Kasich hires Lehman Bros. buddy to head Ohio Development Department

[bulloney]

From the Columbus Dispatch:

A prominent venture capitalist from Silicon Valley has agreed to run the Ohio Department of Development essentially free to help transition it to a private jobs organization, Gov.-elect John Kasich plans to announce today.

Mark Kvamme, a partner at Sequoia Capital in Menlo Park, Calif., will serve as department director on an interim basis for $1 for a period of months and help start the nonprofit JobsOhio, Kasich said yesterday.

Kasich said Kvamme, a longtime friend who worked with him when Kasich was a managing director at Lehman Brothers, will help decide which current tax incentive and other job-creation programs are effective.


More:
http://www.dispatchpolitics.com/live/content/local_news/stories/2011/01/07/copy/for-1-kasich-hires-private-help-to-spur-job-creation.html?adsec=politics&sid=101

He's going to do this for only $1?

Something about this doesn't pass the smell test.