I am sure Mayor Bloomberg has the ability to run this city like it was his own business (“New York’s $105B Pension Timebomb,” Susan Edelman, PostScript, March 21).

If he does, New York could show a profit and not be in the situation it is today.

The city is in a big hole. Bloomberg must change things now before the hole gets deeper.

Bloomberg should get rid of pensions and then get workers into a profit-sharing plan. He should reward workers only if they produce and save money for the city. Today, NYC employees are rewarded regardless of if they are good or bad workers. Their pensions are too high and, if change is not made soon, the city will go bankrupt.

Martin Blumberg, Melville

A Bloomberg spokesman was quoted saying: “If there is an expense that could one day bankrupt the city, it’s the pension funds.”

The Post reports that a large percentage of the public labor groups (not including teachers) retire on 3/4 tax-free disability pensions. Many of those pensions are greatly increased by excessive overtime in the last year of work.

Attorney General Andrew Cuomo recently announced that the practice of using overtime to “pad” pensions has been going on for decades and is the focus of a comprehensive investigation.

Padding salaries with overtime and such high percentages of disability pensions are obscene abuses of the pension system that have contributed to the enormous costs and draining of the pension funds, while city leaders do nothing. In fact, under Mayor Rudy Giuliani, cops were eligible for pensions based on half their last year’s salary, enabling this abuse to be worse. Now New York City has a major crisis that will require John Q. Taxpayer to pay even higher taxes.

Manny Martin, Manhattan