We oppose the Parks Bonds. $66 million in Bonds would create a $128 million debt with a $62 million interest cost over 30 years. Our annual city revenue is $21 million. Parks can be improved over time and within budget for half the cost.. Half the money we use to pay off bonds is wasted on interest and fees. We would be spending this on low use, expensive public parks and venues. Not smart.
We oppose the Redevelopment Referendum. This would allow the city council to appoint unelected, unaccountable Tax Authorizing Districts (TADs), with unrestricted Eminent Domain powers over private property and authority to issue bonds without voter approval. We don’t have long-term blighted areas and should let property owners sell their own property without tax-payer bail-outs. TAD projects create boondoggles
We oppose the E-SPLOST, This is a 1 cent, five year sales tax extension for DeKalb schools. The passage of the tax triggers Bonds and bonds cost double. Debt service payments of principle and interest on these bonds is $91.63 million for 2012. These borrowed funds pay for building maintenance, renovation, construction and equipment. The tax will generate $475 million. Their annual budget is $774.6 million for 2012. These folks build magnificent buildings, but the student performance continues to be poor in most of the county. Less political indoctrination and more reading, writing and math would be nice. It’s time to stop wasting money on bond interest and fees.
Norb Leahy Dunwoody GA Tea Party
Wednesday, October 19, 2011
Tuesday, October 18, 2011
Park Bonds - Follow the Money
The $66 million for Park Bonds doesn’t just put the $62 million in interest costs in the paper shredder, the fees paid to the bond broker and real estate agent would total $3.3 million. The total debt for both bonds would be $128 million in principle and interest paid over 30 years. The $62 million in interest assumes that bond interest would cost 5% of the unpaid balance. We think the bonds will be front-loaded in 2012, before interest rates rise.
Bond Supporters
Obviously the majority of the current sitting City Council members and city staff support the Park Bonds. A yes vote raises our property taxes by .75 Mils for each Bond. The 1.5 Mil hike in our property tax would cover the $4.3 million debt service, so instead of having $21 million in revenue, we would have $25 million in revenue. So, lets see where the money goes:
The bond broker, I’m told, gets 2% of the bond value or $1.32 million. The land sellers support the Park Bonds and the real estate agents get 6% commissions. If we buy $33 million in land and pay a 6% real estate fee, this would be $1.98 million. Transaction costs to by the hospital site for $6.1 million could be $366 thousand. Contractors support the Park Bonds because they need the work now and of the bonds pass, most of the work would go on the front end. Future Bond holders will want their $62 million in interest. The total amount going into the paper shredder is $65.32 million.
The Preservation Trust gets $5.8 million; $2.9 million to renovate Donaldson Farm $2.9 million for the Cultural Arts Center and The Stage Door Players. The Nature Center gets $3.3 million to build a new building, dismantle the ball fields and add other upgrades. That leaves the Senior Baseball League 3 ball fields. Without the baseball fields that’s $9.1 million.
The boards of these non-profit 501C3 Trusts are unanimously in favor of the Park Bonds, because they believe new facilities will attract more patrons to these venues. The PCID wants Perimeter Park and more parks later. Many Dunwoody leaders support the Park Bonds and few have voiced any objections. Dan Weber and his co-presenters defend the Park Bonds when questioned.
Brook Run gets $15 million to move the dog park (we don’t know where) and upgrade facilities. Windwood Hollow gets $1.9 million for upgrades. Perimeter Park gets 1.5 million to be established. Georgetown Park gets $4 million to be established. That’s $22.4 million.
The Plan
Bond interest and fees will eat up $65.32 million. We pay double for the privilege of doing this fast and when government spends in big lumps they overpay for everything. Of the other $66 million, low use non-profit venues get $9.1 million to move, rebuild and renovate. Add the $9.1 million for the non-profits to the 22.4 million for parks, you get $31.5 million for park and venue improvements, then you need to add the new senior league ball field location . The ball fields could to go to the PVC Farm and we’re over budget. On the land side $6.1 million goes to buy the hospital, but there are no funds left to do anything with it. It sounds like the other $27 million for land would probably be used to purchase blighted areas with no funds to fix them up. Now that’s a really expensive seat-of-your-pants kind of plan I can vote NO for !
Economic Development
The PCID, Chamber of Commerce and City Council are busy trying to keep our businesses here and are working to being new business to occupy our commercial and office empty space. The PCID and City Council believe having more, well outfitted parks will help. We appreciate their work, but we think businesses will come and go for different reasons. We think fixing our main roads and intersections would impress prospective companies looking to relocate.
Redevelopment Referendum
Beware the Redevelopment Referendum. It transfers your authority to the City Council to establish Tax Authorizing Distracts (TADs) like Atlanta has for the Beltline and other projects. These TADs are unelected and can authorize Bond sales without a citizen vote. They also have Eminent Domain powers way beyond widening roads. This was added to the ballot, but reading it on the ballot doesn’t tell you what it means. We think the current city council would use Parks Bond funds to buy distressed properties and use TADs to develop more parks tied to commercial property. We urge a No vote on this one.
