This originally was to be a 3 part series, but is rapidly becoming more, based on what is happening in the community and the feedback I am getting. I have alternative locations for a homeless shelter that should be good choices for both residents and homeless, and I will reveal those as this series progresses.
Any discussion of the homeless must include who are they, where do they come from, and why are they homeless. It is estimated that a good percentage of the homeless are ex-military, a percentage that may be 25% or more. Many are said to be people with mental illness, now roaming the streets as state mental facilities have been downsized or closed. Many are homeless on either a short or long term because of job loss or reduced income, loss of house, domestic dispute, and various other reasons. Not all are adults. I remember a grad student in social work telling me of her study of homeless children in our region, and it numbered over 1000. I found that hard to comprehend. About 15%, a shelter director told me, want to be homeless and are unchangeable. They choose to be that way and all that can be done is to provide food and shelter. Unfortunately, no one really knows the true demographics of our homeless though a physical search and census was done recently. But there is no way to find all the homeless because, well, they are homeless and nomadic.
It is our heart felt desire to help those among us that need help. Our state is a great per capita contributor to charities, and our churches and civic groups provide much material and manpower to good causes. It may be that because we are a poor state nationally that we are all closer to those that need, can see the need first hand, and find sympathy and support easier to give. But because we are a poor state nationally in per capita income, we may also find we do not have much tolerance with those that abuse our good nature, nor continue to play upon our charity selfishly, as those of us that earn must work harder than the average American to make ends meet. This is where the root of the shelter problem comes from, mixing those who earn and want to help with those that do not.
Not all homeless are lazy and bad, and not all Wall St. bankers are crooks, but how can you tell which? I was approached (panhandled some would say) one evening in 5 Points, as happens quite frequently to me. The fellow asked me for $2 and then said “You know me”. I looked closer and yes I did. He worked at a place I eat regularly. He needed the $2 to have enough for the shelter that night. We talked for a very few minutes (I was in a hurry) and he explained that he is homeless sometimes when he cannot have enough for a cheap place and to meet expenses. He has been working at the same place for 2 years and needs the job and wants to keep it so he begged me not to mention his situation to his employer. His fear was that he would get fired if found out. I gave him $2 and have not mentioned it to his employer nor said anything of our conversation to him since. There are families, both complete and broken, that live in cars or worse, finding places to bathe as they can, and getting their children to school without anyone knowing. Or getting them in low cost/free daycare while they work. It is a rough life, very rough with danger involved, yet they work through it, always trying to do better for their children,
On the other hand, there are those with drug habits, mental illness and other problems roaming our streets. They panhandle, sometimes getting hundreds a day, only to spend it all on drugs. I knew 2 guys like that. They told me what they could make a day, and I immediately considered changing careers. They went on to blow it all on drugs, never saving any. They had stolen from family and were not welcome, only being allowed once in a while during special occasions. They also got in fights with other homeless that attempted or succeeded in stealing from them. (Stealing from other homeless by homeless is also a problem. You may have seen the article in The State recently of the almost homeless man who collects cans to pay his bills. He has to hide his stash as a homeless guy may will him and steal his daily collections.) The one I knew best appeared one day with a couple of front teeth missing.
Panhandling is a major problem where I work, on Main St. (though not so bad right now with the construction going on and the pedestrian traffic down), and to a lesser extent the Vista. I must be a panhandler magnet as I get hit many times a day, even to the point of guys trying to flag my moving car down to ask me for money, as one did earlier in the Food Lion parking lot as I this evening. To me it is only annoying, but to others it may be threatening, especially to females, and more especially to those with children in tow. With me they may argue, but I will tell them once they get annoying and doggedly persistent, where to get off. Unfortunately, this may not be the situation for a female. In this case, especially if a woman has children with her, a panhandler can be threatening, and a woman may give him money quickly to get him away. Easy marks, and panhandlers know this. So women stay away from those areas that are threatening and go to malls and other places they find safe. Panhandlers taking advantage of the weak angers me greatly. I recently decided that if I witness it I will not only confront the panhandler to leave, but ask he return the money. Panhandlers may bluster and threaten, but if you stand your ground, especially in a visible location, they will back down. However, I see most of these guys, and a few gals, quite often, so we know each other. That keeps most from trying to intimidate me like they do others.
But they do try intimidation. One restaurant tells me they come in the door and demand food. It does intimidate some of the girls, so the guys have to come from the kitchen and run the bum off. Another fellow told me the same thing happens at his place where they did come in and ask for food at the door in front of patrons. For a while he helped, but it got so out of hand they quit. Now, he says, they run in the door and grab a handful of the free peanuts in a bucket by the door and run out.
They try other ways, such as my car ran out of gas about two miles away and my wife and kids are in it and I am trying to get to_____ to start a new job in the morning and I need a few bucks for gas, or something similar. Before I knew this was a scam, I would offer a buck or two. Then I got wise and offered instead to get some gas and drive him to his car. Never any acceptance of my offer, though I did have one lady who said she needed kerosene for her heater take my offer, so we got kerosene and took it back to her place. One friend got the I need diapers for my baby at the checkout counter at Eckerd’s. She felt sorry and offered to buy the lady some, so the lady came back with the most expensive brand before my friend could get some from the rack. My friend was taken back but bought them. Then she went outside, drove her car across the street, and waited. Within a few minutes the lady came back to the store with the diapers. My friend went in to find the lady trying to get a refund. Let’s say the lady never got her refund, and the manager told my friend that it happens all the time.
I hear someone out there saying Joseph, you are making all homeless to be panhandlers and bums. No, but not all Wall St. bankers are crooks, but how do you tell? The problem is the old Adam and Eve problem: one person does something wrong and a whole lot of innocent people get branded and punished. When one homeless person plants a load of his fecal matter on my threshold (it happened about two weeks ago), I am enraged. It is bad enough that we clean out behind the dumpster one day and find it again the next, but in front of my door? College students urinate everywhere, homeless defecate. My tenants see them going behind the dumpster. They also leave clothing and other material behind it. Some sleep behind it. One crazy fellow I found living there, actually sleeping under the dumpster. He had to be on something because some days he thought he was Superman and almost jumped from my balcony. He would scream at people passing by and periodically tried to intimidate me, threatening force. I would threaten him back to get him to quit with me and those passing by. He went to jail often, which was probably a blessing to him: three hots and a cot.
Which brings up another problem. Our city is already understaffed in the police department, so dealing with homeless is a strain on the staff and the budget. One cop sees a guy in the fountain collecting pennies, washing clothes, or bathing. He confronts the man. Another cop comes arrives as back up. Soon the paddy wagon arrives to haul off the man. So we have 3 cops and three vehicles tied up, and an already understaffed force. The offender is taken to jail, and that costs the city. He goes to court and that costs the city. But he can’t pay the fine, so back to jail, and that costs again. Unfortunately, the arresting officer has to go to court to testify, taking an officer off the street. Of all the police I have spoken with, not one wants the shelter in downtown or anywhere near town. They tell me other cities give their homeless a one way ticket to Columbia, something I cannot confirm nor deny. They often have to look the other way when sleeping and loitering laws are being broken or all they would be doing is hauling homeless to jail every night, all night long, neglecting other problems that may arise at the same time. Take a look at Finlay Park, King Park, and other parks around town some evening. When you only have 5 or 6 officers in the south region on at night, and there are a dozen homeless sleeping and pooping in public areas, what are you going to do? Ignore the homeless and keep an eye on the neighborhoods, that’s what.
Trying to mix residents and homeless is an explosive situation. Parading the homeless out every morning in one of Columbia’s most visible locations is not only humiliating, but could get my friend fired if his employer saw him. The Main St. location is wrong, and the river location is not as acceptable as it was years ago when I first proposed it. It could have been, but with the residential and business closing in around, it creates another potentially toxic mix. A better location would be on Beltline in one of the old, abandoned car dealerships. That is where the Cooperative Ministries is, a wonderful helping organization that cares for homeless and others. It makes more sense to put those that need and those that provide together.
In the meantime, the group that is trying to make the Main St. shelter a reality needs to stop and truly address the problem. They are following their hearts, but also letting their hearts, not their heads, lead them. We must solve problems, not take actions that assuage some group’s guilt, or create an artificial warm and fuzzy feeling of goodness. To mix residents and homeless creates a unspoken anger and seething, boiling relentlessly below the surface, as well as a fear in residents.
In the next installment I will address opportunities, responsibilities, the general unspoken opinion of the public, and another one or two possibly excellent locations for a homeless shelter, if I can fit it all into a semi-compact newsletter.
Monday, October 27, 2008
Tuesday, October 14, 2008
Please forward to your friends and neighbors. (10-14-08)
3 seats and 13 candidates!
WHO ARE YOU GOING TO VOTE FOR ?
CANDIDATES-AT-LARGE FOR RICHLAND COUNTY SCHOOL BOARD FORUM
WESLEY MEMORIAL METHODIST CHURCH
2501 Heyward Street in Shandon
This Thursday, October 16 at 6:30pm
Sponsored by Columbia Neighborhood Associations
League of Women Voters of the Columbia Area
WHO ARE YOU GOING TO VOTE FOR ?
CANDIDATES-AT-LARGE FOR RICHLAND COUNTY SCHOOL BOARD FORUM
WESLEY MEMORIAL METHODIST CHURCH
2501 Heyward Street in Shandon
This Thursday, October 16 at 6:30pm
Sponsored by Columbia Neighborhood Associations
League of Women Voters of the Columbia Area
Monday, October 13, 2008
Kenny's Update - Time Sensitive Information (10-13-08)
The Kenny project goes before zoning tomorrow for exception, as seen below. Resistance is not of an aggravated nature this time, but of concern for the area. Those I have spoken with have expressed concern for traffic and safety issues, and looking at the mirror recommendation, I have the same concern. If this facility’s drive through is used frequently like all banks and drugstores are, I can foresee real problems with cars, pedestrians, and bicycles. There needs to be a better way to create visibility than trying to use convex mirrors, or we will experience accidents, some fatal, at this location.
Good design should be required, style that reflects the area. The rear of the building, visible, should have design requirements just as the front. When I built Upstairs Audio & Video, the rear-adjacent to the PO-was designed with concrete block and approved by city. When I saw what was to be, I spent an extra $5000 to cover the new, visible 20’ feet with brick, the part down the alley I left as block as it is not seen, especially with a tree covering the alley entrance. But I felt that ugly was not acceptable, so I spent to correct it, even though the city did not require or care.
I am not sure that a scrolling sign is allowed within 50’ of the street inside the city limits. If Walgreens is allowed, then I am putting one up too!
A great concern of the residents is the lack of communication city staff has had with the residents on this, as well as on the part of the developers. I do not believe the residents will oppose this project, they just want to insure that it is a class act, not a corporate design and construction job. Yes, they feel the creep of pushing the limits of the guidelines so ardently created is not good, and a bit of a slap to the residents yet an easy concession to developers. I concur. If guidelines are going to be set so as to preserve an area, then stick to them. Don’t creep them or you violate & lose the whole concept. This has happened again and again and again in Columbia, ultimately costing us so many valuable historical and architecturally significant structures to so called development, which turned out to be shoddy, cheap in design, and just unattractive. And it did not last too long, either, bringing no lasting economic benefits. Main St. is a classic example.
Maybe we should get a clue from cities 100 miles from us, Charlotte and Charleston. They have better design than us, whether because or requirement, encouragement, pride, or competition. Our city leaders should encourage the same.
________________________________________
Neighbors and Friends –
As information, final approval of the construction plan of the Walgreen's on the former Kenny’s site (the corner of Blossom and Saluda in Five Points) will be tomorrow, Tuesday, October 14, 2008 at the 10:00 am Columbia Board of Zoning Appeals meeting (open to the public) in City Council Chambers, 3rd Floor, City Hall, 1737 Main Street, Columbia, South Carolina.
Developers' Request to Exceed Size Limitation
In their last meetings, on September 9, 2008, both the Columbia Board of Zoning Appeals (“BOZA”) and the Design/Development Review Commission (“DDRC”) approved the developers’ plan for construction of a Walgreen’s on the former Kenny’s site notwithstanding concerns and questions based on pedestrian safety, design issues, and signage.** (See end of email for details.)
Tomorrow, the final issue – the size of the Walgreen’s store will be considered. The developers are requesting that they be allowed to exceed the maximum size requirement of 10,000 square feet to 13,813 square feet.
At this point, public money is no longer being proposed for this property and we welcome private development in Five Points. However, we do continue to have concerns with the City's process. Andy Marion, President of Wales Garden Neighborhood Association, summarizes the situation as follows:
“The developers’ current plans propose a building of almost 14,000 square feet, which is 40% larger than the maximum of the 10,000 square feet allowed outright under the new Future Five MX-1 zoning overlay for Five Points. I believe that the reason for the overlay is to keep the Five Points village feel. It is discouraging that the first major development since the approval of the new guidelines would be a large-box chain store that is significantly bigger than the MX-1 zoning allows without concern on the part of the City staff. It is also discouraging to learn of this need for a zoning exception so late in the game after the site's plans are at the final stage of approval by the City.”
References
For BOZA staff’s case summary and to check out the proposed designs for Walgreen’s, refer to the following link:
http://www.columbiascgateway.com/content/pdf_PZ/BoZA_packet_2008_10_14_Saluda_700.pdf
For confirmation and additional information, refer to the BOZA agenda at the following link: http://www.columbiascgateway.com/content/pdf_PZ/BoZA_2008_10_14_Agenda.pdf
If you have questions or need additional information regarding this matter, contact Mike Conley, the City Staff member in the zoning department, which is under Planning and Development Services. His telephone number is 545-3204 and email address is cmconley@columbiasc.net.
Caroline Watson
516 Congaree Avenue
** Concerns raised in last month's meetings were the following:
1. Pedestrian safety – a “blind” drive-through exiting the property onto Blossom Street (i.e., drivers are unable to view pedestrians or oncoming traffic except for traffic mirrors) and allowing an entrance and exit at the Saluda Street corner of Blossom pose an unnecessary hazard at one of the most heavily traveled sections of roadway in Richland County.
2. Design issues – the design of the building faces Saluda Avenue and Blossom Street. Design concerns included:
• The "back" of the building, which accomodates delivery and other commercial functions, has no pedestrian elements even though it faces Devine and Santee Avenue (i.e., just two blank brick walls without window facades or other design elements intended to soften the effect of the building). Staff's recommendation to allow the blank brick walls facing Devine and Santee rests on the assumption that the future construction will cover the view of the walls. However, there is no guarantee when the other buildings will be built, if at all, nor that the new construction design will block the view.
• The approved design appears to be the typical corporate design of Walgreen’s buildings with little or no reflection of the village feel or conformity to the Future Five Design/Development Guidelines. (The McDonald’s in the Vista is a good example of changing a corporate design to a design molded to the feel of the surrounding area.)
• The designs for the bank and additional retail construction have not been submitted for approval and there is no construction timeline. It is the position of Planning Staff that no such approval will be required.
3. Signage – there will be an independent LED lighted sign with scrolling advertising on the corner of Blossom and Saluda. On the front of the Walgreen’s building will be an additional lighted red neon sign. Both types of signs are specifically discouraged in the Future Five Design/Development Guidelines.
Residents presented all of the above issues before the DDRC as well as the pedestrian safety issue before both BOZA and the DDRC. There was no collaboration with the surrounding neighborhoods during the design or plan development process nor was notice given to any member of the public prior to submission of the final recommendation by Staff to the Board or Commission. It is the position of Staff that there is no vehicle to provide notice to any interested party other than the 15-day public postings on the property being considered.
Caroline N. Watson
Industry Transitions Consulting
516 Congaree Avenue
Columbia, SC 29205
USA
803.252.6507 (tel)
775.535.3645 (fax)
Good design should be required, style that reflects the area. The rear of the building, visible, should have design requirements just as the front. When I built Upstairs Audio & Video, the rear-adjacent to the PO-was designed with concrete block and approved by city. When I saw what was to be, I spent an extra $5000 to cover the new, visible 20’ feet with brick, the part down the alley I left as block as it is not seen, especially with a tree covering the alley entrance. But I felt that ugly was not acceptable, so I spent to correct it, even though the city did not require or care.
I am not sure that a scrolling sign is allowed within 50’ of the street inside the city limits. If Walgreens is allowed, then I am putting one up too!
A great concern of the residents is the lack of communication city staff has had with the residents on this, as well as on the part of the developers. I do not believe the residents will oppose this project, they just want to insure that it is a class act, not a corporate design and construction job. Yes, they feel the creep of pushing the limits of the guidelines so ardently created is not good, and a bit of a slap to the residents yet an easy concession to developers. I concur. If guidelines are going to be set so as to preserve an area, then stick to them. Don’t creep them or you violate & lose the whole concept. This has happened again and again and again in Columbia, ultimately costing us so many valuable historical and architecturally significant structures to so called development, which turned out to be shoddy, cheap in design, and just unattractive. And it did not last too long, either, bringing no lasting economic benefits. Main St. is a classic example.
