"The Catherine Avenue home where the males were located had the words "AFFA LADA" in wooden letters on the outside and appeared to be vacant.A man in the crowd said the lettering represents a local motorcycle group.
He didn't elaborate."
Thursday, June 26, 2014
Crime KILLS cities--------Police respond to reports of armed subjects, large crowd at Muskegon intersection
Police respond to reports of armed subjects, large crowd at Muskegon intersection | MLive.com:
"The Catherine Avenue home where the males were located had the words "AFFA LADA" in wooden letters on the outside and appeared to be vacant.
A man in the crowd said the lettering represents a local motorcycle group.
He didn't elaborate."
"The Catherine Avenue home where the males were located had the words "AFFA LADA" in wooden letters on the outside and appeared to be vacant.A man in the crowd said the lettering represents a local motorcycle group.
He didn't elaborate."
Revealed: The Lois Lerner Emails That Weren’t Lost | TheBlaze.com
Revealed: The Lois Lerner Emails That Weren’t Lost | TheBlaze.com:
"House Ways & Means Committee Chairman Dave Camp (R-Mich.) said Wednesday that former IRS official Lois Lerner suggested investigating Sen. Chuck Grassley (R-Iowa) before she was forced to leave her position due to the IRS targeting scandal.
According to documents unearthed by Camp, Lerner received an invitation to speak at an event that was intended for Grassley."
"House Ways & Means Committee Chairman Dave Camp (R-Mich.) said Wednesday that former IRS official Lois Lerner suggested investigating Sen. Chuck Grassley (R-Iowa) before she was forced to leave her position due to the IRS targeting scandal.According to documents unearthed by Camp, Lerner received an invitation to speak at an event that was intended for Grassley."
7 Photos Show How Detroit Hollowed Out During the Highway Age
7 Photos Show How Detroit Hollowed Out During the Highway Age | Streetsblog USA:
"While searching for images of highway interchanges in urban areas, I came across these historic aerial photos of Detroit on a message board, showing how the city fabric has slowly eroded. It’s a remarkable record of a process that has scarred many other American cities."
"While searching for images of highway interchanges in urban areas, I came across these historic aerial photos of Detroit on a message board, showing how the city fabric has slowly eroded. It’s a remarkable record of a process that has scarred many other American cities."What could possibly go wrong?--------2 new downtown Muskegon townhouses to be built with city loan
2 new downtown Muskegon townhouses to be built with city loan | MLive.com:
"MUSKEGON, MI -- In an effort to jumpstart downtown residential development, the city of Muskegon has finalized a $500,000 loan for the construction of two more "Heritage Square" townhouses on Clay Avenue.
The city commission on Tuesday, June 24 approved the loan to Gary Post's Heritage Square Development, which has built and sold four townhouses on Clay between First and Second streets.
The money to fund the loan is from the city's economic development fund.
The loan fits in with the city commission's action plan that calls for efforts to spur additional residential development downtown, said Muskegon City Manager Frank Peterson.
"We want to get these (residential developments) unstalled," Peterson said. "
This was small enough where we could have an effect on it.""
"MUSKEGON, MI -- In an effort to jumpstart downtown residential development, the city of Muskegon has finalized a $500,000 loan for the construction of two more "Heritage Square" townhouses on Clay Avenue. The city commission on Tuesday, June 24 approved the loan to Gary Post's Heritage Square Development, which has built and sold four townhouses on Clay between First and Second streets.
The money to fund the loan is from the city's economic development fund.
The loan fits in with the city commission's action plan that calls for efforts to spur additional residential development downtown, said Muskegon City Manager Frank Peterson.
"We want to get these (residential developments) unstalled," Peterson said. "
This was small enough where we could have an effect on it.""
Oregon Obamacare Employees Now Getting Cushy Bonuses
Oregon Obamacare Employees Now Getting Cushy Bonuses | The Daily Caller:
Now that Oregon’s Obamacare exchange has entirely given up on fixing or running its own Obamacare website, the state exchange is handing out hundreds of thousands of dollars in taxpayer funding as bonuses to employees that stick around until the federal government takes over.
...Thirty-eight employees will be awarded bonuses worth one to three months pay to convince them to stay on with the exchange through the next nine months.
All remaining 163 employees will be eligible for a bonus worth two weeks of government pay if they remain at the exchange through March 15.
