Sunday, July 10, 2011

The Hubris of Bobby Jindal

"The governor says test pilings will be going in the ground soon and, as far as he is concerned, nothing is going to stop this project."

Reality, Governor, reality.  Just remember that.

Remember the over 100 lawsuits underway involving expropriations of parcels in the UMC site made by the State of Louisiana through the LSU Board of Supervisors and the Office of the Governor.

Remember the lack of $400 million in necessary financing to build the first phase of the hospital alone - which makes talk of certain future expansion highly speculative and fanciful.  Remember that the failure to pursue HUD mortgage insurance will likely increase the cost of filling that gap given the signals it will send to the private market.

Remember how far behind New Orleans is when it comes to the race to build top-notch biotech infrastructure as you spout more Birmingham-envy - and how the city and state will likely have to spend exponentially more to get into any position to compete at this point.

Remember the unsustainable estimated $100 in annual operating costs in the form of a state subsidy - and the ramp-up costs, and whatever legacy debts need to be taken on.

Remember, too, that in admitting there is still no business plan - and there won't be one for months - you're illuminating just how irresponsible you really are by pushing for demolitions to continue before there's a feasible plan in place.

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