IS IT TRUE? PART 2 April 22, 2011


IS IT TRUE? PART 2 April 22, 2011

IS IT TRUE that CCO “MOLE # 3” has announced this evening this he shall retire after this coming November-2011 City Election? ….that he feels that his mission of exposing self serving political types is complete? ….that starting in November that the CCO shall announce a new super hero to replace him? ….that CCO “MOLE # 3” and the other “143 CCO MOLES” have served the citizens well? ….”when people fear its government there is tyranny and when government fear the people there is liberty”? …..we are glad that CCO “MOLE # 3″ has help make government fear the people”? …..THE ANSWER IS “YES”!

IS IT TRUE that silver has risen to $46 an ounce that gold has topped the $1,500 level?…that just this week that Standard and Poor’s took an action that is most likely a precursor to a downgrade of the debt of the United States?…that the rise in pricing of precious metals is not driven by speculation as it was in 1980?…that the rush of money to hard cross border currencies such as gold, silver, platinum, and palladium is happening because people do not have a strong feeling about their own governments fiscal policies?…that as long as the debt to income ratio of the United States government continues to rise that the prices of portable precious metals will rise with it?…that only prosperous countries can afford to have fiscal policies that run perpetual deficits?…that for the first time in many years the United States has crossed the chasm from being a solidly prosperous country to being a cautious country?…that hopefully our political leaders but more important our future political leaders will learn something about cause and effect from this period of economic malaise?

IS IT TRUE that we wonder just how much business that the army of construction workers in downtown Evansville working on the Arena have brought to downtown merchants and restaurants?…that we are interested in whether or not this $128 Million expenditure has enriched certain business owners in downtown Evansville?…that we are also interested just how long the Arena needs to operate to make up for the daily traffic from 600+ (advertised number) hungry and thirsty construction workers?

IS IT TRUE that it has been revealed that the Kunkel Group paid $2.9 Million for the old Whirlpool building on 41 North?…that given the size of the building that the purchase price works out to $2.42 per square foot?…that $2.42 per square foot will not even pay for half the cost to pour a concrete pad on which to build a yard barn?…that the cost to build such a structure for warehouse purposes would be closer to $40 per square foot or nearly $50 Million?…that a decent cardboard box costs more than $2.42 per square foot?

IS IT TRUE that the current assessment (before Kunkel purchased) on the Whirlpool Building is $10,700,000 and that the taxes are $291,163?…that the taxes on this building on the new mandated market value assessment cannot exceed 3% of the assessed value or $87,000 per year?…that the property tax collections on this Whirlpool property given the new market value of $2.9 Million will reduce the property tax revenue collected by a total of $204,163 or 70% of the previous total tax?…that this is a hard lesson on how hard property devaluation is on local government finance?…that the way out of this shortfall and the others that will surely come home to roost in the near future is to create a growing population and business base?…that this is the tip of the iceberg when it comes to the confluence of falling property values and abandonment of property in a world where property tax caps create upper limits on taxation?

IS IT TRUE that for the Whirlpool building to become a breakeven proposition for taxes into the local government that it will have to appreciate by 269%?…that at historical appreciation rates in Evansville, IN of 2% per year that this will take 66 years for this to happen?…that the life of this building is not 66 years?…that examples like this just accentuate the need for professional jobs, and educated populace, and a growing population base?…that the Kunkel Group took a risk and MAY have gotten a good deal but that they MAY have just purchased a “PIG IN A POKE”?…that we hope that Kunkel brings prosperity back to that big empty building and that Evansville begins and IAO Decade in business soon?


    • Nice movie out about you Dagny. Mole #3 retiring in November. JW hanging on till Jan 1, 2012.

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