IS IT TRUE? August 5, 2011
IS IT TRUE that the City of Evansville is joining the negotiation with the IceMen through the use of the Courier and Press to forward their position that the Arena’s needs for cash take a superior position to the IceMen’s need for a good business model?…that what the Icemen have been offered is essentially a deal that if they do poorly with attendance that they have to pay more but that if they exceed expectations that they will pay less?…that this is a formula to kill an emerging business?…that if things go poorly they have to pay a higher amount for rent but if they do great they get a break?…that anyone with a shred of business sense would shake their head and just say “give me a breakâ€?
IS IT TRUE that what is needed to help the IceMen grow is exactly the opposite of what the brilliant minds working for the City of Evansville have concocted?…that if ticket sales lag the IceMen need a big break?…that if ticket sales go better than expected (or should I say than the City projected) that the IceMen should pay more?…that we really are starting to wonder what is it about a win-win scenario that our community leaders just do not understand?…that if the IceMen win Evansville should win too?…that if the IceMen suffer at the box office then Evansville should share in the losses?…that we wonder if the deal between the City of Evansville and the IceMen is a partnership or a dictatorship?…that Ron Geary is a seasoned businessman who knows about win-win relationships?…that he is right now in the middle of a negotiation with a collection of simpletons that have never earned a dollar of private profit based money in their lives?…that the City County Observer would like to be a fly on the wall when Mr. Geary tells these guys where to stick this one sided, uncompromising deal that he has been offered?
IS IT TRUE that the leaders of the City of Evansville need to go back to some 8th grade class when the concepts of the free enterprise system and capitalism are taught?…that as long as municipalities elect leaders that know little about the practice of business that they will suffer the consequences of having decisions made and deals put together that would be more at home in the former USSR that they will ever be in a capitalistic society?
IS IT TRUE that there is another situation brewing down at the McCurdy that will reflect very strongly on the lack of business savvy that our Evansville Redevelopment Commission and Mayor Weinzapfel have agreed to?…that we are in the final stages of securing the details of the mortgage situation with respect to this historic property?…that a mortgage on this property is held by the City of Evansville on this property?…that another mortgage is also on the property and that a prominent bank on the Evansville skyline is the mortgage holder?…that the title was transferred to City Centre Properties after the City of Evansville incented CCP with $800,000 in cash and a $603,000 parking lot?…that about a year after the nothing down deal with public money footing the deal that City Centre Properties took out a private mortgage on the McCurdy Hotel in an amount that is larger than the incentive of the City of Evansville?…that if the contract that is now expired is rescinded and a foreclosure proceeding is pursued that the City of Evansville may get absolutely nothing back if the loan that the city holds has been subordinated to the paper held by the prominent bank?…that this arrangement could take years to work its way through the courts, could end up in an auction that brings less than the private mortgage, leaving the City of Evansville out $1,403,000 and with no hotel to show for this inept little exercise?