COUNTY'S TOBACCO HOLDINGS OPPOSED.Byline: Jennifer Klein Klein , Melanie 1882-1960. Austrian-born British psychoanalyst who first introduced play therapy and was the first to use psychoanalysis to treat young children. Staff Writer VENTURA - Supervisor Frank Schillo will ask the Board of Supervisors on Tuesday to support his belief the Ventura County Retirement Board should divest To deprive or take away. Divest is usually used in reference to the relinquishment of authority, power, property, or title. If, for example, an individual is disinherited, he or she is divested of the right to inherit money. itself of tobacco stock holdings. Schillo is asking the supervisors to adopt a ``no tobacco stock'' investment policy for the county and ask the retirement board to reconsider re·con·sid·er v. re·con·sid·ered, re·con·sid·er·ing, re·con·sid·ers v.tr. 1. To consider again, especially with intent to alter or modify a previous decision. 2. last month's refusal to divest. ``It's my only opportunity, and I'm trying every avenue to get this done,'' said Schillo. The retirement board soundly rejected Schillo's motion to sell off its tobacco stocks last month, with board members saying they feared entering a slippery slope 'slippery slope' Medical ethics An ethical continuum or 'slope,' the impact of which has been incompletely explored, and which itself raises moral questions that are even more on the ethical 'edge' than the original issue of investing and felt it was not economically sound to divest. The Ventura County Employee Retirement Association oversees a $2.3 billion retirement fund and has $14.8 million invested in tobacco companies. If it chose to divest, it would initially cost $143,000 and $140,000 in subsequent years in additional managers fees, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. a report at August's retirement board meeting. Other supervisors could not be reached for for comment. In light of the fact the county stands to receive $250 million in tobacco settlement money over the next 25 years, and $11.7 million annually from the 50-cents-a-pack tobacco tax, Schillo feels it would be contradictory to have the retirement board invest in tobacco stocks. Schillo said the county treasurer invests in government stocks government stocks government npl → Staatspapiere pl, Staatsanleihen pl . Asking the board to back his request was his next option, he said. ``My position has been and continues to be that we as a County should not encourage tobacco companies by buying their stock while at the same time we are charged with the responsibility for treating people suffering from cancer and educating young and old about the dangers of tobacco,'' Schillo wrote in his board letter. |
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