Rockhill site going south fast it seems.

[Tbe]

1 hour ago, Ricky Spanish said:

Oh no, I read it, I just don't think billionaires should be making cities foot the bill for their shrines or practice shrines when they can afford it. It does not benefit the communities like they claim it does. 

 

Billionaires can’t make cities do anything. The cities do it willingly.

I don’t care what billionaires ask for. It’s the local governments who take money from people via taxes and give it to the wrong people.

[saX man]

Nothing really beats a West Village wine bar. 

[Ricky Spanish]

7 minutes ago, Tbe said:

Billionaires can’t make cities do anything. The cities do it willingly.

I don’t care what billionaires ask for. It’s the local governments who take money from people via taxes and give it to the wrong people.

Yeah you're not wrong which is just as upsetting, if not more so. 

[poundaway]

4 hours ago, CRA said:

I’m not protecting the NCAA.  I’ve said they sucked and where I think they have been wrong and still are wrong. 

The majority of college athletes and college programs aren’t raking in millions for their schools.   They aren’t profitable.   

does Bama football or Duke basketball bring in a poo ton of cash? Yes.   They don’t represent college sports in general though.   

so what is fair compensation/payment for a scholarship athlete (with athlete perks)….that plays a sport that puts the school at a loss?   Which is most of college athletics.   And they aren’t slaves.     They ain’t going pro either.  They got better deals than the rest of the student body as a whole though. 

*also coaches at public universities should have a cap in terms of salary.  

Discussing "profit" for a sub-organization in a structure that is itself a non-profit is naive.    None of them "make a profit"  genius. 

Is the cartel agreement among schools banning all payment beyond school costs just?  Here let me help you.  The moral answer is no. 

When a person is taken advantage of to point where they are being paid a pittance compared to their worth, it is called slave labor.  People who work in sweat shops are slave labor. 

Could they pay?  Yes.  Are they shlts because they won't pay?  Yes.  Yes they are.
 

[GRWatcher]

16 hours ago, Ricky Spanish said:

So all the people of Rock hill/York county were fine with giving the panthers tax breaks over the next 25 years where that money would go back to their city/county?

Cool cool. Glad they're all happy to forego millions in taxes for their community and have to pay for more poo/infrastructure out of pocket as it comes to the city thanks to the facility. 

Great deal. 

Let's look at the logic of your 2nd sentence. Because there is none. Yes, there will be millions in tax breaks but there will be millions, if not billions over the years, of additional tax collected that they wouldn't otherwise have. Taxes they don't collect now. And that infrastructure you're complaining about? It would eventually have to be built anyway even if for different projects. Are you actually advocating that Rock Hill's only value is being the gas stop for Charlotte and it should stay that way? I hope not.

The whole thing was a boondoggle from the beginning and yet everyone involved jumped right in without taking notice of where they'd land. The city backed out of what Tepper expected, what they promised, and now the county is trying to bail them out. I'll bet it gets to the state level before things start happening again.

[CBDellinger]

24 minutes ago, GRWatcher said:

Let's look at the logic of your 2nd sentence. Because there is none. Yes, there will be millions in tax breaks but there will be millions, if not billions over the years, of additional tax collected that they wouldn't otherwise have. Taxes they don't collect now. And that infrastructure you're complaining about? It would eventually have to be built anyway even if for different projects. Are you actually advocating that Rock Hill's only value is being the gas stop for Charlotte and it should stay that way? I hope not.

The whole thing was a boondoggle from the beginning and yet everyone involved jumped right in without taking notice of where they'd land. The city backed out of what Tepper expected, what they promised, and now the county is trying to bail them out. I'll bet it gets to the state level before things start happening again.

Tax payer funded stadiums and sports facilities are scam.  They rarely produce enough to make it worthwhile.  People over estimates the value of a sports team in their city.  A baseball team playing 81 home games has as much impact as a mid sized dept store.  The money is all in the TV deals.

I agree about it being a boondoggle tho.  And the state level is exactly what Tepper is after.  And it'll prob happen because the project is so far along and Tepper would prob bankrupt Rock Hill if he goes after them to recoup the 170 mil he says he has in it.

 

[GRWatcher]

2 hours ago, CBDellinger said:

Tax payer funded stadiums and sports facilities are scam.  They rarely produce enough to make it worthwhile.  People over estimates the value of a sports team in their city.  A baseball team playing 81 home games has as much impact as a mid sized dept store.  The money is all in the TV deals.

