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(03-08-2013 12:11 PM)Charm City Bronco Wrote:  

(03-08-2013 10:49 AM)chipfan Wrote:  I had to go back and check the title of the thread. For a moment I thought you were talking about the Tea Baggers in Congress.

What do nutjobs in Congress have to do with Detroit's fiscal issues?

Are you saying Maxine Waters is a nutjob? Jessie Jackson Jr. sure, he's been officially certified, but Waters, I don't know, she teeters on it for sure. Maybe in a class with Pelosie, just really dumb.

Great appointee!!! He had tax leins against him. WOW.

Having worked in consulting firms that specialized in restructuring Chapter 11 cases, I can say from JUST THIS detail, that this guy isn't the type of character you want restructuring a large city government through this tough roadmap that faces him.

Quote:Orr, a partner in the Cleveland-based law firm of Jones Day who represented Chrysler during its successful restructuring, was appointed Detroit's financial manager by Michigan Gov. Rick Snyder on Thursday.

Orr said Friday he didn't know anything about the liens when shown the records by the News. On Saturday, the Washington, D.C., bankruptcy attorney said he now is paid up on state liens.

"It's on me — it's something that fell through the cracks," Orr told the Detroit Free Press.

Orr, 54, apologized for the oversight, saying he always tries to be attentive to such matters and wasn't aware of the liens until he was notified about them on Friday.

"It's remarkably embarrassing," Orr said. "I called and paid it up Friday. I wanted to make sure I addressed it as soon as I could."

The denizens of Detroit should be able to relate to him very well.

May be next mayor.

Nice job of vetting, Governerd Snyder and co.

(03-16-2013 04:44 PM)MajorHoople Wrote:  The denizens of Detroit should be able to relate to him very well.

May be next mayor.

Nice job of vetting, Governerd Snyder and co.

So where were you when Obama picked "tax cheat" Tim Guitner?

(03-16-2013 05:23 PM)Chipdip Wrote:  

(03-16-2013 04:44 PM)MajorHoople Wrote:  The denizens of Detroit should be able to relate to him very well.

May be next mayor.

Nice job of vetting, Governerd Snyder and co.

So where were you when Obama picked "tax cheat" Tim Guitner?

Working to make up for the money Snyder and state legislature took out of my pension and wife's salary.

Im a little perplexed on the pension thing.

8 years ago when I negotiated contracts the accountant for the district told me our pension fund was in great shape, fully funded and sound for years to come.

Last year he told me there were more people retiring, and fewer people paying in, hence the need for additional contributions from teachers. When he told me that I immediately thought, ponzie scheme. Our pensions aren't being paid out of invested funds but rather immediate collections.

Furthermore, it's not like MI is a paying a huge contribution to teachers. In Ohio if you teach 30 years you receive almost 77% of your highest paid three years. In MI it's closer to 30%.

But the MEA is no better. They rape us for a grand a year in dues and then tell us we have no rights anymore. If they have no influence in Lansing then perhaps teachers should shop around for another union. Im sure the UAW would love to add us to the ranks.

You're not "preplexed," you're being disingenous if not downright snarky.

You as well as anyone know what I'm talking about.

A year before I retire state says there will be no ERI for teachers.

So I get out because I am ready, see the direction public education is going, don't see an incentive coming, and believe we can get by comfortably until SS.

A year later Snyder starts taxing state retirees of an age and the legislature (unconstitutionally) starts taking 3% out of employees' (including my wife) salary for retirement.

And this year BCBSM raises our health premiums by 50%.

(03-16-2013 05:23 PM)Chipdip Wrote:  

(03-16-2013 04:44 PM)MajorHoople Wrote:  The denizens of Detroit should be able to relate to him very well.

May be next mayor.

Nice job of vetting, Governerd Snyder and co.

So where were you when Obama picked "tax cheat" Tim Guitner?

Nice deflection, and you howled loudest about that.

(03-16-2013 07:09 PM)DesertBronco Wrote:  

(03-16-2013 05:23 PM)Chipdip Wrote:  

(03-16-2013 04:44 PM)MajorHoople Wrote:  The denizens of Detroit should be able to relate to him very well.

May be next mayor.

Nice job of vetting, Governerd Snyder and co.

So where were you when Obama picked "tax cheat" Tim Guitner?

Nice deflection, and you howled loudest about that.

I see no difference in either one. They both cheated on their taxes and it came out after getting an appointment. Neither should get a free pass, but it seems with libs that Gietner gets the free pass, the Snyder appointee doesn't.

He didn't cheat on his taxes!!!

You didn't even read the article you stooge. Not even close.

(03-16-2013 05:57 PM)Chipdip Wrote:  Im a little perplexed on the pension thing.

8 years ago when I negotiated contracts the accountant for the district told me our pension fund was in great shape, fully funded and sound for years to come.

Last year he told me there were more people retiring, and fewer people paying in, hence the need for additional contributions from teachers. When he told me that I immediately thought, ponzie scheme. Our pensions aren't being paid out of invested funds but rather immediate collections.

Furthermore, it's not like MI is a paying a huge contribution to teachers. In Ohio if you teach 30 years you receive almost 77% of your highest paid three years. In MI it's closer to 30%.

But the MEA is no better. They rape us for a grand a year in dues and then tell us we have no rights anymore. If they have no influence in Lansing then perhaps teachers should shop around for another union. Im sure the UAW would love to add us to the ranks.

Dip - in Ohio, if you retire with 30 years it's 67%. Still way better than 30%. Coming soon - 35 years to get the 67%. I suspect the years may go to 40 at some point...........

Ohio is figuring out that if you let someone retire at 52 years old and pay them retirement for almost as long as you paid them to work, the numbers just don't work out.

Pension fUnds are invested. In the Engler years the fund was fatter than needed to met the actuarial need. The geniuses transferred a vast sum, 500 million if I rememBer correctly to the general fund.

In the 2008-9 crisis the market dived. The State conveniently forgot the Engler transfer and simply raised the contribution rate to the school districts who of course passed on the pain to the teachers.

Now, the markets have nearly doubled, and the pension fund is looking pretty good. Do you think they will now sweeten the pot for teachers? I wouldn't hold my breath.It is a big scam and a shell game.

I thought it was raided at one time. Thanks.