Here's a comment from long time poster Peter answering the question of who or what is Morrisville Tomorrow.
It's nice to see someone on the scene in the community with some progressive ideas. OK, what I meant was any ideas at all. The school board is mired is doing too much haphazardly and ineffectively with too little and the borough council is just not doing much at all.
Yes, being a [insert public office holder title] is hard and demanding. But whirling feverishly and accomplishing nothing is just like a Canadian police chase.
Let's hear some real discussion that can improve Morrisville instead of what's really happening: Zero discussion and outright evasion.
Face it people: We got exactly what we voted for.
Maybe we can do better?
So, who/what is Morrisville Tomorrow?
Well, like the ad says, we are a non-partisan group that is interested in getting more people informed about the goings on of our town. We recognize that we are all busy and that people may be more inclined to get involved if someone helped them stay informed. None of us can attend every meeting, but we can as a group.
The sentiment of the billboard is sincere. We just want to show our appreciation for the efforts of those that are working hard to make our schools great, and recognize the improvements that are being made.
We encourage a progressive can-do attitude and support attempts to improve our town through business development. We love the rich history of the town but realize that history alone will not sustain us. And not only do we need to attract businesses to our town, we need to attract the right types of businesses.
What Morrisville Tomorrow is not: we are NOT a charitable organization. We have NOT incorporated, nor do we plan to. We are NOT about reliving the past and we are NOT about a new school building.
Want to know more? Contact Morrisville Tomorrow at:
Morrisville Tomorrow
P.O. Box 1222
Morrisville, PA 19067
morrisvilletomorrow@googlegroups.com
Wednesday, November 26, 2008
Where's Chicken Little When You Need Him?
From Forbes Magazine.
Pa. teacher, government pension funds post losses
By MARK SCOLFORO , 11.25.08, 05:00 PM EST
Pennsylvania's massive state government and teacher pension funds reported double-digit declines Tuesday, losses that reflect returns through September but not the market's continued fall since then.
And officials with both systems warned that year-end totals could be even worse.
From July 1 through Sept. 30, the two funds fell by more than $12 billion, or nearly half the size of the current state budget.
The State Employees' Retirement System said its investments fell about 14.4 percent from January through September, while the larger Public School Employees' Retirement System's investments dropped 16.7 percent for the one-year period ending Sept. 30.
The government workers' pension fund shed $4.3 billion dollars from July 1 though Sept. 30, ending the period with a value of $29.3 billion. The teacher fund, the nation's 14th largest public defined-benefit pension fund, lost $8 billion over the same three-month period to a value of $54.7 billion.
The stock market has experienced steep declines in October and November, and the two pension funds warned that their year-end accounting may end up looking worse.
In a statement, the state employees' pension fund said its investment performance in 2008 closely mirrored that of other large public pension funds in a prominent national comparison service.
Over the past decade, the State Employees' Retirement System has produced 8 percent a year on its investments, compared with a median of 5.6 percent for the large pension funds measured by the Wilshire Trust Universe Comparison Service.
For 2007, the system earned 17.2 percent, a $5 billion windfall that was among the best in the nation. By comparison, the S&P 500 grew by 5.49 percent in 2007.
The investment returns are bad news for state government retirees who have been pressuring the Legislature for a cost-of-living increase. Such increases are not automatic.
But state tax revenues for the current year are running hundreds of millions of dollars below expectations, and the decline in pension fund investments raises the likelihood taxpayers will have to pump in billions more to balance the retirement funds even without a cost of living adjustment.
Pa. teacher, government pension funds post losses
By MARK SCOLFORO , 11.25.08, 05:00 PM EST
Pennsylvania's massive state government and teacher pension funds reported double-digit declines Tuesday, losses that reflect returns through September but not the market's continued fall since then.
And officials with both systems warned that year-end totals could be even worse.
From July 1 through Sept. 30, the two funds fell by more than $12 billion, or nearly half the size of the current state budget.
The State Employees' Retirement System said its investments fell about 14.4 percent from January through September, while the larger Public School Employees' Retirement System's investments dropped 16.7 percent for the one-year period ending Sept. 30.
The government workers' pension fund shed $4.3 billion dollars from July 1 though Sept. 30, ending the period with a value of $29.3 billion. The teacher fund, the nation's 14th largest public defined-benefit pension fund, lost $8 billion over the same three-month period to a value of $54.7 billion.
The stock market has experienced steep declines in October and November, and the two pension funds warned that their year-end accounting may end up looking worse.
In a statement, the state employees' pension fund said its investment performance in 2008 closely mirrored that of other large public pension funds in a prominent national comparison service.
