Monday, January 24, 2011

Houston is Bankrupt

Mish has been harping on this for a long time, saying that Houston is bankrupt. (Thanks, former mayor Bill White!)

Now, from the Houston Chronicle, we learn that Houston's not bankrupt yet, but may very well be so in the near future.
Last year, one Houston Fire Department deputy chief retired and walked away with a generous check for $211,808 — and that was just for his unused sick days, vacation and holiday pay.

An executive HFD chief with 39 years on the job also retired in 2010 and left with a payout of $186,409 for his leftover sick time, vacation and holiday pay.

"They earned the money. So anybody saying 'can we afford it?' - the only way you can afford it is to steal it from them, because they've earned it,“ (Jeff Caynon, president of the Houston Professional Fire Fighters Association local 341) said. "I mean, this is for time they have worked."
Houston is supposed to have a strong economy, but this has to stop. The money ain't there.

4 comments:

Dan from Madison said...

Completely off topic, I am happy to report that we have an early spring on the way this year, since your hero Joe B. has predicted more of the very cccold stuff for the nation.

Leigh said...

At my company, which has a very generous vacation (four weeks) and sick leave policy, you don't earn sick leave. It's there for if you get sick. It's not something you earn, and the company does not pay sick leave if you are not sick. I believe our public workers should be paid well, however it would not be unreasonable for them to adopt some practices common at nearly every private company. First you have to use vacation or lose it. At least limit vacation carryover to a week or two. Second no payments for unused sick leave. I could go on and on but I'll restrain myself.

Anonymous said...

I agree. No payment for sick leave, it's there if you get sick, not extra vacation. Limit carryover of vacation to two weeks, max. If it's not limited, make the firefighters take the pay monthly after retirement, like HPD does.

Anonymous said...

There are several issues in this...first what is reasonable compensation for someone who risks their lives to save others...I don't think a fireman is any more at risk than a marine in a war zone...plus desk jokies are not front line people..also the carry over of unused vacation/sick days should be at the election of the city and it should be justified and reviewed by someone outside of the chain. Now the issue of a long term revenue and expenditure budget is with the mayor and her staff...and being an accountant all she has to do is ask for the city to prepare financials that reflect all obligations and to have conservative assumptions...most every accountant I ever met could do that in spades.