Monday, December 30, 2013

Milfords CAFR Figures Continue to Disappoint

FACTS DO NOT LIE! Milford Liberals rack up city debt, and erode the balance sheet the same as their predecessor Liberal Republicans. The Graph below demonstrates that when it comes to eroding the city balance Sheet, Mayor Ben Blake keeps topping all previous records held by Jim Richetelli. The city is not yet bankrupt because we still have a few more assets than liabilities, but we are now 75% of the way there with Blake "the tax and spend snake." I predicted some years ago that under the present trends the city would be in big trouble around the end of 2014 at the latest, because that is when (under the present trends) Milford would have depleted its entire asset base. Every good accountant will tell you that when you have more Liabilities than assets you have a negative net worth or in other words you are bankrupt. This makes borrowing more difficult and creditors grow concerned about a responsible plan whereby the city can balance not only its budget but its books. This often results in a massive spike in property taxes, credit downgrades and a decline in services. The future of Milford looks puzzling with this administration at the city helm. We may want to think about fixing this problem before it fixes us. The source of these reports are the annual CAFR's located on the city website and the town public library. 

To enlarge the graph click the Photo Click HERE for direct link to the 2013 CAFR Also a larger Image is available here

Monday, October 7, 2013

Milford Independents & Republicans Re-Run Spalthoff

Peter Spalthoff, Republican Candidate for Milford’s Mayoral election this fall, was unanimously endorsed by Milford’s Independent Party at their caucus on August 24th 2013. This endorsement places the Spalthoff name on both the Republican and Independent Party lines on the ballot this November 5th.

After securing the support of the Independents, Spalthoff said, “I take the endorsement of the Independent Party seriously because, as most of you can remember, I ran as an independent four years ago and ran on a platform of "people before politics". I believe that now more than ever before.”

Almost every member of the Spalthoff team that includes Linda Stock for City Clerk, as well as all of the Republican endorsed Aldermen, Board of Ed and Planning and zoning members were endorsed by the Independents and will also be on both the Republican and Independent ballot.

Spalthoff went on to say “Thanks again to the party for the confidence they have placed in my team and me. I will certainly not let you down when it comes time to manage this wonderful City of ours.”

Peter Spalthoff has held multiple leadership roles for many years in numerous Milford community organizations such as the Chamber of Commerce, Milford Rotary, Woodruff YMCA, Milford Fine arts, Bridges, the Downtown Business Association and as Chairman of the United Way of Milford. His community participation reflects his passion for Milford and his desire to get involved and get things done. His vision is to make Milford stronger, more diverse, and prosperous. Visit his web site at or contact him at (203) 701-VOTE.

Trouble at the "Everything is not O.K." Democrat Corrall

This is in Reference to the Richard Smith article "Blake Supporter Comments on Campaign Signs" read that at the below link before you proceed.
 Normally I do not Comment on Richard Smith's articles, but since he saw fit to make this article his personal criticism of myself, and the Milford Independent Party I see fit to inform the readers here of the Truth, rather than the art of politics that Rich has mastered as the Chairman of the Democratic Town Committee.

 First and foremost I am one person, not the Independent Party, there are several hundred registered Independents and nearly half the town considers themselves Independent. Secondly, I find it to be in poor taste to smear Peter Spalthoff over an issue that has nothing to do with him personally.

 But to get the facts straight here, and having had a long history of this type of malice the MITC agreed it would be best to document everything so the public in Milford is not continually misguided by the actions of people with poor character.
 Fact Number One, Smiths Claims are baseless see the historical links below that state my original position. They are also accompanied with official statements from the CT and the MPD where they without being asked looked into their grievance with me personally.

 Fact Number 2 If you want to discuss what a poor choice of a Party the Milford Democrats are read about some of their past candidates, however do not let these bad apples tarnish the batch because there are at least Two Candidates we cross endorsed this year including Mark Ahrens who are terrific choices. It just so happens these people are rare in their ranks and as long as this kind posting continues on Patch I expect that good people will continue to not Run. The individuals named below have all been mainstream news so I believe this is the only exception to what ought to be a good rule.

Wednesday, June 26, 2013

Time to Get Real, Milfords Problems Have Just Begun.

When I ran for Mayor, a few years back I had Milford Patch put on the record that Milford was headed for some hard times, and was blissfully unprepared for the road ahead. One of the things I mentioned was the city CAFR's (Comprehensive Audited Financial Results) along with data I compiled from Meredith Whitney's forecast for the Municipal Bond Market. Now, it did not take a Genius to see that Milford was about to have 300M in bond debt according to what the CAFR trends were forecasting.

