Next Mayor of Louisville Must Have Financial Background (5/13/10)
We have eight Democratic candidates for mayor. The truth is, they are not all equal. There are only three or four viable candidates in the group and they separate themselves from the pack in terms of education, experience and accomplishments. Of the four, only three have any real business experience, only two have elected experience in Metro government and only one has a financial and accounting background.
Why is that last point important? In Crit Luallen's recently released audit of the city's finances, she said the report was so bad because many of the city's financial people lack formal accounting and finance training and that many were promoted beyond their skill levels. It is critical that our next mayor be able to shepherd those people.
Each of the top four Democratic candidates are good smart people and each brings something unique to the table. But in light of Crit Luallen's report, it must be noted that of the top four Democrats, Jim King is the only one with a successful financial background as an accountant and banker. That is an important distinction. As an example of how we benefited from that experience, it was Jim King alone who saved taxpayers over $100 million on financing for the new arena by knowing what questions to ask and what answers to accept.
Think about that on Tuesday.
I'm Bill Lamb…and that's my Point of View.