Maybe we should get a clue from cities 100 miles from us, Charlotte and Charleston. They have better design than us, whether because or requirement, encouragement, pride, or competition. Our city leaders should encourage the same.
________________________________________
Neighbors and Friends –
As information, final approval of the construction plan of the Walgreen's on the former Kenny’s site (the corner of Blossom and Saluda in Five Points) will be tomorrow, Tuesday, October 14, 2008 at the 10:00 am Columbia Board of Zoning Appeals meeting (open to the public) in City Council Chambers, 3rd Floor, City Hall, 1737 Main Street, Columbia, South Carolina.
Developers' Request to Exceed Size Limitation
In their last meetings, on September 9, 2008, both the Columbia Board of Zoning Appeals (“BOZA”) and the Design/Development Review Commission (“DDRC”) approved the developers’ plan for construction of a Walgreen’s on the former Kenny’s site notwithstanding concerns and questions based on pedestrian safety, design issues, and signage.** (See end of email for details.)
Tomorrow, the final issue – the size of the Walgreen’s store will be considered. The developers are requesting that they be allowed to exceed the maximum size requirement of 10,000 square feet to 13,813 square feet.
At this point, public money is no longer being proposed for this property and we welcome private development in Five Points. However, we do continue to have concerns with the City's process. Andy Marion, President of Wales Garden Neighborhood Association, summarizes the situation as follows:
“The developers’ current plans propose a building of almost 14,000 square feet, which is 40% larger than the maximum of the 10,000 square feet allowed outright under the new Future Five MX-1 zoning overlay for Five Points. I believe that the reason for the overlay is to keep the Five Points village feel. It is discouraging that the first major development since the approval of the new guidelines would be a large-box chain store that is significantly bigger than the MX-1 zoning allows without concern on the part of the City staff. It is also discouraging to learn of this need for a zoning exception so late in the game after the site's plans are at the final stage of approval by the City.”
References
For BOZA staff’s case summary and to check out the proposed designs for Walgreen’s, refer to the following link:
http://www.columbiascgateway.com/content/pdf_PZ/BoZA_packet_2008_10_14_Saluda_700.pdf
For confirmation and additional information, refer to the BOZA agenda at the following link: http://www.columbiascgateway.com/content/pdf_PZ/BoZA_2008_10_14_Agenda.pdf
If you have questions or need additional information regarding this matter, contact Mike Conley, the City Staff member in the zoning department, which is under Planning and Development Services. His telephone number is 545-3204 and email address is cmconley@columbiasc.net.
Caroline Watson
516 Congaree Avenue
** Concerns raised in last month's meetings were the following:
1. Pedestrian safety – a “blind” drive-through exiting the property onto Blossom Street (i.e., drivers are unable to view pedestrians or oncoming traffic except for traffic mirrors) and allowing an entrance and exit at the Saluda Street corner of Blossom pose an unnecessary hazard at one of the most heavily traveled sections of roadway in Richland County.
2. Design issues – the design of the building faces Saluda Avenue and Blossom Street. Design concerns included:
• The "back" of the building, which accomodates delivery and other commercial functions, has no pedestrian elements even though it faces Devine and Santee Avenue (i.e., just two blank brick walls without window facades or other design elements intended to soften the effect of the building). Staff's recommendation to allow the blank brick walls facing Devine and Santee rests on the assumption that the future construction will cover the view of the walls. However, there is no guarantee when the other buildings will be built, if at all, nor that the new construction design will block the view.
• The approved design appears to be the typical corporate design of Walgreen’s buildings with little or no reflection of the village feel or conformity to the Future Five Design/Development Guidelines. (The McDonald’s in the Vista is a good example of changing a corporate design to a design molded to the feel of the surrounding area.)
• The designs for the bank and additional retail construction have not been submitted for approval and there is no construction timeline. It is the position of Planning Staff that no such approval will be required.
3. Signage – there will be an independent LED lighted sign with scrolling advertising on the corner of Blossom and Saluda. On the front of the Walgreen’s building will be an additional lighted red neon sign. Both types of signs are specifically discouraged in the Future Five Design/Development Guidelines.
Residents presented all of the above issues before the DDRC as well as the pedestrian safety issue before both BOZA and the DDRC. There was no collaboration with the surrounding neighborhoods during the design or plan development process nor was notice given to any member of the public prior to submission of the final recommendation by Staff to the Board or Commission. It is the position of Staff that there is no vehicle to provide notice to any interested party other than the 15-day public postings on the property being considered.
Caroline N. Watson
Industry Transitions Consulting
516 Congaree Avenue
Columbia, SC 29205
USA
803.252.6507 (tel)
775.535.3645 (fax)
How many does it take to....... (10-13-08)
I am sure there is a joke in here somewhere about how many people from Columbia does it take to recognize a homeless shelter, since Columbia City Council paid to fly 24 people to Miami for a day to visit a homeless shelter there. I wonder why 24? And I wonder, how much? Since the city cannot afford Christmas lights, where did they find the money for such a junket? And who were the privileged few? Was this a good buddy networking junket, as useless as Coble’s NYC Macy’s junket in the early 90’s? (Don’t remember that one? Macy’s announced plans to abandoned downtown, so our mayor makes a special trip to NYC to visit them. Of course, Macy’s had already made the decision, so his junket was useless, except a nice fall holiday trip to the city for our mayor.)
So, why so many? Maybe a nice reward for a group of people who support our council and mayor? In this economic climate I would want to believe our council would be much more cautious about the money they spend, applying it to the necessities and being frugal in the way they research issues.
In the early 90’s, Rick Baty had an idea for a program he called Agriculture in the City. A brilliant idea I thought, whereby the homeless would plant, cultivate and harvest fruits, vegetables and flowers on unused city land. With these, they could either feed themselves, or sell for income. Rick identified many plots, including small ones in traffic circles and rights of ways. I was so taken with the idea that I promoted it every council race I was in, and promised Rick that I would do so until either it happened or I quit running. Unfortunately, Rick passed away at a young age, and I quit running 2 ½ years ago. But his concept led me to think about possibilities for the homeless and add to his concept.
My thinking led me to propose a comprehensive homeless facility by the river. There is much land, unattractive to most, noisy and dirty next to I-126, Huger, Elmwood and the cemetery, industrial in nature, some being in the floodplain and under the overpass, that could be used. It is not very desirable, yet meets the requirements of those I talked with about being on a bus line and close to the in town services the homeless need. On the floodplain areas, recreation fields for soccer, baseball and other sports can be created, along with land for agriculture, as it floods infrequently. There is also more land adjacent that is out of the floodplain that may be used for those activities along with building a comprehensive facility with showers, mail stop, telephones, day shelter, wet shelter, night shelter, education, job training, and satellite offices of most of the agencies that work with the homeless. If memory serves me correctly, the idea for the recreation fields was also Rick’s, not mine. The rest, mine, cultivated from the ideas Rick seeded.
This concept I have pushed for years, mostly against the grain of the powers that be, including the intelligentsia of Columbia. Now, many years later, they “discover” the area and its suitability for the homeless. Though it is still a reasonable place to create this concept, it is not as suitable as it was even 4 years ago. Now it has new housing, new offices, a children’s puppet theater, revitalized neighborhoods, more retail, all competing to be viable. Mixing in the homeless is not a grand idea in this situation.
Let me stop here and say that the Main and Elmwood location is absolutely the wrong place to establish a comprehensive homeless center. The neighbors do not want it, the businesses of Downtown, 5 Points and the Vista do not, the library staff does not, and the police do not. But many affected will not voice opposition due to political correctness or political reasons. I can speak from experience in 5 Points as to the intensity of the situation as I am panhandled frequently every day, find clothes and materials on my roof and behind my dumpster that the area police recognize as from homeless, find soiled diapers and human excrement frequently behind the dumpster throughout the week, and last week found excrement in my doorway on ground level. I have even found homeless using my dumpster area as a home. I have a heart and have tried to help in many ways, including employment, but handling these types of homeless people is beyond my skill level. Not all homeless are this way, with many desiring to improve and rise out of the situation they are in. Not all Wall St. bankers are crooks either, but how do you tell the difference? Mixing people of different cultures and attitudes that clash horrendously just invites seething anger and fear, as well as physical confrontations.
There is a better place to situate the shelter, one that would cost less, provide more area, be well buffered from the city population, reduce confrontations, and allow dignity for the homeless. Fields for recreation and agriculture would be available, potential river access for fishing, area for shelters and training facilities, along with satellite offices for helping agencies. It would reduce the homeless population within the city that causes so much of a problem and allow easier enforcement of city laws that are so often broken by the homeless, but ignored by the police due to necessity. Reducing the city center homeless population and confrontations with citizens will help to revitalize central retail efforts and protect central housing growth.
This and more I will discuss in my next issue. In the meantime, your comments are welcomed.
Joseph Azar
So, why so many? Maybe a nice reward for a group of people who support our council and mayor? In this economic climate I would want to believe our council would be much more cautious about the money they spend, applying it to the necessities and being frugal in the way they research issues.
In the early 90’s, Rick Baty had an idea for a program he called Agriculture in the City. A brilliant idea I thought, whereby the homeless would plant, cultivate and harvest fruits, vegetables and flowers on unused city land. With these, they could either feed themselves, or sell for income. Rick identified many plots, including small ones in traffic circles and rights of ways. I was so taken with the idea that I promoted it every council race I was in, and promised Rick that I would do so until either it happened or I quit running. Unfortunately, Rick passed away at a young age, and I quit running 2 ½ years ago. But his concept led me to think about possibilities for the homeless and add to his concept.
My thinking led me to propose a comprehensive homeless facility by the river. There is much land, unattractive to most, noisy and dirty next to I-126, Huger, Elmwood and the cemetery, industrial in nature, some being in the floodplain and under the overpass, that could be used. It is not very desirable, yet meets the requirements of those I talked with about being on a bus line and close to the in town services the homeless need. On the floodplain areas, recreation fields for soccer, baseball and other sports can be created, along with land for agriculture, as it floods infrequently. There is also more land adjacent that is out of the floodplain that may be used for those activities along with building a comprehensive facility with showers, mail stop, telephones, day shelter, wet shelter, night shelter, education, job training, and satellite offices of most of the agencies that work with the homeless. If memory serves me correctly, the idea for the recreation fields was also Rick’s, not mine. The rest, mine, cultivated from the ideas Rick seeded.
This concept I have pushed for years, mostly against the grain of the powers that be, including the intelligentsia of Columbia. Now, many years later, they “discover” the area and its suitability for the homeless. Though it is still a reasonable place to create this concept, it is not as suitable as it was even 4 years ago. Now it has new housing, new offices, a children’s puppet theater, revitalized neighborhoods, more retail, all competing to be viable. Mixing in the homeless is not a grand idea in this situation.
Let me stop here and say that the Main and Elmwood location is absolutely the wrong place to establish a comprehensive homeless center. The neighbors do not want it, the businesses of Downtown, 5 Points and the Vista do not, the library staff does not, and the police do not. But many affected will not voice opposition due to political correctness or political reasons. I can speak from experience in 5 Points as to the intensity of the situation as I am panhandled frequently every day, find clothes and materials on my roof and behind my dumpster that the area police recognize as from homeless, find soiled diapers and human excrement frequently behind the dumpster throughout the week, and last week found excrement in my doorway on ground level. I have even found homeless using my dumpster area as a home. I have a heart and have tried to help in many ways, including employment, but handling these types of homeless people is beyond my skill level. Not all homeless are this way, with many desiring to improve and rise out of the situation they are in. Not all Wall St. bankers are crooks either, but how do you tell the difference? Mixing people of different cultures and attitudes that clash horrendously just invites seething anger and fear, as well as physical confrontations.
There is a better place to situate the shelter, one that would cost less, provide more area, be well buffered from the city population, reduce confrontations, and allow dignity for the homeless. Fields for recreation and agriculture would be available, potential river access for fishing, area for shelters and training facilities, along with satellite offices for helping agencies. It would reduce the homeless population within the city that causes so much of a problem and allow easier enforcement of city laws that are so often broken by the homeless, but ignored by the police due to necessity. Reducing the city center homeless population and confrontations with citizens will help to revitalize central retail efforts and protect central housing growth.
This and more I will discuss in my next issue. In the meantime, your comments are welcomed.
Joseph Azar
Saturday, October 11, 2008
Greed, Power, and the Love of Money (10-11-08)
I really enjoyed this article by Mike Dubose and wanted to pass it along. He kindly has granted permission. Unfortunately for me, money has never been one of my loves or I would have been a very rich man by now. But I find riches elsewhere, such as good health, good friends, good laughs, good experiences and accomplishments, excitement for the future, helping others, and those of you who read the newsletter and contribute, for it is a wonderful gift you give to me.
Thank you Mike, for a good article and allowing me to send it to others.
My assistant should be sending it to you shortly. Thank you again for considering our work. More articles will be posted shortly. Watch my web site www.mikedubose.com
Thanks, Mike
………………
Joseph—
Thank you for your request to use the article “Greed, Power, and the Love of Money,” written and copyrighted by Mike DuBose. Per your request, you may publish this article in your newsletter during the year 2008. This e-mail serves as official written permission for you to do so. I have attached the file to this e-mail. Thanks again for your interest in Mike’s work and please let me know if you have any questions or comments.
Sincerely,
Katie Beck
Executive Assistant
Research Associates
169 Laurelhurst Ave.
Columbia, SC 29210
(803) 454-2007
katie@grantexperts.com
www.grantexperts.com
………………………………………………………………………………………………………………………………………………………………….
Greed, Power, and the Love of Money: A Formula for Business Disaster
By Mike DuBose
America, one of the wealthiest nations in the world, has a large population that enjoys a standard of life far higher than that of most people on Earth. Even our poorest citizens are considered rich by people in some Third World countries.
“Americans are not ashamed of amassing huge quantities of material things, a mindset that differentiates us from much of the rest of the world. ‘Making it big’ and ‘having it all’ are part and parcel of the American Dream,” writes Diane Coutu, senior editor at Harvard Business Journal. Unfortunately, much of America’s economic success is driven by greed and the desire for power and money. Our nation is obsessed with these things, and the more we get, the more we want—even if our greed threatens to destroy us. Though many Americans share the motto “Greed is good,” like Gordon Gekko, played by Michael Douglas in the 1987 film Wall Street, their greed will eventually lead to punishment for their actions.
The Enron scandal demonstrated how money, power, and the accompanying greed can grow exponentially once we allow ourselves to start down that slippery slope. Our judgment becomes impaired, ethics compromised, and our management style blinded with ambition. What drives people who are so powerful and wealthy to take a path that can lead to prison and, in Ken Lay’s case, death? As I sadly followed the Enron story, I asked myself, “When is enough, enough?”
POWER: I worked for two governors in the 1980’s and was a campaign strategist for politicians from both parties. Thus, I was exposed to many powerful people. I found that many politicians have a high opinion of themselves, often seeking election out of a need for power and recognition that becomes insatiable once they’re in office.
Business leaders are not immune to this lust for power. When I was around those prominent people, I felt powerful, too! However, in Good to Great, Jim Collins contends that the most successful leaders do not intentionally seek power or recognition. In fact, he describes them as humble. Servant leaders earn recognition and power and lead with care, respect and ethical behavior. My early access to powerful people led to problems I had with one of the seven deadly sins later in life . . .
GREED: Once, a colleague told me with great conviction, “Mike, you have a mean greedy streak! And one day, it’s going to be your downfall!”
I was taken aback by her criticism but reluctantly admitted that she was right. At the time, all I thought of was making more and more money. I was on an unyielding course of self-destruction and was determined to become a multimillionaire and own a corporate jet no matter what the intangible costs. I was allowing greed to control my life, sacrificing the well-being of my staff, my family and myself.
My colleague’s words, with God’s help, caused me to take inventory of my life. I realized that my lust for money and power came from a deep-seated need to overcome feelings from my childhood. Freud was right—childhood experiences influence our adult lives.
My parents divorced in an era when people stayed married for life and my mother struggled financially. When I was in high school, we moved into the “big city” of Darlington, SC and I quickly ensconced myself with the popular crowd. They all had dreams of going to college, so I decided to go, too. When I met with my guidance counselor, she was not very encouraging.
“Mike,” she said with a smirk on her face, “College is just a waste of time for you. You will never amount to anything!”
However, I went on to college and graduated in three years with honors and later obtained a graduate degree. Fast forward 30 years: my childhood insecurities fueled my desire for wealth and power. If you had asked me two years ago what I liked to do for fun, my answer would have been, “I like to make money! It’s fun!” And the problem was…I was good at it!
LOVE OF MONEY: Money isn’t the root of all evil—the love of money is. Recently, I shared with a well-known Midlands millionaire my passion for helping other business owners learn from my mistakes now that I had achieved reasonable success. I told him that I never dreamed I would accomplish the things I have and that I was satisfied with where I was in my life. Without blinking, he quipped, “Not me!” Sadly, I see many business owners like him, flying blindly down the road of unhappiness, driven by the insatiable success itch, chasing that elusive gold at the end of the rainbow.
