Saturday, May 2, 2009

My Plan to Trim the CIB's Deficit by One-Third

It's a radical idea and doesn't involve squeezing lowly-paid hospitality workers. Here it goes: Do not pick up the Pacers' operating costs at Conseco for $15 million. Result? Deficit lowered from $47 to $32 million.

What is so remarkable is that the CIB has managed to address the deficit in such a way that people are just assuming the extra $15 million is simply a part of the deficit. It's not. The CIB has yet to even take a vote on picking up the extra $15 million for the Pacers.

The fact that the CIB's leaders, operating behind closed doors, agreed to pay the extra $15 million, even when the board was $32 million in the hole, and the head of the CIB, Bob Grand, represents the owners of the Pacers, screams out for an investigation of how this behind closed doors deal came about in the first place.


I know said...

Good first policy decision in a Mayoral run!

Jon said...

Beside the 15 million bequest to the Pacers they increased salaries 9.4 million, land acquisition 4.2 million and aren't collecting 3.45 million per year for the parking garage the city owns and the Simons use and they increased their advertising budget 2 million. That's more like 19-20 million they could easily recoup. Take 20 million from that 47 million deficit and all you have left is that 27 million dollar payment due later this year.

M Theory said...

Wow! It's not just me touting OGDEN FOR MAYOR anymore!

Those words have such an excellent tonality.

Unigov said...

$32 million a year ?

A tax of $30 per Pacers and Colts ticket would cover that.

It's the only FAIR solution.

jabberdoodle said...

This handout to the Pacers needs to be excised from all discussion of a CIB bailout. Why the Mayor and the Councillors are not saying ANYTHING about trimming that obvious fluff is beyond me.

And the coincidence of a $15 million daft negotiating move in favor of the pacers while Bob Grand is Pres of the CIB screams 'appearance of a conflict of interest'. Why the Rs defend keeping him is also beyond me. They act like there is only one person in all of Indianapolis who is qualified for that position. Horsefeathers ! That's a slap in the face to all the talented people we have here.

Usually you can see some logic playing out behind the smoke and mirrors. Not this time. Maybe they are simply not thinking.