Friday, January 6, 2012

The Reason For Selling Gracedale!

The cost of the swaption is growing by the day. Why it was not resolved by Mr. Stoffa when it dropped to 12 million within the last two years is any ones guess. Perhaps because he was so preoccupied with the ousted councilman on selling Gracedale that he missed his opportunity...so WE have to pay for it today. Ladies and gentlemen of NorCo, if taxes do have to go up in the near future...this is why.

Please Read:
http://www.lehighvalleylive.com/northampton-county/index.ssf/2012/01/northampton_county_council_rev_2.html

47 comments:

  1. I would hope that county council explore options for the swaption that do not require the release of surplus funds to pay for it. The financial team presented options for replenishing the surplus over several years, but also stated that Bank of AMerica would be willing to loan the $25 million, in exchange for the replenishment funds, where the county would then have to make up a 6.8 million loss. If Bank of AMerica could loan the funds at a .75 % interest rate as described and accept the replenishment on top of that, the county should utilize this option. $25 million kept in county hands could also generate interest for the county.

    The financial team also said that the entire $25 million could be refinanced with traditional taxable bonds in a bond issue that would increase the debt service, to be paid over 30 years. They said that would be very costly....how costly? They didnt know...thats because a traditional bond issue generates fees for the bond attorneys, not the financial advisors who still have their hands out, looking to make another buck off this hideous mess.

    I would urge the county council to get in touch with Auditor General Jack Wagner who spent countless hours on the swaption mess across PA. In light of the recent news that 2 financial advisors plead guilty, and are awaiting sentancing for their role in a different swaption mess, I would also urge county council to hold Concord Finance fully accountable for what they did.

    The County should seek out options from as many municipal finance advisors that they can find, and invite them to present their options at every single council meeting from now until October. I am not convinced that a traditional bond issue (to avoid the release of $25 million in surplus) would be so costly that it would not be feasible. It should be looked at with real numbers, and total cost...not ignored as an option, which the advisors were advocating.

    The county can (and should) hold onto the $25 million in surplus, and not make any moves until the call date on October 1st. At the call date, another option may be to pay out a portion of the swap (maybe $10 million) and refinance the rest of it, to lessen the impact of a bond issue on debt service. I think the economy will be artificially propped up by rising interest rates in this election year (which will help the refianancing of the swap) but will crash again in 2013 after the election. Fixed interest rates are key, no variables should be involved.

    I can provide county council with alternate advice from other advisors who are experts in this field, and will be doing so in the near future.

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  2. Why would anyone take financial advice from a massage therapist?

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  3. Scott Parsons is a very good politician. Scott's biggest boosters were COAF and AFSCME. Really, good politicians seize the middle ground, and that's what Scott did by voting to keep Angle's personal lawyer as Council Solicitor. By doing so, he's won the praise of B.O. and Angle.

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  4. Bernie, get off the blog. no one cares to hear your perpetual hatred on this blog. Thats why you have your own, failing blog with zero credibility. Go back there and stay there, and worry about your problems below the belt. Lord knows, you have problems!

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  5. I see Barron and the new Dem's are wasting no time in attacking Scott parson's for being his own man. This is the problem with these self-styled new Dem's, they are just new versions of Stoffa and his gang. If you don't follow in lockstep they go after you.

    Hooray for Scott, he did what he believed in and i support him for being his own man and thinking for himself.

    I still don't trust Barron and his gang, he is just pandering for votes.

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  6. Bo does not post on this blog he signs his name to his posts. Believe that and I have a nice bridge for sale, any buyers?

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  7. Is Council continuing to pay Angle's personal lawyer some kind of consolation prize ?

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  8. im not sure why scott did not vote in favor of removing phil, after all phil is angles cronie. can anyone explain?

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  9. Did you delete a comment thatr comlemented Scott from your blog?

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  10. Phil Lauer is a good man. He does alot of un-heralded "pro bono" work. He does take cases that even I have trouble reasoning.

    My best guess....

    He is a lawyer by trade and Angle is a customer.

    Can you imagine lawyers for OJ not thinking he was guilty. And letting their daughters date him?

    I know one could argue the point with a morals issue, however but Ron probably pays on time.

    I know one thing, if you ask Mr. Parsons, he will give you an honest answer.

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  11. What bothers me is that McClure, Barron and the Long Dem's wanted Lauer gone. They thought Scott should just do what they want. I appalud Scott for doing what he thought was right.

    You folks have to be careful with those Long Dem's, you may think they really care but it is all about political futures and power with them.

    Defend Scott Parsons for having the courage of his convictions. I am proud of him.

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  12. Does anyone know if Mr. Lauer got paid by Angle for the Will case ?

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  13. Ohare is writing most of the comments relating to scott both good and bad to manipulate this topic. We should all be smart enough to know that he is trying to confuse and separate us. We can only hope that if Scott is reading these comments he understands that Bo is just playing his games and as soon as an opportunity opens he will work at destroying Scott just like he has done with so many on others on council.

