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The city of San Jose is cutting fire fighters and cops. It has a massive deficit. But San Jose did have enough money to finance TWO "Latino" supermarkets--stores that catered to that community, only.
"Through the Economic Development Catalyst Program, the city of San Jose in 2008 invested $502,000 in Kimomex Markets in exchange for preferred stock, said Paul Krutko, the city's chief development officer. The funds were matched about 10 to 1 by Pacific Community Ventures, a venture capital firm that partnered with the city, he said."
Like a Venture Capital firm, the city invested in a super market. Is this the right role for government? How many First Responders did San Jose lose because it leaders forgot their roles.
Worse, how many more "investments" does the city have?
Bottom Line--not a single cop or firefighter should be laid off till the city sells its investments in private businesses. Government has too much money--obviously!
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"Through the Economic Development Catalyst Program, the city of San Jose in 2008 invested $502,000 in Kimomex Markets in exchange for preferred stock, said Paul Krutko, the city's chief development officer. The funds were matched about 10 to 1 by Pacific Community Ventures, a venture capital firm that partnered with the city, he said."
Like a Venture Capital firm, the city invested in a super market. Is this the right role for government? How many First Responders did San Jose lose because it leaders forgot their roles.
Worse, how many more "investments" does the city have?
Bottom Line--not a single cop or firefighter should be laid off till the city sells its investments in private businesses. Government has too much money--obviously!
More...