peck420 peck420:
shockedcanadian shockedcanadian:
I don't want the money in my pocket, I want the money kept in the coffers and/or used to pay down our debt which is a milestone around our necks and many generations going forward.
Getting millions of dollars of advertising for $500,000 will benefit Ontario's overall debt significantly.
$1:
Furthermore, this "goodwill" you believe Toronto and Ontario gets from the all-star game is a red herring argument. Toronto already won the all-star game. The money given to a large corporation that has a near sports monopoly in Canada was nothing more than theft. If they had been given money, no money, or had announced a special "all-star" tax (don't laugh, this is Ontario), MLSE was going to happily host the all-star game and profit handsomely for it.
I didn't even use the term 'good-will'. That would imply that it was free. It wasn't. Ontario paid money to MLSE to piggy back Ontario Tourism advertising onto the NBA all star game. They just saved Ontario millions in advertising costs.
$1:
Capitalism has been replaced with cronyism and future generations are going to pay a very heavy price for this.
Only if we force them to read your posts.
The $350B debt will go away on it's own. Got it. Nothing to see here, everything is A-ok.
Again, this is business 101. MLSE tells Ontario, "hey, we are going to bid on the NBA all-star game, when we obtain it, we will drive millions into the economy, you will get free advertising (as if noone knows about the city of Toronto) so a nice little handout for us, on top of our increase ticket prices and concessions, would be a great gesture for our hard work!".
If I am Premier; and any other free market Conservative economist, I tell MLSE, "We aren't running your business for you, and you aren't dictating how we use taxpayers funds. Bid on the all-star game or don't, we aren't in the sports business". Instead, Wynne tosses money around as if it grows on trees, and based on the horrendous management of this province, and the larger nation, too many believe this to be fact. Once again, do we know about the history of MLSE political donations or private discussions? Since none of us do, let's assume that any gifts such as this have to be scrutinized with skepticism.
MLSE estimated over $100M in business activity for the all-star game. Does this even include their own revenues realized? Who knows. What we do know is that it is a guesstimate and almost certainly overstated for the purpose of getting their handout. Disgusting to have some intervention in the free market, again, this among other activities will be our economic and social undoing.
Bloomberg wrote a great article about the 2015 NBA game, which was held in New York:
Was NBA All-Star Weekend a Financial Winner?
https://www.bloomberg.com/view/articles ... al-winner-Recent history shows that advance estimates tend to be wildly overstated. In 2010, the NBA All-Star Game held at the Dallas Cowboys stadium was projected to generate $268.5 million, including $152 million in direct spending by out-of-towners. Yet a review of tax receipts revealed that revenue in Dallas-area hospitality increased only slightly -- and for some areas actually decreased -- from the same month of the previous year. David DuBois, president of the Fort Worth Convention & Visitors Bureau, told the Dallas News that in his city, "the impact was in the tens of thousands of dollars instead of the estimated $6.56 million."
Read the full article to understand the point I am making, above and beyond the act that I am against corporate handouts from taxpayers. Taxpayers and concerned, patriotic citizens are sick and tired of being fleeced at every turn while those benefiting in one way or another try and paint it as a great deal.
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