IS IT TRUE January 14, 2013
IS IT TRUE the Centre has been absorbing operation losses as long as there has been a Centre and without respect for whether or not the Executive Inn was sitting next to it or not?…the CCO has obtained the operating financial statements for the Centre for the years 2006 – 2011 and there is not one year in that entire 6 year period that there were no operating losses?…During the years of 2006, 2007, & 2008 when the Executive Inn was more or less in decent shape, Roberts Stadium was the place for big shows, and the Ford Center was still a glimmer in Mayor Weinzapfels’s eye, the Centre lost $680,045, $565,350, and $672,399 respectively?…that in the years 2010 & 2011 when the Executive Inn was gone the losses at the Centre were $598,732 and $502,806 for an average operating loss that was slightly less than when the Executive Inn was there to support it?…an odd thing happened in 2009, the year that the Executive Inn was falling into disrepair and construction of the Ford Center was getting going?…in 2009 with a partial hotel and no Ford Center the Centre only lost $170,035 scoring its highest revenue in any of the years and its lowest operating loss?
IS IT TRUE that in the Centre’s location in downtown Evansville and considering the past financial performance the only logical conclusion is that the presence of a convention hotel had somewhere between no effect whatsoever and a slightly negative effect on the financial performance of the Centre?…we then wonder how one could reach a conclusion or even a delirious dream that building a hotel will matter much to the losses at the Centre?…we also wonder why debt service is not included when public facilities are evaluated for financial performance?…with an average operating loss of over $500,000 per year and a $30 Million or so debt to service the taxpayer’s of Vanderburgh County (owners of the Centre) have in reality been absorbing annual losses of closer to $2 Million per year?…given the size of the debt that must be serviced to keep the Ford Center payments current we expect the Centre will be a much better financial performer as its debt burden is only about one-fourth of the debt on the Ford Center?…we would love to see the increase in tax receipts in other businesses that are tangible as opposed to speculative to really understand what we the taxpayers are getting for what may well be a $10 Million per year shortfall?…it would take an incremental retail bubble of over $100 Million per year to make up for that with sales taxes?…there is no evidence period to support any assertion of an increase in property values so that argument is right down the drain?
IS IT TRUE we are saddened to learn that Schmidt Photo will be closing its doors after nearly a century of serving the people of Evansville?…to those who have frequented the place this comes as no surprise because the friendly staff has been sharing that possibility for some time?…this is a sign of the times as digital images seem to be replacing film?…we would like to thank the Schmidt family for many years of good service and wish them and their staff well in the next stage of life?
IS IT TRUE that the two articles by and about Mayor Lloyd Winnecke and the continuing hotel saga do indeed have one thing about them that are telling?…that telling thing is that the fellow who ran for Mayor of Evansville on the twin pillars of collaboration and transparency has gotten pretty “I†assertive as opposed to “we†assertive in his choice of words?…the word “we†is used in the context of “I want you to see things my wayâ€, while “I†is clearly used in taking credit for the perceived achievements in the same way his predecessor Jonathan Weinzapfel used the “I†word?…this transformation from real collaboration into an authoritative politician is not a favorable one?… this is what has gotten Evansville into the mess it faces today?