November 13, 2007

Bet is lost

Jahn and Tim, it looks like I owe you $20. City Manager just said he does not see the negotiations being done by the end of the year and that there will be another extension on December 31st. Not more takers on my bet allowed.

The City Manager, however, said that the current negotiations will still be towards the operating deficit being covered 100% retro-active to July1st, 2007. He also indicated that the long-term deal would transition ownership to MassPort, so it appears to be a lease to own agreement, more then a lease, as milestones are achieved.

  • Debt service would still be ours, until ownership is transferred.

9 comments:

Anonymous said...

This is a bad deal for Worc. They'll lease till debt is paid off.......15-20 yrs down the road?.........and if it is successful 20 yrs hence....then Massport will buy it........prob. with all lease payments apllied to the purchase price................kind a like rent to own....only the landlord here gets totally screwed.

If it's still a rathole in 20 yrs ......Massport just walks.


What's going to happen to all the City Employees up there? Will they be Massported like Mr Waldron.......layoff..........or sent over to DPW? Massport got a much higher payscale (based on Boston area wages) & even better pensions bennies than Worc.

Analogy:
Nuttin like living in Lee, Mass., working for the Masspike, and making the same per hour as a toll collector who's living inside 128 belt where the cost of living is 2x it is in Lee.

Anonymous said...

Oh "Lee"-ve them alone!!!!!

;-)


Harry Tembenis
Worcester, MA

Anonymous said...

I cannot rationalize how the leaders at both the local and state level are allowing opprotunity pass over Worcester...the area/city is at a crossroads as I have said before. If we fail to take steps to improve and prosper...just wait and see the ugly results. My wife and I are an example of young people flocking to this area from the 128 belt. None of us will want to stick around if the area becomes depressed and broken down. We are sitting on a real gem...tremendous possibilities for growth and creation of new jobs, business, and even ...a TOURIST destination. So much to do/offer in this area of the state yet no one knows about it. They need a reason to visit and see all we have to offer. WE NEED ACTION NOW! BUT HOW DO WE MAKE THEM LISTEN? Its a sad commentary on our elected leaders.

Very Frustrated!

Brett

Anonymous said...

Brett:

We feel your pain! All is not lost , however. Keep an eye on a couple of things:

1) If and when Worcester will EVER get the hourly train service from 05:00am-Midnight.

2) The possible casino development in Marlboro and/or Palmer.

The hourly trains would allow people in the 128 belt to move out this way and purchase 'affordable homes'. If and when they DO move out this way they will want the feel of Boston such as nightlife, clubs, cafes, fancy restaurants, art galleries, etc, etc, etc to come with them and you will see these businesses start to spring up.

The casino(es) are a whole other segment. We blew a great opportunity to sell the airport outright to either of the groups. Just imagine what a possible 8 figure windfall to the city's coffers could have done! In any event, if those developments go(es) through and they would both be on Worcester's doorstep, you would have the high paying construction/trades jobs benefit first, then eventually the service jobs would fill the void; trust me tens of thousands of jobs would be created and don't rule out the location of either of those locales. You can get to ANY point in New England from those locations selected. Interstates 90, 495, 290 ; routes 9, 20 , etc, etc, etc. This brings in the locals (within a 2 hour drive). The X factor is, geographically for all incoming trans-Atlantic flights ... the first 'destination casinos' in North America would be just minutes away from Boston, New York, and other international airports. With the strength of the Euro vs the dollar, MAjor economic impact could be had.

That's just me looking at the big picture.

The immediate picture is CitySquare. I for one am giving the developer a break but I do agree a short leash is in order. Why? Between the mortgage mess, depressed dollar and tighter lending standards, land development isn't exactly high up on the list, especially when needing to borrow such vast somes of $$$$$. Deliverables should be met. Once deadlines start getting missed, then it is time to worry and possible cut your losses and move on.

Just my 2 cents...


Harry Tembenis
Worcester, MA

Anonymous said...

Boston To Host Major Airport Meeting
By Bob Weiss

BUENOS AIRES – Boston will be the capital of the airport world next fall when Airports Council International (ACI) holds its combined World/North America meeting in the city hosted by Logan International Airport.

