MARTA’s risky venture into complicated leaseback transactions with insurance giant AIG and others has turned a $15 million profit, at least so far, state auditors said today. Dozens of U.S. transit agencies took part in the leaseback deals, which offered a profit for MARTA and a tax shelter for the investors. The deals seemed safe until AIG lost its AAA credit rating a year ago, leaving MARTA on the line to pay termination fees that could have totaled hundreds of millions of dollars.
Guy Riekeman made a healthy $318,038 in 2005-06 as president of Life University in Marietta. But he’s done even better for himself since then, earning more than three-quarters of a million dollars in 2007-08.
Secret Atlanta bond deal led IRS to middleman financing in the dark Flood maps still don’t match reality Is government’s foreign student tracking system in trouble? New mental health director faces difficult task, critics Richmond County schools audit sports spending for fairness
Patricia Pope, DeKalb County schools’ embattled chief operations officer, is officially out as the district’s construction manager, at least temporarily. Officials have insisted Pope is still the system’s COO even as a criminal investigation of school construction programs has ramped up. Pope may still be COO, but a new interim construction boss, Barbara Colman, is named in a proposal to be presented tonight to the DeKalb Board of Education.