tag:blogger.com,1999:blog-21829866.post2433474190276154152..comments2023-08-20T07:06:14.115-04:00Comments on Thurber's Thoughts: Government loans to businessesMaggiehttp://www.blogger.com/profile/12677808307727487766noreply@blogger.comBlogger9125tag:blogger.com,1999:blog-21829866.post-863782113131005682007-01-13T12:30:00.000-05:002007-01-13T12:30:00.000-05:00You were correct in asking for the information tha...You were correct in asking for the information that you did and on how you voted. <br /><br />It's just too bad that the other commissioners weren't as interested, before spending our money recklessly.<br /><br />Let's hope that the newest commissioner is more business and financially astute and votes accordingly.<br /><br />Government loans should be used to lower the requesting businesses burden (interest-wise), not to go where the professionals fear to tread. . .Hooda Thunkit (Dave Zawodny)https://www.blogger.com/profile/13176392380086227377noreply@blogger.comtag:blogger.com,1999:blog-21829866.post-73599045408985055542007-01-08T02:16:00.000-05:002007-01-08T02:16:00.000-05:00There is no justification whatsoever for governmen...There is no justification whatsoever for government making direct loans to private businesses, and that goes double for retail outlets. Like with the City Paper's Dec 13-19 reporting on the property at 519 Monroe St., these loan schemes are merely (but outrageously) corruption whereby some businessman with political connections gets free money.<br /><br />The only way to fix this locally is to stop electing fiscal liberals into government. Alas, the LCC now holds a unamity of THREE fiscal liberals and I predict that they'll enact an unprecedented amount of taxation in order to prey on the fear and uncertainties that central CL residents are experiencing. Fearing the future of our unstoppable economic collapse, these three boobs will manage to pick every pocket in Lucas County more than once -- except the pockets of their yuppie buddies who will live even more lavishly on the stolen proceeds.Peahippohttps://www.blogger.com/profile/01249343346796502619noreply@blogger.comtag:blogger.com,1999:blog-21829866.post-72599014109699114042007-01-04T14:41:00.000-05:002007-01-04T14:41:00.000-05:00Bobthedad - there are examples where government lo...Bobthedad - there are examples where government loans have been a good idea. Most of those examples are where the owner has invested funds, a bank has provided some conventional financing and there is still a gap, which a government loan fills. These types of loans are for often for equipment purchases, are secured by the equipment and have job creation or retention requirements. Sometimes, there are government loans for infrastructure or building expansion/improvements. Again, the most common ones are for gap financing where the individual and a bank are already involved.<br /><br />The riskiest type of loan is for working capital or cash flow problems, like for Socrates Cafe.<br /><br />But you're right about elected officials who've never run a business making such decisions.Maggiehttps://www.blogger.com/profile/12677808307727487766noreply@blogger.comtag:blogger.com,1999:blog-21829866.post-64146157559266094482007-01-04T14:03:00.000-05:002007-01-04T14:03:00.000-05:00My personal pet peeve about government in general ...My personal pet peeve about government in general is that so few of the government officials have actual experience in running a business, but they always seem to act as if they know more about it than those that do. If all the banks turned down these loan requests can it simply mean the banks just may know what they are doing? I can imagine a scenario or two where a government loan may make some sense but I doubt if most of these would have fallen into that category.<br /><br />In order to balance this issue, are there examples of some govennment loans to businesses that were good for the taxpayers and if so, what made those situations so unique that traditional bank financing wasn't used?bobthedadhttps://www.blogger.com/profile/05042362004742846475noreply@blogger.comtag:blogger.com,1999:blog-21829866.post-9383747592178614252007-01-04T08:04:00.000-05:002007-01-04T08:04:00.000-05:00Kurt - the loan was secured by the equipment, and ...Kurt - the loan was secured by the equipment, and it is likely that the County will get some, if not all, the money back.<br /><br />But that's beside the point. The point we should all recognize is that it was a bad decision in the first place, regardless of whether or not a lawsuit and liquidation of assets will recoup the tax dollars. (And don't forget the unbudgeted costs of such a lawsuit and liquidation.)Maggiehttps://www.blogger.com/profile/12677808307727487766noreply@blogger.comtag:blogger.com,1999:blog-21829866.post-31952160724220830332007-01-04T00:00:00.000-05:002007-01-04T00:00:00.000-05:00Quick question Maggie, was this loan secured by th...Quick question Maggie, was this loan secured by the company's equipment? I assume it was because it was a low interest loan. If it was secured, then the county can probably at least get some of that money back.Kurt Burglarhttps://www.blogger.com/profile/02033135380727872658noreply@blogger.comtag:blogger.com,1999:blog-21829866.post-11388640172238036872007-01-03T21:20:00.000-05:002007-01-03T21:20:00.000-05:00-sepp...don't know if the business owner is 'conne...-sepp...don't know if the business owner is 'connected' or not. I suppose some enterprising individual could go check the campaign finance reports...<br /><br />But you do have a good memory - I'd forgotten about that other loan to a coffee shop pushed and supported by the same individuals.Maggiehttps://www.blogger.com/profile/12677808307727487766noreply@blogger.comtag:blogger.com,1999:blog-21829866.post-57394980283667374842007-01-03T21:03:00.000-05:002007-01-03T21:03:00.000-05:00Actually it sounds like another "connected" indivi...Actually it sounds like another "connected" individual got some free money. Isn't that the second coffee shop to get a low / no interest loan from the public dole and fail to repay it? I know for a fact the first person was well connected and, if someone was "instructed" by a commissioner to push this through, that has the earmarks of another connected jerk. I would like to know who it was that pushed this loan through and their relationship to the person who took our money.-Sepphttps://www.blogger.com/profile/11187463448901564093noreply@blogger.comtag:blogger.com,1999:blog-21829866.post-3356837244203351762007-01-03T17:16:00.000-05:002007-01-03T17:16:00.000-05:00It does sound as if they had some good plans but t...It does sound as if they had some good <a href="http://www.toledofreepress.com/?id=846">plans</a> but the City nor the County should be in the business of giving loans especially if there is some question as to the ability to re-pay.Anonymoushttps://www.blogger.com/profile/00606533906583651054noreply@blogger.com