(Ed.Note: Original post September 2006)
Economic Development: Running the bases---internet, cheese, and booze etc.
If you click on the post you can review the modern techniques for attracting business to your community-----the very first base to be run---is internet web presence. This is cited in the article as the first step of 85% of all site selection.Thank goodness we have come a long way from the Spiro Agnew days when folks that were interested in computers were just "pointy headed intellectuals" that might interfere with the daily business at hand....like interfering with space for our brand new Royal typewriter.Modern economic development begins on the internet.This is why when you Google "Evansville" one of the very first things you find is "The Evansville Observer." That is just the very first thing folks think of nationally when they hear the term "Evansville." "Go Big Blue" does not even come up on the search engine.
Thus, when folks consider how to enhance the development of Evansville, I hope they will take the time to click on the post and read why web development is properly an expense of economic development, and in fact, the very FIRST base to be covered if one is to score by running the bases.I believe all this strongly.
However, just to cover ALL the bases, I am attending the Monroe Cheese Days this Sunday. If you have been covering the Monroe Times lately, you will know that in Monroe, Economic Development is just about liquor licenses....and cheese. I do love the 5k fun run in Monroe that ends in the beer hall. With polka music blaring and the runners from all over Southern Wisconsin sweaty after a 5k or 10K race sipping Berghoff dark and of course chewing their favorite slice of cheese. What heaven! The way it should be. And always will be in eternal Monroe. The rest of us need to consider the internet. After all. We have moved on from polka music.
Alleluia.
Friday, May 23, 2008
Monday, March 31, 2008
OpEd: " Past Results do not Guarantee Future Performance"
(October 2007)
If you do not remember this phrase, you are probably too young to read this post.
In virtually every mutual fund brochure or prospectus for a unit trust of whatever investment, there is the caution...... after of course the investment representative has gone over the wonderful result if..... in theoretical terms..... you had invested ....$1....at the Crash of 1929 and invested that in this particular investment....you would have had the wonderful result listed above....." and after speaking of those wonderful theoretical results, there is the caution about ...."Past Results do not guarantee future performance..."
Recently, in Evansville, in our own school projections for future school demand for facilities, whether we looked at population projection or building permit historical data, nobody wanted to read the warning----"Past results do not guarantee future performance."
Even in the Evansville City budget, the city financial consultant, Greg Johnson, from Ehlers and Associates stated that "proceeding forward with no further General Obligation debt, the future seems to be no problem with debt capacity." The problem, of course, was pointed out by Fred Juergens, who counted 5 million in dreams that were penciled in on the capital investment budget for the year around 2009.
It seems we always, as human beings, want the pro forma future not to include the unfortunate expenses of the reality of the things on the horizon.
I could go on about flashing lights from dashboards of cars re warnings, but.....I think you get the jist. As a stress reliever, it is important to manage stress and ...a little denial is good. Sometimes....the denial gets too large.
Make a note of it.
If you do not remember this phrase, you are probably too young to read this post.
In virtually every mutual fund brochure or prospectus for a unit trust of whatever investment, there is the caution...... after of course the investment representative has gone over the wonderful result if..... in theoretical terms..... you had invested ....$1....at the Crash of 1929 and invested that in this particular investment....you would have had the wonderful result listed above....." and after speaking of those wonderful theoretical results, there is the caution about ...."Past Results do not guarantee future performance..."
Recently, in Evansville, in our own school projections for future school demand for facilities, whether we looked at population projection or building permit historical data, nobody wanted to read the warning----"Past results do not guarantee future performance."
Even in the Evansville City budget, the city financial consultant, Greg Johnson, from Ehlers and Associates stated that "proceeding forward with no further General Obligation debt, the future seems to be no problem with debt capacity." The problem, of course, was pointed out by Fred Juergens, who counted 5 million in dreams that were penciled in on the capital investment budget for the year around 2009.
It seems we always, as human beings, want the pro forma future not to include the unfortunate expenses of the reality of the things on the horizon.
I could go on about flashing lights from dashboards of cars re warnings, but.....I think you get the jist. As a stress reliever, it is important to manage stress and ...a little denial is good. Sometimes....the denial gets too large.
Make a note of it.
OpEd: On the Minimum House Size Ordinance: On Robber Barrons
November 2007
As a young college student, I lived with my grandmother near the University of Minnesota, and studied in the living room, with the large Oriental rug. Taking a break one night, I asked her:
Grandma---where did this oriental rug come from?
