J.C. Bradbury
@jc_bradbury
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Economist, Georgian, Gadfly Stadium Subsidies, Film Incentives, Local Economic Development, Sports Economics Pointers welcome (DMs open) #ATLUTD
Marietta, GA
Joined April 2009
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Our article (w
@dcoatesecon
and
@humphreys_brad
) providing a comprehensive review of stadium policy is now published at
@JPAM_DC
. We wrote it for policymakers and communities grappling with stadium questions now. The link provides free access.
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I almost just fell out of my chair.
💯
The Chicago Bears on Wednesday will for the first time discuss their proposal for a lakefront stadium with two top aides for Gov. J.B. Pritzker, who already has publicly and privately criticized the use of public subsidies for new sports stadiums.
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Enough with this lazy narrative. The long-term futures of the Royals and Chiefs are not "very much in question" because of this vote. The real story is that voters rightly rejected a terrible subsidy demand from billionaire owners who had no right to ask.
Voters in Jackson County have rejected the public funding proposal for the Kansas City Chiefs and Royals’ stadium projects.
The decision leaves the long-term future of both teams in the jurisdiction very much in question.
MORE »
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If you're wondering why the Titans were so hellbent on passing its $1.26 billion stadium subsidy in such a rush, take a look at tonight's Nashville election results. It's a lesson for elected reps everywhere being told by lobbyists that voters want a stadium. They don't.
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Spoiled brat who inherited his team from his dad demands taxpayers build him a new stadium ... or else.
Chiefs owner says leaving Arrowhead Stadium is an option after sales tax funding was rejected
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@Phil_Lewis_
@jbarro
Do yourself a favor: click on the link, scroll to the bottom, and watch the full 8-minute interview.
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Here's a list of economists who supported the A's stadium plan.
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When you get the causality exactly backwards. Oof.
Big spenders are set to boost Las Vegas service workers’ earnings during Super Bowl weekend, but maybe not by much.
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Fisher on not getting a new A's stadium in Oakland: "Unfortunately, we didn't have time to wait."
Wait for what? You own the team. This is a market economy. YOU'RE RESPONSIBLE FOR PROVIDING YOUR OWN STADIUM.
The entitlement is off the charts.
A’s owner John Fisher tells me he likes the armadillo comparison for the Las Vegas stadium design, there are plans to have nods to the Tropicana's past incorporated - and he gets a little wistful about Oakland when I asked why it couldn't be built there:
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30-year lease, no rent, and the team gets to keep all the revenue. This is on top of the $380 million in public subsidies going to the A's. That's a hell of a deal for the billionaire owner and quite a screw-job for taxpayers. Shame on any leader who supports it.
Here we go again. It's Stadium 2.0 in Las Vegas for another relocating Oakland team. This time, it's the
@Athletics
and their stadium on the Strip. LVSportsBiz attended today's stadium board meeting and filed this report:
@MLB
#stadiums
#Vegas
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3-4 top payrolls in MLB are in the Championship Series.
And why it was a mistake for the MLBPA to approve expanding the playoffs. Why pay for excellence when you can save money by settling for mediocrity and then just get hot for a week or two?
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My daughter is a student at UGA. Like any parent, I worry about her well-being, and illegal aliens aren't even on my list of concerns. Shame on this idiot, or anyone trying to score cheap political points off this terrible tragedy. You are truly awful people.
Every parent, and every American, is saddened—and outraged—to hear about the loss of University of Georgia student Laken Riley. Our prayers are with her family and friends as they mourn this tragedy.
The brutal murderer who took the life of Laken was one of the millions of…
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@BrendanKeefe
Thanks for not being intimidated by corrupt public officials who obviously have something to hide.
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It's time to stop this attitude of entitlement among sports team owners. There is no legitimate economic reason to devote public tax dollars to subsidizing professional sports. None, zero, zilch.
Ken Kendrick on the possibility of the Diamondbacks leaving Arizona:
"There are opportunities available ... It's not where we are spending time or energy. We may run out of time in Phoenix. We hope that won't happen."
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Hell yes
"Losing fans is one thing, but treating them this way sends a message to all fans." -Trevor May
“Appalled” -Ron Darling
But then there’s
@DaveKaval
: "It's baseball," he says, eyes widening, "and baseball is all about having fun."
