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Rocky Mountain high

Max here in beautiful Durango, Colo., just catching up on news from home. I swore this was going to be a few real days off. But then I read that the NLR Chamber of Commerce was recommending that the city take out a mortgage to cushion the coming electric rate shock. Mayor Pat Hays seems somewhat reluctant, with good reason.

Do you put YOUR electric bill on a credit card? Do you finance an electric bill for 30 years? Wait, don't tell me you wish you could. I know, many of you think check cashers provide a useful, fair service, too.

But if you DID finance your light bill for 30 years, have you given any thought to the accumulated carrying charges? UAMS is a helpful illustration for revolving credit, thanks to the recent legislative session, when it said it would much prefer bonds to pay for a $35 million cancer center expansion. This decision, rather than paying cash from the surplus, will cost taxpayers more than triple that $35 million if the bonds run to term. It's a bond underwriter/lawyer payday, but not exactly careful stewardship.

Same thing on the northside. NLR is looking at $79 $41 million wholesale rate increases each of the next three years. Nearly $250 $125 million all told. Finance that for 30 years and you're halfway a quarter of the way to a billion before you pay it back. When the news article says Electric Department "revenues" will pay for the borrowing, make no mistake. That means customers. Here's hoping the mayor stays cool on this one. And that the city's share of a new power plant really proves to be the panacea that's hoped. Otherwise, there's no way around paying the piper, a combination of higher rates and reduced city services most likely. That new Wal-Mart SuperCenter that's coming out Maumelle way will eventually ease some of the pain with a mighty flow of sales tax dollars (unsubsidized by school taxes, it's worth noting).

Back to nature.

Comments

Max here in beautiful Durango, Colo...

Ah shoot! And I was looking forward to photos of Max in the speedo on a Caribbean beach!

Sorry, couldn't resist after yesterday's vicarious visit by DBI to the Governor's bedroom.

Enjoy your vacation Max. We have Arkansas under control here: Bill "Alexander Haig" Stovall in charge.

Might I suggest a topic?

You regularly feature Brummett's columns in their own discussion pieces, but how about one for either Warwick and/or Robert McCord's this week. Both are VERY interesting works, not just the rehash drivel that the talking heads and spokesman throw out.

If you're reading this Warwick, self-promote. And if you're reading this Mr. McCord, good stuff when you defend high quality education, and good stuff here, sir.

Speedo? Speedo??? THONG!
Nope, not signing this one. Gonna be like those thugs on another thread.

Men should never wear thongs. I think it's in the Bible somewhere.

If this is the NLR Chamber of Commerce's idea of a good business practice, it's a wonder there are any solvent businesses left over there.
It makes as much sense as making the minimum payment on your credit cards and continuing to buy groceries and McDonald's Happy Meals with them.

If this is the NLR Chamber of Commerce's idea of a good business practice, it's a wonder there are any solvent businesses left over there.
It makes as much sense as making the minimum payment on your credit cards and continuing to buy groceries and McDonald's Happy Meals with them.

Max, turn off the computer and cell phone, get a tall cool one and go and watch that beautiful sunset.

My apologies. I must be getting old. I'm glad I haven't harshly chastised anyone for double postings lately.
Uh, I haven't, have I?

Oh I am jealous! That is one of my favorite areas. Either ride the train to Silverton or better yet, drive north to Ouray.

At your elevation I bet it is not as hot as 97 Little Rock. I would suggest some excellent mountain biking spots but July is not when to do it.

Back to the thread.

I hoped I was not the only person that thought bonds to pay electricity was assinine.

Makes as much sense as,
"I can't afford to eat in that restaurant so I will put it on my high rate credit card".

It reminds me of the home equity loan commercials that said pay off your credit card debt and then blow the rest of your home equity for a Panama City Beach Vacation.

I am only happy I don't live in NLR but my business is there.

"Borrow and Spend" politicians are not run out of town but "Tax and Spend" was a chant by the Republicans to get the Democrats run out of office.

