CYA Time For Boscov, McMahon, and The Reading Eagle Involving Sidhu

October 15, 2006 by Matt Heckman.

With Jay Sidhu being out of the picture from Sovereign Bank could not have come at a worst time for Mayor Tom McMahon, and Al Boscov as they try to take control of Reading City Council on Monday October 16 when Council will vote to fill the vacant District 5 seat vacated by Donna Reed.

Currently it is a big fight since this appointment will give the power to one of two factions.  Right now these two war rooms are in full operation.  On one side we have the Tom McMahon war room that is working on behalf of Berks County’s #1 tax pimp Al Boscov.  Then we have the Vaughn Spencer war room working on behalf of Pat Mascaro and J.P. Mascaro/MB Investments.

Now if you ask me this Jay Sidhu business has a big factor in this council meeting which is why The Reading Eagle continues to spin it off as if nothing will happen to jobs in the area.  Common Sense will easily prevail in the end by just pointing out some basic facts.

First the reason the board at Sovereign Bank began to go after Sidhu was because of all the massive pork he was getting the Bank involved with, especially in Reading with the Sovereign Plaza on Penn St.  Now I don’t know about you, but if I have an investment in a company, and that person that is running that company is misusing that money on projects that are not turning profit, then I would be a bit pissed off and sell that stock.

Second does anybody remember over a year ago we had The Reading Eagle, Al Boscov, Tom McMahon, The Berks County Commissioners all begging to do whatever it takes to ensure Jay Sidhu’s spot on the board for the reason of keeping local Sovereign Bank jobs in Berks County, and Reading?  After all the corporate welfare spending that occurred with this venture from the state, county, and local levels it all backfired.  This is what happens when government gets in the way of the natural flow of the free market and capitalism.

Now The Reading Eagle seems to be flip flopping here.  Between the battling war rooms for control of city council, and the fact that Mayor McMahon is up for reelection next year is a double whammy for the established elite in Berks County.  Now don’t get me wrong, the Sovereign Bank jobs will not go away overnight, but no doubt we will begin to see them relocated, phased out, or whatever within the next few years as the new leadership at Sovereign begins to look more into Sidhu’s dealings, and I’m willing to bet we will discover more things hidden in his closet down the road.  In the end as people loose their jobs here they will be looking at McMahon, and The Reading Eagle betrayed thinking that their jobs were safe.  No doubt the Eagle’s spin job is just a delay until Tom McMahon’s war room can find somebody to put the blame on.

Now I know Stefan Kosikowski will be at the meeting on Monday, and the only thing I can say to him is that everything I just talked about is a big factor in this, and I hope he brings this up to council.  The can is open and the worms are beginning to slowly come out with Sidhu, Boscov, McMahon, The Reading Eagle, and all of the rest, and council will have a mess on them in the next couple of years.  That is why McMahon in no way should have his lackeys running city council.  As for Sidhu I predict that we have not heard the end of this.

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