[PRCo] Re: Lease back financing

[John Swindler]

The politicians sold the future revenue stream from tobacco companies to get cash in hand today.  Actually at points in time over past ten years.  The upfront money from investors is now gone, but the tobacco settlement money is needed to pay back the investors.  What happens if the tobacco companies go bankrupt and no longer provide the tobacco settlement revenue stream?  That's where you and your children come in.
 
If you want an example of why this happens, the governor is recommending raiding an environmental trust fund to cover about $600 million in this year's operating budget shortfall.  It will be sold to you as avoiding layoffs and reductions in state services.  (is that an oxymoron?)   
 
Cheers
John
> Date: Sat, 13 Dec 2008 13:21:02 -0800> From: pcc_sr at yahoo.com> Subject: [PRCo] Re: Lease back financing> To: pittsburgh-railways at dementia.org> > Mr. Swindler;> > > If what you infer about tobacco is true then it probably doesn't stop there does it.> How many other places were such financing 'deals' made that will come back to> bite us within the next decade? For obvious reasons these 'deals' may not affect > us directly but what about our families? How could we speak up now to expose> and hopefully 'correct' these situations? Do we need grand jury investigations at> all levels?> > > Phil> > > > > > ----- Original Message ----> > From: John Swindler <j_swindler at hotmail.com>> > To: pittsburgh-railways at dementia.org> > Sent: Saturday, December 13, 2008 5:32:10 AM> > Subject: [PRCo] Re: Lease back financing> > > > > > > > There's about 30 some transit agencies affected. Perhaps it is not so much AIG > > and the transit systems - it is the brokers that received hefty commissions for > > putting these agreements together. That's where the real money is made and > > decisions are made - at the individual level.> > > > Do you remember those multi billion dollar tobacco settlements between the > > tobacco companies and various states about ten years ago? The tobacco companies > > agreed to make payments over several decades. Guess what your state politicians > > have been doing over past few years and who is now 'on the hook' if tobacco > > consumption declines? > > > > John> > > > > > 
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