Thursday, March 11, 2021

Kansas City Big 12 Tournament 2021: COVID Comeback Or Dead Cat Bounce?!?

Let's start by defining terms.

For those who don't know . . .

A dead cat bounce is a short-term recovery in a declining trend that does not indicate a reversal of the downward trend.

This trend comes from the stock market wherein the smart money takes their profit and/or loses and quickly exits following a precipitous collapse that's NEVER going to get better.

For those of us who call Kansas City our home, this moment demands renewed skepticism and harder work to distinguish real progress from vapid self-serving hype or outright propaganda.

Sure, there's a lot of basketball hope at the outset of this weekend but close readers of this blog have noticed and identified bad news on the horizon.

For instance . . .

The mostly worthless College Basketball Experience is once again threatening to leave downtown Kansas City despite EPIC subsidy.

Money line . . .

"At the end of 2020, the Kansas City Council voted to forgive about $400,000 of a nearly $1.2 million loan to the National Association of Basketball Coaches Foundation for cost overrun during construction of the T-Mobile Center. The city also promised to invest $250,000 in improvements over five years."

And now, some of our more hapless members are council are surprised that the group still wants out of their sweetheart deal. 

Accordingly, we turn to the most loyal readers of our blog community who might also wonder if this town is bouncing back via b-ball or just running out the clock as the downward spiral of this town continues. 

You decide. 

Check the links . . .

KCTV5: Downtown stakeholders see Big XII tournament as turning point

KSHB: KC Streetcar ready to welcome Big 12 visitors for championships

Fox4: Ready to return - Venues across Kansas City announce new concerts, rescheduled dates

KCTV5: Fans excited to return to Power and Light for Big XII Tourney

NBC Action News: From celebrations to cancellations, Kansas City's Power and Light District optimistic about future

WDAF: Hundreds of jobs return to Kansas City a year after 1,000 workers were laid off

KSHB: Where Kansas City businesses stand after a year of COVID-19

Developing . . .

10 comments:

Anonymous said...

The KC kitty has been dead since about 2015. Sorry nobody told you guys.

Anonymous said...

^^^

Good call.

Lulz.

Anonymous said...

was Luickass in a suite tonight?

Anonymous said...

College Basketball is truly the game for morons.

Most of these guys will be working for Enterprise Rent-a-Car or stocking beer cases in grocery stores in a few months.

But go ahead, pay big money to watch them clank missed shot after missed shot.

Anonymous said...

Everybody is running as fast as they can from kc, you know it’s bad when kc has t pay for them to come here and they think it’s no longer worth it to come here!

Third world shithole city is what they think once they get here! Lmao!

Anonymous said...

This just another subsidy by the poor people of KC to wealthier visitors. Once again the Greater KC Chamber of Commerce and VistKC is promoting this scam.

Anonymous said...

the "college experience" deal was never worth it. Cut their funding, we shouldn't respond or negotiate with people who are going to make threats.

Anonymous said...

I am sure you are asking why KCMO gave a $1.2 million loan to the National Association of Basketball Coaches Foundation (NABC)? And why did they forgive $400,000 of the loan? Lovely Councilwoman Melissa Robinson said it was “because want them to stay here in the city”. The NABC responded to the gift by saying “The NABC is currently undergoing a review of its office operations and location. As this process remains ongoing, we do not have any additional comments at this time.”

Anonymous said...

kcmo doesnt have any financial sense!

Anonymous said...

After each and every "deal" that mayors and councils in KCMO make, they leave the negotiations wearing nothing but big smiles and their socks.
Taken for the rubes they are, time after time.
And the financial burden on the taxpayers gets bigger and bigger, as more long-term bond obligations can't be met by the "business" that's been subsidized.
Which means even fewer basic services, as though that were possible.
Which shell is the pea under this week?
Sad.