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RECOVERED MILLIONS Sarasota County settles with Wells Fargo for almost $24 million — about 70 percent of the investment funds the county lost during the 'world financial crisis' — Rachel Brown Hackney Sarasota County has recovered $23,750,000, or about 70 percent of the $34 million it lost in investments during what Karen Rushing, clerk of the 12th Judicial Circuit Court, referred to as the "world financial crisis" of 2008-09. In her routine report to the County Commission on Dec. 4, Rushing said Wells Fargo had agreed to settle a lawsuit the county had filed in June 2010 against Wachovia — which Wells Fargo later acquired — for the loss of those millions through "an asset-backed security issue" involving Lehman Brothers Holdings and the county's securities lending contract. Lehman Brothers declared bankruptcy on Sept. 15, 2008. The county had bought investment-grade debt securities from the firm. (Full story here) GOOD SCHOOL TRENDS Sarasota County Schools see an increase in the graduation rate and a decrease in the dropout rate — Scott Proffitt The Sarasota County School District saw a 7 percent increase in its graduation rate from the 2010-11 school year to the 2011-12 school year, Steve Cantees, executive director of Sarasota County High Schools, told the School Board members during their final meeting of the year, on Dec. 4. Since 1999, he said, the district and state rates had climbed almost 20 percent. "The federal requirements for a standard diploma increase every year," he pointed out. "We had a significant increase in the last year, both in the county and the state," Cantees added. "We were very reassured that we had a significant increase in our graduation rate," Superintendent Lori White said. (Full story here) For Advertising Info Sales@SarasotaNewsLeader.com (941) 227-1080 AT A GLANCE TOP STORIES