IS IT TRUE? August 8, 2011 Special Evening Edition

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IS IT TRUE? August 8, 2011 Special Evening Edition

IS IT TRUE that the downgrade of the debt of the United States caused a bit of a panic at the stock market today and that the words of President Obama only accelerated the slide in stock prices?…that the one thing that did not seem to get its price chopped by the debt downgrade was the debt that was downgraded?…that it looked as though investors were exiting positions in American companies to stick their cash into American debt?…that there was even discussion among the so called “financial elite” that many of the companies that are considered “bellwether” stocks actually have much lower bond ratings than the USA?…that these businesses do not have armies to back up their collection power?…that some folks will ask “just what on earth does this have to do with Evansville”?…that is in the next paragraph?

IS IT TRUE that in the middle of a discussion regarding how to price additional risk into debt and stocks as such risk is created a discussion that is most applicable to the Evansville IceMen and the Arena was touched upon?…that this discussion centered on just how illogical it is to increase the interest rate on the debt of a business that is growing rapidly and struggling with cash flow?…that the agreement was that what may be good for the debt holder (or leaseholder) in the short term may just destroy them in the long run?…that forcing the IceMen to pay more when less people attend is exactly the same as raising interest rates on a business that has marginal cash flow?…that if the City of Evansville wishes to be seen as competent in financial matters and as a good partner for future tenants or events at the Arena, they must assume some of the risk associated with playing in a $128 Million venue?…that if the eyes of the world were on the Evansville Arena and that if it were a stock that this is one stock that would be dropping like a rock due to instability and counterintuitive financial decisions?

IS IT TRUE if John Kish (Arena Czar) and the Mayor didn’t want Ice Hockey at the new downtown arena then the people of Evansville deserve to know why they spent nearly $2 Million on tubing and condensers to establish and maintain an ice surface in the new Arena?…that this floor ice system shall stay intact in a frozen state through most of the year even when basketball is being played above it?

IS IT TRUE our that one of our “MOLES” working for the state tell us that Indiana State Board of Accounts shall be conducting a 2010 “State Audit Exit ” interview with key members of the Weinzapfel inner circle on this coming Tuesday between 9:00 to 11:00 in the morning in the Mayors conference room? …that we hear that the 2010 State Audit should be an interesting read?

IS IT TRUE that if the Weinzapfel Administration was serious in talking with the Evansville IceMen Hockey management team then why did he allow the Arena Czar John Kish to go on vacation this week? …this would be a great time to allow Evansville City Councilman John Friend, CPA and Budget Chairmen, At Large City Councilmen Curt John, Attorney and 1st Ward Councilmen Dan McGinn, Attorney to sit down and talk directly with the “IceMen” management team to hammer out an agreement that both parties can prosper with? …that this is a great example of why the Mayor has made financial and legal mistakes time and again because never takes advantage of the free “Brain Trust” that the population of Evansville offers?

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6 COMMENTS

  1. Could anyone give some insight as to when the one of the hotel proposals will be selected and annouced? Any information would be appreciated.

  2. “IS IT TRUE if John Kish (Arena Czar) and the Mayor didn’t want Ice Hockey at the new downtown arena then the people of Evansville deserve to know why they spent nearly $2 Million on tubing and condensers to establish and maintain an ice surface in the new Arena?…that this floor ice system shall stay intact in a frozen state through most of the year even when basketball is being played above it?”

    I’m going to throw this out there…..a rumor I heard the other day, that there was a problem with the coating (epoxy I believe) that is applied to the floor to seal it from the ice, it is rumored that the contractor is on his 5th or 6th try to get it applied and for it to adhere properly, like I said just a rumor. Any of the moles have more info?

    • The truth is that in construction of any facility of that size and complexity, there are many unexpected challenges to overcome, particularly with materials meeting specs or being compatible. So, what’s the big deal? Truth is the contractor responsible for applying the epoxy coating will have to get it right, stand by it, or legally assign fault to the supplier or architect. Next non issue.

    • No mole information on the coating. As using an ice arena for other kinds of non-ice events is standard operating procedure all over the world, we would like to assume that it can be reproduced in Evansville. This really is an area where there are plenty of things to just copy to get correct.

      • Editor: tell those moles to get their heads out of the sand and do some investigating . . . oh, wait, they are SUPPOSED to have their heads in the sand, burrowing little rodents !! I also hope the moles will not be blind to the facts . . . oh, wait, they’re SUPPOSED to be blind, eyeless little snoopers !!

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