Tag Archives: Bond Payments

Is “Team” Snyder tied to Kawme Kilpatrick’s Criminal Enterprise?

February 25, 2014 12:50 pm \ Leave a Comment \ by rabman13

Governor Rick Snyder’s economic “team” was one of several contractors who pumped millions into ex-Mayor Kwame Kilpatrick’s alleged criminal enterprise. Although the government hid the companies’ identities in the indictment, public records and interviews helped put names to aliases. The list of companies includes deep-pocketed donors and powerful executives. Hmmm… maybe that’s why the governor chose to abolish the “Nerd Fund” rather than to expose his donors?

The companies involved are going to be needed by the FBI and the U.S. Attorney’s Office to help prosecute the case. “It’s always hard to say whether the payer of a bribe is culpable or a victim of the crime,” said Peter Henning, a law professor at Wayne State University and former federal prosecutor.

“Sometimes that’s hard to distinguish.” So far, most executives linked to the corruption probe have escaped indictment. Some witnesses were granted immunity and others are victims, U.S. Attorney Barbara McQuade said.

Among the contractors who were allegedly extorted to retain Bobby Ferguson as a subcontractor include Walbridge, a general contractor headed by John Rakolta Jr., a longtime area powerbroker who was recently named to the Michigan Economic Development Corp. (MEDC) by Snyder. Wayne County and its Building Authority has filed a law suit seeking to recover $154 million from 3 jail contractors including John Rakolta’s Walbridge.

John Rakolta’s film studio, Raleigh Film Studios in Pontiac was awarded taxpayer funded subsidies when this studio defaulted on it’s bond payments the taxpayers of Michigan are now on the hook for making those missed payments through the under funded state pension fund. These subsides were awarded through the “failed” MEDC prior to Rakolta being appointed to the MEDC board. Can you say conflict of interest?

As of Sept. 30, 2010, the Michigan Public School Employees’ Retirement System and the Michigan State Employees’ Retirement System were unfunded by $21.7 billion.

The “secrecy” and back-door “deals” are very suspect to say the least surrounding politicians, government, and businessmen and looks to be a scheme (scam) bilking the taxpayers of Michigan out of millions of tax dollars all for political and financial gains. Let’s just hope and pray that U.S. Attorney Barbara McQuade and her “team” continue looking down this rabbit hole of corruption and bring those businessmen and politicians to justice.
http://www.detroitnews.com/article/20101217/METRO/12170403&template=artiphone

Additional Sources:
http://www.crainsdetroit.com/article/20131031/NEWS/131039973/wayne-county-files-suit-seeks-to-recover-154-million-from-3-jail

Bob Ficano, John Rakolta And The Big Jail Problem
http://www.deadlinedetroit.com/articles/5094/bob_ficano_john_rakolta_and_the_big_jail_problem

Feds’ subpoenas target Wayne County business dealings
http://www.freep.com/article/20111117/NEWS02/111170499/Feds-subpoenas-target-Wayne-County-business-dealings

Wayne County Executive Bob Ficano replaces top officials (Romney related)
http://www.freerepublic.com/focus/f-news/2805204/posts

So, what was Schuette’s cut?
http://rightmi.com/old/www.rightmichigan.com/story/2013/11/4/113017/236.html

Suspicions sometimes followed after Kilpatrick, Ficano dealings along with John Rakolta
http://www.crainsdetroit.com/article/20120909/FREE/309099962/suspicions-sometimes-followed-after-kilpatrick-ficano-dealings

John Rakolta allegedly through media reports donated $10,000.00 to Democrat Bob Ficano’s campaign war chest only to receive the contract for the new Wayne County jail project.
http://bainreport.wordpress.com/2013/11/24/welcome-to-michigans-world-of-the-political-illusion/

Public Employee Pension Systems Raided To Pay Film Studio Bills
http://www.michigancapitolconfidential.com/18384

Michigan-Subsidized Film Studio Fails; State Pension Fund Had Guaranteed Loan
http://taxfoundation.org/blog/michigan-subsidized-film-studio-fails-state-pension-fund-had-guaranteed-loan

House Cuts $25M State Film Subsidies in Proposed Budget – Not So Fast Say’s Richardville
https://bainreport.wordpress.com/2013/04/26/house-cuts-25m-state-film-subsidies-in-proposed-budget-not-so-fast-says-richardville/

Report: State pension funds bankroll Pontiac studio; taxpayers lose on films
http://www.theoaklandpress.com/general-news/20130308/report-state-pension-funds-bankroll-pontiac-studio-taxpayers-lose-on-films

Michigan Pensions Cover Missed Bond Payment for Film Studio
http://news.heartland.org/newspaper-article/2012/02/02/michigan-pensions-cover-missed-bond-payment-film-studio

Posted in: Bain Report, Politics, The Bain Report \ Tagged: back-door “deals”, bond payments, business dealings, Businessmen, campaign, contractors, Corruption, Criminal Enterprise, deep-pocketed donors, defaulted, economic team, ex-Mayor Kwame Kilpatrick, FBI, federal prosecutor, government, Governor Rick Snyder, indictment, John Rakolta Jr., Law, MEDC, MEDC board, Michigan Economic Development Corp., Michigan Public School Employees’ Retirement System, Michigan State Employees’ Retirement System, millions, millions of tax dollars, Missed Bond Payments, Nerd Fund, political and financial gains, Politicians, powerbroker, powerful executives, rabbit hole, Raleigh Film Studios, Scam, Scheme, secrecy, subpoenas, suspect, Suspicions, taxpayer funded subsidies, taxpayers of Michigan, terrorism, Terrorist, U.S. Attorney, U.S. Attorney Barbara McQuade, under funded state pension fund, Walbridge

Michigan’s False “Comeback” Offer Taxpayer Funded “Bribes” to Businesses

February 3, 2014 1:01 pm \ 1 Comment \ by rabman13

So you think we have “principled” Republican control in Lansing? Think again! Michigan ranks 38 out of 50 states in per-capita income, 42nd in business climate. Michigan had the fifth highest per-capita income in America in 1953. So what has our politicians done to reverse this trend? They do what any crony capitalist would do they offer “bribes” to these companies with taxpayer dollars to stay in the state.

