IMAX SUBSIDY
Terry Hardy's article in the SacBee reports the City Council's dilemma over paying the $375,000 subsidy. Not a lot of money in terms of city budgets, but its still the peoples money and I wonder if its well spent. Doug Link, IMAX theater director said."The city outlay is money well spent" Of course he would say that it could be his job on the line. He went on to say . "The city is protecting its investment." What investment is that? IMAX attendance is at best less then half of the projections. Eight years and over $6 million dollars have not turned the Esquire Plaza project into the thriving entertainment district and never will. However I'm sure the City Council will go ahead and pay the rent, and ten years from now the Taskopoulos's will sell out for a tidy profit.
posted by pappy @ 11:05 AM
3 Comments:
I have yet to attend an IMAX movie, anywhere so its not a burning need for me and is not likely to get me to downtown Sac. Maybe $375 big ones doesn't seem like much to the City fathers, but I bet you could think of several more responsible holes to through the money down.
When the City starts screwing around with subsidizing this business and not that one, it makes one take pause and wonder why... why can't they let businesses fail or succeed, the way other businesses have to do. And whose interest are they protecting? And what is their motive...
The questions keep coming.
03 08 06
FJ is back and on fire! I totally agree. I don't think private businesses need accept a dime from the government at any level UNLESS they aren't really private companies!
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