Blog: redenamel

Entries for August, 2011

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I Cry Over MoDOT's Spilled Milk

MoDOT tends to have a hard time admitting to mistakes. Selling bonds was apparently considered a mistake in 2003 when they stopped before selling half of all they were authorized to sell. Only a year later, Amendment 3 was passed, and with the new money available to them, MoDOT obligated ...

A Facebook Exchange With MoDOT

Freddie Beechwood on Tuesday, Aug 23, 2011 It's my understanding that the Highway Commission sold bonds to enable a construction boom the last several years. I read that $2.2 billion in interest will now be owed on the bonds over the next 20 years. Why were these taxpayer dollars intentionally ...

QUESTIONABLE MODOT PRACTICES

During MoDOT's recent accelerated projects, some questionable practices took place. For example, millions were handed out to contractors in bonuses, and agreements were made obligating MoDOT to pay millions of dollars to partners if projects weren't completed by the promised dates. The following case was written in a Hannibal newspaper ...

The Truth about Amendment 3's Redirected Vehicle Taxes

People may think that MoDOT's money problems are due to decreased tax revenue from gasoline sales and increased highway costs. That's correct to a point, but the mismanagement of state funds has resulted in much greater losses. The ballot language for Missouri's 2004 Amendment 3 stated "Shall the Missouri Constitution ...

MoDOT - Selling Bonds is Bad, So Let's Do It Again..and Again!

In March 2004, newspapers reported that MoDOT blamed their previous selling of "Senior Lien" bonds as the reason they were dangerously low on funds, so they had wisely stopped selling the bonds in 2003 at $907 million of the $2.25 billion authorized, leaving them with payments of $75 million a ...

Why MoDOT Management Has It Out For Their Employees

In a recent blog entry, I mentioned that MoDOT management would like to eliminate their mandatory contribution to the retirement fund, and that I would go into this more in another entry. MoDOT management threw a fit regarding a shortfall in the retirement system funds in October 2009. Mostly due ...

STATE WORKERS - Senate Hearing Aug 15 2011 on making cuts

To State Employees - It's ugly, it's heartless, it's unethical, and it's walking a thin legal line !! BEWARE, because the Missouri State Senate is looking at bringing it your way. The "it" monster is MoDOT's Bolder Five Year Plan. The Senate Governmental Accountability Committee is scheduled on Aug 15 ...