Wednesday, April 28, 2010

Pontiac finds lost stock

Pontiac Emergency Financial Manager Fred Leeb on Wednesday announced that workers had discovered 43,000 shares of long-forgotten stock.

The city quickly sold it and Pontiac is suddenly $1.26 million richer than it was at the beginning of the week. The city is still in the red, but every lost million counts.

This is one of those amazing stories that gets people talking, and you can bet they are in the comments section at the bottom of the story.

You can join that conversation at

Here are some samples:

"Thank you Mr. Leeb and staff! This is just proof that all the house cleaning they are doing is totally worthwhile. Pontiac has suffered from incompetence for so long, this is a breath of fresh air! This is why you don't give jobs to people just because you know them, people need to be trained and qualified for government positions in order to protect our cities welfare."

"Do you think they will use any money to tear down any of the crack houses?"

"This is a wonderful thing. It was the right thing to have a Financial Manager come in and I have agreed with many decisions he has made. But I live here. I go to meetings. I volunteer in the community. What is most frustrating right now is that we have newly elected officials. The mayor is new. The city council is new. They are eager to work with the EFM but they have been kept in the dark. Communication should be flowing, even if it is one-sided, to transition control from the EFM to the officials when it is time. Otherwise, time will be wasted when he leaves and the new local government has to start where he left off. All they are asking for is for him to work with them and that is not unheard of when it comes to EFM's. It has been done by others,it is just not happening now."

"Something that really bothers me is how people comment on Pontiac and think they know everything that is going on just because of what they read in the paper. You don't know until you live here,and get involved."

"So do we have enough to buy the SilverDome back?"


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