My Daddy always taught me to raise the revenue before you spend, stay out of debt.

How did the Democrats let the Republicans frame the debate as if taxing is the problem. We all know spending is the problem. The Repubs have had TOTAL CONTROL of legislative branch and the executive branch and we are OVER NINE TRILLION IN DEBT!!!!!

We can't even blame that on the War on Terror because that is only a couple trillion of the new debt.

After I type it I notice how rediculous that sounds, only a couple trillion.

Diogotta.
I keep getting a "debug" response when I try to post and therefore I am double posting (on other threads). The kids are grown, gone, and reproducing and /or out and about to see and be seen. Guess I will continue questioning readers' vision tonight until a kid can fix it!

I keep getting a "debug" response when I try to post and therefore I am double posting ...
Posted by: WLR

Yes, my own occasional double-post comes when I get the message that the blog is trying to control "spam" and my post has been flagged, or something like that.

So I click "Back" to keep from having to recreate my post from scratch, then post again.

I just have to remember that the post DOES go through the first time and I don't have to post again.

Computers...but it's OK. I just found a half-full bottle of brandy. You'd think I was on vacation in the Rockies...hey, Daily Show just came on. I'm outa here!

That is Terry Hartwick financing for you.

20 years ago as Mayor, Hartwick talked NLR into financing the Hydro Plant over 30 years. Now the taxpayers have been paying over $10 Million a year for a $100 million dollar Hydro Plant that loses money each year. That is paying $300 Million for a $100 Milllion dollar plant.

Now as the Chamber President Hartwick wants to spend $500 Million for $250 million dollars work of electricity.

Is Hartwick a bond daddy or something.

What a horrible idea.

Enjoy your time, Max...I am on holiday with the fam up north watching cool sunsets on the big lake...

and I am supposed to be unplugged...

Brantley...how about you staying out there in Colorado forever big guy? We will ship your stuff along with those five liberal morons that are always clogging up your blog.
They will keep you company and it will also get those lazy key board peckers of our welfare role.

rosso..wherever you are you stay there too....forever.

rosso..wherever you are you stay there too....forever.
Posted by: Anonymous

I'm actually okay with this. I've long advocated splitting American down the Mississippi. Let the nuts pick which side they want and the Democrats will take the other side.

Everybody wins. Half the country becomes Nazi Germany and the other half becomes Canada, with health care for all and maple syrup too.

This Anonymous 11:30 (and 11:31, obviously) complains about US clogging the blog? See how they believe and enable their own fantasies?

Pitiful.

I smell a rat and that rats name is BOND DADDY . shame hays has been robbed and mislead by his advisors but hell with that electric rate hike and that new Baseball club taxes on all that fine citizens of NLR Arkansas I'm sure they will pay triple what anything is worth , in the long run thank god i live in Little Rock.

I think you're overstating the specifics, Max, but very 'spot on' regarding your point. The rate increase isn't projected to be "$79 million each of the next three years," but the difference between the current $38 million and the new tab of $79 million. So, that's $41 million per year, for a total of $123 million we're talking about possibly financing with the bonds. Oh, and those bonds--yes, bad idea. Very bad idea. Dear Leader (Mayor Hays) is right on this, in that we shouldn't pass this debt on. We're going to be using the--pay as we go. Let's not join the decadent, crumbling empire of of the Bush-Cheney Homeland with all of its massive debt. Let North Little Rock be a shining example of fiscal responsibility. We can handle a substantial rate increase and still be better off than the slaves of Entergy on the other side of the river.

ARK. BLOG Ouch. Right. Thanks for the catch on the bad math.

