Wall Street investments drop by 500 points! This is going to take level headed management by our BOA!
Please click on the header for the results of this day on Wall Street! To say the least monies to loan will be in very short supply for a while, as banks try to improve their cash positions. From what I heard today some of the lending institutions are highly leveraged, meaning that for every dollar they have in hand, they have over twenty loaned.
Where does Crestwood come into play you ask? Well, good question my friends. Our Mayor, BOA, and City Administrator will need the best financial guidance they can get to ride this storm out, and sooner rather than later!
I am thankful that we have such people as Alderman Nieder, Miguel, Roby, and Pickle on the Board during this mess, as we will need them. Also let's not forget Mr. Ekridge, who will be spending long hours on our behalf!
To the "Ways and Means" committee, may you do your deliberations with all due diligence, and may we ride this out as a result!
Tom Ford
NO. 549
Where does Crestwood come into play you ask? Well, good question my friends. Our Mayor, BOA, and City Administrator will need the best financial guidance they can get to ride this storm out, and sooner rather than later!
I am thankful that we have such people as Alderman Nieder, Miguel, Roby, and Pickle on the Board during this mess, as we will need them. Also let's not forget Mr. Ekridge, who will be spending long hours on our behalf!
To the "Ways and Means" committee, may you do your deliberations with all due diligence, and may we ride this out as a result!
Tom Ford
NO. 549
posted by Crestwood Independent at 17:40
6 Comments:
If lending monies dry up, then where will the developers get the cash they need to complete their plans?
Ways and Means, make cut dept heads 10% off their 2008 budgets for 2009.
By the way who makes up Ways and Means this year?ft
9:06 AM Blogger: A very good question my friend. Who indeed will be left to loan that kind on money to someone "on the come" so to speak?
I should think a lot of developers will be pulling in the horns for some time to came. I see it every day in Illinois where projects are "put on hold" until the economy improves, and were going to see it here also.
I have a friend who "rehabs" in the housing market (in Illinois,) who has been able to buy house's for 5% down until last Friday. Now the bank wants 50% down for a "fixer upper!"
Ridiculous? You bet!
Tom Ford
12:36 PM Blogger: Good question! The last thing I have been able to come up with is as follows.
Mayor Robinson
Alderman Jerry Miguel
Alderman John Foote
C/A Jim Eckrige
This may be way off as the info I have is outdated, and the City web site does not tell us.
Tom Ford
After this Tuesday's BOA meeting the Ways and Means will consist of
Jerry Miguel
Roy Robinson
John Foote
Chris Pickle
can't be, only 2 aldermen on ways and means.
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