With the recent resignation of City Councilman Erik Bethel, the City Council must either appoint a City Council Member or decide to hold a special election to fill his vacant seat by December 30, 2006.
Calling it “an opportunity that only comes once in a lifetime,” Erik Bethel will move to Shanghai to assume the position of senior vice president of corporate finance for ChinaVest Merchant Bank. The merchant bank, established in 1983 by Robert Theleen, Chairman and Co-CEO, is based in Shanghai and is the oldest American venture capital firm in China. It is a “leading investment and development vehicle linking Chinese entrepreneurship with Western capital and partnership.” (For more information, copy and paste http://www.chinavest.com/) or click on post title above.)
On his two year tenure on the Carmel-by-the-Sea City Council, Erik Bethel cited several accomplishments, including balancing the budget and maintaining healthy surpluses, hiring an economic development manager, allowing live music in eating establishments, initiating the “Concours on the Avenue” and a gateway monument sign along Hwy 1.
Despite these accomplishments, it is disappointing that a young man with his background, (i.e. B.S. Economics and Political Science, U.S. Naval Academy, Annapolis, M.B.A. Finance, The Wharton School, University of Pennsylvania, and career experience with Morgan Stanley, J.P. Morgan Capital Partners, Granite Construction and establishing and operating his own private equity fund, Compass Point Capital Partners), did not apply his financial acumen to the city’s fiscal imbalances. Specifically, the structural budget imbalances of an $11,751,301 proposed FY 2006/07 budget, reserves of nearly $10 million and millions and millions of dollars in deferred maintenance, while only proposing $99,794 Capital Improvement Program for FY 2006/07.
Until the core fiscal imbalances of the City are addressed, other so-called achievements are merely changes at the edges.
3 comments:
Advise to Erik: With your future reentry into politics, aspire to be and do more than represent a special interest, in your case business. In government, the ideal candidate is the man or woman who strives to represent ALL constituents; the big picture or holistic approach, not a parochial politician representing one special interest. Parochial politicians are revealed for what they are eventually and we are all diminished by it, earmarks and corruption come to mind. Good Luck!
I for one am glad Erik is gone and I hope he doesn't come back to resurface in Carmel politics. WAY too pro-business to the detrement of everything else. And don't believe that Chamber BS that "what is good for Carmel busines is good for Carmel.) WHAT HOGWASH!!!!!!
Erik was the best thing to come to Carmel in recent history, and I've lived in Carmel for 50 years. He had a refreshing perspective and he actually DID things in the city. I for one was sad to see him go. Good luck wherever you are in China!
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