Santa Ana mayoral candidate Alfredo Amezcua has been complaining endlessly about job creation and the state of the economy here in Santa Ana. But how did Amezcua fare when he became accountable for millions of investor dollars, when he started the Santa Ana Business Bank?
Take a look at the chart above. It would appear that Amezcua’s shareholders lost close to half of their investment. Grandpointe Capital paid them $5.96 in cash per share, according to a press release dated June 18. Their shares were initially valued at $9.75 when the Santa Ana Business Bank first opened for business.
The same hubris that led Amezcua to believe that he and a Board of Directors with ZERO experience in banking could succeed in that industry now applies to his mayoral race. He says he can do the job, but can he? Will he run the City of Santa Ana the way he ran his bank?
I criticized Amezcua and his bank when they opened. I said it was bad timing and I was right. Here is what I wrote:
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That is a bank. How about a City without reserves, city hall closing, city employee layoffs. How does that fare?
Ron,
You sound like Alfredo Amezcua. All complaints…no solutions.
Nice try. Where are your solutions? Sucking up to him is your solution? Or maybe start out by having a reserve policy plan. How does that fare?
Ron,
No amount of plans could have foreseen what would happen as a result of the Bush Recession. Our State is broke and it is showing.
Pulido has supported a number of development projects this year that will create thousands of jobs for our residents and add to our tax base. Amezcua? He is opposed to all that development.
Again, where is the policy for that much needed reserve? Development tax can anywhere.
Ron,
You’re not making sense. What does “Development tax can anywhere” mean? It sounds like Amezcua-speak.
Pulido said tonight that he is negotiating with the public employee unions to reduce our budget shortage. That is good news.
Art, maybe Pulido can start saving the city money by returning the car allowance and the health care allowance that he gets elsewhere. That would be a great start.
Vote the Bums Out,
I am sure he will be considering all options.
BTW, did you know that the guy who was running Al’s bank allegedly was driven around in a chauffered Escalade?
Oh yeah, professor. Should have known, it is coming from a guy that won an election because of his superb writing skills.
What did he say? Any plans for a reserve? Again, development tax can be tranferred from one place to another and not necesarily to the reserve pot.
Ron,
All I ask is that you at least try to make sense in your comments.
As for this tax issue, I am unconcerned about that. The issue is JOBS. We need them and Pulido has been successful in securing a ton of them.
Amezcua? Again, he seems to be against everything. And tonight he was there at Com Link. Once again he had nothing to say. Perhaps he is still trying to come up with some ideas? Maybe we should sponsor a contest to send him some ideas he can call his own?
Hector,
It is quite simple actually. Pulido and the Council majority are doing what we want them to do – and they tossed the Usual Suspects out of City Hall.
Why should I oppose them when they are working with us?
Amezcua, by comparison, is working with the Usual Suspects and with Janet Nguyen. No thanks!