In case you were in San Diego or up in the mountains and you missed all the ‘heat’ in Glendale last week, in addition to my previous articles [Economic Pixie Dust] I’d like for you to take a look at Laurie Roberts’ column from July 2, Just How Much Is Glendale Willing to Pay to Subsidize Hockey.
She opens with
The city of Glendale faces a doozie of a choice tonight.
Keep the Phoenix Coyotes and lose $12.9 million a year. Or let the team go and lose $10.9 million a year.
It only gets better from there.
Scottsdale would do well to heed these lessons from our twin to the west, as we consider subsidies to–for example–the PGA and Phil Mickelson…and especially as we consider borrowing another quarter of a BILLION dollars to drive our debt beyond even Glendale’s.
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But then again it’s only Citizen’s Taxes that is being lost.