...Hamstreet expects the bonuses to cost another $650,000 of federal taxpayer funding.
....The state-run exchange was awarded $305 million of federal taxpayer funding to create its state-run exchange, which it abandoned in April, and has so far spent over $250 million.
The exchange never launched a functional website which was able to enroll customers online, a problem which the state blames on its contractor Oracle.
Now that Oregon’s Obamacare exchange has entirely given up on fixing or running its own Obamacare website, the state exchange is handing out hundreds of thousands of dollars in taxpayer funding as bonuses to employees that stick around until the federal government takes over.
All remaining 163 employees will be eligible for a bonus worth two weeks of government pay if they remain at the exchange through March 15.
...Hamstreet expects the bonuses to cost another $650,000 of federal taxpayer funding.
....The state-run exchange was awarded $305 million of federal taxpayer funding to create its state-run exchange, which it abandoned in April, and has so far spent over $250 million.
The exchange never launched a functional website which was able to enroll customers online, a problem which the state blames on its contractor Oracle.
Ken Braun: Detroit-area bus subsidies need repairing as much as road funding does
Ken Braun: Detroit-area bus subsidies need repairing as much as road funding does | MLive.com
A $1 billion road-funding proposal to patch up Michigan’s pothole-infested pavement has been put on ice for the summer because state lawmakers won’t put up the votes to hike the gasoline tax.
Opponents argue politicians should clean up sloppy spending elsewhere in the state budget before hitting motorists up for more.
One place to start is to ask whether all Michigan mass transit riders are paying their fair share.
A big chunk of funding for Michigan’s big city bus systems comes from fuel taxes and vehicle registration fees paid by those of us who drive on the roads.
The Detroit Department of Transportation alone received $47.6 million from state taxpayers for operating revenue in 2012 (the last year of reporting in the Federal Transit Administration’s database.)
Yet, DDOT bus riders actually benefiting from the service paid just $23 million in fares.
A $1 billion road-funding proposal to patch up Michigan’s pothole-infested pavement has been put on ice for the summer because state lawmakers won’t put up the votes to hike the gasoline tax.Opponents argue politicians should clean up sloppy spending elsewhere in the state budget before hitting motorists up for more.
One place to start is to ask whether all Michigan mass transit riders are paying their fair share.
A big chunk of funding for Michigan’s big city bus systems comes from fuel taxes and vehicle registration fees paid by those of us who drive on the roads.
The Detroit Department of Transportation alone received $47.6 million from state taxpayers for operating revenue in 2012 (the last year of reporting in the Federal Transit Administration’s database.)
Yet, DDOT bus riders actually benefiting from the service paid just $23 million in fares.
No Joke: Anti-Gun Leftist Takes Aim At Cartoons
No Joke: Anti-Gun Leftist Takes Aim At Cartoons:"For Mark Joseph Stern, it is apparently not enough to enact strict gun control legislation in an effort to curb violence by making sure criminals are the only armed Americans.
In a recent Slate article, the writer lamented the ostensibly improper existence of exaggerated gun use in children’s entertainment of bygone eras."
Panera and Chili’s Turn to Tablets to Streamline Service
Panera and Chili’s Turn to Tablets to Streamline Service - NYTimes.com:
BRAINTREE, Mass. — An idea came to Ronald M. Shaich, the chief executive of Panera Bread, as he was driving his children to school about four years ago:
What if everyone could order lunch the way he did?
...They had to go to another line, and if they wanted any kind of espresso drink, we sent them to a fourth line.”
So, the corporate chieftain who once declared that “the food business is not a technology business” has spent $42 million to update Panera.
“The goal is to eliminate friction points so that customers have a better experience,” Mr. Shaich said, “because if they have a better experience, it will help our business.”
BRAINTREE, Mass. — An idea came to Ronald M. Shaich, the chief executive of Panera Bread, as he was driving his children to school about four years ago:
What if everyone could order lunch the way he did?...They had to go to another line, and if they wanted any kind of espresso drink, we sent them to a fourth line.”
So, the corporate chieftain who once declared that “the food business is not a technology business” has spent $42 million to update Panera.
“The goal is to eliminate friction points so that customers have a better experience,” Mr. Shaich said, “because if they have a better experience, it will help our business.”