And the reception: “They stood and cheered…
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Every NFL team is now worth *at least* $4 billion. Folks, there is no legitimate justification for taxpayers to ever subsidize an NFL stadium. None, zero, zilch.
Wild. In just a few years, the average value of NFL teams has increased by $2 billion. Every team now worth at least $4 billion. New valuations from
@kbadenhausen
👇🏾
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Believing a baseball team brings jobs and economic development to a community is like believing vaccines cause autism. If you actually think this is true, you are buying into a deranged conspiracy. Pick up more tin foil next time you're at the store.
BREAKING: The Oakland Athletics have zeroed in on Southern Nevada, signing a binding purchase agreement for land just west of the Strip where a major-league ballpark could be constructed.
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This is because if one owner shows it can fund its own stadium then other owners can too. It's a grift, folks. You've got to start standing up and saying no and voting out representatives who support stadium subsidies.
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We have a new champion for the worst stadium deal ever. $1.26 billion in public money just for the stadium, which doesn't include the cost of a yet-to-be-built publicly-funded development needed to fund the project. All yes votes should feel embarrassed.
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Without noting the irony, John Smoltz just said that teams with the best starters usually go on to win the World Series.
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Again, there is no legitimate economic reason for taxpayers to subsidize professional sports teams. None.
As vote on NBA arena approaches, here's how much the state has paid OKC Thunder in incentives
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$1.26 billion in taxpayer funding
$760 million → $2,700 per Nashville household
$500 million → $190 per TN household
All for this luxury palace for rich people. This is not a legitimate function of government.
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I'm going to go out a limb and suggest that vetoing free breakfast for children while handing over $380 million of taxpayer money to a trust fund billionaire is a really bad look.
Bills vetoed by Gov. Joe Lombardo late Friday include a raft of housing bills that would have added new tenant protections and a bill funding universal free school breakfast and lunches.
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Requiring cars (or any product) to be sold through a middleman is straight-up graft. It serves no legitimate economic purpose. None.
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Imagine you're the guy around the office who does everything. Nothing gets done without you. Every now and then you forget refill the coffee pot and everyone is mad at you.
#Acuna
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21 professors at Oklahoma universities, all with PhDs in economics or finance, oppose the proposal to publicly fund a new arena for the Oklahoma City Thunder. Includes signatures from professors from OU, Oklahoma State, Oklahoma City University, and UCO.
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In what other industry does the CEO say his biggest disappointment is that taxpayers didn't bail his company out?
Gary Bettman: "My biggest disappointment is that the referendum failed in Tempe."
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We were told COVID would go away after the election, but the election didn't even go away after the election.
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When you reboot in safe mode.
BREAKING:
@SenatorLoeffler
announces she is withdrawing her objection to the certification of the Electoral College result.
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@andrewamendola4
@jc_bradbury
I was the economist who claimed Buffalo was the worst ever. But records are meant to be broken.
Congratulations to Nashville for being the new dumbest stadium policy folks in the country!
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To mark the 5-year anniversary of Truist Park, I have just released a comprehensive report on its economic impact. We were told it would be a home run. It's more of a pop-fly: Net cost to taxpayers of $15 million/year → -$50 per household/year. 🧵
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I referee a lot of papers. If I got a hoax paper designed to test whether I was doing my job, I would not consider it to be a waste of my time. Testing a fraud filter is not fraud, it's how you test fraud filters.
#SokalSquared
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My favorite Econ 101 lecture is the one on how the President of the US sets gas prices. Man, students never forget that one. Probably one of the most important lessons we teach.
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I wonder how members of the Nevada legislature who voted for the A's stadium feel about the public admission that they were duped, after the fact.
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The Mayor of Atlanta had to wait EIGHT days to get COVID test results. Yes, there is a shortage of testing.
We FINALLY received our test results taken 8 days before. One person in my house was positive then. By the time we tested again, 1 week later, 3 of us had COVID. If we had known sooner, we would have immediately quarantined. Perhaps the National Guard can help with testing too.
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I heard David Perdue and Kelly Loeffler planned to attend the World Series tonight, but they couldn't because Trump lost their seats.
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The Titans never threatened to leave, and the current venue is just 24 years old. Billionaire owners simply asked for $1.26 billion for a new stadium that suits the tastes of their wealthy customers, and elected leaders handed it over. This is deal is so bad it's embarrassing.
