PIT shows its hand (that was dumb)

[barbeetantrums]

US Airways offered millions to build operations center here
State, county use grants, credits, loans to woo $16.25 facility

Thursday, October 12, 2006
By Mark Belko, Pittsburgh Post-Gazette

 

[ClueByFour]

It's dissapointing that they are considering giving US a dime. The middle finger is the proper answer in conjuction with a bill for the moneies owed on the airport.

 

[AstroLounge]

It's dissapointing that they are considering giving US a dime. The middle finger is the proper answer in conjuction with a bill for the moneies owed on the airport.

This is exactly the reason PIT is NO LONGER the focus of the operation. Calling it a "Focus City" is even s-t-r-e-t-c-h-i-n-g it......it's business, why you people in PIT feel entitled to anything is beyond MOST of US.

 

[flyingcat]

Someone really does not want PIT to win. By disclosing the amounts involved before PHX and CLT can tender an offer they are at a huge disadvantage.

PIT OCC folks get ready to move.

 

[ClueByFour]

This is exactly the reason PIT is NO LONGER the focus of the operation. Calling it a "Focus City" is even s-t-r-e-t-c-h-i-n-g it......it's business, why you people in PIT feel entitled to anything is beyond MOST of US.

Who said anything about being entitled to anything?

I'd say the PA taxpayers have a right to the billion or so US stiffed 'em with in bankruptcy. Everyone seems to forget that.

Again, the proper response here is to lift the middle finger in Parker's direction, not to give US more money. Moreover, airfare costs to the 'Burgh have dropped like a stone since US dehubbed. This is actually a good thing.

 

[aerosmith]

Who said anything about being entitled to anything?

I'd say the PA taxpayers have a right to the billion or so US stiffed 'em with in bankruptcy. Everyone seems to forget that.

Again, the proper response here is to lift the middle finger in Parker's direction, not to give US more money. Moreover, airfare costs to the 'Burgh have dropped like a stone since US dehubbed. This is actually a good thing.

How about the 25k + they "STIFFED" me out of!!!!!

 

[zethya]

Who said anything about being entitled to anything?

I'd say the PA taxpayers have a right to the billion or so US stiffed 'em with in bankruptcy. Everyone seems to forget that.

Again, the proper response here is to lift the middle finger in Parker's direction, not to give US more money. Moreover, airfare costs to the 'Burgh have dropped like a stone since US dehubbed. This is actually a good thing.

I thought the airport was financed through Bonds, not individual taxes and that the only "taxes" imposed were associated with airport usage and ticket fees. If this is not the case, then why does the airport still carry a $600M debt, which is payable only through airport resources?

 

[ClueByFour]

I thought the airport was financed through Bonds, not individual taxes and that the only "taxes" imposed were associated with airport usage and ticket fees. If this is not the case, then why does the airport still carry a $600M debt, which is payable only through airport resources?

Since US used BK to drop it's bond obligations, the ACAA has had to find alternative sources of funding. One of those will be slot machine revenue which would otherwise go to the general fund. Thus, taking money out of the taxpayer's wallet.

If the ACAA defaults on the bonds, it's credit rating (and by extension the county and state credit ratings) take a hit. Thus taking money out of the taxpayer's wallet.

The bonds on the terminal itself are not payable only via user/landing fees.

 

[zethya]

Since US used BK to drop it's bond obligations, the ACAA has had to find alternative sources of funding. One of those will be slot machine revenue which would otherwise go to the general fund. Thus, taking money out of the taxpayer's wallet.

If the ACAA defaults on the bonds, it's credit rating (and by extension the county and state credit ratings) take a hit. Thus taking money out of the taxpayer's wallet.

The bonds on the terminal itself are not payable only via user/landing fees.

Original Post Reference:
I'd say the PA taxpayers have a right to the billion or so US stiffed 'em with in bankruptcy. Everyone seems to forget that.

I am aware that (in the future) IF the bonds default and/or IF slot revenues, which were originally targeted in legislation for taxpayers, are instead used to pay down the airport debt, it will impact tax payers. Your Original Post stated that it already has. What major source, other than future slot revenues, are being used to pay off the airport debt?

 

[a320av8r]

I agree. PIT should give Airways the finger. Airways should be forced to close the "focus city", crew base, maint base, OCC, etc.
That would show US Airways that they can't get away with whatever it is you said they did. Move those jobs to CLT since N.C. obviously doesn't understand that good jobs are a bad thing. That would show 'em just like you showed the steel industry!

Just don't come here with those jobs.

 

[insp89]

Since US used BK to drop it's bond obligations, the ACAA has had to find alternative sources of funding. One of those will be slot machine revenue which would otherwise go to the general fund. Thus, taking money out of the taxpayer's wallet.

If the ACAA defaults on the bonds, it's credit rating (and by extension the county and state credit ratings) take a hit. Thus taking money out of the taxpayer's wallet.

The bonds on the terminal itself are not payable only via user/landing fees.

I would say taking the money from the slot machine revenue is NOT taking money from the taxpayer's wallet.
People are not forced to play the slots.

 

[ClueByFour]

I agree. PIT should give Airways the finger. Airways should be forced to close the "focus city", crew base, maint base, OCC, etc.
That would show US Airways that they can't get away with whatever it is you said they did. Move those jobs to CLT since N.C. obviously doesn't understand that good jobs are a bad thing. That would show 'em just like you showed the steel industry!

Just don't come here with those jobs.

16.25/450 is about $36k per job.

Why not give that money to startups and local business who keep things local, try to grow, and have not previously stiffed every municipal entitiy involved?

Buying jobs is a losing proposition. The steel industry meltdown had very little in common with what we are talking about here.

And what is a "good job?" How many people have the collective US/HP laid off in North Carolina in the past 5 years? I'll bet it's more than the number of jobs that they've brought in recently.

Finally, why in the world would one choose to fund jobs in the airline industry (For anyone except Southwest)? It's collectively lost more than it's made over it's history and has violent swings of massive layoffs. Fund biotech. Fund healthcare. Fund high tech. Fund medium manufacturing. But don't fund a loser.

 

[ClueByFour]

Actually that's a bargain when compared to the deal Fast Eddie Rendell put together after the PHL Naval Shipyard closed. The 300+ million dollar deal worked out to about $50K per job abd the jobs were guaranteed for only 3 years.

Which was just as stupid.

 

[pit_needs_help]

Well judging by the dollars involved the PHL deal was far worse.

This is what politicians do at election time. Talk about Job creation, It's a big fraud and most fall for it.

Well it seems they really are offering three million. The one depends on job growth and the bulk is a loan. I am not sure the company is looking for loans.

 

[ano zira]

Actually that's a bargain when compared to the deal Fast Eddie Rendell put together after the PHL Naval Shipyard closed. The 300+ million dollar deal worked out to about $50K per job abd the jobs were guaranteed for only 3 years.

Also that does not count inflation, so in real dollars the 36K is relatively cheap.

actually its only 3m being offered(sans loans):

3m/450jobs= 6.7k per job


very very cheap

was rendel a former used car salesman?