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 Post subject: McDermott perpetuates Hammond's Baa Credit Rating.
PostPosted: Fri Jun 21, 2013 6:08 am 
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Joined: Thu May 01, 2008 8:25 pm
Posts: 5662
Quote:
Important Hammond Numbers
Populatlon-83,000 in Hammond; 485,000 in Lake County; 9 million in the greater Chicago metropolitan area
Area-25.1 square miles
Area Code?219
Zip Codes-46320, 46323, 46324, 46327, 46394
2 universities
23 public schools
40 parks
1100 slips in the Hammond Marina
Incorporated: 1884

Government
Elected Mayor (4-year term)
Nine City Council members (4-year terms); 6 council districts + 3 council members "at large"
City Court
City Clerk
5-member elected School board

Fiscal Health
Since 1997, the Controller's office has received the Certificate for Excellence in Financial Reporting from the Government Finance Officers Association of the U.S. and Canada, the highest form of recognition in government accounting and financial reporting.

Since 2000, the City's bond rating has been Baa.


The City routinely applies for and receives maximum awards from state and federal sources for infrastructure, capital, and environmental improvements.
Services

A highly trained and dedicated police force of 211 officers; steady reduction in crime over the past decade; new state-of-the-art facility

A professional fire department of 180. The Insurance Services Office (ISO) rates Hammond's fire protection at Class Three, one of the best in Northwest Indiana.

Hammond maintains its own HazMat team, as well as a state-of-the-art confined space training facility.
State-of-the-art equipment throughout the city in Police, Fire, Streets, Sanitation and Recycling departments
The Water Department and the Hammond Sanitary District quality meet or exceed all federal, state, and local established quality standards.

Business Opportunities
Several Hammond entities work together to assist businesses with site location, tax benefits and incentives, training issues, expansion and upgrades, and business loans.
The starting point for your inquiries is the Mayor's Office of Economic Development, located at 649 Conkey Street, Hammond 46324; 219.853.6508. See the Business Opportunities section for more detailed information.

http://www.gohammond.com/web/57.22.0.0.1.0.phtml




I guess Mayor Thomas McDermott Jr, must be very proud of Hammond's Credit Baa credit rating. The above was found on on gohammond. It's one of the dirty little secrets Tom seldom talks about on his weekly radio show.

Tom, With $35,000,000 to $40,000,000 a year in Casino Revenue, $445,000,000 to $520,000,000 some where around a half billion dollars of income, over the last 13 years, why does the city have a Baa Credit Rating?
[/size]

The Auditor's office has Certificate for Excellence in Financial Reporting from the Government Finance Officers Association of the U.S.? Really? [/i][/b]


Tom, who's bluffing here Mr. Finance?

Image

Hammond's credit is just above Speculative Grade...

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XMPT wrote in Dermott Minions now stating No Sweet House? Posted: Sat Mar 12, 2011 9:04 am. Hammonite you might want to say a prayer to your God for freetime. She got back what she dished out.


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 Post subject: Re: McDermott perpetuates Hammond's Baa Credit Rating.
PostPosted: Mon Jun 24, 2013 9:24 pm 
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McDeremott spends $970,000 on Harrison Park Tennis court project. $970,000 WTF

No wonder Hammond has a BAA credit rating.... Nice Tom.

Contractors make out and one of tom's campaign contributor's who has a architectural firm....his daughter gets a job as a teacher at the school, they form a corporation, and received the nod for the food service contract for the charter school...the charter school built by the same architectural firm with out a food service kitchen.

Lake County Style...

Some might think all it takes is $5k in campaign contributions.

Cost over runs on the construction of the Charter School were never made public... some say they were substantial.


No wonder Hammond has a BAA credit rating....almost junk bond rating..... Nice Tom.

Sweet~!

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XMPT wrote in Dermott Minions now stating No Sweet House? Posted: Sat Mar 12, 2011 9:04 am. Hammonite you might want to say a prayer to your God for freetime. She got back what she dished out.


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 Post subject: Re: McDermott perpetuates Hammond's Baa Credit Rating.
PostPosted: Tue Jun 25, 2013 8:59 pm 
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The city has had over a half billion dollars of revenue from the casino boats... $35,000,000 over 12 years....

Tom made sure Eddie Krusa got paid 4 years of salary up front, a sweet $250,000, illegal, but no criminal charges.

Tom allowed a subordinate to form and operate an ATM business, with free rent, when their responsibility wast to assure Hammond fiscal records were adequately maintained and if you have read any of Hammond's recent state audits, they have been more than fiscally unsound.

