Oakland

Opinion: It Is Fiscally Irresponsible to Delay a Public Bank in Oakland

Published

7 years ago

June 26, 2017

The Oakland City Council this week once again postponed approval of the Public Bank of Oakland Feasibility Study, despite the testimony of many supporters and a demonstration outside City Hall of dozens of paper bills hanging from the iconic Coastal Live Oak tree, symbolizing the fact that the Public Bank will “make money grow on this tree.”

The original resolution was passed last November, seven months ago. It’s now on the agenda for the July 18 meeting, postponed for another month.

It is fiscally irresponsible to keep postponing what will be a huge benefit to the city.

The good news is they had to bring in the big guns to oppose the bank, bringing in City Administrator Sabrina Landreth to present the staff report opposing moving ahead with the feasibility study. Landreth is the highest-ranking staff person in the City.

That’s a compliment to the determination and unity of the bank’s supporters.

The excuse this time was that they want those who will benefit from the bank to pony up some of the cost of the study. That sounds reasonable until you realize that they want money from cities a quarter the size of Oakland and from the cannabis industry.

Harborside Health Center alone has, over the last 10 years, paid the over $5 million in taxes. The cost of the study, $100,000, is only 1/50 of those tax monies.

At this point, it feels as though we’re trapped in some horrible fairy tale where the evil king promises the young hero his daughter’s hand in marriage, if he just kills the fire-breathing dragon.

And when the hero obediently brings the dragon’s head to the king, he laughs and says, “And now you have to clear all my fields of rats, and then you can marry my daughter.”

Oakland can afford to spend $100,000 for this study. In fact, the city can’t afford not to spend it.

Based on the experience of the highly successful public bank of North Dakota, we are losing as much as $186,000 every day that we don’t have a bank.

That means Oakland will lose $5 million between now and the next hearing because of the City Council’s failure of nerve. This is fiscal irresponsibility.

Oakland Post

Posts by Oakland Post

Activism

Oakland Post: Week of April 24 – 30, 2024

The printed Weekly Edition of the Oakland Post: Week of April 24 – 30, 2024

Published

6 days ago

April 26, 2024

Oakland Post

To enlarge your view of this issue, use the slider, magnifying glass icon or full page icon in the lower right corner of the browser window.

Oakland Post

Posts by Oakland Post

Bay Area

BART to Retire Legacy Trains in Public Ceremony April 20

Published

2 weeks ago

April 20, 2024

Oakland Post

The Richmond Standard

Bay Area Rapid Transit’s final dispatch of legacy trains will take place on Saturday, April 20, and will be accompanied by a retirement ceremony and a final legacy ride.

At 1 p.m., the public is invited to celebrate the last run of BART’s legacy trains during a ceremony that will take place in the free area of the plaza at MacArthur Station in Oakland.

Following the ceremony, the public is invited to board a legacy train and ride from MacArthur to Fremont Station, mirroring the initial service BART provided when it opened Sept. 11, 1972.

“It’s a 45-minute trip that travels along approximately 24 miles of the original section of tracks,” BART officials said.

Multiple legacy trains will run for the event, and all will make station stops and may turn around at Bay Fair depending on the number of attendees waiting to ride. Regular fares will apply.

“These train cars are part of the history of the Bay Area,” said Bob Powers, BART general manager. “While we are excited to modernize the system, we recognize the profound cultural importance of these cars, and we want to celebrate their rich history and give them a proper send off.”

BART is now running train cars from its Fleet of the Future project.

Those nostalgic for the older trains will be able to view three of them soon at Western Railway Museum in Suisun City.

A handful of other legacy cars will be transferred to be repurposed for short-term rentals, entertainment venues, and training facilities, according to BART. Most of the legacy cars have been recycled.

Oakland Post

Posts by Oakland Post

Bay Area

Mind, Body, and Spiritual Well-Being for Women Addressed in NAACP Forum in Oakland

The Women In The NAACP Oakland Branch is proud to announce the upcoming “Total You – Mind, Body, and Spirit Women’s Health Forum” scheduled for April 27 at Acts Full Gospel Church. Running from 9 a.m.-2 p.m. at 1034 66th Ave., this forum aims to provide an empowering platform for women to engage in discussions, gain knowledge, and access resources pertaining to their health and well-being.

Published

2 weeks ago

April 20, 2024

Oakland Post

The panel will address various aspects of women’s health, including physical, mental and emotional well-being and relationships. iStock photo by Jorge Elizaquibel.

Special to The Post

The Women In The NAACP Oakland Branch is proud to announce the upcoming “Total You – Mind, Body, and Spirit Women’s Health Forum” scheduled for April 27 at Acts Full Gospel Church.

Running from 9 a.m.-2 p.m. at 1034 66^th Ave., this forum aims to provide an empowering platform for women to engage in discussions, gain knowledge, and access resources pertaining to their health and well-being.

The forum will feature renowned experts, healthcare professionals, and advocates from Genentech, John Muir Health, Sutter Health of The East Bay, Kaiser Permanente, and the Alameda County Public Health Department.

Our expert panel will address various aspects of women’s health, including physical, mental, and emotional well-being, and healthy relationships. The forum will encompass a wide range of topics such as breast cancer, menopause, reproductive health, nutrition, mental health awareness, preventive care, and much more.

Participants will have the opportunity to attend informative sessions, interactive workshops, and panel discussions led by experts in their respective fields. Additionally, there will be wellness activities, screenings, and informational booths offering valuable resources and support.

This forum is open to women of all ages and backgrounds, encouraging inclusivity and diversity in the conversation surrounding women’s health. Whether you’re seeking information for yourself, a loved one, or simply looking to connect with other women, this event promises to be enlightening and empowering.

For more information and to register for the Total You Women’s Health Forum, please visit https://www.naacpoakland.org/ or contact Dr. Delores Thompson. WIN chairwoman at (510) 328-3638.

The Women In The NAACP Oakland Branch is dedicated to empowering women, and young teen girls. We look forward to your participation in this important event.

To register, go to https://www.naacpoakland.org/events/the-total-you-womens-health-forum