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Friday, Mar 29, 2024

Glendale’s stocks escape crisis

GLENDALE , The confluence of market, housing and state budget woes may be wreaking havoc on a range of local balance sheets, but one chunk of city money has remained sheltered from the storm , Glendale’s $440-million investment portfolio. Despite the doomsday parade of major financial institutions on Wall Street , which in recent days has featured the federal takeover of American International Group Inc., Bank of America Corp.’s buyout of Merrill Lynch & Co. and the demise of Lehman Brothers Holding Cos. , City Treasurer Ron Borucki said Thursday that Glendale’s investment portfolio “has not suffered any losses.” For the full story visit www.glendalenewspress.com/articles/2008/09/22/politics/gnp-market22.txt

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