Jackson Jambalaya

This deal really smells. Fish - have you sent to Rick Hill asking for why it approved with flying colors?

called a few times. No one even answered.

He's only had his Series 7 since 2000 - about 9 years. Check the FINRA website.

Didn't say he didn't. I only wrote he held them.

Was talking about the "13 years" propaganda.

FINRA profile

Nothing there.

have to enter his name then. Robert A Smith Jr. its like page 5 or so of the results.

Wonder why the so called mainstream media hasnt tackled this?

Whoa! Doesn't the city realize what a MESS they are in with this? Geesh. Very little downside and who knows how much upside in interest rates?

Check your facts. George Smith is Dr. Smith's brother, but I think it is Dr. George Smith, also a doctor, not a supervisor.

They either don't understand it or don't care or are making someting on it outside of Simon and Weill.

My prediction is that this deal will not go through. Both Baker Donelson and Simon are advising the City not to proceed as structured. Evans is a dead duck with McLemore in charge.

How so?

council approved it. Melton signed K with Sterne. All Mac has to do is sign it and he seconded the motion to adopt the resolution.

Stopping these transactions is very important. Immediately afterwards with the new incoming administration has to come the policy discussion which, in my mind, is the bigger issue and the reason for the current pursuit of these esoteric debt instruments. Jackson can't keep refinancing bond debt indefinitely as a matter of policy. Perpetual delay and deferment of debt repayment while our decline in population and businesses accelerates is a sure-fire guarantee of future bankruptcy.

two things need to happen:

1. Adopt a rule opening these up for bids

2. establish a board like the zoning board. Allow each councilman to appoint two experts and specify what their qualifications have to be and also allow them to appoint from outside their district, you want expertise, not homers. Pay them if need be. Paying 50K a year to 7 guys or so is cheaper than a really bad bond deal that cost millions.

Good stuff here. One thing people may not know is that H Johnson was set to do a bond swap if reelected in '05. Of course, had he been able to do so, we really would be in a mess because of the market downturn that decimated other cities who did the same. There used to be a report online that spelled out how the Johnson administration planned to make up for a shortfall through increased fees (which Melton eventually did) and a bond swap.

Wish I could read it.

I'd actually like to go to the debate. Not that I expect anything but softballs, but, there's certainly a lot going on lately that COULD be done with the questions tonight.

Crisler needs to get a clue. When you vote to approve long term debt you are voting for future tax increases.