After a long and confusing meeting, Nashville's council approved a $2.1B deal to build a new, enclosed Tennessee Titans stadium.
@rachelannwegner
and I summed up the deal, tonight's public comments and the final votes for
@Tennessean
:
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Blue Jays president Mark Shapiro says the quiet part loud, saying what team owners don't want to admit: it makes perfect economic sense for teams to pay for their own stadiums. If politicians stop subsidizing them, teams will fund them on their own.
As sports teams grab billions in taxpayer funding for stadiums, Blue Jays president explains the strategy behind Rogers Centre renovations
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I'm not sure that "trading accusations" is the right way to frame Thao describing what happened, while supplying receipts, and Manfred obviously lying about it in response.
MLB commissioner Rob Manfred and Oakland mayor Sheng Thao are trading accusations and recriminations over the A’s move to Las Vegas and the city’s Howard Terminal ballpark proposal.
But to what end?
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When a stadium deal passes, folks often ask me what else they could've done. The answer: absolutely nothing would've changed the outcome. There was never really a debate. Most deal supporters know it's not fiscally sound. The reality is that they never cared. It's not your fault.
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@joonlee
Manfred played a direct role in hiring Andy Zimbalist to attack (pathetically) my peer-reviewed research (which I summarized for a general audience as a public service), that demonstrates the exact opposite of what he just said.
To mark the 5-year anniversary of Truist Park, I have just released a comprehensive report on its economic impact. We were told it would be a home run. It's more of a pop-fly: Net cost to taxpayers of $15 million/year → -$50 per household/year. 🧵
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John Fisher and Dave Kaval are openly admitting that they're welfare queens. If I was a Nevada legislator who voted for the deal, I'd be super pissed. They're rubbing your face in it.
Dave Kaval says that revenue sharing is important for the A’s—and now they’re planning to move to Las Vegas where they’ll get more of it by being in a smaller market. Just in case you think they’ll invest in the team once they get the ballpark.
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To journalists covering stadium subsidies: please stop writing that economists are "skeptical," "not convinced," or "question" that stadiums have economic benefits. Economists have unambiguously demonstrated they do not. There is no debate over this. Language matters.
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Economists: Decades of research shows stadiums have almost no economic benefits, bc sports spending is reallocated local consumption.
Yokels: But what about all the tax revenue generated?
Economists: Yes, we totally forgot to consider the first thing that popped into your head
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Community saves $1.97 million by not having to host MLB All-Star Game.
A Cobb County spokesman said that the county has only spent about $30,000 of the $2 million it approved last month for e...
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If we've learned anything from the Dodgers, it's that in order to compete in today's MLB, you need to have a new stadium with a mixed-use development so you can afford the top free agents.
Shohei Ohtani's deal with the Dodgers is for 10 years and $700 million.
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Let's rename the Lester Maddox Bridge after Johnny Isakson. It would be a great way to start the next General Assembly on a positive note that would likely get bipartisan support.
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Sports writers who don't understand that game-related spending is mostly reallocated and displaced local spending probably shouldn't be calling out economists.
Economists who say stadiums don’t generate revenue for cities should check out Cleveland with the Guardians hosting the Yankees in the playoffs and Browns/Pats tomorrow. Sure, 100,000 people were going to come to downtown Cleveland this weekend w/o the games.
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The blunt reality of modern pro sports fandom: rich people go to games; poor people watch them on TV. Stadium subsidies are regressive wealth transfer programs.
It sounds a lot less noble than optimizing “fan experiences,” but it would be more honest to say: We’ve decided only to sell tickets to rich people, and everyone else can either watch at home or pay to watch in our sports bars.
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When the city's mayor is telling the sports team it's time to go, I think it's just about over.
NEWS: Las Vegas Mayor Carolyn Goodman told FOS that she believes the Oakland A’s plans for the Tropicana site don’t make sense—and that the team should stay in Oakland.
Listen to the full conversation »
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Our comprehensive survey of research on the economic impact of teams and stadiums is now published in (appropriately) Journal of Economic Surveys. Long story short: teams and stadiums are not drivers of economic development.
@dcoatesecon
@humphreys_brad
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The proposed OKC arena deal is one of the worst I've ever seen. Whoever negotiated this for the city is either incompetent or an agent/sycophant of the team.
