Saturday, January 24, 2009

CIB Claims Budget Shortfall is Due to the Economy; Advance Indiana Instead Points to Bungled Colts Deal

Advance Indiana this morning hits a home run with a column criticizing the Capital Improvement Board's new claim that the budget shortfall is due to the economy. As Gary Welsh points out, the real reason for the shortfall is the one-sided Colts deal negotiated by Fred Glass, former Chairman of the CIB, where he gave the Colts a sweetheart deal where the Colts could keep not only game day revenue but half of the revenue from other events and all the advertising revenue at the facility.

Welsh concludes:
The answer to this problem is really simple. You go back to Irsay, just like Peterson and Glass should have done before construction began on the new stadium., and tell him he will have to give back some of the taxpayers money. Sorry, Jim, but you are the biggest welfare recipient in the state of Indiana. You're going to have to cut back on your lavish lifestyle just a little and share this burden with the rest of us.
Amen, Gary, amen. The CIB can also stop giving taxpayer money away for grants to the arts and giving money to the Indiana Sports Corporation for its operating expenses.


Anonymous said...

The communist Colts deal has the potential to bankrupt the city.

Indy people will do anything to claim they are a "real city," even if it means bringing their house down upon themselves.

Anonymous said...

Why doesn't the CIB do what Ballard and the GOP has done, hire Abdul as a "consultant" and let him use his blog (and legions of aliases) to attack those who oppose white collar croynism. He can also use his unbiased radio program to promote the virtues of taxpayer and funded entertainment venues and ridicule their opponnents. Come on if Ballard can make it work for him why not CIB. Afterall an armsdealer can't survive on martinis alone.