Greed, power, and the love of money have ruined many business owners—and their companies. Blinded by their lust for more power and money, they self-destruct, leaving behind insecure children and unhappy spouses, not to mention the poor health they experience from the stress of never reaching their unattainable goals.
BEATING THE MONSTER: If you’re the captain of the ship and greed and power are steering you toward an iceberg, change course! The scenery may be a little nicer on the other route, but you may find that you’ll be just as content taking a slower-paced journey.
Recently, I promised my employees that money will not drive our company or the decisions we make. My team leaders and I remain keenly aware that we have to pay the bills and make a good profit, but if we don’t run people into the ground trying to keep the money rolling in, I believe the result will be happier employees who work smarter, not harder. We also decided to give away half the profits that Columbia Conference Center generates to charity and schools to make our world a better place.
I have learned firsthand that it’s much more productive to appreciate what you have. Hold on to high quality standards, but be satisfied with a little less of the green stuff. Personally, I have learned that inner peace and contentment pay much richer dividends than a whopping cash flow. By the way, I still haven’t given up on that corporate jet!
--
Mike DuBose is a field instructor with USC’s graduate school, and has been in business since 1981. He is the servant leader and owner of six debt-free corporations, including Columbia Conference Center, Research Associates and The Evaluation Group. Mike is writing his book The Art of Building a Great Business, to be released in late 2008. For more information and helpful articles, visit www.mikedubose.com.
© Copyright 2008 by Mike DuBose. All Rights Reserved. You have permission to forward this article to a friend or colleague and to distribute it as part of personal or professional use during the year 2008 in its full content with all credits to the author. However, no part of this article may be altered or published in any other manner without the written consent of the author. If you would like written approval to post this information on an appropriate web site or to publish this information, please contact Katie Beck at Katie@grantexperts.com and explain how the article will be used. We appreciate you honoring our hard work and we try to accommodate any requests in a timely fashion. Shorter versions of some articles are available upon request.
Thank you Mike, for a good article and allowing me to send it to others.
My assistant should be sending it to you shortly. Thank you again for considering our work. More articles will be posted shortly. Watch my web site www.mikedubose.com
Thanks, Mike
………………
Joseph—
Thank you for your request to use the article “Greed, Power, and the Love of Money,” written and copyrighted by Mike DuBose. Per your request, you may publish this article in your newsletter during the year 2008. This e-mail serves as official written permission for you to do so. I have attached the file to this e-mail. Thanks again for your interest in Mike’s work and please let me know if you have any questions or comments.
Sincerely,
Katie Beck
Executive Assistant
Research Associates
169 Laurelhurst Ave.
Columbia, SC 29210
(803) 454-2007
katie@grantexperts.com
www.grantexperts.com
………………………………………………………………………………………………………………………………………………………………….
Greed, Power, and the Love of Money: A Formula for Business Disaster
By Mike DuBose
America, one of the wealthiest nations in the world, has a large population that enjoys a standard of life far higher than that of most people on Earth. Even our poorest citizens are considered rich by people in some Third World countries.
“Americans are not ashamed of amassing huge quantities of material things, a mindset that differentiates us from much of the rest of the world. ‘Making it big’ and ‘having it all’ are part and parcel of the American Dream,” writes Diane Coutu, senior editor at Harvard Business Journal. Unfortunately, much of America’s economic success is driven by greed and the desire for power and money. Our nation is obsessed with these things, and the more we get, the more we want—even if our greed threatens to destroy us. Though many Americans share the motto “Greed is good,” like Gordon Gekko, played by Michael Douglas in the 1987 film Wall Street, their greed will eventually lead to punishment for their actions.
The Enron scandal demonstrated how money, power, and the accompanying greed can grow exponentially once we allow ourselves to start down that slippery slope. Our judgment becomes impaired, ethics compromised, and our management style blinded with ambition. What drives people who are so powerful and wealthy to take a path that can lead to prison and, in Ken Lay’s case, death? As I sadly followed the Enron story, I asked myself, “When is enough, enough?”
POWER: I worked for two governors in the 1980’s and was a campaign strategist for politicians from both parties. Thus, I was exposed to many powerful people. I found that many politicians have a high opinion of themselves, often seeking election out of a need for power and recognition that becomes insatiable once they’re in office.
Business leaders are not immune to this lust for power. When I was around those prominent people, I felt powerful, too! However, in Good to Great, Jim Collins contends that the most successful leaders do not intentionally seek power or recognition. In fact, he describes them as humble. Servant leaders earn recognition and power and lead with care, respect and ethical behavior. My early access to powerful people led to problems I had with one of the seven deadly sins later in life . . .
GREED: Once, a colleague told me with great conviction, “Mike, you have a mean greedy streak! And one day, it’s going to be your downfall!”
I was taken aback by her criticism but reluctantly admitted that she was right. At the time, all I thought of was making more and more money. I was on an unyielding course of self-destruction and was determined to become a multimillionaire and own a corporate jet no matter what the intangible costs. I was allowing greed to control my life, sacrificing the well-being of my staff, my family and myself.
My colleague’s words, with God’s help, caused me to take inventory of my life. I realized that my lust for money and power came from a deep-seated need to overcome feelings from my childhood. Freud was right—childhood experiences influence our adult lives.
My parents divorced in an era when people stayed married for life and my mother struggled financially. When I was in high school, we moved into the “big city” of Darlington, SC and I quickly ensconced myself with the popular crowd. They all had dreams of going to college, so I decided to go, too. When I met with my guidance counselor, she was not very encouraging.
“Mike,” she said with a smirk on her face, “College is just a waste of time for you. You will never amount to anything!”
However, I went on to college and graduated in three years with honors and later obtained a graduate degree. Fast forward 30 years: my childhood insecurities fueled my desire for wealth and power. If you had asked me two years ago what I liked to do for fun, my answer would have been, “I like to make money! It’s fun!” And the problem was…I was good at it!
LOVE OF MONEY: Money isn’t the root of all evil—the love of money is. Recently, I shared with a well-known Midlands millionaire my passion for helping other business owners learn from my mistakes now that I had achieved reasonable success. I told him that I never dreamed I would accomplish the things I have and that I was satisfied with where I was in my life. Without blinking, he quipped, “Not me!” Sadly, I see many business owners like him, flying blindly down the road of unhappiness, driven by the insatiable success itch, chasing that elusive gold at the end of the rainbow.
Greed, power, and the love of money have ruined many business owners—and their companies. Blinded by their lust for more power and money, they self-destruct, leaving behind insecure children and unhappy spouses, not to mention the poor health they experience from the stress of never reaching their unattainable goals.
BEATING THE MONSTER: If you’re the captain of the ship and greed and power are steering you toward an iceberg, change course! The scenery may be a little nicer on the other route, but you may find that you’ll be just as content taking a slower-paced journey.
Recently, I promised my employees that money will not drive our company or the decisions we make. My team leaders and I remain keenly aware that we have to pay the bills and make a good profit, but if we don’t run people into the ground trying to keep the money rolling in, I believe the result will be happier employees who work smarter, not harder. We also decided to give away half the profits that Columbia Conference Center generates to charity and schools to make our world a better place.
I have learned firsthand that it’s much more productive to appreciate what you have. Hold on to high quality standards, but be satisfied with a little less of the green stuff. Personally, I have learned that inner peace and contentment pay much richer dividends than a whopping cash flow. By the way, I still haven’t given up on that corporate jet!
--
Mike DuBose is a field instructor with USC’s graduate school, and has been in business since 1981. He is the servant leader and owner of six debt-free corporations, including Columbia Conference Center, Research Associates and The Evaluation Group. Mike is writing his book The Art of Building a Great Business, to be released in late 2008. For more information and helpful articles, visit www.mikedubose.com.
© Copyright 2008 by Mike DuBose. All Rights Reserved. You have permission to forward this article to a friend or colleague and to distribute it as part of personal or professional use during the year 2008 in its full content with all credits to the author. However, no part of this article may be altered or published in any other manner without the written consent of the author. If you would like written approval to post this information on an appropriate web site or to publish this information, please contact Katie Beck at Katie@grantexperts.com and explain how the article will be used. We appreciate you honoring our hard work and we try to accommodate any requests in a timely fashion. Shorter versions of some articles are available upon request.
Thursday, October 9, 2008
Columbia Bankrupt? (10-9-08)
Is it? I say so, just as I have for quite a few years. I have called it functional bankruptcy, my way of saying it does not have the money to operate at the level it is for anytime in the future, but can continue to operate under cover as the real expenses of now and the future have never been made public, thereby shielding the public from the truth. What the council and city administrators know is that all revenue streams must be increased in order to try to avoid revealing the ugly truth, and those revenue streams must be increased as stealthily as possible. You can see it in new parking meters where none were; in more fines and increased fines; in the quadrupling of tap fees in 2 years; in the water runoff tax, especially on properties that really are absorbent, such as one my mother owns that is soil covered only about 30% with crushed rock, which actually retains water rather than letting it runoff, but city officials refuse to acknowledge that and no council member or mayor I emailed would respond; in the water cost that was increased 5% a year, which amounts to over 27% since this is compound interest (interest on interest), plus the sewer fee which is based on water usage, so that even if you use water for plants, car and house washing, swimming pool, you are still assumed to send most of it into the sewer in the summer and all in the winter; the hospitality tax, which is used for everything and anything the city wants, a giant slush fund that the attorney general, governor, lt. governor, solicitor, no one seems willing to address on a local or statewide basis; and….and….and….(So chime in here and tell what else I have missed.)
The city has not balanced the budget on time in at least 3 years, and it was about 2 years behind at one point, according to news reports. It is still not balanced and closed out, and the scuttlebutt is that it will always stay at least 6 months behind. Why? Because if it is finally balanced, it would show the real situation, and the city officials would have to admit the ugly truth. What the budget does not have to represent is potential liabilities such as potential lawsuits that are highly likely to happen, the real condition of water and sewer lines and what the cost of repair/replacement is, other future infrastructure problems that have no official study linked so that officials can say they have no knowledge of any needs, though they do know from “unofficial” investigation, and employee retirement and insurance liability true liabilities as they can say that those are not yet fully determined. (So what else am I missing besides rising expenses that do not have to publicly stated until they happen?)
The other side of this is that the city does not have to say that it is highly probable (gentle word for absolutely will) that city revenues will fall in the next few months and fiscal year. Across the country all 3 revenue sources are falling: property tax, sales tax, income tax. What is also falling is the amount of aid supplied by state and federal government, which was not mentioned in this NY Times article:
http://www.nytimes.com/2008/10/07/us/07citybudgets.html?_r=1&th&emc=th&oref=slogin.
We know the country has economic problems, but the state has them also. SC again is in the top 20 of something: http://images.businessweek.com/ss/08/10/1003_budget_shortfall/1.htm.
So any expected money from the state, and any from the fed that can be used by the state for itself or cities, is probably not going to make it in any usual amount to the cities.
I have blown the whistle on the city’s impending economic plight for at least 8 years, with no one paying attention. Instead, the slight-of-hand that our mayor and council use to tout the great gains and renaissance of Columbia smoke screens the real economic failures. It has worked for a while, but the problems now cannot be hidden or denied, only acknowledgement slightly delayed due to “we have to balance the books and close the year out first to see where we are”. One editorial writer for The State fairly well admitted, by not admitting, that the city is bankrupt with an editorial titled
“City’s bad bookkeeping hasn’t caused it to go broke-yet” (http://www.thestate.com/bolton/story/505493.html).
The editorial was written a few days after my article: The City of Columbia is Functionally Bankrupt (8-25-08), http://groups.google.com/group/theazarnewsletter/browse_thread/thread/fc2170991b452b88.
It was a softball editorial designed to give the council and manager an easy out and soft landing, in essence, denying the numbers put out by Adam Beam of The State, who gave a fairly conservative article on the city and conservative numbers (http://www.thestate.com/local/story/499398.html),
not including anything that had no quantitative number to it, such as estimates for the crumbling sewer and water infrastructure. I have to say that it was interesting to see one hand try to minimize the other at The State. And to read a mild comment discrediting me and my article without referring to me (my article came out 8-25 and the editorial 8-28; coincidence?). A more up to date article recently surfaced in the Free Times on October 1:
http://www.freetimes.com/index.php?cat=121304064644348&z_Issue_ID=11010110083100444&ShowArchiveArticle_ID=11010110080949539&Year=2008.
It implies that if the information the reporter obtained is true, the city effectively has no reserves and would be in the position of living paycheck to paycheck.
But, if as the whispers go, if they do bring it up to date and balanced, then they will have to admit to the economic failure of our city.
Joseph
BTW, if you do not receive this in HTML, the links for some of the articles may not appear. I hope the many embedded links do not get jumbled in this transmission. They probably will not link on the blog so you will have to cut and paste.
The city has not balanced the budget on time in at least 3 years, and it was about 2 years behind at one point, according to news reports. It is still not balanced and closed out, and the scuttlebutt is that it will always stay at least 6 months behind. Why? Because if it is finally balanced, it would show the real situation, and the city officials would have to admit the ugly truth. What the budget does not have to represent is potential liabilities such as potential lawsuits that are highly likely to happen, the real condition of water and sewer lines and what the cost of repair/replacement is, other future infrastructure problems that have no official study linked so that officials can say they have no knowledge of any needs, though they do know from “unofficial” investigation, and employee retirement and insurance liability true liabilities as they can say that those are not yet fully determined. (So what else am I missing besides rising expenses that do not have to publicly stated until they happen?)
The other side of this is that the city does not have to say that it is highly probable (gentle word for absolutely will) that city revenues will fall in the next few months and fiscal year. Across the country all 3 revenue sources are falling: property tax, sales tax, income tax. What is also falling is the amount of aid supplied by state and federal government, which was not mentioned in this NY Times article:
http://www.nytimes.com/2008/10/07/us/07citybudgets.html?_r=1&th&emc=th&oref=slogin.
We know the country has economic problems, but the state has them also. SC again is in the top 20 of something: http://images.businessweek.com/ss/08/10/1003_budget_shortfall/1.htm.
So any expected money from the state, and any from the fed that can be used by the state for itself or cities, is probably not going to make it in any usual amount to the cities.
I have blown the whistle on the city’s impending economic plight for at least 8 years, with no one paying attention. Instead, the slight-of-hand that our mayor and council use to tout the great gains and renaissance of Columbia smoke screens the real economic failures. It has worked for a while, but the problems now cannot be hidden or denied, only acknowledgement slightly delayed due to “we have to balance the books and close the year out first to see where we are”. One editorial writer for The State fairly well admitted, by not admitting, that the city is bankrupt with an editorial titled
“City’s bad bookkeeping hasn’t caused it to go broke-yet” (http://www.thestate.com/bolton/story/505493.html).
The editorial was written a few days after my article: The City of Columbia is Functionally Bankrupt (8-25-08), http://groups.google.com/group/theazarnewsletter/browse_thread/thread/fc2170991b452b88.
It was a softball editorial designed to give the council and manager an easy out and soft landing, in essence, denying the numbers put out by Adam Beam of The State, who gave a fairly conservative article on the city and conservative numbers (http://www.thestate.com/local/story/499398.html),
not including anything that had no quantitative number to it, such as estimates for the crumbling sewer and water infrastructure. I have to say that it was interesting to see one hand try to minimize the other at The State. And to read a mild comment discrediting me and my article without referring to me (my article came out 8-25 and the editorial 8-28; coincidence?). A more up to date article recently surfaced in the Free Times on October 1:
http://www.freetimes.com/index.php?cat=121304064644348&z_Issue_ID=11010110083100444&ShowArchiveArticle_ID=11010110080949539&Year=2008.
It implies that if the information the reporter obtained is true, the city effectively has no reserves and would be in the position of living paycheck to paycheck.
But, if as the whispers go, if they do bring it up to date and balanced, then they will have to admit to the economic failure of our city.
Joseph
BTW, if you do not receive this in HTML, the links for some of the articles may not appear. I hope the many embedded links do not get jumbled in this transmission. They probably will not link on the blog so you will have to cut and paste.
Monday, October 6, 2008
VUDU & The Economy (10-6-08)
No way I will ever catch up with all the mail you send! In the newsletter box alone there are 1472 emails, and thousands more in the INBOX and elsewhere. If you ever send me an email and need a timely answer, I suggest you resend 24 hours later, or call if I do not respond. As you can imagine, some get missed for a while. Some also go to spam, such as one I sent from me to me!! Go figure.
BTW, fitting subject title, don’t you think?
---------------------------------------------------------------------------------
VUDU
Got mail on this, and rather than list all, let me answer a question or two. VUDU offers around 20,000 or so movies and TV programs, as I heard last. I am sure it is up now. You will not usually find them all on at once because surfing 20,000 video offerings would take longer than watching a couple of movies. So they have limited to a smaller number and change up weekly so you can ultimately view all the offerings.
Where a cable or satellite company will have a dozen or two offerings, VUDU has much more. They both do pay per view, but VUDU allows you to buy and keep on hard drive, where cable/sat only allow you to rent.
Can you load a VUDU movie onto your computer or flash drive? No, not in digital, though you could via analog connection.
Will VUDU work in the car? Yes, with a 12vdc to 120vac inverter.
