Florida Keys News - Key West Citizen
Thursday, March 7, 2013
Bank to end schools contract
Asks district to OK less interest

First State Bank, chief banker for the Monroe County School District for 18 years, has served notice that it intends to terminate its current three-year contract effective March 19.

In its place, the bank proposes to "amend" the contract, decreasing the amount of interest paid to the district from a floor of 1.05 percent to .50 percent.

The decision, whi...

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There must be someone in FL

who can manage that much money. Really.

Just tell First State bank.... See U later, I'll take my money

elsewhere! If the Spotswoods don't want to support the school system and our students, then we won't support them. By the way all their children have graduated from Monroe county school system and are already through college. Their kids are through,so to to H...LL with all the children that precede them!

Can't make sense of your statement

Did you know that the word "precede" means "to come before" ?

Frist State Blows

Frist State made a big stink when the school district went out to bid. They expected to be above the bidding process becuase afterall they have been wining & dining superintendents since Bookie. The district had competitive banks ready to pay a higher return but the district choose First State- well the joke is on the district now, and all of us who will have to make up the hundreds of thousands the district will loose from First States antics. Boycott First State!

Be sure to thank their Royal Highnesses

Next time you see a member of The Spottswood Royal Family, be sure to thank them for screwing our schools. The lowly serfs will make up the difference with higher taxes. Now, in the interest of being a concerned Citizen, I will tell the school district to put the money in Ally Bank 5 year CDs. The rate is currently 1.59 percent and if you withdraw the funds early, you only pay a penalty of 60 days interest. The other option is to use this cool thing called "google" and put "best saving rates" in the little box and just like magic, you will find many options better than the generous overlords Spottwoods are offering. Of course, with such a simple solution you would not justify the many staff people who will be asked to research this, but I have offered you this advise for free. (And these people are in charge of teaching our kids!?!?)

C'mon man

I see you still playa hatin. Sure you can get higher rates but fail to look at the fees involved etc. You probably fed the locals to invest with your fellow libtard Bernie Madoff. What interest are you getting, or are you tapped out?

Royal Highnesses

Why don't you stop hiding behind your crazy nickname and walk into the Supt office and offer up you service. Sounds like you may have a lot to offer the school district. Shut up and step up.

Apples to apples...

It's not really fair to suggest that the school should get a five-year CD rate on an account that they deplete twice a year. Shopping on line for savings and checking account rates isn't really realistic either, since many of those accounts have introductory rates and limitations that are geared more towards consumers. The school board announced that they will be going out to bid, which is the process required by law.

Thank You

Thank you for having the one cogent response to my post and for not resorting to name calling or some form of ghetto wanna be babble. I understand the required bidding process. My post was a tounge in cheek attempt to shine a spotlight on the fact that one of the most wealthy, powerful families in The Keys needs to screw our schools out of 1 percent interest. This is a family that receives a great deal of special treatment by our Government. For example, the multi year planning approval extension on their plans to remake the entrance to Key West into a Boca Style Convention Center. Other Citizens would be laughed out of City Hall for even asking. My comment was an attempt to show that there are much better deals out there, yet this local family seems to feel they need to squeeze our kids. Many of the other comments above my original one seem to indicate others feel the same way. By the way, I respect the business this family has built and believe they deserve their success. I just don't think you thank you fellow neighbors and the community that offers you many advantages by squeezing our kids for a point of interest.

and by the way

Don't think that at least a couple of that family's children didn't get a little special treatment while they were in the local school system.

You better believe they did!

It's funny how at a graduation ceremony many of the "made up" scholarships go to the "well connected families".

Criticism is warranted.

The Spottswoods have benefitted as much from governmental largesse as they have from having been in the right place at the right time. The combination has allowed them to create a vast fortune, the scale of which has not been seen in the Florida Keys since Henry Flagler.

It is disappointing that they have yet to accept the wisdom reflected in the quote, “To those whom much is given, much is expected.”

Their decision to terminate their banking agreement with the school district is a business decision which I understand. They aren't really squeezing the kids, they are squeezing the taxpayers. I agree with you, however, that they have yet to establish themselves in the philanthropic arena to the extent that many great businessmen have and continue to do.

Double Talk

So what is ghetto babble? Now that triple six proves to be a stereotyper, you an armchair QB who loves to tell people how to spend other peoples money instead of putting in your own "fair share", and like to tell others how to run their business. Yes you a playa hater...You cant even tell yourself to type the family's name you supposedly respect. Oh yeah, the diff is .55% and not 1%. Musta been home schooled. Now give a couple dollars on the next Tag Day. Alls yalls need to shut up or put up when it comes to Keys kids. Im just sayin.

Thank you, Matt. But...

If you read the cool stuff called "fine print", ("Google it"?!;) you would see that the maximum balance on those high interest rates is somewhere south of $50,000.

Fortunately, the MCSD doesn't take YOUR advice too often, and so they still have more than $50k to worry about. You know what they say about free advice... Btw, sorry you're not one of the staff people (even thought it's painfully obvious you'd like to be.) Most organizations want to hire team players, not wolf-crying, anti-semitic chicken littles.

Hmmm

Well, my name is not Matt, there are jumbo CDs without the limits and at these rates, I have no desire to be on any staff, I am not anti semitic (where did that come from?). Always fun to see the intelligent debate Key Westers are capable of.
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