Detail, east Portland photo, courtesy Miles Hochstein / Portland Ground.

For old times' sake
The bojack bumper sticker -- only $1.50!

To order, click here.

Excellent tunes -- free! And on your browser right now. Just click on Radio Bojack!

E-mail us here.


This page contains a single entry from the blog posted on April 19, 2009 11:23 PM. The previous post in this blog was Reader poll: How will Blazers-Rockets series wind up?. The next post in this blog is Another day, another pathological lie. Many more can be found on the main index page or by looking through the archives.



Law and Taxation
How Appealing
TaxProf Blog
Mauled Again
Tax Appellate Blog
A Taxing Matter
Josh Marquis
Native America, Discovered and Conquered
The Yin Blog
Ernie the Attorney
Above the Law
The Volokh Conspiracy
Going Concern
Bag and Baggage
Wealth Strategies Journal
Jim Hamilton's World of Securities Regulation
World of Work
The Faculty Lounge
Lowering the Bar
OrCon Law

Hap'nin' Guys
Tony Pierce
Parkway Rest Stop
Along the Gradyent
Dwight Jaynes
Bob Borden
Dingleberry Gazette
The Red Electric
Iced Borscht
Jeremy Blachman
Dean's Rhetorical Flourish
Straight White Guy
As Time Goes By
Dave Wagner
Jeff Selis
Alas, a Blog
Scott Hendison
The View Through the Windshield
Appliance Blog
The Bleat

Hap'nin' Gals
My Whim is Law
Lelo in Nopo
Attorney at Large
Linda Kruschke
The Non-Consumer Advocate
10 Steps to Finding Your Happy Place
A Pig of Success
Attorney at Large
Margaret and Helen
Kimberlee Jaynes
Cornelia Seigneur
And Sew It Goes
Mile 73
Rainy Day Thoughts
That Black Girl
Posie Gets Cozy
Cat Eyes
Rhi in Pink
Ragwaters, Bitters, and Blue Ruin
Rose City Journal
Type Like the Wind

Portland and Oregon
Isaac Laquedem
Rantings of a [Censored] Bus Driver
Jeff Mapes
Vintage Portland
The Portlander
South Waterfront
Amanda Fritz
O City Hall Reporters
Guilty Carnivore
Old Town by Larry Norton
The Alaunt
Bend Blogs
Lost Oregon
Cafe Unknown
Tin Zeroes
David's Oregon Picayune
Mark Nelsen's Weather Blog
Travel Oregon Blog
Portland Daily Photo
Portland Building Ads
Portland Food and
Dave Knows Portland
Idaho's Portugal
Alameda Old House History
MLK in Motion

Retired from Blogging
Various Observations...
The Daily E-Mail
Saving James
Portland Freelancer
Furious Nads (b!X)
Izzle Pfaff
The Grich
Kevin Allman
AboutItAll - Oregon
Lost in the Details
Worldwide Pablo
Tales from the Stump
Whitman Boys
Two Pennies
This Stony Planet
1221 SW 4th
I am a Fish
Here Today
What If...?
Superinky Fixations
The Rural Bus Route
Another Blogger
Mikeyman's Computer Treehouse
Portland Housing Blog

Wonderfully Wacky
Dave Barry
Borowitz Report
Stuff White People Like
Worst of the Web

Valuable Time-Wasters
My Gallery of Jacks
Litterbox, On the Prowl
Litterbox, Bag of Bones
Litterbox, Scratch
Ride That Donkey
Singin' Horses
Rally Monkey
Simon Swears
Strong Bad's E-mail

Oregon News
The Oregonian
Portland Tribune
Willamette Week
The Sentinel
Southeast Examiner
Northwest Examiner
Sellwood Bee
Mid-County Memo
Vancouver Voice
Eugene Register-Guard
OPB - Portland
Salem Statesman-Journal
Oregon Capitol News
Portland Business Journal
Daily Journal of Commerce
Oregon Business
Portland Info Net
McMinnville News Register
Lake Oswego Review
The Daily Astorian
Bend Bulletin
Corvallis Gazette-Times
Roseburg News-Review
Medford Mail-Tribune
Ashland Daily Tidings
Newport News-Times
Albany Democrat-Herald
The Eugene Weekly
Portland IndyMedia
The Columbian

The Beatles
Bruce Springsteen
Joni Mitchell
Ella Fitzgerald
Steve Earle
Joe Ely
Stevie Wonder
Lou Rawls

E-mail, Feeds, 'n' Stuff

Sunday, April 19, 2009

Guess who'll be paying for Paulson's stadiums

It appears that a fair chunk of the dough necessary to pay for the bush league baseball and soccer palaces we're going to build for the Henry Paulson Wall Street family is going to come from Blazer fans!

