Jefferson Review

"Your Liberty is Our Interest"

Home /  Archives / Links / Quotes / Book Reviews / Advertise /Contact us / Subscribe / Calendar

LEFTington Kentucky Wealthy Influential Group May Have to Repay $750,000.00 Loan

by Mario, Guerilla Reporter

March 26, 2005

The communistic condemnation procedure under eminent domain against our well-run, privately-owned water utility, that has nothing wrong with it, and is not for sale, is coming to an end. But not without the whiner class belly-aching all the way to the bank!

There is the little matter of a $750,000.00 loan made to the city by wealthy and powerful citizens who want to see the water company taken from its present owners and owned by the city. Initially, these people suspiciously remained “in the closet” during most of the divisive turmoil surrounding condemnation of our water utility, but they are now “out of the closet”. They are: millionaire Warren Rosenthal, founder of Jerrico; former liberal Mayor Foster Petit; Leftist State Representative and Lexington Legends co-owner among other enterprises Kathy Stein who says the POW MIA Flag represents extremists; attorney Foster Ockerman, Sr., father of the liberal attorney front man for FLOW; former democrat governor Ed T. “Ned” Breathitt; millionaire businessman W. T. Young, Sr.; elderly historian Thomas Clark; wealthy financier Thomas DuPree; former Ford executive John Burkhard; liberal KET co-founder O. Leonard Press; and businessmen Joe Graves and William Sturgill.

These people, in an effort to control the direction of our city with their pocketbooks, backed a loan to the city of $750,000.00, which was to assist the city in seeking condemnation. What these people just don’t get is that they did indeed “back” this loan. When I co-signed on a loan for a family member years ago, I was stuck with repaying the loan or my credit would have been negatively affected, so I repaid it. What is it about “backing” the loan that these folks don’t understand? Don’t let them fool you; they understand quite well what they were doing backing the “loan”; they are all well-to-do people in the community who understand financial workings quite well.

Now that things have not gone their way, these “backers” don’t want to actually have to “back” the loan as they signed on the line to do. Of course, our local liberal news rag is going to “spin” this differently for their friends, but it does not take a mental heavyweight to see what is happening here.

According to our ever-biased but consistent Heraldo-Liberal, the loan agreement says it is to be repaid “solely from the issuance of bonds or notes to acquire the eminent domain property or from revenues from the project.” Well, guess what? There aren’t going to be any bonds or notes to acquire the property of Kentucky American Water, nor is there going to be any revenue from the project because this communistic project of “government ownership of the means of production” is not going to happen. Sorry folks, get out your checkbooks. What is the problem?

These wealthy people can easily afford this. They have no business asking the citizen taxpayer to come up with the funds for a project that these few people pushed on our fair city. It is time that those who caused all of this divisiveness stepped up and came clean. They lost the battle against free-market capitalism, and they agreed to repay the loan by “backing” it if the city couldn’t repay it. The city can’t afford to repay it. If these people truly are concerned benefactors “for the greater good” that their friends at the Heraldo-Liberal keep telling us they are, they should help our city move past all this division and get on with the healing of wounds. We will soon see that they are not what they are portrayed to be as they will fight to make the city repay this loan that they pushed and allegedly “backed”. That is what liberal elitists believe. It is the working class who are to pay for “their beloved programs” as they get richer and pull the strings. By repaying this questionably pushed loan, the city will push the “toll of wasted tax dollars” this project has eaten over the $2,000,000.00 mark. If these “backers” do what they signed on to do and that is “back” this loan, there will be no negative repercussions for our city as the loan will not default. Will they?

Heraldo-Liberal Article http://www.kentucky.com/mld/kentucky/11235467.htm

Weather (Louisville) / Mapquest /  White Pages / Business Search / CNN / Dictionary / E-card / MSN