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Submitted by info on Mon, 04/12/2010 - 03:52
Oregon Treasury employees wined and dined by investment firms they oversee
April 11, 2010
by Les Zaitz and Ted Sickinger
The Pebble Beach Golf Links, with Carmel beach in the background, is one of many luxury locations private investment companies use when they host investment officers from the Oregon Treasury.A limousine was waiting for John Hershey, an Oregon state investment officer, when he flew into New York for a meeting just before Thanksgiving.
So was a $495-a-night room at The Pierre Hotel, which purrs online that "even in a city where exclusive luxuries are the norm, there is one hotel that is far more rare and special."
Following an afternoon meeting, Hershey was offered cocktails and dinner at Guastavino's, which boasts "the highest staff-to-guest ratio in the city."
Hershey was in town to monitor an investment firm, and it picked up his tab for the flight, the limo, two nights at The Pierre and dinner.
That wasn't a rare occurrence among the 13 employees at the Oregon State Treasurer's office responsible for watching over $67 billion in state investments.
Submitted by info on Mon, 04/12/2010 - 03:38
Oregon Treasurer curbs investment travel, calls for review
April 07, 2010
by Ted Sickinger and Les Zaitz
In response to an ongoing investigation by The Oregonian, Oregon Treasurer Ted Wheeler on Wednesday announced measures to clamp down on travel by the agency's investment officers, ending free golf and first-class airfare they enjoyed while monitoring $67 billion in state money.