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I've got my popcorn and my copy of the newspaper. I'll just shut up in this thread and let you guys do the talking.

Link: A few of us told you so...1/21 3:36 PM | IP: Logged
I really don't think anybody cares. I never said you were wrong..just that you quit harping on it. Really, like we could do something about it.
1/21 3:40 PM | IP: Logged

Originally posted by zipp:
I'll just shut up in this thread and let you guys do the talking.


Thanks, but we have our arena.
1/21 3:53 PM | IP: Logged
Zipp what is there ot dream about? OK you were right for now about the TIF but I still think the gap will close for 2012 but you were wrong about UL taking a money hit since they are making more than ever as I predictied.

If the city has to spend more money for a few year so be it. Remember it was the mayor and metro council who wanted it built on the river where they had to waste 100 mil extra to build it. They waste millions on other projects every year that are used by far few people in the community and no I am not talking about basic services.
1/21 4:55 PM | IP: Logged
next
1/21 5:38 PM | IP: Logged

Originally posted by jvolk:
Zipp...you were wrong about UL taking a money hit since they are making more than ever as I predictied...
(See Premium Board thread, Sunshine...)
1/21 6:11 PM | IP: Logged
If Blue could have gotten the Iron Quarter going instead of fighting with the preservationists (the reason it takes an hour to get back from Indiana btw)the revenue would have been there. I think the revenue will be there eventually. But I am sure you disagree, am I right, Zip?
I think people are tired of the enviro-nazis and the occupiers, and we should see some correction in the economy once we get the election over with, jmho.
1/21 6:43 PM | IP: Logged
This is meaningless. I don't get it? Do you actually think or believe that the arena will be closed for some reason? Think again. This will never happen. So WHO CARES? All this coffee house newspaper crap is worthless. We will be attending games at Yum for many years to come. And there is ZIPP that you can do about it!

This post was edited on 1/22 12:18 AM by Big East Card

1/21 11:56 PM | IP: Logged
Well I have to be a honorable man, Zipp you were on to something regarding the finacing plan (per the C-J).

But the arena is a reality that isn't going to go away. Nor are the current circumstances final in anyway. This issue will be resolved in practical way.

I find it unfortunate that you feel the need to rejoice in the current circumstances. Are you really that vain?

Cheers!
1/22 12:29 AM | IP: Logged

Originally posted by zipp:




Originally posted by jvolk:
Zipp...you were wrong about UL taking a money hit since they are making more than ever as I predictied...


(See Premium Board thread, Sunshine...)

a portion of your fee goes yo the arena
1/22 12:36 AM | IP: Logged

Originally posted by zipp:

Originally posted by jvolk:
Zipp...you were wrong about UL taking a money hit since they are making more than ever as I predictied...

(See Premium Board thread, Sunshine...)


On this board? Could you point those (meaningless) foam #1 fingers at yourself any more discreetly?
1/22 12:50 AM | IP: Logged

Originally posted by SR_Card:
Well I have to be a honorable man, Zipp you were on to something regarding the finacing plan...
(WTF, a mea culpa from just ONE guy?)
1/22 1:27 AM | IP: Logged
Zipp, I just don't understand your obsession with the arena. It's not like we own the place and if it is not highly successful we close the university. We are just the primary tenant there. Seems like a lot to do
about something we have absolutely no control over. Let the Arena Authority worry about it.
1/22 9:27 AM | IP: Logged
junk bonds built Vegas and that seems to have worked out.
1/22 10:33 AM | IP: Logged
NCAA tournament.weekend should take care of it.
1/22 12:03 PM | IP: Logged
Zipp. What happens when the arena implodes? Are you going to throw yourself a party?

Nobody will come.
1/22 12:03 PM | IP: Logged
Obviously the people here that don't care about the bonds didn't buy any of them.
1/22 1:43 PM | IP: Logged
This is a city issue as far as Im concerned. The OP is kind of a clown. The area directly surrounding the arena is a hell hole right now. Dilapidated buildings are more prevalent than good bars and restaurants. The city has been way too slow in developing that area. All of this should've been completed by NCAA Tournament play.
1/22 8:02 PM | IP: Logged
("The OP is kind of a clown"... laugh @ LPT Guy)
1/22 9:35 PM | IP: Logged

Originally posted by zipp:
("The OP is kind of a clown"... laugh @ LPT Guy)


Most of your own fanbase thinks you're an idiot. You post like a 3rd grader and you're like 60 years old. Do you have autism or something?
1/22 10:09 PM | IP: Logged

Originally posted by KentuckyBluesUK:
This is a city issue as far as Im concerned. The OP is kind of a clown. The area directly surrounding the arena is a hell hole right now. Dilapidated buildings are more prevalent than good bars and restaurants. The city has been way too slow in developing that area. All of this should've been completed by NCAA Tournament play.


