hypocritexposer
Well-known member
August 4, 2009
L.A. and Cirque du Soleil: Must this show go on?
Without solid evidence to back up optimistic economic projections, the city should reject a proposed $30-million loan to bring the famed circus to the Kodak Theatre.
Los Angeles is being promised more than 800 jobs, millions of dollars in new Hollywood tourism and a 10-year run of the famed Cirque du Soleil, and all the city has to do is approve a $30-million loan -- in federal money -- to the lessors of the Kodak Theatre in Hollywood. What could be bad? A lot. The city should reject the loan, then take a serious look at how it invests in economic development projects.
Financial investments such as this one, which would allow CIM Group to retrofit the theater for the Quebec-based circus, are major commitments that should be backed by careful study and economic projections. But city leaders are unable to support their optimistic claims about the CIM loan with anything but the flimsiest of evidence.
http://www.latimes.com/news/opinion/editorials/la-ed-kodak04-2009aug04,0,3336690.story