TROOPATHON: Tune in to the LIVE Broadcast from the Reagan Library to Help Support the Troops
TROOPATHON: Tune in to the LIVE Broadcast from the Reagan Library to Help Support the Troops:
"Since its beginning 7 years ago, Troopathon has raised over $4.5 million for care packages for our brave men and women in harm’s way. These care packages are much appreciated by the troops and countless political pundits and celebrities have joined the efforts over the years to promote this day-long event.
The event is broadcast at www.troopathon.org and is being hosted by Stephen K. Bannon, Executive Chairman of Breitbart News Network and joined by actor and dedicated patriot Gary Sinise."
"Since its beginning 7 years ago, Troopathon has raised over $4.5 million for care packages for our brave men and women in harm’s way. These care packages are much appreciated by the troops and countless political pundits and celebrities have joined the efforts over the years to promote this day-long event.The event is broadcast at www.troopathon.org and is being hosted by Stephen K. Bannon, Executive Chairman of Breitbart News Network and joined by actor and dedicated patriot Gary Sinise."
VIDEO: Veteran Told to Pay Fine, Ditch Flag or Risk Losing His Home
VIDEO: Veteran Told to Pay Fine, Ditch Flag or Risk Losing His Home:
"A Florida veteran is at risk of losing his home. It’s not due to failure to pay his mortgage or because of any violation of the law by him. No, Larry Murphree is being threatened with foreclosure of his home by the Sweetwater HOA because of a small American flag that he displays in his flowerpot."
"A Florida veteran is at risk of losing his home. It’s not due to failure to pay his mortgage or because of any violation of the law by him. No, Larry Murphree is being threatened with foreclosure of his home by the Sweetwater HOA because of a small American flag that he displays in his flowerpot."History for June 26
History for June 26 - On-This-Day.com:
1819 - The bicycle was patented by W.K. Clarkson, Jr.
1942 - The Grumman F6F Hellcat fighter was flown for the first time.
1959 - U.S. President Eisenhower joined Britain's Queen Elizabeth II in ceremonies officially opening the St. Lawrence Seaway.
1963 - U.S. President John Kennedy announced "Ich bin ein Berliner" (I am a Berliner) at the Berlin Wall.
1976 - The CN (Canadian National) Tower in Toronto, Canada, opened.
1981 - In Mountain Home, Idaho, Virginia Campbell took her coupons and rebates and bought $26,460 worth of groceries. She only paid 67 cents after all the discounts.
1997 - The U.S. Supreme Court upheld state laws that allow for a ban on doctor-assisted suicides.
1998 - The U.S. Supreme Court ruled that employers are always potentially liable for supervisor's sexual misconduct toward an employee.
Birth anniversaries of Pearl Buck (1892-1973), Abner Doubleday (1819-1893) and Babe Didrikson Zaharias (1911-56).
Happy Birthday! Derek Jeter, Greg LeMond, Gretchen Wilson
1819 - The bicycle was patented by W.K. Clarkson, Jr.
1942 - The Grumman F6F Hellcat fighter was flown for the first time.
1959 - U.S. President Eisenhower joined Britain's Queen Elizabeth II in ceremonies officially opening the St. Lawrence Seaway.
1963 - U.S. President John Kennedy announced "Ich bin ein Berliner" (I am a Berliner) at the Berlin Wall.
1976 - The CN (Canadian National) Tower in Toronto, Canada, opened.
1981 - In Mountain Home, Idaho, Virginia Campbell took her coupons and rebates and bought $26,460 worth of groceries. She only paid 67 cents after all the discounts.
1997 - The U.S. Supreme Court upheld state laws that allow for a ban on doctor-assisted suicides.
1998 - The U.S. Supreme Court ruled that employers are always potentially liable for supervisor's sexual misconduct toward an employee.
Wednesday, June 25, 2014
http://libertyreview76.blogspot.com/2014/06/june-25-2014-all-sales-are-final-by.html
Puzzles are challenging. When you get stuck do you give up and throw it back in the box? Do you reshape the pieces and force them where you think they belong? Do you study the picture for guidance? America has had many un-American puzzle pieces forced into our picture. The original design has been ignored. What will it look like in the end?
