Go to A Distant Drum of the Coming Revolution
- Add a comment
- Go to Ohio state rep doesn't grasp idea of businesses profiting by selling goods?
Thanks, scoop!
"A" for doing the homework. The problem is that the paper mentions the big financial gain for the state only in passing, while going on and on and on about the percieved problems. If there are questions, let them be asked and answered openly and honestly, without the slants and spins.
One other thing about this. It came across as sour grapes also because the Blade has been in the tank financially, so it's possible that seeing a local Republican doing so well financially and helping the state to boot was a little galling to someone there.
posted by
WriterofLight
on April 4, 2005 at 8:08 PM
| link to this | reply
This is an interesting story and I know that some states invest in
different areas especially in retirement funds but reading this story farther I can see why there are questions.
Two coins purchased with state money and worth roughly $300,000 were lost in the mail in 2003. The funds wrote off $850,000 in debt over the last three years to cover a failed business relationship between Mr. Noe's Capital Coin and a fellow coin dealer who was managing a subsidiary set up by Mr. Noe. Capital Coin had loaned some of the state's money to a local real estate business that buys and sells central-city homes. A state auditor could not find documents to prove if the loans were sufficiently covered by the value of real estate that a Capital Coin subsidiary held as collateral. Like Paul Harvey would say, Now you know the rest of the story.
posted by
scoop
on April 4, 2005 at 7:43 PM
| link to this | reply