IS IT TRUE that the CCO is sad to report that the Karges Furniture Company that began operations in Evansville in 1886 has laid off nearly the entire staff leaving only a skeleton crew to fill the final orders before ceasing operations?…Evansville has very few companies that are the world leader in their field and even though many local people could not afford it, Karges has supplied dignitaries, sheiks, and aficionados with high end hand-made furniture that was designed and made in Evansville for over a century?…in a day when local governments are in the business of handing out cash incentives to schemes and call centers it seems as though nothing could be done to save this city treasure of a legacy business?…we shall surely miss this business and wish the workers Godspeed in finding new employment?
IS IT TRUE that while there is sad news on West Maryland Street there are some reliable MOLES that tell the City County Observer that there are some details emerging from Mayor Winnecke’s choice on which developer should be the recipient of the Largesse of the City of Evansville when it comes to getting some corporate welfare?…that the recommendation will be that a 270 room hotel with a price tag of between $27 Million and $32 Million will be made by Mayor Winnecke?…the package will also include a STORAGE Building at a cost of $6 Million that should have been included in the Ford Center budget and has no business in the hotel or the Centre’s cost?…there shall also be two walk bridges that will cost in the neighborhood of $3.5 Million each included?…a parking tower with a price tag of $5 Million is also on the Valentine’s Day wish list?…street improvements in the range of $2 Million to $4 Million will be required to make all of these things work well together along with a maximum tax abatement of 10 years to the chosen developer?…the tab to the public to make this investment attractive to the chosen private developer is rumored to be in excess of $40 Million?…that is just about the exact price that former Mayor Weinzapfel announced in 2008 would be invested in a 4-Star hotel without public assistance if only the City of Evansville will build an arena?
IS IT TRUE that is not all that is being sought?…that whatever the equity investment is being proposed by the chosen developer that the taxpayers of Evansville are also going to be asked to grant a permanent subsidy that will guarantee a 10% – 13% return on investment for the private dollars invested in the downtown hotel project?…that with such a financial requirement on the table it is no wonder that Mayor Winnecke at this hour has not invited City Councilman John Friend, CPA to his office for a convincing session?…when a person with a keen eye for numbers looks this over the wheels on this bus are likely to explode before falling off?…it does not take a CPA to figure out that giving out incentives of over $40 Million for a hotel that will be worth $20 Million, guaranteeing an above market ROI, and handing the deed to the recipients of this government largesse is bordering on fiscal insanity?…the actions of Evansville on occasion make the financial actions in Washington DC look frugal?
You guys have a good track record at outing these schemes but I hope you are wrong about this. I do not want to believe that our Mayor is stupid enough to suggest something this crazy. Winnecke is beginning to sound as delusional as Barney Frank.
2 to 1 odds the CCO is right on track with this IS IT TRUE.
I also heard that the Developer the Mayor selected for this project shall be from Branson, Missouri. 5 to 1 odds I’m right on track with this prediction.
How did the city of Evansville end up with two loser like Winnecke and Weinzapfel..these people(that voted for them) must be a special kind of stupid to vote for them..
For starters only 20% or so of eligible voters even bothered to show up and vote in either the 2007 or the 2011 Mayoral elections. Complacency has its price and having unqualified elected officials is one of the costs. Secondly the pool of people who want to run for any of the offices is pretty limited. Half of the City Council couldn’t pass the 8th grade ISTEP test today. Weinzapfel was one of those guys that is just full of himself and loves the spotlight. Winnecke did not seem that way during the campaign but as Mayor he does. Ignorance and arrogance is a fatal combination in a leader. Evansville seems to have a tradition of electing such people. The consequences are all around us.
Weinzapfel as you may remember ran against a dead beat dad that owed money all over town. His opponent could not have been elected dog catcher. Weinzapfel somehow took his 70% margin of victory as a mandate. Honey Boo Boo would have been a stronger opponent.
When is the public going to say: Enough, we are mad as hell and we are not going to take it any longer!
This is government(?) gone mad! Corporate welfare gone berserk! Politicians with a Napoleon complex. This project is Evansville’s “fiscal cliff”. You can not spend your way out of poverty!
SHOW ME THE FINANCIALS THAT SAY THIS CAN BE DONE WITHOUT UNACCEPTABLE RISK!
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Hey press…speaking of financials… Did you see the audit reports for SMG? What do you have to say now?
Karges Furniture Company is the last of the legendary west side furniture outfits. There was a time when several Evansville Companys were at the top of the international game. International steels revolving doors are around the world in the finest buildings Arkla gas refrigerators an air conditioners were world changers. There was a time when we could hold our own with any town. What happened?
What’s going to happen to the Karges assets? Anyone know? Is there an auction coming up?
Good Question.
The Kargess downfall is because if Unfair trade with China. Not because of the past or current
mayor.
No one in China could have bested Karges. What killed Karges was the cost of making the best furnture in the world. No one can afford it any more. When my wife was a child her parents bought her a Karges bed. The quality was impecable. Karges sold their goods all over the United States, and had an excellent reputation for furniture of the highest quality.
Debbie Downer and the city and county politicians all like to toot their own horns and take credit for “creating” new jobs, but they are as quiet as a church mouse when jobs go bye bye.
Tho I have said it before, I will say it again,
I ´m not sure if I´m, looking IN, or OUT, thru the window of “The Nut House” ,when I let all that has transpired IN this community over these past few years in particular,– soak-in.
I must admit,- I´m a little worried.
A nice lady a Karges just informed me they have made layoffs but have no intention of closing.
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