Do you not watch the news, or are you from out of town?

An interview with some of the bars already down there say there's not enough business. More bars and restaurants won't help. The arena will have to get more business to go around.

They need something every weekend, but I don't think they'll get it.
1/22 10:37 PM | IP: Logged

Originally posted by Rollem Cards:

Originally posted by KentuckyBluesUK:
This is a city issue as far as Im concerned. The OP is kind of a clown. The area directly surrounding the arena is a hell hole right now. Dilapidated buildings are more prevalent than good bars and restaurants. The city has been way too slow in developing that area. All of this should've been completed by NCAA Tournament play.


Do you not watch the news, or are you from out of town?

An interview with some of the bars already down there say there's not enough business. More bars and restaurants won't help. The arena will have to get more business to go around.

They need something every weekend, but I don't think they'll get it.



It's not just bars and restaurants but economic development in general. It doesn't take a genius to figure out that abandoned buildings are not going to benefit you economically. There are buildings a block from the arena that have bricks falling off. There is no excuse for that more than 2 years after the arena has opened.

The arena will drive profit when things are going on, but you have to give people a reason to go down and have fun when there is NOTHING going on at the arena.
1/22 10:41 PM | IP: Logged
I think most of those buildings are being renovated.
1/22 10:49 PM | IP: Logged
But arena authority officials predict the struggles in the taxing district won’t last, and they shrug off concerns that the project may not be able to meet its debt.

They cite the emergence of new businesses near the complex and rising city hotel taxes in the past year ? an indicator of a stronger economy.

“There’s just so many things that are taking (hold), I think you’re going to see those numbers tick up,” said Larry Hayes, secretary of Kentucky’s Economic Development Cabinet and chairman of the authority’s finance committee.
1/23 1:03 AM | IP: Logged
and report was based on 2010 tax revenues, not 2011, correct? and in 2011 there were more events than planned correct? and we didn't fail to make payment correct? and they have a built in contingency fund correct? and it's the toast of the country correct? and every person and media that visits it raves correct? and it's not a dumpy like Rupp correct? and it's not going to be torn down correct? and we are not moving back to freedom hall correct? and not one card fan has a problem with arena except zippy correct? so what's this thread about?
1/23 9:03 AM | IP: Logged

Originally posted by TOP GOME:
But arena authority officials predict the struggles in the taxing district won’t last, and they shrug off concerns that the project may not be able to meet its debt.

They cite the emergence of new businesses near the complex and rising city hotel taxes in the past year ? an indicator of a stronger economy.

“There’s just so many things that are taking (hold), I think you’re going to see those numbers tick up,” said Larry Hayes, secretary of Kentucky’s Economic Development Cabinet and chairman of the authority’s finance committee.

Well, we have those nuggets, and then we have these...

Steve Rowland, Louisville’s chief financial officer, said Host told him this week that the city should prepare to increase its amount for the fiscal year that starts in July 2013. The increase could amount to $3.3 million a year...

The authority expected to have $26 million available ? including $6.7 million from the taxing district ? for its 2011 payment of $19.1 million. Instead, the district produced only $2.1 million in 2010, which goes toward the 2011 payment...

Coupled with lower-than-forecast income from arena operations, the authority expects to have only $14.6 million. Host said the arena authority plans to use surplus funds to cover the shortfall...

Hard to know what "won't last" means in the minds of the LAA, but it sounds like it's at least into the first half of 2014. Enough to cause Jimbo to tell this Steve Rowland guy to go ahead and plan to max out the City's bailout subsidy--increase the current $6.5 million by $3.3 million to hit the $10 million max number in their agreement.

And how bad does this sound?... They expected to collect $26 million toward bond debt service, and instead came up with $14.6 million, a cool 44% shortfall! What's not explicitly told but baked into that number is how badly "arena operations" are doing. But you can do the math since they're only $4.6 million short on the TIF ($6.7 vs. $2.1). By my calcs and what the article doesn't say is that the arena itself ran $6.8 million short of its "expectations", i.e., budget.

Sure things are gonna "tick up"...what do you expect arena authority officials to say to a newspaper reporter?

Ugly stuff.