Is VUDU portable? More so than a DVD player as it is smaller.
Can I use it in a rental house? I assume you mean in a house you rent to others such as a vacation house. Yes, you can load movies on to it and let your tenants watch.
Can they buy movies on my account? No, if you lock it from downloading via password.
Are all VUDU movies HD? No, as all movies are not HD, but VUDU still has the largest collection of HD movies to date, or so I have read. Some download companies have not yet mastered and implemented HD movie download.
It has only 1 terabyte? Yes, which is plenty unless you intend to load a lot of HD content. Then you can add another VUDU for 2 TB of storage. Of course, why buy? Just how many times do you watch the same movie (unless you are 5 and its Disney)? Once? Twice? So renting is much more economical. Then those few classics can be purchased and stored.
How much is it? They make 2. The first is a 250 GB unit that sells for $299 and is now only available at the big boxes and online. The second is1TB at $999. This is the better one with more capability and better suited for good HDTV sets and home theater. I do have one of the lesser sets in stock if anyone wants one, but custom installers only get the better box, not the big stores.
Is the remote a universal one? No, but it is the neatest, easiest to use I have seen. Whoever designed this was a genius. It is RF, meaning you can operate it from the other room with no accessories. A thumbwheel and 4 buttons do it all!
Now what have I missed? Ask me some more.
------------------------------------------------------------------------------------
The Economy
It is obvious the anger. Not only are congress people pointing fingers and blaming the other side, but citizens are blaming each other! If you are a Democrat, you are blaming Republicans whether politician or neighbor, and the same goes for Republicans. First, let me say this: I was not and have not been responsible for this economic mess! Like I ever had that much money, sheeeesh! Nor are most of my neighbors, regardless of party. so quit trying to label people around you and blame them. Out it where it belongs, on congress. Any of them could have stopped this, but they never wanted to. Democrat, Republican, you name it. They all let it happen. Same for presidents, so quit acting high and mighty and telling me which party is at fault. One thing that seems to be agreed upon is that it started back in the Carter days (and yes, I like Jimmy).
…………
Joe,
I was in the mortgage industry in the mid 90's to late 90's. When people realize it started with Carter with the Community Reinvestment Act and really steamrolled with the Clinton crowd you would think it would shed some light. I dug this up the other day and have sent it to a few friends and thought you might enjoy it also.
--------------------------------------------------------------------------------
September 30, 1999
Fannie Mae Eases Credit To Aid Mortgage Lending
By STEVEN A. HOLMES
In a move that could help increase home ownership rates among minorities and low-income consumers, the Fannie Mae Corporation is easing the credit requirements on loans that it will purchase from banks and other lenders.
The action, which will begin as a pilot program involving 24 banks in 15 markets -- including the New York metropolitan region -- will encourage those banks to extend home mortgages to individuals whose credit is generally not good enough to qualify for conventional loans. Fannie Mae officials say they hope to make it a nationwide program by next spring.
Fannie Mae, the nation's biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from stock holders to maintain its phenomenal growth in profits.
In addition, banks, thrift institutions and mortgage companies have been pressing Fannie Mae to help them make more loans to so-called subprime borrowers. These borrowers whose incomes, credit ratings and savings are not good enough to qualify for conventional loans, can only get loans from finance companies that charge much higher interest rates -- anywhere from three to four percentage points higher than conventional loans.
''Fannie Mae has expanded home ownership for millions of families in the 1990's by reducing down payment requirements,'' said Franklin D. Raines, Fannie Mae's chairman and chief executive officer. ''Yet there remain too many borrowers whose credit is just a notch below what our underwriting has required who have been relegated to paying significantly higher mortgage rates in the so-called subprime market.''
Demographic information on these borrowers is sketchy. But at least one study indicates that 18 percent of the loans in the subprime market went to black borrowers, compared to 5 per cent of loans in the conventional loan market.
In moving, even tentatively, into this new area of lending, Fannie Mae is taking on significantly more risk, which may not pose any difficulties during flush economic times. But the government-subsidized corporation may run into trouble in an economic downturn, prompting a government rescue similar to that of the savings and loan industry in the 1980's.
''From the perspective of many people, including me, this is another thrift industry growing up around us,'' said Peter Wallison a resident fellow at the American Enterprise Institute. ''If they fail, the government will have to step up and bail them out the way it stepped up and bailed out the thrift industry.''
Under Fannie Mae's pilot program, consumers who qualify can secure a mortgage with an interest rate one percentage point above that of a conventional, 30-year fixed rate mortgage of less than $240,000 -- a rate that currently averages about 7.76 per cent. If the borrower makes his or her monthly payments on time for two years, the one percentage point premium is dropped.
Fannie Mae, the nation's biggest underwriter of home mortgages, does not lend money directly to consumers. Instead, it purchases loans that banks make on what is called the secondary market. By expanding the type of loans that it will buy, Fannie Mae is hoping to spur banks to make more loans to people with less-than-stellar credit ratings.
Fannie Mae officials stress that the new mortgages will be extended to all potential borrowers who can qualify for a mortgage. But they add that the move is intended in part to increase the number of minority and low income home owners who tend to have worse credit ratings than non-Hispanic whites.
Home ownership has, in fact, exploded among minorities during the economic boom of the 1990's. The number of mortgages extended to Hispanic applicants jumped by 87.2 per cent from 1993 to 1998, according to Harvard University's Joint Center for Housing Studies. During that same period the number of African Americans who got mortgages to buy a home increased by 71.9 per cent and the number of Asian Americans by 46.3 per cent.
In contrast, the number of non-Hispanic whites who received loans for homes increased by 31.2 per cent.
Despite these gains, home ownership rates for minorities continue to lag behind non-Hispanic whites, in part because blacks and Hispanics in particular tend to have on average worse credit ratings.
In July, the Department of Housing and Urban Development proposed that by the year 2001, 50 percent of Fannie Mae's and Freddie Mac's portfolio be made up of loans to low and moderate-income borrowers. Last year, 44 percent of the loans Fannie Mae purchased were from these groups.
The change in policy also comes at the same time that HUD is investigating allegations of racial discrimination in the automated underwriting systems used by Fannie Mae and Freddie Mac to determine the credit-worthiness of credit applicants.
To hear today's Democrats, you'd think all this started in the last couple years. But the crisis began much earlier. The Carter-era Community Reinvestment Act forced banks to lend to un-creditworthy borrowers, mostly in minority areas.
Age-old standards of banking prudence got thrown out the window. In their place came harsh new regulations requiring banks not only to lend to un-creditworthy borrowers, but to do so on the basis of race.
These well-intended rules were supercharged in the early 1990s by President Clinton. Despite warnings from GOP members of Congress in 1992, Clinton pushed extensive changes to the rules requiring lenders to make questionable loans.
Failure to comply meant your bank might not be allowed to expand lending, add new branches or merge with other companies. Banks were given a so-called "CRA rating" that graded how diverse their lending portfolio was.
In the name of diversity, banks began making huge numbers of loans that they previously would not have. They opened branches in poor areas to lift their CRA ratings.
Meanwhile, Congress gave Fannie and Freddie the go-ahead to finance it all by buying loans from banks, then repackaging and securitizing them for resale on the open market.
With those changes, the subprime market took off. From a mere $35 billion in loans in 1994, it soared to $1 trillion by 2008.
…………
Joe:
It is a discredit to yourself that you would tout a Fox News program as being straightforward and in the know. Just today, there have been two articles detailing how Phil Gram and the Republican Party set up this climate of de-regulation that lead to this melt down. But, both parties are in the pocket of the financial institutions. The bankruptcy reform bill would never have passed without Democratic votes. However, at the present time, the Republican party still controls legislation because it can block anything in the Senate. So, even if the Democrats wanted to change the regulatory environment, they can't without the Republican votes.
And, don't forget, the Republicans are saying the CRA and loans to minorities caused this meltdown. That is an outright lie and Fox News is no source to give any credit to.
Peace,
jsa-Then I am busted! I have a friend that is extremely well respected in financial circles, the top echelon of the Buffets, Templetons, etc. He is quite informed and knowledgeable on matters financial as his research is used by these titans of finance. He also has much disdain for both parties. When he recommended that I watch this show, I took his advice as I had called him to ask how this all came about. He told me this would answer it. I watched, called him back, and discussed it, mentioning that it seemed that there was some bias. He said what? Maybe, as all news media have bias (remember, he is a member of the journalism corps as well), but the facts are there and quite valid, regardless of Fox or CNN ,or…or…I have known this person since just past birth and have trusted his word as he mine, as we both know the other knows his business, and will acknowledge what he does not know. In other words, we trust each other and don’t shoot any BS at each other. We are resources for each other. And he is held in such high regard by the international financial kings that they all want to be interviewed by him, which would not be the case if he were a hack.
Having said all that, he and the program are right. Add in whatever is missing, remove any bias you think you see, but the facts, the taped comments of the guilty, all of it stands and is irrefutable, FOX or no FOX, as my friend says, with disdain in his voice for both parties.
As for the low income demographic loans, how can it not be the cause? Let’s see, you get a house for NO downpayment, you get a LOWER interest rate than everyone else for a while, then it is adjusted up a few years later. In the meantime, an economic decline happens, your house value slides, your salary cut, hours cut, job lost so you cannot pay the monthlies. What do you do? Walk away. No equity in it, no loss of down payment, it was cheap rent while it lasted. CYA (in both ways). So who gets it who has to keep paying on it? And what happens? These were not a lot of the problem, but enough, along with everything else, to break the camels back.
I cannot think of any middle class working average Joe or Mary ever agreeing that this is the way loans should be made. After all, they both have to put it down, so why should they have to be on the hook for those who can’t? it just does not make sense to the average American, and now we see why.
Socialism mixed with capitalism gets very confusing and discombobulated, causing losses in both. If you can ever combobulate them, let me know.
…………
http://www.huffingtonpost.com/2008/10/05/mccains-keating-5-scandal_n_132103.html
Joe,
While I agree that neither party's hands are clean when it comes to this country's economic mess, for many years McCain has been at the center of movements to deregulate banks and other aspects of the financial market.
Please check out this link to the Huffington Post as well as the 2 attached articles.
jsa-Yes, and when you start crying about McCain digging up old garbage not relevant, remember what you are doing here: the same sin, so guilty you are. Mac has publicly stated the Keating decision was a mistake on his part, and he wished he could correct it. But he can’t, other than to admit it was wrong, which is more than Dodd or Schumer or Frank are saying now. Yes it was a mistake. Give the man credit for admitting his mistakes publicly, apologizing for them, asking for forgiveness, learning form them, and acting to correct them. Who in politics does this? (Clinton, only some of it, after he is caught lying.)
Is deregulation bad? Well? We deregulated telephone, airlines and much else. They improved due to competition and got cheaper. Banks have become more competitive, at least until recently, though the consolidation will raise consumer costs due to a lack of competition. The real problems are numerous, the main being lack of oversight and punishment, and more importantly, the lack of control by congress that allowed these financial institutions to run wild. The business sector only did what it was allowed, and forced, to do.
…………
Pretty good if you have the time.
http://www.youtube.com/watch?v=1RZVw3no2A4
…………
Joe,
I have attached VISION that I wrote last week and presented before the South Carolina Federation of Republican Women on 10/4/08. It was received very well. The last part of VISION asks for participation in a march on D.C. in the Spring of 09 to protest the greed, sale of votes by members of the House and Senate, embezzlement, fraud, lies, extortion and continued power grabbing by members of the House and Senate. I have e-mailed the major news outlets in Columbia about this.
Would you be willing to help advertise the march on D.C. in the Spring of 09 once the organization called "Pitch Forks and Torches" (PFT) has its 501c3 status and is better organized? Let me know and let me know your opinion of VISION.
Carolyn B. Watkins, M.A.,R.D.,R.N.,C.D.E.
CEO
Rock Castle Nursing and Nutrition Services LLC
700 Ridge Trail Drive
Columbia, S.C. 29229
Phone: 803-699-7369
Fax: 803-788-7335
email: rockcastleinc@aol.com
website: www.rockcastlellc.com
jsa-Here it is.
VISION
Our forefathers were George Washington, Thomas Jefferson, John Rutledge, Charles Cotesworth
Pinckney, Pierce Butler and others. The last 4 were from South Carolina and signed the Constitution of the
United States.. What does the Constitution say about the VISION that these men and other men who
signed the Constitution of the United States had? Read the Preamble to the Constitution of the United
States to answer this question.
We the People of the United States, in Order to form a more
perfect union, establish Justice, insure domestic Tranquility,
provide for the common defence, promote the general Wel-
fare, and secure the Blessings of Liberty to ourselves and our
Posterity, do ordain and establish this Constitution for the
United States of America.
What does the preamble to the Constitution of the United States mean? What did it mean to our
forefathers and the signers of the Constitution of the United States? What does "We the People" mean?
That means you and I. This means that the Constitution of the United States was written for the
PEOPLE of the United States. What does "promote the general Welfare" mean? Does
anyone think that "promote the general welfare" meant allowing members of the House
and Senate to look the other way while 2 companies that were backed by the Treasury of the United States,
who by the way has no money but what the tax payer gives it, while the CEO of Freddie Mac who was
Franklin Raines and the CEO of Fannie Mae who was James Johnson stold money from Freddie Mac and
Fannie Mae? How many of you have seen the Utube video from a hearing by a sub committee called
Government Sponsored Enterprises Sub-Committee with Representative Richard Baker (R La )chair in the
House of Representative in late 2004? This sub-committee had received a report from the Federal Housing
Enterprise Oversight People critical of how the Government Sponsored Enterprises (GSE), which were
Fannie Mae and Freddie Mac, had been managed and was severely critical of the accounting practices by
Fannie and Freddie. The Democrats on this committee NOT only ignored the warning in the report, they
assulted Armando Falcon, who was Director of the Federal Housing Enterprise Oversight, for the content of
the report. The following are comments made by the Democratic members of this committee
about the report and about Armando Falcon:
Barney Frank (Democrat from Massachuetts) made a comment that there is nothing in the report on
Government Sponsored Enterprises (GSE) that raises safety and soundness problems
Maxine Waters (Democrat from California) - under the OUTSTANDING leadership of Franklin Raines (CEO
of Freddie Mac) everything under the act in 1992 has worked just fine. In fact the GSEs have exceeded
their housing goals.
Gregory Meeks (Democrat from New York) I am pissed off because the report on the GSEs gives
people an excuse to do away with the GSEs….the GSEs have done a TREMENDOUS job!
Lacy Clay (Democrat-Missouri) stated This is a "political lynching" of Franklin Raines. who by the way
received a 1.1 million dollar bonus on an annual salary of $526,000.00 as CEO of Freddie Mac in 2003.
The Democratic members in this hearing REFUSED to give the warning in the report on the GSEs
any credibility and instead criticized the Director of the agency that issued the report. NOW, 4 years later,
the tax payers of the United States are being REQUIRED to "BAIL OUT" the U.S. Treasury, the banks who
bought these bad loans and Wall Street people who have benefited from the loans given by Fannie Mae and
Freddie Mac. This is NOT what our forefathers meant when they wrote in the preamble of the United States
Constitution "to PROMOTE the general welfare". There is a difference between insuring and promoting
and by taking the risk out of lending and borrowing and FORCING the tax payer to "BAIL OUT" the risk
takers the tax payers are being FORCED to INSURE and NOT PROMOTE the "welfare" of the risk takers. How
can this be constitutional? I DO NOT NEED A SUPREME COURT RULING ON THIS! I know that this is NOT what
our forefathers meant by "promote the general welfare". It is time that we let members of the House and
Senate know this too!
In addition, ALL of the money given to House and Senate members by Fannie Mae, Freddie Mac, AIG,
Lehman Brothers, Bear Stern, Wachovia, City Bank, etc needs to be given toward the "BAIL OUT". Why
should members of the House and Senate get to keep money given to them that influenced their votes
to allow the GSEs to continue operating using "improper accounting practices" and improper
management practices. There were a whole lot of people that benefited from all this get rich at
the expense of the tax payers of the United States and it was NOT the tax payers. Why should we allow
people who work for us to keep the money given them to buy their votes to ignore the fact that Fannie
and Freddie were going bankrupt and not REQUIRE them to give ALL that money toward the "BAIL OUT"?
Would you participate in a march on Washington D.C. in the Spring or Summer of 2009 to protest the greed,
arrogance, deceit, lies, embezzlement and incompetence of our elected and unelected leaders that led to
the "BAIL OUT?" Pray about this and let me know.
Carolyn B. Watkins
Citizen, tax payer and voter of the United States of America
…………
Holy Guacamole, Joseph! "my favorite president, Jimmy Carter"?! I hope that remark was facetious. This joker was a disaster from the start. And if it's possible, he's been a worse ex-president than he was a president, some of his actions, IMO, crossing the line into treason. When I was plying my trade during his administration some of the cabin attendants remarked that my PA announcements sounded just like him, and I made a concerted effort to correct that.
