re: ‘Power ring’ advertising system for Copps Coliseum
After reading about downtown Coun. Sam Merulla’s motion to give Copps Coliseum a “power ring,” the first thing that entered my mind was that old comic book hero who had one, turned him into a super hero, like Superman.
Upon further investigation it turns out that the power ring is comprised of LED advertising panels, like big-screen TVs. This will allow Live Nation, the private company council picked to run Copps Coliseum, to rake in huge advertising revenue from sponsors involved with hockey, the Bulldogs or any other Live Nation client.
Sam seems to think this expensive frill, that only benefits Live Nation, will magically reap benefits for Hamilton taxpayers, whose money he plans to use to pay for this equipment.
This is not capital infrastructure like sewers and water pipes, something people actually need.
Furthermore, who put the bug in Merulla’s ear over getting taxpayers to foot the bill for this equipment, unlike Carmen’s, who have invested a similar amount to spruce up the convention centre, so they can run it without taxpayers subsidy?
Furthermore, who put the bug in Merulla’s ear over getting taxpayers to foot the bill for this equipment, unlike Carmen’s, who have invested a similar amount to spruce up the convention centre, so they can run it without taxpayers subsidy?
Council went further and will cover any losses, verified by the audit department. This is the department at city hall that missed the alleged theft of millions of dollars by an employee over nine years.
Taxpayers can be thankful, as council has deferred this motion to find out how much revenue the taxpayers will get for this investment. Amen to that.
Mark-Alan Whittle
Hamilton Mountain
Hamilton Mountain
1 comment:
Sounds a lot like London's Downtown arena (formerly the John Labatt Center) which was supposed to bring business and revenues to downtown, but instead brought profits to the US based private partner and a $4.5 million/year burden to the taxpayer, who is carrying the interest costs of building the turkey in the first place.
London city council also spent millions for a downtown convention center, which has cost the taxpayer vast sums over the years (subsidies ranging from $500,000 to $1.5 million, depending on the year), as well as over $100 million in other assorted "investments" in the downtown core, which actually caused the assessed value of the property to drop by $60 million!
If ideas like downtown areanas or "power rings" had any actual validity as business plans, then they would have been built long ago and with private money. Any time you hear a call for a downtown arena, convention center, performing arts center or other "project" or "investment" that is to be funded by taxpayer dollars you can be sure there is no business case and the end result is to transfer taxpayer dollars to some government or bureaucratic crony.
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