tag:blogger.com,1999:blog-12703782.post1731001728660274165..comments2024-03-25T13:42:25.771-05:00Comments on Advance Indianaâ„¢: IBJ: Kenley Bailout Plan Numbers Don't Add UpGary R. Welshhttp://www.blogger.com/profile/15185079937305083438noreply@blogger.comBlogger12125tag:blogger.com,1999:blog-12703782.post-42006210634879756572009-04-11T20:18:00.000-05:002009-04-11T20:18:00.000-05:00Instead of putting another tax on Indiana resident...Instead of putting another tax on Indiana residents why doesn't someone propose a luxury tax on the HUGE wages the "athletes" are paid.<BR/><BR/>Most of them certainly do not spend their spoils in Indiana.I knowhttps://www.blogger.com/profile/14837535454387104930noreply@blogger.comtag:blogger.com,1999:blog-12703782.post-32120753845072046712009-04-11T19:17:00.000-05:002009-04-11T19:17:00.000-05:00I can see no benefit to the taxpayers of Indiana f...I can see no benefit to the taxpayers of Indiana for the current situation re the Capital Improvements Board (which has turned out to be an oxymoron).<BR/><BR/>Throw the bums out -- Colts, Pacers and the CIB!Hoosier in the Heartlandhttps://www.blogger.com/profile/07049824713120857184noreply@blogger.comtag:blogger.com,1999:blog-12703782.post-88454024527327850352009-04-11T17:03:00.000-05:002009-04-11T17:03:00.000-05:00The current situation with the CIB is due to the a...The current situation with the CIB is due to the arrogance of our leaders and the overt influence of the sports owners. If anyone in the government did even a cursory study of arena and stadium finances they would have found that contrary to the opinions expressed by the teams that isn't any evidence that building an arena or stadium benefits the local economy. In fact just the opposite is true, the local economy suffers because monies that could be committed to other uses is consumed by the teams rather than the community. To add salt to our wounds we further exacerbated the finance problems by allowing the teams the vast majority of the revenues that are generated. And most damning of all, our leaders under the guise of 'development' allowed all of this to occur without any taxpayer input until everything was a fait accompli and then in their arrogance crowed about what a great deed had been done.Jonhttps://www.blogger.com/profile/09490253182039581408noreply@blogger.comtag:blogger.com,1999:blog-12703782.post-87935186455975409972009-04-11T16:29:00.000-05:002009-04-11T16:29:00.000-05:00Advance Indiana. There is another fine example of ...Advance Indiana. There is another fine example of contracts written so lopsided that the public and the taxpayer will never see any positive results of a contract meant to protect hard working people.<BR/><BR/>It is not surprise at all. Even the State of Indiana allows wealthy folks to write their own lucrative one sided contracts. Their campaign contributions and positions on State Committees allow them that right.<BR/><BR/>The system in Indiana needs an enema!!!I knowhttps://www.blogger.com/profile/14837535454387104930noreply@blogger.comtag:blogger.com,1999:blog-12703782.post-72119233521911670082009-04-11T16:12:00.000-05:002009-04-11T16:12:00.000-05:00Not so funny.Its a wonder Irsay still gives campai...Not so funny.<BR/><BR/>Its a wonder Irsay still gives campaign contributions. I'd say his work is done.jabberdoodlehttps://www.blogger.com/profile/12773449819475280421noreply@blogger.comtag:blogger.com,1999:blog-12703782.post-78391936981138410792009-04-11T15:48:00.000-05:002009-04-11T15:48:00.000-05:00Gary, have you seen a signed version of the Colts ...Gary, have you seen a signed version of the Colts contract? What I have out of the Star's database isn't signed.<BR/><BR/>I read the contract the Star had. It is so one-sided as to be shocking to the conscience. I'm not ever sure if CIB had anyone negotiating on the public's behalf. The Colts, writing the contract themselves, couldn't have made it more lopsided.Paul K. Ogdenhttps://www.blogger.com/profile/16137003328850866711noreply@blogger.comtag:blogger.com,1999:blog-12703782.post-64529440505027338662009-04-11T15:18:00.000-05:002009-04-11T15:18:00.000-05:00Want to hear something really funny, or not? The l...Want to hear something really funny, or not? The lease agreement gives the Colts the right to receive audited financial statements from the CIB. If the CIB files for bankruptcy, the Colts can terminate the lease. If the CIB wants to assign the lease to the owner of the stadium--the