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Posts Tagged ‘subsidy’

The only thing going in is taxpayer money…

Wednesday, July 16th, 2008

In a short video on the NAACP website, Mayor Mark Mallory welcomes NAACP delegates to this week’s national convention in Cincinnati and gives some examples of Cincinnati’s recent renaissance, including the National Underground Railroad Freedom Center (NURF). But NURF is not the good example of revitalization that Mayor Mallory suggests it is. Like most government-funded projects, NURF has been a problem from the start. The museum’s construction was made possible only through heavy taxpayer subsidy; 46 million of the 110 million dollars for the project was provided by either the federal, state, county, or local government. This number doesn’t include the value of the land which the City of Cincinnati donated for the building. It gets worse from there. From a Cincinnati Enquirer article in June:

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‘Splain, Lucy

Thursday, July 3rd, 2008

Now, walk me through this.

I own a quite nice building. Historic character, maybe even historic, but let’s just say it’s a nice building.

Issue is, it needs renovating, no longer meets my needs. That’s expensive. Moreover, it’s too big. I need less than only half of it. And did I say I don’t have money to burn? I can pay only what I can afford, which is enough to meet my actual business needs.

That’s not a hard business decision. I spend what I need for my business, which in this case sure sounds like a different building. I’ll be renting, buying or building elsewhere. If I’m a rich philanthropist who wants to renovate the existing building, fine, spend my rich philanthropist money.

But I’m not a rich philanthropist, I’m a businessman, so check that option off.

Maybe I can round up some speculators to invest in my building and take a flyer that renovated buildings of historic character will be worth the investment. I hear senators McCain and Obama want to put all the oil speculators out of work, so there ought to be plenty of speculators around with pockets-full of cash and nothing else to do.

But for some reason I’m not finding them, so check that one off.

Oh, what to do, what to do. Hey! Why didn’t I think of this before? I’ll just ask the state for money–and by golly the state says yes! Except, doggone it, even the state recognizes this is a bad business decision and will still pay only the amount I actually need.

Well, that leaves just one thing: “But if granted a waiver for more time, an aggressive fund-raising campaign could be started, and leaders could hunt for building preservation grants or explore partnerships with businesses and community organizations for use of part of the building.”

And the best part is, it’s other people’s money! In fact, it’s your money.

Here’s to the bolt manufacturers

Wednesday, July 2nd, 2008

Old Del Latta, excuse me, Bob Latta (who says we don’t have royalty), thinks “It’s very important that we thank farmers in this district and in this state right before people cast votes for me.”

Maybe I paraphrased that last bit.

Okay. Farmers feed us. Less than one percent, feeding the world, etc. But what about the bolt manufacturers? I bet it’s way less than 1 percent of the population working in the bolt industry, and what if we lost them tomorrow? All our tractors would fall apart, not to mention everything else. Everybody’d be sitting on their arses on the Interstates, like in one of those insurance and/or global warming commercials, pretending to drive a car the way a six-year-old might, but not having any car to drive.

Do you want that? Do ya? Huh? Let’s hear it for the bolt manufacturers, and maybe give them a little subsidy, what?

(I think the Blade just wanted an excuse to use the phrase, “cleans teats” in a news story. But give them kudos for the closing sentence: “Farmers know when manure is being spread by politicians.” Only, I don’t think it means what the farmers think it means.)

All hat, no cattle

Tuesday, June 17th, 2008

Geez, talk about big wind-up and no pitch.

The Enquirer thinks college costs are too high, with prices jumping crazy-like and (of course) government support not keeping up. If that were an observation that had not already been widely made and is likely widely known, then, maybe it’s worth the price of the electrons. But it has and it is.

Of course, you start out with a weak punch like that, and you’ve got more than the normal problem of how to finish it: “But the solution will require a much more comprehensive response, including cost containment by colleges and more state and federal support for students willing to work hard and set their sights high.”

Indeed. May as well add, it remains to be seen.

Better put some ice on that

Monday, June 16th, 2008

While Riverview is not Mr. Shaw’s first go at real-estate development, it would be his first successful project.”

Ouch.

It’ll be enough victory that, if he fails, he takes only investors’ dollars with him, and not taxpayers’.

And ditto if he succeeds. Good luck, Mr. Shaw.