Wednesday, January 23, 2013

The Next Shoe to Drop (On Upstate)?

From Crain's last week: LIPA sale could require state bailout.

If you remember LIPA, Long Island Power Authority, was formed at the insistance of Gov. Mario Cuomo to absorb the costs associated with closing down the completed, but never put into production, Shoreham nuclear power plant (a political move to win him votes). In domino effect, we were asked to share our power with the downstate branch of the "family of New York" ... resulting in the Marcy South Power Line AND higher, job-killing, electrical rates being shoved down our throats.

Well now Governor Andrew Cuomo wants to sell LIPA after its perfectly dismal response to hurricane Sandy.

The problem is, who would want to buy a company with a $4billion liability associated with a dismantled, now useless nuke plant?

It's sure starting to look like a state taxpayer bailout of this mess is in the offing. ... Meaning we upstaters get to pay again for unproductive political decisions by the Cuomo Family of New Work.


Dave said...

I remember as a newlywed opening my wallet each time my bride asked me for money for one thing or another. She was in a "period of transition" and not working. It got tiring playing "Me, Man" and opening my wallet so often. For the first time in my young life I began to wonder if wallets ever wore out.
Finally, I just took my cash and checkbook out when I came home each night and told her to have at it, and to let me know when we were broke.
I would suggest New York taxpayers do the same with their new bride, Andrew Cuomo. In fact, tell your employer to deduct 100 percent of what's left over after Fed and FICA. Tell him you don't want to see even one thin dime on payday. And then ask for the morning off to go down and apply for welfare. You might as well get some before even that is gone.

Anonymous said...

if you think Gov. Cuomo cares one iota about the people in this area you are utterly wrong . the gov only cares about himself and those who he can use to further his career(heaven forbid).We are being offered the crumbs off the table and told to be satisfied.

Anonymous said...

That is the irony of the Left; big government is killing the golden calf of hard work and free market capitalism. As Dave speculates, the very programs they expand will be broke in another generation.