Detroit

Snyder’s Detroit Bailout “Officially” Hemorrhages Our Money

Oh, joy… today makes it “official”.

via Crain’s Detroit

Belle Isle in Detroit is set to officially become Michigan’s newest state park.

The state is taking over the city-owned park under a 30–year lease deal with Detroit Emergency Manager Kevyn Orr.

On Oct. 1, Orr and Gov. Rick Snyder signed a proposed lease of the island to turn it into a state park; Detroit City Council counter-offered with a 10-year lease proposal, which was ultimately rejected by a state panel.

Included in the announcement of the proposed lease was the promise that the state would invest $10 million to $20 million in the park within the next three years.

The move goes into effect today; it’s expected to save the bankrupt city [cost all state taxpayers] between $4 million and $6 million a year.

REST

At least Billionaire Roger Penske is happy that another of his toy racetracks is receiving the full backing of our wallets.

Bud Denker of Bloomfield Hills is senior vice president of Penske Corporation and executive vice president of Penske Automotive Group and Penske Performance. Denker joined the Penske enterprise after many years with several Fortune 100 companies including Eastman Kodak Company where he served as vice president of brand and marketing development. Since 2006, he has served as chairman of the Detroit Belle Isle Grand Prix and is also active in many Detroit-based organizations including the Downtown Detroit Partnership and The Parade Company.

Pure Cronyism.

You Betcha! (6)Nuh Uh.(0)

Sundays Sanity: Tax-Exempt Entity and Their Billionaires

For those unaware, the NFL is tax-exempt and also plundering our wallets for a $Billion a year.

Have you ever heard of the old expression, “like placing a diamond on a goats ass” ? Billionaire moochers and looters with their bought off politicians enabling taxpayer funded Flavian Amphitheaters are a good definition of it.

When the Lions and Tigers stadium deal was struck, one newspaper headline headline joyfully proclaimed a “Detroit comeback.” William Clay Ford, Jr., the Lions’ vice chairman, said that being “an integral part of Detroit’s renaissance is an absolute honor of the highest degree.”

And, a short 14 years later, Detroit files for Chapter 9 protection. Brilliant propaganda espoused by, Mr. Bill One playoff win in 56 years Ford Jr., yes?

You Betcha! (0)Nuh Uh.(0)

Detroit opinion leader makes erroneous comparison between business and government

Daniel Howes, Detroit News columnist recently published a rambling column discussing the parallels of the Detroit Automakers comeback (as illustrated by their Super Bowl ads) and the city of Detroit and its potential comeback. The column was fairly innocuous stuff until these two paragraphs:

Yes, I know the convenient dodge from those who would prefer to avoid the obvious parallels between running an automaker into the ground and running a municipal government into the ground: government is not a business.

Wrong. Both succeed and fail on the strength (or weakness) of managing reality, dollars and cents, not some mythical ideal that exists only in gauzy memory or an eighth-grade civics class. Neither business nor government can allow expenses to consistently outstrip revenue for too long, cannot charge customers or taxpayers more and deliver less, without inviting serious existential consequences.

So many things wrong with the above paragraphs.

Starting with the most fundamental flaw: business adds value by producing something (a product or service) and creates wealth, government can only take wealth (through the force of law) from one group of people and give it to another, adding no value and creating no wealth.

You Betcha! (0)Nuh Uh.(0)

Bankrupt – The Movie

Detroit.

Cronyism, corruption, bailouts, favored status, confiscation through eminent domain, picking winners and losers.  Sound familiar?

This documentary premiered yesterday in Washington DC, and offers some historic perspective to the decline of Detroit.

Perhaps even, an explanation (a warning) of what is to come next, as long as we allow our governments to engage in corporatism; a way in which our taxpayers dollars are funneled into the pockets of special interests  and how corruption has abused Detroit, providing little benefit to those paying the bills. At one point Thomas LaDuke makes a great point about not questioning “people’s heart or motives,” but his frustration of how city residents don’t actually see how the city has been run.

Enjoy

You Betcha! (0)Nuh Uh.(0)

Now why might this be?

Something interesting to note with battleground state data that has been released a short while ago.

Gallup: January 2-December 29, 2014

Obama Approval ratings in Senate Battleground States (this is the YEARLY average, the President’s current numbers are actually lower in EACH of these states).

  • Alaska: 33.5%
  • Arkansas: 34.9%
  • Colorado: %42.3
  • Georgia: 45.4%
  • Iowa: 42.5%
  • Kentucky: 35.1%
  • Louisiana: 40%
  • Michigan: 47.7%
  • Montana: 33.1%
  • New Hampshire: 44.6%
  • North Carolina: 43%
  • Oregon: 45.4%
  • South Dakota: 31.7%
  • Virginia: 46.4%
  • West Virginia: 25.1%

The current numbers may be lower, but I see one particular thing that makes sense.

You have to love Michigan’s push for medicaid expansion, and ceding to the Obamacare plan along side other progressive Obama ‘likes’ such as common core, A21, and transportation schemes. The highest appreciation for Obama, coming from the state that is controlled by Republicans.

Because Republicans manage those failed progressive schemes so much better than the Democrats.

#AmIRight?

You Betcha! (0)Nuh Uh.(0)

Detroit Police Officers Assault Reporter

This speaks for itself.

When a Fox 2 News reporter wanted to speak to Detroit City Council member George Cushingberry, he is attacked by city police.

You Betcha! (0)Nuh Uh.(0)

Bankrupt – Detroit, Bailouts

“Decisions have consequences” as told in the newest movie by FTR productions & MrSmithMedia.

Rick snyder is about to give away $350 Million in taxpayer money to ‘save’ the DIA.  Not because Michiganians around the state made the mistake of financial mismanagement, but because of continually unaddressed cronyism, criminality and fraud within Detroit, and its leadership.

The Documentary addresses Detroit, the auto bailouts, and the reasons things have gone terribly terribly wrong. It will offer a precautionary tale for those who might wish to follow Rick Snyder down the continual slippery sloped that is Detroit, Michigan.

It premiers next week in Washington DC, and then will be available on Youtube.  Watch the teaser below!

You Betcha! (0)Nuh Uh.(0)

Don’t Bail Out Detroit

Apparently, there is a caveat to recent ‘good news’ for the DIA.

Reposted from The Mackinac Center for Public Policy in time for Rick Snyder’s State of the state address tonight:

 

Don’t Bail Out Detroit with State Tax Dollars

By Michael Lafaive
The recent announcement that philanthropic foundations may donate $330 million to help the Detroit Institute of Arts, which would also help city pensioners avoid the consequences of Detroit government mismanagement, sounds like great news.

Unfortunately, there may be a hook: A requirement that the state treasury contribute, which would convert voluntary private generosity into a coerced taxpayer bailout.

A state bailout of Detroit is a terrible idea. It creates moral hazard and adds to the overly generous financial support the city has for years received from state taxpayers.

And it’s unfair.

You Betcha! (1)Nuh Uh.(0)