The editors at the IBJ want you to know that it's your civic duty as good citizens to make sure the billionaire Simons make as much money as possible no matter how much crony capitalism that requires. It seems the editors are worried that the downtown mall known as Circle Centre, built mostly with taxpayer dollars, is starting to show its age. Naturally that means taxpayers should dig deeper into their pockets to make sure this mall that is operated 100% for the benefit of the Simons' Fortune 500 company remains prosperous for them. From their
latest editorial:
It was the shining jewel that sparked a downtown renaissance. Beautifully designed and detailed, Circle Centre Mall looked at its September 1995 debut every bit the city-center show stopper.
Today, not so much . . .
The city owns the land under the mall, and is responsible for maintaining its sidewalks. The city paid for more than half of the mall's $320 million construction cost. So it, Simon and other owners need to partner on an update that could lure the retailers needed to repair the image hit the mall took with its 2011 loss of anchor Nordstrom . . .
Ultimately, the city, Lilly, Simon and the other 18 corporate investors did a downtown by doing a mall. It's time for them to give that mall the face lift that benefits its significance in this city's history, and in its future.
As far as the pompous Mickey Maurer is concerned, there is no limit to how much money we should be asked to stick in this money-grubbing family's palms, most of whom spend the majority of their time living in their multi-million dollar mansions in cities on either coast to get away from the people of Indiana upon whom they look down upon. We built Market Square Arena to help propel the struggling Indiana Pacers franchise they picked up for about ten million bucks that is now worth nearly $400 million thanks to our hard-earned taxpayers, but that wasn't good enough. We had to build a brank spanking new $200 million Fieldhouse with the latest and greatest of amenities. That still wasn't good enough for them and we had to start shelling out $10 million a year in subsidies to their NBA franchise. They wanted to build a mall downtown, but only if taxpayers shouldered the burden for building it. They wanted a new corporate tower built on state-owned property with a $25 million cash contribution and a free parking garage to boot to show to us all how our politicians cower to their influence. At what point do the serfs have to stop providing alms to these greedy people?
6 comments:
Circle Centre Mall (in my humble opinion) is an example of The Rich Get Richer at taxpayer expense!
Since it was created, Circle Centre, was a focal point of downtown life. Since then, Union Station (the former downtown night life) has passed away into oblivion. -Union Station: Unused space, wasted space...and the object of critics.
Circle Centre originally was a hit. But neglect by it's management in multiple areas has led to it's present state.
I have a question: Has the Simon family considered relocating to Baltimore?
It's been reported that: "The city owns the land under the mall, and is responsible for maintaining its sidewalks. The city paid for more than half of the mall's $320 million construction cost. So it, Simon and other owners need to partner on an update that could lure the retailers needed to repair the image hit the mall took with its 2011 loss of anchor Nordstrom . . . "
Simple security measures are ignored? -How many real police officers are on the Circle Centre payroll? -Enough to stop the downtown panic???? NO!!!!
Can people feel safe downtown at 9:00 on Friday or Saturday????? -History speaks for itself.
"Lilly, Simon and the other 18 corporate investors did a downtown by doing a mall. It's time for them to give that mall the face lift that benefits its significance in this city's history, and in its future." -That is RIGHT ON!
AI is RIGHT ON when it states the obvious: "We built Market Square Arena to help propel the struggling Indiana Pacers franchise they picked up for about ten million bucks that is now worth nearly $400 million thanks to our hard-earned taxpayers, but that wasn't good enough. We had to build a brank spanking new $200 million Fieldhouse with the latest and greatest of amenities. That still wasn't good enough for them and we had to start shelling out $10 million a year in subsidies to their NBA franchise. They wanted to build a mall downtown, but only if taxpayers shouldered the burden for building it. They wanted a new corporate tower built on state-owned property with a $25 million cash contribution and a free parking garage to boot to show to us all how our politicians cower to their influence. At what point do the serfs have to stop providing alms to these greedy people?"
Capitalism is usually a bad idea, and taxpayer funding of downtown is throwing good money after bad.
Worse, it's criminal neglect of the other parts of town. Perhaps it's actually conspiracy to defraud, as the entire city pays money which Ballard then funnels to private parties.
Big government is a capitalist's best friend.
There seems to be no idea too far fetched for the adherents Crony-Capitalism.
Just like the other so-called Public-Private Partnerships the costs are socialized and the profits are privatized.
As a Baby Boomer my own feeling is "Down Towns" as they existed are as obsolete as Stage Coaches. The fact that billions of dollars (Direct and Indirect Tax Subsidies) must be pumped into our downtown proves it is an Model of Economic Failure.
Circle Centre was, is and forever will be a losing proposition.
The mall and other forms of corporate welfare stem from the mindset of politicians and corporate types, that taking the public's money for the benefit of the "few" is a-ok. It's the mindset of a psychopath.
All capitalism is "crony-capitalism."
Capitalism doesn't require or presume politics. Capitalism merely requires increasing one's capital through all means possible. Bribery, lobbying, corruption, etc. are all permitted in capitalism, indeed, required.
If murder weren't illegal, capitalism wouldn't forbid it.
It's a masterful trick of marketing for the capitalists to conflate their system with the free market. The two are not identical.
Operating in a free market requires one person to respect another's freedom in the marketplace. Such considerations are counter-productive in capitalism.
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