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The dam is finally starting to crumble in the long running TriMet Capital Projects Ponzi Scheme. The Capital Projects Division of TriMet has been the driving force that been the Financial underpinning of this transit agency for decades. It did not ever really ever matter that transit projects real solved any commuter problems on any sound economic basis. The driving force was just keep getting taxpayers money: locally and on the Federal level to build the next project. The money received to commence building one project after another kept the cash flowing to keep the transit agency afloat. Keep in mind when billions of dollars are allotted to TriMet does not have to be spent all at once...budgeted over many years before the final payment is due to finish the project. Many times and more than once there is not enough money to finish the project as planned. Hence cuts have to be made ie: no parking garages, fewer platforms, no automatic switches, less benches. Then TriMet proclaims project done under budget. This capitalization Ponzi scheme has been made possible by the TriMet Board of Directors. Who have years have ignored with great arrogance any public testimony that goes against the predetermined decisions of what is going to be to keep the Ponzi scheme going. Well, there is no new project, hence no money to be deposited into TriMets bank accounts. Let alone TriMet has admitted that has already spent $75 million on the SW Corridor Rail project before any taxpayers approval of the project. Knowing how TriMets fudges and calculates cost, one can safely assume the actual expenditure on engineering, consultants, videos, public relations, out reach meetings and printed materials the real expenditures are more $150 million. The oversight by METRO which TriMet is under their purview has been nonexistent. The TriMet Boat of Directors who are appointed by the last two Democratic Governors are nothing more than bobble heads who know there seat on the Board can be is at the pleasure of those who have appointed them. The next round of Financial hardships will be borne by the Rank & File. Over the past four contracts benefits and pay have had their medical cut, pay stagnate, and working conditions made more stressful. I guess the only thing one does not have to worry about is how Doug”The Desk “ Kelsey will survive on his pension of $10,000 a month if not more with benefits.
Neal Berlin’s comment
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My comment :
The dam is finally starting to crumble in the long running TriMet Capital Projects Ponzi Scheme. The Capital Projects Division of TriMet has been the driving force that been the Financial underpinning of this transit agency for decades. It did not ever really ever matter that transit projects real solved any commuter problems on any sound economic basis. The driving force was just keep getting taxpayers money: locally and on the Federal level to build the next project. The money received to commence building one project after another kept the cash flowing to keep the transit agency afloat. Keep in mind when billions of dollars are allotted to TriMet does not have to be spent all at once...budgeted over many years before the final payment is due to finish the project. Many times and more than once there is not enough money to finish the project as planned. Hence cuts have to be made ie: no parking garages, fewer platforms, no automatic switches, less benches. Then TriMet proclaims project done under budget. This capitalization Ponzi scheme has been made possible by the TriMet Board of Directors. Who have years have ignored with great arrogance any public testimony that goes against the predetermined decisions of what is going to be to keep the Ponzi scheme going. Well, there is no new project, hence no money to be deposited into TriMets bank accounts. Let alone TriMet has admitted that has already spent $75 million on the SW Corridor Rail project before any taxpayers approval of the project. Knowing how TriMets fudges and calculates cost, one can safely assume the actual expenditure on engineering, consultants, videos, public relations, out reach meetings and printed materials the real expenditures are more $150 million.
The oversight by METRO which TriMet is under their purview has been nonexistent. The TriMet Boat of Directors who are appointed by the last two Democratic Governors are nothing more than bobble heads who know there seat on the Board can be is at the pleasure of those who have appointed them.
The next round of Financial hardships will be borne by the Rank & File. Over the past four contracts benefits and pay have had their medical cut, pay stagnate, and working conditions made more stressful.
I guess the only thing one does not have to worry about is how Doug”The Desk “ Kelsey will survive on his pension of $10,000 a month if not more with benefits.