(October 6, 2008)—Gov. Rick Perry met Monday with key agency heads to talk about the impact of the national financial crisis on Texas.
The meeting came on the same day the Dow dropped below 10,000 for the first time in four years to close at 9,955 as the angst increased on Wall Street about the widening crisis.
“During my time as governor, I have encouraged leaders in the public and private sectors to work to diversify our state’s economy so that we will not be held captive by the cyclical changes of any particular industry or market segment,” Perry said.
“Although our economy remains one of the strongest in the nation, it is still interlaced with economies of other states that are suffering, and we must continue to monitor the current financial situation closely.”
Perry said the state remains a leader in job creation, generating nearly half of the new jobs in the country between August 2007 and August 2008.
The state’s unemployment rate is 5 percent, 1.1 percent less than the national average, Perry said.
Nationally, investors’ jitters were unabated Monday despite the $700 billion bailout bill the president signed Friday.
Perry said he was disappointed the measure didn’t fix the problems on Wall Street.
“While there may be a few provisions in the bill that benefit Texas, the truth is that Congress passed a $700 billion taxpayer-funded bailout for corporate America that included $470 million to create jobs in Hollywood and tax breaks for wooden arrow makers,” he said.
Agency Heads Who Attended
(Source: Texas Governor’s Office)
Christopher Hanson, Interim Executive Director, Texas Pension Review Board
Martin Hubert, Deputy Comptroller of Public Accounts, Office of the Comptroller of Public Accounts
John Heleman, Chief Revenue Estimator, Office of the Comptroller of Public Accounts
Bruce Zimmerman, Chief Executive Officer and Chief Investment Officer, UTIMCO
Ronnie G. Jung, Executive Director, Teacher Retirement System of Texas
Jim Lee, Teacher Retirement System
Amadeo Saenz, Executive Director, Texas Department of Transportation
Tom Pauken, Texas Workforce Commission
Larry Temple, Executive Director, Texas Workforce Commission
Kevin Ward, Executive Administrator, Water Development Board
Ed Vaugh, Board Member, Water Development Board
Holland Timmons, Chief Investment Officer, Permanent School Fund
Ann Fuelberg, Executive Director, Employee Retirement System of Texas
Paul Ballard, CEO of Texas Treasury Safekeeping Trust Co.
Shari Shivers, Vice Chair of Pension Review Board
John Snider, Chair, Finance Commission
Leslie Pettijohn, Executive Director, Finance Commission/Commissioner, Office of Consumer Credit Commissioner
Robert (Bob) Bacon, Commissioner, Dept. of Banking
Doug Foster, Commissioner, Dept. of Savings and Mortgage Lending
Texas Governor’s Office
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