Monday, January 07, 2008

Corporate welfare -- brass tacks

Sam Zell and John Canning's little scam of the state of Illinois actually made it's way into the national media today. The Washington Post ran an article today about the potential sale of Wrigley Field to the state of Illinois. Here is a link to that article. There is very little new in the article. Some bullshit from ISFA spokesman Doug Scofield is laughable though:

"Potentially, the benefits of public ownership are an ironclad guarantee of keeping Wrigley as the Cubs' home, which is good for the state and the city," Scofield said.
LMAO. Where are the Cubs going people? Anyways.

The best comment in the whole story comes from the author Kari Lyderson:

The arrangement would probably raise the Cubs' asking price significantly. That is because the buyer would not be stuck with the field renovation, which is expected to cost hundreds of millions of dollars.

That my friends is the brass tacks of this whole thing. Zell will sell the Cubs at a premium if this deal goes through. That is why this deal is so important to Zell, Canning and the politicians that want their money and support.

Corporate Welfare is little series for the crappy/unpopular. If you wanna see the past rants on this proposed idea and why it is bad for the taxpayers, here they are:

Corporate welfare -- December 21, 2007
Corporate welfare (continued) -- December 23, 2007
Corporate welfare -- Daley changes his tune -- January 3, 2008

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