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June 25, 2009
Noticing New York Discloses What MTA Chairman H. Dale Hemmerdinger Has in His Closet
Noticing New York
Skeletons, sure, but Michael D.D. White is more interested in Mr. Hemmerdinger's cravat. And how it relates to the MTA's failure to carry out its fiduciary duty.
Yesterday we promised to disclose today what MTA Chairman H. Dale Hemmerdinger has in his closet and today we will do so. It may have seemed a little bit personal, which is exactly what we intended. When we made our promise we wanted to remind the MTA board members who were about to vote today that the exercise of their fiduciary duty in their role as members of the MTA board is not something that can be compartmentalized and separated from personal honor and integrity.
...We have no doubt that all the evidence is resplendently stark that the bailout for Forest City Ratner approved* by the MTA board was a wired deal. We think that you would have to be a pretty dim bulb for that not to be clearly apparent. As such, we believe that members of the MTA board voting affirmatively today for all the additional giveaways to Forest City Ratner (the dim bulbs among them excluded) violated their fiduciary duty. This was pointed out by many of the public addressing the board before its vote today, including Assemblyman Jim Brennan, who spoke first and reminded the MTA members that they were lowering the price for the sale of the MTA property without first obtaining an appraisal.
Posted by eric at June 25, 2009 1:25 PM