Today, I am writing this blog post to announce that there are events coming that will change the face of our city in ways that are hard to comprehend. There will be sacrifices that will have to be made not by choice or fiscal prudence but rather by “force majeure.” Some will be taken by complete surprise; others will be in denial as the ‘Normalcy Bias’ will be in full effect. However, over time, and like the challenges presented by the Great Depression of 1929, reality will manifest, and blame, confusion and anger will be the new norm for daily life in our Great city of Milford if we do not embrace our last opportunity to act.

Let’s keep in mind what I am talking about here; it’s the combined Global effect of all of our money as it currently exists in banks, it’s our 401K’s, its pension plans, it’s property values, its taxes, interest rates, it’s employment, and it’s the cost of those cherished things we can’t live without such as food and energy.

So let’s get down to it and answer the WHY?

There are Four factors and each are referenced below as they are in the early stages of fruition.

FACTOR ONE: The municipal bond market is currently Imploding just as Meredith Whitney said it would. What this means for Milford is that our days of selling Municipal Bonds to pay for city projects is rapidly coming to an end. The pleasant side effect of a collapsed Bond Market is that interest rates rise making any variable rate interest obligations that much more expensive as is the cost of borrowing new money rises. Milford has 300M in debt and borrows more every year.

FACTOR TWO: The city of Milford is OVER LEVERAGED according to the most recent CAFR. Now most of my pundits will say:  “the city is not over levered. Where does it say that?”  Well it does not say that expressly, however, it does EXPRESSLY say it in the city balance sheet. By my estimates the city of Milford today is burning through its asset base to the tune of Millions a year. Case in point, the ratio between all Assets, and all liabilities is about 75% in favor of liabilities a number that was 50% just Seven years back. With this factor along with the first now in play, our fiscal problems begin to accelerate. When the CAFR’s balance sheet crosses the point of no return, the City of Milford will have its credit rating Downgraded making its financial problems that much more complicated.

FACTOR THREE: Obamacare kicks in come January 1st. 2014, and with it come all of the increases in the cost of healthcare premiums. Obamacare spares no one, not even Municipalities who are very heavily levered in the healthcare game. The city will be responsible for health coverage of any individual who works a minute over 29Hrs. a week. This is going to create a spike in taxpayer covered healthcare.  A very large portion of taxpaying citizens are going to be also shedding their income to meet these new criteria, and thus far, there are no affordable options under the IRS offering. This, according to the economic principles of Game Theory, will result in a costly compliance mess at a time when the city will be looking to the taxpayers for additional tax increases from a public who themselves will be in a crisis of their own.

FACTOR FOUR (The Perfect Storm): As the Bond Market continues to deleverage and seek equilibrium, interest rates are going to spike, especially so without the FED intervening. Gresham’s law factually States that the “Good Money will eventually chase out the bad money”, therefore it’s safe to say that the FED intervention has exhausted itself and their influence is waning, When interest rates inevitably spike, the Stock Market will begin to stagnate and decline, as will the Real Estate Market of which depends on cheap money and interest rates to keep monthly payments affordable for new buyers. This, in Municipal terms, translates to lower property values, degradation of the Asset base as referenced on the city balance sheet, and a more dramatic shift in the Mill rate, as opposed to real property values. This also impacts the Conveyance Tax. When fewer houses sell, or when real estate in general sells at lower prices, this always results in fewer taxes to the city. 

These issues are hopefully nothing that should come as a surprise to our city leaders; I would think they would have prepared for this, given all of the uncertainty in the markets, the world, and the surreal nature of eventualities like the 2008 banking crisis becoming a bitter reality.

There is still time, and there are still solutions, and courses of action that can be taken to abate these future challenges. Furthermore, these solutions can be attained without threatening the rights of individual property owners, with excessive taxation burdens, or dramatic austerity measures that go far beyond the ones we have already endured. 

The time to think about Milford’s future is now. We should really think about what it is that we wish to give up more than we have done already. As many may know or remember we have given up two bulk Pickups, there is talk about rethinking the city Dog Pound, there is also talk about selling or leasing properties. All of this is certainly a start; however, it pales in comparison to the austerity that will be required. Milford may need to consider shuttering some lower level schools, combining high schools, selling off or leasing real estate, enter into discussions of early retirements, ending or reducing pension benefits or firing non-essential personnel like the “Open Space Manager” or “Energy Czar.”

