.

Video~Part III: John Russo Talks Budget and Pensions

Budget cuts are coming, says the man who will become Alameda's city manager next month.

This is Part III of a five-part series about John Russo, who will become Alameda's next  on June 13. In this portion of the interview he talks about , the cost of public safety and how to move toward a solution.

If you missed the previous pieces of the interview, here's  and here is. 

Next week it's on to Russo's thoughts about and, finally, the future of Alameda.

Bryan Gower May 13, 2011 at 03:06 PM
Maybe "Skin in the Game" is derived from Shakespeare's reference to a "Pound of Flesh" in the Merchant of Venice?
John May 13, 2011 at 03:50 PM
What Does Skin In The Game Mean? A term coined by renowned investor Warren Buffett referring to a situation in which high-ranking insiders use their own money to buy stock in the company they are running. The idea behind creating this situation is to ensure that corporations are managed by like-minded individuals who share a stake in the company. Executives can talk all they want, but the best vote of confidence is putting one's own money on the line just like outside investors!
joel May 13, 2011 at 04:23 PM
Budget cut , 1 : eliminate the car pool at $150 000 you can afford your own vehicle to commute and or you do not need City vehicle to go shopping in town . 2 : have all City Employee responsible for their retirement like the teachers do . 4 : terminate Employees involve in conflict of interest 5 : Identify why in several dept involving the point Employee were terminated or forced to retire without exit interview , as not to leave trace . What did they knew or know that the Manager or Mayor do not.
carol gottstein May 13, 2011 at 05:54 PM
But how will a 10-year plan keep Alameda out of receivership in 2 years?
John May 13, 2011 at 08:21 PM
The 10 Year contracts implemented in OCT 2001 and the months following in the absolute worst financial times our country has seen since the Depression and we offered Lifetime Pensions of 90% of highest pay and medical benefit and salary packages that have crippled the citizens of Alameda and the city. Most companies at this time were cutting salary's and Benefit packages 50% and laying off just to survive and implemented self directed retirement plans with very small contributions by the company. The Taxpayers have given up alot of "Skin" and the City has deferred most maintance using duct tape and mirrors to keep sustaining these Salary packages to our employees. To keep making small cuts instead of biting major bullet just keeps the swirl of cash going down the perverbial drain IMO.
John May 13, 2011 at 09:02 PM
City Charter States Establish on or before July 1, 1938, a retirement, pension and insurance system for City officers and employees based on sound actuarial principles, which system once adopted shall not be amended except by majority vote of the full Council and shall not be repealed except by the People. Such system shall provide for the support thereof by deductions from the compensation of officers and employees of the City and contributions from City funds and funds under the control of the respective boards. I believe what we have in place now is not based on sound actuarial principles

Boards

More »
Got a question? Something on your mind? Talk to your community, directly.
Note Article
Just a short thought to get the word out quickly about anything in your neighborhood.
Share something with your neighbors.What's on your mind?What's on your mind?Make an announcement, speak your mind, or sell somethingPost something
See more »