Where’s the Leadership in Coral Gables

August 18, 2010 Leave a comment

Coral Gables needs a new leadership of citizens and organizations who are ready to identify a new agenda for the city, not only for the narrow services of the city government (spending, taxes and regulation), but to lead the city in its transformation into a dynamic center of regional growth emerging from the Great Recession, attracting new businesses and activities (while sustaining our traditional businesses).

Evidently, Coral Gables is already an important business center, but its future depends on recruiting new businesses, not only protecting and sustaining what we have.  The city is built on a fragile economic underpinning, too dependent on a traditional, sluggish retail trade, commercial and residential real estate sales and construction, and administrative, accounting, legal, engineering and commercial services, most of which will grow slowly in the years ahead.

Who will come forward with ideas for a better future for the city to keep it growing and prospering.

We are still will looking for that leadership.

Filed under Coral Gables

Are We Blasé About “Misusing” Public Funds

August 17, 2010 Leave a comment

Thanks to the Miami Herald yet another misuse (misappropriation) of public funds has been reported for the City of Miami.  The so-called “misuse” (this reminds me of the term “misspoke”) of public funds is in fact institutionalized corruption that has been going on for years in this example.  It is not hard to guess that this sort of “informality” in the use of public funds is a county-wide problem.

One may also wonder whether these problems would ever have been discovered without the oversight of federal authorities.  Apparently, Miami-Dade citizens tolerate the misappropriation of public funds as a normal  part of the everyday business of government and of doing business with the government.

In a stinging report, Auditor Victor Igwe, backed by an opinion from the state attorney general, said the city tapped into even more restricted money — this time, $9.47 million in gas taxes — to fill gaping budget holes.

…the city shifted the money to the general fund to balance its plummeting checkbook, an improper practice that has been used in the past to mask deeper financial woes. The money went to operate street lights.

The city is already under federal investigation for the questionable transfers of millions in Impact Fees and other restricted funds, but this is the first time the use of gas taxes was found by auditors.

…the practice of tapping into the Local Option Gas Tax has been going on for nearly a decade.

Read more: http://www.miamiherald.com/2010/08/16/1779039/auditor-mimai-misusing-millions.html#ixzz0wt1KhbIR

Filed under Coral Gables, Finance

Thanks to Donna Shalala (I Believe)

August 17, 2010 Leave a comment

This progress is due to great focussed and disciplined university leadership.

Move over, Gators. The University of Miami is now the top college in the state of Florida, according to U.S. News & World Report magazine — a first-ever accomplishment for the Coral Gables school.

via Miami Hurricanes, Florida Gators get new ranking to argue about – Education – MiamiHerald.com.

Filed under Coral Gables

More Bad Housing News

August 17, 2010 Leave a comment

Housing problems continue unabated, which is bad news for the South Florida and Coral Gables economy.

In the average congressional district, serious mortgage delinquency rates – defined as borrowers more than three months behind on their payments – are 9.4 per cent, compared to 3.3 per cent at the time of the election in 2008, according to a study by Deutsche Bank.

…

The pain remains concentrated in states such as Florida, California and Nevada. More than one in five borrowers are at least three months overdue on their mortgage payments in 23 congressional districts – including 13 in Florida, six in California and two in Nevada.

via FT.com / US / Economy & Fed – US house mortgage arrears mount.

Filed under Housing

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