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Tuesday October 7, 2008

More Self-Congratulatory Blather about Pennsylvania’s Job Picture The Governor remains optimistic about Pennsylvania’s job situation. He compares employment changes in the Commonwealth to the nation as a whole and notes in the August Employment Report that ‘Pennsylvania’s economy has performed well.’ He blames employment losses the Commonwealth has incurred on the national economy and promises to throw more taxpayer money on economic development projects—a strategy he has employed since taking office in early 2003 which has had little, if any, effect on the state’s employment levels. The Governor’s position is that if the state’s jobs are growing it is because of his policies, if the jobs are slowing or shrinking, it is the fault of the national economy. A good PR ploy if you can get away with it. Continue

Uncovering the True Cost of Government Retiree Benefits State and local governments across the nation are coming face to face with the true cost of post-retirement benefits thanks to an accounting rule change mandated by the Governmental Accounting Standards Board (GASB). Under GASB Statement 45 of 2004, governing bodies have to disclose and determine the long term liabilities associated with post-retirement benefits other than pensions, also referred to as OPEB. Continue

Does the Developer Have Money for the Grand Plan? Pittsburgh’s leaders continue to insist that economic development projects be based on ‘visions’ rather than reality. Obviously, lessons from the failed Lazarus and Lord and Taylor’s department stores were not learned. The latest episode involves building a long awaited grocery store in the Hill District. District residents and the City’s Urban Redevelopment Authority must decide between two proposals, a relatively modest but fully adequate low cost store and a more extravagant development that would include a ‘super’ market with a dry cleaner and pharmacy. Continue

Events

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