The Vote No folks
We think we need to replace the roads that won’t hold a patch, because the beds for these roads are rotten. We believe the main roads and intersections need to be fixed up and expanded to 3 lanes in some sections to expedite left turns. We are on these roads all the time. We want our sewers maintained and repaired as necessary.
We think the double cost of Bonds makes them a really bad deal for taxpayers. We think parks are not important enough to go into that much debt; they are a want, not a need. We believe land prices will likely stay the same or decline. We don’t think the City should buy more land for parks now. We believe our economy will not improve for several years. We don’t want the City to go into debt…ever. We want the City to improve the parks with simple maintenance, grass seed and modest incremental improvements.
We think our parks and venues are underutilized and will continue to be underutilized even after they’re fixed up. We don’t want a patchwork of parks; all we really need is one and Brook Run is the only one big enough.
We’ve never been to the Spruill Center and we don’t go much to the Nature center. We would probably go to the Donaldson Farm, once. We like to pass the Dunwoody Farmhouse, but not much goes on there. We don’t go to see the Stage Door Players or to the Library or to pottery or basket weaving classes.
We are content going to our subdivision swim and tennis clubs, Murphy Candler and Dunwoody Baptist for sports and our cul de sacs to play ball and ride bikes. We go to Azalea Drive and Morgan Falls for the river. We go to Roswell Park, Sandy Springs or Norcross for concerts. We go to the play area at North Point Mall and the Fun Place in Roswell when it rains.
Dunwoody Village
We wonder how Dunwoody Village got on the Parks Plan with no cost estimate. We doubt that the real owners are in a position to “re-do” Dunwoody Village in the middle of a recession. Tearing it out and rebuilding it would cost a fortune, yet it’s in the plan of a city that is doing everything it can to raise cash with bond debt.
Economic Assumptions
Not good. The federal government needs to cut spending at least $1 trillion a year. We have a lot of government employees in the Atlanta area. We expect another round of layoffs, foreclosures and lower property values…again….within the next 2 years. It’s not a good time for any city to go into debt. When global government debt hits the Debt Wall (no bond buyers, no more loans), the global economy will shrink by 40%. They longer they prop it up, the worse it will be. We are not far from the Debt Wall. That bubble burst will cause another round of layoffs, foreclosures and declining property tax.
Other Ballot Issues
We urge a NO vote on Parks Bonds and a NO vote on the Redevelopment Referendum and a NO vote the E-SPLOST, 1 cent sales tax renewal for DeKalb schools.
Norb Leahy, Dunwoody GA Tea Party Leader
Bond Supporters
Obviously the majority of the current sitting City Council members and city staff support the Park Bonds. A yes vote raises our property taxes by .75 Mils for each Bond. The 1.5 Mil hike in our property tax would cover the $4.3 million debt service, so instead of having $21 million in revenue, we would have $25 million in revenue. So, lets see where the money goes:
The bond broker, I’m told, gets 2% of the bond value or $1.32 million. The land sellers support the Park Bonds and the real estate agents get 6% commissions. If we buy $33 million in land and pay a 6% real estate fee, this would be $1.98 million. Transaction costs to by the hospital site for $6.1 million could be $366 thousand. Contractors support the Park Bonds because they need the work now and of the bonds pass, most of the work would go on the front end. Future Bond holders will want their $62 million in interest. The total amount going into the paper shredder is $65.32 million.
The Preservation Trust gets $5.8 million; $2.9 million to renovate Donaldson Farm $2.9 million for the Cultural Arts Center and The Stage Door Players. The Nature Center gets $3.3 million to build a new building, dismantle the ball fields and add other upgrades. That leaves the Senior Baseball League 3 ball fields. Without the baseball fields that’s $9.1 million.
The boards of these non-profit 501C3 Trusts are unanimously in favor of the Park Bonds, because they believe new facilities will attract more patrons to these venues. The PCID wants Perimeter Park and more parks later. Many Dunwoody leaders support the Park Bonds and few have voiced any objections. Dan Weber and his co-presenters defend the Park Bonds when questioned.
Brook Run gets $15 million to move the dog park (we don’t know where) and upgrade facilities. Windwood Hollow gets $1.9 million for upgrades. Perimeter Park gets 1.5 million to be established. Georgetown Park gets $4 million to be established. That’s $22.4 million.
