Just to sort out a few of the things people have said in this thread:
1) Freddie Mac and Fannie Mae were NOT backed by the government; both were private corporations instituted by US congress. In the end, the U.S. government had to step in to prevent them from going bust and throwing the US mortgage market into even greater turmoil.
2) A funny thing about the Efficient Market Hypothesis: When Eugene Fama (one of the co-authors of the theory) opened his lecture on the subject, the first words out of his mouth were "Everything I'm about to say isn't true." Yet for some reason that was not covered in my university finance courses.
Unlike the physical sciences, where statistical modeling is far more predictive, there is some evidence that the 'fat ends' of the bell curve (which most quantitative trading methods have used as a basis) should have extra weighting due to the effects that investor panic/exuberance can have on the systematic risk of the market.
While government intervention can affect the efficiency of the market, so can corporate fraud, price fixing, stock manipulation, ....
Anyways, back to the topic at hand.
Unless Katz is using the price increases to pay the city back for money that's gone into the construction of his own personal play toy/speculative real estate play, city council was duped and Darryl just lined his pockets at the expense of the Edmonton taxpayer.
Remember the days when Edmonton was just two mud huts along the riverbank?
Things change, cities grow. It's called progress in other parts of the world. One way or another, you either progress or digress, or you sit stagnant. Edmonton should be proud of all the development going on right now. I read somewhere that Edmonton is the second fastest growing city in North America right now.
If it's not Katz building an arena then it's an Arts Gallery, or Winspear, or a twisted bridge. I remember back when there was lots of opposition to a new mall being built in the west end and that turned out ok. I would suggest that rent in West Ed increased year by year which would have been passed on to the consumer much like Oiler ticket prices. But everyone had a choice to shop at another mall.
Still 2008th in line in the registry. I don't think I've moved a spot since January.
Still 2008th in line in the registry. I don't think I've moved a spot since January.
Wow ok, so if the city's funding for projects is so finite and if not used on the arena it would be used on other projects of equal or greater value, provide for me these sources that show that the city had a choice between projects and chose the "lesser" in the arena to the detriment of city itself because if not then your pie in the sky argument holds zero weight.
OK, I'll play. Construction costs still have to be paid in increments as the Arena project goes on. This money is fronted by the city through finite access to low interest loan it has. Part of this is going to be repaid by Katz, part theoretically by the CRL. That's all fine and good but this is a .5B buck project which represents a significant investment by the city in initial outlay and with CRL benefit not incurring until a later point. So this is, despite what your city is trying to tell you, an impediment to starting other projects because the city has to tow the line on expenses in any given fiscal year.
But heres where the Arena investment makes less sense. Other investments, cough, proposed LRT lines, are tied to provincial/federal funding support. meaning that the cities outlay on those projects is dollars well spend because a good share of those projects will be borne by federal, provincial funding. Such things as LRT funding are also more the typical domain of what a city is supposed to be funding in terms of infrastructure.
Next, everybody benefits from increased and viable improvements in transportation. Drivers benefit through less traffic as more people take LRT than busses, More people make the public transit switch which limits needs to continually increase roadway/arterial infrastructure. ETS passengers benefit, students benefit, seniors benefit, property taxes near stations go up in TOD's and everybody is impacted positively by this. Make no mistake the City could have started the LRT lines to Millwoods and Lewis Estates instead of first going ahead with the Arena funding. So its a source of frustration that a line promised to Millwoods as early as 1979 is still on the cue list. Perhaps ironically that was so long ago that Rexall was still a new arena at the time..
So I'll always be a little salty about this. Especially as I was told by the past City Council, and my Alderman that the LRT was the Number 1 priority. In fact Sohi vowed several times that he was ardently opposed to public funding of an arena and would vote against it.
I was under the assumption that the LRT expansion was well under way and to be implemented in phases. Not to mention the expansion to Kingsway goes past the arena of which is the partial cost/investment from the city. Correct me if I'm wrong there. Granted there have been promises since a long freakin time ago regarding the LRT, I highly doubt the delays have had anything to do with arena district and more to do with the unwilling participation of the province and by local political powers that don't want to be 'that party' which spends the money, even during the oil rich times. I think your frustration is misplaced in that regard. No one disputes the benefit of better public transportation. Tying the LRT into the arena district and using it to cause a divide sounds like typical pandering by typical politicians.
That still doesn't mean that without the arena project the LRT would magically be built instead. I think it would have been disingenuous to propose one or the other either, which is probably why it never was proposed that way. Still doesn't answer the question of which projects were abandoned because of the arena.
Just got my renewal Package
My seats went from $4910 (109.11 per game) last year to $5248 (116.62 per game) about 6.5%
I don't know 2014 pieces for other areas but here are 2015 prices. Someone can fill in the 2014 that would be appreciated.
Colonnade 2432
Terrace 3576
Exec terrace 5143
Executive 5248 last year 4910
Silver 7709
Gold 8730
I also pay full amount in advance and receive a 2% discount plus $100 in oiler bucks per seat.
I read an article/saw a picture on Puck Daddy that the season ticket renewal package is a golden envelope like the one EDM won for drafting the first overall pick. Or at least looks like the card anyways. That's a little strange, but pretty fun at the same time.
Still 2008th in line in the registry. I don't think I've moved a spot since January.
Was able to see the renewal package and compared the prices to last year and here are the % increases
Gold Club 6.0%
Silver Club 7.0%
Executive 7.0%
Executive Terrace 8.0%
Terrace 7.0%
Colonnade 8.0%
Gallery 8.0%
Standing Room 8.0%
So those are the increases in an old building and after the worst season ever.
Next Year??? I would suggest season ticket holders tighten up their chin straps!!
Still 2008th in line in the registry. I don't think I've moved a spot since January.
Trust me I've followed both developments for seemingly forever. The Arena got the headstart nod and the LRT, with funding largely in place for the Valley line is on an ongoing basis just 2 yrs away. Ask yourself why construction in Earnest isn't starting until 2017. Really this could be green lighted immediately except the city, with a new council wanted to hold the line on current expenditures a significant one of which is the new Arena.
Anyway thanks for reading.
Do define 'constrcution in earnest'? The only quid pro quo on that one is in your mind. No guarantees the LRT line construction would have gotten bumped up with the a new rink not being built. The major problems with the LRT system dates back to the 70s with whoever the urban planners were at the time who envisioned massive growth in the northeast.
Your post still ignores your mis-stated and unsubstantiated point that the rink is 'taxpayer funded' ergo that should somehow impact ticket prices.
Just got my renewal Package
My seats went from $4910 (109.11 per game) last year to $5248 (116.62 per game) about 6.5%
I don't know 2014 pieces for other areas but here are 2015 prices. Someone can fill in the 2014 that would be appreciated.
Colonnade 2432
Terrace 3576
Exec terrace 5143
Executive 5248 last year 4910
Silver 7709
Gold 8730
I also pay full amount in advance and receive a 2% discount plus $100 in oiler bucks per seat.