She replied, "Your grandfather won it in a poker game at the James J. Hill Mansion one night back in 1929."
That made sense. The rug was a bit worn. Still....just the idea of a poker game with the legendary James J. Hill, the Robber Barron, really got my interest.
In the olden days, when Robber Barrons were robber barrons, the Federal Government had a development program-----they cut deals for the railroad, for states, for land....directly with the Robber Barrons. That was the development plan.
In the modern age, this policy has been modified-----now it is established practice that the Community has a role in establishing what is in the community interest. They have input in the development process. It is not just a back room deal.
So----mouthing by politicians about "The Market" ---you may have heard some of this in audio lately----is just nostalgia for the days of old when the Robber Barrons met and cut deals in the back room----nowdays, the public has a say----and some folks, namely folks who think themselves robber barrons, find this offensive.
In the Planning Commission meeting last week was a thoughtful dialogue on this issue. The developers noted that the current ordinance was too complicated. It needed simplification. It was too rigid. It needed some flexibility. Their remedy was to junk the ordinance completely. They accepted no ideas for limits of any kind.
The Smart Growth Plan of 2005 made a finding of fact that there was an excessive number of lower value homes in Evansville which has led to higher property taxes since new homes built did not develop enough revenue to pay for infrastructure for the city---and not enough revenue to pay for the building required for the school system. This finding of fact at the Smart Growth plan has been extensively documented by school and city officials. It represents a valid community need. That valid community need cannot be dismissed by mouthing by folks about the "Market."
To be successful in promoting Evansville to the hinterlands, we need a community that offers affordable family living---at the current time we are on the high end of the tax spectrum. To eliminate the minimum house size ordinance would make this worse.
I believe it is prudent to modify, simplify.....but NOT eliminate the minimum house size ordinance. It represents a valid community interest for Evansville. Please tell your alderman what your thoughts are about this issue.
Click on the post for the housing section of the Smart Growth Plan adopted by Evansville in 2005.
As a young college student, I lived with my grandmother near the University of Minnesota, and studied in the living room, with the large Oriental rug. Taking a break one night, I asked her:
Grandma---where did this oriental rug come from?
She replied, "Your grandfather won it in a poker game at the James J. Hill Mansion one night back in 1929."
That made sense. The rug was a bit worn. Still....just the idea of a poker game with the legendary James J. Hill, the Robber Barron, really got my interest.
In the olden days, when Robber Barrons were robber barrons, the Federal Government had a development program-----they cut deals for the railroad, for states, for land....directly with the Robber Barrons. That was the development plan.
In the modern age, this policy has been modified-----now it is established practice that the Community has a role in establishing what is in the community interest. They have input in the development process. It is not just a back room deal.
So----mouthing by politicians about "The Market" ---you may have heard some of this in audio lately----is just nostalgia for the days of old when the Robber Barrons met and cut deals in the back room----nowdays, the public has a say----and some folks, namely folks who think themselves robber barrons, find this offensive.
In the Planning Commission meeting last week was a thoughtful dialogue on this issue. The developers noted that the current ordinance was too complicated. It needed simplification. It was too rigid. It needed some flexibility. Their remedy was to junk the ordinance completely. They accepted no ideas for limits of any kind.
The Smart Growth Plan of 2005 made a finding of fact that there was an excessive number of lower value homes in Evansville which has led to higher property taxes since new homes built did not develop enough revenue to pay for infrastructure for the city---and not enough revenue to pay for the building required for the school system. This finding of fact at the Smart Growth plan has been extensively documented by school and city officials. It represents a valid community need. That valid community need cannot be dismissed by mouthing by folks about the "Market."
To be successful in promoting Evansville to the hinterlands, we need a community that offers affordable family living---at the current time we are on the high end of the tax spectrum. To eliminate the minimum house size ordinance would make this worse.
I believe it is prudent to modify, simplify.....but NOT eliminate the minimum house size ordinance. It represents a valid community interest for Evansville. Please tell your alderman what your thoughts are about this issue.
Click on the post for the housing section of the Smart Growth Plan adopted by Evansville in 2005.
OpEd: On Caroline Kennedy's Shot Across the Bow: A New Day
January 2008
Last week, right in the middle of a holiday celebration for Martin Luther King, our presidential politics headed for the rocks in a sideshow of debate of who was the bigger victim, who was the better friend of the disenfranchised, who was the (insert your favorite preference here.)