But anyway, here's a 1999 New York Times article that pretty much establishes the cause of the current meltdown (courtesy wrisley.com), although the Times being the Times, they looked upon it as a "good thing" at the time. You won't find much about this in today's news media, especially the Times, and I would be surprised if this story is not removed from their web site soon, but it's still there as of now:
Here Dr. Thomas Sowell confirms that the Democrat Party, the principal culprit in all this, is rather successfully blaming everybody but themselves for this situation. And it looks very much like the American people are buying this, and will put the inmates who caused this disaster fully in charge of the asylum next year.
It looks like we are going to be living out the old Chinese curse, "May you live in interesting times."
jsa-Guilty! Guilty! Guilty! I like Jimmy for his heart and ethics. Maybe I was a young idealist when he was prez and don’t know all about him. But as am older idealist, I still like him.
I am now off the Christmas party list?
BTW, fitting subject title, don’t you think?
---------------------------------------------------------------------------------
VUDU
Got mail on this, and rather than list all, let me answer a question or two. VUDU offers around 20,000 or so movies and TV programs, as I heard last. I am sure it is up now. You will not usually find them all on at once because surfing 20,000 video offerings would take longer than watching a couple of movies. So they have limited to a smaller number and change up weekly so you can ultimately view all the offerings.
Where a cable or satellite company will have a dozen or two offerings, VUDU has much more. They both do pay per view, but VUDU allows you to buy and keep on hard drive, where cable/sat only allow you to rent.
Can you load a VUDU movie onto your computer or flash drive? No, not in digital, though you could via analog connection.
Will VUDU work in the car? Yes, with a 12vdc to 120vac inverter.
Is VUDU portable? More so than a DVD player as it is smaller.
Can I use it in a rental house? I assume you mean in a house you rent to others such as a vacation house. Yes, you can load movies on to it and let your tenants watch.
Can they buy movies on my account? No, if you lock it from downloading via password.
Are all VUDU movies HD? No, as all movies are not HD, but VUDU still has the largest collection of HD movies to date, or so I have read. Some download companies have not yet mastered and implemented HD movie download.
It has only 1 terabyte? Yes, which is plenty unless you intend to load a lot of HD content. Then you can add another VUDU for 2 TB of storage. Of course, why buy? Just how many times do you watch the same movie (unless you are 5 and its Disney)? Once? Twice? So renting is much more economical. Then those few classics can be purchased and stored.
How much is it? They make 2. The first is a 250 GB unit that sells for $299 and is now only available at the big boxes and online. The second is1TB at $999. This is the better one with more capability and better suited for good HDTV sets and home theater. I do have one of the lesser sets in stock if anyone wants one, but custom installers only get the better box, not the big stores.
Is the remote a universal one? No, but it is the neatest, easiest to use I have seen. Whoever designed this was a genius. It is RF, meaning you can operate it from the other room with no accessories. A thumbwheel and 4 buttons do it all!
Now what have I missed? Ask me some more.
------------------------------------------------------------------------------------
The Economy
It is obvious the anger. Not only are congress people pointing fingers and blaming the other side, but citizens are blaming each other! If you are a Democrat, you are blaming Republicans whether politician or neighbor, and the same goes for Republicans. First, let me say this: I was not and have not been responsible for this economic mess! Like I ever had that much money, sheeeesh! Nor are most of my neighbors, regardless of party. so quit trying to label people around you and blame them. Out it where it belongs, on congress. Any of them could have stopped this, but they never wanted to. Democrat, Republican, you name it. They all let it happen. Same for presidents, so quit acting high and mighty and telling me which party is at fault. One thing that seems to be agreed upon is that it started back in the Carter days (and yes, I like Jimmy).
…………
Joe,
I was in the mortgage industry in the mid 90's to late 90's. When people realize it started with Carter with the Community Reinvestment Act and really steamrolled with the Clinton crowd you would think it would shed some light. I dug this up the other day and have sent it to a few friends and thought you might enjoy it also.
--------------------------------------------------------------------------------
September 30, 1999
Fannie Mae Eases Credit To Aid Mortgage Lending
By STEVEN A. HOLMES
In a move that could help increase home ownership rates among minorities and low-income consumers, the Fannie Mae Corporation is easing the credit requirements on loans that it will purchase from banks and other lenders.
The action, which will begin as a pilot program involving 24 banks in 15 markets -- including the New York metropolitan region -- will encourage those banks to extend home mortgages to individuals whose credit is generally not good enough to qualify for conventional loans. Fannie Mae officials say they hope to make it a nationwide program by next spring.
Fannie Mae, the nation's biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from stock holders to maintain its phenomenal growth in profits.
In addition, banks, thrift institutions and mortgage companies have been pressing Fannie Mae to help them make more loans to so-called subprime borrowers. These borrowers whose incomes, credit ratings and savings are not good enough to qualify for conventional loans, can only get loans from finance companies that charge much higher interest rates -- anywhere from three to four percentage points higher than conventional loans.
''Fannie Mae has expanded home ownership for millions of families in the 1990's by reducing down payment requirements,'' said Franklin D. Raines, Fannie Mae's chairman and chief executive officer. ''Yet there remain too many borrowers whose credit is just a notch below what our underwriting has required who have been relegated to paying significantly higher mortgage rates in the so-called subprime market.''
Demographic information on these borrowers is sketchy. But at least one study indicates that 18 percent of the loans in the subprime market went to black borrowers, compared to 5 per cent of loans in the conventional loan market.
In moving, even tentatively, into this new area of lending, Fannie Mae is taking on significantly more risk, which may not pose any difficulties during flush economic times. But the government-subsidized corporation may run into trouble in an economic downturn, prompting a government rescue similar to that of the savings and loan industry in the 1980's.
''From the perspective of many people, including me, this is another thrift industry growing up around us,'' said Peter Wallison a resident fellow at the American Enterprise Institute. ''If they fail, the government will have to step up and bail them out the way it stepped up and bailed out the thrift industry.''
Under Fannie Mae's pilot program, consumers who qualify can secure a mortgage with an interest rate one percentage point above that of a conventional, 30-year fixed rate mortgage of less than $240,000 -- a rate that currently averages about 7.76 per cent. If the borrower makes his or her monthly payments on time for two years, the one percentage point premium is dropped.
Fannie Mae, the nation's biggest underwriter of home mortgages, does not lend money directly to consumers. Instead, it purchases loans that banks make on what is called the secondary market. By expanding the type of loans that it will buy, Fannie Mae is hoping to spur banks to make more loans to people with less-than-stellar credit ratings.
Fannie Mae officials stress that the new mortgages will be extended to all potential borrowers who can qualify for a mortgage. But they add that the move is intended in part to increase the number of minority and low income home owners who tend to have worse credit ratings than non-Hispanic whites.
Home ownership has, in fact, exploded among minorities during the economic boom of the 1990's. The number of mortgages extended to Hispanic applicants jumped by 87.2 per cent from 1993 to 1998, according to Harvard University's Joint Center for Housing Studies. During that same period the number of African Americans who got mortgages to buy a home increased by 71.9 per cent and the number of Asian Americans by 46.3 per cent.
In contrast, the number of non-Hispanic whites who received loans for homes increased by 31.2 per cent.
Despite these gains, home ownership rates for minorities continue to lag behind non-Hispanic whites, in part because blacks and Hispanics in particular tend to have on average worse credit ratings.
In July, the Department of Housing and Urban Development proposed that by the year 2001, 50 percent of Fannie Mae's and Freddie Mac's portfolio be made up of loans to low and moderate-income borrowers. Last year, 44 percent of the loans Fannie Mae purchased were from these groups.
The change in policy also comes at the same time that HUD is investigating allegations of racial discrimination in the automated underwriting systems used by Fannie Mae and Freddie Mac to determine the credit-worthiness of credit applicants.
To hear today's Democrats, you'd think all this started in the last couple years. But the crisis began much earlier. The Carter-era Community Reinvestment Act forced banks to lend to un-creditworthy borrowers, mostly in minority areas.
Age-old standards of banking prudence got thrown out the window. In their place came harsh new regulations requiring banks not only to lend to un-creditworthy borrowers, but to do so on the basis of race.
These well-intended rules were supercharged in the early 1990s by President Clinton. Despite warnings from GOP members of Congress in 1992, Clinton pushed extensive changes to the rules requiring lenders to make questionable loans.
Failure to comply meant your bank might not be allowed to expand lending, add new branches or merge with other companies. Banks were given a so-called "CRA rating" that graded how diverse their lending portfolio was.
In the name of diversity, banks began making huge numbers of loans that they previously would not have. They opened branches in poor areas to lift their CRA ratings.
Meanwhile, Congress gave Fannie and Freddie the go-ahead to finance it all by buying loans from banks, then repackaging and securitizing them for resale on the open market.
With those changes, the subprime market took off. From a mere $35 billion in loans in 1994, it soared to $1 trillion by 2008.
…………
Joe:
It is a discredit to yourself that you would tout a Fox News program as being straightforward and in the know. Just today, there have been two articles detailing how Phil Gram and the Republican Party set up this climate of de-regulation that lead to this melt down. But, both parties are in the pocket of the financial institutions. The bankruptcy reform bill would never have passed without Democratic votes. However, at the present time, the Republican party still controls legislation because it can block anything in the Senate. So, even if the Democrats wanted to change the regulatory environment, they can't without the Republican votes.
And, don't forget, the Republicans are saying the CRA and loans to minorities caused this meltdown. That is an outright lie and Fox News is no source to give any credit to.
Peace,
jsa-Then I am busted! I have a friend that is extremely well respected in financial circles, the top echelon of the Buffets, Templetons, etc. He is quite informed and knowledgeable on matters financial as his research is used by these titans of finance. He also has much disdain for both parties. When he recommended that I watch this show, I took his advice as I had called him to ask how this all came about. He told me this would answer it. I watched, called him back, and discussed it, mentioning that it seemed that there was some bias. He said what? Maybe, as all news media have bias (remember, he is a member of the journalism corps as well), but the facts are there and quite valid, regardless of Fox or CNN ,or…or…I have known this person since just past birth and have trusted his word as he mine, as we both know the other knows his business, and will acknowledge what he does not know. In other words, we trust each other and don’t shoot any BS at each other. We are resources for each other. And he is held in such high regard by the international financial kings that they all want to be interviewed by him, which would not be the case if he were a hack.
Having said all that, he and the program are right. Add in whatever is missing, remove any bias you think you see, but the facts, the taped comments of the guilty, all of it stands and is irrefutable, FOX or no FOX, as my friend says, with disdain in his voice for both parties.
As for the low income demographic loans, how can it not be the cause? Let’s see, you get a house for NO downpayment, you get a LOWER interest rate than everyone else for a while, then it is adjusted up a few years later. In the meantime, an economic decline happens, your house value slides, your salary cut, hours cut, job lost so you cannot pay the monthlies. What do you do? Walk away. No equity in it, no loss of down payment, it was cheap rent while it lasted. CYA (in both ways). So who gets it who has to keep paying on it? And what happens? These were not a lot of the problem, but enough, along with everything else, to break the camels back.
I cannot think of any middle class working average Joe or Mary ever agreeing that this is the way loans should be made. After all, they both have to put it down, so why should they have to be on the hook for those who can’t? it just does not make sense to the average American, and now we see why.
Socialism mixed with capitalism gets very confusing and discombobulated, causing losses in both. If you can ever combobulate them, let me know.
…………
http://www.huffingtonpost.com/2008/10/05/mccains-keating-5-scandal_n_132103.html
Joe,
While I agree that neither party's hands are clean when it comes to this country's economic mess, for many years McCain has been at the center of movements to deregulate banks and other aspects of the financial market.
Please check out this link to the Huffington Post as well as the 2 attached articles.
jsa-Yes, and when you start crying about McCain digging up old garbage not relevant, remember what you are doing here: the same sin, so guilty you are. Mac has publicly stated the Keating decision was a mistake on his part, and he wished he could correct it. But he can’t, other than to admit it was wrong, which is more than Dodd or Schumer or Frank are saying now. Yes it was a mistake. Give the man credit for admitting his mistakes publicly, apologizing for them, asking for forgiveness, learning form them, and acting to correct them. Who in politics does this? (Clinton, only some of it, after he is caught lying.)
Is deregulation bad? Well? We deregulated telephone, airlines and much else. They improved due to competition and got cheaper. Banks have become more competitive, at least until recently, though the consolidation will raise consumer costs due to a lack of competition. The real problems are numerous, the main being lack of oversight and punishment, and more importantly, the lack of control by congress that allowed these financial institutions to run wild. The business sector only did what it was allowed, and forced, to do.
…………
Pretty good if you have the time.
http://www.youtube.com/watch?v=1RZVw3no2A4
…………
Joe,
I have attached VISION that I wrote last week and presented before the South Carolina Federation of Republican Women on 10/4/08. It was received very well. The last part of VISION asks for participation in a march on D.C. in the Spring of 09 to protest the greed, sale of votes by members of the House and Senate, embezzlement, fraud, lies, extortion and continued power grabbing by members of the House and Senate. I have e-mailed the major news outlets in Columbia about this.
Would you be willing to help advertise the march on D.C. in the Spring of 09 once the organization called "Pitch Forks and Torches" (PFT) has its 501c3 status and is better organized? Let me know and let me know your opinion of VISION.
Carolyn B. Watkins, M.A.,R.D.,R.N.,C.D.E.
CEO
Rock Castle Nursing and Nutrition Services LLC
700 Ridge Trail Drive
Columbia, S.C. 29229
Phone: 803-699-7369
Fax: 803-788-7335
email: rockcastleinc@aol.com
website: www.rockcastlellc.com
jsa-Here it is.
VISION
Our forefathers were George Washington, Thomas Jefferson, John Rutledge, Charles Cotesworth
Pinckney, Pierce Butler and others. The last 4 were from South Carolina and signed the Constitution of the
United States.. What does the Constitution say about the VISION that these men and other men who
signed the Constitution of the United States had? Read the Preamble to the Constitution of the United
States to answer this question.
We the People of the United States, in Order to form a more
perfect union, establish Justice, insure domestic Tranquility,
provide for the common defence, promote the general Wel-
fare, and secure the Blessings of Liberty to ourselves and our
Posterity, do ordain and establish this Constitution for the
United States of America.
What does the preamble to the Constitution of the United States mean? What did it mean to our
forefathers and the signers of the Constitution of the United States? What does "We the People" mean?
That means you and I. This means that the Constitution of the United States was written for the
PEOPLE of the United States. What does "promote the general Welfare" mean? Does
anyone think that "promote the general welfare" meant allowing members of the House
and Senate to look the other way while 2 companies that were backed by the Treasury of the United States,
who by the way has no money but what the tax payer gives it, while the CEO of Freddie Mac who was
Franklin Raines and the CEO of Fannie Mae who was James Johnson stold money from Freddie Mac and
Fannie Mae? How many of you have seen the Utube video from a hearing by a sub committee called
Government Sponsored Enterprises Sub-Committee with Representative Richard Baker (R La )chair in the
House of Representative in late 2004? This sub-committee had received a report from the Federal Housing
Enterprise Oversight People critical of how the Government Sponsored Enterprises (GSE), which were
Fannie Mae and Freddie Mac, had been managed and was severely critical of the accounting practices by
Fannie and Freddie. The Democrats on this committee NOT only ignored the warning in the report, they
assulted Armando Falcon, who was Director of the Federal Housing Enterprise Oversight, for the content of
the report. The following are comments made by the Democratic members of this committee
about the report and about Armando Falcon:
Barney Frank (Democrat from Massachuetts) made a comment that there is nothing in the report on
Government Sponsored Enterprises (GSE) that raises safety and soundness problems
Maxine Waters (Democrat from California) - under the OUTSTANDING leadership of Franklin Raines (CEO
of Freddie Mac) everything under the act in 1992 has worked just fine. In fact the GSEs have exceeded
their housing goals.
Gregory Meeks (Democrat from New York) I am pissed off because the report on the GSEs gives
people an excuse to do away with the GSEs….the GSEs have done a TREMENDOUS job!
Lacy Clay (Democrat-Missouri) stated This is a "political lynching" of Franklin Raines. who by the way
received a 1.1 million dollar bonus on an annual salary of $526,000.00 as CEO of Freddie Mac in 2003.
The Democratic members in this hearing REFUSED to give the warning in the report on the GSEs
any credibility and instead criticized the Director of the agency that issued the report. NOW, 4 years later,
the tax payers of the United States are being REQUIRED to "BAIL OUT" the U.S. Treasury, the banks who
bought these bad loans and Wall Street people who have benefited from the loans given by Fannie Mae and
Freddie Mac. This is NOT what our forefathers meant when they wrote in the preamble of the United States
Constitution "to PROMOTE the general welfare". There is a difference between insuring and promoting
and by taking the risk out of lending and borrowing and FORCING the tax payer to "BAIL OUT" the risk
takers the tax payers are being FORCED to INSURE and NOT PROMOTE the "welfare" of the risk takers. How
can this be constitutional? I DO NOT NEED A SUPREME COURT RULING ON THIS! I know that this is NOT what
our forefathers meant by "promote the general welfare". It is time that we let members of the House and
Senate know this too!