The Plan
Bond interest and fees will eat up $65.32 million. We pay double for the privilege of doing this fast and when government spends in big lumps they overpay for everything. Of the other $66 million, low use non-profit venues get $9.1 million to move, rebuild and renovate. Add the $9.1 million for the non-profits to the 22.4 million for parks, you get $31.5 million for park and venue improvements, then you need to add the new senior league ball field location . The ball fields could to go to the PVC Farm and we’re over budget. On the land side $6.1 million goes to buy the hospital, but there are no funds left to do anything with it. It sounds like the other $27 million for land would probably be used to purchase blighted areas with no funds to fix them up. Now that’s a really expensive seat-of-your-pants kind of plan I can vote NO for !
Economic Development
The PCID, Chamber of Commerce and City Council are busy trying to keep our businesses here and are working to being new business to occupy our commercial and office empty space. The PCID and City Council believe having more, well outfitted parks will help. We appreciate their work, but we think businesses will come and go for different reasons. We think fixing our main roads and intersections would impress prospective companies looking to relocate.
Redevelopment Referendum
Beware the Redevelopment Referendum. It transfers your authority to the City Council to establish Tax Authorizing Distracts (TADs) like Atlanta has for the Beltline and other projects. These TADs are unelected and can authorize Bond sales without a citizen vote. They also have Eminent Domain powers way beyond widening roads. This was added to the ballot, but reading it on the ballot doesn’t tell you what it means. We think the current city council would use Parks Bond funds to buy distressed properties and use TADs to develop more parks tied to commercial property. We urge a No vote on this one.
The Vote No folks
We think we need to replace the roads that won’t hold a patch, because the beds for these roads are rotten. We believe the main roads and intersections need to be fixed up and expanded to 3 lanes in some sections to expedite left turns. We are on these roads all the time. We want our sewers maintained and repaired as necessary.
We think the double cost of Bonds makes them a really bad deal for taxpayers. We think parks are not important enough to go into that much debt; they are a want, not a need. We believe land prices will likely stay the same or decline. We don’t think the City should buy more land for parks now. We believe our economy will not improve for several years. We don’t want the City to go into debt…ever. We want the City to improve the parks with simple maintenance, grass seed and modest incremental improvements.
We think our parks and venues are underutilized and will continue to be underutilized even after they’re fixed up. We don’t want a patchwork of parks; all we really need is one and Brook Run is the only one big enough.
We’ve never been to the Spruill Center and we don’t go much to the Nature center. We would probably go to the Donaldson Farm, once. We like to pass the Dunwoody Farmhouse, but not much goes on there. We don’t go to see the Stage Door Players or to the Library or to pottery or basket weaving classes.
We are content going to our subdivision swim and tennis clubs, Murphy Candler and Dunwoody Baptist for sports and our cul de sacs to play ball and ride bikes. We go to Azalea Drive and Morgan Falls for the river. We go to Roswell Park, Sandy Springs or Norcross for concerts. We go to the play area at North Point Mall and the Fun Place in Roswell when it rains.
Dunwoody Village
We wonder how Dunwoody Village got on the Parks Plan with no cost estimate. We doubt that the real owners are in a position to “re-do” Dunwoody Village in the middle of a recession. Tearing it out and rebuilding it would cost a fortune, yet it’s in the plan of a city that is doing everything it can to raise cash with bond debt.
Economic Assumptions
Not good. The federal government needs to cut spending at least $1 trillion a year. We have a lot of government employees in the Atlanta area. We expect another round of layoffs, foreclosures and lower property values…again….within the next 2 years. It’s not a good time for any city to go into debt. When global government debt hits the Debt Wall (no bond buyers, no more loans), the global economy will shrink by 40%. They longer they prop it up, the worse it will be. We are not far from the Debt Wall. That bubble burst will cause another round of layoffs, foreclosures and declining property tax.
Other Ballot Issues
We urge a NO vote on Parks Bonds and a NO vote on the Redevelopment Referendum and a NO vote the E-SPLOST, 1 cent sales tax renewal for DeKalb schools.
Norb Leahy, Dunwoody GA Tea Party Leader
Monday, October 10, 2011
Dunwoody Ballot Initiatives
The City of Dunwoody will elect a new Mayor and fill three City Council (at large) positions on November 8.
In addition, Dunwoody voters will decide whether or not to approve two $33 million, 30 year bonds, one to purchase land for parks and the other to fund park improvements.
Many voters will oppose these bonds, because passage of both bonds would result in a $128 million debt for a $20 million revenue city. Assuming interest is 5% on the unpaid balance, we opponents say the $62 million in debt interest would go into the paper shredder. We prefer improving existing parks over time and in budget. Others object to the Parks Plans current content or lack of specifics.
In a third ballot item, voters will decide whether or not to give the city council Redevelopment Powers. The language on the ballot is as follows:
City of Dunwoody Redevelopment Referendum
Should the act be approved authorizing the City of Dunwoody to exercise redevelopment powers authorized by the Redevelopment Powers Act, as it may be amended from time to time. (Vote Yes or No).
Unless voters do some homework on line, they will not know what this means. Normally, a city putting initiatives on a ballot will publish a detailed explanation, but in this case it has not.
