ORDA Board Meetings

[Cork]

Grossly overpaid? Look up any private business that does that type of revenue and I think you will have to agree that is not the case.

I agree with X, but there's also the case that many CEO's, COO's and BMF"s are overpaid ?

 

[JohnF]

Private business leaders usually has to answer for their failures.

No they don't. Many fail upwards.

 

[Campgottagopee]

Grossly overpaid? Look up any private business that does that type of revenue

I'd also take into account being held accountable. NYS does-can-is used to running in the red. You won't last long as a CEO in the private sector by doing that.

 

[Q*bert Jones IV]

Private business leaders usually have to answer for their failures.

For every private business leader that had to answer for their failure, I could rattle off 1000 that didn't.

 

[Milo Maltbie]

NYS does-can-is used to running in the red. You won't last long as a CEO in the private sector by doing that.

No. NY has a constitutional requirement to balance its budget. State borrowing for capital projects requires voter approval. Authority borrowing does not. Borrowing for for necessary public facilities is the opposite of irresponsible. Your customers borrow amounts equal to a large fraction of their annual income to buy cars. Are they being irresponsible? Utility companies in NY probably have close to $500 Billion in debt. Are their CEOs being pushed out?

It's fashionable to complain about government all the time, but there is no way COVID vaccines would be available in a year if someone wasn't guaranteeing the cost of development, and government is the only institution large enough to do that.

mm

 

[x10003q]

No. NY has a constitutional requirement to balance its budget. State borrowing for capital projects requires voter approval. Authority borrowing does not. Borrowing for for necessary public facilities is the opposite of irresponsible. Your customers borrow amounts equal to a large fraction of their annual income to buy cars. Are they being irresponsible? Utility companies in NY probably have close to $500 Billion in debt. Are their CEOs being pushed out?

It's fashionable to complain about government all the time, but there is no way COVID vaccines would be available in a year if someone wasn't guaranteeing the cost of development, and government is the only institution large enough to do that.

mm

The point is 94% of NYS borrowing is done outside the capital projects requirement of NYS voter approval through these authorities.

 

[Milo Maltbie]

The point is 94% of NYS borrowing is done outside the capital projects requirement of NYS voter approval through these authorities.

DO you have a source for that?

mm

 

[x10003q]

DO you have a source for that?

mm

I posted this link an hour ago in this thread. This has been true for years. It is how NYS Governors get around the voting requirement.

Public Authorities

Public authorities are corporate instruments of the State created by the Legislature to further public interests.

www.osc.state.ny.us

 

[Cork]

I posted this link an hour ago in this thread. This has been true for years. It is how NYS Governors get around the voting requirement.

Public Authorities

Public authorities are corporate instruments of the State created by the Legislature to further public interests.

www.osc.state.ny.us

I'll state it again for MM's benefit, Authorities are a SCAM!!! Read the book The Power Broker about Robert Moses and how he came up with the concept, and most importantly, why he did it.

 

[Milo Maltbie]

I posted this link an hour ago in this thread.

And have you done the research to supprt yoiur claim that 94% of borrowing was not approved by voters?

mm