I agree about it being a boondoggle tho.  And the state level is exactly what Tepper is after.  And it'll prob happen because the project is so far along and Tepper would prob bankrupt Rock Hill if he goes after them to recoup the 170 mil he says he has in it.

 

Oh, I agree about publicly funded sports initiatives being a scam. The problem with this scam is that no one, including Tepper, went into it with their eyes wide open and they're getting exactly what they deserve.

[SizzleBuzz]

48 minutes ago, GRWatcher said:

Oh, I agree about publicly funded sports initiatives being a scam.

Definitely/always a poor decision -- occasionally ascends to the "scam" level. 

The "Cable Box" is a prime example of a complete-scam foisted onto the good citizens of Charloot.

54 minutes ago, GRWatcher said:

The problem with this scam is that no one, including Tepper, went into it with their eyes wide open and they're getting exactly what they deserve.

I have a hunch Tepper actually knew Rock Hill wouldn't be able to get the promised bond-issue off and made a calculated bet that the county/state would step in and backstop them.

The finances of Rock Hill are not at all complicated and Tepper would have access to any and all information on their borrowing ability and their chances of tapping the public markets for the promised funds...

...or not.

The single most valuable commodity globally is information...

...and nobody has a better network than Tepper -- he's not surprised by any of this.

[cookinwithgas]

A friend on the project says the lead time for ordering needed infrastructure components are measured in months, and they are not ordering them now. It will be a slog to resume construction once the funding gets straightened out.

[CBDellinger]

13 hours ago, SizzleBuzz said:

Definitely/always a poor decision -- occasionally ascends to the "scam" level. 

The "Cable Box" is a prime example of a complete-scam foisted onto the good citizens of Charloot.

I have a hunch Tepper actually knew Rock Hill wouldn't be able to get the promised bond-issue off and made a calculated bet that the county/state would step in and backstop them.

The finances of Rock Hill are not at all complicated and Tepper would have access to any and all information on their borrowing ability and their chances of tapping the public markets for the promised funds...

...or not.

The single most valuable commodity globally is information...

...and nobody has a better network than Tepper -- he's not surprised by any of this.

They absolutely knew that the city of rock was over leveraged and would have issues getting the bonds at a reasonable rate.  It was talked about in the media b4 the deal was made.  

 

 

[CanadianCat]

I dont live anywhere close to here and dont watch your local news, so Im unfamiliar with the situation. But reading the forum and a few news reports this is the gist I have gathered... correct me if Im wrong.

Tepper and Rock Hill make and agreement that if he builds this facility here, then the City will contribute to the tune of $250,000,000. The agreement is made and construction begins. Suddenly Rock Hill is unable to fulfill their obligation. Tepper gets mad that they reneged and stops construction. Now they are negotiating. 

This is 'mostly' the case? If that is, then I don't get the Tepper hate. 

[jamos14]

2 minutes ago, CanadianCat said:

I dont live anywhere close to here and dont watch your local news, so Im unfamiliar with the situation. But reading the forum and a few news reports this is the gist I have gathered... correct me if Im wrong.

Tepper and Rock Hill make and agreement that if he builds this facility here, then the City will contribute to the tune of $250,000,000. The agreement is made and construction begins. Suddenly Rock Hill is unable to fulfill their obligation. Tepper gets mad that they reneged and stops construction. Now they are negotiating. 

This is 'mostly' the case? If that is, then I don't get the Tepper hate. 

He is getting the hate for 2 reasons:

 

1.  His football team sucks

2.  He is worth 16.3 billion and has taken advantage of idiot local politicians and a poor tax base.  250mil is absolutely nothing to him.  Poor people should have never subsidized an office building for a dude worth 16 billion.

 

But yes, this is Rock Hill's fault, 100%.  Those politicians need to be voted out because this was always a horrendous decision on their part.

 

but fug Tepper for being a shitty NFL owner.  And fug him for taking advantage of a poor fan base.  And fug him for not firing Matt Rhule.

 

[MechaZain]

Tepper should buy the Epicenter with it under foreclosure. Prime real estate and it's practically gift wrapped for him.

[SizzleBuzz]

37 minutes ago, jamos14 said:

1.  His football team sucks

Relevant.  

 

38 minutes ago, jamos14 said:

2.  He is worth 16.3 billion and has taken advantage of idiot local politicians and a poor tax base.  250mil is absolutely nothing to him.  Poor people should have never subsidized an office building for a dude worth 16 billion.

Not relevant.

A deal is a deal.