Sunday, December 16, 2018
NEWSFLASH!!! NEW KANSAS CITY AIRPORT MATH DOESN'T ADD UP!!!
Actually, our blog community has been asking many of these same questions AND we've been talking about the 4-BILLION dollar number before anybody . . . However, this post is DEFINITELY worth a look because it accounts for the fuzzy math put forward by the #BetterKCI crew.
Save KCI: Would You Underwrite This Loan?
"If one divides $4.38 billion evenly over 35 years, that’s roughly $125 million in payments per year. According to the most recent Annual Report, the TOTAL operating revenue before expenses of the Aviation Department in 2018 was $128 million. Less operating expenses of $82 million leaves a profit of $46 million before amortization, etc.. Deduct those expenses and add in non-operating revenues, the Aviation Department netted about $36 million."
"How does one make a $125 million payment with $36 million? This question is seemingly beyond absurd but in several calls to people much smarter than I, in positions to both know and slap me in the face with the explanation, I’ve received essentially, “I don’t know.” So I’m going to put this out there and invite someone to show me the obvious that I’m missing."
You decide . . .