Daley says son made mistake with sewer company

Chicago Mayor Richard Daley said Tuesday his son made a mistake when he acquired a stake in a sewer-inspection company that did business with the city.

"I did not know about his involvement in this company. As an adult he made that decision," Daley said. "It was a lapse of judgment for him to get involved with this company.

"I wish he hadn't done it," Daley continued. "I know the expectations for elected officials, their families, are very high, rightly so."

Patrick Daley and his cousin Robert Vanecko formed a company that invested $65,000 in Municipal Sewer Services in June 2003, according to published reports last week.

It's unclear how much money the cousins made when they cashed out more than a year after investing.

During that time the city allowed Municipal Sewer Services to take over two city contracts from a bankrupt vendor and the company then obtained one-year extensions on each contract.

During his prepared remarks, Daley became emotional when he said that he and his wife are proud of Patrick, calling him "a very good son."

Patrick Daley enlisted in the Army in 2004 and is to be deployed this week to an undisclosed location.

Vanecko issued a written statement last week saying he and his cousin were "small, passive investors in Municipal Sewer Services from approximately mid-2003 to late 2004. ... We were not involved in running the company and had no dealings with any of its clients."

When the company filed its economic disclosure statements with the city in February 2004 it failed to disclose, as required, the ownership interest of Patrick Daley and Vanecko.