Jeff Kohut, policy wonk extraordinaire, shares this commentary on his prescient view of the city:
Dateline, Bridgeport: June 5, 2018: Headline distributed by the Connecticut Post to ethernet, satellite radio subscribers, and e-billboard sites — Bridgeport defaults on US/state-backed bankruptcy-bond payments. Washington and Hartford point fingers at each other for not providing proper support to collapsing city. Mayor Moales cites reduction in charter-school funding by the state and federal government for city’s default on long-term bonds issued after city’s financial collapse in 2016.
June 6, 2018: Connecticut Post headline — Several dozen major arson blazes overwhelm city/local fire departments following announcement of Bridgeport bond default. Several city blocks added to thousand-plus acres of vacant residential/commercial land. Fairfield, Trumbull, Stratford finalize plans for joint, moat/fence building on borders with city.
June 7, 2018: Connecticut Post headline – BCFC president-for-life, Chris Bruhl, expresses alarm at mass exodus of Stamford’s cheap labor source from Bridgeport to out-of-state havens following financial collapse. Fears Stamford/Greenwich difficulties could result from cheap labor shortage.
Dateline Hartford:
June 5, 2018: Hartford Courant headline – Moody’s issues “toilet tissue” rating on Bridgeport bailout paper following city’s default, Washington/Hartford fingerpointing.
June 6, 2018: Hartford Courant headline – Final remnants of Bridgeport tax base “firing up” insurance engines for exodus from city following bailout bond default. Steel Point anchor Bass Pro Shops moves construction start date back indefinitely.
June 7, 2018: Hartford Courant headline – Governor Malloy assures BCFC that mobile shelters for migrant labor will be trucked to Bridgeport to meet Stamford labor market’s needs. Governor suspends campaign to meet with FEMA head about getting used Katrina tents and trailers to Bridgeport to accommodate anticipated trainloads of cheap migrant labor for Stamford/Greenwich commercial/domestic needs.
Dateline Washington, D.C.
June 5, 2018: Washington Post headline – President Clinton cites Bridgeport, CT bond default as reason to pass jobs, industrial/trade policy and energy policy bills on Congressional agenda since February, 2017. President expresses dismay at failure of state and federal governments to enact appropriate jobs, industrial/trade and energy policies that would revitalize decaying cities such as Bridgeport.
June 6, 2018: Washington Post headline – President Clinton enlists help of husband Bill to formulate cities’ rescue plan in wake of Bridgeport, CT implosion. President cities husband’s “Enterprise Zone” initiative of the ’90s aimed at revitalizing the country’s “Bridgeports.”
June 7, 2018: Washington Post headline – President Clinton headed to Greenwich, CT in wake of Bridgeport collapse to stump at fundraiser for Governor Malloy’s re-election. The President has expressed regret she will not have time to visit Bridgeport during her stop in Connecticut.
***
Dateline, Fairfield, CT
November 12, 2018: Wall Street Journal headline – GE president, Jeffrey Immelt announces plans for massive, Mexican, alternative-energy equipment plant. Cites encouragement, incentives from Mexican/US governments and recent reaffirmation of NAFTA trade agreement by US and Mexico.
*** JUST WHERE ARE OUR FRIENDS FROM NORTH KOREA DURING ALL THIS? ***
Mojo,
“Friends from North Korea” are marching, saluting and trying to keep it together as the dysfunction grows and former friends grow distant. Does that sound familiar relative to Bridgeport?
Jeff,
My own crystal viewer tells me we do not have four more years of the same. It is harder to raise money from other governmental levels. The City keeps running the Steele Pointe video for us forgetting to put the sound bite with it that will inform the electorate SP will not bring financial relief for decades because of the special taxing district structure in which it operates. Got to pay the site development costs and debt before we get clear to apply funds throughout the City. Think that will work? Jeff, why not 2014, 2015, 2016 or 2017 at the latest before it folds in on itself? Time will tell.