Thursday, September 13, 2007

Death of John Stroger's godson...

The Capitol Fax blog is giving the rundown on this news. It looks like his death was a suicide but authorities still have to have an autopsy. Unfortunately comments are closed for that post or perhaps not so unfortunate since people do have a tendency to run off at the mouth at the wrong time.

Oh and ironically this story was in the Capitol Fax Blog morning shorts today...

Orlando Jones' sweet government deal just got sweeter -- by about $75,000 a year.

Jones is a godson and former top aide to former Cook County Board President John Stroger. He also once worked for politically connected developer Tony Rezko, who is under indictment on corruption charges.

These days, Jones is a consultant and lobbyist whose clients include William Blair & Co., a Chicago financial firm that pays him a six-figure "referral fee" every year -- for a job he did in 2004.

Now, Jones stands to grow even richer from the deal. Here's how:

The Illinois State Board of Investment oversees retirement funds for state employees, lawmakers and judges. In 2004, the state agency invested $280 million with the William Blair firm.

Orlando Jones & Associates is making money off that arrangement because Jones told state pension officials about William Blair's services. He made the introduction.

For that, Jones got 20 percent of the management fees the state paid William Blair in the first year of the deal. Jones' cut: $221,852, records show.

In year 2, Jones was to get 15 percent of William Blair's fees. That came to $219,668.
Year 3, Jones got 10 percent -- $149,609.

Year 4 is off to an even better start. Jones is to get 10 percent of William Blair's fees every year the firm continues to do business with the pension board. This summer, the state board gave William Blair more money to invest, bringing the total to $505 million.

When William Blair gets more money, so does Jones. His referral fee stands to net him about $224,000 this year, his biggest payday yet.

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