Tuesday, August 25, 2015
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By George Donnelly (@geodonnelly) with Keith Regan
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Today: Governor with College Bound kids; Bernie-mania continues
Gov. Baker delivers remarks at a College Bound Dorchester event to "recognize the accomplishments of more than 50 students who are enrolled in college." Secretary Ash also attends. The event takes place in the new Bolling Building housing Boston Public Schools office in Dudley Square, 2300 Washington Street, Roxbury, 6pm... Grassroots political group Boston For Bernie host their second fundraising concert in support of U.S. Sen. Bernie Sanders' (I-Vt.) Democratic presidential campaign. Boston-based music acts Paul McCaffrey and As the Sparrow are slated to perform. Local political organizers, including speakers from Global Zero, will take the stage to talk about issues and ideas central to Sanders' campaign platform. Boston For Bernie is requesting $8 to $25 donations at the door and says all proceeds will be donated to the Sanders campaign. Great Scott, 1222 Commonwealth Ave., Allston, 7:30pm.
Green Line: Uncounted costs beyond the new estimate -- all for an 1890s transportation system
So, the Green Line extension to Medford is looking like a proverbial money pit as the media learned yesterday it may run $1 billion more than the $2 billion price tag. Secretary of Transportation Stephanie Pollack is talking about the possibility of canceling the project, which is fascinating given that it was the organization where she used to work, the Conservation Law Foundation, that sued to push the project forward -- it was mandated by the courts as traffic mitigation for the Big Dig. A few additional facts about the project that haven't been covered by the media:
* The Green Line Extension's $2 billion price wasn't actually the original price. It was recently $1.4 billion, rising to $2 billion only a year ago before becoming, as of yesterday, potentially $3 billion. Any takers on a bet if this project gets Green (Line) lighted, it will surpass $3 billion?
* While the media has noted that the $3 billion figure doesn't include interest, it also doesn't include operation and maintenance costs. More people, more rolling stock, more ongoing maintenance will be required. It would be only fair to get a number on those costs. The T can't afford to maintain what it already has -- a $3 billion backlog in deferred maintenance. (For a great take on the Green Line Extension, and the problem of "government by mandate," see Charlie Chieppo's column in Governing from last year: http://bit.ly/1NQNgTH)
Congressman Seth Moulton had this remarkably candid thing to say about the Green Line Extension in June at a MASSterList event: "There's a big difference in investing in a transportation system like the Washington Metro that goes 50 miles per hour between stations and extending the Green Line, which goes, what 15 (mph)? You can run faster than the Green Line. That's not a modern transportation system. That's a 1890s transportation system. And if we want to be competitive in the global context, we've got to do better."
So Massachusetts is faced with another infrastructure dilemma: which is the greater potential tragedy -- that this thing get built or not built?
The stock market -- don't panic. I said don't panic!
Wise investors know to steadfastly wait out rapid stock market declines -- the fundamentals come back into play as fear gradually is replaced by greed. That is, unless it's 2008, which, some of you may remember, was the onset of a market tumble that eventually brought the Dow into the 6000 range. It was hard to brave back then. The Boston Business Journal has been meticulously tracking the local impact of this market correction, yesterday providing a chart with the one- and five-day dollar drop in each Massachusetts public company.http://bit.ly/1Kh4yuk
And the BBJ has a story assuring investors this is not 2008 reincarnate. Stock market futures were up this morning when we last checked. http://bit.ly/1EfFJO4
Boston 2024 -- it's already a course at Simmons
Not only is Boston 2024 history, it's literally being taught as history while the body is warm. Boston Magazine's Kyle Clauss reports Simmons College is offering a course called "Boston Olympics 2024" taught by Dr. Michelle Kweder, a critical management scholar. "My hope is that at the end, they have a framework to understand/evaluate the planning that will occur while they are in Boston and if they stay," Kweder told Clauss. One could also imagine Boston 2024 being taught in a communications course as a cautionary tale.http://bit.ly/1JRIx6E
Dear City Council: Don't embarrass yourself
Globe editorial says the best way to stop the City Council from its ongoing efforts to give itself a raise -- beyond the already recommended $9,500 increase -- is to have more candidates run for office, including against the leader of the effort, Bill Linehan. "It's a cringeworthy crusade, given how much councilors already make. But why should Linehan care? He faces no opponent this fall." http://bit.ly/1PwcozM
Transportation chief urges casino OK
Transportation Secretary Stephanie Pollack has signed off on the traffic mitigation measures Steve Wynn has put forward to his enable his Everett casino to be approved by environmental regulators, an opinion that contradicts the stance of Attorney General Maura Healey, the Herald reports. While Pollack encouraged Massachusetts Energy and Environmental Affairs Secretary Matthew Beaton to grant Wynn his permit, neighboring cities are among those calling for its denial.
Stephanie Pollack's first pitch
Perhaps this is our special Stephanie Pollack edition, as we this already is her third MASSterList mention. We have spies everywhere, including recording for posterity her first pitch at a recent Red Sox game.
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