In addition, ALL of the money given to House and Senate members by Fannie Mae, Freddie Mac, AIG,
Lehman Brothers, Bear Stern, Wachovia, City Bank, etc needs to be given toward the "BAIL OUT". Why
should members of the House and Senate get to keep money given to them that influenced their votes
to allow the GSEs to continue operating using "improper accounting practices" and improper
management practices. There were a whole lot of people that benefited from all this get rich at
the expense of the tax payers of the United States and it was NOT the tax payers. Why should we allow
people who work for us to keep the money given them to buy their votes to ignore the fact that Fannie
and Freddie were going bankrupt and not REQUIRE them to give ALL that money toward the "BAIL OUT"?
Would you participate in a march on Washington D.C. in the Spring or Summer of 2009 to protest the greed,
arrogance, deceit, lies, embezzlement and incompetence of our elected and unelected leaders that led to
the "BAIL OUT?" Pray about this and let me know.
Carolyn B. Watkins
Citizen, tax payer and voter of the United States of America
…………
Holy Guacamole, Joseph! "my favorite president, Jimmy Carter"?! I hope that remark was facetious. This joker was a disaster from the start. And if it's possible, he's been a worse ex-president than he was a president, some of his actions, IMO, crossing the line into treason. When I was plying my trade during his administration some of the cabin attendants remarked that my PA announcements sounded just like him, and I made a concerted effort to correct that.
But anyway, here's a 1999 New York Times article that pretty much establishes the cause of the current meltdown (courtesy wrisley.com), although the Times being the Times, they looked upon it as a "good thing" at the time. You won't find much about this in today's news media, especially the Times, and I would be surprised if this story is not removed from their web site soon, but it's still there as of now:
Here Dr. Thomas Sowell confirms that the Democrat Party, the principal culprit in all this, is rather successfully blaming everybody but themselves for this situation. And it looks very much like the American people are buying this, and will put the inmates who caused this disaster fully in charge of the asylum next year.
It looks like we are going to be living out the old Chinese curse, "May you live in interesting times."
jsa-Guilty! Guilty! Guilty! I like Jimmy for his heart and ethics. Maybe I was a young idealist when he was prez and don’t know all about him. But as am older idealist, I still like him.
I am now off the Christmas party list?
Friday, October 3, 2008
Your Comments and Odds & Ends (10-3-08)
Friday is the last day to register to vote (actually Saturday is, but the voter registration office is closed that day). Here is the form: http://www.state.sc.us/scsec/vr/VR_Blank_Form.pdf. The voter registration people will usually take it if it is postmarked Saturday, and Richland has been kind enough to take them if they are pushed through the doors before Monday at the county office. But I suggest you do it Friday.
There is much more detailed info at the far bottom about voting and the constitutional amendments we are to vote on.
Joseph, I have six tickets to the USC v Ole Miss game in Oxford, MS for sale.
Let me add to your business....I need Tennessee - Georgia tix for Oct 11th!
Joe, hey wanted to know if you knew anybody with 4 lower seats to the SC ,Clemson game?
Hey Joe,
I'd love to buy 4 tickets to the LSU game if you hear of any. A parking spot would be great too. Thanks!
Great! I have passed the word on. Email me about any. Now that those are out of the way……..
Homeless
Joseph,
I attended the meeting yesterday, and got there about 1:30, so as to arrive early, since your notice said it began at 2 p.m. The meeting had already started. However,i did get to speak. I understand that there is a three minute rule, but I had not been speaking much longer than three minutes (if that long) when Mr. Austin interrupted me when I bought up an issue that had been raised by a someone who had spoken prior to me, The fact was that some of these people are homeless because they cannot take advantage of housing due to the fact that they have been in Jail.
When I further addressed this issue by saying that some of these people have benn in jail as a a result of the fact that the city often chooses to throw them in jail for loitering and pan handling, and that this causes the city not have enough police officer oftentimes to protect us from real crimes (shop lifting, breaking and entering, etc) and that it is the Tax payer who ends up paying because rather than dealing with the issue, the police e just throws these people in Jail/
It was at this point that I suggested (as i have done before) that there needs to be some criteria or system in place in which people who have been in jail for loitering and pan handling and people who have been in jail for shop lifting or violent crimes. The person who bought this up "works at a law firm on Bull street," had mentioned that she had offered to help some homeless people get job a at her law firm, by driving them around to get (birth certificate and other needed documents so that they could get into housing. After she had done this work on behalf of the homeless, they could to get housing because they "had a record."
It was at this point that Austin tried to get me of the stand." I did finish saying what I needed to say however. I told the city that rather if they spend less time complaining about this, and more time trying to work with community, existing programs and businesses, rather than giving lip service and going by "The not in my back yard" excuse, they may accomplish more.
I had even mentioned that city work initiatives that are advertised in the Big DM, also be advertised in free Publications inn free Publications such as "Free Times," City Newspaper, and other free publications that these people actually read. I also suggested that they put leaflets on the blank advertising spaces not used on the buses, and that they be distributed at the transit station, where these programs targeted towards programs could be seen by the homeless. I even suggested that rather than paying $10-$15/ hr to get people to pick up trash, that they try paying some of these homeless people to do it. Again Austin mentioned that my three minutes was exceeded.
I should also point out two council members here: Kirkman Finley, who conspicuously absent, and E.W. Cromartie who was text messaging during a rime when someone else was speaking. When I did get to speak,I thanked the council for allowing me to speak, and prefaced my comments by saying that I followed the rules and turned my cell phone off, and asked Council member's not to text message or answer calls while I was speaking. Adding that the Councilperson who was doing that as someone else was speaking, exhibited "the height of Rudeness.)
My impressions are as follows: (1) Austin is going to do what he is told to do. (2) Tony Lawton will at least attempt to try to communicate with the Public. According to Tony,the city will be getting input from the citizens of Columbia " within the next 14-21 days." (3) Coble will do what it takes to satisfy whoever has objections with words more than actions. (4) Rickenman and Gergel in my opinion came off as the only two who were genuinely interested in being at this meeting, for the purpose of making a positive difference.
Rick Baty
Sharing something about my City and my dad...Thanks Joe!
jsa-Glad to. He was a catalyst for much good. We need more like him.
…………
Hi Joe,
I just had to comment on the statement that helping sway his followers to vote for Coble when he promised to do the recycling thing, if elected, constitutes a blemish on Rick Baty's record. This does not create a blemish on Rick's record nor anyone's record, it is an honest and open way to achieve some very important things and obviously you were willing to go the same route. Whatever kind of leader Coble became or whatever kind you might become if elected would not blemish Rick's very dedicated and unselfish efforts. A fact of life, and Rick knew it, the people who admired and were part of that group of followers were strong thinkers who walked with as opposed to being followers. In plain words you could not lead them where they felt they should not go, they went based on their own knowledge and research.
Rick Baty was a dear friend of mine. I attended his and Anna Hata's wedding, at that time he was Raja Swarr (probably spelled incorrectly), saw their daughter when she was just days old, I watched as he returned to being Rick and Anna Hata returned to being Nicki, there when they painfully separated. I was with them back when environmentalism was a joke and people wished we would all just get lost. I was there as Nicki nursed him in his illness and we all suffered when he passed on. It was indeed a great loss to everyone in this city and state. Rick was an example we could all follow and wish more of us would. So I do thank you for reminding us of some of his wonderful efforts and reminding us of this very special person.
Needed
Hey Joe,
I would appreciate it if you could forward this email to your list serve. Thanks for all that you do.
From: Scott Coots [mailto:scoots@hdsvans.com]
Sent: Thursday, September 25, 2008 4:26 PM
To: scoots@hdsvans.com
Subject: We Need Your Help!
Dear Customer,
We are working with a non-profit charitable organization that is setting up a driving experience in an accesible modified racing car at Atlanta Motor Speedway. The date of the event is October 23-26, 2008. The event will be held at the Atlanta Motor Speedway.
The non-profit would like to rent or requests the donation of a Class A motor home for the event.
If anyone knows where to rent such an RV or has one that they would donate the use of we would greatly appreciate you contacting us.
I can be reached at 770-422-9674 or mdresdner@hdsvans.com.
Thank You,
Michael Dresdner
Michael Dresdner
Handicapped Driver Services
1310 Kennestone Circle
Marietta, Georgia 30066
770-422-9674
mdresdner@hdsvans.com
www.hdsvans.com
Atlanta Jacksonville Birmingham Nashville
…………
Joe,
How are ya? Me...doing better, getting my strength back.
I am writing to let you know that I am in need of a file cabinet (a small one would work). If you know of anything, please help me.
Take care of yourself.
Eboniramm
Main Street Jazz
www.eboniramm.com
803-665-7036
Hydrogen: Hope or Hype?
Plenty to read: http://www.designnews.com/channel/Hydrogen_Power_Hope_or_Hype_.php
Flooding
One kind reader, an engineer, always keeps me informed about flooding issues as he is concerned that we make the same mistakes on the banks of the Congaree as other states have made with their rivers.
From the NSPE newsletter: (NSPE => National Society of Professional Engineers)
Overdevelopment may have worsened flood damage.
In continuing coverage from Wednesday's edition of Daily Designs, the Washington Post (6/19, A1, Achenbach) reports in a front-page story that some in Iowa suspect that "this natural disaster wasn't really all that natural" and "that the heavy rains fell on a landscape radically reengineered by humans." However, while "[o]fficials are still trying to understand all the factors that contributed to Iowa's flooding,...not everyone has" such suspicions. In fact, "some Iowans who study the environment suspect that changes in the land, both recently and over the past century or so, have made Iowa's terrain not only highly profitable but also highly vulnerable to flooding." Jerry DeWitt, director of the Leopold Center for Sustainable Agriculture at Iowa State University, "sense[s] that the flooding is not the result of a 500-year event," because "[w]e're farming closer to creeks, farming closer to rivers," and "[w]ithout adequate buffer strips, the water moves rapidly from the field directly to the surface water."
The Wall Street Journal (6/19, A4, Belkin) adds, "As the swollen Mississippi rolls south, breaching levees, drowning crops and submerging towns, a debate is intensifying among scientists, environmentalists, and developers about whether development not only flirts with disaster, but helps cause it." The Journal notes, "Since the historic flood of 1993, nearly 30,000 homes have been built on land that was underwater around the Mississippi and Missouri rivers near St. Louis. This weekend, the dwellers may find out if they built wisely."
Meanwhile, "[a]s floodwaters slowly receded from much of Iowa on Wednesday, authorities focused their attention on a swollen Mississippi River that punched through at least two levees in Western Illinois and increasingly threatened hamlets in Missouri," the Los Angeles Times (6/19, Huffstutter) reports. "Federal officials said as many as 30 levees were in peril."
"Twenty levees already have been topped by flood waters this week," according to the Army Corps of Engineers, the AP (6/19) adds. "The levees in danger protect rural, industrial, and agricultural areas, not heavily populated towns. The levees protecting large towns are not as at risk of overflowing, officials said."
A related AP (6/19) report notes that "[t]he White House is asking Congress for $1.8 billion in emergency disaster aid for the flood-ravaged Midwest." Meanwhile, "[a] dozen senators in both parties are pressing to add money for levee repair and help for displaced homeowners, among other pressing needs."
Flood pollution raises concerns. USA Today (6/19, 3A, Gomez, Dorell) reports, "Human waste overflows, fertilizer runoff, and floating propane tanks are raising concerns in the flooded Midwest but should not cause severe or long-term environmental problems, health officials say." Karen Timberlake, Wisconsin's secretary of Health and Family Services said that "[s]erious chemical pollution from factories and chemical plants 'aren't concerns because we don't have many reports, just isolated cases and leaks.'" She said that, "at least for now,...health concerns are rather mundane: 'bacteria...stomach upset...and (the possibility of) tetanus.'" USA Today notes, "The sole wastewater treatment plant in Cedar Rapids, Iowa, is inoperable, and Pat Ball, the city's utilities director, said it won't be up and running for months. That means raw sewage will continue spilling into the river and affect cities downstream, just as waste from damaged cities upstream continue to flow into Cedar Rapids' water supply."
The City
Joe,
You can bet your sweet ass that the city is "broke"!!! Yet, they are spending over $100,000 to do a new salary survey so they can once again "legitimately" boost salaries of those in the big building on the corner. Also, they just hired a new Deputy Finance Director which is a brand new position for the city @ $85,000 per year. They still have to fill the Finance Director's position at about $110,000 per year. Not to mention the literally thousands of dollars that they are spending to do a search for someone for the position. Two months ago Austen was in the newspaper with a statement that there is a "job" freeze on in the city since they are trying to conserve funds. That was and still is a lie--they are posting jobs and hiring people right and left. He put that in the paper to get everyone off his butt about spending so much money. Also, it is about time for Austen's "helpers" at city hall to get another "pay adjustment" that does NOT go thru council for approval.
…………
Joe:
Incompetence reigns…disgusting!
Subject: FW: City Finances Update
-----Original Message-----
From: Coble, Bob [mailto:bcoble@columbiasc.net]
Sent: Saturday, September 27, 2008 9:55 AM
Subject: City Finances Update
I wanted to give you an update on our efforts to correct problems in the City's Finance Department. This week we had a training and orientation session for the Audit Committee that was conducted by Jackie Breeland a CPA. I have copied and pasted an email from our Interim Finance Director Missy Caughman with this week's status report. Additionally, I will send by separate email send a report from staff outlining how we are protecting the City's assets in view of the national financial crisis. If you have any questions please call me at 315-4123 or email. Thanks
From: Caughman, Missy
Sent: Fri 9/26/2008 5:43 PM
To: Austin, Charles Sr. (City Manager)
Cc: Ellis, William H
Subject: FW: FY 06/07 Audit & FY 07/08 Close Status
Mr. Austin
Here is the weekly update on the status of FY 06/07 and FY 07/08.
FY 06/07
*Bud Addison received a final draft of the CAFR on September 17.
*The final draft of ordinance to amend the FY 06/07 budget was sent to Legal on September 25 for review and placement on the October 1 agenda for City Council approval. The budget amendment will need to be approved in order to finalize the CAFR.
*A tentative date to send the CAFR to the printer for publication is October 17.
*The FY 05/06 A133 Single Audit (audit of grant accounts) final entries are also being reviewed by Bud and we have expressed to him that this is a high priority.
FY 07/08
*Bill Ellis is leading City staff with closing of FY 07/08. The MASC team is assisting in these efforts and will be partnered with City staff as much as possible for the training and coordination of the work.
*Staff is evaluating the journal entries and work performed on FY 06/07 as a basis for possible entries needed in FY 07/08. Once the prior year entries are reviewed, we will have a better idea of time frame for completion of the FY 07/08 closing and issuing of the CAFR.
* We will deliver to you a schedule of events (with appropriate terminology) in addition to weekly progress reports of FY 07/08 within the next 2 weeks.
Should you have any questions or need additional information, please let me know.
Thanks
Missy
…………
From: Coble, Bob [mailto:bcoble@columbiasc.net]
Sent: Saturday, September 27, 2008 10:09 AM
Subject: Part II City Finances Update
In view of the national financial crisis, we asked City staff to review our investment status. I am attaching that report for your review. Thanks
Points concerning the City’s cash and investments position.
General
The City is subject to state law concerning its cash and investments policies. State law requires a very conservative policy with which the City complies.
Cash
The City’s primary bank accounts are with First Citizens Bank. Other banks are also local.
Deposits in commercial banks are collateralized by government securities. This means that for practical purposes the deposits are 100% "insured" by the federal government.
There is no reason to believe that the local banks in which the City’s deposits are held have any exposure to the types of loans or investments ("sub prime products") that have been at the root of the nationwide credit crisis.
Accordingly, the City’s cash is collateralized and in banks with no perceived exposure to high risk assets.
Investments
Investments are in two groups:
o Group One – investments administered by Merchant Capital. These investments are very conservative and are in or collateralized by government securities. The status of this portfolio was discussed with Brent Robertson and Trey Monroe and all agreed that the City’s investment position was as conservative as practicable.
o Group Two – these investments include the City’s Treasurer’s Fund and several smaller funds and approximate $96.3 million at June 30, 2008. These investments are under the custodianship of U.S. Bank and also are in government securities.
All the City’s investments are under a custodian or trustee – this adds a further level of protection due to their fiduciary duty to "perfect" the City’s ownership of the securities that they administer.
We obtained and reviewed a market value report received from U.S. Bank for the Group Two investments. Overall the market value is in excess of the cost of the investments (giving rise to an unrealized gain). This analysis supports the conclusion that the City’s investments are high quality (otherwise the market value would be diminished due to credit concerns).
Cash and Investments Summary
Cash is conservatively managed and positioned due to the local banks used and because of the collateral "insuring" the City’s deposits.
Investments are also positioned conservatively with respect to credit risk (i.e. credit risk is practically eliminated due to the state’s limitations on investments and the City’s investments in government securities) and the investment’s market value exceeds cost.
Bond Insurance
This matter was discussed with Brent Robertson and Trey Monroe of merchant capital.
