Posts Tagged “I&M”

By Jim Sack

The Irish have been reduced to beggars. One report notes that their debt is so great that it will cost each person $2,500 a year for the next 1,900 to pay off the debt. That is without interest. The government is shedding layers of employees, the private sector is shuttering shops and factories, foreclosures abound, taxes are going up steeply and the banks, the banks, are curtailing lending. Soon, the Irish will shed their current government only to find the next set of ministers can find no way out, either. They have huge debt and no reserves.

So, Ireland that fought so long and hard to gain her independence from London, is now beholding to…London, Berlin and Washington, to the big English banks, the German government and the International Monetary Fund.

What goes lightly reported is that the big guys, the senior bond holders, the first in line to be paid from liquidation of assets, will get almost everything out. The little guys, the shareholders, will get nothing.

The German government and taxpayers do not like this. Read the rest of this entry »

Tags: Fort Wayne City Council, I&M, Irish Depression, John Shoaff, Keith Busse, Liz Brown, Tom Henry

By Jim Sack

No one as so much as raised an eye brow when Tom Smith read the I&M-City deal into the record in preparation for the final vote, well, penultimate vote, last night. Some eyes darted from colleague to colleague, there was a careful smile, but no objections, no points made, no fingers thrust into the air, no beating of the chest over an arcane principle. Mr. Smith brought the matter to the table then Council President Marty Bender called for ayes and nays. It passed 9 to zero. Tim Haffner, the city corporate counsel sitting in row three, could have stayed at home and watch from his couch. Angela Boerger, the message mother for the city, could have enjoyed another hour of Wagner. Nobody on either side of the shifting aisle of local politics wanted to rock the boat, everybody is happy with this deal. Now, one more step at the state level and then it will be official. In fact, council members, members of the Henry Administration and some citizens are already conjuring up uses for the funds. Read the rest of this entry »

Tags: Casey Cox, Fort Wayne City Council, I&M, John Shoaff, Liz Brown, Tim Pape, Tom Oberfell, Tom Smith

By Jim Sack

One hour to deal with millions and millions and millions.

Friendliness.

Respect.

Thoughtfulness.

No rancor, no animosity, no moments when one council member snapped a reprimand at another council member. Only one mildly tacky moment.

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Tags: Dan Stockman, Fort Wayne City Council, Graham Richard, I&M, Keith Busse, Kirk Moriarty, Liz Brown, Tim Haffner, Tim Pape, Tom Henry, Tom Smith

By Jim Sack

A TV hit of the 50s and 60s was a series of stories about the results of sudden wealth. Each week Michael Anthony, the butler to the millionaire, John Beresford Tipton, would present a cashier’s check for one million dollars to someone chosen for the benefits or corrosive effect of sudden riches by Tipton.

Enter Tom Henry. Give him great credit for this coup, that being negotiating a much better settlement from I&M Power than they had first offered and that most anyone on council imagined he might achieve. Give also credit to Tim Haffner, the occasionally maligned corporate counsel, who led the team that got blood from that turnip. He has more than earned his keep. His dad would be proud. Oh, and thanks, too, to former Mayor Ivan Lebamoff who set the stage for this win many years ago.

So, now, let the trouble begin. Read the rest of this entry »

Tags: I&M, Tom Henry

US Agriculture Secretary Tom Vilsack has plans to save the planet, one fart at a time.

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Tags: City of Fort Wayne, Cow Farts, I&M, Tom Henry

The King has struck again. Today the all-mighty one King Henry, and his staff of legal beagles filed a counter suit against I&M. What’s that going to cost? Another $200K, maybe even $500K?

They’re claiming a breach of contract. We think it’s a breach of contract of the best interests of the citizens of Fort Wayne, but what the hell do we know?

The folly continues.

Tags: I&M, Tom Henry

The Henry administration has spent nearly $300,000 on attorneys, and almost $200,000 on consultants. That’s nearly $500,000 in their attempt to railroad I&M on the light lease contract. Of the $300,000 spent on attorneys, $197,464 was spent with Baker & Daniels, where Tim Haffner, the city’s corporate counsel is a partner.

Haffner gave $5,000 to Henry’s campaign on Sept., 5, 2008.

The Indianapolis law firm of Bingham McHale has been paid $14,881 for their efforts and there’s plenty more to come, since Bingham McHale is the lead law firm representing Fort Wayne.

J. Richard Kiefer gave Henry $500 on Jan., 31st, 2008. Mary Solada gave Henry $500 in the same year. Amy Stewart, $250. All of them work for Bingham McHale.

We’re just saying..

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Tags: Baker & Daniels, Bingham McHale, Fort Wayne, I&M, Tim Haffner, Tom Henry

I decided to take time from cleaning the gutters today to give a small retrospective of Mayor Henry’s term in office. I’ve listed below some of Henry’s major non-accomplishments. It’s not all-encompassing, so feel free to add your thoughts in the comments section.

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Tags: Budget, Earth First, Fort Wayne City Council, Glynn Hines, Gregg Walbridge, Hardball Capital, Harrison Square, I&M, Jerry Henry, John Shoaff, Jon A. Bragalone, Karen Goldner, Liz Brown, Marty Bender, Monosodium Glutamate, National Serv-All, Tim Pape, Tom Didier, Tom Henry, Vince Robinson

Yesterday the Board of Public Works approved paying NOVI Energy more money for more consulting.

This time, it’s $92,500 to “study” the use of biogas, hydropower and solar power. The city paid them in June for $95,000 so now we’ve spent close to $200K just to get opinions.

Who the hell are they kidding? This isn’t California folks, and the city can only lay claim to approximately 36,000 customers, if they have a claim at all. We currently receive $1.7 million per year from I&M, renegotiate the friggin lease and get it over with.

Henry and his minions are forgetting that I&M employs 352 employees with an annual payroll of $27 million. They pay $2.5 million in annual property taxes and donate $500,000 a year to local nonprofit groups. Last year they spent $12 million in the aftermath of the ice storm, bringing in over 1500 workers to restore power.

Don’t look a gift horse in the mouth.

Tags: Dumbass, I&M, Tom Henry