Should've Known Better or Financial Gaming?

As reported in the Hamilton Spectator, "Hamilton is portraying itself as a naive country youth lost in the big city in a new lawsuit against a German bank and Canada's largest bond rating service over a $10-million investment gone bad.

In a statement of claim, the city alleges its unsophisticated investment advisers were misled about the worth and nature of a fund into which they poured taxpayer money.

Instead of a safe, secure investment with a bit better interest rate than a government bond, they became "victims of (a) ... well-choreographed scheme to deceive it out of its investment funds."

The defendants, the city claims, "are sophisticated financial institutions that perpetuated a scheme through careful structuring and planning to create, promote and distribute an unstable and volatile product" consisting of a "complex, insecure investment with no real capital structure" supporting it."

See full story here

So, were we victimized or should we have known better?

Thanks toWRCU2 for the idea for this topic.

5 for Fighting

On the heals on the State of the City's address, in which Mayor Eisenberger made it a point to talk about how councillors are working together, it seems like the Mayor and Councillor Whitehead were unable to contain themselves as to who should be the front man (spokesperson) for the city's NHL pursuits.

Andrew Dreschel wrote an opinion piece on this in today's Spec entitled Feuds and Cross-Checking at City Hall. When it came time for councillors to talk about events in their wards, the Mayor took the unusual step of speaking first, choosing to address the Balsillie bid and how Hamilton is now better off in terms of its chances of landing a NHL team in the future, because of it. This, apparently set Clr. Whitehead off, drawing objections to the Mayor, seemingly stealing his thunder.

Andrew described the back and forth as "like a bickering old married couple".

What's the Big Deal?

Citizens at City Hall (C.A.T.C.H.) reported that Councillor Brad Clark is turning to the freedom of information process to provide the public with audits of the city’s lease with the private company running the airport. When councillors received a copy of the 2007 review, Clark persuaded his colleagues on the economic development and planning committee that releasing it would help respond to public criticism that the rental payments were too low.

Councillors agreed to direct city legal staff to meet with Tradeport “and advise them that we are willing to sever out any portions that would be third party or proprietary interest and therefore would be exempted from the release to the public.”

In March of this year, the head of economic development, Neil Everson, reported that “Tradeport’s legal counsel is still in deliberations on this” and that a resolution could be expected by July. A new deadline for the staff report was set for September 22, but last week that was pushed off until December 1.
“I’m growing almost despondent on this particular file,” responded Clark to the extension. “I need to understand why it’s taking so long to get something that’s really in my mind not that difficult an issue.”

The general manager of economic development and planning said he didn’t have an answer.

See the full story here

It sounds to me as though Clr Clark is making a reasonable request, that is in the public's interest, but is having to unduly go to extremes to have that request met. What do you think?

Hail to the Chief

There are many things about Chief Brian Mullan that are impressive. Be it his 35 years of distinguished service, his innovative approach to policing or his resolve in tackling the tough issues that cities of Hamilton's size face, it is clear that we will be losing one heck of a public servant when he retires at the end of this year. Although in comparison to his other accomplishments this example pales , one of the things that impressed me about Chief Mullan was his routine appearances on Cable 14, fielding questions from Hamiltonians. It may appear less significant than his many other achievments, but, for me, that was a shining example of  good leadership and engagement.

The Hamiltonian is honoured to have Chief Brian Mullan on 10 Tough Questions.

1. As outgoing Chief of Police, what advice might you have for the new Chief?

Stay focused on our mission, vision and values. Make sure you understand our community needs. Our Members are our greatest resource and we have to make sure we give them the necessary tools to serve our community well.

2. What would you say was your greatest accomplishment during your tenure as Chief of Police?

I have had many accomplishments however if I have to pick one I'd have to say I came into this position promising that I would be the most accessible Chief Hamilton has ever had. When I say this I mean accessible to our members and all segments in our community. I have worked hard on this and I believe I have accomplished what I've promised.

3. Crime rates are often compared to other cities and often times, such a comparison is useful in terms of putting crime rates into perspective. Parking that for a moment however, how would you describe how safe the streets of Hamilton are (for example, the downtown core), to a loved one? What advice might you give him or her, in relationship to crime and the safety of our streets, particularly if that person was to frequent the downtown core at night?

Hamilton has received a bad and inaccurate reputation in regards to crime in our city. We have lower crime rates than any city in Canada with a population over 500,000.

I have no hesitation going anywhere in Hamilton and my loved ones don't either. My advice to everyone is simple, go with your instincts. If you don't feel comfortable in any situation back away from it. Use common sense. Know your surroundings and who you are dealing with.