Over 100,000 people attend the festival of the lakes, and tom can come up with receipts for only 4,400 cars. Better than 60,000 people arrival at the fest is in question and over $250,000 in missing parking receipts.

Salinas gets busted for taking $10,000 from dave's tree service, Jr brought them to Hammond, thanks to Cantrell, and takes in $4,000 a year in campaign contributions?

Tom built three $1.2 million dollar baseball fields.... when hammond is falling apart.... why?

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XMPT wrote in Dermott Minions now stating No Sweet House? Posted: Sat Mar 12, 2011 9:04 am. Hammonite you might want to say a prayer to your God for freetime. She got back what she dished out.


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 Post subject: Re: McDermott perpetuates Hammond's Baa Credit Rating.
PostPosted: Wed Jun 26, 2013 7:18 am 
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Quote:
http://bluecountyredstate.blogspot.com/2013/06/who-is-justin-murphy.html#links

Who is Justin Murphy?
Justin Murphy is a hooked up Democrat lawyer.

Would it surprise you that he's connected to the Potash deal in Hammond, and that it looks like that project violated scores of laws with its development (like not having building permits, a timely SWPPP, illegal tie ins to the Hammond Sanitary district system, etc.). Because of its shoddy development, flooding of adjacent properties is now routine.


The degrees of separation between Murphy and McDermott are zero. Thus, if the FBI wanted to bust McDermott, this is the project and the person to go through, because it all stinks.
Posted by Buzzcut at 6/24/2013 4 comments: Links to this post


and Tom McDermott Jr gave Potash, a Canadian firm, one of north america's most profitable corporations $10,000,000 of free money, to do what they wish.

$10,000,000 more in Hammond debt, now at $176,000,000 of pending debt. Potash's operations were noted to bring 7 jobs into Hammond.... seven, that number is now been reduced to 5.

If Buzz post is accurate, another Federal Investigation involving McDermott's activities....and Hammond residents saddled with more debt.

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XMPT wrote in Dermott Minions now stating No Sweet House? Posted: Sat Mar 12, 2011 9:04 am. Hammonite you might want to say a prayer to your God for freetime. She got back what she dished out.


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 Post subject: Re: McDermott perpetuates Hammond's Baa Credit Rating.
PostPosted: Wed Jun 26, 2013 1:01 pm 
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Is Baa credit in regards to the Hammond sheep trade?

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Amy, why don't you stick to things that you do well like having kids rather than things you are neither capable nor motivated to even do poorly such as think and act like a mature adult - George T Janiec (I know,I'm childish)

What about the kids, George?


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 Post subject: Re: McDermott perpetuates Hammond's Baa Credit Rating.
PostPosted: Wed Jun 26, 2013 5:40 pm 
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Amy Wigs wrote:
Is Baa credit in regards to the Hammond sheep trade?




That's funny.

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Eat it up, wear it out, make it do, or do without.


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 Post subject: Re: McDermott perpetuates Hammond's Baa Credit Rating.
PostPosted: Sun Jun 30, 2013 2:45 pm 
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Joined: Tue Nov 21, 2006 7:29 am
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http://www.nwitimes.com/news/opinion/co ... bb883.html


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 Post subject: Re: McDermott perpetuates Hammond's Baa Credit Rating.
PostPosted: Mon Jul 01, 2013 5:12 am 
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xmpt wrote:
http://www.nwitimes.com/news/opinion/columnists/guest-commentary/guest-commentary-put-hammond-s-debt-in-proper-perspective/article_8af8c697-8866-529a-b0de-046af44bb883.html




Quote:
lubu

PostPosted: Sun Jun 30, 2013 8:20 pm
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That McDermott would bring a per capita argument to the question of debt can mean that he doesn't understand it, that he is trying to mislead, or both. Any resident can literally walk away from the debt obligations that Hammond has incurred, except for real property owners who will be facing lowered property values. Per capita is exactly the wrong metric for debt. Whiting and EC have very high personal property values in the form of mills and the BP refinery. Their debt ratios per capita can appear skewed high because their debt will be mostly paid from taxes on industrial personal property. For every dollar per capita to pay Whiting's debt, many more times that will come from personal property tax on BP. As Hammond does not have that infrastructure to tax to pay it's debts, it's a bigger concern for Hammond even if Tom won't admit it. It's ironic that Mcdermott dismisses a Times' writer by saying “you can make numbers say whatever you want them to.” Tom McDermott and his handlers know that game very well.

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XMPT wrote in Dermott Minions now stating No Sweet House? Posted: Sat Mar 12, 2011 9:04 am. Hammonite you might want to say a prayer to your God for freetime. She got back what she dished out.


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