Puzzles are challenging. When you get stuck do you give up and throw it back in the box? Do you reshape the pieces and force them where you think they belong? Do you study the picture for guidance? America has had many un-American puzzle pieces forced into our picture. The original design has been ignored. What will it look like in the end?Rep. Jim Jordan: 'At What Point Does It Become Obstruction of Justice?' | CNS News
Rep. Jim Jordan: 'At What Point Does It Become Obstruction of Justice?' | CNS News:
IRS Commissioner John Koskinen told Congress Monday night that he doesn't remember who told him in April that Lois Lerner's emails had disappeared; he "didn't do anything" when he leaned about it from whomever; and "no," he did not talk to anyone outside the IRS about the vanished emails -- not even the Justice Department.
IRS Commissioner John Koskinen told Congress Monday night that he doesn't remember who told him in April that Lois Lerner's emails had disappeared; he "didn't do anything" when he leaned about it from whomever; and "no," he did not talk to anyone outside the IRS about the vanished emails -- not even the Justice Department.Epic Rant: It Took Just 82 Seconds For Megyn Kelly To Utterly Destroy Obama
Epic Rant: It Took Just 82 Seconds For Megyn Kelly To Utterly Destroy Obama:
“We have a president who lost the trust of the American people by repeatedly misleading them.”
The Obama administration has come to a point where one of the most respected liberal law professors in the country has called our president “the very danger the Constitution was designed to avoid.”
“We have a president who lost the trust of the American people by repeatedly misleading them.”
The Obama administration has come to a point where one of the most respected liberal law professors in the country has called our president “the very danger the Constitution was designed to avoid.”
Soooo, just who IS guaranteeing these bonds?-------Detroit lighting debt illuminates bankruptcy stigma: Muni credit
Detroit lighting debt illuminates bankruptcy stigma: Muni credit | Crain's Detroit Business:
"A debt sale by an agency responsible for illuminating the streets of bankrupt Detroit will put a spotlight on bondholders and their willingness to lend after investors took an unprecedented cut on city general obligations.
On its face, the $186 million deal has no mention of Detroit: The Michigan Finance Authority will sell the bonds Wednesday for the Public Lighting Authority, an agency the state established.
The debt has an A- grade from Standard & Poor’s, four steps above junk, and the utility taxes that repay the debt flow to the agency’s trustee before the city.
Detroit, which hasn’t had a rating that high in 15 years, can’t lower the levy over the life of the securities.
Yet even with those protections, bond investors say there’s no sure thing when it comes to Detroit.
Last year, the city defaulted on general obligations before agreeing in April to pay 74 cents on the dollar on some debt.
It may also push water and sewer bondholders into a distressed-debt exchange.
.....“You have to take into account how they treated the water bonds, the sewer bonds and the general-obligation bonds,” he said.
“It’s hard to know what to trust and what not to trust.”"
"A debt sale by an agency responsible for illuminating the streets of bankrupt Detroit will put a spotlight on bondholders and their willingness to lend after investors took an unprecedented cut on city general obligations.
On its face, the $186 million deal has no mention of Detroit: The Michigan Finance Authority will sell the bonds Wednesday for the Public Lighting Authority, an agency the state established.
The debt has an A- grade from Standard & Poor’s, four steps above junk, and the utility taxes that repay the debt flow to the agency’s trustee before the city.Detroit, which hasn’t had a rating that high in 15 years, can’t lower the levy over the life of the securities.
Yet even with those protections, bond investors say there’s no sure thing when it comes to Detroit.
Last year, the city defaulted on general obligations before agreeing in April to pay 74 cents on the dollar on some debt.
It may also push water and sewer bondholders into a distressed-debt exchange.
.....“You have to take into account how they treated the water bonds, the sewer bonds and the general-obligation bonds,” he said.
“It’s hard to know what to trust and what not to trust.”"
National Archives Chief: IRS ‘Did Not Follow the Law’ by Failing to Report Lost Emails | TheBlaze.com
National Archives Chief: IRS ‘Did Not Follow the Law’ by Failing to Report Lost Emails | TheBlaze.com:
"The government’s top record-keeper said Tuesday that the IRS “did not follow the law” when it discovered it lost two years’ worth of Lois Lerner emails, but did not report that loss to the National Archives and Records Administration."
