Michael Haghighat and Joseph Hirsch from Globalview Advisors attended the Orange County Chapter of Financial Executives International (OC-FEI) Dinner Meeting held at The Pacific Club in Newport Beach. The topic was presented by State Senator, John Moorlach, who discussed the financial health of California and what can be done to “Measure and Address the Mess”.
Questions raised included:
- How strong is California’s balance sheet?
- How do we compare to other states?
- What can be done to improve the business environment in our state?
Trained as a Certified Financial Planner (CFP) and Certified Public Accountant (CPA), Senator Moorlach began his career in public service 20 years ago. At that time, we were warned that the then Orange County Treasurer-Tax Collector Robert Citron’s risky investment strategies would lead to bankruptcy. Moorlach’s warnings proved true when Orange County filed for bankruptcy protection in December of 1994, becoming the largest municipal bankruptcy in U.S. history. In the aftermath, the Board of Supervisors appointed John Moorlach to serve out the term of County Treasurer-Tax Collector, where he took immediate steps to reorganize county finances, cut losses, lessen risk, and create efficiencies within government.
John Moorlach was twice reelected to County Treasurer-Tax Collector, and in 2006 was elected to serve his first of two terms on the Orange County Board of Supervisors. John Moorlach was elected to the California State Senate in a March 2015 special election.
Globalview Advisors has been a proud sponsor of the OC-FEI since 2013, as well as the San Diego Chapter since 2012. The OC-FEI is the premier organization for financial executives in the Orange County area. OC-FEI promotes interaction among its members and holds programs and workshops to enhance their professional knowledge and qualification.