Tag Archives: Capital appreciation bonds

Michigan CABs and the ‘Big Graphic’

Posted on August 27, 2012 by hro50ta1

MICHIGAN SCHOOLS LOAD THE FUTURE WITH DEBT By Joel Thurtell April 5, 1993 was doomsday for Capital Appreciation Bonds in Michigan. On that day, the Detroit Free Press exposed the horrendously bad deal almost 100 Michigan school districts had dished … Continue reading →

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Dayton & CABs

Posted on August 27, 2012 by hro50ta1

By Joel Thurtell Thanks to Kevin Dayton for his latest post on California CABs. What Michigan did by banning CABs in 1994 is relevant to what’s been happening in California with school CAB debt since at least 2000. A Detroit … Continue reading →

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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 →

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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 →

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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 →

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Letter to CNBC

Posted on August 8, 2012 by hro50ta1

On May 2, 1988, the public school in Holt, Michigan issued a “creative” financial instrument known as a Capital Appreciation Bond. It was the first of a wave of CABs that swept over Michigan school finance Until 1987, school debt … Continue reading →

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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 →

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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 →

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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 →

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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 →

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