Archive for the ‘Atlanta flood’ Category

Your morning jolt: Emory president hints at new, less charitable relationship with Grady

A state-of-the-university speech isn’t normally a source for political news, but in his address this week, Emory president Jim Wagner dropped several hints this week that his institution’s relationship with Grady Memorial Hospital is about to change.

The 46-minute YouTube clip can be seen here:

But if you don’t have that kind of time, at the 13-minute mark, Wagner a warning, and it wasn’t just for about-to-be furloughed employees. The Grady references are marked in bold:

”Spending from our endowment is entirely a short-term fix. In fact, it is an entirely unacceptable strategy for the long term. Instead, our strategy must be to come to a new financial level as soon as possible, that will allow us to go forward spending only a portion of the interest earned on that endowment…

“By developing new revenue, and reducing expenses, we must go forward on a financial base that is at least $60 million smaller annually than we had planned for from the endowment and our investment …

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Shirley Franklin: Put flood damage at $1 billion, not a paltry $250 million

Two days ago, state Insurance Commissioner John Oxendine put the cost of damage caused by the flooding of metro Atlanta at $250 million.

But I just finished talking with Atlanta Mayor Shirley Franklin, who said she’s been telling members of the Obama Administration that the final tally will be at least four times that high – beyond $1 billion.

That’s a big difference, especially when one is asking for federal help.

In assessing the damage to the city, Franklin said authorities have counted nearly 475 homes hit by the flood. “We know that 60 were destroyed, and over 200 were severely damaged,” she said.

If the average home has three residents, that’s more than 1,200 displaced. The price tag on the destroyed homes is estimated at $100,000 each, for the sake of quick math.

The hardest hit was the Lincoln Homes/Proctor Creek area.

Repairing the R.M. Clayton sewage treatment plant on the banks of the Chattahoochee River will cost between $60 million and $100 million, she said. …

Continue reading Shirley Franklin: Put flood damage at $1 billion, not a paltry $250 million »