Wednesday, September 10, 2008

Jet fuel

More on the jet story:
Moreover, because of the unique purchasing terms of the aircraft -- which required the state to make payments amounting to $20,000 per month even if the jet wasn't in use -- the decision not to hire a broker to help sell the property appears in hindsight to have been a costly mistake....By the time she was elected, there were many state items being offered on eBay. As the Anchorage Daily News reported on December 13, 2006, nine days after Palin took office and the day she announced the jet posting, the state was "auctioning 38 items on the site, including three aircraft -- two Super Cubs and a Cessna... Other items for sale included two sets of used helicopter floats ($300) and King Air exhaust stacks ($500)."

Back in 2003, the state sold an old ferry, The Bartlett, for $389,500. As Jones noted in a Daily News article at that time, "it [was] not usual for Alaska to sell big-ticket items on eBay because the site is cheap and has a big audience."

The state jet, in contrast, was not a good fit for eBay. Palin never actually sold the aircraft online (though, unlike John McCain, she never claimed that to be the case). But more important, while the jet sat unsold, Alaska was on the hook to pay $62,492.79 every three months as part of the initial purchasing deal.

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