Saturday, April 09, 2005

Adult Supervision, Part 2

Speaking of needing adult supervision, the Ohio Bureau of Workers Compensation has been found to have invested $50 million in a rare coins partnership. The fund seems to be turning a profit, but how do you audit a stack of old coins?
The BWC is the only investor in a rare coin business run by Republican businessman Thomas Noe, a former chairman of the Lucas County Republican Party. Ohio's Republican governors have appointed him to the Board of Regents and the Turnpike Commission, where he serves as chairman.
The story in the Toledo Blade prompted one letter to the editor asking,
"Does Mr. Noe have any expertise in the highly profitable and exciting world of Beanie Baby futures?"

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