And then there's this:
Pittsburgh Councilman Patrick Dowd and city Controller Michael Lamb this morning proposed transferring ownership of city parking garages to the financially strapped pension fund.Now, aside from the obvious flaws (the fact that the Pension Fund runs the pension fund, not garages; the historical mismanagement of the pension fund at that; the asset "swap" for the Parking Authority would be a loss on their books; etc.), the major flaw of this whole plan is that the City isn't thinking broadly enough. There are literally thousands of things that the City could be selling in order to fill up the pension fund:
Mr. Lamb said the proposal was evolving, and it wasn't clear whether some or all of the garages would be part of the deal.
The plan was billed as a more viable alternative to Mayor Luke Ravenstahl's proposal to lease all parking garages -- and potentially surface lots and meters -- to a private entity and use the proceeds to shore up the pension fund.
Or alternatively, as I've suggested before: we take the whole fund, go over to the Rivers Casino when table games open up and bet on black.