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Why Are We Calling This Innovation For Louisville?

October 17th, 2011 by jake · 6 Comments

Failure in 3, 2… Call us Negative Nancy(s) but this is causing people all across the metro to roll their eyes. You can’t “innovate” if you’re just recycling your old, rich friends. [WFPL]

Gigantic pee alert! HAHAHAHAHA. Wow. You’ve got to see this. [C-J/AKN]

Matthew Barzun is once again making it rain for President Barack Obama. This time for his re-election campaign. [ABC News]

Have you taken a look at gubernatorial campaign finance numbers in Kentucky? Check out our stories with from Friday. [Page One Here & Here]

Occupy Louisville’s permit now allows the group to remain until the end of the year. [FOX41]

More than a month later, effects of the Sherman Minton closure are still being felt by businesses. We all expect those “effects” to be felt for months to come, right? [WAVE3]

For the most part, Louisville isn’t racist or bigoted. The city welcomes immigrants with open arms. This is a perfect example of that and it’s why Louisville can have nice things. [Business First]

No, these “occupiers” won’t change anything. This is the United States – where stagnation is the norm. But this particular protest is way more effective and made way more impact than what’s going on downtown. [WHAS11]

Voting began today for the UAW at the local Ford union hall. Locals seem to be split down the middle on a deal. [WLKY]

Jim Host says the arena has been a huge success. What do you think, Louisville? [H-L]

What was that, again, about the local Clear Channel talk box not focusing on the most extreme and salacious? [84WHAS]

Tags: Arena · Business · Election · Ford · Greg Fischer · Ohio River Bridges · Oops · Politics · Radio

6 responses so far ↓

  • 1 Mark H (Not Hebert) // Oct 17, 2011 at 8:26 am

    I would have to say the success of the YUM! Center has far exceeded my expectations to this point. The most impressive aspect of this development is that it has occurred in the middle of one of the worst economies in decades. As someone who deals with commercial real estate nationally, the private investment around the arena in this down economy is very unique. The fact that the complex can hold it’s own in an environment where people are apprehensive to spend money bolds well for the long-term health of the concept and a reaffirmation of the Waterfront site selection.

    Businesses surrounding the arena have had to rely on the diversity of traffic flow from the downtown location on non-event days. The Water Company block is sitting there waiting on the economy to rebound to be privately developed with mixed-use retail and entertainment options to expand upon the solid base that already exists there. This would never happen at the fairgrounds, and the LG&E site would never have been privately developed due to the prohibitive infrastructure relocation, floodwall development and environmental costs. The LG&E facility would still be sitting there taking up riverfront space while producing absolutely nothing the downtown economy.

    To advance the community, you have to take risks. Something Louisville is notoriously apprehensive to do. A massive financial risk was taken, and from all accounts appears to be on the right track. Sure, there are those that can point to financial unknowns and ongoing liabilities, but the lack of scandal and massive financial miscalculations and over-runs typically associated with these kinds of municipal projects have yet to manifest themselves. For this, you have to tip your hat to Jim Host and his team. Not perfection, but a pretty damn good effort when you weigh their performance against others.

  • 2 The Highlander // Oct 17, 2011 at 11:00 am

    Instead of a press release about its success, I will require a detailed financial statement reflecting that ALL the bonded indebtedness and the accompanying interest payments have been made each quarter since the 4th Q of 2010, through the 3rd Q of 2011. I also will need to see that the normal money continues to be set aside for upkeep and repairs to the property and that ALL expenses are being paid for by the Arena Authority and not some other entity (such as the UofL Foundation [which seems to pay for a lot of things these days {with little or no public scrutiny}]).

    Then, and only then, will I be convinced of its first year’s financial success. For some unknown reason, a complete and audited financial statement has never been produced. That would seem to ALSO require an answer.

  • 3 stunoland // Oct 17, 2011 at 9:20 pm

    It is far too early to tell if the YUM center is a financial success. Building a $200+ million arena for a college team does carry large financial risks.

  • 4 The Highlander // Oct 18, 2011 at 2:39 pm

    Stunoland: It’s NEVER, EVER been done anywhere in America. It requires ENORMOUS bravado to deign the think that the FIRST time such a venture will work would be in Louisville.

    Second point. The arena isn’t $200+ million. That’s what the ‘folks’ involved w/it say. The BOND ISSUE is $349 million and it’s the BOND ISSUE that has to be paid.

  • 5 jake // Oct 18, 2011 at 2:40 pm

    God. You people with your “facts” and your “figures.”

    Heh.

    Haven’t you learned?

    Reality doesn’t matter.

  • 6 The Highlander // Oct 18, 2011 at 6:48 pm

    Jake: Around here ‘reality doesn’t matter.’ Reminds me of a great JFK quote:
    “The great enemy of the truth
    is, very often, not the lie — deliberate, continued and dishonest;
    But, the MYTH –persistent, pervasive and unrealistic.”

    Food for thought.

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