The Yankees deal will only bring in 15 more jobs? [UPDATED]
Here. Shed a tear for the Yankees before I start ranting about them.
This from Newsday, Balking at stadium deal:
The New York City Industrial Development Agency and state Assemb. Richard Brodsky agree on little when it comes to the new Yankee Stadium deal. Here's where they differ:
Luxury suite: City officials say the luxury suite at the new stadium has been cited in public records since 2006, specifically the lease agreement between the Yankees and the development authority. Brodsky claims it was "secretly acquired" and he only discovered it this summer after a public hearing. The box seats about 12 people and was envisioned for the use of the mayor to entertain dignitaries and reward city employees for exemplary service. City officials also have the right to purchase 180 seats at face value before they go on sale.
Jobs: NYCIDA has stated that more than 900 part-time workers will be the equivalent of an additional 550 to 770 full-time workers at the stadium. Brodsky has said the NYCIDA's records show an additional 15 full-time workers.
Threat to leave: When citing its reasons for allowing public-backed financing of the stadium, the NYCIDA cited the likelihood the Yankees would "relocate outside the city" if a new stadium deal wasn't struck. Brodsky said an investigation by his oversight committee found no evidence of a Yankee threat to leave. The closest thing to a fresh threat to leave were 1993 news clippings supplied by the NYCIDA in which such threats were discussed, Brodsky said.
NYC is going to get rimmed by this Wall Street bailout. There's no other way to describe this. We not only lost something in the order of 30 to 40 billion dollars in bonuses ALONE, we've lost over 11,000 jobs since the Lehman meltdown.
Not the Bear Stearns, Fannie Mae or Freddie Mac meltdowns.
I am talking about the almost 2 weeks since Lehman folded. Since then, the city has lost ELEVEN THOUSAND JOBS. We're expecting to lose a total of 40,000 by the closing of the year.
Who is going to fill in the money gap once all those workers are gone from the city's economy? That's right, those of us who are still slugging it out here. And if we get a 3rd term with Bloomberg, you know who's going to get screwed, right? Blue and Gray collar, working class renters, the people who in Bloomberg's book, don't really count as being important to the city's economy unless we're treated as peons.
So am astounded that the demolition of Yankee Stadium is going through when all this economic turmoil is just beginning. I mean, they're asking the city to pledge a friggin' billion dollars in city bonds --of your money and mine-- so they can build luxury suites and maybe, just maybe, add another ... oh wow! ... 450 part-time jobs in a city of 10 million people with an exploding unemployment rate.
Nice.
I say, let them hustle somewhere else. It's not worth it when with city taxes my husband and I are already shedding almost 35% of our income just for living here.
UPDATE:
Sorry. We were missing an astounding amount of links.
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City Bonds | debt | Employment | Entertainment | New York Yankees | Pork Barrel Politics | Real Estate | Sports | Taxes | Wall Street | WTF | Yankees Stadium | Richard Brodsky
New Yanke stadium deal which
Submitted by dennis moore (not verified) on 23 September 2008 - 6:19am.
New Yanke stadium deal which is old one but with Lehman Brother crisis and wall street bail out plan the story is making headline. loosing 15 job is not the only problem but the whole financial structure of the country is at stake.As mentioned by Obama the "lobbyist,special interest and 'ethic of irresponsibility' is a must for the bail out." For a successful administrative and governmental machinery accountability is a must for fruitful result.
Thanks.
http://www.statedemocracy.org is the best site for voters to use all facility for election. Such as contact elected officials, absentee ballot,voter registration and polling place location.
Those 15 jobs
As I understand it, those 15 jobs are for caterers for that luxury box.
Seriously, there's a great book published by the "Baseball Prospectus Team of Experts," entitled "Baseball Between the Numbers." Their wrap-up on the chapter about the economic benefits of publicly-funded new stadiums reads, "The forms of these subsidies may change, but new stadiums are still mostly about one thing: boosting team profits by separating taxpayers from their money."
The folks at Baseball Prospectus are following the lead created by Bill James, the generally recognized original baseball numbers genius (and the person probably most responsible for the Red Sox' two World Series wins in recent years *grumble grumble*). This book takes an in-depth look at baseball statistics and all numbers baseball. Their conclusions are often startling (for instance, Derek Jeter is only an average-fielding shortstop, and steroids generally have minimal impact on performance at the top level), but always backed by solid facts and statistics. In this case, however, their conclusion regarding new baseball stadiums is not startling or even new; it was part of the discussion back when then-Mayor Giuliani was pushing for a new stadium on the west side of Manhattan.