22 July, 2005

Notice to entrepreneurs

NOTICE to all entrepreneurs: The State of Ohio Bureau of Worker's Compensation is interested in ways to invest money. Before you become disheartened, I have excellent news; you don't need to know about return on investment, stocks, bonds, or mutual funds. All you need is tenacity, creativity, and a plan.

Get the word out! Tell your cousins, friends, and especially that uncle who always has a sure-fire money-making plan. Ohio's BWC is looking for those ideas. See, over the past few years there has been more than $330 Million lost in this fund. The latest money squandering endeavor was an investment in rare coins. Toledo business owner and campaign contributor Tom Noe was able to get his bid in (well before the bidding was open) and was able to set up two funds for the Bureau. I always thought coins were a hobby, like a stamp collection. See, I had it all wrong, and I bet you did too. This is why I'm getting the word out.

I would bet you could walk around and really get some good ideas. How about an inner city jitney, or cab service, granny's crocheted afghans, and get little Lisa to gather all of her plastic beaded necklaces. Now, don't get too fancy because this is Ohio, and our government is not a great supporter of the Arts, but if you tout it as an investment then maybe they'll bite.

Now, just so you know, the playing field may not be level here, unless you happen to be a prodigious campaign-contributor and golf buddy to all of the right people. Tom Noe has been so busy that he's already given over $17,000 to the campaigns of 3 candidates for governor. And in Governor Bob Taft's defense, he gave back $22,190 stating that Noe "has done a great disservice to the people of Ohio by mismanaging our public resources and abusing our trust." Bush returned $4,000. Five GOP justices on the Ohio Supreme Court said they, too, will identify and set aside campaign contributions from Noe. Noe also gave $10,000 to California Gov. Arnold Schwarzenegger. But he is keeping the money.
But, I don't want to be greedy. Noe was given $55 Million to invest, $10 Million of which is missing--and I think my data is a little behind the curve, so he's getting the benefit of the doubt. I mean if the State can withstand an 18% loss, then by all means, let us all have a shot. I bet the average person would do better than that. I mean honestly, I could invest BWC's money with my Deferred Compensation money because honestly, I have had only one negative quarter in the past five years. I think that's pretty impressive, and all this time I though I knew nothing about big business. See, there are opportunities everywhere. You just have to know where to look.


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