http://www.postandcourier.com/article/2 ... ls-protest" onclick="window.open(this.href);return false;In a story about cities facing financial strains, The Wall Street Journal identified Charleston, in a chart that appeared online, as having zero cash on hand to pay its bills — giving Charleston the worst ranking on a list of the nation’s 250 largest cities....
Charleston in fact has large cash reserves and top ratings from credit agencies, but online, comments about Charleston’s apparently dire financial condition and links to the charts were quickly picked up on Twitter, Facebook and other social media, with a number of people comparing Charleston to bankrupt Detroit.
Here's the WSJ link:
http://online.wsj.com/news/interactive/ ... 0077670894" onclick="window.open(this.href);return false;
The disconnect between what The Wall Street Journal reported and the financial reality in Charleston is rooted in a quirk of the city’s budget. It’s correct that the city’s annual financial report showed zero cash in the city’s general fund on Dec. 31, 2012, but it’s equally correct to say the city had more than $43 million on hand at the time.
Riley said that’s like considering how much money is in a person’s wallet while ignoring their bank accounts.
Well played, Grandpa Joe. I wonder how many other cities aren't being accurately portrayed.