4. Reflecting upon your service as Chief of police, if you had to identify one regret , what might that be?

I have tried very hard to be fair and to do my best in every situation I have faced. I have used a management style that is inclusive, calling on advise from experts and my executive team when dealing with difficult situations.

I wish we could have done more, as a community, to help those who are facing addictions. Addictions is a major factor in crime in Hamilton. It's one of the root causes of crime we, as a police service, have to deal with day in and day out.

5. In the event of a terrorist attack or some other catastrophic event, how prepared would you say that the Police service is as first responders?

We, as a community, are well prepared to address any emergency situation. We are well trained, well equipped and all of our emergency response workers are committed to do the best they can in all situations.

6. What was the most challenging part of your role and how did you meet that challenge?

The Chief has very little downtime. You have to commit to working in excess of 60 hours most weeks of the year. I believe I met that obligation/challenge well. I went to as many events and functions I possibly could have.

7. What factors do you feel led the HWPS to be one of Canada’s top fifty employers and do you see this trend continuing?

I think our internal systems support our Members well. We are an open, value driven organization that works hard to help our members reach their potential and to attain their dreams.

8. If you could have the attention of all Hamiltonians for 5 minutes, what advice would you give them with respect to keeping their communities safe?

Don't sit back and let crime happen around you. Be vocal and hold others accountable when they do things that are wrong. Help your neighbours and commit to work in partnership with them and the police to make your neighbourhood safe.

9. Drugs and in particular, the use of "crack" cocaine, has resulted in some homes or neighbourghoods in Hamilton being known as "crack houses" or places to buy drugs. Why is it so difficult solving this problem, what gains have we made, and what else needs to be done- given that the problem is still visible.

Someone can turn a home into a crackhouse in less that 48 hours. Once the crackhouse comes to the attention of police we have to follow the rules of the law to remedy the situation. It takes several weeks for us to accumulate the necessary level of evidence to do anything. We want to make sure that when we go into a crackhouse we close it down and it doesn't re-open a day later.

One thing I emphasize regularly is the need to let the police know when you think there is a crackhouse in your neighbourhood. People wait to long and as time goes on the problem becomes more difficult to solve.

10. With the economic situation has the HWRS changed any strategies to be proactive against the possibility of an increase the crime?

We have changed in several ways to address the changes we have and will face in the future. He have adopted an operational model that's called the Neighbourhood Safety Project. This project has allowed our officers to address neighbourhood issues head on and more quickly.

In addition to the above, we proactive intelligence led policing. We obtain intelligence to identify individuals who are responsible for large volumes of crime. We then develop enforcement strategies against those suspects. It is one of the factors that has led us to have almost half the number of break-ins and auto thefts we had in 1998.

Special thanks to Chief Mullan for his leadership and service to Hamilton. Also, special recognition to the fine men and women who serve in the Hamilton Police Service.  Finally, special thanks to my good friend RB, who helped me formulate these questions.

The Hamiltonian Poll Featured on Talk Radio Stations

The good people at 900 CHML and 820 Talk both featured the poll results on air. Bill Kelly featured it this morning and invited listener feedback and Mike Nabuurs featured it as well.  I did not catch the 820 piece. The CHML piece seemed to suggest that the poll results were consistent with the sentiments out there. I think it behooves the Mayor and council to not take a defensive posture, but to see this as a need for positive change. I'm a fair person and, as mentioned, anyone on council is invited to state their views on this blog; defensive or otherwise.

So far, 81% of people polled on The Hamiltonian believe that it is appropriate for our local councillors to engage with citizens on blogs.

Thanks to the good people at 900 CHML and 820 Talk.!

10,000

Let's reach our goal of getting 10,000 hits on www.thehamiltonian.net  Empower Hamiltonians! Invite your friends and networks to visit this site!  Thank-you for your support and interest

Cal DiFalco, Publisher

Open Letter to Mayor Eisenberger and Hamilton City Council

The following email was sent today to Mayor Eisenberger and all members of Hamilton City Council.

Dear Mayor Eisenberger and members of Hamilton City Council:

Recently The Hamiltonian Ezine/blog conducted an online poll gauging the effectiveness of this council and the Mayor. The axioms of query were as follows: Approval rating/effectiveness of council as a whole, and of the Mayor, stewardship of public funds and resources, value for money for tax dollars and culture at city hall.

The polling was not scientific and cannot be claimed as being statistically reliable. At the same time, the results are from real Hamiltonians and these results, appear to be consistent with comments found on other blogs and media sources. I would suggest that the results thus carry some meaning and resonance and ought to be taken seriously.

