The Thrill is Gone...

By now...most everyone has heard the news. County Supervisor John Moorlach has asked his heir apparent County Treasurer/Tax Collector to step down. Below is the statement from Moorlach's office, pulled from the OCBlog.net:

SUPERVISOR MOORLACH ASKS TREASURER-TAX COLLECTOR CHRISS STREET TO RESIGN

Orange County Supervisor John M.W. Moorlach has asked his successor as Treasurer-Tax Collector, Chriss Street, to resign. Following is the formal statement from Supervisor Moorlach:

“Generally at all times, but particularly in light of Orange County’s experience, the Treasurer of this County must be above reproach, candid with the Supervisors, other authorities, and the public, and able to devote his entire time and attention to the management of the County’s finances. I believe that Treasurer-Tax Collector Chriss Street is a highly motivated, talented manager. But his recent career with the Fruehauf-related companies and the related court cases and governmental investigations are too much of a distraction for him and the voters.

“As reported in the press, Mr. Street is now facing several government investigations. Three of them (the U.S. Attorney’s office, the Department of Labor, and the Pension Benefit Guaranty Corporation) arise from his operation of the Fruehauf Liquidation Trust. The fourth is recent, and is being carried out by the Orange County District Attorney’s office, and reportedly involves an architect-engineering contract. In addition, he faces a civil lawsuit arising out of his conduct of the Trust, based on a 45-page complaint containing twelve counts, ranging from self-dealing to numerous breaches of fiduciary duty to conversion. Standing alone, these actions, both the public investigations and the civil suits, give rise to an appearance that would cause most fair-minded persons to question Mr. Street’s judgment. But, while Mr. Street is certainly entitled to his day in court on the allegations, it is unfair to the public and the taxpayers and citizens of the County of Orange to have their elected Treasurer-Tax Collector divide his time between the duties of his office and his personal legal battles.”

Accordingly, Supervisor Moorlach now calls on Treasurer-Tax Collector Chriss Street to recognize his public duty and obligation to the people of the County of Orange and to resign his elected office immediately. If necessary, Supervisor Moorlach and Chairman Norby will move the Board at the next Board meeting on September 11, 2007 to: (a) pass an urgency Ordinance to revoke Resolution 07-020 (which delegated its investment authority to the Treasurer), thus revoking Mr. Street’s authority to invest the County’s investment pool, and transferring such authority, and the departmental employees necessary to make and monitor such investments.

Here are the news articles from the OC Register and the Daily Pilot.

Here's Supervisor's comments from his MOORLACH (email) UPDATE - Chriss Street - August 24, 2007:

The two articles below (linked above) fairly capture events of late. This has been a difficult decision. But, the taxpayers should not have to worry about the County’s Treasury while their elected Treasurer is explaining time lines and documents to the District Attorney, the Department of Justice, the Department of Labor, the Pension Benefit Guaranty Corporation and in two lawsuits regarding Fruehauf in front of a judge and jury. The distractions are not fair to the taxpayers, the Treasurer-Tax Collector’s Department and the County of Orange. We will have to wait and see what the outcomes are, but in the meantime, he should focus on these matters to their conclusion where they began, as a private citizen.

What do I think? This one is rough for Chriss. So much for giving him the benefit of the doubt and the Presumption of Innocence. At least the NFL waited until Michael Vick plead guilty before officially kicking him out of football, and they STILL haven't done that.

To quote B.B. King, "The Thrill is Gone."