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  14. Anon 147 - they wanted him gone just like cusick wanted him gone because he is affiliated with angle. That's not so hard to understand to the reasonably intelligent person. It is likely that laure will reveal things to angle that angle will feed to BO and their manipulation of matters will continue as if angle was still on council.

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  15. I agree with anon 7:41 above... He will feed angle all the inside information, Scott voted with the Republicans, next thing you know he will be eating dinner with them and when gracedale does not turn a profit, he will be voting to sell it. What is wrong with Scott Parsons?

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  16. 9:34

    Why not ask Scott Parsons his reason before attacking him?
    You do realize this was one of the first votes of many.
    Ohare has copious amounts of time to rail Scott on other issues.
    If I were Scott I WOULD have dinner with the opposition.
    One school of thought, if you wish, would be;

    "keep your friends close and your enemies closer."

    The other which I ascribe to is ;

    "a little detente' will go a long way."

    I think Scott referred to it as "CIVILITY".
    How soon we forget.


    I disagree with the statement that Lauer would be a "Trojan Horse" for Angle. That is not only unethical, it is illegal to diseminate information from a client to others.
    I think Mr. Lauer takes his oath seriously. As well he should, he wouldn't want to join the ranks of the "disbarred".

    FYI
    I certainly hope you folks don't think I am Bernie or one of his minions.
    For my true identity I direct you to MaryAnn
    who I saw and spoke with at the swearing in ceremony. I only ask that if she elects to reveal who I am that you ALL keep the information secret.

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  17. Phil, is a good lawyer with a good reputation. He does in fact need the job, and if he is found to be unethically leaking to B.O. Or Ron, he can be replaced at anytime. I think Ron is happy with the vote so he can keep squeezing blood out of Phil. I think B.O. is happy because he thinks Phil will be a source. This is politics at its most unpleasant. But, Phil and Scott are both good men at heart and this will all be fine.

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  18. Hey, the Gracedale census is up. Good job to everybody has has actually fought for Gracedale !

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  19. I don't believe that any of our followers are attacking Scott, I believe Bo is behind it to give Scott the impression that he has lost his followers. Not so, we are smarter than that because most of us understand how our opposition plays, and we also believe that Scott is aware too. The message sent to Bo and his kickout friend is: ur game is not working.

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  20. Did Phil get paid for the Fred Angle Will contest ? If not, are his legal services income to anyone ?

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  21. Scott has been attacked on this blog becaus ehe did not vote with McClure and Barron. That is wrong. I hope COAF stays out of the politics and sticks to Gracedale. I don't give a darn about these Long Dem's and their games. Scott did what he thought was right. If you start deleting comments you are no better than bo.

    Good for Scott and people should be happy you have an independent voice on council. Is this blog only for Long Dem union people? Remember, the union didn't save Gracedale, COAF did.

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  22. It was so nice to meet you " Winston Smith " what a pleasure to talk to someone so down to earth and reasonable. I look forward to talking to you in the future. Keep up the good work.
    And as for revealing your idenity I think we should keep that secret a while longer.
    At least we know your not Bo, but that we knew before he only wishes he could write that well.
    Take good care " Winston Smith "
    maryann

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  23. to 1:38 Get real, Barron has no vote on Counsel, COAF and the Union, and the voters of Northampton County saved Gracedale. We are not knocking Scott, you have to give him a chance, one meeting is not a chance.

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  24. His true name is Pubic O'Hare that's what we call him at the ET.

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  25. I say COAF really saved Gracedale, the union helped a bit but almost screwed it up. Without the COAF it would be a done deal. Remember it was union votes that put Stoffa in office in 2005. They said they liked what he said, he was one of them.

    Ha! the unions in the county create more problems for employees with their political picks than they help.

    Thank you to COAF.

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  26. We "COAF" hope you can all see how Bo through his trash comments is trying to separate the unions, and COAF, and the dems, and the reps. He thinks he is a master at this...we have news for you Bernie - it's not working. Remember what Peggy said no d's no r's just good government...we believe in this council, both d&r, and most of all...we believe in the power of the people. Happy to inform you - you're done. Say hello to Ron for us.

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  27. Word on the street is, bo favorite words long dem, unions. bo writes angles oped, bo signature the inflateable rat, bashing unions., yet angle used a UNION PRINTER for his lawn signs, does this mean angle is turning to be a LONG DEM? bo why a 1 sentence brief for the
    the law suit that is comming? Can it be that ECKERT SEAMAN is not there to write it for you? We know that they wrote your last brief, and charged the county for it, the bills from ECKERT SEAMAN show that. YOU ARE DONE, TAKE CARE OF YOUR TIC TAC.