Jim Host I-Guess-I'm-Not-Getting-My-Statue Arena

This post was edited on 1/23 11:02 AM by zipp

1/23 11:01 AM | IP: Logged
Zipp I think you need some new threads. How about Bail out Ky State Fairgrounds and Bail out KY Horse Park. Just noticed that Breshear is giving the KFEC 6 mil to get them out of the hole and another 1 mil to the Horse Park.

This post was edited on 1/27 12:11 AM by jvolk

1/27 12:10 AM | IP: Logged

Originally posted by jvolk:
Zipp I think you need some new threads. How about Bail out Ky State Fairgrounds and Bail out KY Horse Park. Just noticed that Breshear is giving the KFEC 6 mil to get them out of the hole and another 1 mil to the Horse Park....
Sunshine, you're repeating yourself.

Jim Host They're-Worse-Than-Us Arena (redux)

Link: Old thread, same answer...1/27 2:48 PM | IP: Logged
In the immortal words of Bill Clinton…”It’s the economy stupid!” And when this stupid economy recovers we should run the numbers again and I would be willing to bet there will be a different result. The Empire State building opened just as the Great Depression started and sat nearly empty for almost a decade. I don’t recall hearing anyone since that time saying that building that icon was a mistake.
2/23 12:24 AM | IP: Logged
Interesting and, as far as I understand it, accurate comment about Host's Petard (taken from a local blog post that points the finger at Jim Host as one of the folks trying to get Harold Workman removed from his job at the State Fair Board and I've linked below):

The Highlander wrote,

"Jimbo Host ? wouldn’t surprise me a bit. He’s got to find somebody to blame for the Grease Pit’s financial debacle (other than himself). Here’s one little bit of info that I’ll be no one knows (except the select few on the Arena Authority who are keeping it secret). It’s already asked for an additional $3+mm from the City Council this year IN ADDITION TO the $6.5+mm they GIVE IT. So, that means (without the City) it’s losing $10+mm THIS YEAR.

HERE’S THE NEWS ? They’re on INTEREST ONLY. There’s NO PRINCIPAL RETIREMENT OF THE $349MM BOND ISSUE and that won’t start for 8 more years. So divide $349mm by 20 years and you’ll see the principal payment will approach $17.5mm a year and the Arena will be 10 years old then needing a complete refurbishment (but the rainy day fund’s all gone).

Jimbo Host ain’t gonna take the blame for that, now, is he."


But I heard Diamond Dave did his scat thing at Host's Petard, that's got to be worth upwards of $20 million a year to a city that's already $30 million in the hole ... zipadee doo doo bop! ...

Link: Jim Host Is Allegedly Behind The Workman Plot2/24 11:51 AM | IP: Logged
Maybe Host is under the impression there can only be one.

This post was edited on 2/24 1:44 PM by meltdown213


Link: HOST McCloud2/24 1:31 PM | IP: Logged
Here's another interesting quote about Host's Petard from an interview w/businessman Jonathan Blue in Insider Louisville:

IL: So what does downtown Louisville look like to you in 2020. Do we finally get retail? Big new buildings?

JB: I think the No. 1 thing you should think about and all of us should think about is, “How are we going to get more content in the Yum! Center?” I know that sounds interesting because we say, ‘Oh, there’s plenty of content! We have 16 (University of Louisville) basketball games and we hear about all these great concerts. But if you divide that by 365, it’s empty! And I want to explain to you ? and I haven’t seen the budget and I wasn’t on the (arena) committee ? but far more nights were projected to be booked than there are now, and that arena is far too dark.

And someone needs to quickly figure that out.

That will also drive development over time.


He mentions the arena problem a couple of times in this interview. I'm not a fan of these guys (strike me as born on third base thought they hit a triple types who have a shrewd and wealthy father), but the not enough dates thing is/was so obvious. And there's nothing they can do about that b/c even when/if they want to get together to put something in there that only half-fills the place (and that's the low hanging fruit they have to go after in this market), it doesn't make financial sense. They do some of that now, because what else can they do, but this Taj Mahal was so expensive that half-filling it is more about publicity than profit.

Link: KFCYum!Center is sitting dark far too many nights2/24 3:41 PM | IP: Logged
While we're building our Bailout Bonfire, let's throw a couple of million-dollar logs on there for the KFEC which now loses that much annually with the Cards playing men's basketball and just about every non-revenue sport possible within the confines of Bailout Arena.

If we can engineer enough water, women's rowing may soon move indoors and be cheered on by bourbon-swilling fans paying little else for the sheer thrill of matriculating to 2nd & Main. As long as they don't stumble in and drown.

Jim Host Every-Sport-But-Football Arena

This post was edited on 2/28 4:05 AM by zipp

2/28 4:04 AM | IP: Logged
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