State of Alabama Invests in Golf, Wins Big
CNN reports on how the State of Alabama turned a struggling system of pensions into a retirement bonanza by investing in the golf industry. Watch the video below.
MONTGOMERY, AL (CNN) – If you don't like the way things are, then change them. That's what one Alabama state worker did about 20 years ago. And it's paid off big!
Back in the late 80's when the pension fund for Alabama's state employees was small and struggling, the head of the retirement systems teed up an idea about golf. He works today in one of the most stunning state office buildings you'll ever see. Where Dr. David Bronner sits, is an empire of pension money.
"Well, you've got to keep in mind that if you're near the bottom, you're not going to get out of the bottom unless you do something different, or as I tell the people of Alabama, you've got to take risks," said Dr. Bronner.