Killion
Registered User
- Feb 19, 2010
- 36,763
- 3,215
I added an image of the projected city cashflows.
Thanks.
I added an image of the projected city cashflows.
LOL. So anyone who doesn't live in Glendale, like I do, shouldn't support the team and just shut up? Nice.
You mean the last year of Hocking? In that year the city has revenue of $60 mm and debt repayment and interest of $108 mm.
You live in Glendale, what you make of this? The fact that the CoG is basically forking over 500 MILLION dollars, over the next 25 years, and even the most optimistic parking forecasts show them losing tens of millions of dollars by the end of it?
Also, I think what he was saying-and it was actually to your credit living in Glendale, that those who don't live in Glendale will say "The Yotes are worth it", and not worry, because they are not going to be hit with possible future tax hikes, cuts to services, and general less quality of living like those in Glendale would be.
I took the CoG cost benefit analysis and added debt costs at 7.75%. I also overlayed the parking revenue numbers with the projections from Walker and Hocking.
...and then Thomson comes along and makes Balsille his pool boy!
Since the bonds have not been sold yet..... you can't claim something is fact when it isn't.
Please, oh please, tell me that there's some financial experty reason why adding a total column at the end wouldn't really give me the big picture. Because, when I do that, I see CoG losses between $278, 412 (under the 'optimistic' Hocking report) to $139.6 MM (under Walker-stagnant).
Tell me that can't be right, so I can pick my jaw up off the floor...you know, just in case I need it tomorrow.
Hope you like the color red, my friend
Hey guys I wanna buy a 10 plex to get some more rental income. The building costs 750,000. If anyone's interested I'm willing to lease the rights to the parking revenue in exchange for a fee. Uhh, when I looked at the current owners income statement he never charged for parking but I'm sure no one will mind paying a monthly fee for something that they once got for free. Like most of you, I have been following the Phoenix Coyotes situation and think Glendale is doing an amazing job at handling this situation. Since Glendale is willing to pay 58.8% of the cost of the Phoenix Coyotes, I'm willing to do a similar deal if anyone is interested. I'm willing to sell you the rights to rent my future 10 plex' parking lot out to my tenants in exchange for 58% of the cost of the building. This will a 1 time payment, so it won't be that bad. I'm looking for $435,000. Once I receive that money, I will put in an offer to purchase the 10 plex and we can start collecting some revenue!
Well message me if you are interested.
Thanks again!
GO GLENDALE GO!
Sweet. Im in if you'll sign over the building. I'll top up the tank & provide an additional $315,000 over 5yrs if you'll manage the multiplex for us, then sell it all back to you for a buck sixty six in 2016 if you'd like, or, we can simply continue on with the management agreement. Your choice.
Re-read my post. That wasn't what I said at all. Anyone who doesn't live in Glendale - and by extension, isn't a sucker - isn't paying for this boondoggle, but hey, if you want your city to go bankrupt, more power to you.LOL. So anyone who doesn't live in Glendale, like I do, shouldn't support the team and just shut up? Nice.
I love this idea! J. Wellington Wimpy is the man!One thread title I was considering was J. Wellington Wimpy's, "I'll gladly pay you Tuesday for a hamburger today."
The Winnipeg Free Press needs to stop toying with the hearts and hockey souls of Winnipeggers.
This, from our favourite "Tweetmeister"... who is presumably referring to a recent Winnipeg Free Press article that focuses on the difficulties in the municipal bond market (http://twitter.com/IceEdgeDJ).
Coming from someone who spent months toying with the "hearts and hockey souls" of Coyotes fans in Glendale / Phoenix.
I can't remember if DJ was a numbers guy too, of if he just handles the fluffing up pieces, aka PR?
Maybe they'd like to educate the poor souls on how bonds work. It would be so easy to dispel any notion that Glendale would be worse off with this deal with just a few lines of numbers.
(Or was that what Hocking was supposed to do? 9 page report vs 130-ish or so?)
Sure, size isn't everything. Compare the firms though...
Walker:
http://www.walkerparking.com/firm/
Firm is devoted to parking consultation with 45 years experience. Completed 8,000 parking projects. Largest parking consulting firm in the United States.
TLHocking:
http://www.tlhocking.com/ourapproach.php
Firm specialized in municipal finance and capital markets. Founded in 2001 by an investment banker. A google search of their website for the word "parking" returns one result.
LOL. So anyone who doesn't live in Glendale, like I do, shouldn't support the team and just shut up? Nice.
So those from elsewhere who pretend to care so much about an Arizona municipality issuing bonds to fund the retention of the Coyotes here