Some blame the workers for the Cities past financial problems

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December 5th, 2007, 09:22 AM
Deerhunter

Some blame the workers for the Cities past financial problems

City "forgives" 8 million dollar city-backed construction loan to Buffalo businessman Paul L Snyder. What he did was settle for $700,000. So the City got less than 10% back on the loan. Who paid for that ? City taxpayers. In May, Snyder received 5.1 million in a State grant to revitalize his Hyatt hotel.

I would like to take an $80,000 loan and pay back $7,000. Wouldn't everyone ? As well, Snyder says the Hyatt hasn't turned a profit in 23 yrs. Great businessman. How are they still in business ? Or are they "cooking the books" to wipe out any profit ? Makes you wonder.

I would like to see Mr Snyders salary for being owner of the hotel, being that public money is involved.

While it is good to see the City on firm financial ground, giving millions away, then saying it can't pay the workers seems a bit hypocritical.
December 5th, 2007, 10:54 AM
unioncop

isnt that the way it also is? I wonder if he makes more then us?
December 5th, 2007, 12:22 PM
FisherRd

The city management IMO holds the vast majority of the blame for the city's financial situation.
Bad decision after bad decision.

That being said, the unions basically have the city bent over a barrel. The unions aren't going to take a step back without a concession. If the unions are dealing from a position of power (meaning they aren't ever going to take a step back) then what possible answers can the city come up with to placate the unions in a negotiation?
December 5th, 2007, 12:31 PM
CSense

Quote:

Originally Posted by FisherRd

The city management IMO holds the vast majority of the blame for the city's financial situation.
Bad decision after bad decision.

That being said, the unions basically have the city bent over a barrel. The unions aren't going to take a step back without a concession. If the unions are dealing from a position of power (meaning they aren't ever going to take a step back) then what possible answers can the city come up with to placate the unions in a negotiation?

Nothing.

That is why the Fireman shot down the agreement that came before them. Next up will be the white collar union for city workers. It will be comical to see how things play out between Brown's spin meisters and the unions.
December 5th, 2007, 12:35 PM
Velvet Fog

Quote:

Originally Posted by CSense

Nothing.

That is why the Fireman shot down the agreement that came before them. Next up will be the white collar union for city workers. It will be comical to see how things play out between Brown's spin meisters and the unions.

The best part is that these morons voted Brown in because he was "with the unions." All Fools!
December 5th, 2007, 01:06 PM
leftWNYbecauseofBS

Quote:

Originally Posted by Deerhunter

City "forgives" 8 million dollar city-backed construction loan to Buffalo businessman Paul L Snyder. What he did was settle for $700,000. So the City got less than 10% back on the loan. Who paid for that ? City taxpayers. In May, Snyder received 5.1 million in a State grant to revitalize his Hyatt hotel.

I would like to take an $80,000 loan and pay back $7,000. Wouldn't everyone ? As well, Snyder says the Hyatt hasn't turned a profit in 23 yrs. Great businessman. How are they still in business ? Or are they "cooking the books" to wipe out any profit ? Makes you wonder.

I would like to see Mr Snyders salary for being owner of the hotel, being that public money is involved.

While it is good to see the City on firm financial ground, giving millions away, then saying it can't pay the workers seems a bit hypocritical.

I agree that this is BS. Steel/Leets made a good point somewhere that this should not stay as a hotel but be converted to housing units. I like that idea.
December 5th, 2007, 01:52 PM
CSense

Quote:

Originally Posted by leftWNYbecauseofBS

I agree that this is BS. Steel/Leets made a good point somewhere that this should not stay as a hotel but be converted to housing units. I like that idea.

I don't disagree but timing is needed. I think we need more businesses (retail/services/commercial) now. There are so many apartments and condos coming online or in the planning stages that now we need something to keep them here.
December 6th, 2007, 12:54 AM
NoCtUrNaL

Quote:

Originally Posted by Deerhunter

City "forgives" 8 million dollar city-backed construction loan to Buffalo businessman Paul L Snyder. What he did was settle for $700,000. So the City got less than 10% back on the loan. Who paid for that ? City taxpayers. In May, Snyder received 5.1 million in a State grant to revitalize his Hyatt hotel.

I would like to take an $80,000 loan and pay back $7,000. Wouldn't everyone ? As well, Snyder says the Hyatt hasn't turned a profit in 23 yrs. Great businessman. How are they still in business ? Or are they "cooking the books" to wipe out any profit ? Makes you wonder.

I would like to see Mr Snyders salary for being owner of the hotel, being that public money is involved.

While it is good to see the City on firm financial ground, giving millions away, then saying it can't pay the workers seems a bit hypocritical.

