November 21, 2014

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 Local governments had withdrawn close to $14 billion, about half of the funds from the pool, in two months.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

Digital Access

DIRECT DIGITAL ACCESS
Add digital to your current subscription, purchase a single ditgital issue, or start a new subscription to Florida Trend.

TABLE OF CONTENTS
An overview of the features and articles in this month's issue of Florida Trend.

ACCESS THIS ISSUE »

Florida Business News

Florida Trend Video Pick

More people to hit the road this Thanksgiving
More people to hit the road this Thanksgiving

The good news for Thanksgiving travelers: the price of gas is at five-year lows. The bad news: a lot more people will be on the road. 

Earlier Videos | Viewpoints@FloridaTrend

Ballot Box

Did President Obama overstep his executive authority by enacting immigration reform?

  • Yes. He should have gone through Congress.
  • Unsure
  • No, other presidents have taken similar action, and something had to be done.

See Results

Ballot Box
Subscribe