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Midland Development Corporation, 2002 to 2008: $31 million in, $2.8 million out

Following up on ospurt's post on the most recent fiscal year reporting on the Midland Development Corporation, I went all of the way back to the beginning and have built a spreadsheet to be used to better illustrate the utter futility of our local Chamber's attempts to direct a portion of the local economy. When time permits I will begin posting the numbers and associated graphs, but the most striking thing is that since its creation in 2001 the Midland Development Corporation has soaked up roughly $31 million of your tax dollars.

And they have paid out in "Direct Incentives" just over $2.7 million dollars.

While paying themselves $3.2 million to do it.

Meanwhile, over $18,000,000 sits in the bank ready and waiting to go to the next Dean Baldwin Painting (Who knows? Google could always stop working.)

Curiously, the "multiplication factor" used in standard ChamberMath (TM) that takes any dollar that they spend and turns it (roughly) into the GDP of South Dakota is never applied to the $18,000,000 taken out of the economy and stuck in their bank account.

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21 Comments

Ok Ok! We all get it. The MDC exists to create jobs for its board members.

We get it!

Now turn your powerful Blog sights on another problem in our community that could effect more than a few empty buildings around town.

Shine your Blog spotlights on Midland Memorial Hospital!!!!!!!

Now there is a mess to be exposed!

How did they lose $1,000,000 a month for over a year?

Thanks

I believe the MDC is in the process of giving Basic Energy $2 million for a parking garage, LOL

As far as the hospital is concerned, I figure that a big part of the problem is that they are required by law to provide expensive services to people who can't or won't pay for them. What is your theory?

I've thought about the hospital, and have even complimented their adoption of Electronic Health Records at a fraction of the cost of other hospitals, but unlike the MDC and the City, the Hospital is too wrapped up in payments from the Feds and the State through Medicare and Medicade that most of their problems are not within their control.

However, rest assured we will be watching them as they push forward on the new patient tower.

What does this say about the judgment of President Meyers and Hospital Board? Do we owe an apology to former Vice President Larry Sanz?

Obviously YOU think it says something so take the time to type out what you think it says instead of the drive by, over the shoulder accusation.

Wals, Ospurt I concur with your assessments.

The hospital is not a private hospital and is beholden to the rules and regulations of the federal government for the monies which can keep it's head above water.

The biggest drain of money is the emergency room. People who have no GP's of record use this as a place to get an owie fixed...and when billed, plead poverty or never respond .

We ALL know this ! Yet it continues as it is mandated by the Fed. The hospital has come up with the "eggs" to actually demand recompense BEFORE treating your snowflake's bruise in the ER (Thus saving time for these TRAUMA doctors and nurses to do something like...er..save a life !

I just wonder how long that will last in the courts .

The ONE thing I am critical about, however , is the expansionist policies of the hospital . They tend to absorb almost every medical facility in the city that was beset by hard times ( Exception might be the hospital on Wall and Andrews Highway...and that place was GREAT ! Been there and LOVED it...Wife too ! Wonderful small hospital..It's gone now...pity.)

I realize that to generate more money from state and federal coffers you must grow ! Bigger you are , the more money you rake in .

But at what point does this collapse ? If you are acquiring more land and buildings to bring more Government revenue to pay for your pre-existing loans etc...you must spend taxpayers monies to acquire more and more so you get more federal monies !

AND

The government tells you HOW to do your billing .


This is how I see it . I will not deny I am full of crap occasionally...but this has been my opinion for sometime !

ANYONE ?

"Obviously YOU think it says something so take the time to type out what you think it says instead of the drive by, over the shoulder accusation."

"As far as the hospital is concerned, I figure that a big part of the problem is that they are required by law to provide expensive services to people who can't or won't pay for them. What is your theory?"

Was former Vice President Larry Sanz responsible for the law requiring free expensive services?

"the Hospital is too wrapped up in payments from the Feds and the State through Medicare and Medicade that most of their problems are not within their control."

Was former Vice President Larry Sanz held responsible for federal payments not within his control?


Why was Sanz fired?


Is "Anonymous", in fact, Larry Sanz?

And what does this say about Larry Sanz?

(See how easy and useless that is?)

It would not be in the hospitals best interest to be profitable, as the funding they get from state and federal dollars would vanish. MMH isn't the only public hospital in the read.

Did Larry Sanz get fired because of some other scandal? did it involve a woman? A cadaver?


I suggest MDC buy the naming rights to the new Cowboys stadium. Then we could name it "Midland, Texas Stadium, in Arlington"

From everything I have read Sanz wasn't fired, and by most accounts wasn't under pressure to resign. So I don't think it says anything about Sanz.

http://www.mywesttexas.com/articles/2008/10/28/news/top_stories/sanz_resigns.txt

"Midland Memorial Chief Financial Officer Larry Sanz has resigned from the hospital after being asked to do so, officials confirmed Monday."

I guess he should have refused to leave.

There is more to this than free ER visits and medicare payments.

We're listening, Anonymous.

If you've got it, then bring it.

I would say Anonymous is in violation of our general code of local conduct here at this blog. For those who don't know, we afford *local* political and civic leaders more protection from innuendo and idle speculation, because on the whole they are decent folk, we just tend to disagree with them from time to time.

The circumstances around the resigination of Sanz is marked as "not for public consumption", which is unusual for an officer of a public body, but there is no evidence of anything untoward or illegal that would have forced his resigination, and it is apparent the MRT looked.

It just seems like it was time for a change of leadership in a troubled financial time for the Hospital and it was done professionally and descretly.

President Meyers is the change of leadership. Former Vice President Larry Sanz was there for 15 years.

Meaning.......?

Dude. Make a point already.

I believe Anonymous is trying to make the point that if you have been employed by an ..er..employer ..for X many years , you are titled to "TENURE" and how DARE the powers that be that try to replace you no matter how nice they try to be.

My youngest teaches college and even at times of stone cold sobriety he sometimes sounds like Anonymous .

Not that he drinks.

Did I mention he is young ?

Anonymous , if my defense of your logic is wrong feel free to put Walsingham in his "proper" place.

He would like that .

Damn. I salted the mine and got nothing.

I guess Anonymous has said whatever it was he wanted to say..whatever it was .

Sometimes businesses decide they need a change in direction and they believe "new blood " is necessary.

This does not mean that the person who once held that job is unqualified/slacker/incompetent/et al, It simply means that another " style " of management is desired. usually this results in a fine recommendation from the previous employer and a better wage down the road.

But Anonymous , you NEED to put more than six sentences together and SPELL OUT your gripes and "Man Up" and address Walsingham's questions.

Or are you just another "Drive By" ?

Just watch for new information in the coming days. You will see that it is more than free ER visits and medicare payments.

All you have to do is pay attention.

Why don't you "scoop" the news outlets and break the story here?

Unless you can't because you don't really know anything nor have "new information".

And what does that say about Larry Sanz?

Or Bobby Sands for that matter?

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