Comments on: The Stadium controversy as a national bellwether http://riveraveblues.com/2009/01/the-stadium-controversy-as-a-national-bellweather-7148/ A New York Yankees Blog Mon, 28 May 2012 05:01:37 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: Dave Benson http://riveraveblues.com/2009/01/the-stadium-controversy-as-a-national-bellweather-7148/#comment-685213 Dave Benson Fri, 13 Nov 2009 00:10:44 +0000 http://riveraveblues.com/?p=7148#comment-685213 To answer your question, there are two teams that have never recived any public funding or tax breaks for their staiums. That would be the Red Sox and the Cubs. Every other team is at least partly on public welfare. To answer your question, there are two teams that have never recived any public funding or tax breaks for their staiums. That would be the Red Sox and the Cubs. Every other team is at least partly on public welfare.

]]> By: Ken Rosenthal: Don’t be foolish, the Yankees aren’t done yet. Says they should sign Juan Cruz & Ben Sheets… | Yankees Rumors - NYYankeesRumors.com http://riveraveblues.com/2009/01/the-stadium-controversy-as-a-national-bellweather-7148/#comment-285836 Ken Rosenthal: Don’t be foolish, the Yankees aren’t done yet. Says they should sign Juan Cruz & Ben Sheets… | Yankees Rumors - NYYankeesRumors.com Fri, 20 Feb 2009 00:18:54 +0000 http://riveraveblues.com/?p=7148#comment-285836 [...] The Stadium controversy as a national bellweather [...] [...] The Stadium controversy as a national bellweather [...]

]]> By: JCP http://riveraveblues.com/2009/01/the-stadium-controversy-as-a-national-bellweather-7148/#comment-264081 JCP Thu, 22 Jan 2009 08:07:24 +0000 http://riveraveblues.com/?p=7148#comment-264081 not to be a d*ck, but it's bellwether, not bellweather. not to be a d*ck, but it’s bellwether, not bellweather.

]]> By: drdr http://riveraveblues.com/2009/01/the-stadium-controversy-as-a-national-bellweather-7148/#comment-264066 drdr Thu, 22 Jan 2009 06:53:27 +0000 http://riveraveblues.com/?p=7148#comment-264066 the city lost relatively little on bond taxes - 2-3 million per year. The city lost much more on property taxes, because city owns the land, and not the Yankees, over 10 million annually, but even there I think that any smart business can easily find a way to reduce that sum to less than 50% over 40 years just with standard deductibles. And Yankees argument was that they didn't pay property taxes in the old stadium, so city isn't losing existing revenue, and that it was one of the deal-breakers to remain in Bronx. And city is saving several million annually in maintenance costs, because Yankees will be paying maintenance in the new stadium (at least twice what they are losing with non-taxable bonds). And because of non-taxable bonds, Yankees are saving about 30 million annually. Big city expense is infrastructure and the question is whether Yankees should have payed more for it (new station is necessary for the neighborhood and the city should pay all of it, but I don't know what other infrastructural projects city payed for), but the only real issue with tax-exempt bonds is whether they could have been used for more deserving projects, i.e. opportunity cost. the city lost relatively little on bond taxes – 2-3 million per year. The city lost much more on property taxes, because city owns the land, and not the Yankees, over 10 million annually, but even there I think that any smart business can easily find a way to reduce that sum to less than 50% over 40 years just with standard deductibles. And Yankees argument was that they didn’t pay property taxes in the old stadium, so city isn’t losing existing revenue, and that it was one of the deal-breakers to remain in Bronx. And city is saving several million annually in maintenance costs, because Yankees will be paying maintenance in the new stadium (at least twice what they are losing with non-taxable bonds). And because of non-taxable bonds, Yankees are saving about 30 million annually.

Big city expense is infrastructure and the question is whether Yankees should have payed more for it (new station is necessary for the neighborhood and the city should pay all of it, but I don’t know what other infrastructural projects city payed for), but the only real issue with tax-exempt bonds is whether they could have been used for more deserving projects, i.e. opportunity cost.

]]> By: J.R. http://riveraveblues.com/2009/01/the-stadium-controversy-as-a-national-bellweather-7148/#comment-264053 J.R. Thu, 22 Jan 2009 05:58:59 +0000 http://riveraveblues.com/?p=7148#comment-264053 I actually didn't know that. I actually didn’t know that.