The results are as follows:

Mayor's Approval Rating
49% of respondents believe that Mayor Eisenberger is doing poorly or failing.
28% of respondents believe that he is doing a fair job
17% believe he is going a good job
3% believe he is doing an excellent job
Conclusion: Performance is not stellar. Definite need for improvement

Council (as a whole's) Approval rating
77% of respondents believe that council is not very effective or failing.
5% of respondents believe that council is doing a "middle of the road" job
0% believe council is doing an effective job
3 % believe council is doing an excellent job
Conclusion: Performance is unacceptable

Stewardship
88% of respondents believe that council is a poor steward or failing in its role
8% of respondents believe that council is a fair job as stewards
0% believe council is a good steward
4 % believe council is doing an excellent job as stewards
Conclusion: Performance is unacceptable

Value for Money
75% of respondents believe that they are getting poor or no value for their tax dollars
12% of respondents believe that they are getting fair value for their tax dollars
8% of respondents believe that they are getting good value for their tax dollars
4% of respondents believe that they are getting excellent value for their tax dollars
Conclusion: Performance is unacceptable

Culture
84% gave council a poor or failing grade
4% gave council a fair grade
2% gave council a good grade
4% gave council an excellent grade
Conclusion: Performance is unacceptable

In the spirit of citizen engagement and responsible government, I invite each one of you to visit www.thehamiltonian.net and comment about the poll, the issues and thoughts you may have on how to improve our situation.

Your words and input will demonstrate your degree of engagement and commitment to Hamiltonians. Your silence or declining to engage, will speak just as loudly.

In the spirit of constructive discussion, please share you thoughts on this post. Hamiltonians are expecting you.

Sincerely,

Cal DiFalco
Publisher, The Hamiltonian
http://www.thehamiltonian.net/

Special Note: Sincere apologies who those who may have received multiple emails from the Hamiltonian. It was a computer glitch and I apologize for any inconvenience this may have caused you.

Finally...don't forget to blast www.thehamiltonian.net to your friends and network.

Recognizing Michelle

Michelle Hruschka of the Hamilton Campaign for Adequate Welfare and Disability Benefits, made an impassioned plea to ask for food stamps or debit cards to be provided to low income earners, so that they can shop with dignity, where they please. This was in the context of discussing rates for social assistance payments and provision of food. You will know that Michelle has been a staunch advocate for those disadvabtaged and part time workers. The full story is here

Kudos to you Michelle!

10 Tough Questions with Jeff Bonner

Jeff Bonner is an engaged Hamiltonian and also, a realtor. Here is Jeff on 10 Tough Questions. 


1. How has the recent plunge in the economy specifically affected the Hamilton Real Estate market?

From where I stand, the economic turbulence didn’t really affect the Hamilton real estate market that much. The market saw some areas of Hamilton go into a decline in sales and price, such as Hamilton Mountain and Ancaster. Hamilton Mountain prices were actually on a downward trend for a while, looking at one year of average price data, but that has reversed itself and prices are going positive again. However, the drop in number of sales was much more significant than any drop in prices. Real estate in general didn’t sell very quickly, and it was worse for higher-priced listings. A clear example is Flamborough seeing an average time-on-market over 100 days at one point.

On the other hand, some local districts sailed through as if nothing were wrong. Even in the worst part of the market downturn, there were parts of Hamilton where real estate was selling in an average of 25 days. I think this is partly due to our being located close to Toronto. We’re just close enough for Toronto investors to look at, but far enough away that our prices are attractive. And the fact that we don’t have the extra municipal land transfer tax (MLTT) was beneficial. The extra MLTT really bites into the return-on-investment for any property up there. I noticed a large influx of investors from the GTA looking at investment properties in the lower city and east end, and this probably contributed a lot to balancing out our market.

2. What advice might you have for Hamiltonians who are looking to buy or sell real estate in the next 6 months?

For buyers, I’d say to go to your bank or a good mortgage broker and get a mortgage pre-approved for as long as you can. A pre-approval will hold the interest rate until the pre-approval expires (usually 90 days). While the Bank of Canada says it’s holding its rates steady for now, we never know what mortgage rates will do. They’re at their all-time low right now, so it’s a good idea to lock it in for as long as you can with a pre-approval. Besides this benefit, it’s the logical first-step anyways, because then you know your maximum purchase price and that there are no surprises on your credit history. Your real estate agent will also feel better knowing you can actually buy. I tend not to work with buyers who put off getting a pre-approval, and a lot of agents feel the same way.

For sellers, you need to get educated on what the market is doing in your specific area. Find out what the average price is like, both listing and actual sale. Here’s a tip, you’ll need a real estate agent for the actual sale prices, because the public doesn’t have easy access to historical sale data. Attend open houses in your area to get a feel for how those properties stack up against yours. You’ll be competing against properties like that when you put your house up for sale. And finally, be realistic. We all want to put more money in our pockets, but being unrealistic with the list price can just drag the process out, wasting time, advertising money, and opportunity.

