Good! Haven't we learned anything from the Federal Government getting
involved with businesses? What were we going to call this hotel, GM? Lehmann
Brothers? How about Hotel Bailout?Stick to running the state, let
investors run businesses.
I hope people are ready for their taxes to go up.If Salt Lake County
and Salt Lake City can't come up with a way to get the Convention Hotel,
taxes across the state will go up to help plug a $40 Million dollar gap yearly
as Outdoor Retailer will be leaving the state.What is sad is that
this was a property tax bill. The State couldn't even let the developer
keep some of the money from the increase in property value to pay for public
items such as Parking, Infrastructure, Meeting Space and Exhibit Space.What is sad is that you will never find a developer that will build something
for the public without compensation. The Hotel itself was to cost just over
$200 Million. $100 Million (State, County and City) contributions were for
public items only. They had nothing to do with subsidizing a developer or
picking one over another.That is like saying building roads and
sewers is picking areas over another when it benefits everyone. No ones taxes
would have gone up with the Hotel but all will go up without it. Goodbye OR and any other large convention, Hello tax increases.
Such measures are how the wealthy use the public sector to feather their own
nests, hold cities ransom, whipsaw one city against another, and generally
increase Marxian surplus value (McAdams, look it up). This all shows how the
two major parties differ but slightly in their treatment of the great unwashed.
To Makid,Do you really think your taxes would not go up if this
hotel was built? The whole reason for building this hotel is to host the
Outdoor Retailers which come to the state for a short time twice a year.
Let's assume they stay an average of two weeks each time. That means that
for 48 weeks out of the year the hotel would be operating at less than full
capacity (as pretty much all downtown hotels operate now. With the hotel unable
to sustain itself for 48 weeks of the year, as well as taking away business from
the other hotels that have been in place for many years, we would see government
stepping in to subsidize all the hotels. That would increase your taxes!
Government does not belong in business in any way, shape or form - it is always
a disaster and the taxpayers pay for the mistake. Just look at the federal
government's bailouts, buying shares of GM and others, Obamacare, etc. and
see the nightmares that occur when government interferes with normal business
operation.If this hotel is a money making idea, why aren't major hotel
chains fighting to build it?
One example of how government and business don not mix is Murray City. Murray
decided it would be a great idea to get into the fiber optic internet business
with Utopia. Murray invested heavily in Utopia and had all city offices as well
as Murray School District and others connected to the system. Utopia was a flop
with the public. The costs for residential hookup are extravagant. Now, Murray sits with a contract to Utopia in the neighborhood of $2 Million
(or $2 Billion?) dollars for the next several decades in the future. Because of
this huge debt , Murray has not been able to afford raises for police, fire, and
city employees. There is a mass-exodus of our law enforcement and city
employees to work for other cities.So Murray has really fast
internet (if you can afford to connect to it) but the quality of their public
services is declining daily (drive through Murray and see the condition of the
roads.)Another example of why government should stay out of private
businesses - government is incompetent in the business industry.