Moving forward, and as a citizen of Milford, I expect that these issues be debated now, not when it’s happening, but right now in order to have some reasonable solutions carefully thought out ahead of time. Let’s be clear, NO ONE is going to like the Austerity coming right at us, and I promise many countries around the world have ongoing daily demonstrations whereby millions of people take to the streets to express their discord. To dismiss this responsibility as cavalier, or a ‘nonevent’ because there is no problem you can foresee at the moment is not only irresponsible but its terrible leadership. I hope and pray someone is listening.

Rocco J. Frank Jr.
Milford Independent Party

Sunday, June 2, 2013

Connecticut State Rep Dave Rutigliano 123rd, Fights for Independent Party

Just heard from Representative Dave Rutigliano our cross endorsed Independent Republican from Trumbull on the Independent Party name issue. For those of you who do not know Dave, he is the owner of SBC restaurants and this is his first term as a state Representative in Trumbull CT. He is regularly in Contact with the Milford Independent party and has been fighting for us since I brought the Independent name challenge to his attention about a month ago. This evening at about 4:00 P.M. 5/31/3013 he called to let me know that he was able to take part in, and work toward a compromise on the use of the Independent Party name. Dave said that he is not entirely happy with the compromise that was reached, but is happy that we can still use our name and still appear on the ballot as the “Independent Party.”

The part of the compromise that has him disappointed is what he refers to as a “dilution” effect of the current compromised bill. This “dilution” in his view gives a misleading advantage to petitioning candidates who will appear on the ballot as “Independent” in opposition to “Independent Party.” It is my personal opinion that this violates the equal protection clause of our state and federal constitution. Since we cannot form a squatting party of “Independent Republicans,” or “Independent Democrats,” the sponsors of this bill have created a separate set of rules that protect their respective parties interests, while ours does not garner the same, or equal protection from dilution or encroachment. Dave has asked, that we contact the office of Dan Malloy, Mr. Lawlor, and even our local and state senators and express our objection to the name encroachment being given to non-members of any squatting party, or non-party, let alone ours.

State Central Committee Leadership, and the embattled chair of the State Independent Party gave his first inclination that the use of the word "Independent" across all non party lines could potentially be "Positive for the Independent Party." Mike said that "Lowel Weiker and Joe Lieberman were both repeatedly called Independent by the state media despite the fact that neither one  were members of any party bearing the name Independent." Mike believes that the added use of the name on statewide ballots will reinforce our legitimacy as a party.

State Senator John McKinney also came to the table and called the bill Unconstitutional, a “disgusting, arrogant power grab,” by the Democratic majority. To read more on this issue click the link below to be redirected to CT Newsjunkie.

Wednesday, May 22, 2013

Come march with us in this years Memorial Day Parade!

Dear Independents, Bring an American Flag, dress up in Red White and Blue, or do something patriotic with us this Independence Day!
We are calling out all Milford Independents to come and Join us in our 3rd, Annual March in the Milford Memorial Day Parade.
Do not be shy, join us in the parking lot next to the Parsons building and assemble with us, or you can join us mid route. Just step off the Green and show your solidarity and support for Honest People, For Honest Government.
This should be a very spirited and excitingly fun day and I look forward to you joining us any way you can even if that is in spirit, and/or with your votes come 2013. We all work very hard to bring you those people who adhere to Americas good old fashioned values of Freedom, Liberty, Integrity, and Honesty and most of all we embrace our nations greatest creation ever devised for the benefit of not only us and our families, but the people of the world who mimic its principles, the U.S. Constitution.

Friday, May 10, 2013

05/30/13 Next Independent Party Meeting

 Dear Independents, Press Reporters, and Friends

Mark your calendars, and reporters please list this meeting in the papers, our next meeting is scheduled for Thursday May 30th at 7:00P.M. The location will be 374 Ne...w Haven Ave. in the ComputerFox Inc. Conference Room. This meeting will focus on the upcoming Municipal elections, the selection of an Independent screening committee to evaluate/nominate Peter Spalthoff for Milford Ct. Mayor, as well as field any other candidates for our endorsement to this years Municipal races. Peter has been invited to this meeting, and the public is welcome to attend.

There is much to discuss and get accomplished in the coming months. It is therefore really important that you participate and make your voice heard so we can once again move forward with greater clarity in 2013. We will also be discussing our position in the Oyster Festival in 2013 as well as focusing on some fund raising ideas to help the Independent Party and its candidates running for office.

This meeting may be your last opportunity, (prior to the official caucus,) and time to let us know if you wish to run for office, or to apply for a cross endorsement from us.

I personally enjoy hearing from each and every one of you and carry
your thoughts and ideas with me whenever speaking or lobbying on behalf of our party. However, please remember that I alone am not the Independent Party, it is you, and all of us who communicate, participate and share in our likes and dislikes that shape our beliefs, our traditions, and future ambitions.

