South DaCola

Editorial Cartoonist from South Dakota

economy

economy

Gargoyle Leader columnist, Okerlund, slams our Washington Delegation. BRAVO.

l3wis 0Comments

I have always enjoyed Matt’s columns, he is one of the few independent voices at the AL. This part of his Sunday’s column was a real zinger;

U.S. Sen. John Thune has shown little inclination to offend the Republican Party or corporate interests. On the contrary, they appear to have him on speed dial.

When Congress finally found the courage to curtail the brazen abuses that the credit card industry long has been inflicting on consumers, U.S. Rep. Stephanie Herseth Sandlin voted against the bill – the only Democrat in the House to do so.

U.S. Sen. Tim Johnson was the sole Democrat in the Senate to vote against the bill. Johnson also is a member of the Senate Banking Committee, which, when omens of financial doom were everywhere, completely whiffed.

This reminds me of a conversation I had with Sioux Falls mayoral candidate, Mike Heuther this week after he told me he quit working at First Premier, (paraphrasing). “I won’t do the bidding of Denny Sanford.” That’s good to hear Mike, you should pass that message onto your Democratic counterparts in Washington. Don’t bother with Ironic Johnny, he is a lost cause.

Matt also states the obvious in his column;

So get set for more antics once financial industry reform replaces health care reform on Capitol Hill.

More disinformation.

More duplicity.

More defamation.

More lies.

More scare tactics.

More name-calling.

Get out!

economy SD

What Recession?

l3wis 1Comments

rose_colored_glasses

Let’s put our rose colored glasses on, raise water and sewer rates, raise retail taxes, raise property taxes, raise vehicle registration, and over budget for deficit spending in 2010. We’ll pull out;

The foundation commissioned a national poll that surveyed 4,004 people between June 18 and July 13, including 400 South Dakotans. The poll has a margin of error of plus or minus 3.5 percentage points. Among its key findings:

– 29 percent of respondents in South Dakota said they had problems paying their mortgage, rent or heating bills.

-  44 percent said they’ve cut back on the amount they spend on food; 45 percent have cut back on saving for retirement.

-  And 22 percent have had a friend or relative stay with them because of a lack of money.

“That 22 percent may be the single most striking figure in the survey data for me,” said Kevin Walker, Northwest’s chief executive officer. “That tells me one out of five South Dakotans have provided emergency or transitional shelter. That really brings home the impact of the recession on families and communities.”

Having trouble keeping up? Stop whining and move in with a friend, we gotta city to build God Dammit!

economy Sioux Falls State Legislature

Gee, willickers, could have seen this coming a mile away

l3wis 0Comments

Construction values are 50% of what they were last year at this time;

The number of building permits issued in Sioux Falls through August this year is up from the same time in 2008, though the value of that construction is down significantly.

Sioux Falls has issued 4,308 permits this year, up from 4,242 in 2008 but still down substantially from the 4,564 permits issued in 2007, according to city records.

But the total construction value in 2009 of $176.7 million is down from 2008, when the numbers through August were at $294.1 million.

There have been 681 new single-family, two-family and multiple-family permits issued in 2009 at a value of $71.3 million.

That compares to 1,016 new residential permits approved through August of 2008 at a value of $114.6 million.

This is no surprise to me, if you have been following the local economy as I have since last fall, you could have seen this coming a mile away. But city hall put their blindfolds on and approved a tax increase to build new roads anyway. While this is bad news for our local economy, it is good news to taxpayers. It means we can hold off on building new roads until it picks up, therefore saving us millions in the CIP budget, money we can either put in reserves or use on infrastructure upgrades (which should be the priority anyway). If developers can’t pony up their 50% towards new roads, taxpayers shouldn’t pony up either. According to the July financial report, taxpayers have put in $1.6 million into the new fund this year while developers have put in a whopping $90,000. Yes, we have put in 17x more money then the devolpers. Yet, the SD MSM doesn’t see a story here? Go figure. Of course this would require a new council that isn’t spend happy. In the informational meeting on Monday, councilor Beninga had a pity party about not having enough time to offer amendments to 2010’s budget, which probably means he will offer very few if any at all. The funny part of the conversation was when clerk Owen informed all the councilors that Staggers already turned in his (he was absent from the meeting). They seem shocked, and one councilor joked, “He has been probably working on them for a year.” Not quite. Then they asked if they could see them, and she replied that she would have to get permission from Staggers to show them. The city attorney’s office apparently is unaware of the new open records bill that started July 1. Quen Be De also got on her soapbox about wanting to raise the retail tax by a penny, and joked that not all the wisdom in the state resides in Pierre in the winter. While I do agree with her statement, I would have to say most legislators probably have more intellect in the tip of their little toe then she has in her whole body.

I can’t wait for the retail tax increase legislation to fail. Maybe I will throw a party.

economy Sioux Falls

SF rapid and reckless growth is going to end up biting us in the ass

l3wis 10Comments

cartoon_dog_biting_a_mailman_in_the_butt_royalty_free_clipart_picture_090720-055246-021042

We also should have been spending more money on maintaining existing infrastructure instead of squandering it on $3 million dollar streets to nowhere;

The next mayor of Sioux Falls could face some tough decisions unless sales tax revenues begin growing at a healthy pace by next year.

Even rosy revenue forecasts call for the city to use a generous amount of reserve funds over the next several years to keep up with growth in the city’s general operating fund, which pays for basic services such as public safety and snow plowing. A new mayor takes office next spring.

And Finance Director, Eugene ‘Montgomery Burns’ Rowenhorst wants to give his advice to the next mayor;

The city’s revenue forecasts call for a 4 percent rate of growth in sales taxes next year, and 6 percent each year following 2010. Absent that type of growth, city Finance Director Eugene Rowenhorst predicts the next mayor will be forced to find “expense controls.”

Thanks, Gene. Maybe if you and Dave would have been doing your jobs we would not be in this mess. It’s called being ‘fiscally responsible’ – But what do you expect from a couple of Citibank pencil pushers.

Kyle Helseth, deputy director of the Minnehaha County Equalization Department, notes that there is an upside to slower growth in building permits. The city would have to spend less on new streets and utilities.

I have said all along that I’m for growth, but you should do it slower and wiser not fast and reckless. Since we grew so fast it may come to a steaming halt and then the shit will hit the fan affecting more then just property tax revenue.
the next mayor, who will be elected in April, could face the prospect of making painful cuts.
Could? More like Will.

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