This is Good-Bye - For Now
2 weeks ago
Thursday, December 23, 2010
URA Mathematics: An Inexplicable Loss Is Business As Usual "Very Fair" And A "Great Opportunity"
By the Urban Redevelopment Authority's fantasy-based mathematics and illogical business principles record and customary standards, this hosing settlement is probably a better-than-average return of investment. Not convinced? Wait until the Ravenstahl administration announces the next Iron City Brewing accounting.
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5 comments:
oh where will we construct the $9M edifice to beatify this transaction? so few good little council girls and boys these days...
What is the current value of the URA holdings? More than enough to cover the pension deficit I'll bet.
As of September 2009, the URA had $417 million in assets.
Dissolve the URA and devote its assets to the pension fund. It was raised in the last election cycle (http://postgazette.com/pg/09252/996675-100.stm), and solves three big problems that plague the city:
(1) provides needed liquidity to solve the pension funding shortfall,
(2) takes the URA out of the development business, as it now competes against private development; and
(3) perhaps most importantly, denies the slush fund by which otherwise intelligent people are kept under the URA's thumbs.
Point (3) is precisely why they will defend this golden calf to the end.
"Anonymous said...Dissolve the URA and devote its assets to the pension fund." Sounds good to me!!
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