On the other side of the State Line there has been and EPIC financial reality check.
To wit . . .
GREATER KANSAS CITY AREA TEACHING MOMENT: BIG ECO-DEVO PROJECTS THAT DON'T PAY OUT LEAD TO FINANCIAL RUIN!!!
Here's some pretty great reporting on this topic from publisher Nick Sloan . . .
Kansas City Kansan: UG 'on brink' of bond rating downgrade
And then . . .
Money Quote: "Unified Government Commissioners were warned Thursday night that a bond rating decrease could come at any time if Wyandotte County continues on its current financial path."
Now realize that Kansas City's economic strategy isn't so much different and, in fact, The Legends is a lot more successful than our tragic and mostly empty party places.
Developing . . .
Legends is rocking! KCMO... not so much.
ReplyDeleteThe problem with all these bond issues for private development is that by the time the bonds are about paid off and money begins to become available for actual public projects like street repair, some other big-time dreamer will big plans and no money comes along and the bonds just get rolled into the next project.
ReplyDeleteAnd the ublic gets to wait another 20 years for promises to be fulfilled.
Which shell is the pea under?
So much for Hollywood casino, the racetrack, and Legends saving their ass.
ReplyDeleteThe UG was simply a ruse to pass the financial burden of the inner city off onto the citizens of Bonner Springs and Edwardsville. It created a myth that gave WYCO some breathing room but with punks like Maddox and pussies like Holland the scam has been exposed for all to see.
ReplyDeleteLet's get some things straight folks. The Legends was in bankruptcy for years. The great and wise, bought and paid off boys and gals in Topeka approved the same people to buy it back. The county lost $40+ million on the deal. 6:64 has explained how it's done. Wyandotte County is one big lie.
ReplyDeleteLook out!!! Pensions will be hit first. Holland and Annie M. do not have to survive on one pension so they'll be the ones to push for reform with a heavy hand. Maddox was kept in so he can agree with them. See how it works in old KCK. Screw all the little people and let the dreamers steal us blind.
ReplyDeleteI drove out to Legends the other day to check it out. Had never been there. It was a weekday. There were cars in the parking lots, but when I walked into the complex, it was like a ghost town. Guess they were all watching movies or something. Place like that must have a big theater or two. Weekdays are slower, but this was beyond slow. All I saw was chain-store eateries. I stopped for (pretty bad) coffee in one of them. I was the only customer. Wasn't otherwise tempted to spend money at Legends. Must be very busy on weekends, since it's still in business.
ReplyDeleteFirefighters and city workers be prepared for the 401 scams they are going to push down your throats. No worries for KCK cops & sheriffs. They have their own pension plans.
ReplyDelete12:03 you're using the same math calculations our city sheep down at city hall use to determine the success of the Legends. Number of cars in the parking lots = success. It's never been a success - not ever. Smoke and mirrors mathematics. Let's bail out another bankrupt company Mr. Hays. Oh, that's right, you bailed out and left us with the mess you helped create. Nice job and happy retirement. You won't be missed.
ReplyDeleteIf you have a business and do not have to pay your fair share of taxes and utilities, you could stay in business too.
ReplyDeletehttp://www.kansascity.com/2012/03/06/3473017/reardon-hopes-to-bring-property.html
ReplyDeleteSame old crap, different year.