Over the past decade, the State Employees' Retirement System has produced 8 percent a year on its investments, compared with a median of 5.6 percent for the large pension funds measured by the Wilshire Trust Universe Comparison Service.
For 2007, the system earned 17.2 percent, a $5 billion windfall that was among the best in the nation. By comparison, the S&P 500 grew by 5.49 percent in 2007.
The investment returns are bad news for state government retirees who have been pressuring the Legislature for a cost-of-living increase. Such increases are not automatic.
But state tax revenues for the current year are running hundreds of millions of dollars below expectations, and the decline in pension fund investments raises the likelihood taxpayers will have to pump in billions more to balance the retirement funds even without a cost of living adjustment.
Bridge Renovation Trifecta in Play
The BCCT tells us this morning that the Calhoun Street Bridge is next on the list of DRJTBC structures to be rehabilitated.
Structures need to be maintained (note to school board) and plans need to be made (also a note to the school board) but it's not going to be easy traffic-wise with both the Superhighway and Calhoun bridges undergoing some sort of work.
Calhoun Street Bridge slated for rehabilitation
The 124-year-old span is the oldest of the commission’s 20 Delaware River bridges.
By GEORGE MATTAR
The Delaware River Joint Toll Bridge Commission awarded a contract Monday to start the rehabilitation process for the 124-year-old Calhoun Street Bridge, which carries about 18,500 vehicles daily.
At its regular monthly meeting, the board approved a contract not to exceed $666,000 for TransSystems Corp. of Langhorne to begin engineering studies on the bridge. The engineering contract is for preliminary, final and post design services.
The rehabilitation includes replacement of the floors, repairs of the iron truss, painting, improvements to the bridge rail and sidewalk safety features and roadway repairs.
Construction is expected to being late next year and be completed in late 2010, said commission spokesman Joe Donnelly. The study will determine the cost of the project.
“The Calhoun Street Bridge is the oldest bridge in our jurisdiction,” said Frank G. McCartney, the commission’s executive director. “At 124 years old, the bridge is constructed of wrought iron, posing unique challenges for commission personnel and our consultants to overcome in rehabilitating the structure.”
Donnelly said McCartney was referring to the iron structure, as few, if any bridges are constructed of iron today. Even back in the 1800s, Donnelly said many bridges were built with steel.
The bridge is 1,274 feet long. A timber plank pedestrian sidewalk is supported by the upriver truss on steel cantilever brackets, Donnelly said. The bridge has a three ton limit and a 15 mph speed limit.
In 1985, stiff opposition from Morrisville residents prevented the commission from replacing the span with a new bridge. Likewise, a plan by the commission to convert the Calhoun Street bridge into a pedestrian route in return for a four-lane bridge being built next to it was turned back in 1992.
Structures need to be maintained (note to school board) and plans need to be made (also a note to the school board) but it's not going to be easy traffic-wise with both the Superhighway and Calhoun bridges undergoing some sort of work.
Calhoun Street Bridge slated for rehabilitation
The 124-year-old span is the oldest of the commission’s 20 Delaware River bridges.
By GEORGE MATTAR
The Delaware River Joint Toll Bridge Commission awarded a contract Monday to start the rehabilitation process for the 124-year-old Calhoun Street Bridge, which carries about 18,500 vehicles daily.
At its regular monthly meeting, the board approved a contract not to exceed $666,000 for TransSystems Corp. of Langhorne to begin engineering studies on the bridge. The engineering contract is for preliminary, final and post design services.
The rehabilitation includes replacement of the floors, repairs of the iron truss, painting, improvements to the bridge rail and sidewalk safety features and roadway repairs.
Construction is expected to being late next year and be completed in late 2010, said commission spokesman Joe Donnelly. The study will determine the cost of the project.
“The Calhoun Street Bridge is the oldest bridge in our jurisdiction,” said Frank G. McCartney, the commission’s executive director. “At 124 years old, the bridge is constructed of wrought iron, posing unique challenges for commission personnel and our consultants to overcome in rehabilitating the structure.”
Donnelly said McCartney was referring to the iron structure, as few, if any bridges are constructed of iron today. Even back in the 1800s, Donnelly said many bridges were built with steel.
The bridge is 1,274 feet long. A timber plank pedestrian sidewalk is supported by the upriver truss on steel cantilever brackets, Donnelly said. The bridge has a three ton limit and a 15 mph speed limit.
In 1985, stiff opposition from Morrisville residents prevented the commission from replacing the span with a new bridge. Likewise, a plan by the commission to convert the Calhoun Street bridge into a pedestrian route in return for a four-lane bridge being built next to it was turned back in 1992.
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