The City’s exposure is limited to one bond – the 1993 Water and Sewer Bond which is insured by AMBAC. Currently, AMBAC’s credit rating is adequate (AA). If AMBAC is downgraded the worst case is that the City would have to deposit $7.3 million in a reserve fund (essentially the City would set aside the last year’s payment).
Even in that event, there should be no effect on the City’s bond rating because the City has adequate cash to satisfy the reserve requirements.
Other options in the event of an AMBAC downgrade are to secure a letter of credit to support the debt or to acquire other insurance. In any event, the City should be able to manage the worst case without any significant disruption.
To Do
We will continue to monitor the credit markets and the City’s market position; however, at this time the City is as conservatively positioned as could reasonably be expected.
Miscellaneous Received
If anyone has any old phones they have replace you can donate them to Sistercare in Cayce. They can wipe the Eprom and give them to women at risk. Even if the phone doesn’t have service 911 sill has to work by law. I know they would really appreciate it and they can use any and all old cell phones they can get.
…………
Write in SHERRI ABBOTT for Richland County Clerk of Court November 4th.
Visit the web site: www.sherriabbott.com
View full size
Forward this e-mail to everyone in your address book.
............
'Political Correctness is a doctrine, fostered by a delusional, illogical minority, and rabidly promoted by an unscrupulous mainstream media, which holds forth the proposition that it is entirely possible to pick up a turd by the clean end.'
jsa-My definition is not nearly as descriptive, but another word for PC is hypocrisy.
…………
Something we won’t worry about this year (a rerun)
A farmer from South Carolina dies and, being a heathen, goes to Hell.
When he gets there its 95º F with 90% humidity, but Satan notices he's
kicked back on the brimstone relaxing comfortably.
He asks, "Why aren't you miserable like everyone else here?" The farmer
replies, "Oh, this is like a warm spring day in Columbia . I like it."
Angry, Satan turns up the thermostat until its 100º F and 95% humidity.
Still, the farmer's happy. "This is like a good June day on the farm.
Not bad at all."
Furious, Satan turns it up to 105º F and 99% humidity. Everyone is even
more miserable, except the farmer from South Carolina still resting.< BR>
"Hey, this is like a good August day on the farm bailing hay. Feels good
the hotter the better."
In a total rage, Satan turns the thermostat down to minus 25º F. Within
seconds, the air becomes chilly and frost appears, soon followed by
solid ice everywhere. Satan smirks, watching the farmer.
The confused farmer looks down at the frozen ground for a moment,
suddenly jumps up excitedly, looks around everywhere and begins to
laugh, scream, and jump for joy.
Scroll Down…..
"THE GAMECOCKS WON A NATIONAL CHAMPIONSHIP
Good Morning Everyone,
Thanks to each of you for coming out last evening to hear two really good and informative speakers. Both Rob Godfrey and Adam Piper did a superb job – we are indeed fortunate to have these two young people on the conservat ive side of the equation.
I know the information provided below is lengthy, but please be patient and read every line or better still print it for quick reference. If you have further questions and can’t get them answered by logging onto scvotes.org, just let me know and I will try getting the answers in a timely manner.
There are some local issues that are not yet available. I will let you know just as soon as I receive the information.
Thanks everyone,
LN
ALL UNDERSCOR ED INFORMATION SHOWN BELOW IS ACCESSIBLE BY LOGGING ONTO SCVOTES.ORG
VOTER REGISTRATION ‘PHONE NUMBER; 576-2240
October 4th is the Deadline to Register to Vote in the 2008 General Election.
November 4th is Election Day 2008. Polls are open 7 am to 7 pm.
Register to Vote
How to Vote
List of Candidates - Federal & State
List of Candidates - by County (coming soon)
Constitutional Amendment Questions & ExplanationsSouth Carolina Voter Registration Information
*********** ******************************************************
***UNDERSCORED INFORMATION: PLEASE LOG ONTO SCVOTES.ORG AND CLICK ON THE UNDERSCORED FOR MORE INFORMATION.
How to Register
A citizen who wishes to register to vote can register in perso n at their county board of voter registration; or they may download a form, complete it, and mail it to their county board of voter registration.
Voter Registration Application
County Boards of Voter Registration - Mailing Addresses & Contact Numbe rs
Who Can Register?
In order to vote, South Carolina law requires one must first register to vote at least 30 days prior to the election. To be eligible to register in South Carolina you MUST:
• be a United States citizen -be at least eighteen years old on or before the next election
• be a resident of South Carolina, this county and precinct
• not be under a court order declaring you mentally incompetent
• not be confined in any public prison resulting from a conviction of a crime
• have never been convicted of a felony or offense against the election laws OR if previously convicted, have served the entire sentence, including probation or parole, or have received a pardon for the conviction.
There is no length of residency requirement in South Carolina in order to register to vote. You can register at any time.
You must be registered at least 30 days prior to any election in order to vote in that election. Registration by mail applications must be postmarked at least 3 0 days prior to that particular election to be eligible.
Check Your Voter Registration Information
Note: When checking your voter registration information, you must provide your name, county and date of birth as it appears on your voter registrati on card in order to view your information.
Your Voter Registration Information
Update Your Voter Registration Information
If your voter registration information has changed (name, address, etc.), and you still live within the same county, you may update your voter registration information using this form. If you have moved to a different county, you will need to re-register in your new county (see How to Register above).
Students
Students may register to vote where they reside while at tending college.
Students can use the following documents as proof of residency:
• a copy of a current, valid photo ID (driver's license, student ID, DMV-issued ID cards, etc.)
• copy of a current utility bill, bank statement, paycheck, or othe r government document that shows your name and address in the county
Many college students who live on campus receive their mail at a campus post office box. These students must register at the physical address of their dormitory. The student's P.O. Box can be provided for mailing and contact purposes.
Voter Registration Drives
If you are planning a voter registration drive at an institution of higher learning, please make sure you have the National Voter Registration Application for student s who maintain their residency outside of South Carolina. For a list of addresses of Election Commissions throughout the country please see the Election Assistance Commision web site.
Absentee Voting
Absentee Voting for Military & Overseas C itizens
Voters with Disabilities
How to Use the Touchscreen Voting Machines
******************************************************************
2008 Constitutional Amendment Questions
Amendment 1
Must Section 33, Article II I of the Constitution of this State be amended so as to delete the provision that no unmarried woman shall legally consent to sexual intercourse who shall not have attained the age of fourteen years?
Yes []
No []
Explanation of Above:
This amendment deletes the section of the Constitution which says an unmarried woman must be fourteen years old or older in order to consent to sexual intercourse. Deleting this section would allow the state legislature to set the age of consent. Currently, the state legislature has the age of consent set at sixteen for most cases.
A "yes" vote would delete the section from the Constitution and let the state legislature set the age of consent.
A "no" vote would leave the section of the Constitution in place.
Amendment 2
Must Section 16, Article X of the Constitution of this State relating to benefits and funding of public employee pension plans in this State and the investments allowed for funds of the various state-operated retirement syste ms be amended so as to provide that the funds of any trust fund established by law for the funding of post-employment benefits for state employees and public school teachers may be invested and reinvested in equity securities subject to the same limitati ons on such investments applicable for the funds of the various state-operated retirement systems?
Yes []
No []
Explanation of Above:
"Post-employment benefits" are benefits, mainly health insurance, provided to eligible state government an d school district retirees.
To comply with a change in accounting standards, the state has created trust funds to pay for these post-employment benefits. This amendment relates to how the money in these trust funds may be invested.
A "yes" vote w ould give the state government the option to invest these funds in equity securities (stocks).
A "no" vote would mean that state government is not allowed to invest these funds in any kind of equity securities (stocks).
Amendment 3
Must Secti on 16, Article X of the Constitution of this State relating to benefits and funding of public employee pension plans in this State and the investments allowed for funds of the various state-operated retirement systems be amended so as to provide that the funds of any political subdivision of this State that have been set aside for the funding of post-employment benefits for the political subdivision's employees, including those invested in independent trusts established for that purpose, may be invested or reinvested in equity securities of the type permitted for investment by the various state operated retirement systems, as provided for by the General Assembly?
Yes []
No []
Explanation of Above:
This amendment is the same as Amendment 2 except it applies to local governments' post-employment benefits (instead of the state government's post-employment benefits).
________________________________________
There is much more detailed info at the far bottom about voting and the constitutional amendments we are to vote on.
Joseph, I have six tickets to the USC v Ole Miss game in Oxford, MS for sale.
Let me add to your business....I need Tennessee - Georgia tix for Oct 11th!
Joe, hey wanted to know if you knew anybody with 4 lower seats to the SC ,Clemson game?
Hey Joe,
I'd love to buy 4 tickets to the LSU game if you hear of any. A parking spot would be great too. Thanks!
Great! I have passed the word on. Email me about any. Now that those are out of the way……..
Homeless
Joseph,
I attended the meeting yesterday, and got there about 1:30, so as to arrive early, since your notice said it began at 2 p.m. The meeting had already started. However,i did get to speak. I understand that there is a three minute rule, but I had not been speaking much longer than three minutes (if that long) when Mr. Austin interrupted me when I bought up an issue that had been raised by a someone who had spoken prior to me, The fact was that some of these people are homeless because they cannot take advantage of housing due to the fact that they have been in Jail.
When I further addressed this issue by saying that some of these people have benn in jail as a a result of the fact that the city often chooses to throw them in jail for loitering and pan handling, and that this causes the city not have enough police officer oftentimes to protect us from real crimes (shop lifting, breaking and entering, etc) and that it is the Tax payer who ends up paying because rather than dealing with the issue, the police e just throws these people in Jail/
It was at this point that I suggested (as i have done before) that there needs to be some criteria or system in place in which people who have been in jail for loitering and pan handling and people who have been in jail for shop lifting or violent crimes. The person who bought this up "works at a law firm on Bull street," had mentioned that she had offered to help some homeless people get job a at her law firm, by driving them around to get (birth certificate and other needed documents so that they could get into housing. After she had done this work on behalf of the homeless, they could to get housing because they "had a record."
It was at this point that Austin tried to get me of the stand." I did finish saying what I needed to say however. I told the city that rather if they spend less time complaining about this, and more time trying to work with community, existing programs and businesses, rather than giving lip service and going by "The not in my back yard" excuse, they may accomplish more.
I had even mentioned that city work initiatives that are advertised in the Big DM, also be advertised in free Publications inn free Publications such as "Free Times," City Newspaper, and other free publications that these people actually read. I also suggested that they put leaflets on the blank advertising spaces not used on the buses, and that they be distributed at the transit station, where these programs targeted towards programs could be seen by the homeless. I even suggested that rather than paying $10-$15/ hr to get people to pick up trash, that they try paying some of these homeless people to do it. Again Austin mentioned that my three minutes was exceeded.
I should also point out two council members here: Kirkman Finley, who conspicuously absent, and E.W. Cromartie who was text messaging during a rime when someone else was speaking. When I did get to speak,I thanked the council for allowing me to speak, and prefaced my comments by saying that I followed the rules and turned my cell phone off, and asked Council member's not to text message or answer calls while I was speaking. Adding that the Councilperson who was doing that as someone else was speaking, exhibited "the height of Rudeness.)
My impressions are as follows: (1) Austin is going to do what he is told to do. (2) Tony Lawton will at least attempt to try to communicate with the Public. According to Tony,the city will be getting input from the citizens of Columbia " within the next 14-21 days." (3) Coble will do what it takes to satisfy whoever has objections with words more than actions. (4) Rickenman and Gergel in my opinion came off as the only two who were genuinely interested in being at this meeting, for the purpose of making a positive difference.
Rick Baty
Sharing something about my City and my dad...Thanks Joe!
jsa-Glad to. He was a catalyst for much good. We need more like him.
…………
Hi Joe,
I just had to comment on the statement that helping sway his followers to vote for Coble when he promised to do the recycling thing, if elected, constitutes a blemish on Rick Baty's record. This does not create a blemish on Rick's record nor anyone's record, it is an honest and open way to achieve some very important things and obviously you were willing to go the same route. Whatever kind of leader Coble became or whatever kind you might become if elected would not blemish Rick's very dedicated and unselfish efforts. A fact of life, and Rick knew it, the people who admired and were part of that group of followers were strong thinkers who walked with as opposed to being followers. In plain words you could not lead them where they felt they should not go, they went based on their own knowledge and research.
Rick Baty was a dear friend of mine. I attended his and Anna Hata's wedding, at that time he was Raja Swarr (probably spelled incorrectly), saw their daughter when she was just days old, I watched as he returned to being Rick and Anna Hata returned to being Nicki, there when they painfully separated. I was with them back when environmentalism was a joke and people wished we would all just get lost. I was there as Nicki nursed him in his illness and we all suffered when he passed on. It was indeed a great loss to everyone in this city and state. Rick was an example we could all follow and wish more of us would. So I do thank you for reminding us of some of his wonderful efforts and reminding us of this very special person.
Needed
Hey Joe,
I would appreciate it if you could forward this email to your list serve. Thanks for all that you do.
From: Scott Coots [mailto:scoots@hdsvans.com]
Sent: Thursday, September 25, 2008 4:26 PM
To: scoots@hdsvans.com
Subject: We Need Your Help!
Dear Customer,
We are working with a non-profit charitable organization that is setting up a driving experience in an accesible modified racing car at Atlanta Motor Speedway. The date of the event is October 23-26, 2008. The event will be held at the Atlanta Motor Speedway.
The non-profit would like to rent or requests the donation of a Class A motor home for the event.
If anyone knows where to rent such an RV or has one that they would donate the use of we would greatly appreciate you contacting us.
I can be reached at 770-422-9674 or mdresdner@hdsvans.com.
Thank You,
Michael Dresdner
Michael Dresdner
Handicapped Driver Services
1310 Kennestone Circle
Marietta, Georgia 30066
770-422-9674
mdresdner@hdsvans.com
www.hdsvans.com
Atlanta Jacksonville Birmingham Nashville
…………
Joe,
How are ya? Me...doing better, getting my strength back.
I am writing to let you know that I am in need of a file cabinet (a small one would work). If you know of anything, please help me.
Take care of yourself.
Eboniramm
Main Street Jazz
www.eboniramm.com
803-665-7036
Hydrogen: Hope or Hype?
Plenty to read: http://www.designnews.com/channel/Hydrogen_Power_Hope_or_Hype_.php
Flooding
One kind reader, an engineer, always keeps me informed about flooding issues as he is concerned that we make the same mistakes on the banks of the Congaree as other states have made with their rivers.
From the NSPE newsletter: (NSPE => National Society of Professional Engineers)
Overdevelopment may have worsened flood damage.
In continuing coverage from Wednesday's edition of Daily Designs, the Washington Post (6/19, A1, Achenbach) reports in a front-page story that some in Iowa suspect that "this natural disaster wasn't really all that natural" and "that the heavy rains fell on a landscape radically reengineered by humans." However, while "[o]fficials are still trying to understand all the factors that contributed to Iowa's flooding,...not everyone has" such suspicions. In fact, "some Iowans who study the environment suspect that changes in the land, both recently and over the past century or so, have made Iowa's terrain not only highly profitable but also highly vulnerable to flooding." Jerry DeWitt, director of the Leopold Center for Sustainable Agriculture at Iowa State University, "sense[s] that the flooding is not the result of a 500-year event," because "[w]e're farming closer to creeks, farming closer to rivers," and "[w]ithout adequate buffer strips, the water moves rapidly from the field directly to the surface water."
The Wall Street Journal (6/19, A4, Belkin) adds, "As the swollen Mississippi rolls south, breaching levees, drowning crops and submerging towns, a debate is intensifying among scientists, environmentalists, and developers about whether development not only flirts with disaster, but helps cause it." The Journal notes, "Since the historic flood of 1993, nearly 30,000 homes have been built on land that was underwater around the Mississippi and Missouri rivers near St. Louis. This weekend, the dwellers may find out if they built wisely."
Meanwhile, "[a]s floodwaters slowly receded from much of Iowa on Wednesday, authorities focused their attention on a swollen Mississippi River that punched through at least two levees in Western Illinois and increasingly threatened hamlets in Missouri," the Los Angeles Times (6/19, Huffstutter) reports. "Federal officials said as many as 30 levees were in peril."
"Twenty levees already have been topped by flood waters this week," according to the Army Corps of Engineers, the AP (6/19) adds. "The levees in danger protect rural, industrial, and agricultural areas, not heavily populated towns. The levees protecting large towns are not as at risk of overflowing, officials said."
A related AP (6/19) report notes that "[t]he White House is asking Congress for $1.8 billion in emergency disaster aid for the flood-ravaged Midwest." Meanwhile, "[a] dozen senators in both parties are pressing to add money for levee repair and help for displaced homeowners, among other pressing needs."
