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February 16, 2009

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Vox Populi

At this point the believeability of the CIB is 0. To date we have the CIB proposing to forgive 34 million for the Circle Center and 20+ million for the maintenance of the LOS per year. On top of that the cost to the taxpayers for the LOS and the 'new' convention center will exceed 2 billion dollars! For the math challenged that is 2.0 time ten to the 9th or 2000 million dollars and oh yeah the Colts don't even pay rent!

John Howard

More than two years ago the then-mayor told us we 'needed' a downtown casino to supply funding for LOS maintenance.

In light of the recent CIB financial disclosure, casino proponents have been making 'I told you so' pitches to encourage reconsidering a downtown casino.

But wait, the state legislature is now investigating some sort of bailout of the existing casinos because they are failing!

Citizen Kane

Good title for this post. Despite its truth, all we will hear from politicians is the groupthink pablum of how many millions of dollars this brings into our community. Anyone with common sense knows that the tourist industry is a low-wage industry. With a little research one can easily determine that it contributes only a small fraction to the economy of Indianapolis.

See earnings and employment by Industry in the following link.
http://www.stats.indiana.edu/profiles/pr18097.html

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