Columbia County Tax Dollars Fuel a Banker’s Bonus???

You just have to laugh when the politicians in two urban counties down the road resort to hiding videos, switching meeting times, and cutting debate time in half to thwart an old busybody and his gang of reformers. Their latest trick play came between Tuesday May 6 and Thursday May 15, 2014 down in Evans. Columbia County has a pledge to post its commission meeting video within 48 hours of its Tuesday meetings, but it took 9 days for this one to see daylight.

Agraynation.com has been in the habit of bringing videographers to ensure that a video record is secured, but in a previous Columbia County meeting Chairman Ron Cross admonished that having video shot was unnecessary because the county provides it with so reliably. Not this time. This speaker had a most unpleasant message and an even tougher question but obviously had no prepared text to post later. Rather than let the explosive video and information out, the administration sat on it.

Metro Spirit reporter Eric Johnson observed and wrote a wonderful piece on the Commissioner Ron Thigpen bonus presentation titled “Collateral Damage.” The title was pure brilliance, because the collateral damage from the Columbia County banking scandal will range far, wide and deep.

Johnson implied that the talk was long-winded, overlooking that it was 8 minutes before a body that allowed 10 minutes until this campaign season began. He was also puzzled. The key exhibits were not shown to the public, because their sensitive nature commanded the decency to allow the Rons, Thigpen and Cross, to respond to the deep concern of this old supporter and friend.

To summarize, the county entered into a mass banking agreement with the Ron’s bank in 2010 after a series of recusals, mystery documents, a vote to allow 2 commissioners to even vote on it, and more irregularity than comes after a trip to a filthy restaurant. About the same time Ron Thigpen, who is President of the bank, got a new bonus that looks to have doubled because of the massive Columbia County money deposited in his bank.

Thigpen Bonus 2010 Change

The media around these parts whines that just about any issue involving money is too complex. This one isn’t. It is third grade math. If you have 1 over 2 (1/2), you double the result if you subtract 1 from the bottom number. That is how Ron Thigpen’s bonus was set up. After Columbia County’s $1 (hundred million) is applied at December 31st of that year, the equity denominator falls to $1(hundred million) from $2(hundred million). Sources of the county monies are an open records response and the bank equity figures are from the FDIC.

When all factors are taken into account, it would appear that the $22,000 cash bonus paid to Thigpen was 2.2 times higher than it would have been without the county deal.

Thigpen Bonus Received 2010

Last week Ron Thigpen was overheard in an ad for Chairman Cross’ reelection saying how “comfortable’ he was with Ron Cross.

We all can be comfortable along with him that fellow bank stockholder Cross did the right thing to enhance their wealth.

Collateral Damage, Mr. Johnson? That was very, very well done! Next up Cat Burglars and Cat bankers – the $12 million heist.

This is Arrowflinger Al reporting on a cloudy day from points west. Stick around for the missing video.

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