Jefferson City, MO – Missouri's State Employees' Retirement System has lost around $3.5 million to a massive scam allegedly run by New York investor Bernie Madoff.
State Treasurer Clint Zweifel, who took office earlier this week, says he was informed Thursday that the investment firm Silver Creek Capital Management had fed money from the retirement fund, also known as MOSERS, to Madoff.
He also says the state should consider legal action.
St. Louis, MO – Machinists at GKN Aerospace in Hazelwood will vote this weekend on a second contract offer from the aerospace parts company.
The members of The International Association of Machinists and Aerospace Workers District 837 rejected the company's first contract offer on Sunday over changes to pensions, health insurance and overtime. Union spokesman Tom Pinski says the new contract appears to address the members' concerns.