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Re: “UPDATE: Mayor Bach's new book: Talk about a vanity project ...

Alas, it reminds me of the old saying "the emperor has no clothes", attributed from a fable by Danish author Hans Christian Andersen. Mayor Bach is delusional indeed. His tea party style of governance was a complete failure.

25 likes, 1 dislike
Posted by elephant on 03/17/2015 at 2:12 PM

Re: “Another suitor for Utilities steps up

The CS city council members are a bunch of ideologues who take their marching orders from the Koch funded Americans for Prosperity. Their whole purpose is to lighten the so-called public purse no matter what it does to basic city services. They don't care if your utility bills go up as they see a public utility as a risky liability to the city even though CSU has been a great deal for municipal residents for over a century!

Also, another big reason for dealing with Xcel is so the city can walk away from public pension debt.

6 likes, 1 dislike
Posted by elephant on 07/12/2014 at 7:43 AM

Re: “Another suitor for Utilities steps up

It looks like Colo Spgs wants to lease or outsource its power utilities to Xcel Energy in similar manner as Memorial Hosp to UC Hosp. That way the city can get out from under its PERA debt. Good luck on that one ... however, if the city wins its court battle against PERA, then expect others in PERA's local government division to follow suit and place the unfunded pension liability on both taxpayers and PERA members.

15 likes, 1 dislike
Posted by elephant on 07/11/2014 at 11:36 AM

Re: “City on losing end of rulings in PERA case

The city can't blow-off PERA via bankruptcy, as there's over $250M sitting in a bank escrow account. The city is betting on a "winner take all" scenario which could backfire terribly if PERA prevails. The city council members at the city attorney's urging is taking a huge gamble!!

15 likes, 0 dislikes
Posted by elephant on 06/19/2014 at 7:54 PM

Re: “Springs will contract for snowplowing next year despite a costly trial run

Pension envy has reached the point in Colorado Springs where city leaders are willing to lose money by outsourcing city services, even to a company whose headquarters is outside the US, rather than pay into a defined benefit plan. Somewhat hypocritical since many residents are military and or DoD retirees who receive a guaranteed federal pension that is much more lavish and solid than PERA.

48 likes, 5 dislikes
Posted by elephant on 01/22/2014 at 9:06 AM

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