IS IT TRUE APRIL 28, 2017

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IS IT TRUE our discovery and exposure of the losses incurred by the City of Evansville golf courses and pointing out that running a loss on golf courses is subsidizing the sport of the rich has raised some of our reader’s levels of awareness of this idiotic governmental practice?…one particular reader who was in a position to provide is with the number of rounds played per year took issue with our call for a $20 increase in green fees?…we appreciate the scrutiny as our estimate was just an estimate?…the reality is that there are between 50,000 and 75,000 rounds of golf on these courses in given year?…given that information and using an average loss of $200,000 per year, the CCO would like to amend our call for each round of golf to cost $5 more starting immediately?…if use remains the same, this $5 increase should not only cover the losses but allow the Parks Department to start to accumulate about $50,000 per year to rebuild a positive fund balance making the golf courses profitable and sustainable?

IS IT TRUE that at Monday evening City Council meeting the GM of VenueWorks/Ford Center stunned those in the audience when he stood in front of the Council and gave the impression that he wasn’t concerned about the Evansville Thunderbolts making a profit?

IS IT TRUE it looks like VenuWorks General Manager could use a crash course in profits and sustainability since he stood before the Evansville City Council and repudiate the profit motive?…it is still shocking that anyone who is on the payroll of a for profit company could even think such absurd thoughts, unless of course he is operating a company with no risk of loss challenges?

IS IT TRUE that the members of ERC Board and Mayor Winnecke are discredited when they contactually insulated  VenuWorks from the risks and rewards of the free market by letting the TAXPAYERS cover their losses is just wrong?

IS IT TRUE  we wonder if you can tell us whats wrong with this picture?  …the Evansville IceMen paid $10.000 per home game?  …they played 36 home games and paid the Ford Center a total of $360,000  for the season?  …the  Evansville Thunderbolts per home game cost was  a mere $1,000 per game?  …the Thunderbolts played  for 28  home games?  …the Evansville IceMen paid the Ford Center of $360,000 and the Thunderbolts paid the Ford Center $28,000 for the season?  … the  differential between the Thunderbolts and IceMen payment to the Ford Center for home games rental was a whooping $332,000?  …now can you tell us what wrong with this picture?

IS IT TRUE we wonder if anyone has heard the rumor that VenuWorks annual operating expense report didn’t include utilities costs at the Ford Center?

IS IT TRUE that downtowns all over the country and especially in the Midwest were literally executed by suburban shopping malls?…Washington Square was the downfall of downtown Evansville as a shopping destination?…Eastland Mall relegated Washington Square Mall to a lesser status and these days online shopping and drone deliveries are killing the malls?…the days of brick and mortar retail for routine items is dying like the dinosaurs and nothing is going to stop it?…this may open a short window of opportunity for unique boutiques and restaurants that gravitate to old downtown districts for a while?…there may be a short term illusion of success with boutiques, but long term it is going to be an online shopping world and everybody in a position of risk knows it?

IS IT TRUE we wonder how the city is going pay off the $129 million bond note that was used to build the Ford Center if the facility is losing money every year?

IS IT TRUE we wonder why the mainstream media hasn’t taken the Ford Center/VenueWorks  General Manager to task for his unacceptable remarks about profitability?  …we thought members of the main stream media were fiscal watchdogs for our community?

Todays “READERS POLL” question is; Are you pleased that City Councilman Justin Elpers requested that the Manager of the Ford Center update Council on the current status of the Thunderbolt hockey team?

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10 COMMENTS

  1. I want to applaud VenuWorks for being able to operate the Ford Center without Utilities. That is quite an accomplishment, but ticket prices should be reduced if fans have to shine flashlights towards the basketball court and bring our own coffee cans for, you know . . . . .

    • I too applaud the magical Venuworks. Their sorcery is of a very special kind. We got a glimpse behind the curtain again the other day. The arrogance of Scott Schoenike standing there making remarkable statements to the clowncil, unencumbered by the very thought of giving the taxpayers of Evansville anything at all for their money, was astounding. These folks shouldn’t get a pass on this thing, born of desperation and an expensive failure at public expense from its hatching, but they will.

      What say Hall, if anything at all? How about Lloyd Winnecke, he appears to ignore his contrived hockey team falling apart around him. He should at least send Schaefer up to give some kind of accounting. His chief of staff was the one making the initial presentation to the public when the failed Thunderbolts were birthed. If a tap dance will fix the problem we’re in good shape. We’ve got several down there with happy feet.

      Roll the monster trucks into the Fraud.

    • What do you think an arena that seats 10,000 consumes in energy? I looked around and won’t be surprised if the utilities are a million buck a year. A 2,000 seat semi pro hockey arena similar to Swonder reported a $420,000 utility bill. Evansville has higher rates and more volume to heat and cool.

      How on earth can any qualified business person exclude utilities from a profit and loss statement? That is business 101 and these guys don’t even get that. Every kid who mows yards has enough sense to know that gasoline is an expense.

    • thought you would see gdp is slowest in three yrs and obamacare repeal failed again but no

  3. Is it true brick and mortars are still more profitable to run then online stores? I would say the malls will evolve to multiuse blds. as has washington square. It has a stable daytime customers with St Vincent’s and packs them in at TJs at night. Medical services and bars were not even thought of when it was built. Only retail. Has anyone checked to see if venuworks is a non profit?

    • VenuWorks of Evansville LLC is registered in the State of Indiana. There is no record of this LLC being granted non profit status. The president is Steven Peters of Ames, Iowa. The registered agent is Scott Schoenike.

      The parent company in Iowa forms independent LLCs for each venue they manage. That is their business. They manage venues for a fee under contract. They are for profit. Ford Center is the venue they manage for the owner that I believe is the Evansville Redevelopment Commission. Any interest they have in a profit for the venue would be spelled out in the contract they have with the ERC.

      Bottom line. VenuWorks seeks a profit from management fees. The performance of the Ford Center is on the taxpayers. It is sort of like hiring someone else to manage rental properties for you. They can make money while you lose money.

      Too bad for the taxpayers that the promises of positive cash flow of 2006 turned into nearly $10M per year in losses. When are the Rush and Metallica concerts? Wasn’t it big acts that would never play at Roberts that was going to ring the cash register? VenuWorks never made any of those promises. The promises were made during the Weinzapfel Administration and based on a study by the Chema Group.

  4. Raising the 18 hole fee by $5.00 on the City courses to create a revenue surplus makes so much dam sense it is doomed to failure.

  5. Golf is not the “sport of the rich”. The “rich” play golf at Country Clubs. The average Joe plays at the City courses.

    • Then average Joe can pay $5 more to assure that his place to play is not shut down. For the cost of a happy meal golf will be sustainable.

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