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March 30

March 30, 2010 --

Deal: Complaint part of political conspiracy Telecom, PSC bills survive Earthlink to pay $3.7M to settle suit over early termination fees Casey Cagle may have some explaining to do Homeless liaison’s salary under fire Audit clears Gainesville schools of wrongdoing

Audit: MARTA made $15 million from risky AIG-backed leaseback deals

November 2, 2009 --

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.