Spiritofdetroit Member Username: Spiritofdetroit
Post Number: 1244 Registered: 11-2006
| Posted on Wednesday, November 12, 2008 - 3:03 pm: | |
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. |
Raptor56 Member Username: Raptor56
Post Number: 618 Registered: 05-2007
| Posted on Wednesday, November 12, 2008 - 3:52 pm: | |
"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! |
D_mcc Member Username: D_mcc
Post Number: 1583 Registered: 12-2007
| Posted on Wednesday, November 12, 2008 - 4:12 pm: | |
weird...that whole common sense thing again... |
Spiritofdetroit Member Username: Spiritofdetroit
Post Number: 1245 Registered: 11-2006
| Posted on Wednesday, November 12, 2008 - 5:36 pm: | |
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. |
Rid0617 Member Username: Rid0617
Post Number: 346 Registered: 03-2008
| Posted on Thursday, November 13, 2008 - 2:16 am: | |
Liking him the more I hear about him |
Reddog289 Member Username: Reddog289
Post Number: 692 Registered: 08-2007
| Posted on Thursday, November 13, 2008 - 5:24 am: | |
Where is Bobby Fergeson in all of this? |
Zulu_warrior Member Username: Zulu_warrior
Post Number: 3557 Registered: 10-2003
| Posted on Thursday, November 13, 2008 - 9:47 am: | |
3 of the 4 firms were Black owned businesses, perhaps Kilpatrick wanted to outsource for executive order 22 reasons...? |
Daddeeo Member Username: Daddeeo
Post Number: 295 Registered: 09-2008
| Posted on Thursday, November 13, 2008 - 1:38 pm: | |
It's about time!! |
Digitalvision Member Username: Digitalvision
Post Number: 1440 Registered: 11-2003
| Posted on Thursday, November 13, 2008 - 3:41 pm: | |
That makes sense, Zulu... don't get me started on EO22..... I don't want to derail this thread. |
Detroitnerd Member Username: Detroitnerd
Post Number: 3643 Registered: 07-2004
| Posted on Thursday, November 13, 2008 - 3:50 pm: | |
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. |
Sharmaal Member Username: Sharmaal
Post Number: 1391 Registered: 09-2004
| Posted on Thursday, November 13, 2008 - 3:58 pm: | |
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 |