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Shreveport cronyism: Mayor's new plan woefully underinsured city assets
Posted on 4/17/19 at 11:55 am
Posted on 4/17/19 at 11:55 am
Shreveport's new mayor, elected in November instituted a new insurance plan for city assets in what he called an effort to save the city money. What happened instead was that he handed the plan to a broker who was a donor to his campaign and the cousin of his campaign manager. The new plan has Shreveport paying $190,000 more than the previous plan at a 94% reduction in coverage.
When the city auditor uncovered it and took it to the council, the Mayor refused to show up to the emergency meeting and sent his CAO to defend it. When the broker was pressed by the City council he admitted hes never handled a municipal insurance policy before.
LINK
LINK
LINK
When the city auditor uncovered it and took it to the council, the Mayor refused to show up to the emergency meeting and sent his CAO to defend it. When the broker was pressed by the City council he admitted hes never handled a municipal insurance policy before.
quote:
Shreveport is facing a major insurance crisis. Currently the city has only $50 million dollars in property coverage. Last year, we had $800 million dollars in coverage.
Mayor Adrian Perkins decided to change companies shortly after taking office. His goal, as he explained earlier this year was to lower costs and bring in more minority participation. Well we are finding out this new policy with the Frost Company will actually cost substantially more for far less coverage.
LINK
quote:
The Auditor notes that Shreveport has $815 million worth of insurable assets – think of our $92 million Independence Stadium, $85 million Convention Center, $55 million Hilton Hotel, etc. – but only $50 million in insurance coverage.
Yes … $815,000,000 in assets and $50,000,000 in coverage.
In 2018, when Arthur J. Gallagher & Co. still handled Shreveport’s insurance, we paid $555,000 in premiums to insure ALL $815,000,000 in assets.
Now, with Perkins’ pick, Frost Insurance of Dallas, handling our insurance, the city pays $745,000 in premiums, insuring only $50,000,000 in city assets.
Yes … Shreveport is paying just under $200,000 per year MORE in insurance premiums to insure only 6% of city assets.
quote:
On point for Frost, in context, is Rod Sykes.
Sykes is said to be the first cousin of Joshua Williams. Williams is Mayor Perkins’ close friend, was his campaign manager, and is also a Caddo Parish Assistant District Attorney.
LINK
quote:
Before Monday's public meeting, council members James Flurry, John Nickleson and Grayson Boucher met with Rodrelle Sykes who handled the city's new policy.
Nickelson says,"He did tell Councilman Boucher and Councilman Flurry and myself that he has never brockered insurance for a municipality. Never before. He has not done it one time before Shreveport. My concern about that is that I don't want anybody learning how to be a municipal insurance broker or doing anything at a high level on the city's dime."
LINK
Posted on 4/17/19 at 11:56 am to Lsuhoohoo
Ghetto governance at its finest
Posted on 4/17/19 at 11:57 am to Lsuhoohoo
quote:
The new plan has Shreveport paying $190,000 more than the previous plan at a 94% reduction in coverage.
Posted on 4/17/19 at 11:58 am to Lsuhoohoo
you wanna go to jail?
because that's how you go to jail
because that's how you go to jail
Posted on 4/17/19 at 12:00 pm to SlowFlowPro
"White people been doin this for years!!! It's our turn now!!"
This post was edited on 4/17/19 at 12:00 pm
Posted on 4/17/19 at 12:02 pm to SlowFlowPro
quote:
because that's how you go to jail
I have the Over/Under at 30 days when US Attorney for Western District holds a press conference.
Posted on 4/17/19 at 12:06 pm to Lsuhoohoo
quote:
and bring in more minority participation.
diversity for diversity's sake...
That never results in bad outcomes!
Posted on 4/17/19 at 12:07 pm to SlowFlowPro
Oh and there's this.
LINK
Rod Sykes has been previously cited for violations by the Louisiana insurance Commission for
No municipal policy experience and past violations for fraud, misrepresentation and incompetence. What a choice!
LINK
Rod Sykes has been previously cited for violations by the Louisiana insurance Commission for
quote:
(4) Using fraudulent, coercive, or dishonest practices or misrepresentation, or demonstrating incompetence, untrustworthiness, or financial irresponsibility in the conduct of business such as might endanger the public.
(5) Misrepresenting the terms of an actual or proposed insurance contract, binder, rider, plan, or application for insurance, including all forms or documents that are attached, or will be attached, to an actual or proposed insurance contract, binder, rider, plan, or application for insurance.
No municipal policy experience and past violations for fraud, misrepresentation and incompetence. What a choice!
This post was edited on 4/17/19 at 12:09 pm
Posted on 4/17/19 at 12:12 pm to Lsuhoohoo
The honeymoon has been over. A lot of independents and conservatives voted for him to oust Tyler. His inexperience at best, corruption at worst has reared it’s head on multiple things in only 4 short months.
Posted on 4/17/19 at 12:19 pm to Lsuhoohoo
Clearly the mayor needs to go, but wouldn't City Council have to have approved this?
Posted on 4/17/19 at 12:24 pm to mmcgrath
quote:
wouldn't City Council have to have approved this?
Nope. For some dumbass reason, the mayor's office has unilateral authority over insurance policies.
quote:
A city ordinance does give the mayor authority to unilaterally choose insurance agencies. But some on the council now want to change that
Posted on 4/17/19 at 12:25 pm to Lsuhoohoo
Wait. Isn’t the Shreveport mayor the young guy that went to Harvard and ad the impeccable resume?
You’re telling me he’s no different than the other slimy mayors throughout the state?
You’re telling me he’s no different than the other slimy mayors throughout the state?
Posted on 4/17/19 at 12:26 pm to Lsuhoohoo
quote:
he has never brockered insurance for a municipality
Can he do math? I haven't brokered any insurance policies of any kind, but I know that
quote:
$50 million dollars in property coverage
doesn't cover
quote:
$815 million worth of insurable assets
Posted on 4/17/19 at 12:28 pm to Lsuhoohoo
I was convinced it was another corrupt kracker, until the spread the wealth to minorities piece. SMH
Congrats lefties
Congrats lefties
Posted on 4/17/19 at 12:30 pm to Lsuhoohoo
Didn't the mayor go to West Point?
Posted on 4/17/19 at 12:32 pm to Eightballjacket
quote:
Didn't the mayor go to West Point?
Whoa, whoa, whoa...
Did no one tell him about the Honor Code while he was there?!
Posted on 4/17/19 at 12:33 pm to Clyde Tipton
quote:
A lot of independents and conservatives voted for him to oust Tyler
I'm one of them. The choices were Tyler or Perkins. I held my nose and voted for Perkins more of a vote of no confidence in Tyler than any endorsement of Perkins. 4 months in and hes lost me.
Whatever it is, incompetence or corruption, hes got to go after a frick up like this. An insurance policy that wouldn't cover even one of the city's major assets in the event of catastrophe? On the extreme end, he could have bankrupted the city.
Posted on 4/17/19 at 12:34 pm to Golfer
quote:
Isn’t the Shreveport mayor the young guy that went to Harvard and ad the impeccable resume?
Yes. Have you heard him speak? He makes the average LSU football player sound like Demosthenes.
Posted on 4/17/19 at 12:36 pm to Brummy
quote:
Did no one tell him about the Honor Code while he was there?!
Clearly we need to update our understanding of this "Code" they seem be be honoring...
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