What a coincidence that Terry Hartwick is involved in coming up with a solution to the forthcoming high electric bills in NLR. Whatever happened to the dam that he and the bond daddies built when Terry was NLR mayor to forever resolve high electric bills? Situations like this are the downside to the strong mayor form of local government, so LR be careful what you wish for.

hey spirit...how are you Liberals gonna pay for all that free health care without Republicans to pay all the taxes it takes to do so...Explain that lazy boy !

hey spirit...how are you Liberals gonna pay for all that free health care without Republicans to pay all the taxes it takes to do so...Explain that lazy boy !
Posted by: Anonymous | July 13, 2006 09:23 AM

May I field this one, spirit? Well, 'Nony, we're going to use some Republican economics here--we'll run up a big-assed deficit to pay for our national health care. Why even attempt to pay for anything in the here and now when we can saddle future generations with it?

I wish I could stay, Anonypuss...but I have to come home to bug you and all the other Anony$taffer$upporter$...

To Anonymous | July 13, 2006 09:23 AM :

And how are you thugs going to run your businesses and make all your fortunes without us "lazy boy" Democrat folks who work for the other man.
Oh wait, I forget, silly me. There are millions of folks south of the border who will work for a pittance -- and no health insurance. And when they get uppity, just call the border patrol.
But that's what many of you do now, isn't it? And do it with the Bush administration's tacit approval, I might add.
Just incidently, I wonder how much more money would be available for actual health care if we weren't forced to contribute to insurance companies' bottom lines.
And don't start with how much better our health care system is than Canada's. Surely it's better to wait for elective surgery scheduling as I understand you may have to in Canada, but know it will be available to you, rather than find that you need surgery here when you are: no longer working; COBRA benefits have expired; you can't get decent individual health insurance; and you can't enter the work force because of family obligations.
Let me caution you, no matter how well you are doing now, the unthinkable most assuredly can happen to you. If it does, you will see money flying out of your bank accounts at amazing rates. And you will pray that your health holds for a few more years.
(Good grief. Someone mention health care and I forget. I forget electric rate controversies. I forget mortgaging our future for vacations and hamburgers. I forget Durango sunsets. I forget Max in a Speedo or a thong. I forget DBI in the governor's bedroom. I forget what I was supposed to do this morning . . .)

...we're going to use some Republican economics here--we'll run up a big-assed deficit to pay for our national health care. Why even attempt to pay for anything in the here and now when we can saddle future generations with it?

I like your way of thinking, clay! Hell, why even bother with all that 'voodoo economics' crap...just charge it to the babies.

...we're going to use some Republican economics here--we'll run up a big-assed deficit to pay for our national health care. Why even attempt to pay for anything in the here and now when we can saddle future generations with it?

I like your way of thinking, clay! Hell, why even bother with all that 'voodoo economics' crap...just charge it to the babies.

oops

Democratic lazy boys won't work is the reason we have the mexicans now. Don't blame them...blame yourself for being so worthless and inept

Rosso..you pricks aren't bugging us ..we are doing a good job of bugging you on your own blog...I love..we love it !!! NW Ark guy.

Goodness, I must be doing something right if you are calling me a prick...

North Little Rock is bound and determin to run off all the business they can. Here is what we have done or tried to do in the last year.

First we tried to ban smoking in restraunts in only NLR. Don't you know if that passed Sherwood would have been lining up to build new restraunts. Then we decided to build a baseball stadium for a minor league sorry as can be designed to move their best players on up long time loser team. Just to make sure the 1% taxt would pass we added a couple of million in to build a new wheelchair ramp on the "Pat Hayes" senior citizen center. Then after all the smoke had cleared and Hayes had a place to build his future statue we suddenly discovered that we had an electric problem coming up next year. The answer was to raise our rates a year ahead of time and save MY money so it would be easier for me to pay my bill next year.

Hayes is an IDIOT and is far past time for him to go. Because of his poor planning I will have the pleasure of paying 50% more on my electric bill the next 3 years. So will all NLR businesses.

I think you forgot that Entergy ratepayers are giving subsidies to Louisiana, Mississippi, and Texas ratepayers. Why not allow some NLR ratepayers to make the same stupid mistakes?

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