Home Blog Page 7079

IS IT TRUE? July 31, 2011

5

IS IT TRUE that a fleet of Atlas Van Lines have been spotted at the EVSC building?…that they are moving from their current administration building to their new $6+Mil no-bid contract offices about 150 yards away?…that stealthy no-bid operations are the exact opposite of transparent government?…that we hope our tax dollars are being managed wisely but we hope that the decision will be made according to form or within the spirit of the law?…that SNEGAL must have been the substitute superintendent on the day this decision was made?

IS IT TRUE that in a recent C&P article, Roberts Stadium is reported to bring in just over $3Mil per year in revenue? That after expenses, they incurred a loss of about $34k in 2010?…that in this same article, Jenny Collins predicted that the new Arena would bring in $3.5Mil per year?…that the operating expenses would also be $3.5Mil per year?…that she doesn’t have a clue what the expenses are going to be because the the City of Evansville has yet to sign a contract with an operator and has not booked a single act into the new Arena?…that preliminary estimates such as these tend to be optimistic for new projects?…that Roberts Stadium does not have a mortgage?…that we bet that the numbers that Ms. Collins is quoting do not include the bond payments?…that spending over $128Mil to replace one break-even venue with $3Mil revenue with another breakeven venue with $3.5Mil revenue is financially irresponsible at best?…that excluding the bond payments in your P/L calculations is just false accounting?…that we have a place in Evansville for people that know nothing about financial matters?…that we may be seeing Jenny Collins on the Evansville Redevelopment Commission soon with that kind of mathematical ability?

IS IT TRUE that the value of an entertainment venue cannot be measured solely by its balance sheet?…that the infusion of cash in food, lodging, and entertainment can make it worth the cost to keep a building in operation?…that organizations such as the Jehovah’s Witnesses bring millions of dollars to the city when they hold events here?…that we still do not know if they are interested in returning if Roberts is shut down?…that we do know that they are concerned with costs and are looking at other options?

IS IT TRUE that tomorrow (Monday, August 1st), is the deadline for the CCO’s Freedom of Information Act regarding the Arena PREMIUM seating sales?…that we should finally know what privileged few have contracts on these seats, and for what price?…that we will be publishing this information for the public to analyze?…that we bet that their are no contracts that have been signed and authorized by the ERC?…that we bet the same situation holds for the sponsorship?…that a un-named headline sponsor has reportedly been selected by an un-contracted VenuWorks for an ERC that has not authorized the deal?…that SNEGAL is still in charge down at the Civic Center?…that it will be quite interesting to see if this whole premium seating and sponsorship pre-announcement has been SNEGAL or just a bit of false hype?…that we are betting on SNEGAL?

**UPDATE**
IS IT TRUE that despite the vague approach to the new arena’s revenue estimates, Jenny Collins was essentially projecting that the Arena would draw LESS TRAFFIC than Robert’s actual numbers?…that when you factor in increased venue rental cost and increased ticket prices, the $3.5Mil Arena Projected revenue would equate to LESS BODIES than Roberts $3+Mil actual revenue?…that despite having a perfect opportunity to report very optimistic numbers, Jenny Collins (perhaps unintentionally) predicted that the brand new $128+Mil Arena WOULD DRAW LESS TRAFFIC THAN ROBERTS STADIUM ALREADY DOES?

Link to article: http://www.courierpress.com/news/2011/jul/30/cost-of-roberts/

EPD Activity Report: July 30, 2011

0


EPD Activity Report July 30, 2011

Could’a Been, Would’a Been, and Should’a Been

2

The Fruits of Local Governance that chooses Headlines over Reality

Excerpts from the 2007 Article Announcing the McCurdy Deal:

“The Redevelopment Commission is expected today to approve a development agreement with Indianapolis-based Kosene-Hilliard-Kosene, which, since 2003, has developed at least six major residential projects in Indianapolis. The agreement includes an incentive package potentially worth more than $1 million.”

“Mayor Jonathan Weinzapfel, who announced the McCurdy deal with Kosene officials, said it amounted to “the keystone of our residential efforts in Downtown Evansville.”