And taxpayers, of course.

But click on the story and scroll down a bit. It gets worse. Nobody checked the consultant's numbers -- the same consultant they hired to paper over the Convention Center hotel -- and his math and assumptions are all screwed up.

Comments (22)

If I were Randy or Sam I'd be very concerned about losing my job. Oh, not because of angry voters. No, the problem for these guys is that 2 new clowns have just hopped out of the circus car and they show some real talent.

How could Randy hope to compete with David Logsdon? Just behold his work in this paragraph below:

"We would certainly be digging into the numbers a little harder if we had more risk and exposure," said David Logsdon, manager of the city's spectator facilities. But with a personal guarantee from the Paulson family, "it's less important to the city how we scrub through all the numbers."

The Paulson family? The same family currently at the center of the fraud scheme that is costing America trillions? And yet their guarantee means you don't even bother checking the numbers?

Randy, there is much you can learn from this man. In your dreams, you're not this bold.

But then we get to the consultant from HVS, Brian Harris, who explains that his math is all screwed up because he was on an airplane and besides he was sick.
Now admittedly there's no real threat to our current Mayor in any of that. The guy sounds like a 5-year-old with the excuses, but the real problem is that he takes the wrong approach.

See, Sam would just skip the excuses and concentrate on the lies. There's no admission of incompetence that way.

But just when Brian appears out of the race as the next great city politician he lands a line so brilliant that it should be on a statue outside whatever bankruptcy court we end up in.

Here's the last sentence of the article:

The bottom line numbers are sound, he said, and reflect "what everyone was expecting."

Ahh, to be able to BS this adroitly. To say the truth at the same time as you're shoveling away - that is a real gift. Yes, everything about this deal is playing out as a typical Portland scam. The bogus numbers, the duplicity, the fake guarantees. It is exactly, "what everyone was expecting."

Sam, you're in real trouble. None of your BS comes close to this level of elegance. Time to start spreading some damning rumors or something. This guy could be a real problem for you.

Great reporting. A pity the O didn't both to do it prior to the vote on the stadium deal. Perhaps it would have put enough pressure on Saltzman to flip.

Shocking, just shocking, that a consultant would come up with the answer that the client wanted, even if the numbers didn't pan out.

Quick, Sam! you better make up a cushy job title and salary package offer for Helen Jung, she's on to you and it sounds like she's about to bust your schemes wide open!

Folks, let's keep this alive for another 71 days!!!! Then the real games can begin.

As far as a shocking choice of consultants, when you pick someone like Edlen or Ashforth to tell you if a CC hotel makes sense, I fail to be shocked further.

This is old hat.

This is what the PDC has been doing for many years.
They come up with the numbers that the city wanted, even if the numbers don't pan out.

The only reason officials don't check the math and numbers is because they don't want to discover any reasons to trip up the plan.
Going clear back to Cascade Station/AirpotMAX and the no-bid contract scheme and then mushrooming at SoWa this corrupted system of funny numbers and a fixed racket to push a project set the stage for this latest round.
The stench grew to new levels when the PDC cooked up revenue forecasts and project estimates to call the SoWa plan "feasible".
No one at city hall checked ANY of the ludicrous numbers or any other fatal flaws that scheme involved. Plenty in the public did from the Tram to the height of buildings to the promise of biotech jobs. It was ALL fixed. Katz and company not only ignored the critics but they denigrated them in public hearings. And let's not forget these officials have had their defenders providing cover all the way. Chris Smith over at Portland Transport and various other groups rally to support every scheme advanced. Themselves never scrutinizing anything at all.

Now with this latest chapter the incompetent Creepy and Randy run the stench machine with reckless and irresponsible decisions which they are confident they'll never be held accountable for.

Nice that someone finally looked at the numbers. Of course it had to be journalists rather than the City's own finance people or auditor.

Bill M. picks out the perfect quotes from an article full of them:

"We would certainly be digging into the numbers a little harder if we had more risk and exposure," said David Logsdon, manager of the city's spectator facilities. But with a personal guarantee from the Paulson family, "it's less important to the city how we scrub through all the numbers."

My jaw is on the floor.

As for the consultant, coming up with the "right" answer is often part of the game. But putting the wrong numbers in your final product and having that stand unscrutinized as the "financing plan" is beyond the usual sleeze into incompetence on the part of the consultant and the city.

One thing that isn't mentioned as far as I could tell. Paulson's guarantee covers one sixth of the costs BEFORE INTEREST on the bonds. They're going to cost a lot more than face value.

