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How bad is the business acumen of government?
"I believe their numbers were right eleven years ago. This means that the extra rent that will have to be paid for just one of the seventeen buildings being sold will equal half of the total profits from the proposed sales. Clearly this is another form of state debt by trading bonds for leaseback contracts. Long term leases are also one of the most expensive forms of financing that a government (or an individual) can choose.", Bill Leonard.
This is another financial disaster for the State. This is another way for the State government to lose money. The purpose of selling assets is to make money and pay down debt. Sell the Coliseum, sell the Cow Palace, sell vehicles, sell buildings, outright.
Selling building, then leasing them back is a short term gain. Then it is a long term loss. Thanks to Bill Leonard for standing up for fiscal responsibility.
Pass this along to your lists--so others can understand why the folks in Sacramento should not be running a hot dog stand, much less a government.
More...
"I believe their numbers were right eleven years ago. This means that the extra rent that will have to be paid for just one of the seventeen buildings being sold will equal half of the total profits from the proposed sales. Clearly this is another form of state debt by trading bonds for leaseback contracts. Long term leases are also one of the most expensive forms of financing that a government (or an individual) can choose.", Bill Leonard.
This is another financial disaster for the State. This is another way for the State government to lose money. The purpose of selling assets is to make money and pay down debt. Sell the Coliseum, sell the Cow Palace, sell vehicles, sell buildings, outright.
Selling building, then leasing them back is a short term gain. Then it is a long term loss. Thanks to Bill Leonard for standing up for fiscal responsibility.
Pass this along to your lists--so others can understand why the folks in Sacramento should not be running a hot dog stand, much less a government.
More...