State of Indiana--it has to get the Colts' consent, which it can withhold "in its sole discretion." On the other hand, the Colts have a lot of options for assigning its ownership interest without asking for the CIB's consent. The lease is replete with one-sided agreements favoring the Colts. There is absolutely nothing in that damn lease for the benefit of the public, not even a fucking funding clause that always accompanies such government contracts. If somebody levies what the Colts consider to be a "discriminatory tax" on them, the CIB is obligated to reimburse the Colts for the cost of the tax. It just goes on and on and on like that.Gary R. Welshhttps://www.blogger.com/profile/15185079937305083438noreply@blogger.comtag:blogger.com,1999:blog-12703782.post-32270544470487559342009-04-11T14:53:00.000-05:002009-04-11T14:53:00.000-05:00Isn't Luke Kenley positioning himself to run for g...Isn't Luke Kenley positioning himself to run for governor in 2012????artfugginshttps://www.blogger.com/profile/05364503656694166926noreply@blogger.comtag:blogger.com,1999:blog-12703782.post-83888087903143998842009-04-11T13:14:00.000-05:002009-04-11T13:14:00.000-05:00Does the Colts contract have that clause for sure?...Does the Colts contract have that clause for sure? Would such a clause pinpoint who had the authority to pull that plug?jabberdoodlehttps://www.blogger.com/profile/12773449819475280421noreply@blogger.comtag:blogger.com,1999:blog-12703782.post-35123412044870022712009-04-11T09:17:00.000-05:002009-04-11T09:17:00.000-05:00Also, I've dealt with government contracts for yea...Also, I've dealt with government contracts for years. Almost without exception, the government insists on a funding clause that allows the government to unilaterally terminate a contract without penalty if appropriated funds aren't availalble to meet the government's obligations under the lease. Clearly, the CIB does not have funding to pay for LOS. The lease for the Colts could be cancelled and renegotiated by the State of Indiana on terms the taxpayers can afford.Gary R. Welshhttps://www.blogger.com/profile/15185079937305083438noreply@blogger.comtag:blogger.com,1999:blog-12703782.post-81792995209567231842009-04-11T09:06:00.000-05:002009-04-11T09:06:00.000-05:00I'm just fine with that comment, jabberdoodle. As ...I'm just fine with that comment, jabberdoodle. As I've said before, the state should assume control of LOS. If it thinks Irsay shouldn't have to contribute to its operating expenses, then let the state pick up the tab. The state owns the stadium, after all.Gary R. Welshhttps://www.blogger.com/profile/15185079937305083438noreply@blogger.comtag:blogger.com,1999:blog-12703782.post-75457603832505241312009-04-11T08:56:00.000-05:002009-04-11T08:56:00.000-05:00I know you won't like this comment....But, the evi...I know you won't like this comment....<BR/><BR/>But, the evil Bart Peterson ensured the election of Greg Ballard by pushing through his evil income tax hike. That hike saved Mayor Ballard's bacon in trying to balance the 2009 budget, despite candidate Ballard's confidence that there was $70 million in fluff and his calls for Peterson to cancel the tax hike.<BR/><BR/>AS for the CIB bailout, I agree with you that the numbers don't cover the full request. <BR/><BR/>But, I fail to see why the taxpayer should cover, for example, a presumptive increased obligation of $15 million in a not-yet-conducted negotiation with the Pacers. That need not be the direction of the negotiations.<BR/><BR/>I fail to see why the Governor and Legislature, who were happy to take the pork part of the stadium and convention center expansion project out of Peterson's hands, shouldn't pony up the dough for the operating balance shortfall. <BR/><BR/>And, I fail to see why Patrick Early, Douglas Brown, Anne Dillon, Jay Potesta, and John Short, have not been summarily fired by whoever appointed them, for their vote to move forward with the building project knowing full well there was not enough income to cover the operating expense. That would be a small measure of accountability.<BR/><BR/>Although it is so very late in the discussion, Ballard is supposed to unveil a plan next week. Hopefully for Indianapolis and its taxpayers, it will be a great plan that doesn't raise any taxes, holds folks accountable, and does not sacrifice our much troubled City budget to pay for the CIB shortfall.jabberdoodlehttps://www.blogger.com/profile/12773449819475280421noreply@blogger.com