Here's something you might be interested in.
The weekend edition of The Wall Street Journal (Oct. 13-14) shows how the convention center industry keeps expanding into a glut. Although leisure travel has recovered from the deep recession, convention business has not made similar gains, says the Journal. A chart tells the story: since the year 2000, convention center space has grown by 35.4% while attendance has dropped by 1.7%. Thus, to stay competitive, convention centers are cutting prices; convention planners can wangle very good deals, notes the Journal.
The weekend edition of The Wall Street Journal (Oct. 13-14) shows how the convention center industry keeps expanding into a glut. Although leisure travel has recovered from the deep recession, convention business has not made similar gains, says the Journal. A chart tells the story: since the year 2000, convention center space has grown by 35.4% while attendance has dropped by 1.7%. Thus, to stay competitive, convention centers are cutting prices; convention planners can wangle very good deals, notes the Journal.
Yep- giving away the taxpayer farm is really paying off...NOT.
But when you're using OPM, who cares, more moral hazard.
SurfPup: The situation is amazing. The same consultants keep telling cities to build a new convention center or expand the old one. The consultants ignore the glut; after all, they are paid to recommend what the people paying their bills want, which is more convention space at taxpayer expense. Each city decides that it is "special," and not influenced by national trends. Everybody keeps digging a hole, even though these statistics have been available for years. Best, Don Bauder
Yes, it is EASY to spend money when it DOES NOT BELONG TO YOU..... and you have no respect for it, or accountability.
If the people/Gov idiots who did these deals had their OWN skin int he game, even a small % then the scam would not go down...........
SurfPup: You are right again. When the government picks up all of the tab, there is no accountability. When the government picks up MOST of the tab, such as in so-called "public private projects" (a euphemism for corporate welfare), the dynamics are the same. No accountability. Best, Don Bauder