Voters first need to look up the Georgia Redevelopment Powers Act on line to learn what these powers are. Then, it’s helpful to look up City of Atlanta Redevelopment agencies.
They will find that voting yes on this question authorizes the city council to establish Tax Authorizing Districts (TADs) to redevelop any property to raise that property’s taxable value.
These TADs will have expanded eminent Domain power beyond widening streets and the power to issue bonds to fund the development of these properties. Currently, the City of Dunwoody does not have this power and must go to the voters to authorize bond sales. Voters who wish to limit city debt expense would vote No.
The voters who will vote No on the Park Bonds would likely vote No on the Redevelopment Powers initiative.
Norb Leahy, Dunwoody Tea Party Leader
In addition, Dunwoody voters will decide whether or not to approve two $33 million, 30 year bonds, one to purchase land for parks and the other to fund park improvements.
Many voters will oppose these bonds, because passage of both bonds would result in a $128 million debt for a $20 million revenue city. Assuming interest is 5% on the unpaid balance, we opponents say the $62 million in debt interest would go into the paper shredder. We prefer improving existing parks over time and in budget. Others object to the Parks Plans current content or lack of specifics.
In a third ballot item, voters will decide whether or not to give the city council Redevelopment Powers. The language on the ballot is as follows:
City of Dunwoody Redevelopment Referendum
Should the act be approved authorizing the City of Dunwoody to exercise redevelopment powers authorized by the Redevelopment Powers Act, as it may be amended from time to time. (Vote Yes or No).
Unless voters do some homework on line, they will not know what this means. Normally, a city putting initiatives on a ballot will publish a detailed explanation, but in this case it has not.
Voters first need to look up the Georgia Redevelopment Powers Act on line to learn what these powers are. Then, it’s helpful to look up City of Atlanta Redevelopment agencies.
They will find that voting yes on this question authorizes the city council to establish Tax Authorizing Districts (TADs) to redevelop any property to raise that property’s taxable value.
These TADs will have expanded eminent Domain power beyond widening streets and the power to issue bonds to fund the development of these properties. Currently, the City of Dunwoody does not have this power and must go to the voters to authorize bond sales. Voters who wish to limit city debt expense would vote No.
The voters who will vote No on the Park Bonds would likely vote No on the Redevelopment Powers initiative.
Norb Leahy, Dunwoody Tea Party Leader
Saturday, October 8, 2011
Redevelopment Referendum Vote No
In addition to the Park Bonds, our November Ballot will include a Redevelopment Referendum vote. This allows City Council to authorize the creation of Tax Authorization Districts (TADs) without a citizen vote. The fact that this was put on the ballot prior to any explanation of what it is, is slimy. We urge you to vote NO.
Look up Georgia’s Redevelopment Powers Law Research Atlanta, GSU. Aysps.gsu.edu and Atlanta Tax Allocation Districts and Beltline Tax Allocation District and Campbellton Road Tax Allocation District.
These TADs are created to form and fund projects. TADs can issue Bonds and have Eminent Domain powers. They act independently. They are not elected or accountable. Their sole purpose is to find distressed properties, buy them, forcibly if necessary, and develop them into properties with higher tax value. They provide a city with perpetual redevelopment activities
The fact that TADs can issue Bonds, means they can create city debt without a vote. Bonds cost double because of interest cost and half the debt goes into the paper shredder. TADs have expensive staff working with developers and Bond lawyers and market makers to plan, borrow and implement these projects without a citizen vote.
Rather than trust development to free enterprise, where the investors and developers risk their own money, TADs allow for the City to hold the bag if the TAD plan fails. TADs set up a permanent bailout for developers. TADs allow the City to control all development through its TADs and Land Use Master Plan and Zoning.
TADs use hand picked panels of citizens (see useful idiots) to respond to leaded questions, using the Delphi Technique, so they can say the citizens wanted these changes. TAD projects can include boondoggles like the Beltline and commercial business districts like Campbellton Road.
Problems
TADs usurp property rights. When investors risk their own money to develop properties and locate businesses, we have free enterprise. Investors are much more careful with their businesses if they take the losses if it fails. Cities can now obtain the legal right to end free enterprise.
TAD projects turn into disasters. When TADs risk your money to develop properties, they tend to become expensive, low use properties, because those small groups involved make impractical decisions and consumers don’t support it. The HOV and Toll Lanes are good examples of small groups making government decisions that voters don’t support.
Eminent Domain should not be expanded beyond making room for roads and highways. Expanding it to let an unelected group take your property for commercial purposes, to increase the tax value of your property is not where we need to go. TADs violate private property rights to build something else on what was your land, so they can get higher tax revenue. Most citizens cannot afford the legal bills to defend themselves from this abuse. TADs form to attack specific projects using “public private partnerships”. This is a scam..
