Category Archives: Muni bonds

Michigan’s CAB-killer law

Posted on August 25, 2012 by hro50ta1

By Joel Thurtell On July 10, 1994, the Michigan Legislature approved Public Act 278, the law (PA278-1994-corrected0001) that banned Capital Appreciation Bonds. CABs have become controversial in California, where a prohibition on CABs is being debated. The relevant sections are: … Continue reading →

Posted in CAB scams, Muni bonds | Tagged , | Leave a comment

My 1993 CAB stories

Posted on August 24, 2012 by hro50ta1

By Joel Thurtell Readers have asked to see my 1993 Detroit Free Press articles about Capital Appreciation Bonds that killed CABs in Michigan. The Michigan Legislature banned CABs in 1994 and ordered that all municipal bonds be competitively bid. With … Continue reading →

Posted in CAB scams, Muni bonds | Tagged , , | Leave a comment

Credit

Posted on August 9, 2012 by hro50ta1

By Joel Thurtell I appreciate the article by Andrew Donohue in the Voice of San Diego acknowledging my work in uncovering and reporting about the Capital Appreciation Bond scandal in California. Donohue responded to my complaint that reporter Will Carless of the … Continue reading →

Posted in CAB scams, Joel's J School, Muni bonds | Tagged , | 1 Comment

Letter to Voice of San Diego

Posted on August 8, 2012 by hro50ta1

From: Joel Thurtell To: Scott Lewis, Andrew Donohue Gentlemen: Will Carless claims he broke the Poway school bond story. That is false. Will Carless knows that I broke the Poway story on my blog more than three months before his … Continue reading →

Posted in CAB scams, Muni bonds | Tagged , , | 4 Comments

CABs: What I get

Posted on May 27, 2012 by hro50ta1

By Joel Thurtell A few days ago, joelontheroad registered more than 5,500 hits in a week. Not Facebook, but for a guy without the resources of, say Huffington Post or The New York Times or even a small town weekly, … Continue reading →

Posted in Bloggery, CAB scams, future of newspapers, Joel's J School, Muni bonds | Tagged , , , , | 2 Comments

How CABs work

Posted on May 22, 2012 by hro50ta1

By Joel Thurtell Wanta parley three hundred bucks into five grand? Easy. Here’s how you could’ve done it last summer, had you known that the Poway Unified School District in San Diego was going to issue Capital Appreciation Bonds at … Continue reading →

Posted in CAB scams, Muni bonds | Tagged , , , | Leave a comment

Hey, California! Michigan school sued lawyers & won $15 million

Posted on May 19, 2012 by hro50ta1

By Joel Thurtell Think about this, Californians: In the early 1990s, a Michigan school district actually sued its attorneys in a CAB deal turned sour. Amazing! Pontiac schools won a $15-million-dollar settlement against their bond counsel, the prestigious firm of … Continue reading →

Posted in CAB scams, Muni bonds | Tagged , , , , , , , | Leave a comment

See no evil: CABS and media

Posted on May 16, 2012 by hro50ta1

By Joel Thurtell Thanks to Kevin Dayton of the Dayton Public Policy Institute for noticing my recent columns about the evils of Capital Appreciation Bonds. He covered the May 11, 2012 meeting of California’s League of Bond Oversight Committees annual … Continue reading →

Posted in CAB scams, Muni bonds | Tagged , , , , | Leave a comment

Scouting for graft: Look for Michigan in California

Posted on May 13, 2012 by hro50ta1

By Joel Thurtell If I were a district attorney or attorney general in California — someone with subpoena power — I’d be asking hard questions about the behavior of public school officials and the people who arrange loans, aka bonds, … Continue reading →

Posted in CAB scams, Muni bonds | Tagged , , , , | 1 Comment

CAB scam in Poway

Posted on May 12, 2012 by hro50ta1

Proposition C To provide safe and modern school facilities, improve student learning, and qualify for approximately $20 million in State matching money, shall School Facilities Improvement District No. 2007-1 of the Poway Unified School District issue $179 million in bonds … Continue reading →

Posted in CAB scams, Muni bonds | 2 Comments