The CCIA has been in the headlines quite a bit recently. Lou’s juggernaut is full-steam ahead in “trash Steve Wymbs” mode. Before you blindly believe the pablum being served by a willing press, keep a few things in mind.
When Wymbs resigned, both sides were beholden to a legal agreement to not discuss the particulars. Wymbs is currently in California, incommunicado; Magazzu immediately launches a full-court press, using every opportunity to take Wymb’s name in vain.
Fact – when Wymbs was in control, the board of directors, stacked by Lou, has full access to all financial particulars, and had a duty to know what was going on. They had a responsibility to report to their freeholder liaison any pertinent information.
Lou is blaming Wymbs for the proposed expansion of the landfill. However, it was Lou’s appointed board of directors that approved this expansion and accompanying borrowing repeatedly.
Lou seems to allude that Wymbs mislead him about the credit-worthiness of the CCIA. However, their rating was not a number that Wymbs made up. The CCIA had an A3 bond rating by Moodys, certainly not a fly-by-night operation. Moodys surely would not be mislead by the smooth talk of a Director, as Lou Magazzu seems to imply.
The solvency and financial status of the CCIA is information that Magazzu was privy to, if he was only willing to look and listen. However, I imagine he had another plan – first to get rid of Wymbs (his animosity towards Steve was well publicized) and then to destroy Steve with innuendo and venom long after he was gone.
Lou puts his patsy in place. Don Rainear – who comes with such glowing recommendations from the many, many previous public patronage jobs that he was ousted from – is given the job of painting as bleak a picture as possible. “Moody’s must have been involved in Wymb’s grand conspiracy to drive the CCIA into the ground.” By what outside authority does Rainear back up his conjecture? He needs none, his word is gospel to Lou – more likely his findings are coming directly from Lou, having been predetermined.
Here is my prediction. Rainear’s findings will be exactly what Lou wants them to be, and will be used as “evidence” of Wymb’s total mismanagement of the Authority for personal profit. This in turn will be used as the reason that the county should take control of the CCIA, hence allowing Lou total access and discretion for funneling the excess money towards his own pet projects – read: money to go only to Democrat insiders to waste and spend as they see fit.
Keep your eyes on this one, folks!