All decisions to assume debt should be reserved to citizens, voting at the ballot box. Nor an unelected group authorized by a City Council. TADs can borrow money on their own and when a project fails the city is left holding the bag. It is a sleazy, wrong-headed, back door path to city debt and citizen abuse It involves private developers and the city’s economic development group picking projects and borrowing money with full authority and no transparency. The Dunwoody City Council may have slipped the TAD vote on the Ballot in case the Park Bonds fail to pass.
We urge a NO vote on this sleazy, risky “Economic Development” scam. If developers want to develop something, they can go see their banker. Developers now can contact property owners to ask if they would sell their property. Owners are free to say yes or no and that’s the way it should be.
This is how we ended up with $16 billion Toll Lanes that are too confusing and dangerous to use. This was approved by ARC without our approval. A private company “partnered” with ARC, a nonelected tax authorizing appointed commission. TADs create boondoggles. Toll Lanes are a scam.
Tax Authorizing Districts in Atlanta
Atlanta has established several TADs. They are: Atlantic Station, BeltLine, Campbellton Road, Eastside, Hollowell/ML King, Metropolitan Parkway,Perry-Bolton, Princeton Lakes, Stadium Area, Westside
Redevelopment Powers Act passed by the Georgia Legislature allows cities to ask the voters if they can create these TADs. TADs are a bad idea whose job is to look for and spend your money on other bad ideas.
To quote a wise friend: “We are too young a city and do not have enough badly decayed areas to warrant a TAD. The ones we have are small and the free market should be able to handle them.”
Norb Leahy, Dunwoody GA Tea Party Leader
Look up Georgia’s Redevelopment Powers Law Research Atlanta, GSU. Aysps.gsu.edu and Atlanta Tax Allocation Districts and Beltline Tax Allocation District and Campbellton Road Tax Allocation District.
These TADs are created to form and fund projects. TADs can issue Bonds and have Eminent Domain powers. They act independently. They are not elected or accountable. Their sole purpose is to find distressed properties, buy them, forcibly if necessary, and develop them into properties with higher tax value. They provide a city with perpetual redevelopment activities
The fact that TADs can issue Bonds, means they can create city debt without a vote. Bonds cost double because of interest cost and half the debt goes into the paper shredder. TADs have expensive staff working with developers and Bond lawyers and market makers to plan, borrow and implement these projects without a citizen vote.
Rather than trust development to free enterprise, where the investors and developers risk their own money, TADs allow for the City to hold the bag if the TAD plan fails. TADs set up a permanent bailout for developers. TADs allow the City to control all development through its TADs and Land Use Master Plan and Zoning.
TADs use hand picked panels of citizens (see useful idiots) to respond to leaded questions, using the Delphi Technique, so they can say the citizens wanted these changes. TAD projects can include boondoggles like the Beltline and commercial business districts like Campbellton Road.
Problems
TADs usurp property rights. When investors risk their own money to develop properties and locate businesses, we have free enterprise. Investors are much more careful with their businesses if they take the losses if it fails. Cities can now obtain the legal right to end free enterprise.
TAD projects turn into disasters. When TADs risk your money to develop properties, they tend to become expensive, low use properties, because those small groups involved make impractical decisions and consumers don’t support it. The HOV and Toll Lanes are good examples of small groups making government decisions that voters don’t support.
Eminent Domain should not be expanded beyond making room for roads and highways. Expanding it to let an unelected group take your property for commercial purposes, to increase the tax value of your property is not where we need to go. TADs violate private property rights to build something else on what was your land, so they can get higher tax revenue. Most citizens cannot afford the legal bills to defend themselves from this abuse. TADs form to attack specific projects using “public private partnerships”. This is a scam..
All decisions to assume debt should be reserved to citizens, voting at the ballot box. Nor an unelected group authorized by a City Council. TADs can borrow money on their own and when a project fails the city is left holding the bag. It is a sleazy, wrong-headed, back door path to city debt and citizen abuse It involves private developers and the city’s economic development group picking projects and borrowing money with full authority and no transparency. The Dunwoody City Council may have slipped the TAD vote on the Ballot in case the Park Bonds fail to pass.
We urge a NO vote on this sleazy, risky “Economic Development” scam. If developers want to develop something, they can go see their banker. Developers now can contact property owners to ask if they would sell their property. Owners are free to say yes or no and that’s the way it should be.
This is how we ended up with $16 billion Toll Lanes that are too confusing and dangerous to use. This was approved by ARC without our approval. A private company “partnered” with ARC, a nonelected tax authorizing appointed commission. TADs create boondoggles. Toll Lanes are a scam.
Tax Authorizing Districts in Atlanta
Atlanta has established several TADs. They are: Atlantic Station, BeltLine, Campbellton Road, Eastside, Hollowell/ML King, Metropolitan Parkway,Perry-Bolton, Princeton Lakes, Stadium Area, Westside
Redevelopment Powers Act passed by the Georgia Legislature allows cities to ask the voters if they can create these TADs. TADs are a bad idea whose job is to look for and spend your money on other bad ideas.
