Happy New Year
It's 2009
Out with the old and in with the new as they say. As we say goodbye to 2008, I look back to see what made it the worst year in recent memory and also why it’s been the most interesting year.
City Of Atlanta Budget Cuts
Mayor Shirley Franklin broke the news that the city would have a $60 million budget deficit in 2008. She warned that city would have to make drastic cuts. Apparently while she was traveling all over the country accepting awards for being a great Mayor, she had been neglecting books. When questioned how she could let this happen a second time under her watch, she would deflect the question by saying something like it doesn’t matter how we got here, what matters is how we get out of it. In actuality it does matter how this happened. By knowing what caused this problem it can help competent leadership avoid this happening again and may also help in fixing the problem. The city laid off hundreds of workers, furloughed workers, closed fire stations and cut city services in an effort to save money. A second slap in the face came when Mayor Franklin announced that the deficit was even bigger than first thought. An effort to remove her from office would probably have been started if it weren’t for the fact that such an effort would put a strain on the city’s finances to recall the Mayor and hold a special election. At least there is good news, this is her last term in office.
The State Of Georgia Strapped For Cash
Even the great state of Georgia finds itself affected by the current financial crisis. Governor Sonny Purdue has ordered State agencies to cut spending up to 8% in an effort to beat a $1.6 billion deficit. The economy has been so bad, state tax revenue intake has been very slow. It didn’t help matters when the Georgia DOT announced that an audit revealed the agency had more than $450 million budget shortfall. The shortfall threatened many current and future projects for 2008. Among some of the state’s cut backs in spending are new hires, pay raises and non-essential purchases.
Brian Nichols
An Atlanta jury spared Brian Nichols from death in 2008. The trial finally started and concluded in a guilty verdict for the 2003 courthouse shooter. Nichols killed 4 people as he tried to escape the Fulton County Courthouse. He shot and killed Judge Rowland Barnes, courtroom reporter Julie Brandau, Fulton County Sheriff’s Deputy Sgt. Hoyt Teasley and U.S Immigration and Customs agent David G. Wilhelm. The trial and conviction was more than fair. There was a huge backlash from legislators and the victims families about the jury being deadlocked on whether or not to sentence Nichols to death. Some Legislators even suggested that the law be changed so death is carried with a minimum of 10 Jurors voting in favor. I think it’s a bad idea. Although we put a lot of faith in the legal system, its not perfect, and innocent people are often found guilty. Taking someone’s life is huge, because that sentence one it’s been carried out can never be appealed. It should take all 12 jurors agreeing that this person should die for this crime. A person’s life is too precious to leave any room for doubt or errors. It’s all for or life in prison.
Marta’s Budget Woes
Marta, Atlanta’s rapid transit authority has announced its money problems and is not looking for ways to not only save money, but help generate revenue. Marta is looking into allowing vendors to sell food and drink inside rail stations. In order to do this, Marta would have to repeal its policy of food and beverage in stations, trains and buses. Marta is also looking at charging for parking, cutting bus and rail service to save money. A few years back, Marta spent an insane amount of money for a new fare collection system. Replacing the old token based system, that was said to allow for easy fare evasion. To solve the fare evasion would have simply assigned a gate monitor at stations for a fraction of what the new system cost. Money saved by doing that alone. Marta’s problems wouldn’t be so bad if it had more support. Part of the problem is that Marta is only operation in the immediate metro Atlanta areas of DeKalb and Fulton Counties. The other counties have long expressed no interest in bringing Marta to their community. However these counties have very recently started their own transit systems. The Georgia Regional Transportation Authority is an agency with the state of Georgia that helps fund the transit systems in Cobb, Gwinnett, and Clayton counties. If this agency were to merge with Marta, and expand, maximizing the state’s money in transportation, We would have a transit system that connects more counties seamlessly. By combining agencies and resources the system would have a better chance of surviving the current financial crisis than going it alone.
Financial Meltdown
With the new year, say goodbye to some companies that were once staples in the financial world. Bear Stearns closes its doors. Bear Stearns was once the one of the world's largest investment bank and brokerage firms collapsed because of sub-prime mortgages.
Washington Mutual, the nation's largest savings and loan and Wachovia both two of more than a dozen of banks that failed in 2008. WaMu was bought by JP Morgan Chase. Wachovia was purchased by Wells Fargo, and will over the next three years assume the Wells Fargo brand.
The big dips in the stock markets cause many Americans investing their pensions to lose a substantial amount of money. Although many experts predict that the market will correct itself and that people will get back most of the money they lost, at the moment that path looks far away.
2008 saw the largest increase in gas prices. At one point each week brought new record in gas prices. The rise in prices started with the damage Hurricane Katrina made when it hit the gulf coast. After the disaster oil speculators drove the prices even higher, all to make a profit for themselves.
