Interesting article in the South Florids Sun-Sentinel about cities racking up humongous charges on their credit cards in order to get big rebates from the credit card companies:
port St. Lucie is paying for a $24 million turnpike interchange and bridge on credit, getting $125,000 in cash-back awards, officials said. Davie bought $330,000 worth of defibrillators for the fire department on credit, earning a $1,650 cash award, said Herb Hyman, Davie's procurement manager. However, Hyman couldn't convince a company to take plastic for a $400,000 fire truck, which would have netted the town about $2,000.
It's a pretty neat idea for saving cities money, although I could turn Port St. Lucie on to a few cards giving better than the half-percent cash back they're getting now. They could be doubling their money!
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Merry Christmas and a Happy New Year 2007!