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Daily Report Snap Poll Results

Do you believe the city of Rochester has an obligation- legal or moral-to repay the Rochester Ferry Co. LLC’s debt on the money it borrowed to buy the fast ferry?

75%
25%

COMMENTS

Look, a bad business decision does not absolve someone from paying a debt. Maybe there is a legal loophole, but certainly there is not a moral loophole. Let’s pay our debt and hold our heads high-a moral and right community.
-Pierre Heroux, owner/founder, Simply Crepes Café

The details of the transaction were never properly disclosed to the public. For example, renting the Rochester terminal for $1 a year for 40 years, subsidizing the cost of the Toronto terminal, and subsidizing Canadian ridership. Are city officers criminally negligent?
-Claude H. Wright

Elected officials have the legal and moral responsibility to serve in the position that they were elected to. If Bill Johnson, city lawyers, city Council and state officials manipulated and violated that rule, then they borrowed the money and should pay it back.
-Bill Lanigan, Chamberlin Rubber

Mayor Duffy is correct; the city created a company which borrowed the money to buy the ferry and guaranteed the debt. The city owes the money and should repay it. It is important to note that the city is not repaying monies owed by the individuals or entity which bought the ferry in the first place; rather, it is repaying monies which it, in effect, borrowed to try to save the situation. That was when good money was thrown after bad, not now.
-Thomas C. Burke, Osborn, Reed & Burke LLP

We don’t know if this is a “friendly” lawsuit against the city. Don’t think that it is out of the question that it was filed so that the city would have determination from a court about the obligation to repay the ferry debt without having the scandal of a filing by the city.
-Jay Birnbaum, Jay Birnbaum Co.

For more comments, go to rbjdaily.com. To participate in the weekly RBJ Snap Poll, sign up for the Daily Report at rbjdaily.com/dailyform.htm

08/24/07 (C) Rochester Business Journal

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