Tag Archives: warning

Comptroller Warns Memphis About ‘Scoop and Toss’ Debts

The state comptroller on Monday issued a stern warning to Memphis officials about the city’s fiscal condition, reports the Commercial Appeal. He focused concerns on a debt refinance plan the city wants to undertake that defers debt to about 2025.
State Comptroller Justin P. Wilson called such fiscal moves “scoop and toss” because they defer debt years down the road.
The comptroller late Monday released copies of a letter and financial report he sent to Mayor A C Wharton and City Council members earlier in the day that reveal officials have been in discussions with the state’s chief fiscal compliance officer for several weeks about Memphis finances.
In the letter, Wilson outlined several corrective measures the city must take before he will sign off on the municipal bond refunding plan — designed to defer obligations to 2025 and free up more cash flow for current obligations — but Wilson said those steps are more technical in nature and the city needs to address its underlying fiscal problems of low fund reserves, a declining tax base and budgetary imbalance.
In the letter, the comptroller wrote that “It is critical that Memphis change its course to reverse” those trends. “Tough decisions are necessary to change that direction. Failure to make the decisions could have very serious consequences. I pledge our support.”
In a brief interview later, Wilson said that the city’s “financial reporting is good. And Mayor Wharton to his credit recognizes they have a serious problem that if not corrected, could lead to real disaster. I think they’ve recognized this can’t go on forever. Apparently this has been building up for a long period of time.

TBI Blasts ‘Without Warning’ TV Report on Missing Woman

News release from Tennessee Bureau of Investigation:
Nashville, Tenn. – The Tennessee Bureau of Investigation has determined that the non-profit organization “Without Warning” did not investigate the case of missing Tennessee woman, Holly Bobo, to law enforcement standards as reported by Nashville television station WSMV which aired several stories during newscasts this month as well as a special documentary which aired May 12, 2013.
While speaking to TBI Special Agents, each member of the private investigative team admitted that they regurgitated information they had heard and read in order to talk about the case on television.
In addition, the founder of “Without Warning,” Sheila Wysocki, wrote in an email to a TBI Special Agent, “You all have to realize that we have been able to make any story surrounding this case a ratings winner and online success which was the goal. In return, someone may come forward to be the hero and give you all the right information to resolve this case.” Each member of the team stated the information provided to them came from the victim’s family.

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Senator Wants Losing Label on Lottery Ads

A state legislator who once proposed banning nearly all advertising for the Tennessee Lottery now is trying a different tack: a warning label.
From The Tennessean:
Sen. Jim Summerville, R-Dickson, filed a bill Thursday that would require all lottery advertising to prominently include this notice: “Warning: You will probably lose money playing the lottery.”
If enacted, it could make Tennessee the first state lottery with a warning label. Summerville said his goal is to make consumers more aware of their chances of winning.
“We have warnings on cigarettes, and we should have warnings about lottery tickets,” he said. “States that sponsor gambling should fully disclose the risks.”
The measure would require displaying the notice on all print, outdoor and point-of-sale advertising, including in foot-high letters on billboards, beginning Jan. 1, 2014. Those words also would have to be announced at the end of radio and television spots aired on and after that date.