Comments on Advance Indiana™: Grand: Bankruptcy Should Not Be Used As A Threat By CIB

guy77, they know exactly whose money it is and tha...

2009-04-29T06:18:00.000-05:00

guy77, they know exactly whose money it is and that's why they are so reckless with it. It's not THEIRS, it's other people's money, In fact, the more reckless they are with OPM, the more they make for themselves. Pretty neat, huh?

What all these idiots do not understand (a complet...

2009-04-29T04:50:00.000-05:00

What all these idiots do not understand (a complete failure in most boards that deal with money) is whose money is it? If only they would ask themself a couple of questions. If this was my money would I use it to finance this project? Will this make a profit or if no profit how much will it cost? What benefit will this be for the community at large and is it worth the risk and cost? No these questions are rarely asked or even thought about. It mostly about the board members self interests and egos. The board members with their self interest at heart then push with all their might to make get what they want. Whats the quote.. Never appeal to a man’s “better nature.” He may not have one. Invoking his “self—interest” gives you more leverage. If only CIB board had the city's taxpayers in mind when they were making these insane deals we would all be so much better off.

Give LOS to the state and that may fix Lucas's mai...

2009-04-28T22:24:00.000-05:00

Give LOS to the state and that may fix Lucas's maintenance but the CIB problem remains. Who fixes the convention center and Conseco issues, the same group who got us into this hole. I'm not fond of putting off things that should be fixed now and hope that someone later will pick up the pieces.

So the CIB gifts 15 million to the Pacers, unasked...

2009-04-28T21:16:00.000-05:00

So the CIB gifts 15 million to the Pacers, unasked, and per Bob Grand that constitutes negotiation, right Bob? Perhaps Mr. Welsh is correct, deflect the issue by relinquishing LOS back to the state. While the state would be on the hook for LOS that doesn't fix the CIB or the egregious contracts they have given to the owners.

I stand corrected.

2009-04-28T10:34:00.000-05:00

I stand corrected.

That's correct, Paul. I've said all along I think ...

2009-04-28T09:51:00.000-05:00

That's correct, Paul. I've said all along I think the CIB should turn the stadium back over to the state and wash their hands of that liability. It makes so much more sense than a bankruptcy or a bailout.

Jabber, Actually I don't think Gary Welsh has eve...

2009-04-28T09:21:00.000-05:00

Jabber,

Actually I don't think Gary Welsh has ever advocated bankruptcy. He's talked about turning LOS back to the city, which is also a possibility. I'm not as familiar with Gary when it comes to the ramnifications.

Regardless you take any option off the table and it's a loss of leverage. You don't do that.

What I find amazing is that these politicians live...

2009-04-28T08:57:00.000-05:00

What I find amazing is that these politicians lives are so lame that they will commit these atrocities against taxpayers for tickets to a suite to watch a ball game.

I've been to the Colts, Pacers and Indianapolis 500 suites before with different guys I've dated. It was ok. The roast beef was good. Mostly the people got on my nerves because they were plastic.

Quite frankly, I've been to better house parties.

These politicians really must have empty personal social circuits to sell us out for so little.

I like that analogy Paul. Council President Bob C...

2009-04-28T08:21:00.000-05:00

I like that analogy Paul.

Council President Bob Cockrum was at a neighborhood meeting last night where the question was raised, what if the CIB doesn't get the money it wants? One of Cockrum's responses was that we could give the LOS keys to the state and let them run it.

I do continue to hold out the notion that bankruptcy for the CIB could damage the bond rating for the City. That said, I can't help but thinking that Grand doesn't want to talk about bankruptcy simply because he links it to this blog.

The art of negotiating is to understand the concep...

2009-04-28T07:57:00.000-05:00

The art of negotiating is to understand the concept of leverage. Even if bankruptcy were not something that would be used, it should be on the table. When the CIB takes it off the table, they lose their negotiating clout.

Bob Grand (and other city leaders) remind me of someone who goes to a car dealership and tells the salesman at the outset that he is not leaving the lot until he buys a car. The leverage you have to negotiate a deal at that stage is practically gone. They know you're not going to walk away without buying a car. Walking away is leverage.