The latest skewed article from the “objective” Seattle Times completely reverses the Monorail agency’s numbers. In its story “Report Warns Monorail Finances are Risky” the paper writes: “Monorail brochures this week say a 10-mile line would take 31 years to pay off if growth is 5 percent, and 38 years at 6.1 percent.”

NO. It’s exactly the opposite: the brochure says: The monorail would take 31 years to pay off at 6.1% and 38 years to pay off at 5%.

This may sound like nitpicking, but in a debate that has been about the details (especially about these exact MVET growth rate details), this is significant, and it’s important for the Times to do accurate reporting.

The agency’s 5% estimate is what the city has demanded. The SMP did it and came up with a completely reasonable bond payment schedule—one that city code endorses (although not hypocritical mayor Gridlock.) The Times misrepresentation makes it look as if the SMP is trying to fudge the numbers. The Times mischaracterization also makes the 6.1%, the SMP’s preferred option, look like the worse choice.

But I guess I shouldn’t expect much from the Seattle Times when their lead article on the monorail—the day after the agency released a finance plan that brings the $11 billion down to $3.9 billion—plays up the negatives. Jesus, the SMP cut costs by 64%.