Labor Says No Bond Necessary for W.V. System

Labor leaders in West Virginia are questioning why the state is still planning a bond issue to retire debt before the state privatizes its publicly owned insurer when a financial advisor to Gov. Joe Manchin says the system no longer faces a cash-flow crisis, the Charleston Daily Mail newspaper reported Monday. The state Legislature in January approved the sale of up to $1.5 billion in bonds to retire the Workers' Compensation Commission's unfunded liability before the transition to a private system, the newspaper reported. Manchin said last month the bond issue actually would be less than...