Screwing our retirees is HOW WE ROLL

Screwing our retirees is HOW WE ROLL

Saturday, February 11, 2012

IF I'M READING THIS RIGHT THE 'DEBT SERVICE' IS ALMOST AS MUCH AS THE PENSION!


2 comments:

Anonymous said...

Al,

MacFarlane is not really a union buster at heart, for $17k a month in gross income he will bust the union or your balls, he frankly doesn't care.

Trimet's unsustainable balance sheet has forced it to reduce its appetite for growth or rid itself of unnecessary expenses, AKA (the union pension). Back in the day, Trimet was created to just transport citizens better then the five independent haulers did it replaced, they succeeded and now guys like MacFarlane have lost focus on that business plan and want to change Trimet's business model to "Trimet Heavy" whereas it is an infrastructure constructor as it is an operator of transit vehicles. The problem is they lack cunning shroud expertise in the area of heavy rail development and operation; hence, the 55 executives employed to function as inefficiently as it does. So naturally the union pension is the problem, then something else will be the problem and so on and so on; but Trimet will always have a carrot problem dangling from a string due to a lack of creativity and determination of the from the executives on the payroll. The one common denominator all the 55 executives have at Trimet is: don't make waves, and say "yes, sir boss", "that's sounds good boss." and collect that paycheck.

Debt service includes both the interest and the principal amounts of the monies it owes. IMO, Trimet is a "short" sellers dream because it's business model is unsustainable and eventually it will implode financially and will not longer be able to be known as "Trimet Heavy" the #1 light rail developer municipality.


IMO, the reason the "Jones's across the street" have greener grass then you is because of hard work, creativity, and determination.


Read more: http://www.investopedia.com/terms/d/debtservice.asp#ixzz1mAlfyK9vis forcing him

Al M said...

Thanks for that explanation, it helps my understanding of this issue.

Of course I am still not clear on why TRIMET is in dept at all.

They were handed grants to build these boondoggles, yet now they find themselves in billions of dollars of debt.

It might be easier to shaft the employees that deal with other issues, but employees know who they are working for.

Don't expect loyalty.