Treasurer’s New Role Deserved
* Re “Moorlach Gets to Dip a Toe in County Pool,” May 25:
I personally would like to applaud the Board of Supervisors on both the timing as well as the magnitude of this move. I still believe that the treasurer’s office which existed just one year ago was not ready to take over the management of the county’s investment pool, but today I feel that John Moorlach and his team have earned the opportunity to prove that they have the talent necessary to handle this initial responsibility.
The management of this $100-million slice of the county’s pool should give Moorlach ample opportunity to demonstrate his team’s abilities relative to a professional money management firm such as Salomon Bros. Asset Management, which is currently managing the remaining assets in the pool.
For the sake of all those concerned, I hope that the treasurer’s office is immensely successful in this new endeavor. I also hope that Moorlach, in contrast with the policy of his predecessor, will make every effort possible to see that both the makeup as well as the return results of his portfolio are readily available to every citizen of Orange County who expresses an interest in examining such information. I personally look forward to reviewing the results of this internally managed investment portfolio on a regular basis.
GARY A. PULFORD