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04-20-2013, 10:48 AM
Tortious Beadicus
Join Date: Nov 2009
Location: Bay Area, CA
Country: United States
Posts: 3,211
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Originally Posted by Whileee View Post
Interesting. Maybe that's why I never quite understood the big fuss about spending so much money to "save Westgate" ... I was also puzzled as to why the COG would commit over $300 million to preserve that small cluster of businesses.
The "save Westgate" stuff is just more mindless hyperbole from the mountain of excrement produced by the city on the Coyotes subsidy.

There is simply no evidence that arenas are economic engines to begin with. The seminar at Marquette that generated the Leipold quote offered even more academic research showing that "public financing of sports facilities never generates an economic return". The study " ... failed to uncover a single case of a professional sports team boosting its host community's economy."

Of course, these academic studies are in conflict with the reports produced by consultants that project huge economic gains from teams. But then again, no academic researcher has ever been brought up on federal fraud charges for intentionally misrepresenting arena returns. Whereas, Glendale consultant Tom L Hocking has.

However, from a political perspective, working with a pro sports franchise equals headlines, trips to NYC, and networking with millionaires. As long as you have the moral flexibility of an Ed Beasley and you are spending someone else's money to do it, there's probably some appeal to that. There's no dinner in Manhattan for keeping the public library open...

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