]]> By: Ed http://riveraveblues.com/2009/01/the-stadium-controversy-as-a-national-bellweather-7148/#comment-264035 Ed Thu, 22 Jan 2009 05:19:37 +0000 http://riveraveblues.com/?p=7148#comment-264035 At least they realized that a dead man would be a better senator than Ashcroft. At least they realized that a dead man would be a better senator than Ashcroft.

]]> By: Ed http://riveraveblues.com/2009/01/the-stadium-controversy-as-a-national-bellweather-7148/#comment-263929 Ed Thu, 22 Jan 2009 02:43:02 +0000 http://riveraveblues.com/?p=7148#comment-263929 When the city issues tax free bonds, they get to impose more restrictions on how the money is spent. They get to say things like "Use a NY company to do the work." When they do that, they keep more of the money spent within the NY economy, which generates far more tax dollars than they would get if the bonds were taxable and the work was done by a NJ or CT company. When the city issues tax free bonds, they get to impose more restrictions on how the money is spent. They get to say things like “Use a NY company to do the work.” When they do that, they keep more of the money spent within the NY economy, which generates far more tax dollars than they would get if the bonds were taxable and the work was done by a NJ or CT company.

]]> By: D.B.H.O.F. p.k.a The Last Don http://riveraveblues.com/2009/01/the-stadium-controversy-as-a-national-bellweather-7148/#comment-263786 D.B.H.O.F. p.k.a The Last Don Thu, 22 Jan 2009 01:03:44 +0000 http://riveraveblues.com/?p=7148#comment-263786 Unfortunately for Nelly he is not even the most successful rapper in the STL anymore. Huey of "Pop Drop and Lock It" fame is the more recent success in town. Unfortunately for Nelly he is not even the most successful rapper in the STL anymore. Huey of “Pop Drop and Lock It” fame is the more recent success in town.

]]> By: Januz http://riveraveblues.com/2009/01/the-stadium-controversy-as-a-national-bellweather-7148/#comment-263778 Januz Thu, 22 Jan 2009 00:56:33 +0000 http://riveraveblues.com/?p=7148#comment-263778 The changing attitudes towards construction of this Stadium is the "Tipping Point" and "Victory"of NOTHING except other cities and fans losing their teams, or having teams that cannot compete with others consistantly,because they can't get funding to build new facilities (Even if they are well run like the Oakland A's). Try being a fan of the New York Islanders for example: It is no fun, because you know that your team is on a deathwatch, and every season could be your last, because they play in the WORST facility in professional sports: The Nassau Coliseum, and you know deep down, you are not getting a new building. The four Stanley Cups, and names like Bossy, Trottier, Gillies, Potvin, and Billy Smith, could soon be on the ash heap of history, while they are playing in Kansas City. At least I know that although my hockey team is likely gone, I will have the Yankees to root for, who represent the best of everything. (Unlike OAKLAND sports fans who could be losing the ONLY two things that prevent it from being the ugly step sister of San Francisco...... The Raiders & the A's. Think about it. The changing attitudes towards construction of this Stadium is the “Tipping Point” and “Victory”of NOTHING except other cities and fans losing their teams, or having teams that cannot compete with others consistantly,because they can’t get funding to build new facilities (Even if they are well run like the Oakland A’s).
Try being a fan of the New York Islanders for example: It is no fun, because you know that your team is on a deathwatch, and every season could be your last, because they play in the WORST facility in professional sports: The Nassau Coliseum, and you know deep down, you are not getting a new building. The four Stanley Cups, and names like Bossy, Trottier, Gillies, Potvin, and Billy Smith, could soon be on the ash heap of history, while they are playing in Kansas City.
At least I know that although my hockey team is likely gone, I will have the Yankees to root for, who represent the best of everything. (Unlike OAKLAND sports fans who could be losing the ONLY two things that prevent it from being the ugly step sister of San Francisco…… The Raiders & the A’s. Think about it.

]]> By: Ken Rosenthal: Don’t be foolish, the Yankees aren’t done yet. Says they should sign Juan Cruz & Ben Sheets… « Zell’s Pinstripe Blog http://riveraveblues.com/2009/01/the-stadium-controversy-as-a-national-bellweather-7148/#comment-263714 Ken Rosenthal: Don’t be foolish, the Yankees aren’t done yet. Says they should sign Juan Cruz & Ben Sheets… « Zell’s Pinstripe Blog Wed, 21 Jan 2009 23:42:59 +0000 http://riveraveblues.com/?p=7148#comment-263714 [...] The Stadium controversy as a national bellweather [...] [...] The Stadium controversy as a national bellweather [...]

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