Windy, Bobby,
Thank you very much for representing the Mississippi Gulf Coast at the gccf meetings. The WLOX 3pm online report was sketchy on plan details. We very much support compensation for a 25% loss in 2010. That would just about match '07 and '08 incomes. We would most definitely hope that the term "hourly wage" refers to hourly wage plus tips, as reported to the IRS by our payroll departments. We expect this would be for our eight months of losses in 2010. The real rub involves the factor "x 2" for Final Claims. Does anyone really believe that our health, our environment, and our economy will be back to normal with no further ill effects at all by August of 2011? Our part-time hours are down. Our snowbird count is down. Tourism can't be expected to rebound to '07-'08 levels while oil and health concerns remain in the news and in reality. Long term health effects and seafood effects are just now becoming apparent. Alaskan fisheries are not yet back to levels of twenty years ago. We are thinking that a full three to five years might more closely begin to be appropriate for Final Claims. Please work hard for a "x 4" to "x 6" factor.
As I have pointed out before, the crux of this matter starts at the top with a hoarding mentality. The Sun Herald's AP report of Feb 4 attributes to Ken Feinberg "He has not committed to spending the entire $20 billion and has suggested previously that as long as he does his job there is nothing wrong with the idea of money being returned to BP." It is VERY wrong to even think about returning any of this money to BP. Again, this money does not belong to gccf or Mr. Feinberg. This is not government money we are taking from each others' pockets. This is not even really bp's money anymore. This is a fund strictly allotted to the recovery, rebuilding and stimulation of the economy of the greater Gulf Coast. Every single dollar should be spent for that purpose. The committment must come from the top to spend every last penny.
Thanks again,
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