December 19, 2007Merry Xmas to DFJ....Well it seems like the Gang in the Ivory Tower, including the newly re-elected ones have decided to show the citizens of Ventura once again just how much they care about our hard earned tax money of which they keep begging for more.On Monday night, Dec 17, 2007 they voted to hand over $5,000,000 (five million) of our tax dollars to a Venture Capital Firm from Santa Barbara called DFJ Frontier. First off giving money to a venture capital firm is the same as going to Vegas and playing the mega slots. Secondly the $5,000,000 is, or so say the Gang in the Ivory Tower, intended to be used to entice technology-related companies to locate in Ventura. They will do this by offering to give these "start-up" companies money to get started. In other words these aren't even companies that are already established these are people that have grandiose ideas of becoming rich by starting the next Microsoft.The biggest joke about this wonderful idea of the Gang in the Ivory Tower is that DFJ Frontier has already decided that only $1.6 million of those $5,000,000 will actually be used within the boundaries of Ventura. The rest, $3,000,000 the lions share will be used in what DFG has classified as companies outside the Silicone Valley. Now it would appear to me that "Outside the Silicone Valley" means anywhere else in the entire world, possibly even China, or Tim-Buck-Two.The Gang in the Ivory Tower says, because of DFJ's great track record it greatly reduces the risk of money being spent on failed ventures or companies outside Ventura. Excuse me but didn't Countrywide Realty Co. have a great track record too? The Gang in the Ivory Tower made a real profound statement at the meeting. They said that despite city staffing shortage, particularly among it's police and fire ranks, it would be unwise to spend the $5,000,000 to hire more people, because it is one time money that wouldn't cover on going salary and benefit cost.Now as far as I can tell $5,000,000 would have covered the cost of 4 employees at $100,000 per year for about 12.5 years. What with the extra money they will receive from the 911 program and the added utility users tax they could have hired 10 new employees. Bill (Smart Planner) Fulton said ... Hey, plenty of cities pump millions of dollars into stadiums, convention centers, and other things to attract developments that come with no guarantees, so we decided to gamble our money on venture capital games. Christy (Big Hair) Weir said that she voted for giving the money away because it may entice high-wage jobs and new home sales, she is one of the NIMBY'S that worked against the Open 80 plan for the hillsides that would have brought high-wage jobs and new home sales, guess she forgot about that...Rellis Smith

res@venturastuff.com