Flanagan Announces Candidacy for Treasurer

05/16/02 12:00AM



(Host) Former State Auditor Ed Flanagan announced his candidacy for the Democratic nomination for treasurer on Wednesday. The office will be open this November because incumbent Republican Treasurer Jim Douglas is running for governor.

Speaking at a Statehouse press conference, Flanagan says his top priority will be an effort to aggressively monitor the state's pension funds. He said he wants to make certain that the money is invested in reputable, and when possible, socially responsible companies. Flanagan says state pension funds lost between $4 and $5 million when the energy giant Enron collapsed this past fall. And he says that's the kind of company the state should be wary of:

(Flanagan) "This is an unsettled market to engage. It's my belief that today any fiduciary ¿ including Vermont's state treasurer ¿ must join the budding national reform movement which seeks greater corporate accountability and increased shareholder activism. This has become a necessity to effectively protect assets invested."

(Host) Flanagan faces former Senate Appropriations Chairman Jeb Spaulding in the Democratic primary in September.

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