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John Mw Moorlach

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NEWS
May 30, 2006 | Jean O. Pasco, Times Staff Writer
Few people paid attention to John M.W. Moorlach in 1994 when, as a candidate for Orange County treasurer, he warned that the longtime incumbent's risky investments could cost the county millions of dollars. Moorlach lost the race but won the argument. In December 1994, the county declared the largest municipal bankruptcy in the nation's history, posting investment losses of $1.7 billion. Now, Moorlach, the current treasurer, is at it again, this time issuing dire fiscal warnings as a candidate for county supervisor.
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NEWS
May 30, 2006 | Jean O. Pasco, Times Staff Writer
Few people paid attention to John M.W. Moorlach in 1994 when, as a candidate for Orange County treasurer, he warned that the longtime incumbent's risky investments could cost the county millions of dollars. Moorlach lost the race but won the argument. In December 1994, the county declared the largest municipal bankruptcy in the nation's history, posting investment losses of $1.7 billion. Now, Moorlach, the current treasurer, is at it again, this time issuing dire fiscal warnings as a candidate for county supervisor.
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CALIFORNIA | LOCAL
May 7, 1995
When he criticized Irvine Councilman Barry J. Hammond for his decision to allow Irvine's participation in the ill-fated investment pool ("Moorlach Suggests Councilman Resign," April 27), Treasurer-Tax Collector, John M.W. Moorlach stated: "Where's your integrity? Where's the honor? Perhaps, where's the resignation?" Hammond maintained that his decision was "based on the facts that were in front of me. . . ." Supervisor Roger R. Stanton's views on his decision are similar: "You have a right to rely on the information that is provided to you."
CALIFORNIA | LOCAL
August 16, 2004 | Stuart Pfeifer, Times Staff Writer
John M.W. Moorlach made his political name in 1994 when he repeatedly pointed out the vulnerability of Orange County's investment pool while campaigning for county treasurer. Although Moorlach lost that race to the incumbent, his forecast proved accurate. The county declared bankruptcy in December 1994, his opponent was criminally indicted and Moorlach was named his replacement.
CALIFORNIA | LOCAL
March 12, 1995
Flash! Members of the Board of Supervisors are about to make a big mistake in appointing John M.W. Moorlach as Orange County treasurer-tax collector. Moorlach admitted that somebody, whose name he won't divulge, actually did the analysis about the risky derivatives that Moorlach used as political sound bites against Mr. Citron. Moorlach did not inform the supervisors personally in political comments during their regular meetings because Mr. Moorlach didn't understand it either. The board has an obligation to us taxpayers.
NEWS
July 14, 2002
Re "Go Slow on Merrill Lynch Ties," Editorial, July 7: It was my dear friend Steve de Graaf who drove from Los Angeles County immediately after I lost the election to former Orange County Treasurer-Tax Collector Robert L. Citron and gave me this advice: "Be better, not bitter." The Orange County bankruptcy occurred as the result of a large group of well-meaning people that failed to see the red flags because their eyes were closed. Many have moved on to such jobs as executive director of the Orange County Business Council and the head of the Peace Corps.
CALIFORNIA | LOCAL
September 7, 1997
Having the distinct honor of serving as Orange County's elected treasurer-tax collector, it has been a unique experience to be the target of angry letters to the editor. In every case thus far, the taxpayer did not have an accurate understanding of all the facts and misspoke. This occurred again with John T. Chiu's recent experience with my office (Letters, Aug. 31). There is no refund forthcoming as we have already issued the payment. I would request that Chiu, an experienced real estate owner, review his records more accurately in the future before publicly impugning an innocent and cooperative party related to his financial transactions.
CALIFORNIA | LOCAL
May 7, 1995
So now our public servants and advisers are trying to decide if Mr. (John M.W.) Moorlach and his staff are competent "to handle the $5-billion portfolio" of Orange County ("Adviser Urges Outside Money Manager for Now," April 7). That is a whole lot of money and caution is necessary in its investing. My concern is that the skill being sought is how to "maximize" return while "minimizing" risk. A noteworthy goal for any private investor, but this is public money for which, in my opinion, the guiding principle must be "minimize risk," period.
CALIFORNIA | LOCAL
January 23, 2001 | DAVID REYES, TIMES STAFF WRITER
The investment strategy of the treasurer-tax collector will go under the microscope today in a hearing before Orange County's five supervisors, when John M.W. Moorlach is expected to defend a $40-million investment in Southern California Edison's parent company. The beleaguered utility defaulted on $600 million in bond payments last week amid several days of rolling blackouts that dimmed large portions of Northern and Central California because of an energy crunch.
CALIFORNIA | LOCAL
March 5, 1995
We were terribly disappointed that the Board of Supervisors is apparently prepared to move ahead with the appointment of John M.W. Moorlach as county treasurer-tax collector without conducting a comprehensive search, as recommended by interim Chief Executive Officer William J. Popejoy and acting Treasurer Thomas E. Daxon, to find the most qualified candidate ("Board Wants Moorlach as New O.C. Treasurer," March 2). It is clearly in the county's best interest to find the best professional with treasury, investment and departmental management experience for this critical treasurer-tax collector position.
