— Eye on Everett —


Leader Herald Editor Josh Resnek and the mayor’s Blue Suit share stories about Everett and their own lives.


Did you ever lose all your money?” I asked the Blue Suit.

“No,” he answered. “I can’t say that I have. I’ve been taken care of, if you know what I mean,” he added.

“I get it,” I said.

“I was always taken care of by my parents,” I pointed out.

“I never had to worry about anything when I was growing up. I always wanted to do what I wanted to do and my father was OK with that as long as I educated myself. My father and mother believed being smart, above all, was better than being rich or being famous. I was lucky, my father , my uncles, my grandfather – everyone had money and college degrees, businesses of their own and real estate.”

“I wish it had been like that for me,” said the Blue Suit.

“I was born in a sweat shop in Alabama. I was stitched together on a clothing mass production line by a woman making $4.00 an hour. I was put together without much concern for perfection or anything like that – but I was lucky – I turned out OK – a nicely fitted, well put together machine made suit that sold for about $200,” said the Blue Suit.

“The day Carlo bought me off the rack changed my life. I think I changed his life. He doesn’t let me know, but he really likes me. How else can I explain how he has worn me for so many years to so many events?”

We shared a few moments of silence inside my car. We ate sub sandwiches I bought from Chris at Everett Square Deli. Chris’ subs – and pizza – are extraordinary. Each sub is like swollen, tasty treat. The Blue Suit ordered two – a meatball sub with extra sauce and an Italian with everything.

We ate the subs parked in the Walgreen’s parking lot on Broadway.

“Did you ever lose all your money, Josh?” the Blue Suit asked in between bites

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Depositors Give Everett Bank Approval for Conversion To Public Bank

By Josh Resnek

At a Special Meeting of it depositors held at the bank’s main office on May 5, more than 92% of the Everett Bank’s depositors in attendance voted to allow the bank to convert from its charter as a mutual, co-operative bank, to a publicly traded, shareholder bank.

With approximately $700 million in assets, thousands of happy depositors, mortgage customers and small business relationships, commensurate with commercial and real estate growth in the city, the Everett Cooperative Bank, Everett Bank, is going public after 125 years of steady, solid growth.

The show of support from the depositors indicates that there is a high level of confidence that the leadership of the bank is steering the bank in positive direction. Bank management and the Bank’s Board of Directors see this overwhelming vote as an affirmation, by its customers, that this action will serve to strengthen an already strong community Bank.

“I am very pleased and the bank’s Board of Directors are pleased as well at this showing of support by our depositors for the bank’s strategic direction” said bank President Attorney Richard O’Neil.

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Capone riding big momentum

OCTOBER 8: Mayoral candidate Fred Capone greets campaign workers in Everett Square. (Photo by Jim Mahoney)

Calls for audit of city finances if elected

Mayoral candidate Fred Capone said earlier this week that an audit of the city’s finances would be likely when he is elected mayor.

“Transparency at all levels of government is essential particularly when it comes to city finances,” he told the Leader Herald.

“It is crucial to have a thorough and accurate understanding of our city’s financial well-being in order to properly plan for the future. An overall municipal audit following proper accounting procedures seems appropriate. Depending on the findings, a forensic audit may be required,” he added.

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Encore’s Coronavirus problem is even worse than you thought

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The casino and hotel are closed for at least two weeks. (Photo by Jim Mahoney)

City’s finances hanging in the balance

By Josh Resnek

On Saturday, the Massachusetts Gaming Commission voted unanimously to temporarily suspend operation at the state’s three casino properties, including Encore Boston Harbor, MGM Springfield and Plainridge Park Casino. In a statement from the MGC that stated, “In response to the coronavirus pandemic, the decision was made in collaboration and cooperation with our licensees to safeguard the health and well-being of casino guests, employees, and regulators.” Doors closed at 6:00pm on Tuesday, March 15.

The closing of the doors to the Everett casino and hotel is a seismic event.

The city takes in about $30 million a year in lieu of taxes from Encore. If Encore isn’t open, Encore can’t pay. If Encore goes broke, the city goes down with it.

Wynn Resorts, who owns Encore, has suffered almost catastrophic stock losses during the past 25 days.

The price for Wynn Resorts has plunged from about $130 before the epidemic began to about $54 this week. With the stock price plunge comes the company’s market share plunge – that is – what the company’s stock is worth as a measure of what he company is worth.

The market share value of Wynn Resorts was about $14 billion last month. As the week began, its market share value is closer to $5 billion, a staggering $9 billion loss.

Encore shutting its doors here has temporarily furloughed 5,000 employees who it has pledged to pay.

Right now, with no end in sight for the coronavirus, the likelihood of a two week closing followed by another two week closing is odious, and company officials are fearful of this – as we all should be.

Knowing what is real and what is not about the crisis stretches the imagination.

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School Finance Task Force to Issue Report September 4 at City Hall

By Josh Resnek

City hall has announced that the School Finance Task Force will be issuing its report and findings at a joint committee of the School Committee and City Council on September 4 at city hall.

The report is expected to generate possible policy and spending changes.

However, none of the Task Force findings and or suggestions are binding.

The Task Force has apparently used the past 18 months to scrutinize closely all aspects of school spending policy in order to come up with recommendations to save money.

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