I wrote a little article back in the midst of the “crisis” on the importance of realistic expectations, available at http://www.jeffsellshomes.ca/articles/realistic.html

3. What unique characteristics of Hamilton, as a city, make it difficult or easy to attract real estate buyers?

As mentioned above, we’re close to the GTA, but not really a part of it. We have the transit in place for people to commute to work in the GTA, and our housing prices are attractive enough to entice some of these people to buy their personal residence here. We are also still attractive to long-term investors looking for areas-in-transition, as well as cash-flow investors looking for a deal. The image still makes it difficult for many, though, and some are turned off by our high property taxes.

4. How would you describe Hamilton's image and how could we capitalize on it or improve upon it, depending on how you've assessed it?

I think we’re largely seen as Toronto’s dirty inept little brother, but I think the city is already doing a lot to correct that false image. The world just needs to see more of Hamilton than the view across the water from Burlington or Toronto. Many visitors are surprised at what a beautiful city it really is, once they get to see it. We just need to keep pushing to educate outsiders on what the city has to offer. We should also try to promote our history as a forward-thinking city and reclaim that heritage.

I think an effort that requires special mention and applause is Chris Ecklund and the fantastic job he is doing with his “City of Waterfalls” campaign.

5. Who do you consider to be the most effective Hamilton councillor and why have you chosen that person?

Hmmm, I didn’t think the words “effective” and “councillor” went together in Hamilton. The atmosphere and parochial culture of the council doesn't allow any individual councillor to be very effective in my eyes. That said, though, I think I’d choose Tom Jackson. His support of the city's economic growth and development at the harbour & airport is the kind of philosophy we need in the city.

6. Do you think amalgamation was a good thing for Hamilton, or was it a mistake? Why?

I think it is a good thing in the long run. It minimizes the size of government required and reduces costs to the taxpayers in that sense. In the short term, perhaps we’ve seen a lot of NIMBYism and parochial politicking, but they seem to be gradually getting over this.

Once we have a council that is looking at the larger picture and thinking in terms of the greater good, rather than localized interests and lobby groups, the benefits of amalgamation will start to become more clear. Then we’ll become the power house that we should rightfully be.

7. If you had to select one property in the downtown core that has the most potential, but is being under-utilized, what property would that be and why?

I know it sounds cliché, but probably the Lister. Besides the fact that it looks ugly in its present state and drags down the image of the city core, the lost revenue from taxes on successful businesses running in the location is staggering to think of. While it would be nice to see it redeveloped into a profitable commercial building, it would be better as a parking lot than as the derelict it has been.

8. Hamilton continues to have a problem with derelict properties and the phenomenon of "demolition by neglect". How do we arrest this continued erosion of properties?

Personally, I would suggest that we need to reclaim Hamilton’s historical forward-thinking philosophy. While old architecture has its value, it's unfortunate that we would sacrifice our city’s economic health to save it.

Properties like the Lister were once beautiful, yes, but now they have become blights in the downtown scene. By designating them ‘heritage’, we make it so much more difficult to use these properties in any practical way, and thus find ourselves wasting all kinds of time and money trying to work within the designation’s strict rules.

Hamilton was once a leading city in the country, both economically and socially. Hamilton can proudly make such claims as having the first stop light in Canada, the first Commonwealth Games, the first black MP, the first sanitary water fountains, the first telephone exchange in the British empire, and the list goes on.

We were leaders in the past, because we lived in the present and looked forward, planning for the future. Back in 1887, the city realized that the city hall needed to be replaced – no messing around “sprucing up a dead horse” like we do these days.

9. What's the greatest lesson you've learned in your line of work?

If you get stuck in your past, you’re useless to the present. If you live in your future, no one is taking care of business while you daydream. Learn from the past and plan for the future, but live in the present.

10. When selling Hamilton properties, what is the most common concern expressed by potential buyers, relative to our city, communities and neighbourhoods, rather than to the actual physical properties?

It’s probably just a sign of the times and a symptom of the general consumer malaise we’ve seen with the economic downturn, but recently most people are concerned about property values. They don’t want to put their money into a property and have it lose value. Largely, this is because of the impression people get from the news, and is not truly a significant concern when looking at historical data and long-term forecasts.

Second to that, and much more significant in my view, buyers very commonly express a concern about our high municipal tax rates in comparison to other cities.

Special thanks to Jeff for his interest in Hamilton. Visit Jeff Here

Comments are welcomed.

Note: Fixed numbering. Thanks for the catch.