Sponsored by George Fox University
Home Must Reads TriMet sliding into debt

TriMet sliding into debt

| Print |  Email
Must Reads
Monday, October 01, 2012

TriMet is sliding into debt, and its unfunded pension liability of $900 million is growing by $1.5 million each week, according to a new audit.

TriMet spokeswoman, Mary Fetsch, says the agency can meet its current financial obligations, including health care and pensions. She says TriMet has unfunded liabilities because of the cost of benefits.

She explained, "We just settled our union contract and we're beginning to make progress on bringing those costs down. It's a long term issue and it will take several contracts in order to be able to do that."

Read more at OPB.

{biztweet}trimet debt{/biztweet}

 

Comments   

 
Guest
0 #1 living in the real worldGuest 2012-10-01 19:22:22
For those of us who live in the real world - not the make believe land of public pensions - we don't get to go merrily along with unfunded liabilities - we have to do the hard thing and actually cut costs in line with our revenue projections. This is a behemoth agency that pays more in benefits and pensions and salaries than comparable private employers. Time for the hard choices....
Quote | Report to administrator
 

More Articles

Q&A: David Lively of Organically Grown Co.

News
Tuesday, July 01, 2014
OGCLogoBY HANNAH WALLACE | OB BLOGGER

Demand for organic food continues to soar: Last year, sales of organic food rose to $32.3 billion — up 10% from 2012. In Oregon, organic produce wholesaler Organically Grown Co. has been championing organic growing methods for four decades.


Read more...

Blips and trends in the housing market

News
Thursday, June 26, 2014
062614 thumb realestateBY ERIC FRUTS | OB BLOGGER

Last year, the housing market in Oregon—and the U.S. as a whole—was blasting off. The Case-Shiller index of home prices ended the year 13% higher than at the beginning of the year. But, was last year a blip, or a trend?


Read more...

Who said we should sell in May?

Contributed Blogs
Friday, July 18, 2014
BullMarketBY JASON NORRIS | OB GUEST CONTRIBUTOR

Back in May, we shared a common Wall Street quote about investing, “Sell in May and go away.” Fast forward to July and the most common question we have been getting from clients is, “When is the market pullback going to occur?”


Read more...

The global challenge

News
Friday, June 27, 2014
062714 thumb globalmarketBY JASON NORRIS | OB BLOGGER

Over the last several months we have seen a wave of cross-border acquisitions, primarily U.S.-based companies looking to purchase non-U.S.-based companies. There are a few reasons for this, but the main culprit is the U.S. corporate tax system. The United States has one of the highest corporate tax rates in the world.


Read more...

South Waterfront's revenge

News
Thursday, July 24, 2014
MoodyAveBY LINDA BAKER | OB EDITOR

Remember the naysayers?  Those who called the South Waterfront aerial tram a boondoggle?  Those who rejoiced at the massive sell off of luxury condos at the John Ross and Atwater Place?


Read more...

Attack of the Robin Sages

Contributed Blogs
Monday, July 07, 2014
070714 thumb linkedinfakesBY TOM COX | OB BLOGGER

Named after the 2010 experiment by Thomas Ryan, "Robin Sages" are fake social media profiles designed to encourage linking and divulging valuable information.


Read more...

100 Best Green Companies Keynote Speech

News
Friday, May 30, 2014

green2014-069Watch the 2014 100 Best Green Companies keynote speech by Eric Friedenwald-Fishman.


Read more...
Oregon Business magazinetitle-sponsored-links-02
SPONSORED LINKS