This blog post will expand as time allows, but the questions begged in this news (P-G, Rich Lord) should be immediately apparent.
Maybe it begs one main question — what are the
five four board members of the Authority purported to be experts in, if they can’t make decisions on anything?
Morgan Stanley has been paid $3 million out of a prospective deal to manage its brokering, and Scott Balice was paid just $30,000 to provide “a second set of eyes.” Now $600,000 out of the city’s operating budget is being paid to “a consultant” to analyze the final decision, and upload its findings to a closed network — for which we are paying an additional $25,000 to a company called Transperfect.*
SLOGAN SUGGESTION: “It’s better than transparent — It’s Transperfect”.
From the home page:
Virtual Data Rooms (VDRs) can shorten the due diligence process by over a month. TransPerfect Deal Interactive offers the fastest VDR solution in the industry, allowing you to host and close transactions in record time.
I’m picturing the Director of Finance, the
Director of Operations *-UPDATE: the Chairman or Director of the Parking Authority, and the Manger of Policy all bursting into Council Chambers one day, screaming “Sell! Sell!”