Steven J Connolly

Sunday
Mar082015

Doing Democracy Best, Part II. 

Cont'd.

About this time both the Caledonian Record Newspaper and the Union Leader both had articles about the Balsam's and the Senate Bill 30 legislation. To me they looked they were written by the developer and the reporter simply affixed his/her name and the paper ran with it.

It is journalism. At least.

At this point I decided to contact my local state representative to see what other kinds of material(s) were out there beyond my limited knowledge. I ended up getting some good information here which is another advantage of having a "citizen legislature." How accessible are politicians and policymakers in places like Pennsylvania and Nevada especially with this kind of money on the table? Answer: not very accessible.

New Hampshire does do democracy best.I'm wondering if Vail Resorts would undertake a project like the Balsam's in NH.

My concerns would all be addressed days later at the hearing on Senate Bill 30 and Senate President Morse expressing the same concern(s) I had. The Senate Committee turned SB 30 into a "study committee." I think it's interesting to see how Sen. Woodburn, the only sponsor stated that "DRED had asked him to sponsor this bill." Is this an attempt at distance? The politics will go on.

Senate Bill 30 isn't done.

Right now I'm looking at the financial statements for Vail Ski Reports in Colorado, which is publicly traded. And unlike the Balsam's proposal, there is alot of information available-- I'm trying to determine whether Vail and it's market capitalization of $3.62 billion dollars could undertake a project such as the Balsam's. And this is with or without the New Hampshire $28 million dollar state loan guarantee.

If I have time I hope to show some of this math and financial analysis and use this as evidence as to whether the Balsam's re-development has a chance to be successful.

I still say it doesn't.

 

 

Saturday
Mar072015

Doing Democracy Best. 

"New Hampshire does Democracy best."- Gov. Maggie Hassan.

Gov. Hassan has this quote correct. New Hampshire does do democracy best. I recently experienced this.

Senate Bill 30.

If this had been any other state besides New Hampshire this state loan guarntee probably would have gone through. And I'm talking about places like Pennsylvania, New York and places out west let's say Nevada and Wyoming. A state loan guarantee of $28 million for an upscale resort to create jobs. In theory it's actually a good idea.

In theory.

The Balsam's wasn't even on my radar screen. I hadn't even heard of Senate Bill 30 never mind the fact that my own State Senator Jeff Woodburn was the primary and only sponsor. So I'm in my local coffee shop at 0610 on a freezing cold February morning enroute to the salt mine and I'm listening to the daily typical banter that some of the "townies" talk. It's usually about town politics and what the town shouldn't be spending.

On this morning three contractors were there, not locals or at least I don't know them. And they're talking or at least agreeing with some of townie material that is in the air. So I'm drinking my coffee listening to all this. And one of them brings up the Balsam's. "Yeah I've got a lead on a really good contract there." one says. And he goes on, "I'm in roofing, there is alot of roofing needed they're revitalizing the whole property, huge project."I'm still listening to this, some might call it eavesdropping but this is a public place, and I used to work at the Mount Washington Hotel and have been on their roof numerous times. So then one contractor says to the other, "I might be getting a $190,000 contract on a job that costs $80,000" then he chuckles a little bit, "The state's paying for it."

The state's paying for it. Really.

The political side of my brain instantly starts thinking: "In other words this is a way to rip the state off and get a nice profit at the same time." $110,000.00 to be exact.

Then the accountant side of my brain tried to rationalize this: commercial roofing is expensive, expensive to buy, labor costs, etc. This contractor whom I don't even know might not even be quoting the whole contract-- there is probably information that they know because it's their conversation! It very well could be a $190,000.00 and the $80K is simply their portion of it.Roofing Is Expensive. But This Is What Led Me To S.B.30 And Gaining Insight Into It's Content. New Hampshire Does Do Democracy Best.

This is the problem in getting involved in rumors, speculation, banter and third party conversations. It just leads to problems. Follow The Facts Always Follow The Facts.

In any case I finished my coffee and had to get on the road but I decided to try and find out what I could about this whole "Balsam's project."

