Real Salt Lake Shows Its Arrogance
After months of delays and tons of secrecy, Real Salt Lake finally comes up with the goods on its financing. Or does it? I would hardly say that a pile of spreadsheets with no analysis, charts, graphs, or any kind of presentation whatsoever qualifies as a disclosure.
Surely they did something a little more professional and impressive to lure in Goldman Sachs. Professional investment firms are wowed by solid Powerpoint presentations, not a bunch of raw data. You know they made those for the private investors, so why aren't they giving this up to the county? This reeks of the usual "just give us the money" arrogance that the team has been showing since this whole stadium mess got started.
If Dave wants to thumb his nose at us, the taxpayers that would be footing the bill, I say we tell him to go pound sand. Dumping a bunch of spreadsheets with no summary or presentation is sloppy and unprofessional. If this is how they handle the books now, what makes you think it's going to be any different when construction starts? They'll be bankrupted in no time flat.
I'm going to make sure that my members of the County Council hear about how mad I am that we're going to waste tax money on something that cannot possibly be a public good, is in an enterprise that never breaks even on the investment, and finances an overgrown petulant child's pet project. I'm hoping some of you plan on doing the same.
And you guys think I should move up there. Pfft!
It sounds like all of those spreadsheets factor in an overly large dose of blind optimism.
That’s what I’ve been gleaning from today’s news articles. It’s all built on best case scenarios and even then it barely passes muster. So what is Goldman Sachs has their money in the pot? It’s not like they’re batting 1.000 with their investments.