Massport CEO Tom Kinton came to this year’s conference in Buenos Aires to invite the delegates to Boston in 2008.

Next year’s conference and exhibition should be attended by well over 2,000 people and will be held at the downtown Hynes Convention Center from September 21 through 24. The Sheraton Boston Hotel will be the headquarters hotel.

The central theme of this year’s conference was capacity restraints on the growth of airports worldwide. Speakers, representing many parts of the aviation industry, called on airports, airlines and government agencies to work together to improve performance. Another important matter discussed was access to capital to improve airports.

Airports around the globe are expected to carry 2.7-billion passengers next year and be responsible for some five million jobs. ACI is divided into five regions: North America, Latin America, Europe, Africa and Asia with offices in those areas. The North American office is located in Washington, D.C. The airport association represents 1,650 airports in 178 countries that carry 95 percent of airline passengers.

From the presentations, there is little doubt that low-cost airlines will continue to grow in Latin American countries and challenge the established carriers. Last year. 75 low-cost airlines carried about 700 million passengers around the world.

For business travelers, the biggest change will take place on March 28. That is when Heathrow Airport will open its new Terminal 5. Some 30 million British Airways passengers will be able to use the new terminal. In the next six months, 54 airlines will change terminals at the London airport.

The terminal changes coincide with the new Open Skies agreement between the U.S. and The European Union countries that will lead to more flights across the Atlantic next year.

Star Alliance CEO Jaan Albrecht said that his group of airlines would continue to grow and prosper. He pointed to the grouping of alliance airlines in the same terminals as a major cost-saving and time-saving factor of business travel.

Security continues to be a major stumbling block to travel around the world. One system of regulations is needed, especially for international passengers buying duty-free items that are connecting to another flight before reaching their final destination.

For example, an international passenger flying from Buenos Aires to Toronto, via Miami, buys a Duty Free bottle of alcohol on the first leg of the trip. Once that passenger clears customs and immigration in Miami, his luggage is forwarded to the Toronto flight, but he and his bottle of alcohol are outside of the secure area. While clearing security again for his Toronto flight, that bottle is confiscated, due to rules restricting bottles of liquids from secure areas.

Boston will have a hard time matching Argentina in promoting the city and region.

The opening event took place at a race track and included a polo match, reception, dinner, the country dancing of Argentina and a fireworks display. Boston’s closing event will take place at The Kennedy Library. The site of an opening event has not been determined.

“The ACI meeting is really an opportunity for Boston to showcase the city, our airport professionals and the accessibility of Logan Airport to Boston,” said Tom Kinton at the Massport booth at the World ACI meeting.

Kinton was accompanied by Massport Manager Aviation Marketing Mike Cataldo, who barely had time to return to Boston, repack and leave for World Travel Market in London to help represent Massachusetts and New England at that tourism event.

The incoming chairman of Airports Council International is James C. Cheery, president and CEO of the Montreal airports.

Anonymous said...

I agree, right now it is looking bleak for City Sq.

Berkley was strong armed by Murray, a strong Labor candidate (b/c his dad was mailman)and Berkley was given a free parking garage in exchange for making City Sq a union job.

Berkley is now in a holding pattern and once some commercial teants are lined up they will approach city hall and say Mat'l costs have gone through the roof......we now have to ask you ( the city) to allow City Sq to go non union ....or we'll be back to a holding patttern and could very well lose the tenants we do have signed up.

Market rate housing is rarely if ever built by a private dev'er with union labor. Low income housing built by the gov't and its operatives like community dev'ment corps often have prevailng wage laws. Ever see or hear of a new subdivision that's Union built.

Anonymous said...

Let's picket the Boston convention !!!!! Get those signs ready.... "Air service for ORH, or else !!!"

Harry Tembenis
Worcester, MA

Anonymous said...

Is there a way to get major news outlets out of Boston to fire up some discussion on Worcester Airport and its ability to help the crunch at Logan?

Brett

Anonymous said...

Brett:

Wait till next Januarys 18" storm. Boston news outlets will be in Worc, high atop Bell Hill broadcasting the latest breaking so called NEWS....