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Y'all, I'm f'n done. If you think stadiums are good public investments, provide evidence or STFU. I can't respond to your theoretical assertions or potential exceptions that exist in your sports fantasy land. I've put plenty of evidence out there. The burden of proof is on you.
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The A's temporarily relocating to a minor-league ballpark in Sacramento, while its move to Las Vegas remains tenuous, is just flat out embarrassing for MLB. I didn't care for Bud Selig, but even he (who wanted the A's out of Oakland) wouldn't have let this happen.
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I put the A's move to Las Vegas at 20%.
A Bally’s Corp. executive said Wednesday there’s no urgency in developing plans for a resort attached to a Major League Baseball stadium being built by the Oakland Athletics on the Tropicana site.
DETAILS:
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My answer to the question "why are MLB owners allowing John Fisher to do this?" is that owners value the freedom to do what they want with their own teams. They're predisposed to allow other owners to be jackasses, bc that's one of the perks of being a billionaire.
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It is unconscionable for any media member to report economic impact estimates from Jeremy Aguero. Totally unacceptable.
The total economic impact of visitor spending of Super Bowl 58 in Las Vegas was $1B, according to Jeremy Aguero of Applied Analysis.
#vegas
#SuperBowl
#nfl
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I won't be surprised if the Sacramento deal falls through, or is delayed. I'm not sure how MLBPA will approve this without major upgrades to the facilities, and I doubt Fisher is willing to shell out the dough needed to do so quickly.
The A's temporarily relocating to a minor-league ballpark in Sacramento, while its move to Las Vegas remains tenuous, is just flat out embarrassing for MLB. I didn't care for Bud Selig, but even he (who wanted the A's out of Oakland) wouldn't have let this happen.
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Where do people get the confidence to say such obviously incorrect things out loud?
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Nashville's community opposition to the Titan's stadium deal is just crushing it. I am seriously impressed. Nashville residents should feel lucky to have such caring, passionate, and determined community members. It may still pass, but any CM voting yes will feel guilty about it.
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People outside GA might not be aware that the state's Republican party has been having an internal war for a while. It's why Collins challenged Loeffler. Former Gov. Deal and current Gov. Kemp are not allies. Lots of bad blood and disagreements that haven't been settled here.
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Every principles of economics text should have two pages like this. Thank you
@BetseyStevenson
and
@JustinWolfers
.
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🚨 Just posted: The Economics of Stadium Subsidies: A Policy Retrospective with
@dcoatesecon
and
@humphreys_brad
. We provide a review of policy issues surrounding stadium subsidies. 🧵
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This is why all stadium proposals should be considered directly by voters through referendums. There is no reason not to do it, and having municipal councils decide gives subsidy beneficiaries more influence. You can't fit a majority of voters in the owner's box.
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It's inappropriate to describe stadium deals as "public-private partnerships". That makes it sound like a business partnership, where joint investors share risks/profits according to their investment shares. With stadiums, public pays and owner keeps the revenue. It's a subsidy.
@craigcalcaterra
In
@StPeteFL
w/
@RaysBaseball
'public/private' partnership is often used, w/o shared risk or shared revenue. Taxpayers risk a $2.4 subsidy, w/o accountability to promised Rays economic impacts. And yet the Rays get all the upside on revenues.
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Lobbyists versus teachers is a really bad look. Seems like some folks are really scared about this going before voters.
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I think I'm going to be sick.
"A state-funded academy to train Amazon’s employees. An exclusive lounge - with free parking - at the world’s busiest airport. An Amazon-dedicated car on MARTA. And more than $2 billion worth of publicly-funded incentives."
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@nohomerun2024
I'm doing my best to make it a trend. The only way to do it is to punish leaders for catering to a small insider constituency offering lots of perks. The Governor appears to have gotten the message.
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Nevada has 1.14 million households. That means a $380 million stadium would cost each Nevada household $333 to build the A's a new stadium.
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LOL! Trump way out in the outfield of the second deck. Carter always gets seats right next to the field.
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Thank goodness for all the volunteers who allow the NFL to put on this important not-for-profit charity event.
Atlanta had 32k people volunteer for super bowl week, an NFL record. Of that, 10k people were chosen.
