San Diego, Inc.

Hey, Matthew: Fact: The City of San Diego is a private, for-profit corporation chartered by 12 men just before the turn of the century. So is it true that there is $7 billion sitting in numbered accounts that are accessed by the heirs of those 12 men? Are the heirs of the charter members still paid a 6 to 8 percent profit that comes straight off the top of all city revenues? This is, after all, capitalism, or is it something else? — Please DO NOT publish my name

If true, this goes a long way to explaining why we don’t have a new city library. But, um, where’ja get that figure of $7 billion? You’ve seen some paperwork not available to me, despite considerable snooping. Could your “fact” be merely a problem easily solved with a dictionary? The incorporation of a city is not the same as the incorporation of a business. San Diego is no T-shirt shop or used-car lot. But on the outside chance you’ve got the documentation, have you heard any rumors about those heirs planning to move the franchise to Tampa or the Jersey Meadowlands? Let us know if they do.