Mayoral Candidate Jim Moody Featured in April 2nd Wall Street Journal

 Airport Privatization Article Featured Comments from Toledo Mayoral Candidate

Jim Moody, Toledo Mayoral Candidate, was quoted by the venerable Wall Street Journal in an article discussing the privatization of public airports, on Thursday.  Even though the article spoke of some complications to the Midway sale, it went on to say how billons of dollars have been raised by local governments. Continuing, the article mentioned that the entre State of Connecticut is looking as selling four or five of its airports

According to the WSJ: The U.S. is the exception among developed countries in keeping its airfields in the hands of cities and states. Britain, France, Mexico, China and many other countries have raised billions of dollars by selling stakes in airports to private investors.

Quoting the Wall Street Jorurnal: Around the U.S., other local officials have been hoping the Midway deal will blaze a new path for financing airports. In Toledo, Ohio, Republican mayoral candidate Jim Moody cited Midway when he proposed selling a share in the local airport to investors. He said he has received several calls to discuss the idea. "The mere fact that the [Midway] sale concludes is all I care about," he said. "That lets me know that we can do it.

"It'sclear that, while no deal of this magnitude is easy," said Moody, "it is well worth the effort."

Moody added, "This type of recognition proves that this campaign is powered by the right ideas. For the first time in a long time Toledo can lead the nation in substantive and achievable projects. No other campaign has presented the type of solutions we have, with the specifics on how to achieve them."

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Follow their procedures, and keep the money when the "investors" don't come through.

Old South End Broadway

What do the books say about the airport's profitability such that investors would feel compelled to get involved? I'm speculating that THAT is the critical question here.

I believe the airport lost $1.6 million last year and is carrying more than $20 million in debt.

Well, thanks for the stats, Bri. I was having trouble googlin' that up.

Considering the numbers, what "investor" would buy in?

Granted, it's easy to imagine an "investor" might buy in if he has a plan for reforming the operations of the airport, hence pull the place up to profitability. Considering the problems of that alleged intermodal site just a stone's toss from the airport, I have serious doubts such an interactive plan would be executed. I find it difficult to imagine that the Port Authority would cede that much power to some upstart just for some filthy lucre. Toledo is FAMOUS for people choosing to be lords of their smarmy domains rather than be subservient to more prosperous enterprises.

All the bottom feeders love a fire sale. Wonder if Moody goes to garage sales on the week-end?

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