120 search results for "bailout"

Damn Good Thing Eddie Duggan was on Gretchen Whitmer’s Transition Team Otherwise Dana Nessel Would be Placed in a bad Position

Oh shit, is that title right? No, it’s not. And I thank Charlie LeDuff (listen to connect the dots there), the folks over at Deadline Detroit, and Bankhole, for keeping this alive.

Peon scapegoats? After the Rick Snyder/Brian Calley Detroit bailout?

If the feds don’t smash this Ed McNamara politburo machine down, then there’s no point in building a wall. Not for Michigan families, anyway.

You Betcha! (10)Nuh Uh.(1)

See, We Told You So.

No fewer than a dozen warnings that this would happen ..repeatedly.

Scales just commented this grand disaster.

From the people who watch such things, we just wanted to remind you that the fix you thought was there? Wasn’t.  As reported in the Detroit News Detroit schools need mo money:

“Without state support to address its growing capital needs, Detroit’s public school system poses a potential threat to Detroit’s economic revitalization, Moody’s Investors Service said Tuesday.

The rating agency said for fiscal 2019, the Detroit Public Schools Community District has budgeted $9 million in capital expenses, out of a budget of roughly $760 million. Detroit’s school buildings have $500 million in capital needs and deferred maintenance.”

Disappointing, yet not altogether surprising.

Before giving anymore, perhaps Michigan’s investors actually look at who gets da money?

Anyhow, it never should have happened to begin with.

I have solutions for any of these school issues.  If anyone in the game really wants to fix it once and for all, feel free to reach out.  It would take a little courage, but the repair would last forever.

[call me]
You Betcha! (14)Nuh Uh.(0)

Are they even aware of what they’re selling?

So in the midst of all of the post-election analysis, we’ve heard the “experts” from other outlets drone on about why the 2018 Election went the way it did.

We’ve heard them tell us that this is the vaunted “Blue Wave” sweeping across America. Despite the rash of ballots “miraculously” showing up in places like Florida (and apparently now here) along with Arizona, democrats still only control the House.

We’ve been told that this is the year of the woman. Yet, I’m waiting to hear why superior candidates like Lang and Epstein didn’t benefit from this?

Finally, the media (or infotainment complex…take your pick), dredges up their favorite rationale for last Tuesday Night’s results: It’s all President Trump’s fault.

If you get past their self-created echo chamber, you might have noticed the marked lack of coverage of the rise in America’s economy that has taken place since the ‘16 election (far higher than any democrat or their sycophants claimed was possible) , unemployment numbers falling ACROSS THE BOARD, and a newfound respect for America around the world since a certain Chicago street hustler was no longer in a position to embarrass our Republic by bowing down to foreign leaders at every opportunity and generally showing no backbone with the same by conceding at every opportunity.

I’m going to bring up a topic that the so-called conservative policy wonks running the multitude of losing campaigns are loath to ask themselves.

{Post continues after the fold}

You Betcha! (11)Nuh Uh.(2)

Snyder “It’s Been A Gas!” (tax)

Rick Snyder to say Adios to Michigan gaspayers this year

Rick Snyder will be gone after this year.

We will no longer have a progressive Democrat masquerading as a Republican in the governor’s office.  That is, unless his carefully selected heir is somehow elected.  From the Detroit Free Press:

Michigan Gov. Rick Snyder is expected to officially endorse Lt. Gov. Brian Calley at a campaign event in Southfield Wednesday.

“Lt. Gov. Calley and Gov. Snyder will attend an event this afternoon to highlight the best way to continue Michigan’s comeback over the next four years,” said Calley campaign spokesman Michael Schrimpf.

You know the guy.

Mr march-over-a-bridge-with-pied-piper-child-like-men-and-women political ad star?.  The guy who is Rick Snyder’s “Hillary?”  The guy who was the ‘conservative‘ in the executive branch?

The guy who was there to make sure that Michigan Taxpayers pony up an additional $1.8 Billion for roads sadly neglected because of Detroit bailouts and general fiscal malfeasance. Even after voters said.. “Nah we don’t want that” about Prop 15-1

Certainly, Brian Calley will parrot Slick Rick’s latest beg for new taxes.  Go ahead and ask him if he agrees when the Governor says we ain’t ponying up enough.