OPINION
March 16, 2003
Re "County Ignoring a Likely Disaster," March 9: Robert A. Pool won a preliminary bout in Superior Court and believes the county should fold. Here are reasons it shouldn't: Judge John M. Watson ruled that the "recapture method" used by the state's counties is unconstitutional. He may be wrong. Numerous other judges around the state, reviewing the same or similar facts, came to the opposite conclusion. Watson's rulings have a high turnover rate. This trend may continue.
OPINION
September 15, 2002
Re "A Map for 91 Express Lanes," commentary, Sept. 1: I support John M.W. Moorlach's appraisal of evaluating the possibility of the Transportation Corridor Agencies buying the 91 Express Lanes from the California Private Transportation Co. As a former board member of the TCA, I believe Moorlach's analysis about the proposed purchase of the struggling operation is outstanding. This is especially true considering that toll roads are a relatively new phenomenon in Southern California and usually run into start-up difficulties.
NEWS
July 14, 2002
Re "Go Slow on Merrill Lynch Ties," Editorial, July 7: It was my dear friend Steve de Graaf who drove from Los Angeles County immediately after I lost the election to former Orange County Treasurer-Tax Collector Robert L. Citron and gave me this advice: "Be better, not bitter." The Orange County bankruptcy occurred as the result of a large group of well-meaning people that failed to see the red flags because their eyes were closed. Many have moved on to such jobs as executive director of the Orange County Business Council and the head of the Peace Corps.
CALIFORNIA | LOCAL
July 19, 2001 | DENNIS McLELLAN, TIMES STAFF WRITER
The second of Orange County's two $20-million Edison International investments was paid in full Wednesday, ending what county Treasurer John M.W. Moorlach called six months of "crisis management." Moorlach, who was criticized by some earlier this year for investing $40 million in school money in the utility despite the state's worsening energy crisis, said that all principal and interest payments were made according to schedule.
CALIFORNIA | LOCAL
January 23, 2001 | DAVID REYES, TIMES STAFF WRITER
The investment strategy of the treasurer-tax collector will go under the microscope today in a hearing before Orange County's five supervisors, when John M.W. Moorlach is expected to defend a $40-million investment in Southern California Edison's parent company. The beleaguered utility defaulted on $600 million in bond payments last week amid several days of rolling blackouts that dimmed large portions of Northern and Central California because of an energy crunch.
CALIFORNIA | LOCAL
August 2, 2000 | DAVID REYES, TIMES STAFF WRITER
Orange County Treasurer John M.W. Moorlach proposed a new measure Tuesday that calls for a higher percentage of money from the national tobacco settlement to pay down the county's bankruptcy debt than proposed in Measure H, a ballot initiative proposed by health care officials. Under Moorlach's plan, 40% of the county's $30-million-a-year share of the settlement fund would be used to pay debt obligation.
OPINION
March 16, 2003
Re "County Ignoring a Likely Disaster," March 9: Robert A. Pool won a preliminary bout in Superior Court and believes the county should fold. Here are reasons it shouldn't: Judge John M. Watson ruled that the "recapture method" used by the state's counties is unconstitutional. He may be wrong. Numerous other judges around the state, reviewing the same or similar facts, came to the opposite conclusion. Watson's rulings have a high turnover rate. This trend may continue.
CALIFORNIA | LOCAL
August 6, 1995
I take great exception to the scurrilous remarks made by the former mayor of Santa Cruz, Neal Coonerty (Letters, July 30). When former County Treasurer-Tax Collector Robert L. Citron ran for reelection, there was no indication to the voters that there was anything wrong with his policies. His opponent, John M.W. Moorlach, made some adverse allegations but these weren't proven. Citron had the wholehearted support of the Board of Supervisors. My wife and I are registered Democrats and supported Measure R, which would have raised the sales tax. However, we appreciated the stand of the opponents who declined to entrust any further money to the supervisors, who failed to exercise adequate control over Citron.
CALIFORNIA | LOCAL
September 7, 1997
Having the distinct honor of serving as Orange County's elected treasurer-tax collector, it has been a unique experience to be the target of angry letters to the editor. In every case thus far, the taxpayer did not have an accurate understanding of all the facts and misspoke. This occurred again with John T. Chiu's recent experience with my office (Letters, Aug. 31). There is no refund forthcoming as we have already issued the payment. I would request that Chiu, an experienced real estate owner, review his records more accurately in the future before publicly impugning an innocent and cooperative party related to his financial transactions.
CALIFORNIA | LOCAL
August 6, 1995
I take great exception to the scurrilous remarks made by the former mayor of Santa Cruz, Neal Coonerty (Letters, July 30). When former County Treasurer-Tax Collector Robert L. Citron ran for reelection, there was no indication to the voters that there was anything wrong with his policies. His opponent, John M.W. Moorlach, made some adverse allegations but these weren't proven. Citron had the wholehearted support of the Board of Supervisors. My wife and I are registered Democrats and supported Measure R, which would have raised the sales tax. However, we appreciated the stand of the opponents who declined to entrust any further money to the supervisors, who failed to exercise adequate control over Citron.
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