A pity the O didn't both[er] to do it prior to the vote on the stadium deal.

It's never too late, except in the minds of those who promoted and voted for it.

I am shocked, SHOCKED I tell you, that the O is actually producing what might be considered investigative reporting.

Why or why can't these people take the same care that they would if they were handling their own personal finances?

Now that I think of it, at least one of them has already been through bankruptcy which might explain the incompetence, negligence or whatever.

My favorite quote:

""Harris said he transposed some of the figures while keyboarding them from a spreadsheet into the presentation. He was on an airplane at the time, he said, and was rushing to prepare the presentation. Later, he added that he was also sick at the time...""

Last time I tried BS like that was the 11th grade. Hey...anyone see the mayor's bong?

. . . and the dog ate his Blackberry.

An obvious question here: what is the legal value of Paulson's "personal guarantee"? I mean, is it a binding contract? Can it be enforced if he suddenly decides that he doesn't like something about the circumstances, and just bails out completely?

'what is the legal value of Paulson's "personal guarantee"? I mean, is it a binding contract?'

Don't worry, it's all well-documented in a hastily prepared Powerpoint presentation. That ought to hold up in court right?

...I am shocked, SHOCKED I tell you, that the O is actually producing what might be considered investigative reporting...

...and the dog ate his Blackberry...

Really. D'ya s'pose the paper sent out someone to get Lolita's take on all this? Grr! Woof!

"why can't these people take the same care that they would if they were handling their own personal finances"

Hey, I'd prefer that, I thin Randy and Sam are bnth pretty cheap with their own monies.

"'what is the legal value of Paulson's "personal guarantee"? I mean, is it a binding contract?'"

What guarantee? Nothing's been signed yeat and Randy says it will get done. SO now that Randy is motivated, all Paulson has to wait is for him to commit himself, then he can play hardball with the genius.

Portland desperately needs something like this:

If you're shocked by what The O is reporting, then you should find and read:

'"A Lot of Hooey": Heywood Sanders on Convention Center Economics.' (Google will guide you) It's an interview that took place in 2004. Heywood Sanders is a nationally recognized expert on convention center developments.

Note to Oregon legislature: NO TIF!

Harris defended the report, saying it led to the decision to secure Paulson's guarantee. The bottom line numbers are sound, he said, and reflect "what everyone was expecting."

I bet they guess is the numbers were handed to him from the beginning.

You gotta wonder how much money the city paid Harris's company for the PowerPoint thingie he whacked together on the plane on his way here while he was "sick". Couldn't be more than $20-25K, could it?

And you'd think they could have found someone a little closer than Chicago who knew PowerPoint.

Lessee, the flight from Chicago to Portland's about four hours...minus some time on the ascent and descent...maybe three-and-a-half hours working time.

Oh, here's the link to the Powerpoint

Let me go one step further than Mr. Plant. If you'd like to tell Brian Harris what you think about paying $39,000 for a report that isn't "smarter than a 5th grader" you can contact him here:

Address: 205 West Randolph
Suite 1650
Chicago, IL, 60606
Phone: +1 727 347-1428 (Work)

This is the contact info from the above link.

Wow, Mr. Farley, that is more than $25K! Where'd you pick up that number? I wasn't sure where to even start.

Probably flew first class on that kind of money. $10K/hr. Gotta get me one of them consulting jobs.

Hey Jack, I was grading some papers on a plane and I had a cold. Do you ever do that?

Sorry that I gave a student an F rather than an A, and "transposed" a D into a B+.

I'd better be careful the next time I work on the plane ...

Wow. 39,000 bucks??

The Powerpoint provides some interesting numbers that do not bode well for the assumptions Sam, Randy, the Advisory Committee, and Paulsons make.

Over two thirds of the 30 teams listed for AAA teams had higher attendance than Portland. But Portland population numbers in another list is over two times the average of all the other teams. Maybe the popularity of baseball isn't so great in Portland that warrants the many assumptions that the Powerpoint makes that Sam and Randy hang their hats on.

When are CoP Advisory Committees going to start really examining these kinds of PR presentations for what they are? PDC is famous for this practice. Sam is notorious in his Townhall meetings for his Powerpoint deceptions. Where's the responsibility?