“Stephen Scott, Kosene president, said the firm selected Evansville because of strong city leadership and community leaders “who through the Redevelopment Commission have taken some steps already to revitalize the Downtown. Asked about possible completion of the project, Scott replied, “People will recognize the McCurdy as a new Downtown destination by the end of’ ’08.”

http://www.courierpress.com/news/2007/may/15/another-joint-deal-between-developer-and-city-gove/

IS IT TRUE? July 30, 2011

0


IS IT TRUE? July 30, 2011

IS IT TRUE that our graphical publication of the visualization of the debt of the United States had a high level of appeal not only to our loyal local readership but to those that some would call “foreigners” to the Republic of Evansville as well?…that the City County Observer attained a #4 Google ranking for the term KLEPTOCRACY that appeared in the URL of the site that we linked you to for the graphics?…that the term kleptocracy is a term that artfully blends the words kleptomania and democracy?…that in this narrative it was used to send the message that the government of the United States that is widely believed to be a democracy has a problem with the compulsion to steal?…that we are disturbed but not surprised that there is much appeal to this term but are always pleased to have front page recognition on Google?…that it is not the first time?…that we are #2 on Google for the term SNEGAL?

IS IT TRUE that democracy basically means majority rule?…that most people think that the United States of America is a democracy?…that could not be further from the truth?…that the United States is a REPUBLIC which is a nation of laws?…that the majority follow the law to support the rights of the one?…that when a small privileged group makes all decisions without regard for the rule of law or the will of the people that this form of governance is called an OLIGARCHY?…that if a local government partners with a GOOD OLD BOY network to control all of the important decisions through finding loopholes in the law to circumvent the intention of the law in the first place is a SNEGAL OLIGARCHY?…that some days and even some months or years when appointed boards ignore elected leaders and treat them with disrespect that Evansville seems like a SNEGAL OLIGARCHY?

IS IT TRUE that the long anticipated euthanization of Integra Bank finally happened yesterday?…that rumors seem to have been popping up every week or so for nearly a year that the FDIC was going to step in and perform the procedure?…that branch after branch and division after division have been divested of over the last couple of years to raise cash to hopefully save Integra but in the end the push to expand into markets that were not fully mastered took the Evansville legacy business to its knees?…that in a carefully worded press release that was long on asset assumption and short on references to stock that the assets and accounts of Integra will be making the two block move to Old National Bank?…that on first blush it seems good that the accounts will stay local?…that losing a big player in a decreasingly competitive market may not be the best long term solution for banking in Evansville?…that we are pleased that the deposits are safe and that they will be staying home?…that now if we can just get the local deposits managed into local loans that we shall all see the fruits of Dr. Kervorkian’s passion applied in the corporate world?

IS IT TRUE that driving from the San Jose airport to Stanford University, a 15 mile drive that one passes the world headquarters of Intel, Cisco Systems, Applied Materials, Google and hundreds of other technology leaders?…miles south in Cupertino is Apple and 10 miles north is Genentech?…that two miles west on Sand Hill Road is the largest cult of Venture Capital on the planet earth?…that it is 7:37 on a Saturday morning and already today more Venture Capital has been committed to new businesses that has been invested in Evansville, Indiana since it became a city?…that is why Intel, Google, et al are located in the San Jose area and not in the Midwest?…that having a world class research university does not hurt things either?

IS IT TRUE that the Silicon Valley is full of educated immigrants (some who came on EB-5 money), young professionals, and successful semi-retired 40+ aged people?…that the vitality level and the interest in business brings back old memories?…that there were at least 5 languages being spoken in last night’s restaurant?…that the topic was not youth sports, traffic jams on the Lloyd, or the church picnic?…that the topic is nearly always ideas, dreams, and business?…that most people and societies seem to get what they focus on?

IS IT TRUE that as much as Integra needed to be euthanized that Evansville needs to be YOUTHANIZED?…that Karen gets copyright dibs on the word YOUTHANIZE?

We are a Republic with Rule of Law: Here is Why

1

The Myth of Democracy is an Unsustainable form of Governance

Couldn’t think of a better song to describe this week in Evansville

1

Whoop there it is!

Integra Bank Closed by FDIC

2

http://www.fdic.gov/bank/individual/failed/integra.html Visit this URL to view the full FDIC Failed Bank Information regarding Integra Bank.

The following press release was published on the FDIC website 15 minutes ago:

FOR IMMEDIATE RELEASE
July 29, 2011

Integra Bank, National Association, Evansville, Indiana, was closed today by the Office of the Comptroller of the Currency, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Old National Bank, Evansville, Indiana, to assume all of the deposits of Integra Bank, National Association.

The 52 branches of Integra Bank, National Association will reopen during their normal business hours beginning Saturday as branches of Old National Bank. Depositors of Integra Bank, National Association will automatically become depositors of Old National Bank. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship in order to retain their deposit insurance coverage up to applicable limits. Customers of Integra Bank, National Association should continue to use their existing branch until they receive notice from Old National Bank that it has completed systems changes to allow other Old National Bank branches to process their accounts as well.

This evening and over the weekend, depositors of Integra Bank, National Association can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.

