Let's see if I have it straight: Under the new socialist order at City Hall, a deal is only a deal if Mayor David Miller and his band of pro-waterfront, anti-business sycophants say it is a deal.

It is perfectly fine to renege on an agreement passed three times by two previous councils and expect business interests who've invested money in good faith - based on those very approvals - to fold their tents and walk away.

And when those business interests don't simply swallow their losses, taxpayers in this city are the ones being wronged. (They are, of course, but it was Miller and his council who picked this fight.)

Oh yes, our new mayor was sure laying on the self-righteous indignation yesterday at the news that Regional Airline Holdings Inc. president Bob Deluce has served the city with a $500-million-plus lawsuit.

"It's outrageous, it's absurd, it's ridiculous ... I think it shows that this private business person is trying to hold the residents of Toronto to ransom," said Miller, adding: "The people of Toronto have spoken and he should abide by that."

In a 17-page statement of claim, Regco alleges, among other things, that the city and its politicians - by voting to kill the $22-million fixed link to the Island Airport - breached a contract and acted both negligently and in bad faith.

It also alleges that the city abused its power by advising "city staff that their continued employment would be dependent upon the successful achievement" of his agenda; by interfering with the issuance of federal permits and by instructing Toronto Hydro to "interfere with construction of the fixed link."

"That's nonsense," Miller said in response to the more serious allegations.

The lawsuit should be no surprise, even if this cash-strapped city (already in the hole by $344 million this year) can ill afford it. Deluce gave council and CAO Shirley Hoy ample warning.

It's to be expected that someone who invested money based on council's commitments to the Island airport deal would want to protect their investment, even if council's smug socialists seem to think otherwise.

Were councillors so carried away on the winds of change blowing through the council chamber on Dec. 4 - when the brand-new council rammed through the decision to kill the bridge - that they weren't worried about potential lawsuits?

If this is a sign of things to come with Miller and Co., and I were the feds or the province, I wouldn't give these clowns a penny.

When I suggested to the mayor that the cost to defend the lawsuit will be more than his prediction of "very little" (as he put it to the Sun's editorial board prior to the election), he said: "It may indeed, but it's just transparently absurd what he's (Deluce) claiming."

For his part, Deluce said Regco wouldn't be launching the lawsuit if it was frivolous.

"We will be pursuing it vigorously," he told me yesterday.

Asked about Miller's contention that he is holding the city "ransom" with his lawsuit, Deluce said: "When council breaches contractual obligations with a third party, there are ramifications."

New councillor Mike Del Grande, who voted against killing the bridge, said he thinks the lawyers are going to collect "a lot of toonies."

Coun. Denzil Minnan-Wong feels the statement of claim is "very serious.

"It's Mayor Miller's lawsuit ... any costs that flow can be attributed to Mayor Miller because he told the people of the city of Toronto there wouldn't be any costs associated with this," Minnan-Wong said.

Miller, however, said he thinks the people of Toronto are "going to be as outraged" about the lawsuit as he is.

Oh, Mayor Miller, they'll be outraged alright. They'll be outraged, in my view, that you've potentially exposed a city already swimming in red ink to millions in legal bills - just to keep your Island and waterfront pals happy.