tag:blogger.com,1999:blog-12703782.post7452302481165840059..comments2024-03-25T13:42:25.771-05:00Comments on Advance Indianaâ„¢: Pat Early Doesn't Get ItGary R. Welshhttp://www.blogger.com/profile/15185079937305083438noreply@blogger.comBlogger11125tag:blogger.com,1999:blog-12703782.post-20090529244785193732009-03-19T10:16:00.000-05:002009-03-19T10:16:00.000-05:00The CIB knew it was going to cost more to operate ...The CIB knew it was going to cost more to operate Lucas Oil than the RCA Dome. Originally, they projected those costs at $5 million. Later, the CIB said the costs would be $10 million a year more. Then the figure increased to $20 million a year more. Keep in mind that the CIB is not responsible for the construction costs of LOS. Those costs are borne by the state stadium authority, which funds the bonds through the regional food & beverage tax, inkeeper's tax, car rental tax and state income tax revenues of up to $16 million from the stadium district. The CIB will not assume ownership of LOS until the bonds are paid off. Until then, the stadium authority leases it to the CIB, which in turn leases it to the Colts. Theoritically, the CIB could dump those expenses back in the state's lap and there's nothing the state could do but pay them to keep the stadium operating for the benefit of the bondholders, although the revenues will still be flowing in from the various taxing sources whether the Colts remain in LOS or not.Gary R. Welshhttps://www.blogger.com/profile/15185079937305083438noreply@blogger.comtag:blogger.com,1999:blog-12703782.post-52857475610551386382009-03-19T09:54:00.000-05:002009-03-19T09:54:00.000-05:00I am sorry my response did not flow well. I just ...I am sorry my response did not flow well. I just read it and found several areas I could improved upon. Hopefully everyone understands my points. <BR/><BR/>Can anyone confirm if the CIB did or did not calculate "Operating Expenses" for the Lucas Oil Stadium?<BR/><BR/>Lastly, Mr. Welsh, I actually look forward to reading your blogs each day. You are providing a tremendous service for our community and out of the own use of your time. Thank you very much for all you do!Nobodyhttps://www.blogger.com/profile/16392257741531544951noreply@blogger.comtag:blogger.com,1999:blog-12703782.post-39319378514509984192009-03-19T06:31:00.000-05:002009-03-19T06:31:00.000-05:00Pat Early get's it. He knows he has to keep lying ...Pat Early get's it. He knows he has to keep lying no matter what. There wasn't a grain of truth in anything he said, but that is not going to stop him (and them) from saying it or large segments of the population behaving like lemmings.Citizen Kanehttps://www.blogger.com/profile/17083803017411939029noreply@blogger.comtag:blogger.com,1999:blog-12703782.post-89493056685114699942009-03-18T22:20:00.000-05:002009-03-18T22:20:00.000-05:00Rhetorical Question Time: If the stadium and arena...Rhetorical Question Time: <BR/><BR/>If the stadium and arena business is so great, why didn't the Simons, being in the Real Estate and construction business, not build their own stadium as a private enterprise?Sean Shepardhttps://www.blogger.com/profile/04784017076656340302noreply@blogger.comtag:blogger.com,1999:blog-12703782.post-72400838478019215782009-03-18T21:39:00.000-05:002009-03-18T21:39:00.000-05:00Pat doesn't get it, touting the fact that he has b...Pat doesn't get it, touting the fact that he has been a member of the CIB for 17 years means he is part of the problem. Much like AIG's current image I don't think it is helpful to announce your membership in a group of such dubious distinction.Jonhttps://www.blogger.com/profile/09490253182039581408noreply@blogger.comtag:blogger.com,1999:blog-12703782.post-90995183550423571112009-03-18T21:28:00.000-05:002009-03-18T21:28:00.000-05:00I would personally love to debate Mr. Early as he ...I would personally love to debate Mr. Early as he is trying to protect his reputation instead of doing what's right. I had given a presentation in Noblesville several years ago when our politicians decided to raise our sales tax to support the Lucas Oil stadium. I have read countless articles in regards to public financing of these projects and nearly every analysis I had read, the ROI (return on investment) is marginal and many economists claim that it actually