Thursday, July 23, 2009

Pacers Pay Tinsley $10.7 Million To Go Away; Simons Send Bill To CIB

The Indiana Pacers made a horrible business decision in signing a multi-million dollar contract with bad boy Jamaal Tinsley. Now they're paying him $10.7 million of the remaining $14.7 million payments due under his contract. Tinsley has been banned from the team since last season for being a bad boy but has still been getting paid by the Pacers. You can see more about Tinsley's off-court antics as a Pacer player here, here and here.

The Indianapolis City-County Council is now considering an ordinance to raise hotel taxes, to siphon off more state tax revenues and to borrow money from the State of Indiana as part of a $25 million a year bailout plan for the financially-troubled Capital Improvement Board. The Board has already announced it plans to give an additional $15 million a year subsidy to the Simon-owned Pacers because the billionaire Simon brothers claim they are losing money on the franchise. The CIB bailout resolution will be heard by the Rules & Public Policy Committee on July 28 beginning at 5:30 p.m. in room 260 of the City-County Building.

Chew on that, Indianapolis City-County Councilors, as you consider this latest tax, spend and borrow scheme. Look your constituents in the eyes and convince them this is something you must do to save 65,000 hospitality jobs. Good luck.


M Theory said...

Gary, you remember how I can smell fear, right?

The councilors are terrified of this. Think about it. All of this mess ends up on their laps.

I don't believe that a bailout tax increase will fly with our councilors. My gut tells me that they think it stinks too.

I also believe that without you and Paul Ogden constantly beating the drum against the CIB, that the outcome would be different.

(I was called a "sex worker" over on Frugal Hoosiers by an anonymous poster for saying something nice about you. That can only mean that you are effective.)

More than anything our city councilors need to hear from us with a positive message. That message is that we have their backs if they do not increase taxes to bailout the CIB.

They don't have to fear the Republican party bosses if they don't bailout the secretive CIB because The People (R's, D's, L's, and Independents) will give them cover.

Citizen support across party lines is much more powerful than any party boss!

Our councilors also need to repeatedly hear the message that The People want a full forensic audit of the CIB!

artfuggins said...

It is worth twice that amount to get rid of that thug Tinsley!!!

guy77money said...

I won't be sad to see him go but I don't like my tax money used to boot him out of Indy!

Downtown Indy said...

So does the PSEG 'bailout' ratchet up to $25.7M now?

Paul K. Ogden said...

Actually there won't be any loss of those hospitality jobs at all. It's just more scare tactics.

M Theory said...


Come to the CIB bailout public hearing on Tuesday night (7/28/2009) at City Hall on Market Street across from the City Market. It starts at 5:30.

It's already being leaked that several city councilors are against the bailout. Those good guys on the council need our public support and encouragement.

Sign up to speak (they usually give you 2 minutes) and let it be known that the prudent thing to do is to order a forensic audit of the CIB that has operated in near secrecy with our money for at least a decade.

Thanks to relentless bloggers like Gary Welsh, everything is set up for the party bosses to fail to get their bailout money for their sports billionaire legal clients. All we need is for citizens to show up to give the final punch that knocks down their game.

Signs to bring:

Never forget that the biggest fear of the party bosses is public exposure.