The Tribune-Review consistently relies on the Commonwealth Foundation as a go-to source for analysis of the Pennsylvania Liquor Control Board, but the foundation's latest look at the agency, as reflected in the editorial “More LCB propaganda: Kill the monopoly” (Aug. 8 and TribLIVE.com), makes it clear that its analysts know nothing at all about business.
The Trib and the foundation — whose supporters are among the very special interests pushing to dismantle the LCB — chide the agency for showing “negative $9.8 million in assets” at the end of fiscal year 2011-12.
The LCB's shareholders are Pennsylvania taxpayers — not the secret corporate donors the foundation represents. Negative assets shown on the books do not reflect the agency's performance. Had the Trib and the Commonwealth Foundation bothered to look at last year's balance sheet, they would have understood that the negative assets were part of a loan that was booked as a liability and fully repaid.
Had they paid attention to repeated testimony in recent months and years before the House and Senate Appropriations committees — all verified by the governor's own comptroller and the independently elected state auditor general — they would know the facts versus their own “propaganda.”
Wendell W. Young IV
The writer is chairman of the United Food and Commercial Workers Pennsylvania Wine and Spirits Council and president of UFCW Local 1776, which includes 3,000 state store workers.