Santos we have questions

[Guest Guest]

Mighty cocky for someone who is dead wrong!!

"A bit girlee"? Gee, can't a guy get in touch with his feminine side without causing remarks like that? Say it again, and I'll hunt you down and hit you with my purse!

<{POST_SNAPBACK}>

Sure a guy can......and I'm sure this guy does. (needs a new wardrobe)

[Guest MangWarp4]

The use of ellipsis in that quote was meant, I guess, to confuse, spin and warp your position. You really are making it up at this point.

Mangin says,

Bond insurance has nothing to do with a municipality's financial status. Insurance is a tool used to achieve a more attractive rate and save money. But, you probably don't believe that because I said it, right?

Yes, in part because you said it and you spin, warp and lie. But mostly I don't believe it because it's wrong. Any municipal auditor or reputable municipal treasurer would tell you you're wrong.

From The Bond Market Association:

Municipal bond insurance protects investors primarily in two ways.

Occasionally, cities or states that issue debt securities get into financial difficulty. When that happens, they may not be able to pay interest and principal on their debt as scheduled. Even if an issuer does not default, the rating agencies may lower the ratings on an issuer’s securities if its financial condition deteriorates, causing the market value of its securities to decline. Investors in bonds insured by Triple-A rated municipal bond insurers are insulated from these risks because they can depend on the insurer, whose claims-paying ability is rated Triple-A, to make timely payment of scheduled principal and interest. The strong demand for insured issues (almost half of all new issues are insured) is due to investors’ desire for secure investments.

In addition, when an issuer faces financial difficulties, history has shown that its insured bonds have more liquidity and price protection than its uninsured bonds. Issuers often prefer to offer their bonds with the highest ratings in order to lower borrowing costs.

[Jim Mangin]

From The Bond Market Association:

Municipal bond insurance protects investors primarily in two ways.

Occasionally, cities or states that issue debt securities get into financial difficulty. When that happens, they may not be able to pay interest and principal on their debt as scheduled. Even if an issuer does not default, the rating agencies may lower the ratings on an issuer’s securities if its financial condition deteriorates, causing the market value of its securities to decline.  Investors in bonds insured by Triple-A rated municipal bond insurers are insulated from these risks because they can depend on the insurer, whose claims-paying ability is rated Triple-A, to make timely payment of scheduled principal and interest.  The strong demand for insured issues (almost half of all new issues are insured) is due to investors’ desire for secure investments.

In addition, when an issuer faces financial difficulties, history has shown that its insured bonds have more liquidity and price protection than its uninsured bonds. Issuers often prefer to offer their bonds with the highest ratings in order to lower borrowing costs.

<{POST_SNAPBACK}>

And isn't this exactly what I said? Insurance protects investors and helps municipalities by allowing them to offer their bonds with the highest ratings in order to lower borrowing costs. Like I said, it's a tool used to save money.

Next question.

Jim Mangin

[Guest guest]

 

Listen  we know who you are and we do not care your house will not have a view of this landfill ?? That ends that. What about the lease was not signed and Santos has the money. Something sounds strange here..............

<{POST_SNAPBACK}>

Al Realist doesnt want to hear this. Go Al the puppet show needs you.When Santos starts his Town meeting he should welcome everyone to his silly show by saying its HOWDY DOODY TIME WITH ALL MY PUPPETS.........

[Jim Mangin]

And isn't this exactly what I said? Insurance protects investors and helps municipalities by allowing them to offer their bonds with the highest ratings in order to lower borrowing costs. Like I said, it's a tool used to save money.

Next question.

Jim Mangin

<{POST_SNAPBACK}>

What happened? No more bonding questions?

OK, I'll ask one. Now that the Board of Education has climbed aboard the bonding bandwagon, how many people think that the school bond will pay for the stadium wall that crumbled on Davis Ave? I'll admit it. I thought the bond was to be used to pay for the wall, but it's not.

Since the Board of Ed made the decision to not include the wall in the bond they should have money for it elsewhere in the budget. But do they? Is there an extra $750,000 in the budget to fix the wall? I'm not so sure. If there is why hasn't anything happened yet with this project?