Right after Bill Clinton had raised his voice in rebuke, right after some gentle folks in the Democratic Party had politely told Bill to "Shut UP", it seemed as though just when the patient was near death, there was a CPR or shock event that brought everyone to their senses:
Caroline Kennedy shot the cannonball across the bow with her article in the New York Times: This campaign will be about the NEW and not about the OLD. It will be about HOPE and a future that will utilize the skills that the current generation of leaders has shown that they do NOT have. It will be different. It will not be about being the better or more qualified victim. It will be beyond gender and race.
Or will it? Stay tuned.
Last week, right in the middle of a holiday celebration for Martin Luther King, our presidential politics headed for the rocks in a sideshow of debate of who was the bigger victim, who was the better friend of the disenfranchised, who was the (insert your favorite preference here.)
Right after Bill Clinton had raised his voice in rebuke, right after some gentle folks in the Democratic Party had politely told Bill to "Shut UP", it seemed as though just when the patient was near death, there was a CPR or shock event that brought everyone to their senses:
Caroline Kennedy shot the cannonball across the bow with her article in the New York Times: This campaign will be about the NEW and not about the OLD. It will be about HOPE and a future that will utilize the skills that the current generation of leaders has shown that they do NOT have. It will be different. It will not be about being the better or more qualified victim. It will be beyond gender and race.
Or will it? Stay tuned.
OpEd; Reflections on "Mark to Market"
One of the questions that was asked by Sen Shumer today of Ben Bernanke, Chairman of the Federal Reserve was how to deal with markets that there is no price valuation for? Mortgage assets are valued at "fair valuation" and not "Market valuation". Shumer then asked why they could not use a rolling average 6 months backward bringing nostalgia....this was a technique used in the past for projecting the enrollment of some school districts by using a rolling average looking backwards when looking forwards---and this technique has been dismissed as ineffective.
One of the interesting things in retrospect about the crash of 1986 is that many stocks did not open after the crash, and for purposes of margin valuation, they were left at the last price that was traded. This was significant in that these positons of a portfolio thus were not liquidated at very low prices or contribute to liquidation on accounts that were heavily margined or under pressure. Thus----a trading halt is one technique that is used to slow down the impact of panic.
Recently the Feds asked lenders for a 30 day suspension on foreclosures, and one of the Presidential candidates, Hillary Clinton, asked for a suspension in foreclosures until a plan can be formulated. Such a suspension was used in the 1930's. Clearly the federal government is responding too slowly to this spreading problem and the failure to freeze these foreclosures could lead to a larger market panic.
Similarly, the Federal Reserve Chairman, Ben Bernnake mentioned at the very end of his remarks on Wednesday that he will submit rules for tighter mortgage lending practices that will outlaw banks pressuring appraisers for certain favorable appraisals as a condition of future business. It is hard to believe that there are not laws currently on the books that could be used to prosecute these violations. Posing that he needs additional authority is really just a method of delay.
In addition Mr. Bernanke mentioned an inquiry into abuses in the credit card industry. This investigation is going to happen way too slowly to be effective. In his own PhD thesis Mr. Bernanke wrote that speed was the key to avoid the cascading effects of a market event. A model credit card agreement with legislated language and format for rate disclosure may be required. It seems just a lot of hot air at this time.
After two days of testimony the Fed Chairman appears willing to forecast lower rates that will not be delievered to borrowers, predict a weaker economy and higher unemployment, and seems willing to allow the non-action of policy makers to drive prices of homes sharply lower midst the rising pain of unemployment and and rising foreclosres.
One of the interesting things in retrospect about the crash of 1986 is that many stocks did not open after the crash, and for purposes of margin valuation, they were left at the last price that was traded. This was significant in that these positons of a portfolio thus were not liquidated at very low prices or contribute to liquidation on accounts that were heavily margined or under pressure. Thus----a trading halt is one technique that is used to slow down the impact of panic.
Recently the Feds asked lenders for a 30 day suspension on foreclosures, and one of the Presidential candidates, Hillary Clinton, asked for a suspension in foreclosures until a plan can be formulated. Such a suspension was used in the 1930's. Clearly the federal government is responding too slowly to this spreading problem and the failure to freeze these foreclosures could lead to a larger market panic.
