Day: July 30, 2012

Housing Dept. responds to audit article

The Maryland Department of Housing and Community Development took issue with some of the statements in a MarylandReporter.com article last Friday about an audit of the department, asking “to clarify and correct some of the information.” The article contained two substantial errors of fact.

State Roundup, July 30, 2012

Gov. O’Malley calls the second special session of the summer, saying that addressing gambling is “about jobs” but opponents and skeptics still wary of the call-back; meanwhile, analysts say that betting on gambling is hardly a safe bet and developer David Cordish says the state is already saturated with venues; now it’s BGE’s turn to ask for a rate hike to strengthen its infrastructure; O’Malley asks for disaster aid from the feds; state health department wants input as it updating laws governing tanning beds; congressional candidate Delaney heads to Israel; Ehrlichs pay to be on the air; and first woman elected to Frederick commissioners remembered.

Md. pension system earns close to nothing in past year

Maryland’s $37 billion state retirement and pension system for employees and teachers earned only .36% on its investments in the fiscal year that ended June 30. This is far below the 7.75% that is the system’s target. “The last 12 months presented a challenging environment for investors, particularly in international equity,” said chief investment officer Melissa Moye.

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