Even I would have supported the notion that bonding is a proper financing vehicle to fix the wall. The improvements will last much longer than 5 years (unlike the shirts and pants the Town bonded for). And a Bond Anticipation Note could be used to get the BOE money for the wall immediately while preparing for a bond sale. Instead the wall stays down. Is there money for this project or not?

Stay tuned. I feel another bond coming! We haven't maxed out our credit cards yet.

Jim Mangin

[JoeW]

What happened? No more bonding questions?

OK, I'll ask one. Now that the Board of Education has climbed aboard the bonding bandwagon, how many people think that the school bond will pay for the stadium wall that crumbled on Davis Ave? I'll admit it. I thought the bond was to be used to pay for the wall, but it's not.

Since the Board of Ed made the decision to not include the wall in the bond they should have money for it elsewhere in the budget. But do they? Is there an extra $750,000 in the budget to fix the wall? I'm not so sure. If there is why hasn't anything happened yet with this project?

Even I would have supported the notion that bonding is a proper financing vehicle to fix the wall. The improvements will last much longer than 5 years (unlike the shirts and pants the Town bonded for). And a Bond Anticipation Note could be used to get the BOE money for the wall immediately while preparing for a bond sale. Instead the wall stays down. Is there money for this project or not?

Stay tuned. I feel another bond coming! We haven't maxed out our credit cards yet.

Jim Mangin

<{POST_SNAPBACK}>

At the last BOE meeting a bid was accepted for the wall project. Don't recall the specifics, but if you had called Les before posting, you would have had your answer. But that didn't fit your needs now did it?

JW

[Guest Guest]

At the last BOE meeting a bid was accepted for the wall project.  Don't recall the specifics, but if you had called Les before posting, you would have had your answer.  But that didn't fit your needs now did it?

JW

<{POST_SNAPBACK}>

Where's the money coming from?

I guess answering Mangin's question didn't fit your needs.

[Jim Mangin]

At the last BOE meeting a bid was accepted for the wall project.  Don't recall the specifics, but if you had called Les before posting, you would have had your answer.  But that didn't fit your needs now did it?

JW

<{POST_SNAPBACK}>

Joe,

You're saying the BOE awarded a contract for this project at the last meeting? You can't accept a bid without awarding a contract. And you can't award a contract without knowing where the money is coming from. I'd check your facts.

As for me calling Les, I don't think so. Over the last 10 years I've probably posed more finance questions to School Business Administrator Les Gaulton than anyone else, with the possible exception of Mike Martello. I can honestly say, his answers were always evasive at best and I'd end up checking and researching myself. I did this as a member of the public, as a member of the Board of Ed's Finance Committee and as a member of the Town Council's Finance Committee.

I'll tell you what "fits my needs" though - all I've ever asked for is the public to be aware. Be aware of how much we've borrowed. And be aware of what we're spending money on. That's all. If the BOE "finds" the money for the wall project, that's great. But, it will prove my point that they've over-appropriated other accounts to generate more surplus than they need. That's not what I call a bare-bones budget.

Jim Mangin

ps - You and I have been posting on this board longer than anyone else. The difference between us is that I have no problem offering opinions on issues. You have no problem offering opinions on people.

[oldfart56]

Joe,

You're saying the BOE awarded a contract for this project at the last meeting? You can't accept a bid without awarding a contract. And you can't award a contract without knowing where the money is coming from. I'd check your facts.

As for me calling Les, I don't think so. Over the last 10 years I've probably posed more finance questions to School Business Administrator Les Gaulton than anyone else, with the possible exception of Mike Martello. I can honestly say, his answers were always evasive at best and I'd end up checking and researching myself. I did this as a member of the public, as a member of the Board of Ed's Finance Committee and as a member of the Town Council's Finance Committee.

I'll tell you what "fits my needs" though - all I've ever asked for is the public to be aware. Be aware of how much we've borrowed. And be aware of what we're spending money on. That's all. If the BOE "finds" the money for the wall project, that's great. But, it will prove my point that they've over-appropriated other accounts to generate more surplus than they need. That's not what I call a bare-bones budget.

Jim Mangin

ps - You and I have been posting on this board longer than anyone else. The difference between us is that I have no problem offering opinions on issues. You have no problem offering opinions on people.