To quote a wise friend: “We are too young a city and do not have enough badly decayed areas to warrant a TAD. The ones we have are small and the free market should be able to handle them.”
Norb Leahy, Dunwoody GA Tea Party Leader
Friday, October 7, 2011
Jobs
Jobs are created when the demand for a company’s product or services is exceeding the company’s ability to supply the product or service.
Where jobs land depends on where companies wants to operate. When a company is open to location, where it finally decides to go can be influenced by lots of factors. One is the location of its vendors and customers. Another is taxes and the cost of land or rent and other factors affecting the cost of doing business. The availability of the kind of employees it wants to hire is another factor.
Manufacturers need to transport parts from vendors and products to customers. Companies tend to locate to low tax, right-to-work states.
All of these are usually either there are they’re not. If they exist in several locations, it is typical for the company to send representatives to get their own impressions. Savvy companies call on other companies already operating in that location to get answers to their questions . Over the years I got plenty of calls from these companies and I was happy to help them.
Did I mention government ? No I don’t think I did.
Where jobs land depends on where companies wants to operate. When a company is open to location, where it finally decides to go can be influenced by lots of factors. One is the location of its vendors and customers. Another is taxes and the cost of land or rent and other factors affecting the cost of doing business. The availability of the kind of employees it wants to hire is another factor.
Manufacturers need to transport parts from vendors and products to customers. Companies tend to locate to low tax, right-to-work states.
All of these are usually either there are they’re not. If they exist in several locations, it is typical for the company to send representatives to get their own impressions. Savvy companies call on other companies already operating in that location to get answers to their questions . Over the years I got plenty of calls from these companies and I was happy to help them.
Did I mention government ? No I don’t think I did.
Thursday, October 6, 2011
Park Bonds II - Interest Cost
Bonds
Voting yes for Park Bonds is like putting $62 million in a paper shredder.
Bonds are the dumbest way to finance non-emergency government projects. The debt service or interest on these bonds will be $4.3 million a year. 5% of the unpaid balance goes into the shredder. On a $62 million balance the first year interest charge is $3.1 million. The other $1.2 million is principle. Bonds are like a home mortgage, we take out a home mortgage because the entire cost of the house is paid at closing, when we buy it. Houses are a high cost, high use necessity, parks are a high cost, low use venue. Bond interest is a big part of government waste.
Parks
Parks require maintenance and police time. More parks, require more maintenance and police time. Parks are open for public use and are more vulnerable than subdivision swim and tennis clubs.
Parks Plan
Voting for the Bonds indicates that you approve the Parks Plan as it currently exists. If you still disagree with parts of the Parks Plan, you should vote no. In the current plan, the ball fields have been removed from Dunwoody Park, a $2 million unnecessary cost.
No Bond, Incremental Improvement
The advantage to incremental improvement of parks over time is that citizens would be able to continue to influence park modifications and the city can avoid making costly mistakes. Incremental projects are managed more closely, confirmed by users and implemented more carefully. The biggest advantage of paying for park improvements from general revenue over time is that with no Bonds to pay off, we will not be putting our $62 million interest in the paper shredder.
Norb Leahy, Dunwoody Ga Tea Party Leader
Voting yes for Park Bonds is like putting $62 million in a paper shredder.
Bonds are the dumbest way to finance non-emergency government projects. The debt service or interest on these bonds will be $4.3 million a year. 5% of the unpaid balance goes into the shredder. On a $62 million balance the first year interest charge is $3.1 million. The other $1.2 million is principle. Bonds are like a home mortgage, we take out a home mortgage because the entire cost of the house is paid at closing, when we buy it. Houses are a high cost, high use necessity, parks are a high cost, low use venue. Bond interest is a big part of government waste.
Parks
Parks require maintenance and police time. More parks, require more maintenance and police time. Parks are open for public use and are more vulnerable than subdivision swim and tennis clubs.
Parks Plan
Voting for the Bonds indicates that you approve the Parks Plan as it currently exists. If you still disagree with parts of the Parks Plan, you should vote no. In the current plan, the ball fields have been removed from Dunwoody Park, a $2 million unnecessary cost.
No Bond, Incremental Improvement
The advantage to incremental improvement of parks over time is that citizens would be able to continue to influence park modifications and the city can avoid making costly mistakes. Incremental projects are managed more closely, confirmed by users and implemented more carefully. The biggest advantage of paying for park improvements from general revenue over time is that with no Bonds to pay off, we will not be putting our $62 million interest in the paper shredder.
Norb Leahy, Dunwoody Ga Tea Party Leader
Sunday, October 2, 2011
The Turnip Plan
If you read The Chess Game and UN Agenda 21 – Roots, you are probably curious to know just how you could lose your benefits, assets and property. You can lose your house if you lose your job… that one’s easy. You can lose your Social Security and Medicare if the government runs out of cash. You can lose your retirement account if it’s confiscated by the government.
