Ghana junket. A reader writes with information and opinion about the trip by Wichita Mayor Carl Brewer and Vice Mayor Lavonta Williams (district 1, northeast and east Wichita) to Ghana, Africa: “I found it interesting that the City Council $15,000 plus junket to Ghana was first advertised as a Sister City recruitment trip (And after the Police Chief and others were identified) the trip mission changed to Economic Development. I have no idea how Ghana can help us when 56% of their economy is agricultural and in 2002 the government opted for debt relief under the “Heavily Indebted Poor Country Program.”Tomorrow night the Ambassador of South Africa is visiting Wichita and making a presentation on Economic Development to the World Trade Council at the Marriott East in order to hopefully partner with Wichita in future economic development projects. So the point is this: South Africa has a GDP of $527.5 billion and is coming to us for economic development (they import machine and equipment), and the mayor is spending thousands of dollars to visit Ghana, a country with a $38.24 billion GDP and mostly agricultural. Finally, foreign governments that invited American delegations always provide security if there is a need for it.”
Kansas job recovery seen as slow. From Kansas Reporter: “IHS Global Insight, a Lexington, Mass., business information and forecasting firm, calculated that at the pace jobs are being created or recovered now, Kansas workers will not regain the more than 90,000 lost since April 2008 until the end of 2014.” More at Full Kansas jobs recovery remains three years away, forecasters say.
Village West defaults. The Legends at Village West, a huge shopping development in Kansas City near the Kansas Speedway, has defaulted on its loan. According to reporting in Commercial Real Estate Direct, the property never met its cash flow projections, topping out at $10.3 million per year in 2008. The loan assumed it would generate $11.1 million. Since 2008 cash flow has fallen. The public policy interest is that this facility, along with the nearby racetrack, received millions in sales tax (STAR) bond financing, to be repaid by taxpayers through sales tax collections.
No Pachyderm this week. Due to the Thanksgiving holiday, the Wichita Pachyderm Club will not meet on Friday. Upcoming speakers: On December 2: Kansas Representative Dennis Hedke speaking on “Energy and environmental policy.” … On December 9: Beccy Tanner, Kansas history writer and reporter for The Wichita Eagle, speaking on “The Kansas Sesquicentennial (150th) Anniversary.” … On December 16: David Kensinger, Chief of Staff to Kansas Governor Sam Brownback. … On December 23 there will be no meeting. The status of the December 30th meeting is undetermined at this time. … On January 6: Kansas Senator Garrett Love. … On January 13: Speaker of the Kansas House of Representatives Mike O’Neal, speaking on “The untold school finance story.” … on January 20: Sedgwick County Commissioner Karl Peterjohn.