Leaseback plan no help to public

12/26/2011

You recently opined favorably on a proposal that would allow Ohio counties to enter into sale-leaseback transactions of county property ("Preservation tool," editorial, Dec. 15).

A sale-leaseback, contrary to what you stated, is another form of long-term financing. Whether it results in savings to a county depends on the impact of complex federal tax rules. Sale-leasebacks often are used as accounting gimmicks to hide long-term financing arrangements.

My concern is that the proposal is an attempt to avoid going to voters for approval of what they ultimately will have to pay for. Whether a county issues long-term bonds or enters into a sale-leaseback transaction, the result is pretty much the same, with the taxpayer picking up the tab.

Alan Kline
Ottawa Hills

 

Courthouse, mall different, same

Seneca County commissioners want to spend money to tear down the historic, ornate, magnificent courthouse that a lot of people want to save ("Justices won't halt courthouse demolition," Dec. 22).

Meanwhile, Toledo City Council has finally agreed to spend money to raze the dilapidated North Towne Square mall, which nobody wants to save.

Gary Madrzykowski
Grosse Pointe Parkway

 

Mall site's future? Look to Southwyck

I understand the eagerness of Toledo officials to tear down the old North Towne Square mall and create an economic development zone ("City Council OK's razing of North Towne mall; In 7-5 vote, $750,000 to go to demolition," Dec. 14).

However, I drove by the old Southwyck Mall site recently. Some of the finest weeds I've ever seen are growing through the cracks in the pavement there.

Ed Marentette
Maumee

 

Cooper workers need public's help

The only way locked-out Cooper Tire & Rubber Co. employees can win is with the help of the American public ("Cooper Tire workers eligible for jobless aid," Dec. 22).

Union and nonunion workers have to stick together and stop buying Cooper tires and any generic brand the company makes.

We workers have to realize that if Cooper is allowed to win, all other companies will be able to come after our wages and benefits.

Solidarity works. People should stick together and send a message.

Ed Gust
Whitehouse