"The government’s top record-keeper said Tuesday that the IRS “did not follow the law” when it discovered it lost two years’ worth of Lois Lerner emails, but did not report that loss to the National Archives and Records Administration."Waddya bet these guys win?------Minnesota Radicals Demand Mandatory Transgender Classes Because Of Colonialism OR ELSE
Minnesota Radicals Demand Mandatory Transgender Classes Because Of Colonialism OR ELSE | The Daily Caller:
"Members of a radical leftist group at the University of Minnesota have demanded that the school confess that it “exists as a product of” colonial evil and must therefore “fundamentally” restructure to conform to their organizing principles.
The group – which calls itself “Whose Diversity?” – has chosen to remain unrecognized by the administration, it says, to avoid becoming “complicit in reproducing a homogenized notion of diversity.”
The comically lengthy list of demands is over 1,000 words longer than the Declaration of Independence.
The leftist group opposes “color-blind racism” and demands “an acknowledgement that the university exists as a product of colonialistic processes,” according to Campus Reform.
The underground group also wants the taxpayer-funded school in the Twin Cities to require that every student, regardless of major, take a class covering “gender non-conforming issues.” Members want “substantially more” courses about “marginalized peoples,” too.
There’s so much more.....
"Members of a radical leftist group at the University of Minnesota have demanded that the school confess that it “exists as a product of” colonial evil and must therefore “fundamentally” restructure to conform to their organizing principles.The group – which calls itself “Whose Diversity?” – has chosen to remain unrecognized by the administration, it says, to avoid becoming “complicit in reproducing a homogenized notion of diversity.”
The comically lengthy list of demands is over 1,000 words longer than the Declaration of Independence.
The leftist group opposes “color-blind racism” and demands “an acknowledgement that the university exists as a product of colonialistic processes,” according to Campus Reform.
The underground group also wants the taxpayer-funded school in the Twin Cities to require that every student, regardless of major, take a class covering “gender non-conforming issues.” Members want “substantially more” courses about “marginalized peoples,” too.
There’s so much more.....
Outrageous Video: DHS Trashes Couple’s Home, Strips Woman Naked at Gunpoint, Offers No Explanation
Outrageous Video: DHS Trashes Couple’s Home, Strips Woman Naked at Gunpoint, Offers No Explanation:
"One Florida couple found out the hard way that though these rights exist in theory, the modern federal government feels free to play fast-and-loose with these concepts.
At approximately 6:16 am on June 10th, 2014, Kari Edwards and her live-in boyfriend were seized upon by a SWAT team who smashed in the door and using flashbangs and armed to the teeth, swarmed upon the couple and even stripped Ms. Edwards naked in the process."
"One Florida couple found out the hard way that though these rights exist in theory, the modern federal government feels free to play fast-and-loose with these concepts.At approximately 6:16 am on June 10th, 2014, Kari Edwards and her live-in boyfriend were seized upon by a SWAT team who smashed in the door and using flashbangs and armed to the teeth, swarmed upon the couple and even stripped Ms. Edwards naked in the process."
VIDEO: WOW! Even MSNBC Admits Mainstream Media Bias in Coverage of Obama IRS Scandal
VIDEO: WOW! Even MSNBC Admits Mainstream Media Bias in Coverage of Obama IRS Scandal:
"In a rare act of professional journalism, the network only slightly to the right of Karl Marx, admitted that the mainstream media, specifically the New York Times, has been biased in favor of the Obama regime, for it’s lack of coverage of the Obama IRS scandal."
"In a rare act of professional journalism, the network only slightly to the right of Karl Marx, admitted that the mainstream media, specifically the New York Times, has been biased in favor of the Obama regime, for it’s lack of coverage of the Obama IRS scandal."Hoki crapoli!!!!!-----Brutal: 1Q GDP revised downward to minus-2.9 percent
Politics: Brutal: 1Q GDP revised downward to minus-2.9 percent | Best of Cain:
"Horrendous.
First you heard that the economy was weak the first part of the year, when the government announced that GDP growth had been only 0.1 percent.
Then you heard there was actually no growth at all, as the government revised its estimate to minus-1.0 percent.
Yeah, it not only didn't grow.
It shrunk.
But today we learn how truly horrendous the economy has become under the policies of Barack Obama, as the government admitted that the actual economic output of the nation shrank by an astounding 2.9 percent in the first quarter of 2014.
How bad it that?
It's the worst in five years, and it's way too bad for Obama to get away with blaming the weather, as he tried to do when the original sucktastic estimate came out.
