Good grief - the delusional thinking surrounding this latest money pit is staggering and then depressing.
How much of its own capital - as opposed to the city's or that of various no-recourse lenders - is Loeb risking? Seeing as how they have been in business for longer than I've been alive, my guess is a number approximating zero.
They obviously drank Aubrey-laced Kool-Aid a long time ago. Their slobberingly heedless devotion to this huckster would not matter except that it has cost their "partners" billions and may end up costing them much more.
Perhaps they'll figure out a transaction allowing everyone to save face, but it's also possible that there is more unpleasantness to be revealed and that the company's ill-understood and vast off-balance-sheet exposures more than overwhelm the asset values of which Longleaf is so enamored.
This is an awful article. Is there a point of view? "Bowls are good for the cities that hold them" and "bowl officials make boatloads of cash" appear to be the only conclusions. Are these insights worthy of space, mental or otherwise?
Never mind that these bowl officials simply rehash the same tired events year after year and log about a month of what we ordinary folks would call work en route to their multiple six-figure salaries. Meanwhile, the participating schools tend to lose money on these games since the bowls charge them for unsold tickets and force them to pay transportation costs for their teams, bands, and so forth. It's tends to be good deal for the ADs and head coaches, who earn bonuses no matter how lame the event or costly to the institution. This explains the depressing proliferation of bowls featuring .500-level schools.
Finally, Erhart could not have come from the Colorado Rockies to the Showboats in 1985 because the Colorado Rockies didn't exist in 1985. Perhaps you meant the actual mountains, but the point is unclear at best.
I second DT's well-expressed sentiment. Jr. is a douchebag. NY voters are also dumb enough to be conned into voting for him. These factors - Jr.'s extreme douchebag-edness and, more specifically, an unctuousness that would embarrass used-car salesmen, along with the credulity of NY voters - should give him a depressingly strong chance. Plus, Gillibrand is remarkable for her unremarkability. She's a true Albany hack, who actually shares the aforementioned douchebag's legacy of capitalizing on political nepotism to scale the heights at a young age. About the only thing she has going for her is Chuck Schumer's advocacy. Given the general lameness and stupidity rampant in both the House and Senate, Harold will, of course, fit right in.
This past weekend I played tennis at Audubon Park. Maybe by playing some tennis, I reasoned, I might forget (a) that my property taxes were raised 75% when the sale price of my house has fallen by at least 20% or (b) that a good friend was recently shot in the head for no reason while walking his dog in our "family-friendly" midtown neighborhood.
After an invigorating match, I euphorically returned to my Honda Civic to find everything in it - including a recently installed $2K stereo - ripped out and stolen. The driver's side window was smashed out and the windshield was cracked for good measure. This all occurred betwenn the hours of 10 AM and noon this past Saturday. Good morning, Memphis!
A few months ago, my wife was robbed and pistol-whipped in the parking lot of Kroger's in Poplar Plaza. She was picking up a birthday cake for our three-year-old at 2 PM on a sunny Thursday afternoon and on her way to a yoga class. Serenity now!
I wasn't around here when this lunatic also known as the mayor was elected. The cognitive dissonance and disilluisionment experienced by aging liberals who were inspired by his pioneering rise must be shattering, even disorienting. Mr. Branston's commentary frankly reeks of such disorientation.
It's not all Herenton's fault, but just as leaders get to take undeserved credit for the triumphs they must also absorb blame for the failures. And Memphis is a failed city, probably beyond repair. The fish rots from the head. Stop apologizing for this despot.
My point is that if respected journalists are checking out and focusing on yoga rather than our broken public school system, pervasive crime, and dysfunctional politics, then there is no hope at all. "Participant sports" - and what sports are non-participant, by the way - may keep us "part of the community", whatever that means, but mustn't there first exist a community to be part of? Recreational idylls are symptomatic of a functioning society, not the other way around.
By all means, go play tennis, do some sweaty yoga, or take a bike ride through Shelby Forest, just remember to lock all your doors, carry minimal cash, and consider hiring an armed guard as accompaniment while you're at it. Less elaborately and more to the point, cop to the cop out and admit that you're giving up on what is a hopeless city.
That's the Gillilands' house.
Jim and Lucia Gilliland are friends and big supporters of Al Gore.
Al Gore sits on the Apple board.
By Joe Boone
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