murray t turtle
Registered: Dec 2001
08-16-12 05:43 PM
Quote from nkhoi:
email from the governor of VA
August 15, 2012
Dear Fellow State Employees :
Thanks in great measure to your hard work and dedication to efficient and effective government, I will formally announce today that, for the third year in a row, the Commonwealth finished the fiscal year with a budget surplus that includes both revenue and savings. This total surplus of $448.5 million is comprised of the $129.2 million in revenue that I previously announced, plus $319.3 million in savings from unspent general fund appropriations, recoveries, and non-general fund balances. I am pleased to share with you in advance of my public announcement that $187 million in savings, largely due to your continued dedication to spending taxpayer resources wisely, made up the largest portion of the surplus total. To be clear, the largest share of this surplus would not have been possible without the hard work and ingenuity of state employees.
Interesting read[common wealth of VA];
nicknamed ''the old dominion state'' Another interesting muni read, an old ad wanting to buy NYC muni bonds[$50,000 minimum].
Mr Jimmy Cayne [old Bear Stearns]put that ad in the paper, durong the NYC crisis;
he , on phone, offered to pay $00.27 on the dollar.. The broker for the seller insulted him /refused.LOL
But same broker later called back and sold them for $00.25 cents on the dollar.All those details may not be exact, but probably close.The NY state supreme court helped get the bonds selling for $1.00 again . So it was a nice profit.
Frankly i would like to buy at that price also[.78 cents gross profit, plus yield] But not CA, mini bonds I was talking about NY. Upstate NY is quite rural/quite conservative, generally speaking, like VA.