Therefore it is with great joy and excitement that I look forward to you
attending our next meeting. The time has come to get the positive energy
levels out and start thinking about our mission within our community.
Please join us and spread the word to your friends and neighbors as you
are all are welcome to attend.


Rocco J. Frank Jr.
Your 2013 ITC Chairman
(203) 247-4357

Friday, April 5, 2013

Gun Grabbing Gayle Slossberg

Gun Grabbing Gayle Slossberg votes her own way and not the way of her constituents on the state Gun Bill. Shame on Gayle for making the State Senate about what she personally wants and not what her constituents want. Truly sad and shameful ...behavior. This is why Kim Rose got the MIP endorsement and Gayle lost hers, its because she does not honor her responsibility to her constituents, and ignores polls, unless its election time. See vote here:
Rep Kim Rose had this to say much to her credit: "I believe that this is a layer of new regulations that are being applied to our law abiding citizens. Magazines on the streets will not be registered. Perhaps requiring a "permit" to purchase ammo will help although it will probably just create another illegal trafficking product. I have polled my constituency as well as fielded 1,000's of emails for those in my district and the majority of those who contacted me were opposed to these changes as well. I will have my office release an "official" statement in the next day or two. I thank you in advance to your understanding."
It is nice to see clear contrast between who in the Democratic party is representing us here in Milford, and who is representing themselves and their personal beliefs.
Photo of Gayle standing next to two armed soldiers, her hand Grabbing the rifle of a wounded soldier.

Saturday, February 16, 2013

Top Milford Democrat Indicted on Conspiracy Charges

Federal authorities disclosed Friday that they have indicted three more lawyers and real estate professionals in a multi-million dollar real estate fraud that left a trail of blighted housing in New Haven.

The superseding indictment charges mortgage originator Andrew Constantinou, 56, of Unionville; attorney Genevieve Salvatore, 41, of Milford; and attorney Lawrence Dressler, 46, of New Haven, with conspiracy and fraud offenses.

The three are tied in the indictment to a series of mortgage frauds that prosecutors said were orchestrated by Menachem Yosef Levitin, 27, of New Haven. The fraud cost banks $10 million in losses and involved more than 50 mortgages on numerous rundown, residential properties that ultimately were abandoned.,0,6812225.story

Photo of Milford's Fallen Democrats
To the Left is Barbara Lambert, she made national news as the Solitaire playing State Rep. From Milford.
Dick Roy (Retired after being Gerrymandered out of his district)
and The newly Indicted Ms. Salvatore.

Saturday, February 9, 2013

Milford Sets Snowfall Record!

The storm news came to me, like most people it was background news. Yesterday we saw the snow start to fall and after I left work around 2:00P.M. the wife and I stopped by the Milford mall for some last minute shopping. When we arrived the shop owners already started clearing out, and after getting some lunch at the food court I was instructed by my server that the Mall was ordered closed at 5 P.M. due to the coming snow storm.

The wife and I called Stop and Shop and we headed there since they were still open, and we did some last minute shopping to shore up our supplies in the event the power went out. Fortunately, and as of today there were no reports of any power losses from my friends and family who live in different parts of town. 

We returned home, and like most people I clutched the remote control and tuned into the local weather stations to get a fix on the coming storm. By all accounts the prevailing theme was that we would have about 12-24 Inches of snow. For the most part this seemed manageable and like some of my neighbors I started shoveling snow early.

The next day when I woke up, to my amazement my entire neighborhood was buried in snow right up to the top of the mailboxes. We had over Three feet of snow, far more than what the weather channels predicted. While I hear several comments all the time about the weather I usually side with those predictions that call for rain only to deliver sunshine with a passing cloud. This time they were way off, overly conservative in their predictions and after recruiting my neighbor to help bail me out I now have snow banks in my driveway that are about Seven feet high.

Thankfully, and I do feel lucky, I had a good friend with a terrific snow blower, and after several hours of hard work I was able to finally leave my driveway. This was shortly after the Governors Driving ban was lifted at around 4:00P.M. today. What I saw while driving around town was an amazing disaster! There were big rig trucks stuck on I95, people walking all over the streets, cars stuck in snow banks that were abandoned, countless homes buried in deep snow and many town roads that were still un-plowed.