Flood pollution raises concerns. USA Today (6/19, 3A, Gomez, Dorell) reports, "Human waste overflows, fertilizer runoff, and floating propane tanks are raising concerns in the flooded Midwest but should not cause severe or long-term environmental problems, health officials say." Karen Timberlake, Wisconsin's secretary of Health and Family Services said that "[s]erious chemical pollution from factories and chemical plants 'aren't concerns because we don't have many reports, just isolated cases and leaks.'" She said that, "at least for now,...health concerns are rather mundane: 'bacteria...stomach upset...and (the possibility of) tetanus.'" USA Today notes, "The sole wastewater treatment plant in Cedar Rapids, Iowa, is inoperable, and Pat Ball, the city's utilities director, said it won't be up and running for months. That means raw sewage will continue spilling into the river and affect cities downstream, just as waste from damaged cities upstream continue to flow into Cedar Rapids' water supply."
The City
Joe,
You can bet your sweet ass that the city is "broke"!!! Yet, they are spending over $100,000 to do a new salary survey so they can once again "legitimately" boost salaries of those in the big building on the corner. Also, they just hired a new Deputy Finance Director which is a brand new position for the city @ $85,000 per year. They still have to fill the Finance Director's position at about $110,000 per year. Not to mention the literally thousands of dollars that they are spending to do a search for someone for the position. Two months ago Austen was in the newspaper with a statement that there is a "job" freeze on in the city since they are trying to conserve funds. That was and still is a lie--they are posting jobs and hiring people right and left. He put that in the paper to get everyone off his butt about spending so much money. Also, it is about time for Austen's "helpers" at city hall to get another "pay adjustment" that does NOT go thru council for approval.
…………
Joe:
Incompetence reigns…disgusting!
Subject: FW: City Finances Update
-----Original Message-----
From: Coble, Bob [mailto:bcoble@columbiasc.net]
Sent: Saturday, September 27, 2008 9:55 AM
Subject: City Finances Update
I wanted to give you an update on our efforts to correct problems in the City's Finance Department. This week we had a training and orientation session for the Audit Committee that was conducted by Jackie Breeland a CPA. I have copied and pasted an email from our Interim Finance Director Missy Caughman with this week's status report. Additionally, I will send by separate email send a report from staff outlining how we are protecting the City's assets in view of the national financial crisis. If you have any questions please call me at 315-4123 or email. Thanks
From: Caughman, Missy
Sent: Fri 9/26/2008 5:43 PM
To: Austin, Charles Sr. (City Manager)
Cc: Ellis, William H
Subject: FW: FY 06/07 Audit & FY 07/08 Close Status
Mr. Austin
Here is the weekly update on the status of FY 06/07 and FY 07/08.
FY 06/07
*Bud Addison received a final draft of the CAFR on September 17.
*The final draft of ordinance to amend the FY 06/07 budget was sent to Legal on September 25 for review and placement on the October 1 agenda for City Council approval. The budget amendment will need to be approved in order to finalize the CAFR.
*A tentative date to send the CAFR to the printer for publication is October 17.
*The FY 05/06 A133 Single Audit (audit of grant accounts) final entries are also being reviewed by Bud and we have expressed to him that this is a high priority.
FY 07/08
*Bill Ellis is leading City staff with closing of FY 07/08. The MASC team is assisting in these efforts and will be partnered with City staff as much as possible for the training and coordination of the work.
*Staff is evaluating the journal entries and work performed on FY 06/07 as a basis for possible entries needed in FY 07/08. Once the prior year entries are reviewed, we will have a better idea of time frame for completion of the FY 07/08 closing and issuing of the CAFR.
* We will deliver to you a schedule of events (with appropriate terminology) in addition to weekly progress reports of FY 07/08 within the next 2 weeks.
Should you have any questions or need additional information, please let me know.
Thanks
Missy
…………
From: Coble, Bob [mailto:bcoble@columbiasc.net]
Sent: Saturday, September 27, 2008 10:09 AM
Subject: Part II City Finances Update
In view of the national financial crisis, we asked City staff to review our investment status. I am attaching that report for your review. Thanks
Points concerning the City’s cash and investments position.
General
The City is subject to state law concerning its cash and investments policies. State law requires a very conservative policy with which the City complies.
Cash
The City’s primary bank accounts are with First Citizens Bank. Other banks are also local.
Deposits in commercial banks are collateralized by government securities. This means that for practical purposes the deposits are 100% "insured" by the federal government.
There is no reason to believe that the local banks in which the City’s deposits are held have any exposure to the types of loans or investments ("sub prime products") that have been at the root of the nationwide credit crisis.
Accordingly, the City’s cash is collateralized and in banks with no perceived exposure to high risk assets.
Investments
Investments are in two groups:
o Group One – investments administered by Merchant Capital. These investments are very conservative and are in or collateralized by government securities. The status of this portfolio was discussed with Brent Robertson and Trey Monroe and all agreed that the City’s investment position was as conservative as practicable.
o Group Two – these investments include the City’s Treasurer’s Fund and several smaller funds and approximate $96.3 million at June 30, 2008. These investments are under the custodianship of U.S. Bank and also are in government securities.
All the City’s investments are under a custodian or trustee – this adds a further level of protection due to their fiduciary duty to "perfect" the City’s ownership of the securities that they administer.
We obtained and reviewed a market value report received from U.S. Bank for the Group Two investments. Overall the market value is in excess of the cost of the investments (giving rise to an unrealized gain). This analysis supports the conclusion that the City’s investments are high quality (otherwise the market value would be diminished due to credit concerns).
Cash and Investments Summary
Cash is conservatively managed and positioned due to the local banks used and because of the collateral "insuring" the City’s deposits.
Investments are also positioned conservatively with respect to credit risk (i.e. credit risk is practically eliminated due to the state’s limitations on investments and the City’s investments in government securities) and the investment’s market value exceeds cost.
Bond Insurance
This matter was discussed with Brent Robertson and Trey Monroe of merchant capital.
The City’s exposure is limited to one bond – the 1993 Water and Sewer Bond which is insured by AMBAC. Currently, AMBAC’s credit rating is adequate (AA). If AMBAC is downgraded the worst case is that the City would have to deposit $7.3 million in a reserve fund (essentially the City would set aside the last year’s payment).
Even in that event, there should be no effect on the City’s bond rating because the City has adequate cash to satisfy the reserve requirements.
Other options in the event of an AMBAC downgrade are to secure a letter of credit to support the debt or to acquire other insurance. In any event, the City should be able to manage the worst case without any significant disruption.
To Do
We will continue to monitor the credit markets and the City’s market position; however, at this time the City is as conservatively positioned as could reasonably be expected.
Miscellaneous Received
If anyone has any old phones they have replace you can donate them to Sistercare in Cayce. They can wipe the Eprom and give them to women at risk. Even if the phone doesn’t have service 911 sill has to work by law. I know they would really appreciate it and they can use any and all old cell phones they can get.
…………
Write in SHERRI ABBOTT for Richland County Clerk of Court November 4th.
Visit the web site: www.sherriabbott.com
View full size
Forward this e-mail to everyone in your address book.
............
'Political Correctness is a doctrine, fostered by a delusional, illogical minority, and rabidly promoted by an unscrupulous mainstream media, which holds forth the proposition that it is entirely possible to pick up a turd by the clean end.'
jsa-My definition is not nearly as descriptive, but another word for PC is hypocrisy.
…………
Something we won’t worry about this year (a rerun)
A farmer from South Carolina dies and, being a heathen, goes to Hell.
When he gets there its 95º F with 90% humidity, but Satan notices he's
kicked back on the brimstone relaxing comfortably.
He asks, "Why aren't you miserable like everyone else here?" The farmer
replies, "Oh, this is like a warm spring day in Columbia . I like it."
Angry, Satan turns up the thermostat until its 100º F and 95% humidity.
Still, the farmer's happy. "This is like a good June day on the farm.
Not bad at all."
Furious, Satan turns it up to 105º F and 99% humidity. Everyone is even
more miserable, except the farmer from South Carolina still resting.< BR>
"Hey, this is like a good August day on the farm bailing hay. Feels good
the hotter the better."
In a total rage, Satan turns the thermostat down to minus 25º F. Within
seconds, the air becomes chilly and frost appears, soon followed by
solid ice everywhere. Satan smirks, watching the farmer.
The confused farmer looks down at the frozen ground for a moment,
suddenly jumps up excitedly, looks around everywhere and begins to
laugh, scream, and jump for joy.
Scroll Down…..
"THE GAMECOCKS WON A NATIONAL CHAMPIONSHIP
Good Morning Everyone,
Thanks to each of you for coming out last evening to hear two really good and informative speakers. Both Rob Godfrey and Adam Piper did a superb job – we are indeed fortunate to have these two young people on the conservat ive side of the equation.
I know the information provided below is lengthy, but please be patient and read every line or better still print it for quick reference. If you have further questions and can’t get them answered by logging onto scvotes.org, just let me know and I will try getting the answers in a timely manner.
There are some local issues that are not yet available. I will let you know just as soon as I receive the information.
Thanks everyone,
LN
ALL UNDERSCOR ED INFORMATION SHOWN BELOW IS ACCESSIBLE BY LOGGING ONTO SCVOTES.ORG
VOTER REGISTRATION ‘PHONE NUMBER; 576-2240
October 4th is the Deadline to Register to Vote in the 2008 General Election.
November 4th is Election Day 2008. Polls are open 7 am to 7 pm.
Register to Vote
How to Vote
List of Candidates - Federal & State
List of Candidates - by County (coming soon)
Constitutional Amendment Questions & ExplanationsSouth Carolina Voter Registration Information
*********** ******************************************************
***UNDERSCORED INFORMATION: PLEASE LOG ONTO SCVOTES.ORG AND CLICK ON THE UNDERSCORED FOR MORE INFORMATION.
How to Register
A citizen who wishes to register to vote can register in perso n at their county board of voter registration; or they may download a form, complete it, and mail it to their county board of voter registration.
Voter Registration Application
County Boards of Voter Registration - Mailing Addresses & Contact Numbe rs
Who Can Register?
In order to vote, South Carolina law requires one must first register to vote at least 30 days prior to the election. To be eligible to register in South Carolina you MUST:
• be a United States citizen -be at least eighteen years old on or before the next election
• be a resident of South Carolina, this county and precinct
• not be under a court order declaring you mentally incompetent
• not be confined in any public prison resulting from a conviction of a crime
• have never been convicted of a felony or offense against the election laws OR if previously convicted, have served the entire sentence, including probation or parole, or have received a pardon for the conviction.
There is no length of residency requirement in South Carolina in order to register to vote. You can register at any time.
You must be registered at least 30 days prior to any election in order to vote in that election. Registration by mail applications must be postmarked at least 3 0 days prior to that particular election to be eligible.
Check Your Voter Registration Information
Note: When checking your voter registration information, you must provide your name, county and date of birth as it appears on your voter registrati on card in order to view your information.
Your Voter Registration Information
Update Your Voter Registration Information
If your voter registration information has changed (name, address, etc.), and you still live within the same county, you may update your voter registration information using this form. If you have moved to a different county, you will need to re-register in your new county (see How to Register above).
Students
Students may register to vote where they reside while at tending college.
Students can use the following documents as proof of residency:
• a copy of a current, valid photo ID (driver's license, student ID, DMV-issued ID cards, etc.)
• copy of a current utility bill, bank statement, paycheck, or othe r government document that shows your name and address in the county
Many college students who live on campus receive their mail at a campus post office box. These students must register at the physical address of their dormitory. The student's P.O. Box can be provided for mailing and contact purposes.
Voter Registration Drives
If you are planning a voter registration drive at an institution of higher learning, please make sure you have the National Voter Registration Application for student s who maintain their residency outside of South Carolina. For a list of addresses of Election Commissions throughout the country please see the Election Assistance Commision web site.
Absentee Voting
Absentee Voting for Military & Overseas C itizens
Voters with Disabilities
How to Use the Touchscreen Voting Machines
******************************************************************
2008 Constitutional Amendment Questions
Amendment 1
Must Section 33, Article II I of the Constitution of this State be amended so as to delete the provision that no unmarried woman shall legally consent to sexual intercourse who shall not have attained the age of fourteen years?
Yes []
No []
Explanation of Above:
This amendment deletes the section of the Constitution which says an unmarried woman must be fourteen years old or older in order to consent to sexual intercourse. Deleting this section would allow the state legislature to set the age of consent. Currently, the state legislature has the age of consent set at sixteen for most cases.
A "yes" vote would delete the section from the Constitution and let the state legislature set the age of consent.
A "no" vote would leave the section of the Constitution in place.
Amendment 2
Must Section 16, Article X of the Constitution of this State relating to benefits and funding of public employee pension plans in this State and the investments allowed for funds of the various state-operated retirement syste ms be amended so as to provide that the funds of any trust fund established by law for the funding of post-employment benefits for state employees and public school teachers may be invested and reinvested in equity securities subject to the same limitati ons on such investments applicable for the funds of the various state-operated retirement systems?
Yes []
No []
Explanation of Above:
"Post-employment benefits" are benefits, mainly health insurance, provided to eligible state government an d school district retirees.
To comply with a change in accounting standards, the state has created trust funds to pay for these post-employment benefits. This amendment relates to how the money in these trust funds may be invested.
A "yes" vote w ould give the state government the option to invest these funds in equity securities (stocks).
A "no" vote would mean that state government is not allowed to invest these funds in any kind of equity securities (stocks).
Amendment 3
Must Secti on 16, Article X of the Constitution of this State relating to benefits and funding of public employee pension plans in this State and the investments allowed for funds of the various state-operated retirement systems be amended so as to provide that the funds of any political subdivision of this State that have been set aside for the funding of post-employment benefits for the political subdivision's employees, including those invested in independent trusts established for that purpose, may be invested or reinvested in equity securities of the type permitted for investment by the various state operated retirement systems, as provided for by the General Assembly?
Yes []
No []
Explanation of Above:
This amendment is the same as Amendment 2 except it applies to local governments' post-employment benefits (instead of the state government's post-employment benefits).
________________________________________
Thursday, October 2, 2008
Flip-Flop (10-2-08)
The Palmetto Scoop today published this headline: Barrett flip-flops on bailout bill. I read the article and it appears to me that Barrett found new information that readjusted his opinion. Yet the author chose to call it a flip-flop. Why? Is it that the author does not like Barrett for some reason? Is the author supporting a Barrett opponent for governor (Barrett is said to be in the 2010 race)? Why prejudice the readers before they even read the article? Just as in push polls, I call this push journalism. So I fired off the note below to the comments section of the blog.
.........
Let's forget the issue for a moment; rather, let's address the theme of this article: Flip-Flop. There seems to be something magic in political circles about sticking to a position, period. Supposedly shows strength, resolve, determination. To change means weakness, lack of intelligence and vision, not versed at all on the issues.
If you are a general going into battle, you generally have a battle plan. Suppose you reach the battle zone, get new intelligence from your scout teams, and find that your plan is not sufficient. What do you do? Stick with the plan anyhow? Or create a new plan of attack? The answer is not hard to see. Or you are a business person with 1 year and 5 year plans. Later you find out a competitor is beating you badly in the market place. Or you run into an economy as we have here? What do you do?
So you are a politician, elected to make decisions about everything from the economy to the latest atom smasher. can you know it all? Immediately? Later? Sometimes initial opinions, gut feelings, immediate reactions are not a complete answer, if any part of a solution. As someone delves into an issue, he may find new information that can reshape his opinion and plan of action.
Would I want an elected official that never changed his mind on an issue once he has made a pubic statement? ABSOLUTELY NOT! If his faculties are too weak to recognize need for an opinion change, or his ego far too large, I want him out. We, as everyday citizens, constantly change our opinions and judgments of situations depending on what new and changing information we acquire. As businessmen, we do the same. Why, then, should a politician not change his opinion if he discovers new compelling information?
A politician that will not change (or flip-flop, as the media and opponents label it) in the face of compelling information is a dangerous politician indeed.
Now, back to the issue at hand........
.........
Let's forget the issue for a moment; rather, let's address the theme of this article: Flip-Flop. There seems to be something magic in political circles about sticking to a position, period. Supposedly shows strength, resolve, determination. To change means weakness, lack of intelligence and vision, not versed at all on the issues.
If you are a general going into battle, you generally have a battle plan. Suppose you reach the battle zone, get new intelligence from your scout teams, and find that your plan is not sufficient. What do you do? Stick with the plan anyhow? Or create a new plan of attack? The answer is not hard to see. Or you are a business person with 1 year and 5 year plans. Later you find out a competitor is beating you badly in the market place. Or you run into an economy as we have here? What do you do?
So you are a politician, elected to make decisions about everything from the economy to the latest atom smasher. can you know it all? Immediately? Later? Sometimes initial opinions, gut feelings, immediate reactions are not a complete answer, if any part of a solution. As someone delves into an issue, he may find new information that can reshape his opinion and plan of action.
Would I want an elected official that never changed his mind on an issue once he has made a pubic statement? ABSOLUTELY NOT! If his faculties are too weak to recognize need for an opinion change, or his ego far too large, I want him out. We, as everyday citizens, constantly change our opinions and judgments of situations depending on what new and changing information we acquire. As businessmen, we do the same. Why, then, should a politician not change his opinion if he discovers new compelling information?
A politician that will not change (or flip-flop, as the media and opponents label it) in the face of compelling information is a dangerous politician indeed.
Now, back to the issue at hand........
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