If a debtor has no money and nobody will lend him any, he can not pay anything to anybody (no blood in a turnip). So, what’s the plan ? Our Federal government is acting like it will never reduce spending or attempt to pay down its debt….ever. Buried in the Obama-care legislation is authorization for the Federal Government to seize your retirement accounts.
Democrats have loaded up the 10 year Whitehouse “budget” with an extra $1 trillion a year more than they’ve ever spent. They ignore questions about why we need to spend $1.6 trillion more than we take in. Democrats want their big expensive government. Republicans want to balance the budget to prevent The Turnip Plan.
Our largest banks are insolvent. Their balance sheets have as many liabilities (toxic mortgage-backed securities, etc.) as assets. Large defaults on loans will push them over the edge. Some hold investments in Greece, Spain, Ireland, Italy and the US.
Greek Default
If Greece defaults, the Greeks, banks and bond holders all take hits. The bond holders (banks) have agreed to take a 21% haircut on the value of their Greek bonds.
They may see to it that the creditors bail out the Greeks this one last time, but they will step in at that point and take over the Greek government. They will slash the expenses the elected officials were incapable of cutting and set up a shadow government. These will be Greeks, who report to the EU (or Germany). Greek sovereignty will be toast
They may trim pensions and benefits to citizens instead of eliminating them. What they do may be the prototype the rest of us can expect when our country goes into receivership.
EU Cascade
This could happen one country at a time, but might cascade faster. If it does, then a chain-reaction occurs. The same banks may hold loans and bonds from all of those countries. In a bankruptcy, all creditors are liable and a default in Greece would ignite liquidity crises in banks in other countries. The money these governments owe to the banks will come due as each of these countries default. They will do a “work-out” if they can, but if the amount of money required to do this with these 4 European countries is too much, the banks will stop lending new money. That’s their Debt Wall. The government can’t pay its employees or pensioners and their paychecks will stop. If they have any debts and can’t make the payments, their cars will be repossessed and their homes will be foreclosed.
US Debt Bubble Bursts
The US government will absolutely hold interest rates down as long as they can because of the impact higher borrowing costs would have on the debt service payments.
When the US hits its “Debt Wall” the same events would likely occur. But the US bond holders include the government of China, India, Japan and others. When other countries own the bonds, they might want a land deal. Imagine these countries owning that much US land. We could expect this work-out agreement would be made in secret and may have already been negotiated. It may involve the appointment of Trustees who would oversee the transition. its The Trustees would collect tax revenue and pay creditors. Tax revenues would fall with our economy. Heavy tax increases could be imposed.on what’s left of the economy.
A provisional government would run whatever functions the Trustees approved as necessary. These would probably include a large national police force tasked with keeping us under control, and moving us to relocation camps. The US dollar would be abandoned and become totally worthless (think Weimar Republic). Obviously you will lose your job, your Social Security, your Medicare, food stamps, housing subsidies and your bank account. Now…wasn’t that fast ?
The “Evil Empire Spooky Dudes” I mentioned in The Chess Game are selling their gold market and are raising cash to place their bets on defaults. They set this up and they will look to buy contracts betting on sovereign debt defaults they are certain will happen. Obama is doing his part by spending us into oblivion. You should stock up on drinking water and can goods now.
The Spooky Evil Dudes who caused all this would be the only ones with any money. They will collect their winnings from their sovereign default bets. They will buy gold when it bottoms..
The US Federal Reserve will keep these banks and foreign governments “liquid” with printed money from us. That works, because inflation is part of the volatility plan they have in store for us in the US to experience,.. serves us right…can we own Greece ?...No, Greece will belong to the (Spooky Dude EU guys).
We would hit our “Debt Wall”, if US bond holders sold their US Treasury Bonds and no one else would buy them. Ben Bernanke could buy Treasuries for the Fed balance sheet until somebody breaks his printing press.
Some committee of politicians we know, like Obama, could be appointed by the Trustees as the “provisional government”. They will not report to you. They will report to the Chinese, the Indians and The Bond Holders or to the “Spooky Evil Dudes” They might dictate the same reductions and cancellations and raise taxes to something like 50%.. There will be a shadow government (Spooky Dudes) the “provisional governments” reports to, They will be the only folks with any money. They will slash expenses and deport all Republicans. We will no longer be a Christian nation.
In the 1979 John Ritter movie “Americathon”, volunteers offered to hold a telethon to raise money for the government. That won’t happen here. We are on the path to “mutually assured destruction”.
We would rather cut $1.6 trillion from the Federal Budget by closing all but the four Cabinet Level Departments authorized by the Constitution..
We will wake up one morning to a special TV announcement that our government has been dissolved by its creditors and a “new” provisional government has taken its place – it’s the plan. Our economic demise will follow quickly.
