Public philanthropy, private debts

The Oregonian‘s Business section today carries an article by Jeff Manning reporting that Andrew Wiederhorn (nice factbox right on the O‘s web site) is defaulting on a $1.1 million debt he owes his employer, Fog Cutter. I find this interesting because when we visited Astoria last weekend, I particularly noticed the name Andrew Wiederhorn prominently carved into one of the major donor bricks at the base of the Astoria Column, restored in 1995 through private donations collected by the non-profit Friends of Astoria Column. I wondered then whether the large contribution was by the same man as the one involved in the loss of millions of dollars from union workers’ pension funds. Now, that Andrew Wiederhorn, for sure, is reported to be failing to pay back a $1.1 miliion loan from his company – which is in dire financial straights and could surely use the money to stay afloat and continue employing people, most of whom would never qualify for a $1.1 million loan.

When I posted Who’s paying what for the new park on Block 5 in the South Park blocks, I refrained from linking the Moyer Family Trust, kicking in $1 million, to Hey, rich and powerful people – how about some justice for janitors?. I’m trying to make the “Who pays for…?” posts as clear and objective as possible. But janitors who clean the Fox Tower and 1000 Broadway, two downtown office buildings owned by real estate developer Tom Moyer, are paid $28 per day. Doubtless there will be a nice plaque recognizing the Moyer Family Trust’s contribution, when that park opens, just as there’s a large brick honoring Andrew Wiederhorn’s in Astoria.

Who really pays for such philanthropic donations?