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This page contains a single entry from the blog posted on October 30, 2007 8:24 AM. The previous post in this blog was Boycott the other Sam Adams, too. The next post in this blog is Dear Governor Ted. Many more can be found on the main index page or by looking through the archives.

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Tuesday, October 30, 2007

Another SoWhat setback

The high-tech, vibrant, creative, sustainable Shangri-La known as the SoWhat district is shaping up to be a colossal bust. Not only are the condos not selling, but now the big OHSU campus that was going to be the only interesting thing about the place has been placed on indefinite hold as well:

OHSU President Joe Robertson told The Oregonian that the university has sufficient resources for the next 20 months, but that its current financial course is "not sustainable."

Robertson declined to speculate how the university might address the growing losses or say whether cost-cutting alone could close the gap. OHSU will complete unfinished space in its new hospital wing, he said, because that will bring additional profits. But the university will not go forward with other plans, including a medical school campus on Portland's waterfront, until it stabilizes its finances.

"We cannot embark on development that will strain our finances," said Robertson, president since September 2006. "Our university has to be self-sustaining."

Translation: The whole thing is out of money. Looks like Vera and Sam's breathtaking gamble is going down in flames. What insanity. But look on the bright side: Cirque du Soleil will have lots of empty lots to choose from for many years to come. Go by streetcar!

Comments (17)

luckily, they didn't base development decisions on promises like "10,000 new biotech jobs" or something. *that* would've been silly.

If Portland was a patient, and an aerial view of OHSU was an X-ray, the good doctors on the hill would immediately be alarmed. Maybe the healthy part of the organ can be saved, but the malignant growth must be addressed immediately, before it kills off the city. And our local politicians? They were the risk factors that led to the cancer.

Hmmm, perhaps we should never have voted to allow OHSU to function as a quasi-independent business. Oh well, another day, another debt.

I'm trying to think of an entity that has been propped up more than OHSU: They've gotten mammoth construction and transportation subsidies and an oh-so-friendly cap on malpractice liability.

Luckily, there's hope on the horizon: This will give the legislature a place to put the Measure 50 Ciggies-for-Kiddies cash if that gets passed.

There's no such thing as a free linchpin.

Go back and read Brainstorm's expose of the OHSU scam way back in 2003 at http://www.brainstormnw.com/archive/feb03_feature.html

They called it then. This is another great example of corruption, Oregon style. Right down to the part about nobody being held accountable.

Well, if Vera/Sam can't find the 10,000 bio-tech jobs, I hope they are still searching for the 10,000 family wage jobs!!

Roger has it right. Whether its the ciggie tax dollars, or the state general fund, or the ctyOHSU will again have its hand out for public bucks and a baiil out.

And Amanda will be leading the charge on the City Council to bail out "...the largest employer in the city..." and its union employees.

Maybe Amanda will make a pre election public pledge - "No city funds of any sort to bail out OHSU".

You Amanda fans on here need to realize she is no more fiscally responsible than Sam the Scam or Opie or Big Pipe or Fireman Randy. Amanda just wants to direct the borrowed money to her pet projects, financial consequences be damned.

Come on Amanda , prove me wrong, take the pledge. "No city money foer OHSU".

Its easy to say.

Didn't think so.

"Amanda just wants to direct the borrowed money to her pet projects, financial consequences be damned."

And some blowhard commenters like to pretend that they know what they're talking about, facts and evidence be damned.

"Come on Amanda , prove me wrong, take the pledge. "No city money foer OHSU"."

From what I remember, Amanda was very anti-tram during the election, and went on record stating that it should be torn down mid-construction before additional tax were expended to complete the project.

You seem to be attacking her because she's in a union and employed at OHSU more than anything else.

I'm not following your thought process in regard to her being fiscally irresponsible.

From what I remember, Amanda was very anti-tram during the election, and went on record stating that it should be torn down mid-construction before additional tax were expended to complete the project.

Ah, but that's not the point...

...is it?

Bail-out for OHSU: Measure 50.

This is what happens when your sugar-daddy retires from the moneypit. No MarkO, no exhorbitant bailouts.

I'll bet that all those bean-counters up on Pill Hill are still really pleased at the $42 million dollars they're paying out for a glorified elevator. I'd say look for OHSU to offload the thing onto the city....they'll be told that it's either that, or OHSU will have to move.

How about OHSU raises some money by tearing down the Tram and selling it for scrap...I hear methheads make good money that way.

Why do I have the feeling that a huge bailout of OHSU will be led by the City of Portland...especially if Scam becomes mayor and Amanda gets on the council.

Just because one is an employee of OHSU does not mean one supports their policies.

I certainly don't.

what's with all the heckling about Amanda Fritz? she seems to be one of the few who dare to speak out about issues these days.

ecohuman:

Amanda Fritz is a psychiatric nurse at OHSU.

To some, this means she is automatically a puppet of the OHSU administration.

I don't know what her position on any of this, but her being an employee of OHSU does not automatically make her a puppet.

Given the delusional nature of the Council and many of those supporting the commissioners, I'd say that a psychiatric nurse might be just the ticket they need.

I'd say that a psychiatric nurse might be just the ticket they need.

Old issue here, just ask her if she runs what a PSRB group home is and will she run that each,and I do mean each neighborhood must take one.


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