Philly City Council Kills the Phila. Gas Works $1.86B Deal

corruptionThere’s a reason Philadelphia has the reputation of being one of the most corrupt cities in America–because it is. We have proof. Back in March of this year, after a long, hard process, the Democrat Mayor of Philly, Michael Nutter, announced a deal to sell the municipally-owned (and bleeding money) Philadelphia Gas Works to UIL Holdings Corporation, a Connecticut-based investor-owned gas and electric utility holding company (see Phila. Gas Works Deal for $1.86B – Marcellus/Utica One of Keys). The deal would have injected $424 million into the city’s failing pension fund. It was a win/win all the way around. What did the corrupt City Council do? Diddle around, giving special interests time to mount opposition (see Philly City Council Continues to Diddle Around on PGW Sale). Yesterday the corrupt City Council announced they were killing the deal Nutter, one of their own, worked so hard to negotiate…

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