Increased gas prices ensured prices of almost all other consumer goods would also rise, especially food. 2008 saw the largest and fastest increase in food prices in history. In an economy where the bottom has fallen out, people where making hard choices on weather to buy food, medicine or gas to get to work. It's probably the top thing people will not miss about 2008.
Home foreclosures skyrocketed in 2008 especially in Dekalb County. As most sub-prime loans interest rates adjusted, most homeowners could no longer make their mortgage payments leading to beginning of the current financial crisis.
Store Closings
The economy's slide south proved to be too much for some major retailers. Circuit City filed for bankruptcy and is closing over 100 of its stores nationwide including all Atlanta area stores. KB Toys filed bankruptcy for a second time and closed its doors at many of its mall locations. The country's financial woes are also pushing a lot of other stores out of business like Mervyns Department Stores, The Sharper Image, Linens 'n Things, Value City, Bill Heard Automotive, The Bombay Company, Steak and Ale, Shoe Pavilion, and Levitz Furniture.
Michael Vick
What does a man do when he has fame and fortune? He runs a dog fighting ring of course. Michael Vick shocked many of his fans when it was discovered he funded an illegal dog fighting ring on his property. His arrest led to him being let go from the Atlanta Falcons and fired from endorsements. He is currently serving time in federal prison.
President-Elect Barack Obama
Senator Barack Obama made history by being the first black candidate to win a major party nomination. He went on to become the nation's first black President. He also set records in fundraising during his presidential campaign. President-Elect Obama will be sworn into office on January 20, 2009.
City of Lithonia
2008 also saw one of the nastiest and most embarrassing squabbles in politics Mayor Joyce McKibben vs. the Lithonia City Council and Lithonia Police Chief Willie Rosser. All parties behaved badly after the brouhaha when the Mayor attempted to fire the police chief. The city council rehired the chief and proceeded to lock the mayor out of city hall. Lawsuits were filed, people were arrested and prosecuted. It led to city government grinding to a crawl. Lithonia became the fodder for You Tube entertainment and numerous news reports over the political conflict. Eventually the Mayor’s rivals mounted a campaign that was successful in her being recalled and a new Mayor was elected. It’s funny how the Mayor is the only one out of a job when members of the city council and the police chief deserve to be ousted as well. Still no one really acknowledges the reason the battle lines were drawn in the first place. The mayor accused the Police Chief of unauthorized purchases and hiring issues.
City Of Atlanta Budget Cuts
Mayor Shirley Franklin broke the news that the city would have a $60 million budget deficit in 2008. She warned that city would have to make drastic cuts. Apparently while she was traveling all over the country accepting awards for being a great Mayor, she had been neglecting books. When questioned how she could let this happen a second time under her watch, she would deflect the question by saying something like it doesn’t matter how we got here, what matters is how we get out of it. In actuality it does matter how this happened. By knowing what caused this problem it can help competent leadership avoid this happening again and may also help in fixing the problem. The city laid off hundreds of workers, furloughed workers, closed fire stations and cut city services in an effort to save money. A second slap in the face came when Mayor Franklin announced that the deficit was even bigger than first thought. An effort to remove her from office would probably have been started if it weren’t for the fact that such an effort would put a strain on the city’s finances to recall the Mayor and hold a special election. At least there is good news, this is her last term in office.
The State Of Georgia Strapped For Cash
Even the great state of Georgia finds itself affected by the current financial crisis. Governor Sonny Purdue has ordered State agencies to cut spending up to 8% in an effort to beat a $1.6 billion deficit. The economy has been so bad, state tax revenue intake has been very slow. It didn’t help matters when the Georgia DOT announced that an audit revealed the agency had more than $450 million budget shortfall. The shortfall threatened many current and future projects for 2008. Among some of the state’s cut backs in spending are new hires, pay raises and non-essential purchases.
Brian Nichols
An Atlanta jury spared Brian Nichols from death in 2008. The trial finally started and concluded in a guilty verdict for the 2003 courthouse shooter. Nichols killed 4 people as he tried to escape the Fulton County Courthouse. He shot and killed Judge Rowland Barnes, courtroom reporter Julie Brandau, Fulton County Sheriff’s Deputy Sgt. Hoyt Teasley and U.S Immigration and Customs agent David G. Wilhelm. The trial and conviction was more than fair. There was a huge backlash from legislators and the victims families about the jury being deadlocked on whether or not to sentence Nichols to death. Some Legislators even suggested that the law be changed so death is carried with a minimum of 10 Jurors voting in favor. I think it’s a bad idea. Although we put a lot of faith in the legal system, its not perfect, and innocent people are often found guilty. Taking someone’s life is huge, because that sentence one it’s been carried out can never be appealed. It should take all 12 jurors agreeing that this person should die for this crime. A person’s life is too precious to leave any room for doubt or errors. It’s all for or life in prison.
