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State pension fund group rejects WEDC investment requestSubmitted: 02/04/2013
State pension fund group rejects WEDC investment request
Story By The Associated Press

MADISON - The board that oversees Wisconsin's pension funds has rejected a request from the head of Gov. Scott Walker's semi-private economic development agency to invest $200 million to help startup businesses.

Wisconsin Economic Development Corp. head Reed Hall asked the State of Wisconsin Investment Board in November for the venture capital seed money in November. The board rejected the request, saying that the use of pension funds to pay for economic development initiatives "does not meet our fiduciary duty."

The request for funding as well as SWIB's response is contained in a report submitted by SWIB in December. The Wisconsin Reporter website was the first to report on it.

Hall made the request when he was the interim head of WEDC. Last week Walker named him as the permanent head.



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 IN OTHER NEWS

FLORENCE COUNTY - Two high school students died in a car crash early Friday morning in Florence County. The wreck happened at around 6:20 a.m. according to the Florence County Sheriff's Office.

The vehicle was traveling north on County Highway N in the Commonwealth Township, when the driver lost control while making a turn. The vehicle crossed the center line, left the roadway, and hit a tree, bursting into flames upon impact.

The names and ages of the Florence High School students will be released after notifications are made.


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ARBOR VITAE - Last summer the Northwoods LBGT community and allies come together to celebrate love, diversity and acceptance.

After last year's successful festival, the Rainbow Hodags planned an even bigger one for this year.

More than 75 people celebrated gay pride at the second annual Pride Fest in Arbor Vitae.

Lots of laughter, live music, and dancing filled the park. 

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RHINELANDER - A Rhinelander group working to maintain recreational trails in the area got some help in their mission. The Rhinelander Area Silent Trails Association received grants to help fund its various projects.

The group got two DNR Recreational Trail Act Grants totaled at a little more than $13,000. The WPS Foundation also gave a total of $1,800 in grants. The grant money will be used to help with multiple projects. 

One project is to construct a boardwalk over the wetlands of the Cassian Cross County Ski Trail. RASTA is also going to construct a new ski trail at Washburn.

For more information on all of RASTA's projects, visit their Facebook page lined below.


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LAKE TOMAHAWK - Back in the early nineties, an event in Lake Tomahawk gave thanks to veterans. This year, a group of community members decided to bring it back.

The Vets and Guides event invites veterans from King, Tomah, and other areas to come to Lake Tomahawk for a day of fishing, food, and a good time.

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ONEIDA COUNTY - A Lake Tomahawk man pleaded no contest to sexually assaulting a child.

Robert Aufrere was found guilty of third degree child sexual assault in Oneida County Court Friday. 

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RHINELANDER - People could drop off almost anything with a plug at an electronic recycling event in Rhinelander June 22.

Computers, laptops, and TVs filled boxes in the Charter NEX Films parking lot.

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MINOCQUA - You can help the Oneida County Dive Team by grabbing your goggles and swim cap Saturday (June 23) morning.

Swimmers will launch from Torpy Park for the Minocqua Island Swim Challenge.

The race is one mile long, but people can choose to swim just 400 meters, too.

The water temperature will be about 65 degrees during the race.

"A lot of people will wear wet suits and be very comfortable. I have seen plenty of people go without and have no trouble," says Laura Fuhrman.

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