Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I think this got pretty well hashed out in the last thread... Honestly what is doing well right about now that's involved with discretionary income? Look at concerts. I guess you can take exception to not meeting the projections, but in that regard it's just the tip of the iceberg.
I didn't realize that the NASCAR HOF was something that was new (yes, I'm new to town). I guess the attendance numbers seem to support the theory that people attend and watch NASCAR events for the party, and not necessarily the people driving in circles for 4 hours?
The new news is that it attendance is well below the new set of official lowered expectations for attendance given by the city once it became apparent their original projections were woefully wrong.
The reason it is important is the city took on a considerable amount of debt and on going expenses and their budget numbers have now fallen apart. There is only one place they can go to make up the shortfall which is the city property tax. The word of the day for this is municide. It probably wouldn't be so bad except they have dozens of these boondoggles to account for now.
When all the projections were done several years ago, people had money. The economy was not in the toilet. These things are also very hard to predict. And if you're a NASCAR fan, you've noticed that attendance at races is VERY VERY VERY LOOOOOOOW. Indy was about half full a few weeks ago. There's actually tickets available for the Bristol night race....that hasn't happened in like 20 or more years.
Racing isn't a necessity of life unless you're a racer and that's how you make a living. IF not, then you're not spending the $1,000 plus a weekend can cost. Who has a job right now to do it? I know I haven't gone to a race in 2 years because of $$$$$$$$. And I went to 6 in one year a few years ago.
and not necessarily the people driving in circles for 4 hours?
There are no circular tracks in NASCAR competition. But this does expose your near complete ignorance and obvious disdain for the sport. That's OK. Everyone is allowed their opinion.
Quote:
Originally Posted by ss20ts
Racing isn't a necessity of life unless you're a racer and that's how you make a living.
There are almost no occupations that are a necessity of life. But if living was only about necessity, it wouldn't be called life. It would be called existence.
Great post Unemployment is still high in Charlotte & America Attendance is down the last 2 years at most of the other Sports Venues In Charlotte.
You are correct those projections where made when the economy was decent.
The NHOF is here to stay . The comment about going around in circles
apparently didnt watch the race this past Sunday on ESPN
in Watkins Glen, New York http://fanzonesports.net/nascar/wp-c...s-glen-map.jpg
Quote:
Originally Posted by ss20ts
When all the projections were done several years ago, people had money. The economy was not in the toilet. These things are also very hard to predict. And if you're a NASCAR fan, you've noticed that attendance at races is VERY VERY VERY LOOOOOOOW. Indy was about half full a few weeks ago. There's actually tickets available for the Bristol night race....that hasn't happened in like 20 or more years.
Racing isn't a necessity of life unless you're a racer and that's how you make a living. IF not, then you're not spending the $1,000 plus a weekend can cost. Who has a job right now to do it? I know I haven't gone to a race in 2 years because of $$$$$$$$. And I went to 6 in one year a few years ago.
Cities that use municipal debt to subsidize expensive private projects often get into fierce competitions for the privilege of subsidizing them. Atlanta and Charlotte, for example, recently unleashed a bidding war for NASCAR’s Hall of Fame—a private enterprise. Atlanta assembled a $90 million package that included $32 million in subsidies, largely from economic-development debt issued by Georgia. But Charlotte pols—desperate, according to the Charlotte Observer, to “secure a one-of-a-kind attraction that finally answers the question: What’s Charlotte got that makes it different from any other city?”—trumped Atlanta with a $154 million bid, promising to build the museum by issuing bonds and to service the bonds with funds from a new hotel tax, despite an economic-development study’s conclusion that increased annual tourism from the venture wouldn’t equal what a single NASCAR race generates.
The price tag for the Hall of Fame quickly rose to nearly $200 million, and Charlotte was on the hook for all of it. Further, back in 2006, when Charlotte had made its bid, the city was on a roll, with budget surpluses and plenty of ability to issue debt and pay for it; but after the worldwide financial-sector meltdown, Charlotte, a regional banking center, watched unemployment skyrocket from under 5 percent to 12.8 percent, laying waste to tax collections. The city has already had to dip into a reserve fund to pay the debt service on the just-opened Hall of Fame. As the head of the Charlotte Chamber of Commerce observed, “It is a new decade and Charlotte is not the same. Unemployment is stubbornly high. The real estate market is anemic. Public revenues are challenged.” Yet he also argued that there was room for optimism. Why? Because of expensive new projects like the NASCAR Hall of Fame!
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.