* Greg Hinz followed up on our post yesterday and this morning’s Capitol Fax with a piece on the dustup over the state treasurer’s investments in Israeli government bonds.
Sen. Mike Frerichs then volunteered another idea…
But — without prompting — he then went on to say that the state should divest itself of any pension investments in companies “that move jobs overseas out of Illinois.”
Mr. Frerichs gave no examples, but as treasurer he would be a voting member of the Illinois State Board of Investments, which handles money management for some of the state’s pension funds.
Asked whether he would divest shares of Deerfield-based Walgreen if it indeed moves its headquarters to Switzerland, Mr. Frerichs said he’d wait for a while “to see how they manage this…what is the number of jobs they move out of the state.”
Mr. Cross countered that the treasurer’s job is to “maximize returns and minimize risks.” In the case of Walgreen, “you have to have the basic philosophy to get the best return,” he said.