FRRPD looks for ways out of deficit

FRRPD looks for ways out of deficit

There are 7 comments on the Oroville Mercury-Register story from Mar 1, 2011, titled FRRPD looks for ways out of deficit. In it, Oroville Mercury-Register reports that:

The Feather River Recreation and Park District's board of directors has decided to meet every week until it decides how to improve its financial outlook.

Join the discussion below, or Read more at Oroville Mercury-Register.

close the gym

Oroville, CA

#1 Mar 1, 2011
The answer is obvious - not easy - but obvious. Close the Gymnastics Academy and tell the lenders they can have it.
Interesting numbers

United States

#2 Mar 1, 2011
Sorry Mary, but the figures they gave you are not correct. They forgot to mention the $1.5 million in interest attached to the gym loan! Someone is trying to make what they did look better by not providing all the details.
lost in oroville

AOL

#3 Mar 1, 2011
I agree close the gym and the awfull employees that came with it,move back to the muni. building,and let your nice,and experanced employes get back on track,and not be pushed around, and treated like dirt my the old owner.She should be thankful they even let stay as an employee,she thinks she still owns it,so she is running it into bank-rupy again!!!!!!!!!!
just saying

Stockton, CA

#4 Mar 1, 2011
For one, when you say how much loan is, it is what was borrowed. Everyone knows you have to pay back the interest on a loan, so of course you pay back more than you borrowed. Second, the bank loan is federal government guaranteed. I am not sure what that means, but if it means the government pays the bank if the district defaults on the loan, you can bet the feds will take a pound of flesh from the district to get the money back. You can't rip off the feds. Even Al Capone found that out.
Reality Check

United States

#5 Mar 2, 2011
just saying wrote:
For one, when you say how much loan is, it is what was borrowed. Everyone knows you have to pay back the interest on a loan, so of course you pay back more than you borrowed. Second, the bank loan is federal government guaranteed. I am not sure what that means, but if it means the government pays the bank if the district defaults on the loan, you can bet the feds will take a pound of flesh from the district to get the money back. You can't rip off the feds. Even Al Capone found that out.
It is misleading to say they have a 3.47 million dollar loan when they really have to pay back almost 5 million.
Huh

Long Beach, CA

#6 Mar 2, 2011
Reality Check wrote:
<quoted text>
It is misleading to say they have a 3.47 million dollar loan when they really have to pay back almost 5 million.
If you buy a house for $100,000 do you tell people that you bought it for $250,000 because you are including 30 years worth of interest?
Seriously

San Lorenzo, CA

#7 Mar 4, 2011
Huh wrote:
<quoted text>
If you buy a house for $100,000 do you tell people that you bought it for $250,000 because you are including 30 years worth of interest?
Yes, if you intend to be truthful about how much you are spending. Not if you are trying to mislead people.

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