Tag Archives: school finance

Being Black at UM

Posted on January 20, 2014 by admin

By Joel Thurtell “Being Black at UM” was the headline over my March 31, 1985 Detroit Free Press article about the life of black students at the University of Michigan. Almost 30 years later, Being Black at the University of … Continue reading →

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We need a federal ban on CABs

Posted on May 11, 2013 by admin

By Joel Thurtell According to California Treasurer Bill Lockyer, those school board members at San Diego’s Poway Unified School District who authorized bonds with a 10-to-1 ratio of debt to principal ought to be recalled. “Stupid,” was Lockyer’s description of … Continue reading →

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CABs, me and The NY Times

Posted on February 8, 2013 by hro50ta1

By Joel Thurtell If you get a mention in The New York Times, be grateful. Even if it’s baloney. Remember what P.T. Barnum said about not caring what the papers said about him as long as they spelled his name … Continue reading →

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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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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 →

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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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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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