<{POST_SNAPBACK}>

JIM HES A JOCK AND TRUE TO BEING A JOCK THEY JUST WANA FIGHT OVER NOTHING! DOES HE NOT WORK FOR THE TOWN? IS HIS JOB PAID BY THE TOWN? IF HE DOES THEN HE IS STEELING FROM IT BY POSTING ON TOWN TIME! CHECK HIS POSTING TIMES! AND DAYS! HE DOES MORE POSTING THAN MOST WORKERS YES I DO TOO BUT IAM RETIRED HES NOT! PS JUST LIKE MOST JOCKS HE IS A BULLY ! YOUR RIGHT!!!!!

[JoeW]

ps - You and I have been posting on this board longer than anyone else. The difference between us is that I have no problem offering opinions on issues. You have no problem offering opinions on people.

Yeah...I'm good that way.

JW

[Guest Guest]

Yeah...I'm good that way.

JW

<{POST_SNAPBACK}>

Great disclaimer. Way to take a stand.

[KearnyNJ]

Whoa, WHOA, f**king WHOA! FIrst off, I just realized who Joe W is and damn does that guy S**K! First of all, you have way too much time on your hands, man. Second of all, Jim always gives us a well thought out, novel of a post, supported by facts and you always comeback with a stupid quip, a short opinion or (and this is very rare) a short idea. You're just a shit-talking, mud slinging, idealistic piece of shit and i hate you more now that I know your ugly face. Your son is a cool cat though... i suppose. And you must love vicariously reliving your track days through him. It's a sweet deal you got passing those jeans down to him, seeing as you still take so much pride in your highschool sports days. Rofl. Keep up the good work, Jim... As a Shop-Rite manager, as a great dad, and a person who cares about this town. As for you, Joe... well just keep being an uptight a%%%%%%e who cna't let go of the past.

KOTW Note: The above post was edited for content where the % appear

[Guest Guest]

Sure a guy can......and I'm sure this guy does. (needs a new wardrobe)

<{POST_SNAPBACK}>

Sure does...never opens his purse either. Then again, there's the quippy guy who's the freeholder.

[Guest Guest 1]

Oh those glory days.......

[Guest Guest]

Oh those glory days.......

<{POST_SNAPBACK}>

What glory!!!

[Guest THE SILENT MAJORITY]

ANSWER THE TOWNSPEOPLE MAYOR SANTOS!!!!! WHAT ABOUT OUR PROPERTY TAXES!!!!! WHY ARE THEY SO HIGH!!!!!!!

[Guest BERT DIAZ PUBLIC SCHOOL PRINCIPA]

ANSWER THE TOWNSPEOPLE MAYOR SANTOS!!!!! WHAT ABOUT OUR PROPERTY TAXES!!!!! WHY ARE THEY SO HIGH!!!!!!!

<{POST_SNAPBACK}>

[/quote Mayor Santos and his assistant, Mary Torres, 21 year Kearny Board of Education member, will NOT answer because they can NOT blame ex Mayor, Leo Vartan any more THE JIG IS UP!!!!!FACTS, REALITY DATA,INFORMATION and EVIDENCE all point to POOR FISCAL MANAGEMENT( Mr. Jim Mangin was right) UNSATISFACTORY PLANNING AND ORGANIZATION, STAFFING BASED ON NEOPOTISM, DEFECTIVE REPORTING and INADEQUATE BUDGETING. That is the truth and they will continue to blame Leo Vartan. Mayor Santos and his assistant, Mary Torres MUST AND WILL GO!!!!!!!.

[oldfart56]

ANSWER THE TOWNSPEOPLE MAYOR SANTOS!!!!!    WHAT ABOUT OUR PROPERTY TAXES!!!!!  WHY ARE THEY SO HIGH!!!!!!!

<{POST_SNAPBACK}>

if santos lips are moving he is lying!!!!!!!!

[Jim Mangin]

Did anyone else notice that as soon as the NJ Meadowlands Commission got their hands on a signed agreement from the Town of Kearny to re-open Keegan, they announced that the golf course will not be built in Kearny.

The NJMC admits to being responsible for cleaning this landfill. Why won't they admit responsibility for cleaning Keegan as well? (And I mean cleaning it without re-opening it). The NJMC is just one of three "responsible parties" who should have to pay to properly close Keegan without subjecting the people of Kearny to another open landfill.

