To the Editor,
It is with interest and sadness I read of the City of Detroit’s bankruptcy. I sent an e-mail to our mayor and council with a copy of some of the information I read about the bankruptcy. I was happy to get a reply from a councillor, then I read the reply and was saddened as the councillor tried to reassure me that everything is OK; it can never happen to us.
Many big name companies that were “too big to fail” are no longer with us. Do you remember Eatons, Woodwards, Enron, Nortel, Daewood and Woolworth, just to name a few?
The way the City of Nanaimo spends our money it is not a question of if the city can go bankrupt but when? We have a city hall that sees no problem spending an extra $50,000 because the lowest bid gave them a certified cheque not a bond. It this was the staff’s own money would they pay an extra 26 per cent?
The guiding principle when spending tax dollars is that it should be spent as if it was your own money and you worked for it.
Terrance Wagstaffvia e-mail
