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Old 07-23-2013, 08:54 AM
 
1,175 posts, read 2,900,139 times
Reputation: 539

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If Detroit is going to make a comeback, it is going to need to be on the back of the young graduates of institutions like Michigan, MSU, Detroit, CMU and more. A huge factor in Baltimore's comeback have been the investments Towson, Loyola, UMD, VT and PSU graduates have made in living here and making there home here. Granted it takes jobs, but a good percentage of the people I know living here don't work in the city they just want to live here.
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Old 07-23-2013, 02:45 PM
 
Location: Maryland
18,630 posts, read 19,414,577 times
Reputation: 6462
How quickly folks forget. One thing folks seem to miss about Baltimore is that all the growth is in the suburbs. Just because a city has some shiny buildings doesn't mean folks live there. The suburbs of Detroit are some of the wealthiest in the country.

Baltimore has the same issues Detroit has expanding legacy costs without the human capital needed to generate the funding of such costs. Try hiring city residents for the most badic of jobs and see what will show up.

Baltimore Bankruptcy? City Forecasts Financial Ruin
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Old 07-23-2013, 03:26 PM
 
1,175 posts, read 2,900,139 times
Reputation: 539
You claim to work at Hopkins... is it the Hopkins in MoCo?

When is the last time you stopped by Federal Hill, Locust Point, Harbor East, Little Italy, Fells, Canton, Greektown, Butchers Hill, Mt. Vernon, ... which are all near your work and have put up and filled new building after new building. Or even stepped outside and seen the billions of dollars in work going on right outside your hospital including a 500 unit apartment complex on Washington St.

Baltimore has zero debt, they have to balance their budget every year by law. Detroit has been in debt for years. Every city in the country is going to have issues with pensions and Baltimore is getting ahead of it early.
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Old 07-23-2013, 05:01 PM
 
Location: Fed Hill
252 posts, read 425,312 times
Reputation: 80
Quote:
Originally Posted by KLynch10 View Post

Baltimore has zero debt, they have to balance their budget every year by law. Detroit has been in debt for years. Every city in the country is going to have issues with pensions and Baltimore is getting ahead of it early.

No debt. That is huge, I didn't even realize that. I love to point out Baltimore's failures from a gov't perspective, but it'll be hard with that.

That fails to mention the unfunded pension and post retirement benefits though...
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Old 07-24-2013, 10:43 AM
 
1,175 posts, read 2,900,139 times
Reputation: 539
Every city in the country will face that issue. The only reason Baltimore grabbed headlines is because they were trying to get ahold of it early by hiring a firm for the upcoming impact. The major impact of it is 10 years away, a lot of new income streams can be created between then and now, and now that the city is growing again, it's not out of the question to think we could have a tax base of 50,000+ more by then.
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Old 07-24-2013, 11:03 AM
 
Location: Bolton Hill
805 posts, read 2,115,567 times
Reputation: 241
Does Baltimore still offer a pension plan? If so does anyone know how it's structured?

The life pension plans after working for 20 years are destructive. Great for the people that have them but just don't work. I guess social security is like this in a way and look at it getting ready to fail.
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Old 07-24-2013, 11:32 AM
 
1,175 posts, read 2,900,139 times
Reputation: 539
They are in then process of switching city employees to 401ks. Not sure about the future with Police/Fire as they'll have to deal with the Unions.

Rawlings-Blake seeks to switch new employees from pensions to 401(k)-style plans - Baltimore Sun
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Old 07-24-2013, 03:00 PM
 
Location: Bolton Hill
805 posts, read 2,115,567 times
Reputation: 241
they are behind the ball compared to private corporations.
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Old 07-25-2013, 07:36 AM
 
1,175 posts, read 2,900,139 times
Reputation: 539
Of course, the smartest people are always in the private sector. Just look at high profile court cases where a prosecutor always gets their butt kicked by defense attorneys. And if you do a great job in the public sector, you'll be hired away by private companies for big money. This has happened to two consecutive SRB chiefs of staff.
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Old 07-25-2013, 02:06 PM
 
Location: Maryland
18,630 posts, read 19,414,577 times
Reputation: 6462
Quote:
Originally Posted by KLynch10 View Post
You claim to work at Hopkins... is it the Hopkins in MoCo?

When is the last time you stopped by Federal Hill, Locust Point, Harbor East, Little Italy, Fells, Canton, Greektown, Butchers Hill, Mt. Vernon, ... which are all near your work and have put up and filled new building after new building. Or even stepped outside and seen the billions of dollars in work going on right outside your hospital including a 500 unit apartment complex on Washington St.

Baltimore has zero debt, they have to balance their budget every year by law. Detroit has been in debt for years. Every city in the country is going to have issues with pensions and Baltimore is getting ahead of it early.
Baltimore has no debt? Quick someone tell the city.

Treasury Management
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