Discuss Detroit » Archives - July 2008 » Cockrel terminates contracts « Previous Next »
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Spiritofdetroit
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Username: Spiritofdetroit

Post Number: 1244
Registered: 11-2006
Posted on Wednesday, November 12, 2008 - 3:03 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

http://www.clickondetroit.com/ news/17965377/detail.html

excerpt:

Detroit Mayor Ken Cockrel, Jr. has terminated four contracts in hopes of saving the city money.

The contracts were with four investment firms; Alpha Partners, Ambassador Capital, First Independence Investments, and HGK Asset Management, Inc.

The mayor said terminating the contracts will save the city over $2 million annually.
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Raptor56
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Username: Raptor56

Post Number: 618
Registered: 05-2007
Posted on Wednesday, November 12, 2008 - 3:52 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

"The city may still be working with some of these firms on other matters, however, since state law strictly limits the types of securities that can be purchased by the city, we do not need an investment firm telling us what to do, or in this case four investment firms, when we can handle our investments in house and within the Finance Department, as was done before the previous administration," said Cockrel.

Cockrel said he will continue to look at other contracts to see where else money is being spent and wasted.


AMEN!!!! I almost can't believe my eyes. The City of Detroit SAVING money!
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D_mcc
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Username: D_mcc

Post Number: 1583
Registered: 12-2007
Posted on Wednesday, November 12, 2008 - 4:12 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

weird...that whole common sense thing again...
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Spiritofdetroit
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Username: Spiritofdetroit

Post Number: 1245
Registered: 11-2006
Posted on Wednesday, November 12, 2008 - 5:36 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

I wonder why Kwame's administration was the only one to outsource this stuff. Gotta wonder who and why those people got the contracts they got....

Another job well done for Cockrel.
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Rid0617
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Username: Rid0617

Post Number: 346
Registered: 03-2008
Posted on Thursday, November 13, 2008 - 2:16 am:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

Liking him the more I hear about him
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Reddog289
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Username: Reddog289

Post Number: 692
Registered: 08-2007
Posted on Thursday, November 13, 2008 - 5:24 am:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

Where is Bobby Fergeson in all of this?
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Zulu_warrior
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Username: Zulu_warrior

Post Number: 3557
Registered: 10-2003
Posted on Thursday, November 13, 2008 - 9:47 am:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

3 of the 4 firms were Black owned businesses, perhaps Kilpatrick wanted to outsource for executive order 22 reasons...?
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Daddeeo
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Username: Daddeeo

Post Number: 295
Registered: 09-2008
Posted on Thursday, November 13, 2008 - 1:38 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

It's about time!!
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Digitalvision
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Username: Digitalvision

Post Number: 1440
Registered: 11-2003
Posted on Thursday, November 13, 2008 - 3:41 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

That makes sense, Zulu... don't get me started on EO22..... I don't want to derail this thread.
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Detroitnerd
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Username: Detroitnerd

Post Number: 3643
Registered: 07-2004
Posted on Thursday, November 13, 2008 - 3:50 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

A black-owned business was the contractor who came up with those wonderfully durable, scrapper-proof streetlight "shrouds" -- so I guess it's not all bad. :-)
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Sharmaal
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Username: Sharmaal

Post Number: 1391
Registered: 09-2004
Posted on Thursday, November 13, 2008 - 3:58 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

First Independence Investments -

Donald Davis- Chairman of the Board First Independence National Bank.

http://www.wwj.com/pages/18966 24.php?


http://www.detnews.com/apps/pb cs.dll/article?AID=/20080424/M ETRO/804240386

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