Everything is horrible, but especially exports:"
"Horrendous.
First you heard that the economy was weak the first part of the year, when the government announced that GDP growth had been only 0.1 percent.
Then you heard there was actually no growth at all, as the government revised its estimate to minus-1.0 percent.Yeah, it not only didn't grow.
It shrunk.
But today we learn how truly horrendous the economy has become under the policies of Barack Obama, as the government admitted that the actual economic output of the nation shrank by an astounding 2.9 percent in the first quarter of 2014.
How bad it that?
It's the worst in five years, and it's way too bad for Obama to get away with blaming the weather, as he tried to do when the original sucktastic estimate came out.
Everything is horrible, but especially exports:"
This is a despicable family----The Clintons Attempt to Dodge Estate Taxes They Support
The Clintons Attempt to Dodge Estate Taxes They Support | Mediaite:
Bloomberg dug through the Clinton’s finances and discovered that back in 2010, the Clintons split the ownership of their multimillion-dollar New York house in half, and placed both those shares into two residence trusts. In layman’s terms, this means that any increase in the house’s value cannot be taxed and could, according to one expert, save the Clintons “hundreds of thousands of dollars in estate taxes.” (They also created a life insurance trust to lower their tax liability.)
In the midst of Hillary Clinton’s Campaign to Empathize with Poor People comes a damning report about her family’s finances: though she and her husband have both called to raise estate taxes on the wealthy, they’re actively attempting to shield their own estates from that same tax — using the same tactics they publicly denounce other millionaires for using.
Bloomberg dug through the Clinton’s finances and discovered that back in 2010, the Clintons split the ownership of their multimillion-dollar New York house in half, and placed both those shares into two residence trusts. In layman’s terms, this means that any increase in the house’s value cannot be taxed and could, according to one expert, save the Clintons “hundreds of thousands of dollars in estate taxes.” (They also created a life insurance trust to lower their tax liability.)Thankfully, there's lots of extra pork.... er .... money floating around........5 Michigan airports get $8.8 million in U.S. grants
5 Michigan airports get $8.8 million in U.S. grants | Crain's Detroit Business:
"The U.S. Transportation Department has approved $8.8 million to upgrade five airports across Michigan.
Democratic U.S. Sens. Carl Levin and Debbie Stabenow announced the funding Tuesday.
Muskegon County Airport in western Michigan's Norton Shores gets $2.2 million for research and runway work.
Kalamazoo/Battle Creek International Airport gets $1.5 million for runway work and buying new land.
Sawyer International Airport in the Upper Peninsula will use $1.1 million to improve runway lighting and buy an aircraft rescue and fire fighting vehicle.
Flint's Bishop International Airport gets $1.8 million for runway lighting upgrades, an aircraft rescue and fire fighting vehicle and a deicing containment facility.
A $2.2 million grant will help the Capital Region International Airport in Ingham County's Lansing Township expand a building and fix a runway."
"The U.S. Transportation Department has approved $8.8 million to upgrade five airports across Michigan.
Democratic U.S. Sens. Carl Levin and Debbie Stabenow announced the funding Tuesday.
Kalamazoo/Battle Creek International Airport gets $1.5 million for runway work and buying new land.
Sawyer International Airport in the Upper Peninsula will use $1.1 million to improve runway lighting and buy an aircraft rescue and fire fighting vehicle.
Flint's Bishop International Airport gets $1.8 million for runway lighting upgrades, an aircraft rescue and fire fighting vehicle and a deicing containment facility.
A $2.2 million grant will help the Capital Region International Airport in Ingham County's Lansing Township expand a building and fix a runway."
Detroit pension fund spends $30 million to fix $1-million building
Detroit pension fund spends $30 million to fix $1-million building | Detroit Free Press | freep.com
Steve Morris, assistant professor of real estate finance at the University of Michigan's Ross School of Business, says the deal doesn't add up.
"I can't fathom how they could have spent that amount of money," Morris said.
For what the pension fund paid, per square foot, to renovate the 1921 building, it could have built a "luxury marble high-rise with the latest technology."
The pension fund bought the building as an investment property, but operates its own offices out of City Hall.
The investment is among a slew of deals that have led Detroit's two public pensions to report losses of more than $480 million since 2008.
