Bird in hand and bush

Gov. Baldacci was correct when he stated there would be no loss to the state from leasing the state’s wholesale liquor business. His detractors forget that the $125 million from Martignetti Co. is a bird in the hand, not paid in installments over the next 10 years. This means that in the next 10 years it will be earning interest or allowing us to forgo paying interest. At percent, this comes to another $125 million.

Thus we get $125 million before the close of the current fiscal year, plus $125 million in interest and $40 million in profit-sharing over the next decade. This is the same as the bird-in-the-bush potential of $260 million in liquor profits over the same period.

Walter Guinon

Lincolnville