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Economists have been trying to stop stadium subsidies for decades, but we suck at it. It's grassroots fan efforts that are leading the charge to push back against billionaire owners. Keep up the good work!
The A’s are headed to Las Vegas, but Oakland fans are still fighting for their team.
@DmoWriter
on what they hope to accomplish:
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This is how all media organizations should approach reporting economic impact numbers. Thank you,
@LVSportsBiz
We have new policy on posting economic impact numbers released by teams, sports events. We aren't running impact numbers unless teams/events explain how numbers are reached. Our story on why it's not responsible journalism to blindly publish these numbers
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Yeah, this is totally made up. Stadium-created incremental revenue that can be reinvested in schools has never happened before.
Here's
@EvanDrellich
delivering a Q&A with A's president Dave Kaval following today's MLB relocation vote. Lots of stuff about next steps.
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I'm pretty knowledgeable of past stadium deals. The Nashville/Titans deal is the worst I've ever seen. It's not close. That's saying something.
Nashville council member Brett Withers just called the Titans' $2.2B stadium deal one of the best negotiated deals that the city has ever had.
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Looks like someone who's smart enough not to support using taxpayer funds to build an NFL stadium.
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Well, fitting a ballpark with an 18 acre footprint on 9 acres is going to be difficult.
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No. The correct answer is no.
Busch Stadium needs renovations. Should St. Louis taxpayers kick in?
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There is no market failure justification for public subsidization of professional sports venues. Players are earning millions. Owners are earning billions. These aren't marginal ventures barely skirting bankruptcy. Enough.
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Don't be surprised if MLB owners don't vote on the A's relocation to Vegas at their upcoming meeting. The publicity is very bad for all the other owners seeking public funding for their own venues. It's providing a great forum for presenting the clear cut case against subsidies.
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It's negligent for a state legislature to be making a $400 million decision based on the testimony of someone who isn't an economist and is being paid by the A's. It would seem more appropriate to ask an outside economist with relevant expertise to testify.
Several state lawmakers expressed staunch opposition to a public financing package of up to $380 million for the proposed Oakland A’s baseball stadium in Las Vegas, as lawmakers kicked off a special session Wednesday.
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I've seen the report. Whoever did it is a complete idiot.
Economists hired by the city say the proposed arena in Potomac Yard will create thousands of jobs and billions in revenue across the state. The summary of their financial analysis was posted late Friday night before the Christmas weekend.
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We all deserve some grace when making good faith mistakes, but if you're an elected representative with decision-making authority over the power to tax, it's gross negligence to not understand the basics of public finance.
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"There is no Oakland offer. OK?"
Why on earth should a public entity be expected to fund a facility for the private business operation of its billionaire owner?
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Chip Caray just described the Marcell Ozuna situation as "injury limbo."
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Finally, Las Vegas is getting a venue that can host a variety of events.
A’s President Dave Kaval on ensuring their planned LV ballpark is versatile and able to host a variety of events outside of baseball.
#vegas
#athletics
#mlb
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I remain baffled as to why
@GeorgiaTech
's success has not garnered more attention.
Update:
@GeorgiaTech
just passed 1 month with <1% positivity in asymptomatic
#Covid19
surveillance tests.
A testament to collective work by students, staff, and faculty to integrate weekly testing as a social norm to keep the community safer for all.
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"I'm sorry it didn't work out" is a strange way of saying, "Why didn't taxpayers build me a new stadium for my private business?" These people are shameless.
Few takeaways from my
#JohnFisher
intvw:
- wasn’t expecting him to be so candid/revealing
- Says he will not sell (even after moving to LV)
-
@Athletics
submitted formal application to
@MLB
to move
- vows to retain good players once moving to LV. Full story at 6p/7p
@nbcbayarea
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MLB owners aren't mad at Rob Manfred for being a prick. They hired him because he's a prick. They laugh when he drops those digs. A perk of being rich is that you don't have to conform to social norms of politeness. Not every owner thinks this way, but most do.
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This is false. The University System of Georgia is absolutely NOT doing everything it can. A COVID vaccine should be required for in-person classes or to live in student housing just like it requires for other diseases.
The University System of
#Georgia
is doing everything it can to prevent the spread of COVID-19 short of imposing a mask mandate, the system’s acting chancellor said Thursday.
#Atlanta
#Education
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