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Archive for September, 2008

This DOWn market hits all

September 29th, 2008, 4:20 pm by Joe Grimes

The DOW plummeted Monday and for some reason this seemed more serious than past debacles.

Maybe it is because it follows so much uncertainty in our economic future. Maybe it is because the TV happened to be on as it moved from 490 points down to more than 700 points down in an hour or so.

The reality is it seems more real because I did, for the first time, exactly what I knew not to do: I looked at my 401-K retirement plan online.

It has lost nearly one-fifth of its value this year.

That makes it personal. When the Real estate market is bad, it hurts but not everyone suffers. When AIG fails, and it’s not even the biggest failure of the week, there is some hurting going on.

I jokingly told folks, before Monday, that I am the ostrich with its head in the sand as it goes to the bank failures and stock market fluctuations. I have no control over it, so I’d rather not know.

My head came out for a short time today and I’m having trouble getting it back under cover.

Yes, the plan is for the long haul. Things change. It’s not the first time the market has done this.

For the first time in years, since 9-11 really, I’ll be watching the opening tomorrow. I’d of been better off keeping my head in the sand another 20 years, but it is too late for that.

 

One of the first questions we are supposed to ask as journalists is: “How does this story affect you, the reader?”

It’s too cold to break out my dress

September 25th, 2008, 10:08 am by mcazalas

If you give the guy the benefit of the doubt, it’s hard not to feel a little compassion for Ryder Laramore after his arrest for driving under the influence and possession of methamphetamine.

It is not because he is a correctional officer facing disgrace. It is not because his father, a good man, holds public office.

It is because Laramore, 44, lives in rural Marianna and was, police said, wearing a black dress, black stockings and a blond wig when he was pulled over for erratic driving.

The DUI charge - he blew 0.0 on a breath test but refused a chemical test - can be handled. Even a possession of methamphetamine charge can resolve itself over time and with reformed behavior become a part of the past.

How in the world, though, especially in Marianna, do you explain to your buddies the part about the dress, stockings and wig?

The thought crossed my mind that there is little legitimate reason to be so stylishly dressed that late at night with Halloween still a month away. Especially with the cold snap we’ve settled into. You’d at least expect some leg warmers.

Then the thought crossed my mind that there are at least three occassions where charity functions required me to dig up dresses: a Goodwill event, a Hooter’s fundraiser and a Red Cross event at the Panama City Mall.

That would be hard to explain under the wrong circumstances.

Maybe Laramore was on his way to or from fundraiser, or a party for that matter. It’ll make things a lot easier with his hunting buddies, if they are anything like mine.

PC commission drifting from constituents

September 18th, 2008, 10:21 am by mcazalas

Something is in the air, and here’s hoping our elected officials smell it in time.

It’s not fall, though we are glad to feel a taste of that this week. It’s the wafting scent of disbelief as two cities talk about raising their millage rates as we watch our economy collapse around us on the local, state and national level.

Lynn Haven only slightly raised its millage rate, from 2.82 mills to 3.08 mills, but made up for that with a 4-percent hike in garbage rates to match the 4-percent increase approved a month ago for water and sewer rates.

Lynn Haven residents are used to having one of the highest overall millage rates of any place in the county, and often wonder exactly what they get in return for that honor. As a former resident there, I had the same concern and was never particularly appeased with the city’s explanations.

Rate and millage hikes there without obvious needs are more the norm, and less likely to raise eyebrows from weary taxpayers.

Panama City has gotten a lot of credit in this corner for being, as government goes, pretty good stewards of our tax dollars. They had lots of money to spend when times were flush, and while one could argue we don’t need all the amenities the city provies, one could also argue we have a lot of nice things to show for it. We have a nice parks system, clean marinas, effecient and professional police and fire departments, and a sense of order.

That made the commission’s near departure from its usual fiscal responsibility at its last meeting even more surprising.

No one is flush, now, few are making more money than they were last year and times are tight.

That did not deter two voting members of the Commission - Mayor Scott Clemons and Commissioner Jonathan Wilson - from pushing for an even higher millage rate.

The city already voted 4-0 that day to move the millage rate from 3.761 mills to 3.849 mills, the “roll forward” rate. That rate, essentially, is the millage neede to raise the same amount of money as the year before, and property values declined city-wide.

Following that vote, Wilson moved to raise the millage to 4.1325 at allow for some capital project. Clemons upped that, asking for the  maximum the state allows: 4.5 mills.

Thankfully, commissioners John Pilcher and Billy Rader were opposed and, with the absence of Commissioner Kathryn Hanline, the motion died a much-needed death.

Clemons said he worried about cutting the budget “too thin,” and affecting the quality of life that makes Panama City unique.

So what was in store with the extra money to be brought in with the increased millage? Well, it appears another park and a corridor study of some sort around the old airport.

This is not the year for another park, not when it entails an increased millage rate.

And we’ll save the airport argument for another day, but suffice it to say that the new owners of the airport property who plan to build a condo/business heaven purchased the responsibility of infrastructure needs when it purchased the property, and the city doesn’t need to bail them out.

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