It's funny, some random dude walks into a bank with a note and robs it of a couple hundred dollars and the response is a dozen or so cops racing around in cruises while the FBI is called in; this dude (Snyder) robs all of us of millions, has the temerity to ask for forgiveness for the previous theft and then hands another stick-up note to those that are ostensibly acting as the taxpaying public's advocates and they oblige him without a wit of compunction or circumspection. The entire time the crime is printed in the paper, a paper which Snyder probably read tonight over a 24 ounce Porterhouse at EB Greens which we paid for.
December 6th, 2007, 03:17 PM
CSense

Quote:

Originally Posted by Deerhunter

City "forgives" 8 million dollar city-backed construction loan to Buffalo businessman Paul L Snyder. What he did was settle for $700,000. So the City got less than 10% back on the loan. Who paid for that ? City taxpayers. In May, Snyder received 5.1 million in a State grant to revitalize his Hyatt hotel.

I would like to take an $80,000 loan and pay back $7,000. Wouldn't everyone ? As well, Snyder says the Hyatt hasn't turned a profit in 23 yrs. Great businessman. How are they still in business ? Or are they "cooking the books" to wipe out any profit ? Makes you wonder.

I would like to see Mr Snyders salary for being owner of the hotel, being that public money is involved.

While it is good to see the City on firm financial ground, giving millions away, then saying it can't pay the workers seems a bit hypocritical.

There should be more outrage to this story but I can't remember the Buffalo snooze making a big deal out of it or the local tv stations. Can't be because there's an agenda?
December 6th, 2007, 03:45 PM
Curmudgeon

Quote:

I would like to take an $80,000 loan and pay back $7,000. Wouldn't everyone ? As well, Snyder says the Hyatt hasn't turned a profit in 23 yrs. Great businessman. How are they still in business ? Or are they "cooking the books" to wipe out any profit ? Makes you wonder.

I don't doubt that the Hyatt doesn't make any money. They don't charge a lot and it usually seems pretty vacant to me. The problem is it's the only decent name-recognizable hotel in the city. I could argue that the business needs of the city simply don't require the presence of an A-list hotel - that the city is too poor to support a Hyatt. Apparently, the market has been indicating that for some time.

It's sad how city leadership spends millions propping up this guy to keep a resource that probably isn't needed. The city should buy/foreclose the hotel and then hire a management company to operate it. If the economic climate improves, then the city can sell the appreciated asset in the future.
December 6th, 2007, 03:53 PM
CSense

Quote:

Originally Posted by Curmudgeon

It's sad how city leadership spends millions propping up this guy to keep a resource that probably isn't needed. The city should buy/foreclose the hotel and then hire a management company to operate it. If the economic climate improves, then the city can sell the appreciated asset in the future.

That's just it. Why didn't the city foreclose? I mean Synder would have been forced to at least go through bankruptcy if he wanted to shirk the city of it's cash.
December 13th, 2007, 11:13 AM
Genoobie

Uh, you can't seriously be pontificating why the city did not foreclose, can you? Of course you know the answer. Politics as usual at city hall...You show up with your hand out, whether you're a begger or a businessman, you get paid. It's all the people in the middle that try and negotiate with city hall that get the business handed to them.
December 13th, 2007, 11:36 AM
CSense

Quote:

Originally Posted by Genoobie

Uh, you can't seriously be pontificating why the city did not foreclose, can you? Of course you know the answer. Politics as usual at city hall...You show up with your hand out, whether you're a begger or a businessman, you get paid. It's all the people in the middle that try and negotiate with city hall that get the business handed to them.

What you didn't feel my sarcasm? I thought Byron was supposed to change things, cause he "loves Buffalo".
December 24th, 2007, 05:47 PM
fireman

Alcoa

Anyone read the article about NYS giving Alcoa cheap hydropower at one quarter the market rate? This amounts to a subsidy of $148,000 per employee per year! And they only have to promise not to layoff more than 120employees. Isn't the private sector great!
December 25th, 2007, 09:55 AM
citymouse

Quote:

Originally Posted by CSense

I don't disagree but timing is needed. I think we need more businesses (retail/services/commercial) now. There are so many apartments and condos coming online or in the planning stages that now we need something to keep them here.

They have a reason. They don't pay property taxes. Paladino is building primium Condos on the water front that are going to sell for between one point five and two million apiece and got a property tax exemption for the first ten years.
How about all the money Masiello gave away in EDI's to prefered developers who then let their businesses fail. Millions. Show me someone, anyone who built , or is planning to build property or a business in down town Buffalo with out some type of incentive that costs the taxpayers in real dollars or future incentives. (other than the Senecas).
But the crossing guards and garbage men are the problem.