I've said it before - worst policy decision in Kearny in the last 30 years. It even makes the water deal look good by comparison.

Jim Mangin

[oldfart56]

Did anyone else notice that as soon as the NJ Meadowlands Commission got their hands on a signed agreement from the Town of Kearny to re-open Keegan, they announced that the golf course will not be built in Kearny.

The NJMC admits to being responsible for cleaning this landfill. Why won't they admit responsibility for cleaning Keegan as well? (And I mean cleaning it without re-opening it). The NJMC is just one of three "responsible parties" who should have to pay to properly close Keegan without subjecting the people of Kearny to another open landfill.

I've said it before - worst policy decision in Kearny in the last 30 years. It even makes the water deal look good by comparison.

Jim Mangin

<{POST_SNAPBACK}>

JIM look at the kennedy problem" santos lyed about fixing this problem! how long does MR KENNEDY have to wait? and how will kearny ever pay to fix the crap santos has dumped in your lap/or head? would you please help MR KENNEDY with this crap! maybe call the tv news about it!

[Guest Gwashington]

Who is/are the bright politician(s) to let the medowlands commission turn down the golf course which would have been a nice revenue generator in kearny along with a property value raiser

[Guest Guest]

Did anyone else notice that as soon as the NJ Meadowlands Commission got their hands on a signed agreement from the Town of Kearny to re-open Keegan, they announced that the golf course will not be built in Kearny.

The NJMC admits to being responsible for cleaning this landfill. Why won't they admit responsibility for cleaning Keegan as well? (And I mean cleaning it without re-opening it). The NJMC is just one of three "responsible parties" who should have to pay to properly close Keegan without subjecting the people of Kearny to another open landfill.

I've said it before - worst policy decision in Kearny in the last 30 years. It even makes the water deal look good by comparison.

Jim Mangin

<{POST_SNAPBACK}>

how true.

[Guest BERT DIAZ PUBLIC SCHOOL PRINCIPA]

ANSWER THE TOWNSPEOPLE MAYOR SANTOS!!!!! WHAT ABOUT OUR PROPERTY TAXES!!!!! WHY ARE THEY SO HIGH!!!!!!!

<{POST_SNAPBACK}>

[/quote Mayor Santos and his assistant, Mary Torres, 21 year Kearny Board of Education member, will NOT answer because they can NOT blame ex Mayor, Leo Vartan any more THE JIG IS UP!!!!!FACTS, REALITY DATA,INFORMATION and EVIDENCE all point to POOR FISCAL MANAGEMENT( Mr. Jim Mangin was right) UNSATISFACTORY PLANNING AND ORGANIZATION, STAFFING BASED ON NEOPOTISM, DEFECTIVE REPORTING and INADEQUATE BUDGETING. That is the truth and they will continue to blame Leo Vartan. Mayor Santos and his assistant, Mary Torres MUST AND WILL GO!!!!!!!.

<{POST_SNAPBACK}>

How about if we keep blaming ex Mayor Leo Vartan???Remember???That was the BIG strategic slogan for the longest time. I GUESS WE WORE THAT ONE OUT. I was one of the MANY Kearny citizens who use to believe that LIE also. The Facts are THE BRUTTAL FACTS and they speak for themselves...ALSO MY PUBLIC APOLOGIES TO LEO VARTAN FOR HAVING BEEN INFLUENCED BY MAYOR SANTOS AND MARY TORRES TO BELEIVE THOSE LIES!!!!

[Guest what a farse]

How about if we keep blaming ex Mayor Leo Vartan???Remember???That was the BIG strategic slogan for the longest time. I GUESS WE WORE THAT ONE OUT. I was one of the MANY Kearny citizens  who use to believe that LIE also. The Facts are THE BRUTTAL FACTS and they speak for themselves...ALSO MY PUBLIC APOLOGIES TO LEO VARTAN FOR HAVING BEEN INFLUENCED BY MAYOR SANTOS AND MARY TORRES TO BELEIVE THOSE LIES!!!!

<{POST_SNAPBACK}>

Leo never sold the water Dept. And some day the town will wish he did! This was the lie that gave us the council we now have. At least Leo lowered Taxes. the same crew leo chased out are back in power.

[Guest Guest]

Is jean Burns husband still on the njmc or is his term up?