Marta’s Budget Woes
Marta, Atlanta’s rapid transit authority has announced its money problems and is not looking for ways to not only save money, but help generate revenue. Marta is looking into allowing vendors to sell food and drink inside rail stations. In order to do this, Marta would have to repeal its policy of food and beverage in stations, trains and buses. Marta is also looking at charging for parking, cutting bus and rail service to save money. A few years back, Marta spent an insane amount of money for a new fare collection system. Replacing the old token based system, that was said to allow for easy fare evasion. To solve the fare evasion would have simply assigned a gate monitor at stations for a fraction of what the new system cost. Money saved by doing that alone. Marta’s problems wouldn’t be so bad if it had more support. Part of the problem is that Marta is only operation in the immediate metro Atlanta areas of DeKalb and Fulton Counties. The other counties have long expressed no interest in bringing Marta to their community. However these counties have very recently started their own transit systems. The Georgia Regional Transportation Authority is an agency with the state of Georgia that helps fund the transit systems in Cobb, Gwinnett, and Clayton counties. If this agency were to merge with Marta, and expand, maximizing the state’s money in transportation, We would have a transit system that connects more counties seamlessly. By combining agencies and resources the system would have a better chance of surviving the current financial crisis than going it alone.
Financial Meltdown
With the new year, say goodbye to some companies that were once staples in the financial world. Bear Stearns closes its doors. Bear Stearns was once the one of the world's largest investment bank and brokerage firms collapsed because of sub-prime mortgages.
Washington Mutual, the nation's largest savings and loan and Wachovia both two of more than a dozen of banks that failed in 2008. WaMu was bought by JP Morgan Chase. Wachovia was purchased by Wells Fargo, and will over the next three years assume the Wells Fargo brand.
The big dips in the stock markets cause many Americans investing their pensions to lose a substantial amount of money. Although many experts predict that the market will correct itself and that people will get back most of the money they lost, at the moment that path looks far away.
2008 saw the largest increase in gas prices. At one point each week brought new record in gas prices. The rise in prices started with the damage Hurricane Katrina made when it hit the gulf coast. After the disaster oil speculators drove the prices even higher, all to make a profit for themselves.
Increased gas prices ensured prices of almost all other consumer goods would also rise, especially food. 2008 saw the largest and fastest increase in food prices in history. In an economy where the bottom has fallen out, people where making hard choices on weather to buy food, medicine or gas to get to work. It's probably the top thing people will not miss about 2008.
Home foreclosures skyrocketed in 2008 especially in Dekalb County. As most sub-prime loans interest rates adjusted, most homeowners could no longer make their mortgage payments leading to beginning of the current financial crisis.
Store Closings
The economy's slide south proved to be too much for some major retailers. Circuit City filed for bankruptcy and is closing over 100 of its stores nationwide including all Atlanta area stores. KB Toys filed bankruptcy for a second time and closed its doors at many of its mall locations. The country's financial woes are also pushing a lot of other stores out of business like Mervyns Department Stores, The Sharper Image, Linens 'n Things, Value City, Bill Heard Automotive, The Bombay Company, Steak and Ale, Shoe Pavilion, and Levitz Furniture.
Michael Vick
What does a man do when he has fame and fortune? He runs a dog fighting ring of course. Michael Vick shocked many of his fans when it was discovered he funded an illegal dog fighting ring on his property. His arrest led to him being let go from the Atlanta Falcons and fired from endorsements. He is currently serving time in federal prison.
President-Elect Barack Obama
Senator Barack Obama made history by being the first black candidate to win a major party nomination. He went on to become the nation's first black President. He also set records in fundraising during his presidential campaign. President-Elect Obama will be sworn into office on January 20, 2009.
City of Lithonia
2008 also saw one of the nastiest and most embarrassing squabbles in politics Mayor Joyce McKibben vs. the Lithonia City Council and Lithonia Police Chief Willie Rosser. All parties behaved badly after the brouhaha when the Mayor attempted to fire the police chief. The city council rehired the chief and proceeded to lock the mayor out of city hall. Lawsuits were filed, people were arrested and prosecuted. It led to city government grinding to a crawl. Lithonia became the fodder for You Tube entertainment and numerous news reports over the political conflict. Eventually the Mayor’s rivals mounted a campaign that was successful in her being recalled and a new Mayor was elected. It’s funny how the Mayor is the only one out of a job when members of the city council and the police chief deserve to be ousted as well. Still no one really acknowledges the reason the battle lines were drawn in the first place. The mayor accused the Police Chief of unauthorized purchases and hiring issues.
