Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.
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Wanna buy a city hall? A library? A golf course? A cemetery? How about a fire station?
Pontiac was once home to GM's Pontiac/GMCTruck&Coach Division. Its Silverdome hosted Super Bowl XVI in 1982 - and Elvis made one of his last LIVE appearances at "the Dome".
Damn sad. The perfect example of what's gone wrong, not just in Pontiac. Governments at all levels are being starved of taxes to be able to run what government has a responsibility to run and operate and maintain. Back in the '80s or '90s, NZ went on a privatization rampage. It was a disaster. That is essentially what they want to do in Pontiac: relieve government from doing government's job, because government hasn't the money for it anymore.
Hi Max, "Damn sad. The perfect example of what's gone wrong, not just in Pontiac. Governments at all levels are being starved of taxes to be able to run what government has a responsibility to run and operate and maintain. Back in the '80s or '90s, NZ went on a privatization rampage. It was a disaster. That is essentially what they want to do in Pontiac: relieve government from doing government's job, because government hasn't the money for it anymore."
Yes, it is sad. Aside from the responsibilites; is the obvious of "ability"; of not being able to perform much of anything when the tax base goes away. The continued delevering. This was noted back in early 2009 at FA; that all of this was coming to many communities. Reductions in many services will continue from police/fire protection to fixing the holes in the streets. The real crunch for the citizen is the loss of the services; and for the governments in some states/communities the legal or otherwise ability to increase taxes to offset the business and property tax loses. Any increased tax burden on the citizens will be monies that will not be spent into the economy. A big and nasty spiral of the "nasties". One recent story about a city 1 hour drive north of Pontiac; is that its current budget consists of 41% of monies going to pensions/health care and related. Not that this is wrong from the perspective of the past and the good old days; but is indeed just the "reality bites" and this is the new set of rules for the game. These continue and will continue to be the greater areas of concern in the public and private sectors relating to the "unwind" that will take some tiime going forward to find any type of stability. This applies to this country, Japan and most of the social system governments in Europe. The real "catch22's" are here and now.
ADDED NOTE: Mi law, in regards to a city being placed under a "state manager scenario" places a few of these circumstances: all contracts with the city are null and void.....meaning union contracts and related are dissolved; any and all remaining elected officials (mayor, city council, etc) may be removed; with those remaining possibly having title only and without pay or any benefits left in place. This has been and is in place in several MI cities. The most sad part perhaps is that officials elected by the citizens no longer represent the citizens; as the powers of the officials is removed.
Legend has it the Chief was buried on Apple Island in nearby Orchard Lake. Linked article on Apple Island might be of interest.
Having known area well during the 70s and 80s, it's sad. Heck, living in nearby Waterford, sometimes walked to the Pontiac Post Office. Can recall the pride everybody felt when the Dome went up in the 70s.
Pontiac is hub for a large metropolis of surrounding communities like Waterford, Bloomfield Hills, Commerce, Union Lake, Rochester, and Clarkston. So, this really affects a great many people - once part of a thriving American "middle class".
Comments
"Damn sad. The perfect example of what's gone wrong, not just in Pontiac. Governments at all levels are being starved of taxes to be able to run what government has a responsibility to run and operate and maintain. Back in the '80s or '90s, NZ went on a privatization rampage. It was a disaster. That is essentially what they want to do in Pontiac: relieve government from doing government's job, because government hasn't the money for it anymore."
Yes, it is sad. Aside from the responsibilites; is the obvious of "ability"; of not being able to perform much of anything when the tax base goes away. The continued delevering. This was noted back in early 2009 at FA; that all of this was coming to many communities. Reductions in many services will continue from police/fire protection to fixing the holes in the streets. The real crunch for the citizen is the loss of the services; and for the governments in some states/communities the legal or otherwise ability to increase taxes to offset the business and property tax loses. Any increased tax burden on the citizens will be monies that will not be spent into the economy. A big and nasty spiral of the "nasties".
One recent story about a city 1 hour drive north of Pontiac; is that its current budget consists of 41% of monies going to pensions/health care and related. Not that this is wrong from the perspective of the past and the good old days; but is indeed just the "reality bites" and this is the new set of rules for the game.
These continue and will continue to be the greater areas of concern in the public and private sectors relating to the "unwind" that will take some tiime going forward to find any type of stability. This applies to this country, Japan and most of the social system governments in Europe. The real "catch22's" are here and now.
ADDED NOTE: Mi law, in regards to a city being placed under a "state manager scenario" places a few of these circumstances: all contracts with the city are null and void.....meaning union contracts and related are dissolved; any and all remaining elected officials (mayor, city council, etc) may be removed; with those remaining possibly having title only and without pay or any benefits left in place. This has been and is in place in several MI cities. The most sad part perhaps is that officials elected by the citizens no longer represent the citizens; as the powers of the officials is removed.
My inflation adjusted 2 cents worth.
Regards,
Catch
http://en.wikipedia.org/wiki/Chief_Pontiac
Having known area well during the 70s and 80s, it's sad. Heck, living in nearby Waterford, sometimes walked to the Pontiac Post Office. Can recall the pride everybody felt when the Dome went up in the 70s.
Pontiac is hub for a large metropolis of surrounding communities like Waterford, Bloomfield Hills, Commerce, Union Lake, Rochester, and Clarkston. So, this really affects a great many people - once part of a thriving American "middle class".
http://en.wikipedia.org/wiki/Apple_Island_ (click "Michigan" link at site)