LANSING – It’s time to raise the federal gas tax to help fix Michigan’s ravaged roads, Gov. Rick Snyder said Tuesday.

Snyder, a Republican who is under fire along with state lawmakers over the shape of Michigan’s roads, said the state has taken steps to increase road funding and can do more, but it’s also time for the federal government to step up.

He said the state has increased road funding more than $1 billion annually since he took office, but federal road funding has decreased $250 million a year during that time.

“We need federal, state and local partners all working together,” but the feds are “going backwards on us,” he said.

Backward.

You Betcha! (14)Nuh Uh.(1)

Rewarding stupidity.

Come and meet the news boss…same as the old boss.

OPM.

Isn’t it grand to not be responsible for money.

Large sums of money, even.

Money that you would’ve thought SOMEONE would’ve learned their lesson after having their fat pulled out of the fire multiple times in the past.

Same characters played by different actors.

{This week’s stupidity players are revealed below the fold}

You Betcha! (9)Nuh Uh.(1)

Sleight of Hand

Fast Times At The Detroit Public Schools Community District

Norman Shy, the Detroit Public Schools vendor who stole $ 3 million with the capable assistance of 12 DPS principals and one DPS administrator, has begun paying his court-ordered restitution. The Detroit Free Press reported today that the Detroit Public Schools Community District has received $ 1.5 million from Mr. Shy, out of the total $ 2.7 million in restitution U.S. District Court ordered Mr. Shy to pay in September 2016.

The problem here? Mr. Shy’s scam looted the pre bailout/bankruptcy Detroit Public School District, not the new Detroit Public Schools Community District. The new Detroit Public Schools Community District was created in July 2016, before Mr. Shy’s sentencing but well after his 13 year long scam concluded.

The legacy Detroit Public School District still exists as a ward of the State of Michigan to pay off more than $ 500 million in ‘operating debts’. Debts which, in part, are directly due to Mr. Shy’s scam and dozens of other thieves. Michigan taxpayers at large are paying down those debts of the legacy DPS District, and will be paying until 2025 – if not longer.

Mr. Shy’s restitution payments should be paid to the legacy DPS District, not the new DPSC District. Its not like Michigan taxpayers owe these monies to the new DPSCD. Michigan taxpayers fronted the DPSCD $ 617 million as part of the 2016 bailout/bankruptcy, and the new, ‘debt free’ district is now being financed just as generously as every other school district in Michigan.

$ 1.5 million is real money.  Restitution should be directed to those financially damaged.  In this case, it is the taxpayers of Michigan – not the new Detroit Public Schools Community District – who were looted by Mr. Shy.

Anyone still wonder why Michigan residents are so ill disposed towards Detroit and its very creative government accounting practices?

You Betcha! (10)Nuh Uh.(0)

Insert Cash Here

Yet another bucket lister with bling

It’s getting interesting already.

In 2009, a relatively new guy came on the political scene, threw down some shekels, and became the titular head of the Michigan GOP.  We all knew he was a fraud, but money talks, and we all know the rest.

And now, the first round of financial reporting is out for 2018.  Candidates for Michigan’s top spot are starting to sort out, and the Michigan Campaign Finance Network has done a nice job of putting up some of their financial numbers fast. The heavy fundraising this early in the game goes to the usual suspects and one that stands out in a peculiar way, also hailing from Ann Arbor, but this time on the Democrat side.

Democrat Shri Thanedar, Ann Arbor
Total Contributions: $3.2 million

Thanedar, a businessman who lists himself as an entrepreneur on campaign finance disclosures, has loaned his own campaign $3.2 million so far this year. His campaign reported only one other contributor. That person gave $100.

The Thanedar campaign reported spending $81,557 from when the committee formed in April and the campaign finance reporting deadline on July 20.

Michigan is no stranger to self-funding candidates. In 2010, Republican businessman Rick Snyder contributed about $6 million to his primary campaign to help score the GOP nomination for governor. He went on to win the general election.

I suppose the fantasy of every political wannabe in Michigan is to self fund the next Gubernatorial contest.