Steve Morris, assistant professor of real estate finance at the University of Michigan's Ross School of Business, says the deal doesn't add up."I can't fathom how they could have spent that amount of money," Morris said.
For what the pension fund paid, per square foot, to renovate the 1921 building, it could have built a "luxury marble high-rise with the latest technology."
The pension fund bought the building as an investment property, but operates its own offices out of City Hall.
The investment is among a slew of deals that have led Detroit's two public pensions to report losses of more than $480 million since 2008.
With time bomb ticking, city must act on pensions
With time bomb ticking, city must act on pensions - Chicago Sun-Times:
The bill could come due because of a financial arrangement, known as interest-rate swaps contracts, that the city has entered into with several banks to stabilize interest rates on about $3 billion of debt. The deals require the city to maintain a certain credit level. If Moody’s Investors Service drops Chicago a notch, the financial institutions involved could demand $110 million. Falling two more notches could add another $86 million for a grand total approaching $200 million.
For anyone needing one more harbinger of dark days to come if Chicago doesn’t take on its public employee pension albatross, the Sun-Times served one up this week.
If the city’s already-low credit rating drops just one notch — highly likely if the city’s massive police and fire pension bills aren’t dealt with — the city could be on the immediate hook for $110 million, the Sun-Times’ Dan Mihalopoulos’ reported on Wednesday.
The bill could come due because of a financial arrangement, known as interest-rate swaps contracts, that the city has entered into with several banks to stabilize interest rates on about $3 billion of debt. The deals require the city to maintain a certain credit level. If Moody’s Investors Service drops Chicago a notch, the financial institutions involved could demand $110 million. Falling two more notches could add another $86 million for a grand total approaching $200 million.Primary Musings from Oklahoma, Colorado, and Mississippi
Primary Musings from Oklahoma, Colorado, and Mississippi | The American Spectator:
"In an under-the-radar local election in Loveland, Colorado, voters rejected by 52 percent to 48 percent a moratorium on fracking, despite an onslaught of misleading ads from liberal opponents of energy development.
Voters may have noticed that Weld County, which Loveland borders, produces most of the oil in Colorado and, according to a pro-energy development group, “had the largest percentage increase in employment in the US in 2013.” Fracking bans, many disguised as measures supporting “local control”—the backing of which by Democrats should make anyone suspicious since liberals always want political power to be as far from the people as possible—may be on many other ballots across the state in November. Thus, Tuesday’s result is a welcome potential harbinger of sanity when it comes to one of Colorado’s most important industries."
It ain't over until it's over!
Chris McDaniel to Challenge Election Results:
Takeaways from a wild primary nighthttp://www.politico.com/story/2014/06/2014-primary-night-takeaways-108274.html
"In an under-the-radar local election in Loveland, Colorado, voters rejected by 52 percent to 48 percent a moratorium on fracking, despite an onslaught of misleading ads from liberal opponents of energy development.
Voters may have noticed that Weld County, which Loveland borders, produces most of the oil in Colorado and, according to a pro-energy development group, “had the largest percentage increase in employment in the US in 2013.” Fracking bans, many disguised as measures supporting “local control”—the backing of which by Democrats should make anyone suspicious since liberals always want political power to be as far from the people as possible—may be on many other ballots across the state in November. Thus, Tuesday’s result is a welcome potential harbinger of sanity when it comes to one of Colorado’s most important industries."
It ain't over until it's over!
Chris McDaniel to Challenge Election Results:
Takeaways from a wild primary nighthttp://www.politico.com/story/2014/06/2014-primary-night-takeaways-108274.html
ISIS Says they Have Nuclear Weapons to Wipe-Out Israel
ISIS Says they Have Nuclear Weapons to Wipe-Out Israel:
"Obama announced a departure date for removing troops from Iraq, destabilized Libya and has stumbled into one foreign policy disaster after another making America appear weaker and weaker and in doing so, has emboldened America’s enemies.
If this administration was half as concerned as solving problems as avoiding blame, we might actually see some progress on the war on terror. "
"Obama announced a departure date for removing troops from Iraq, destabilized Libya and has stumbled into one foreign policy disaster after another making America appear weaker and weaker and in doing so, has emboldened America’s enemies.If this administration was half as concerned as solving problems as avoiding blame, we might actually see some progress on the war on terror. "
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