March 19, 2018

Statewide News Briefs - Jan. 2008

Mark R. Howard | 1/1/2008

» A run on a state-managed investment pool for local governments caused the State Board of Administration to freeze the fund temporarily last month. Local governments had withdrawn close to $14 billion, about half of the funds from the pool, in two months. Investors became concerned over the fallout from mortgage-backed securities. About 6% of the state-run fund is invested in securities that have defaulted. Four days after closing, the state reopened the fund with limits on withdrawals. Pool manager Coleman Stipanovich resigned, and the state shifted management of the fund to BlackRock Inc.

Tags: North Central

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St. Baldrick’s Day
St. Baldrick’s Day

Saturday is St. Patrick’s Day but since July 1999 an organization dedicated to funding research to end childhood cancer — the St. Baldrick's Foundation — co-opted the Irish celebration to come up with St. Baldrick’s Day.

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