You Betcha! (9)Nuh Uh.(0)

Battles of the Lower Depths in Detroit

Davis et al v. Detroit Downtown Development Authority et al; U.S Eastern District of Michigan Case Number: 2:17-cv-11742

Eastern District of Michigan U.S. District Judge Mark A. Goldsmith ruled on June 19th that Detroit’s Downtown Development Authority can issue $34.5 million in bonds to pay for the relocation of the Detroit Pistons basketball team to the new Little Caesar’s Arena. The Judge’s ruling rejected arguments that the eventual use of school tax money to repay these tax increment finance bonds violates Detroit residents’ constitutional and statutory right to vote on a school tax money diversions.

Judge Goldsmith’s ruling denied Robert Davis‘ and D. Etta Wilcoxon’s motion for a preliminary injunction or temporary restraining order in their lawsuit against the Detroit Downtown Development Authority. The Judge said the plaintiffs did not establish the need for an emergency injunction. The Judge politely neglected to mention that Robert Davis was sentenced in the very same Eastern District U.S. District Court to an 18 month Club Fed vacation for stealing $ 200,000 from the Highland Park School District in 2014. Mr. Davis should still be on probation for this minor peccadillo.

One complication here is that the tax monies being diverted are not those of the current Detroit Community Public School District, but rather those of the legacy Detroit Public School District which was reduced to zombie status last year in the DPS bailout. Is the old DPS really a school district today, or just a financial entity? The Detroit Community Public School District is a near bankrupt ward of the State of Michigan that won’t receive any Detroit property tax revenues until the legacy DPS district debts are paid off. No one alive today will live to see that.

You Betcha! (13)Nuh Uh.(0)

Does Detroit need a lesson on the Fourth?

And no. I don’t mean that thing where we exercise out "right" to set off large quantities of fireworks next month.

Last weekend, I spent some time with some friends who now live out of town.

We did the “usual touristy” things like Greektown and the Casinos.

They wanted me to go with them to the Grand Prix, but I’m more of a NASCAR Guy than IndyCar.

Afterwards, I insisted on changing things up and that we go down to Lafayette to eat.

I told them that it was part of the “Authentic Detroit” dining experience and that sort of thing.

They had never been down there and after initially scarring the hell out of them (along with equally confusing them with how the food was ordered/delivered), they settled down a bit and we started to catch up on things. They began to comment on local stuff, basically regurgitating what people like Gov. Snyder, et al, were shoveling to the rest of the country about how things have turned around since the bankruptcy.

I laughed at their comments and replied to the effect that, “Yeah! They wish!”

“Look at all of this new stuff downtown? How can you argue that things aren’t better?”, they replied.

I told them that “Yes”, the Downtown Area has improved. Large amounts of government money tends to eventually do that. “Yes” places like the Riverfront have gotten nicer.

But then I added, the same cannot be said for the rest of the city.

They didn’t believe me.

They couldn’t accept the fact that everything was as bad as I told them it was.

I told them, “Fine, want to go on a little trip?”

They were a little apprehensious to say the least, but we loaded up into their car and we went happy motoring…away from the freeways.

I took them in places where even Crowder wouldn’t dare to venture!

We went up and down places like Jefferson, and then Warren and Mack where it didn’t take that long to notice the large swaths of bombed out/burned out neighborhoods (at least I think they were neighborhoods at one time), large piles of trash and abandoned/stolen vehicles (along with boats…yes boats) strewn about, pretty much every other building covered with graffiti, I told my now visibly scared “driver” that I wanted to stop at the next party store because I wanted to get something to drink.

Yes, I did that on purpose.

So, while we parked across the street and started walking towards the party store, I got bombarded with a ton of questions (besides is this really safe) like why that particular store had a chain-link fence around the roof topped with razor wire, why there were thick metal plate doors next to the entrance and why was there a flashing green light on the sign outside of the building. When we went inside, they did a double-take at the walkway surrounding most of the perimeter of the inside of the building separated by 1-inch thick Lexan.

I casually grabbed a 2-liter of Rock N’ Rye, they didn’t get anything (I cannot imagine why) and we went back to their car. I still had more to show them.

Continuing our “tour”, they still couldn’t get over the flashing strobe light on the sign.

“Oh that? That’s Green Light.”

And here is where out story turns to next…

{More after the fold}

You Betcha! (7)Nuh Uh.(2)