Monday, May 25, 2009

NML CEO Should Stick to Actuarial Tables

P-Mac points us to a letter from Ed Zore, CEO of Northwestern Mutual. (Scroll a bit)

It's really hard to believe that Zore wrote this:

As CEO of a major business in Milwaukee County, I know dedicated funding for transit is critical to the future success of my business.

As opposed to, say, good commercial-real-estate lending practices? Or savvy bond-trading? Or solid actuarial practice? Or excellent sales-forces nationally?

C'mon, Ed.


The local business community in Milwaukee is solidly behind the current RTA's recommendations to shift funding for transit to a dedicated sales tax. Many opponents of this transit proposal argue that shifting transit from the property tax to a sales tax is anti-business or will drive business away. That is categorically untrue

There's a reason for that: the "local business community" pays a helluvalotta property tax. They pay zero sales tax. In other words, "Please pay the freight, consumers, and I'll take the train, thanks!!"


The best observation was made by Patrick, (of course.) You'll have to read that here.


Badger said...

Is this why NW Mutual's campus was moved from downtown to Oak Brook?

badger said...

Sorry, Oak Creek. It might even actually be South Milwaukee. Point is it is in the middle of now where 80 or 90 blocks south of downtown and east of 94.

badger said...

west of 94. I'm going to stop typing now.

steveegg said...

Franklin, badger. However, NML does have a heap of undeveloped land on the Oak Creek side of 27th St.