It wouldn't take long for the information to come in.

To Be Continued...

 

 

Friday
Mar062015

Leading To Poverty. 

"Peoples do never govern themselves. That lunacy was concocted by liberalism. Behind its "people's sovereignty" the slyest cheaters are hiding, who don't want to be recognized."- Josef Paul Goebbels.

Plenty of lunacy going on here in New Hampshire.

It's -15 degrees where I'm at. It's cold. Global warming, Blame Bush.

Today up in here in northern NH another shoe dropped, more loss of jobs.

Hitchner Manufacturing is announcing the closure of its operation(s), I'm reading at least 250 full-time jobs go away, or, possibly relocated to Milford, NH. Of course the reason stated was "consolidation" which I'm sure has nothing to do with the real reasons: New Hampshire and what emanates from Concord.

Both political parties are to blame here. Both Political Parties Are Leading NH To Poverty.

Hitchner has been in Littleton since 1984 and manufacturers metallurgical items such as rocker arms for engines, and parts that require advanced machining and engineering specifications. When I first ran for the NH House I found, Hitchner unlike other employers very supportive of campaigns and the electoral process. For example, they allowed campaigning on their property, they give tours to candidates and allowed their employees to ask question(s) of the candidates. The jobs here also were of a higher calibre like their products, I think the starting range for jobs was at least $15.00/hour plus benefits. These won't be replaced in Littleton.

I'm starting to think the only people that have jobs are retired people. Being retired. Live Free Or Die.

I'm also picturing what the response to Concord is going to be. Leading New Hampshire right into poverty.

Consider what the future of New Hampshire could look like: strip malls, mixed use properties, recreational areas, Lowe's, McDonald's and Walmart. Tourists come up here on the weekends driving shiny SUVS with Mass. plates. Then they go home on Sunday.

Live Free Or Die.

 

 

 

Thursday
Mar052015

NHGOP Misdirection? 

"And now bills were passed, not only for national objects but for individual cases, and laws were most numerous when the commonwealth was most corrupt."- Tacitus. The NHGOP Should Be Advancing A Reasonable Alternative To "Business As Usual." They Are Not.

I'm really not understanding what the NHGOP is doing in terms of it's political strategy.

As if there isn't enough kindling around to start a major fire, this state political party seems more interested in travel records and organizing yet another "summit"so a parade of potential presidential candidate(s) can come to New Hampshire to talk about the same boring material that appears in their press releases, which, no one is reading anyway.

Right now I'm reading both the house and senate calendars and journals. All kinds of new things happening out there, especially for a small state with big state financial issues.

The state budget deficit remember this one.

 

 

Thursday
Mar052015

Doing It Correctly. 

During my past few blogs I've been very critical of Senate Bill 30 and the very idea of using a state loan guarantee to finance what I think is an overly ambitious, unprecedented project at the Balsams. I'm also discouraged by the politics that surrounds this whole idea whether this is elected officials like Gov. Hassan, Sen. Jeff Woodburn or appointed officials like DRED Commissioner Rose.

Bad idea. Bad politics.

I'm actually of a supporter of state loan guarantees done by the Business Finance Authority, provided they are done correctly.

An example which just happened just recently. The Executive Council approved a "state loan guarantee" for Tender Corporation in Littleton, NH so that they may expand and create at least 10 full-time new jobs. This is an example of how it was done correctly. I don't have the contract in hand but I'm of the belief it is for no more than five million dollars. $5,000,000.00. Tender Corp. Manfacters Insect Repellent. New Hampshire Got This One Right. The Balsam's Project Should Be Scrapped.

This is an established business that makes insect repellent. I'm sure this established business has over $50 million in capitalization, equipment and accounts receivable that could be used to pay the loan, if there was a default. New Hampshire is doing a good thing here. They are supporting a local business to expand and create new jobs, while not exposing the taxpayer to any risk if the project does not go well.

Now compare this loan with the Balsam's as stated in Senate Bill 30.

See what I mean about the bad politics?