On wheelers Farms Rd. I watched a Four Wheel Drive Ford Truck with a plow on it attempt to push a snow bank out of a residential driveway. The snow was deep and thick from the City plow piling snow in front of the driveway and this high horsepower truck stopped dead in its tracks as its wheels spun hopelessly. The job of clearing these homes was getting done, but from what I saw it was among the most challenging endeavors our Plowsmen have come across in a long time. There were, and still are many residents out there who are holding these liberating Plowsmen as the bringers of freedom.

My travels were short, I actually got stuck myself on Cherry Street tonight for a few short minutes, and that was an experience that convinced me I did enough sightseeing for the evening. So I headed home and connected to Facebook. There I saw some of the most historic and amazing photos posted by my friends. I soon learned from news links that CT got hit the hardest in the entire affected area. Milford was the record setting town for snowfall in CT at 38 Inches of snow!

Seems like after two terrible deluges and windstorms in the past 18 Months, Milford now has the honor of adding this latest weather anomaly to its list of challenges. Part of me is starting to think that mother nature is mad at us or something, however I know that is not the case and this is really more about being in the wrong place at the right time.

Today's blog is to immortalize this latest record snowfall, because I do not think we will ever see this much snow drop all once in a very long time. So I included a picture that was made available on FB that best captures what I saw. I would also love to hear any of your experiences and frustrations with Milford's emergency preparedness and your thoughts on the coming weeks forecast predicting more snowfall mid-week.

Photo of the Seven Seas in Milford, CT

Saturday, February 2, 2013

Balance Sheet Disaster...Rookie Mayor Ben Blake Raises Milford's Property Taxes Again.

Milford continues to slide down the list of the most heavily taxed cities in CT. Although we are not a Hartford or Bridgeport with Mill rates ranging from 50 to 70, well... all you need to know is that we keep growing Government in Milford, and our Rookie boards, Commissions and Mayor are making the same costly mistakes of their predecessors. With Apx. 73% of the City balance sheet now liabilities (SEE CFR STATS) we can expect "A lot less for a lot More" and if you think I am kidding just compare Milford to our close neighbor right across the Housatonic river. Shelton, a town near Sikorsky Aircraft, has a Mill Rate that is nearly 1/2 of ours. What are our inept leaders doing wrong? Personally I think its absolutely everything, but mostly I believe our reliance on the bad advice of out of town consultants, combined with pressure from local union leaders with a financial interest in Milford is a large part of the problem. To make a case in point one just needs to look at the New Haven Ave. Firehouse constructed at a cost that was five times more than any other auxiliary fire department, however Blake in his experience was convinced by the former Fire Chief that this was a "Good Idea" and voted to appropriate a multi-million dollar initial appropriation of which included hundreds of thousands of dollars for blue prints, all long accusing the Republicans for overspending a few hundred dollars on office chairs. This however pales in comparison to the effect of those forces tapping our local treasury. Blake has made several feeble attempts, or in his words doing his "best" to reject any policy that responsibly abates organized labors dependency on the public financing. The Unions and special interests in Milford have clearly demonstrated they have an inappropriate relationship with our Mayor, and in my opinion their long history of keeping well financed and locally entrenched candidates in key city positions prove this beyond a reasonable doubt.

Truly Challenging years are still ahead, and I think we should go easy on Blake for now. We can hardly blame a person because he tries his "best" and does not get the desired results. Perhaps he is getting bad advice from his staffers, however,  I believe charisma and a sincere effort is less than what the people of Milford deserve. To borrow a phrase from the movie "The Rock" with Nicholas Cage and Sean Connery, I am getting a bit exhausted with the excuse that Blake is doing his "Best""losers always say they are doing their best! Winners court the prom queen!" and Milford has yet to see that from Blake and his latest Tax Hike.

Wednesday, January 9, 2013

City Balance Sheet Dilemma! Blake Proves Worse Than Richetelli

FACTS DO NOT LIE! Milford Republicans prove themselves as less irresponsible than Milford Democrats. The Graph below demonstrates that when it comes to eroding the city balance Sheet, Mayor Ben Blake has topped all previous records held by the previous kleptocrat Jim Richetelli. The city is not yet bankrupt because we still have more assets than liabilities, but we are well on our way with Blake "the snake." I predicted some years ago that under the present trends the city would be in big trouble around 2014 at the latest, because that is when (under the present trends) Milford would have depleted its entire asset base. Every good accountant will tell you that when you have more Liabilities than assets you have a negative net worth or in other words you are bankrupt. This makes borrowing more difficult and creditors grow concerned about a responsible plan whereby the city can balance not only its budget but its books. This often results in a massive spike in property taxes, credit downgrades and a decline in services. The future of Milford looks bleak with this administration we may want to think about a change come next election. 

To see the graph click the link:!/roccofrank.milfordindependents