hurts the economy. <BR/><BR/>The question here is based upon the economic factors of production when government takes money from one productive source and gives it to another. The government oftentimes takes a grandiose position in this matter and I'm sure we all remember the words by former Indianapolis Mayor Bart Peterson when he attempted to sell this idea as helping make Indianapolis a "world class city" or the other comments that the new stadium will bring us a Super Bowl. Well, that is just one Super Bowl in 25-30 years and compare that to Tony George's racetrack which brings in 2.5 Super Bowls a year. <BR/><BR/>On another point, I also want to express that if the Colts or Pacers were such a great idea, then why were the people not allowed to invest in them? Why steal the taxpayers monies to fund these franchises for if it was such a great deal for our city they could have easily raised the capital (in stocks) to make it work? <BR/><BR/>Lastly, Mr. Early and the CIB must open up their meetings to the public. We have some of the more established members of our community on this board and they close their meetings to the public. I also am curious how some of these top CPA firms who represent the CIB did not calculate "operating expenses" for this project? I do not understand how they could possibly miss something this important variable as it is a major factor when operating a business. Would anyone buy a car and not assume that they would have buy fuel or have oil changes? Please correct me if I am mistaken in my understanding of where the $43 million shortfall exists.Nobodyhttps://www.blogger.com/profile/16392257741531544951noreply@blogger.comtag:blogger.com,1999:blog-12703782.post-68192041363355668842009-03-18T17:10:00.000-05:002009-03-18T17:10:00.000-05:00Congress is gunning to tax AIG employees 95% becau...Congress is gunning to tax AIG employees 95% because they are getting government funding. Should be the same for anyone that works for the Pacers or Colts.M Theoryhttps://www.blogger.com/profile/01892309818226431745noreply@blogger.comtag:blogger.com,1999:blog-12703782.post-32389466860934167952009-03-18T12:13:00.000-05:002009-03-18T12:13:00.000-05:00I am not aware of any way that the average taxpaye...I am not aware of any way that the average taxpayer can send Pat Early a message...He is not elected......Ballard won agrees with him...we have no way to say that we not interested in bailing out the Pacers and the Simons.artfugginshttps://www.blogger.com/profile/05364503656694166926noreply@blogger.comtag:blogger.com,1999:blog-12703782.post-63259264661221279782009-03-18T09:04:00.000-05:002009-03-18T09:04:00.000-05:00Pat seems to have stumbled upon a 'mighty thin pan...Pat seems to have stumbled upon a 'mighty thin pancake,' don't you think?Downtown Indyhttps://www.blogger.com/profile/06239811599722585898noreply@blogger.comtag:blogger.com,1999:blog-12703782.post-70386271402420085032009-03-18T08:32:00.000-05:002009-03-18T08:32:00.000-05:00We had BETTER get rid of the CIB itself, or the se...We had BETTER get rid of the CIB itself, or the self-serving, non-elected, tax-raising fools that serve on the board.Concerned Taxpayerhttps://www.blogger.com/profile/10952241910289966736noreply@blogger.comtag:blogger.com,1999:blog-12703782.post-85501579119555798862009-03-18T08:22:00.000-05:002009-03-18T08:22:00.000-05:00Three comments:If I were Mr. Early, I would be dis...Three comments:<BR/><BR/>If I were Mr. Early, I would be disappointed the Star included a picture where I wasn't looking the reader in the eyes.<BR/><BR/>I know he was trying to insult Mr. Tully, but his quote could be taken (easily) to mean that Mr. Early was incapable of explaining anything in a cogent manner without resorting to using crayons. Funny.<BR/><BR/>And, problem solved! Mr. Early says it without "getting it". Get out the engineers to design a dome to cover all/most of downtown, then turn the White River into a BEACHWORLD resort complex (complete with faux sunlight lighting). Two birds with one stone! One, we'd have a perpetually sunny beach to appease conventioneers, and two, the Mayor would have his "Chinatown" type attraction.<BR/><BR/>Mr. Early should get to writing that dome RFP ASAP.varangianguardhttps://www.blogger.com/profile/12571595354792261993noreply@blogger.com