What would you pay for a person who could possibly lead you out of a huge budget deficit? Miami Mayor Tomas Regalado has somehow found a way to pay nothing.
Regalado looked to the banking industry for a little help and the result is Carlos Migoya being named the new city manager. Migoya was once an exec at Autonation and Wachovia Bank.
"At the end of the day we're losing money," said Migoya. "If you're spending more than you're making you're losing money and we got to figure out how to balance this thing and balance it correctly," he said.
Migoya will replace former manager Pete Hernandez, who resigned last week after buckling under the pressure of dealing with the Magic City's ballooning budget crisis.
Migoya said he is looking long term. "We can't be looking at the short term fixes, we got to be looking at long term fixes for the next 10, 20, 30 years."
What makes this all the more interesting is Migoya has agreed to take on the job at no cost to the city. Zip. Zero. Nada.
We're not sure if Regalado and Migoya are all Cub Scout buddies or if Migoya lost a Super Bowl bet, but working for nothing always raises a red flag.
Local
Is this a case of an experienced money maker trying to give back to the community or will this be a case to prove the old adage, "you get what you pay for?"
