Comments on: Update on the new arena http://www.oregoncommentator.com/2008/02/10/update-on-the-new-arena/ Free Minds, Free Markets, Free Booze Mon, 13 Oct 2008 00:16:19 +0000 http://wordpress.org/?v=2.3.3 By: Guy http://www.oregoncommentator.com/2008/02/10/update-on-the-new-arena/#comment-97445 Guy Wed, 13 Feb 2008 18:06:59 +0000 http://www.oregoncommentator.com/2008/02/10/update-on-the-new-arena/#comment-97445 Dastardly too. Dastardly too.

]]> By: Ossie http://www.oregoncommentator.com/2008/02/10/update-on-the-new-arena/#comment-97441 Ossie Wed, 13 Feb 2008 00:43:13 +0000 http://www.oregoncommentator.com/2008/02/10/update-on-the-new-arena/#comment-97441 posting comments under someone elses name, especially a writer for this blog, is pathetic. posting comments under someone elses name, especially a writer for this blog, is pathetic.

]]> By: de lancie http://www.oregoncommentator.com/2008/02/10/update-on-the-new-arena/#comment-97440 de lancie Tue, 12 Feb 2008 23:47:51 +0000 http://www.oregoncommentator.com/2008/02/10/update-on-the-new-arena/#comment-97440 ted: I have no fucking idea what that is about. ted: I have no fucking idea what that is about.

]]> By: CJ Ciaramella http://www.oregoncommentator.com/2008/02/10/update-on-the-new-arena/#comment-97436 CJ Ciaramella Tue, 12 Feb 2008 22:01:40 +0000 http://www.oregoncommentator.com/2008/02/10/update-on-the-new-arena/#comment-97436 I'm always happy when Ms. Stiff swings by. I’m always happy when Ms. Stiff swings by.

]]> By: Niedermeyer http://www.oregoncommentator.com/2008/02/10/update-on-the-new-arena/#comment-97428 Niedermeyer Tue, 12 Feb 2008 00:29:06 +0000 http://www.oregoncommentator.com/2008/02/10/update-on-the-new-arena/#comment-97428 delancie, what the hell was that about? Ducktalk: the problem obviously isn't that Knight "only" gave $50 mil after deductions, it's the public funding scheme that's fishy. Then again, <a href="http://www.kgw.com/business/stories/kgw_011308_oregon_bond.1aff8666.html" rel="nofollow">the state Legislative Fiscal Office has ok'd the bond measure already</a>... in my experience, as soon as one entity approves a measure to spend public money, the subsequent approvals tend to go very smoothly. The legislature and OUS board now have a free pass for a big, expensive legacy project for their resumes. delancie, what the hell was that about?

Ducktalk: the problem obviously isn’t that Knight “only” gave $50 mil after deductions, it’s the public funding scheme that’s fishy. Then again, the state Legislative Fiscal Office has ok’d the bond measure already… in my experience, as soon as one entity approves a measure to spend public money, the subsequent approvals tend to go very smoothly. The legislature and OUS board now have a free pass for a big, expensive legacy project for their resumes.

]]> By: Timothy http://www.oregoncommentator.com/2008/02/10/update-on-the-new-arena/#comment-97427 Timothy Mon, 11 Feb 2008 22:41:44 +0000 http://www.oregoncommentator.com/2008/02/10/update-on-the-new-arena/#comment-97427 Building a sports arena with public money is wrongheaded and morally questionable to begin with. To do so in a state with a lagging economy and somewhat high taxes already is straight evil. Let them build it with their own money if they want it so damn bad. Building a sports arena with public money is wrongheaded and morally questionable to begin with. To do so in a state with a lagging economy and somewhat high taxes already is straight evil. Let them build it with their own money if they want it so damn bad.

]]> By: Ducktalk http://www.oregoncommentator.com/2008/02/10/update-on-the-new-arena/#comment-97423 Ducktalk Mon, 11 Feb 2008 00:17:50 +0000 http://www.oregoncommentator.com/2008/02/10/update-on-the-new-arena/#comment-97423 At what point are the academic pundits going to cut back on the kesey koolaide. Funny how I never hear anyone balk, or even mention, the numerous donations he has given to universities on the academic side. Keeping the numbers round, let's say about $200M. That would be the UO library, UO Law School and Stanford Business School to name a few. I bet those were underhanded as well. Geez, and now he has the gall to boast a $100M gift and it's really only costing him $50M! I knew I couldn't trust a Stanford alum. And yes, I'm an Oregon alum, I just prefer microbeer. At what point are the academic pundits going to cut back on the kesey koolaide. Funny how I never hear anyone balk, or even mention, the numerous donations he has given to universities on the academic side. Keeping the numbers round, let’s say about $200M. That would be the UO library, UO Law School and Stanford Business School to name a few. I bet those were underhanded as well. Geez, and now he has the gall to boast a $100M gift and it’s really only costing him $50M! I knew I couldn’t trust a Stanford alum.

And yes, I’m an Oregon alum, I just prefer microbeer.

]]> By: Linda E. Stiff http://www.oregoncommentator.com/2008/02/10/update-on-the-new-arena/#comment-97421 Linda E. Stiff Sun, 10 Feb 2008 22:15:43 +0000 http://www.oregoncommentator.com/2008/02/10/update-on-the-new-arena/#comment-97421 The back story is tax arbitrage. Here's the math. Knight gives $100 million. After tax deductions, this costs him $50 million. His $100 is invested in the market, earns the standard 8%. Oregon sells $200 million in bonds, which only pay 4%, because they are tax-free. So $100 million pays of $200 million in debt. Net, the project costs Knight $50 million and taxpayers $150 million. It's "the gift that keeps on taking." Is this legal? We're going to find out. If it's not, UO will have to make up the difference by cutting spending on academics. It's not nice to try and fool Ms. Stiff. http://www.irs.gov/irs/article/0,,id=98192,00.html The back story is tax arbitrage. Here’s the math. Knight gives $100 million. After tax deductions, this costs him $50 million. His $100 is invested in the market, earns the standard 8%. Oregon sells $200 million in bonds, which only pay 4%, because they are tax-free. So $100 million pays of $200 million in debt. Net, the project costs Knight $50 million and taxpayers $150 million. It’s “the gift that keeps on taking.”

Is this legal? We’re going to find out. If it’s not, UO will have to make up the difference by cutting spending on academics.

It’s not nice to try and fool Ms. Stiff.

http://www.irs.gov/irs/article/0,,id=98192,00.html

]]> By: Vincent. http://www.oregoncommentator.com/2008/02/10/update-on-the-new-arena/#comment-97420 Vincent. Sun, 10 Feb 2008 21:57:41 +0000 http://www.oregoncommentator.com/2008/02/10/update-on-the-new-arena/#comment-97420 Kind of sounds like blackmail to me. Kind of sounds like blackmail to me.

]]> By: Ducktalk http://www.oregoncommentator.com/2008/02/10/update-on-the-new-arena/#comment-97419 Ducktalk Sun, 10 Feb 2008 19:31:46 +0000 http://www.oregoncommentator.com/2008/02/10/update-on-the-new-arena/#comment-97419 Hopefully, the legislature will not look a gift horse in the mouth. Donations of this size and magnitude are few and far between in the state of Oregon. The reality is that the stadium must be built in the near future regardless. That being said, let's utilize the generosity of the private sector on this one while it is available. Hopefully, the legislature will not look a gift horse in the mouth. Donations of this size and magnitude are few and far between in the state of Oregon. The reality is that the stadium must be built in the near future regardless. That being said, let’s utilize the generosity of the private sector on this one while it is available.

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