Comments on Advance Indiana™: A Bailout For Circle Centre Mall?

Goldsmith and whomever else appropo weren't ri...

2010-06-20T12:53:17.024-05:00

Goldsmith and whomever else appropo weren't right on everything, like avoiding attention to the water/sewer issue that costs us big money in hindsight. But, when all we could afford was a hole in the ground instead of a mall, he gets at least some of the credit for doing just that.

Whatever the similar fiscally conservative action is that needs to be done these days, boarding-up Conseco, saying, "No" to a voluptuous Lucas or Library, etc., seems an impossibility to ask of current leadership.

They believe it's better to be bold and corrupt than bold and frugal. Governor Daniels is by no means untainted, but we'll see far he succeeds in the other direction.

Ladies and Gentlemen, I think we may be overlookin...

2010-06-20T08:36:33.130-05:00

Ladies and Gentlemen, I think we may be overlooking the cause of all these bailouts/shake downs.

Remember, now that Indy has won the bid for the 2012 Super Bowl, the city is now under enormous pressure to gussy up downtown and make a great show.

What can the city not afford, an empty Conseco Fieldhouse, a Circle Center mall missing two anchor stores, a near abandoned City Market or sidewalks/streets in need of repair.

The City will do anything . . . and, I mean ANYTHING . . . to make sure it avoids these scenerios. Simons know this as well as any of the other "elites." That gives them enormous leverage in any negotiation with the City. The can ask for the stars and the moon, they will get it from the Administration. The Mayor has his eye on this one shining moment.

Maybe it is time to level the playing field for the city as well as the taxpayers and tell the NFL thanks, but no thanks.

"Paul, It's incredible that Huber is alre...

2010-06-19T20:39:02.113-05:00

"Paul, It's incredible that Huber is already saying the City will do whatever it takes to ensure that the anchors stay. You've pretty much folded your cards before the game is played. That is essentially what the CIB did with the Simons on the Fieldhouse lease until they started getting the shit kicked out of them and realized that people were figuring out how incompetent their negotiating skills were. I've never seen such negotiators who start out on the side of the other party before they even commence negotiating. It happens over and over again in this town."

Bingo, Gary. You hit the nail on your head. These city officials do not know how to negotiate. You never announce at the start of negotiations that you plan to do whatever it takes to do the deal. That results in your get walking all over in negotiations. It's happened time and time again in this city, yet they don't seem to learn.

How about a bail out for city parks, which keep ha...

2010-06-19T20:01:35.952-05:00

How about a bail out for city parks, which keep having their budget slashed due to these bail outs?

I think the parks and libraries provide much more of a public service than professional sports stadiums and shopping malls ever will. And if the tourists don't use them, then who cares? It seems that sometimes, in this city, we'll do everything to make visitors happ but regular, normal citizens are treated with far less respect.

I'd like to know the ratio of tax dollars spent on enticing visitors vs local citizens. That would be quite an interesting figure, wouldn't it?

It's a vicious cycle. The more we subsidize th...

2010-06-19T20:00:29.726-05:00

It's a vicious cycle. The more we subsidize the downtown, the more it needs to survive. At some point, you just have to cut bait and say fend for yourself like every other business. I like the mall. I shop there regularly because it is convenient. I'm not a fan of Nordstroms in the least bit. Too pricey and the quality of a lot of the clothing doesn't match the high price. I bought a suit there once and was very dissatisfied with it. Dress shirts carrying their label don't wear well at all. Carson Pirie, like Parisian before it, runs great sales. I'm always surprised at how many people I run into from Indy when I shop at the outlet mall at Edinburg, and I'm talking about well-educated, professionals who have more disposable income than most people. Indy folks just aren't high on dropping big dollars on clothing just to say they shopped at Nordstroms.

What AREN'T we going to bail out? Where is th...

2010-06-19T19:28:50.578-05:00

What AREN'T we going to bail out? Where is the line drawn these days? Is there a line? Is there such a thing as corporate fiscal accountability if you're an affluent, influential local business? If so, why does the mall get a bailout, but the IMS has to pretty much fend for themselves in tough times?

Will somebody explain? I concur with the tough call to not extend deficit spending this week in D.C., even though some people are still looking for jobs. But, how can we justify that while bailing out shopping centers?

Paul, It's incredible that Huber is already sa...

2010-06-19T13:48:43.912-05:00

Paul, It's incredible that Huber is already saying the City will do whatever it takes to ensure that the anchors stay. You've pretty much folded your cards before the game is played. That is essentially what the CIB did with the Simons on the Fieldhouse lease until they started getting the shit kicked out of them and realized that people were figuring out how incompetent their negotiating skills were. I've never seen such negotiators who start out on the side of the other party before they even commence negotiating. It happens over and over again in this town.

"Huber said he wasn’t sure exactly when the d...

2010-06-19T09:28:42.415-05:00

"Huber said he wasn’t sure exactly when the department store deals are up for renewal, but believes it’s next year."

Boy, he's really on top of things, isn't it.

That's a rather brilliant strategy. We've...

2010-06-19T09:17:38.402-05:00

That's a rather brilliant strategy. We've all been wondering how the Pacers could possibly have a negotiating position for the $18M on Conseco.

And suddenly, there it is!

You don't get to be a billionaire by being stupid (Jim Irsay being an exception to the rule by virtue of inheritance).