State proposal: Rendell offers $35 million loan package to aili...

Full story: The Morning Call

The saga of the Boscov's bankruptcy took a bizarre turn Thursday, with Gov. Ed Rendell offering $35 million in government loans to help the ailing department store chain regain its financial footing at the ...

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Yooooooo

Bangor, PA

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#1
Nov 21, 2008
 
development block grants

I hate the word GRANTS!
All GRANTS!
This plain not fair!
ABR

Bethlehem, PA

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#2
Nov 21, 2008
 
Rendell is a jerk off. I did vote and not for him.
gdd

Kingston, PA

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#3
Nov 21, 2008
 
thats right fat eddie keep giving it all away. then just raise our taxes a little more we don't mind! don't you government fools realize whats coming.
jmo

Norristown, PA

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#4
Nov 21, 2008
 
I can't even stand his face...such a big crook and phony. I wouldn't vote for him either.
big eared chimp

Northampton, PA

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#5
Nov 21, 2008
 
Albert Boscov gave $132,906 to Rendell between 2005 and 2008 in both cash contributions and in-kind donations of goods or services, according to Department of State records.

Rendell, a longtime friend of Boscov
Tom

United States

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#6
Nov 21, 2008
 
I am tired of every company coming out of the wood work wanting a taxpayer bailout!!! Enough already! There is an even better place for that money, back in the taxpayers pocket!!!
ABC

United States

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#7
Nov 21, 2008
 
Boscov's financial situation did not happen over night. My guess is that a great deal of this situation was caused by Boscov's opening store, after store, after store in a very short period of time. Boscov's put out way too much capital to open these stores and didn't look at the future when the money borrowed to open these stores would be due. They never considered that the economy runs in cycles.

The bottom line is that Boscov's made very poor business decisions. If this was you or I with a small family business Rendell wouldn't look twice at us. Let Boscov's face the same consequences as any other business would after making the same narrow minded decisions. There's much uses for our hard earned tax dollars.

I wonder if Boscov's donated money to Rendell's campaigns for him to run to their side like this?
Bethlehemite

Allentown, PA

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#8
Nov 21, 2008
 
Excuse me? What in the name of all that is holy are we doing here. It's not like life won't go on without Boscov's. I really think Rendell has lost it. Any politician in Harrisburg who supports this should be remembered next election.
Yooooooo

Bangor, PA

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#9
Nov 21, 2008
 
Remember Hess Bros. in Allentown? They did the same thing - store after store - than they failed.
ABC wrote:
Boscov's financial situation did not happen over night. My guess is that a great deal of this situation was caused by Boscov's opening store, after store, after store in a very short period of time. Boscov's put out way too much capital to open these stores and didn't look at the future when the money borrowed to open these stores would be due. They never considered that the economy runs in cycles.
The bottom line is that Boscov's made very poor business decisions. If this was you or I with a small family business Rendell wouldn't look twice at us. Let Boscov's face the same consequences as any other business would after making the same narrow minded decisions. There's much uses for our hard earned tax dollars.
I wonder if Boscov's donated money to Rendell's campaigns for him to run to their side like this?
David-1206

Atlanta, GA

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#10
Nov 21, 2008
 
Is Boscov's unionised?
David-1206

Atlanta, GA

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#11
Nov 21, 2008
 
big eared chimp wrote:
Albert Boscov gave $132,906 to Rendell between 2005 and 2008 in both cash contributions and in-kind donations of goods or services, according to Department of State records.
Rendell, a longtime friend of Boscov
If this is true, then this is a political payback
Fed Up

United States

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#12
Nov 21, 2008
 
David-1206 wrote:
Is Boscov's unionised?
No it's not unionized.
Truf dot com

Allentown, PA

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#13
Nov 21, 2008
 
He's currently the governor, and was the mayor of Philly... and he's hard pressed to think of companies located in this state with more than 5000 employees? We must have the worst governor in the nation.
Crucifiy Him

Cranbury, NJ

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#14
Nov 21, 2008
 
Truf dot com wrote:
He's currently the governor, and was the mayor of Philly... and he's hard pressed to think of companies located in this state with more than 5000 employees? We must have the worst governor in the nation.
AMEN!!!
Scott

Bethlehem, PA

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#15
Nov 21, 2008
 
35 million on saving a retail store! Try fixing our roads and bridges with that money. It's amazing how this state complains they never have enough money to fix things yet they have the money to give to a failing retailer. Let Boscov's fade away into the abyss of lost business empires. Why is this country intent on saving failing business's? This country was built on capitalism...why are we trying to fix it with socialism!!
David-1206

Atlanta, GA

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#16
Nov 21, 2008
 
Truf dot com wrote:
He's currently the governor, and was the mayor of Philly... and he's hard pressed to think of companies located in this state with more than 5000 employees? We must have the worst governor in the nation.
Other states have net job increases and booming economies, due to low taxes and a pro-buisness climate by government.

Why is it that Pennsylvania is never in competition for the auto jobs by foreign companies? Or why is it that Mack Trucks has decided to leave?

This is because of the aject FAILURE by Rendell and the other Democrats in Harrisburg to tax and tax and tax and do nothing about the drain of industry leave the commonwealth...

But of course, the Democrats of Pennsylvania deserve the government they voted for....
snowman Easton PA

Bethlehem, PA

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#17
Nov 21, 2008
 
Fat eddie, a very special crook. We only have ourselves to blame for electing this POS. And he recused himself from the decision... how fling dumb do you think we are you crook? What really bothers me is the fact that these workers at $338 per week are the maonstays of our tax system thanks to the crooks we have in our political parties in Pennsylvania. And he is anticipating a run for the US Senate in 2010.
Ken

United States

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#18
Nov 21, 2008
 
Well it doesn't surprise me one bit. It just shows how Fat Eddie takes care of his political cronies.$132,906 for a 35 million dollar return, doesn't sound bad to me!
Next will be abig financial bailout for Philly.
Fed Up

United States

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#19
Nov 21, 2008
 
What happens if Boscov's continues business as usual after this "loan?" I was in a Boscov's Sunday. It's a sad state of affairs.

The brand names are disappearing. Why would you shop there if you can go else where for cheaper like Kohls?
bob

Catawissa, PA

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#20
Nov 21, 2008
 
Having been a shopper at Boscov's for more than 50 years I endorse giving them a loan. I believe they need to go back to the old real bargan days and stop trying to be Macys. Upscale shoppers reject the Boscovs mixture. Time to cut the fat and get real with merchandising.

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