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Syracuse New York Headed For Bankruptcy, 100% Certain...
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[quote:Anonymous Coward 7318080:MV8xOTU3OTQ1XzMyODM5NTIwX0FCREQ1MTk0] A lot of this comes down to the recent mall expansion and the fact developer Bob Congel got a sweetheart tax-break deal. http://www.syracuse.com/news/index.ssf/2012/06/post_606.html. He would have had to pay $6.3 million a year in taxes but will instead pay $210,000 on the 1.3 million square foot expansion. Congel lied his ass off about what he was going to do and in the end it was nothing more than a retail expansion. He had all sorts of grandiose plans, none of which came to fruition. The idiot politicians are so bought and paid for. What a joke. It is not just unions that get generous perks. [/quote]
Original Message
Without a doubt Syracuse, New York is headed for bankruptcy. Not only is there an "official denial" but the mayor of Syracuse is seeking legal guidance on municipal bankruptcy.
Once again, public union wages and benefits, especially police and firefighters' pensions are smack in the midst of it.
Please consider this news headline which I openly mock: Expert says bankruptcy for Syracuse is unlikely, but mayor should explore option
Read more at
[
link to globaleconomicanalysis.blogspot.ca
]
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