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  28. Actually, Bernie at every chance attempts to identify the COAF as being synonymous with the Gracedale union. That is where the term "union goon" originates. Of course he is a misleading sad sack. Obviously a mere amateur at manipulation. In most peoples minds if something false is repeated enough times, it becomes true. (see FOXnews)

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  29. Allow me to make a correction. After some brief rationalization I will change the above comment to;

    "in SOME peoples minds"

    as in the oft quoted P.T. Barnum saying

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  30. Winston, "many " people know who you are working for and are not at all fooled. At the appropriate time all will be revealed. The union and COAF have two very different agenda and COAF will not automatically do what the union wants. If we had relied on the union, Gracedale would be long gone by now.

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  31. I will agree COAF had a lot to do with saving Gracedale but they did have some help from A FEW OF the AFSCME union members. There were some members out there working to save their jobs even some of their family members were out there too so don't knock the union, even Jerry Green from the Steel Workers Union helped.
    Many thank's to all that helped in any way
    We got Geacedale on the ballot and WOW so this is all behind us now we have to look to the future, and see that Gracedale stays strong and on the right track for the sake of her residents.
    We must stick together and stay strong and not let our opponents seperate us. There are good D's and there are bad D's the same with the R's
    we must work for the good of the people.
    Scott keep up the good work don't let bloggers get you down. We are behind you all the way.

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  32. I won't let political operatives use the great efforts of the COAF to further their selfish political ambitions. This is about Gracedale not ambitious politicians and their union buddies.

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  33. A televised interview with Jerry Green after a small set back from the courts, compliments of Ohare, and before the voting , showed him saying "maybe it is time to give up and start negotiating with the new management"

    Sorry, I don't have alot of love in my heart for him after that comment.


    and "word up" to the 5:32 doofus

    I can't wait to see who you "out' as me.

    "word up" LOL...thats ghettospeak

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  34. Hey Winston, in due time.

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  35. I have been reading LVT and apparently Barron has really screwed over a union woman with a run of bad luck. He always was a bit shifty.

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  36. After reading that woman's response to Steve Barron, it is pretty obvious he really duped her. what is with that guy.

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  37. After reading her response it seems Ohare really duped his readers.
    Alas some are duped more easily than others.
    Wink Wink....10:46

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  38. You are deleting comments now, just like O'Hare. If you do that then you are no better than his hate blog. A comment was posted about a lady treated badly by Steve Barron. There were no vulgarities or curse words used.

    Is this blog run by COAF or have the union thugs that own Steve Barron taken it over?

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  39. The Ministry of TruthJanuary 10, 2012 at 3:13 PM

    I saw other comments deleted today as well. hmmmm ......I find that disturbing


    Why don't the lions eat the clowns in the circus

    Because they taste funny

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  40. Occasionally it does seem there is a irrational Captain at the helm.
    This blog has the potential of being akin to Caesar crossing the Rubicon or Captain Queeg cutting his own towline.
    your blog....your choice

    Paranoia.....not just for breakfast anymore.

    The beatings will continue...
    until moral improves

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  41. Rev. I think it is fair to point out off topic comments. I also think its fair to have a policy to delete them, with explanation. However, please don't let your blog become a place "owned" by any politician or that politicians pals.

    The COAF is responsible for the movement that saved Gracedale; period. Ultimately, you had union, Democrats, Republicans and Independents who also believed that the Home was not given a fair or honest shake by Angle and Stoffa. Many people came together in a common purpose and it was a good thing.

    There is no doubt some opportunistic politicians out there have tried to "hijack" the cause for their own political gain. It is also clear some union members may see this as a political opportunity for their cause. The point is for years the union sat on its hands when reform was pushed. They sat on their hands and supported John Stoffa, when warned about who he was. Sadly, they are easily fooled and often make poor decisions.

    So please don't be offended if some of us who praise your groups efforts and have no burning love for Bernie O'Hare, chafe at the idea that your blog will be used to push some candidate by censoring any other voices.

    God Bless

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  42. Good day all. Please be advised that we have in fact removed some comments that we beleived to be BO. He does not allow us to post on his blog - we will not aloow him to post on ours. Any one who posted a comment that was removed and would like to have it returned to the blog, please email Savegracedale@gmail.com, identify yourself so that we know it is not BO, and we will gladly return the deleted comment. WE WILL NOT AOLLOW BO TO MANIPULATE THIS BLOG.

    Hope you all understand. Thank you.

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  43. This is a quote from bernardos blog

    "12:07 AM
    Bernie O'Hare said...
    Actually, we should all care that we can be victimized and never see a nickel in restitution."

    Can u believe this guy - he victimized his clients in bethlum and scranton. How much did they see?

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  44. I think that is fair Reverend. But please don't let the Barron campaign manipulate this blog either.

    This is about Gracedale and ensuring its survival and prosperity, not about some guys political career or the union's political desires.

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  45. Word on the street is, if Barron is secure for the next 4 YEARS, what campaign does he have to worry about?

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  46. http://broadandpennsylvania.blogspot.com/2012/01/politics-of-bitterness.html

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