Similarly, the Federal Reserve Chairman, Ben Bernnake mentioned at the very end of his remarks on Wednesday that he will submit rules for tighter mortgage lending practices that will outlaw banks pressuring appraisers for certain favorable appraisals as a condition of future business. It is hard to believe that there are not laws currently on the books that could be used to prosecute these violations. Posing that he needs additional authority is really just a method of delay.
In addition Mr. Bernanke mentioned an inquiry into abuses in the credit card industry. This investigation is going to happen way too slowly to be effective. In his own PhD thesis Mr. Bernanke wrote that speed was the key to avoid the cascading effects of a market event. A model credit card agreement with legislated language and format for rate disclosure may be required. It seems just a lot of hot air at this time.
After two days of testimony the Fed Chairman appears willing to forecast lower rates that will not be delievered to borrowers, predict a weaker economy and higher unemployment, and seems willing to allow the non-action of policy makers to drive prices of homes sharply lower midst the rising pain of unemployment and and rising foreclosres.
OpEd: Getting the Order of Things Right
Economic Development Summit: The goal is to refine the objectives. 1)Workforce Development. 2)Downtown Revitalization. 3)Government Relations. 4)Marketing. 5)Entrepreneurial Environment."
This listing of the goals from the recent economc summit has a flaw. It is in the reverse order of priority. The keynote speaker of the conference was Terry Whipple and his speech was titled "Catch the Culture."
The rich environment for economic development is marked by openess to the new, by a tolerance of young, and yes flawed ideas that are being shaped and perfected. The rich environment is not marked by closed, rigid process that blocks through restraint of trade or quid pro quo arrangements where there are certain entities that require that they receive all the profit from the arrangement or the idea will be denied development.
In summary; Where there is restraint of trade and impediments to free flow of ideas, there will never be a vital economic process. There may be the show or "facade", but never the real thing.
This listing of the goals from the recent economc summit has a flaw. It is in the reverse order of priority. The keynote speaker of the conference was Terry Whipple and his speech was titled "Catch the Culture."
The rich environment for economic development is marked by openess to the new, by a tolerance of young, and yes flawed ideas that are being shaped and perfected. The rich environment is not marked by closed, rigid process that blocks through restraint of trade or quid pro quo arrangements where there are certain entities that require that they receive all the profit from the arrangement or the idea will be denied development.
In summary; Where there is restraint of trade and impediments to free flow of ideas, there will never be a vital economic process. There may be the show or "facade", but never the real thing.
OpEd: State of Wisconsin Wind Siting Process a Role Model for What and Who?
If you click on the post you can listen in as the Town of Union Board discuss the current situation of the Wind Turbine draft ordinance and the possible options for moving to enactment in consideration of the possiblity of the State of Wisconsin moving to make the Public Utility Commission the key entity in reviewing permits.
The irony----as you will recall the study committee had found in its research that the State of Wisconsin had literally conducted zero legislative inquiry into the health and safety effects of set backs of wind turbines despite the fact that the WHO and the world community had plentiful data on these matters.
Responding to that egg on the face, the state moved quickly last week in meetings that were called on short notice and as described by Kendell Schneider, Town of Union board chair, the lobby representatives were given ample time to speak and then with the time expiring in the open hearings, the public was given a few minutes---most left unheard and in disgust.
The conclusion made by the folks from Union who had endured the week of meetings----why would the towns bend over backwards to give extensive public input, when the State acts in such disregard.
At the end of the day nobody gets it. The problem was that in haste errors were made. Now to compound the error, more haste and closed decision making is embraced by the state....and now possibly by the towns.
How will these matters all be decided? By the PUC over a three martini lunch?
You make the call.
The irony----as you will recall the study committee had found in its research that the State of Wisconsin had literally conducted zero legislative inquiry into the health and safety effects of set backs of wind turbines despite the fact that the WHO and the world community had plentiful data on these matters.
Responding to that egg on the face, the state moved quickly last week in meetings that were called on short notice and as described by Kendell Schneider, Town of Union board chair, the lobby representatives were given ample time to speak and then with the time expiring in the open hearings, the public was given a few minutes---most left unheard and in disgust.
The conclusion made by the folks from Union who had endured the week of meetings----why would the towns bend over backwards to give extensive public input, when the State acts in such disregard.
At the end of the day nobody gets it. The problem was that in haste errors were made. Now to compound the error, more haste and closed decision making is embraced by the state....and now possibly by the towns.
How will these matters all be decided? By the PUC over a three martini lunch?
You make the call.
Subscribe to:
Posts (Atom)
