BP woes take toll on Ohio pension funds

July 6, 2010 at 12:00a.m.

COLUMBUS

Ohio’s five public-retirement systems and the state’s injured-worker fund have lost $177 million in value on BP stock.

The five pension funds and the Ohio Bureau of Workers’ Compensation owned more than 30 million shares of BP stock when the Gulf spill began in April.

BP closed at $59.48 per share April 19 and at $27.05 June 28 on the New York Stock Exchange.

Ohio’s retirement funds represent retired teachers, public employees, police officers and firefighters.

Some of the funds dumped shares after the spill, some held onto the stock and others bought more.

The $177 million is a fraction of the funds’ $144 billion in investments.

Cincy judges consider cell-phone ban in court

CINCINNATI

Judges in the county that’s home to Cincinnati are debating a courtroom ban on cell phones to stop alleged intimidation of witnesses.

The 16 judges in Hamilton County Common Pleas Court say they’re alarmed at people in court using cell phones to take pictures of witnesses, jurors and victims.

Assistant Prosecutor Mark Tierney, who prosecutes drug cases, says testifying witnesses have had their pictures taken as a way of labeling them a snitch.

Lisa Allen, presiding Hamilton County Municipal Court Judge, is also worried about cell phones’ being used to send text messages to witnesses outside of court.

Associated Press