Have a nice day !
If a debtor has no money and nobody will lend him any, he can not pay anything to anybody (no blood in a turnip). So, what’s the plan ? Our Federal government is acting like it will never reduce spending or attempt to pay down its debt….ever. Buried in the Obama-care legislation is authorization for the Federal Government to seize your retirement accounts.
Democrats have loaded up the 10 year Whitehouse “budget” with an extra $1 trillion a year more than they’ve ever spent. They ignore questions about why we need to spend $1.6 trillion more than we take in. Democrats want their big expensive government. Republicans want to balance the budget to prevent The Turnip Plan.
Our largest banks are insolvent. Their balance sheets have as many liabilities (toxic mortgage-backed securities, etc.) as assets. Large defaults on loans will push them over the edge. Some hold investments in Greece, Spain, Ireland, Italy and the US.
Greek Default
If Greece defaults, the Greeks, banks and bond holders all take hits. The bond holders (banks) have agreed to take a 21% haircut on the value of their Greek bonds.
They may see to it that the creditors bail out the Greeks this one last time, but they will step in at that point and take over the Greek government. They will slash the expenses the elected officials were incapable of cutting and set up a shadow government. These will be Greeks, who report to the EU (or Germany). Greek sovereignty will be toast
They may trim pensions and benefits to citizens instead of eliminating them. What they do may be the prototype the rest of us can expect when our country goes into receivership.
EU Cascade
This could happen one country at a time, but might cascade faster. If it does, then a chain-reaction occurs. The same banks may hold loans and bonds from all of those countries. In a bankruptcy, all creditors are liable and a default in Greece would ignite liquidity crises in banks in other countries. The money these governments owe to the banks will come due as each of these countries default. They will do a “work-out” if they can, but if the amount of money required to do this with these 4 European countries is too much, the banks will stop lending new money. That’s their Debt Wall. The government can’t pay its employees or pensioners and their paychecks will stop. If they have any debts and can’t make the payments, their cars will be repossessed and their homes will be foreclosed.
US Debt Bubble Bursts
The US government will absolutely hold interest rates down as long as they can because of the impact higher borrowing costs would have on the debt service payments.
When the US hits its “Debt Wall” the same events would likely occur. But the US bond holders include the government of China, India, Japan and others. When other countries own the bonds, they might want a land deal. Imagine these countries owning that much US land. We could expect this work-out agreement would be made in secret and may have already been negotiated. It may involve the appointment of Trustees who would oversee the transition. its The Trustees would collect tax revenue and pay creditors. Tax revenues would fall with our economy. Heavy tax increases could be imposed.on what’s left of the economy.
A provisional government would run whatever functions the Trustees approved as necessary. These would probably include a large national police force tasked with keeping us under control, and moving us to relocation camps. The US dollar would be abandoned and become totally worthless (think Weimar Republic). Obviously you will lose your job, your Social Security, your Medicare, food stamps, housing subsidies and your bank account. Now…wasn’t that fast ?
The “Evil Empire Spooky Dudes” I mentioned in The Chess Game are selling their gold market and are raising cash to place their bets on defaults. They set this up and they will look to buy contracts betting on sovereign debt defaults they are certain will happen. Obama is doing his part by spending us into oblivion. You should stock up on drinking water and can goods now.
The Spooky Evil Dudes who caused all this would be the only ones with any money. They will collect their winnings from their sovereign default bets. They will buy gold when it bottoms..
The US Federal Reserve will keep these banks and foreign governments “liquid” with printed money from us. That works, because inflation is part of the volatility plan they have in store for us in the US to experience,.. serves us right…can we own Greece ?...No, Greece will belong to the (Spooky Dude EU guys).
We would hit our “Debt Wall”, if US bond holders sold their US Treasury Bonds and no one else would buy them. Ben Bernanke could buy Treasuries for the Fed balance sheet until somebody breaks his printing press.
Some committee of politicians we know, like Obama, could be appointed by the Trustees as the “provisional government”. They will not report to you. They will report to the Chinese, the Indians and The Bond Holders or to the “Spooky Evil Dudes” They might dictate the same reductions and cancellations and raise taxes to something like 50%.. There will be a shadow government (Spooky Dudes) the “provisional governments” reports to, They will be the only folks with any money. They will slash expenses and deport all Republicans. We will no longer be a Christian nation.
In the 1979 John Ritter movie “Americathon”, volunteers offered to hold a telethon to raise money for the government. That won’t happen here. We are on the path to “mutually assured destruction”.
We would rather cut $1.6 trillion from the Federal Budget by closing all but the four Cabinet Level Departments authorized by the Constitution..
We will wake up one morning to a special TV announcement that our government has been dissolved by its creditors and a “new” provisional government has taken its place – it’s the plan. Our economic demise will follow quickly.
Have a nice day !
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