September 2008

Special events bring our community to a standstill certain times of the year. In business speak this means we have so many people spending money you can’t get around. I love it. Without these events our population would have to be much higher to enjoy the same goods and services. Remember that next time a biker blows past you with an annoying roar or you read about over energetic race fans causing a ruckus in a local bar. These folks leave a bunch of cash that is gobbled up by business and government. Most of them are just good people having a good time.

NEW SMYRNA BEACH -- A retired police chief armed with 40 years of budgeting experience and backed by more than 200 supporters told the New Smyrna Beach City Commission at Wednesday's public hearing that an 11.2 percent mill-rate increase was not going to fly and that there would be hell to pay come election time or even sooner through voter recalls for any of them who didn't heed his warnings. He got his way and that means $1 million has to be cut unless the city dips into already dangerously low reserves.

It goes without saying that the financial instability of banks is among the leading news items today. I am sure you all have asked the question “Is my bank FDIC insured?” If it is under the moniker, FDIC, then you're money is backed by the federal government.

A look at the 100 highest paid people on the city payroll leaves the reader with several impressions. First, we have a lot of well paid people working for the city. Second, we have a lot of people working for the city. Third, there seems to be a lot of overtime being paid. In the business world, companies sometimes declare bankruptcy in order to get away from cost structures that they can’t maintain, but can’t change because of contractual agreements. Is this the position New Smyrna Beach finds itself now? And if not now, then when?