Kurt Darrow, CEO of La-Z-Boy said La-Z-Boy never found a reason compelling enough to uproot its employees and leave Michigan but if Michigan through the “failed” MEDC didn’t pony up the dough to help build it’s new headquarters they would move elsewhere! Ohio was actively pursuing them to relocate to their state with subsidies.

Dan Swallow, director of economic and community development for Monroe, said the two grants and the tax abatement were paramount to keeping La-Z-Boy fully committing to staying in Monroe. The company had stated it would remain in Monroe if everything could be worked out, but if it couldn’t, it might be forced to go to another county or state.
http://www.toledoblade.com/Retail/2012/12/21/La-Z-Boy-a-big-step-closer-to-new-headquarters-Michigan-OKs-3-7M-aid-for-50M-project.html

The company’s third-quarter profit soars! Michigan-based La-Z-Boy said Tuesday its operating income was up 37 percent in the fiscal 2013 third quarter, to $23.3 million, compared with $17 million in the same quarter of 2012. The company ended the quarter with $112 million in cash and equivalents.
http://www.prnewswire.com/news-releases/la-z-boy-reports-fiscal-2013-third-quarter-results-191882971.html

Note: Republican Senate Majority leader Randy Richardville is a former employee of La-Z-Boy
http://en.wikipedia.org/wiki/Randy_Richardville

(Continue reading below the picture)

The Snyder re-election campaign starts with 6 stops around Michigan. Snyder’s campaign says the Monday stops are at James Group International in Detroit, Two Men and a Truck in Lansing and at Downtown Market in Grand Rapids. Two Men and a Truck recently received taxpayer funded subsidies to expand it’s business through the “failed” MEDC to expand its corporate headquarters in Lansing.

Because of the “failed” MEDC and it’s non-transparent policies there’s no telling how much of “our” tax dollars are being funneled to these businesses here in Michigan. One thing is certain and that’s the fact that “we taxpayers” are being taken for one hell of ride in this “scam”.

The cronyism and theft of “our” tax dollars continues with the “Friends and Family Program” along with the Republicans “Buddy Fund” administered by our elected officials in Lansing. Snyder recently appointed John Rakolta, CEO of Detroit-based construction firm Walbridge and partner of the “failed” Raleigh Film Studio in Pontiac to the board of the MEDC. Oh and by the way we taxpayers are now on the hook for that studios failed bond payments. Can you say “conflict” of interest?

Michigan Republican Party chairman Bobby Schostak is also receiving not just federal subsidies for his new skyscraper high raise office building in Detroit but is seeking state subsidies as well through the MEDC. If you remember Mr. Schostak got his legislative buddies in Lansing to pass “a mortgage bill for one” as to “bailout” his brother who he is partners with in Schostak Brothers & Company, Inc. that saved them from paying a $2.4 million judgement of a foreclosure in their Cherry Land Mall in Traverse City Michigan.
http://www.freep.com/article/20120331/NEWS15/203310415/

Note: Meridian Health Plan is expected to be the sole office tenant in the taxpayer funded Schostak office building in Detroit. Governor Snyder appointed Meridian to administer the new Medicaid (SnyderCaid) expansion/ObamaCare.
http://www.crainsdetroit.com/article/20130918/NEWS/130919855/meridian-health-plan-expected-to-move-into-16-story-detroit-building

When will the citizens and voters of Michigan wake up to the fact that it’s not just the Democrats that is the problem it’s this kind of Republican control as well. While I am appalled at the liberal progressive socialist policies of the Democrats I am equally appalled at the these same types of policies that we are seeing from the so-called Republicans we now have in Lansing.

Other Sources:
http://www.freep.com/article/20120401/COL04/204010479/Brian-Dickerson-In-Lansing-a-mortgage-bill-tailored-for-one

http://www.freep.com/article/20131030/COL06/310300170/Tom-Walsh-La-Z-Boy-Meijer-John-Engler

http://www.michiganbusiness.org/press-releases/governor-joins-in-celebration-of-two-men-and-a-truck-expansion/

http://www.detroitnews.com/article/20130220/BIZ/302200331

https://www.mackinac.org/features/search/?text=film&site=MCC&count=100

http://michiganfilmcreditsecrets.blogspot.com/

Public Employee Pension Systems Raided To Pay Film Studio Bills – Michigan teachers and state employee systems paid $1.68 million so far for Pontiac studio
http://www.michigancapitolconfidential.com/18384

Michigan-Subsidized Film Studio Fails; State Pension Fund Had to Guarantee Missed Loan Payments
http://taxfoundation.org/blog/michigan-subsidized-film-studio-fails-state-pension-fund-had-guaranteed-loan

Posted in: Bain Report, Politics, The Bain Report \ Tagged: bond payments, citizens, comeback kid, Corruption, crony, Cronyism, FBI, liberal, MEDC, Michigan, migop, progressive, reinvention, republican, schostak, senators, snyder, Subsidies, taxpayers, terrorism, Tyranny, voters