As of March 31, 2011, Integra Bank, National Association had approximately $2.2 billion in total assets and $1.9 billion in total deposits. Old National Bank will pay the FDIC a premium of 1.0 percent to assume all of the deposits of Integra Bank, National Association. In addition to assuming all of the deposits of the failed bank, Old National Bank agreed to purchase essentially all of the assets.

The FDIC and Old National Bank entered into a loss-share transaction on $1.2 billion of Integra Bank, National Association’s assets. Old National Bank will share in the losses on the asset pools covered under the loss-share agreement. The loss-share transaction is projected to maximize returns on the assets covered by keeping them in the private sector. The transaction also is expected to minimize disruptions for loan customers. For more information on loss share, please visit: http://www.fdic.gov/bank/individual/failed/lossshare/index.html.

Customers with questions about today’s transaction should call the FDIC toll-free at 1-800-830-6698. The phone number will be operational this evening until 9:00 p.m., Eastern Daylight Time (EDT); on Saturday from 9:00 a.m. to 6:00 p.m., EDT; on Sunday from noon to 6:00 p.m., EDT; and thereafter from 8:00 a.m. to 8:00 p.m., EDT. Interested parties also can visit the FDIC’s Web site at http://www.fdic.gov/bank/individual/failed/integra.html.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $170.7 million. Compared to other alternatives, Old National Bank’s acquisition was the least costly resolution for the FDIC’s DIF. Integra Bank, National Association is the 61st FDIC-insured institution to fail in the nation this year, and the first in Indiana. The last FDIC-insured institution closed in the state was Irwin Union Bank and Trust Company, Columbus, on September 18, 2009.

# # #

Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation’s banking system. The FDIC insures deposits at the nation’s 7,575 banks and savings associations and it promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed. The FDIC receives no federal tax dollars – insured financial institutions fund its operations.

FDIC press releases and other information are available on the Internet at www.fdic.gov, by subscription electronically (go to www.fdic.gov/about/subscriptions/index.html) and may also be obtained through the FDIC’s Public Information Center (877-275-3342 or 703-562-2200). PR-128-2011

We will update this story as more information is received.

A Visualization of US Debt

4

What would it look like if we stacked up our entire US Debt and all unfunded liabilities with physical currency?
A website called http://usdebt.kleptocracy.us/ has helped model that image for us.

Read the full article at Source: http://usdebt.kleptocracy.us/

FUNNY FRIDAY: “Admirable young man gives baseball to 6-year old”

2

This clip is more of a “feel good” Friday. Enjoy!

New Health Department eResource Guide

0

The Vanderburgh County Health Department (VCHD) is pleased to announce the availability of their popular Resource Guide in electronic (e) format.

The VCHD eResource Guide functions as the local phone book’s yellow pages did years ago as the “go to” resource for contact information for desired services, in this case public health related service agencies. It includes telephone numbers, addresses and other information by service provided. The Table of Contents lists each service category alphabetically and agencies are listed alphabetically in each service category.

Production of the Resource Guide started some twenty (20) years ago by the receptionist for the VCHD Public Health Outreach Nurses. The simple, single page guide included a list of telephone numbers to referral and partner agencies commonly requested by individuals visiting the health department. Over time, the list grew and became the VCHD Resource Guide. The Resource Guide is continuously updated, and has been printed numerous times since 1998.

The electronic eResource Guide looks much like the “paper hard copy version”, and includes a hyperlinked table of contents, and clickable links to the websites of the listed agencies. Almost all agencies listed in the eResource Guide have established websites with detailed information about their agency: such as; service(s), location(s), eligibility requirement(s), cost(s) – if any, etc. The Resource Guide is in portable document format (.pdf that can be opened in Adobe Reader), and is attached to this e-mail media release.

Gary Heck, VCHD Administrator says of the eResource Guide: “This is another way the Vanderburgh County Health Department adapts to changing times and tools to provide an essential community service. When individuals and families seek services other than the services currently provided by the Health Department, then our Resource Guide is available to serve as a guide to other community resources. When you have a good, useful resource in paper format (free of charge) and you continue to provide that service, but at the same time provide (24/7/365) availability; and update content continuously; and you provide the ability not only to keep a copy yourself but shared it with the world – repeated and it remains free of charge – then the good, use resource becomes – a tremendously improved resource. A valuable community service (paper version) becomes an extremely valuable community service (both paper and electronic version).” A limited number of hard copies will continue to be available by request to individuals without internet access. Follow the link on the VCHD home page at www.vanderburghgov.org/health to the electronic eResource Guide

1...7,0787,0797,080...7,205Page 7,079 of 7,205