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| Re: M.T.A. Cuts Delay Some Big Projects Until 2010 (639076) | |||
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Re: M.T.A. Cuts Delay Some Big Projects Until 2010 |
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Posted by trainsarefun on Tue Jun 24 18:30:53 2008, in response to Re: M.T.A. Cuts Delay Some Big Projects Until 2010, posted by Russ on Tue Jun 24 16:44:07 2008. First of all, it's nice to have you here, Mr. Sander.There was already an explanation. The revenue projections changed. They changed over the course of a few days? Now, for the third time, do you have any evidence that Lee Sander knew about the changes in revenue projections while he was promoting the MTA's plan? Let's go to the videotape, Mr. Sander. On March 3rd, you said, Here on the occasion of the MTA's 40th anniversary I have a lot of good news to share with you on that front. I have reviewed our 2008 revenues to date, which are in line with our budget projections. As a result, I will recommend to the Board that we move ahead with the service enhancements included in the financial plan. But this is what your colleague, Gary Dellaverson says to NYT on March 24th, excerpted, Gary J. Dellaverson, the authority’s chief financial officer, used words like “gloomy” and “frightening” to describe the decline in what has been a key source of the authority’s prosperity in recent years. Real estate tax revenues in February and March were below budget forecasts, which had already been trimmed back substantially from previous years. “We took these tax projections down quite dramatically from last year, and they are quite dramatically underperforming,” Mr. Dellaverson said. The real estate boom had helped fuel large budget surpluses at the authority, but Mr. Dellaverson said the two-month decline was a “cautionary flag.” We know that you, Mr. Sander, said on March 3rd that you had reviewed revenues "to date", whih even if we say that it didn't include any of March, must have included February, otherwise you plainly were incorrect in saying "to date"; this from a man who was just given a $10k raise. So how is it, Mr. Sander, that you got up at Cooper Union and said that 2008 revenues were in line with projections, when Mr. Dellaverson flatly contradicts you? Ascribing such a responsibility to any executive, agency, or private business for that matter, where this is not part of their core competency is severely divorced from reality. The expectation that Lee Sander and the MTA should possess economic analysis that is superior to that of professional financial analysts and economists is so ridiculous that neither Mr. Sander, nor the MTA should be expected to answer for that. Such an absurd view, however, does help to concoct the conspiracy theories that I've been reading. Mr. Sander, I believe that a man who is the chief executive of a multibillion dollar enterprise should know the difference between up and down. If that's not within your core competency, then you're in the wrong line of work. Secondly, a man should stand behind what he says in great public speeches. You might not think that you're responsible for what you say, but all the rest of us certainly do. If you can't stand the heat, find a new line of work. I eagerly await your reply |
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