As a lawyer/blogger, I get
to be a member of:

In Vino Veritas

Chloe, Pinot Grigio, Valdadige 2013
Edmunds St. John, Bone-Jolly Gamay Noir 2013
Kirkland, Pinot Grigio, Friuli 2013
St. Francis, Red Splash 2011
Rodney Strong, Canernet, Alexander Valley 2011
Erath, Pinot Blanc 2013
Taylor Fladgate, Porto 2007
Portuga, Rose 2013
Domaine Digioia-Royer, Chambolle-Musigny, Vielles Vignes Les Premieres 2008
Locations, F Red Blend
El Perro Verde, Rueda 2013
Chateau Ste. Michelle, Indian Wells Red 2
If You See Kay, Red 2011
Turnbull, Old Bull Red 2010
Cherry Tart, Cherry Pie Pinot Noir 2012
Trader Joe's Grand Reserve Cabernet, Oakville 2012
Benton Lane, Pinot Gris 2012
Campo Viejo, Rioja, Reserva 2008
Haden Fig, Pinot Noir 2012
Pendulum Red 2011
Vina Real, Plata, Crianza Rioja 2009
Edmunds St. John, Bone/Jolly, Gamay Noir Rose 2013
Bookwalter, Subplot No. 26
Ayna, Tempranillo 2011
Pete's Mountain, Pinot Noir, Haley's Block 2010
Apaltagua, Reserva Camenere 2012
Lugana, San Benedetto 2012
Argyle Brut 2007
Wildewood Pinot Gris 2012
Anciano, Tempranillo Reserva 2007
Santa Rita, Reserva Cabernet 2009
Casone, Toscana 2008
Fonseca Porto, Bin No. 27
Louis Jadot, Pouilly-Fuissé 2011
Trader Joe's, Grower's Reserve Pinot Noir 2012
Zenato, Lugana San Benedetto 2012
Vintjs, Cabernet 2010
14 Hands, Hot to Trot White 2012
Rainstorm, Oregon Pinot Gris 2012
Silver Palm, North Coast Cabernet 2011
Andrew Rich, Gewurtztraminer 2008
Rodney Strong, Charlotte's Home Sauvignon Blanc 2012
Canoe Ridge, Pinot Gris, Expedition 2012
Edmunds St. John, Bone-Jolly Gamay Noir Rose 2012
Dark Horse, Big Red Blend No. 01A
Elk Cove, Pinot Noir Rose 2012
Fletcher, Shiraz 2010
Picollo, Gavi 2011
Domaine Eugene Carrel, Jongieux 2012
Eyrie, Pinot Blanc 2010
Atticus, Pinot Noir 2010
Walter Scott, Pinot Noir, Holstein 2011
Shingleback, Cabernet, Davey Estate 2010
Coppola, Sofia Rose 2012
Joel Gott, 851 Cabernet 2010
Pol Roget Reserve Sparkling Wine
Mount Eden Chardonnay, Santa Cruz Mountains 2009
Rombauer Chardonnay, Napa Valley 2011
Beringer, Chardonnay, Napa Reserve 2011
Kim Crawford, Sauvignon Blanc 2011
Schloss Vollrads, Spaetlese Rheingau 2010
Belle Glos, Pinot Noir, Clark & Telephone 2010
WillaKenzie, Pinot Noir, Estate Cuvee 2010
Blackbird Vineyards, Arise, Red 2010
Chauteau de Beaucastel, Chateauneuf-du-Pape 2005
Northstar, Merlot 2008
Feather, Cabernet 2007
Silver Oak, Cabernet, Alexander Valley 2002
Silver Oak, Cabernet, Napa Valley 2002
Trader Joe's, Chardonnay, Grower's Reserve 2012
Silver Palm, Cabernet, North Coast 2010
Shingleback, Cabernet, Davey Estate 2010
E. Guigal, Cotes du Rhone 2009
Santa Margherita, Pinot Grigio 2011
Alamos, Cabernet 2011
Cousino Macul, Cabernet, Anitguas Reservas 2009
Dreaming Tree Cabernet 2010
1967, Toscana 2009
Charamba, Douro 2008
Horse Heaven Hills, Cabernet 2010
Lorelle, Horse Heaven Hills Pinot Grigio 2011
Avignonesi, Montepulciano 2004
Lorelle, Willamette Valley Pinot Noir 2011
Villa Antinori, Toscana 2007
Mercedes Eguren, Cabernet Sauvignon 2009
Lorelle, Columbia Valley Cabernet 2011
Purple Moon, Merlot 2011
Purple Moon, Chardonnnay 2011
Horse Heaven Hills, Cabernet 2010
Lorelle, Horse Heaven Hills Pinot Grigio 2011
Avignonesi, Montepulciano 2004
Lorelle, Willamette Valley Pinot Noir 2011
Villa Antinori, Toscana 2007
Mercedes Eguren, Cabernet Sauvignon 2009
Lorelle, Columbia Valley Cabernet 2011
Purple Moon, Merlot 2011
Purple Moon, Chardonnnay 2011
Abacela, Vintner's Blend No. 12
Opula Red Blend 2010
Liberte, Pinot Noir 2010
Chateau Ste. Michelle, Indian Wells Red Blend 2010
Woodbridge, Chardonnay 2011
King Estate, Pinot Noir 2011
Famille Perrin, Cotes du Rhone Villages 2010
Columbia Crest, Les Chevaux Red 2010
14 Hands, Hot to Trot White Blend

