Casino Ready!
The agency that runs McCormick Place and Navy Pier is deeply in debt because of a downturn in convention and tourism business and needs to overhaul its operations to climb its way out of the financial hole, a top official said Tuesday.
John Gates Jr., Mayor Daley's choice to serve as board chairman of the Metropolitan Pier and Exposition Authority, wasted no time in confronting the financial problems plaguing the agency known as McPier.
"We are not collecting sufficient taxes to pay our debt service. The spread is $34 million a year. We're going to focus on getting our financial and operating house in order. We'll be meeting in two weeks to advance that process," Gates said, after chairing a monthly board meeting.
Labels: city politics
posted by SCC at 12:03 AM
35 Comments:
There will be a Casino up and running at either Navy Pier or McCormick Place within 18 months--mark my words, heard it here first.
It makes sense, keep the gambling money here, instead of it going to Indiana.
And no sharing the money with the suburbs either! It is ours and ours alone.
Daley and his aldercrooks have made chicago a less desirable place to do business. TAX TAX TAX and REGULATE! There are many better places for companies to do business.
Even I didn't think they'd be so obvious this quickly in laying the foundation for their eventual argument that a casino is "necessary" to pull the City out of the red.
Shortshanks must have really gone overboard with the bribes, payoffs and promises that never materialized due to the failed olympic bid.
"Robbing Peter to pay Paul" will take on a new meaning of gigantic proportions before all is said and done in this latest Windy City fiasco.
"The agency that runs McCormick Place and Navy Pier is deeply in debt because of a downturn in convention and tourism business and needs to overhaul its operations to climb its way out of the financial hole, a top official said Tuesday."
Convention business is down not only due to the economy, but here in Chicago, the unions charge huge prices, and of course, some politician is always walking by with his hand open... This place needs an enema!
navy pier and mccormick place have a debt service--- does the illinois tollway authority still have a debt service too... remember the bullshit story when they first built the tollway--- when the bond issue is paid off it will become a FREEWAY... does the white house and pentagon have a debt service too--- the state of illinois now has a debt service, quinn just borrowed 2 billion to pay bills with no way of paying it back except you know how, raise everything across the board which means the working stiff pays and the leecehes get fatter....
This story reminded me of one of the machines greatest bagmen Joseph P. Hannon. He was the School Board Superintendent until he drove the schools completely bankrupt then mysteriously disappeared out of the public eye for a few years until me magically appeared as the chairman of McCormick Place and guess what, they went bankrupt too and Hannon performed his disappearing act again. Both agencies were bailed out by the State. Jane Byrne was mayor back in those days.
The more things change, the more they stay the same.
"We are not collecting sufficient taxes to pay our debt service"
Ya think, maybe no one is buying in the city when you dumbfucks are charging more 10% in taxes. Here is a secret you morons... try charging 5% sales tax and watch what happens. un-fucking-believeable
Can I use my LINK card at the casino atm?
City, county and state employees payroll is online. What the hell are they paying those goofs at MPEA?
The "Horseshoe's" old boat is sitting in a slip off of 106th & Muskegon just waiting for re-activation......
Why not make the old U.S. Post Office over the Ike into the world's largest brothel and tax the bejesus out of it.
That's funny how they claim that they are broke. I have information from a very reliable source that they are interested in purchasing a chunk of the Reese Hospital property. By the way the chunk I am referring to is a huge one not just a lot or two.
Mark my words they will submit a bid. I guess now I know why they want the property.
"We are not collecting sufficient taxes to pay our debt service
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BEC YOU CHARGE TOO MUCH, YOU DUMMIES!!!!!
I pay 1/10 of my gross income in property taxes in this county. Think about THAT!
The media needs to look at the huge number of patronage jobs at the Metropolitan Pier and Exposition Authority. While they're at it, they should look at the MPEA's hiring process and unbelievable salaries!
Can we lease shortshanks? But then again who the hell wants him?
City needs money? How about advertising on sides of police vehicles? Or instead of a raise, cops could rent out the backs of their vests for adds.
Its nice Obama has used our tax money so welfare rec can have free cell phones and 70 minutes a month.
All I wanted was fours cases of Pepsi, and they wanted $365 for it!
Daley is like a cocaine addict! He can't get enough money to feed his habit! He now needs billions, not millions to just get by! He is totally out of control now and needs to be taken to a rehab center! Repaet after me Richie, "In every day and in every way, I'm getting better and better!" "No wait, anyone want to lease City Hall?"
where is all this money going?
the MPEA gets TONS of tax revenue from not tourists, but Chicago citizens.
Every time you eat out at a restaurant, go to a bar, the MPEA collects 1% ("MPEA Food & Beverage Tax"). This is *in addition* to the 10+% sales tax you pay, of which MPEA also takes a portion. (And in addition to that, the city themselves collect 3% tax on soft drinks). (So figure, when all is said and done you're paying 15% sales tax on certain items in a bar.. if not more)
Every time you take a trip in a cab to the airport, the MPEA collects $1.50.
Every time you depart our airports, the MPEA collects a tax.
The above taxes aren't known to most Chicagoans, I would be surprised if there weren't more taxes we just didn't even realize existed.
Tax tax tax. Where is all this money going?
