Archive for March, 2012
March 30, 2012
I, like thousands of Memphians, read the weekly Memphis Flyer, a well written and popular local newspaper. The issue of School Consolidation and all its various ramifications, twists and turns has been well covered by the Flyer. Jackson Baker asked me about my thoughts and opinions on this consolidation and I told him about what I considered two important issues, the land and buildings in the six incorporated cities in Shelby County and the OPEB issue. He asked that I write an article for the issue that came out yesterday. Here it is in case you did not pick up the current print issue or you did not read it online at the Memphis Flyer’s very interesting website. Read it and let me know what you think.
March 29, 2012
It is not often that I get a news scoop but I decided today to go to the City of Memphis Pension Board meeting at City Hall. Item #7 on the agenda listed POSSIBLE RECALLS. I wondered if this could possibly be the beginnings of the movement to enforce the existing pension ordinance concerning disability, (more…)
March 21, 2012
In my last post I asked the question “Why are public health care costs so different?” Yesterday I listened to the City Council discussion concerning the proposed property tax increase. There is an obvious savings that could amount to over $6 million dollars next year and every year thereafter. Read on.
I have attached a spreadsheet showing the various retiree health care rates at the City of Memphis versus Shelby County and comparing the cost to the (more…)
March 14, 2012
As we search for savings to reduce our taxes and utility bills, I dare to point out the following facts.
Active public employee family health care plans:
MLGW-PPO plan 661 members @$18,646.32 per year total cost with MLGW paying 75% or $13,984.74 per year.
Memphis—basic plan- $11,769.60 per year total cost with the City paying 70% or $8,238.72 per year.
Difference is $5,746 per year per family. If the MLGW was brought back to the Memphis rate this would save the rate payers $3.8 million per year.
There are many other comparisons particularly in the various classifications such as single active employees, retirees under 65, retirees over 65 and special plans, some as high as $29,785 total annual cost at the MLGW.
However, the biggest area of potential savings are those retirees that are eligible (or their spouse is eligible) for Medicare. Here is where a bit of history (more…)
March 6, 2012
I have been studying the financial statements of the MLGW and I have to ask the above question, HOW MUCH IS ENOUGH?
Consider the following comparisons between the 2005 and the latest 2010 financial statements.
MLGW increase in net assets 2010 compared to 2005. $364 million dollars
MLGW increase in working capital 2010 compared to 2005. $172 million dollars
MLGW increase in customers 2010 compared to 2005. NONE (essentially 420,000 customers)