The Occasional Book

Saul Bellow - Mister Sammler's Planet
Phil Stanford - White House Call Girl
John Kaplan & Jon R. Waltz - The Trial of Jack Ruby
Kent Haruf - Eventide
David Halberstam - Summer of '49
Norman Mailer - The Naked and the Dead
Maria Dermoȗt - The Ten Thousand Things
William Faulkner - As I Lay Dying
Markus Zusak - The Book Thief
Christopher Buckley - Thank You for Smoking
William Shakespeare - Othello
Joseph Conrad - Heart of Darkness
Bill Bryson - A Short History of Nearly Everything
Cheryl Strayed - Tiny Beautiful Things
Sara Varon - Bake Sale
Stephen King - 11/22/63
Paul Goldstein - Errors and Omissions
Mark Twain - A Connecticut Yankee in King Arthur's Court
Steve Martin - Born Standing Up: A Comic's Life
Beverly Cleary - A Girl from Yamhill, a Memoir
Kent Haruf - Plainsong
Hope Larson - A Wrinkle in Time, the Graphic Novel
Rudyard Kipling - Kim
Peter Ames Carlin - Bruce
Fran Cannon Slayton - When the Whistle Blows
Neil Young - Waging Heavy Peace
Mark Bego - Aretha Franklin, the Queen of Soul (2012 ed.)
Jenny Lawson - Let's Pretend This Never Happened
J.D. Salinger - Franny and Zooey
Charles Dickens - A Christmas Carol
Timothy Egan - The Big Burn
Deborah Eisenberg - Transactions in a Foreign Currency
Kurt Vonnegut Jr. - Slaughterhouse Five
Kathryn Lance - Pandora's Genes
Cheryl Strayed - Wild
Fyodor Dostoyevsky - The Brothers Karamazov
Jack London - The House of Pride, and Other Tales of Hawaii
Jack Walker - The Extraordinary Rendition of Vincent Dellamaria
Colum McCann - Let the Great World Spin
Niccolò Machiavelli - The Prince
Harper Lee - To Kill a Mockingbird
Emma McLaughlin & Nicola Kraus - The Nanny Diaries
Brian Selznick - The Invention of Hugo Cabret
Sharon Creech - Walk Two Moons
Keith Richards - Life
F. Sionil Jose - Dusk
Natalie Babbitt - Tuck Everlasting
Justin Halpern - S#*t My Dad Says
Mark Herrmann - The Curmudgeon's Guide to Practicing Law
Barry Glassner - The Gospel of Food
Phil Stanford - The Peyton-Allan Files
Jesse Katz - The Opposite Field
Evelyn Waugh - Brideshead Revisited
J.K. Rowling - Harry Potter and the Sorcerer's Stone
David Sedaris - Holidays on Ice
Donald Miller - A Million Miles in a Thousand Years
Mitch Albom - Have a Little Faith
C.S. Lewis - The Magician's Nephew
F. Scott Fitzgerald - The Great Gatsby
William Shakespeare - A Midsummer Night's Dream
Ivan Doig - Bucking the Sun
Penda Diakité - I Lost My Tooth in Africa
Grace Lin - The Year of the Rat
Oscar Hijuelos - Mr. Ives' Christmas
Madeline L'Engle - A Wrinkle in Time
Steven Hart - The Last Three Miles
David Sedaris - Me Talk Pretty One Day
Karen Armstrong - The Spiral Staircase
Charles Larson - The Portland Murders
Adrian Wojnarowski - The Miracle of St. Anthony
William H. Colby - Long Goodbye
Steven D. Stark - Meet the Beatles
Phil Stanford - Portland Confidential
Rick Moody - Garden State
Jonathan Schwartz - All in Good Time
David Sedaris - Dress Your Family in Corduroy and Denim
Anthony Holden - Big Deal
Robert J. Spitzer - The Spirit of Leadership
James McManus - Positively Fifth Street
Jeff Noon - Vurt

Road Work

Miles run year to date: 377
At this date last year: 237
Total run in 2013: 257
In 2012: 129
In 2011: 113
In 2010: 125
In 2009: 67
In 2008: 28
In 2007: 113
In 2006: 100
In 2005: 149
In 2004: 204
In 2003: 269

Clicky Web Analytics