Conventions are down, so lets build 600 more hotel rooms and use taxpayer money to do so. They're just as corrupt as anyone in the city..
Legalize gambling, prostitution, drugs. Tax the sale of drugs and prostitutes. You can then get rid of OCD and Narcotics Units w/in the CPD. There goes your debts w/ the state and city, although there will be an increase in "social issues". However, if done in "moderation", all will survive.
Think about it.
Casino WILL NOT happen at the Pier. Not enough parking or room.
Watch for the new landbased casino to be at the LakeSide Center(Original McCormick Place) as soon as the License is given to Daley.
A few years ago several million was spent on a remodel of the existing kitchen, and electrial and Hi-speed data transmission and fiber optic lines.
Neighbor was 1 of the electricians on the project.
Bally Gaming was the consultant on project, and remember with-in the last year Bally Gaming had a large showing of their new slot machines at Navy Pier which was attended by ALL the Politicians in the City and elected state officials.
Mark my words when the Casino license is awarded to the city it will take less than 6 months before the dice are flying, and slot machines are in place at Midway and O'Hare airports.
McPier also owns vast amounts of land which will eventually be turned into an entertainment complex.
There are a lot of cities that successfully compete with Chicago's McPier for convention business. Back in the 60's, 70's MPlace was the only game in town, not any more
They have only themselves to blame,with workers that are being paid in excess of $30.00 to $50.00 plus dollars an hour just to set up displays.A non-rocket repairman can see that's why they have such a high operating deficint. They can't book anything,could have all the jobs they could handle if they did not charge soo much,they have been losing business for years now.
Imagine being charged $$ 385.00 for 4 cases of pepsi delivered to a McCormick trade show both. (June Plastics Show)
Shitshanks corruption at work
No doubt that soon, part of the City's employees' pay will be in "chips" to be used at said casino
"Can we lease shortshanks? But then again who the hell wants him?
11/04/2009 10:41:00 AM"
that would depend upon what we get to do to him during the lease period.
mpea, big clout. be careful if you start snooping around down there. you dont know who will be pushing back.
your car may go booom booom !!!!!
prob the last domain of the power brokers. almost no checks and balances.
if you not the fed stay away. thats a fight you dont want to pick.
Why not make the old U.S. Post Office over the Ike into the world's largest brothel and tax the bejesus out of it.
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Maybe make the soon to be built West Side Terminal at O'Hare a brothel as well. Brings a whole new meaning to the Chicago layover.
Convention business is down not only due to the economy, but here in Chicago, the unions charge huge prices, and of course, some politician is always walking by with his hand open... This place needs an enema!
Having worked down at McCormick, i'll tell you how it is: it's not the fault of the unions! they charge a fair wage, you have to keep in mind that when a convention is and running all those tradesmen are off! only a small handful work during a show, the rest put on call until the show ends; then they want you there at 5pm when the show ends to immediatedly start tearing down, and if it took a week to bring in and put up a tradeshow, they want it out in 2! so they can cut payroll. They have been doing it forever. If there is no tradeshows in town, guess what? the tradesmen are off until a show does come in.
The problem is with the companies that run the shows and the city, they charge crazy-high fees for floor space, and the city jacks up the price of everything during a show, order food at a show, hget ready to 5 or 6 bucks with it, a pop or beer, 6-8 bucks, its crazy! hotels jack up there rates as well; the conventioneers and companies get hosed, and they blame it all on the unions, sorry there are just a scapegoat used to charge higher floor fees etc. Vegas, Orlando etc. welcome the tradeshows with open arms and don't tax and gouge them to death, that's the difference. The unions did have some work rules changes and concessions to try and help but the high floor fees remained, hhhmm, wonder why? it's a joke...
Legalize gambling, prostitution, drugs. Tax the sale of drugs and prostitutes. You can then get rid of OCD and Narcotics Units w/in the CPD. There goes your debts w/ the state and city, although there will be an increase in "social issues". However, if done in "moderation", all will survive.
Think about it.
I'm on board except for dope, should never legalize it, look how bad it is now and its illegal, legalize it and watch this country sink into a bottom-less abyss of doped-up zombies...
One of the earlier post which mentioned his neighbor was head electrician at McCormick place matches same thing I heard years ago. The last year of summer mobile partner and I drove to top enterence to enjoy a smoke and look out on the water only to be joined by a few electricians for th building who stated the same thing. Building is wired to become a Casino with little work cause wiring all done.
Anonymous said...
Legalize gambling, prostitution, drugs. ...
11/05/2009 02:54:00 AM said
I'm on board except for dope, should never legalize it, look how bad it is now and its illegal, legalize it and watch this country sink into a bottom-less abyss of doped-up zombies...
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This is a point that is generally made when this comes up. For the most part though, those that will sink into the abyss are already on their way to it. I really don't believe that most of the productive members of society will partake except maybe occasionally or maybe as an experiment.
"I'm on board except for dope, should never legalize it, look how bad it is now and its illegal, legalize it and watch this country sink into a bottom-less abyss of doped-up zombies...
11/05/2009 02:54:00 AM"
do you have any idea how much 'dope' is being ingested regularly every day, via prescription 'medications' containing practically the same chemical compounds, or slight variations thereof, of which 'illegal' drugs are composed of?
any idea whatsoever?
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