April 21, 2009

Breads and circuses in maryland

At a time when everyone including governments are strapped for cash, it's comforting to know that Maryland politicians know the meaning of restraint.

Maryland's racing industry is in trouble. The legislature refused to approve slots when Bob Ehrlich was governor, which might (or might not) have helped to save the industry. Now a few years too late, they approve slots, but see the Preakness slipping away. So what does Marylan'd's legislature do? Attempt to seize the Preakness.

My delegate, Sandy Rosenberg thinks this is a great idea and is happy that Susette Kelo lost her case in the Supreme Court.

The Washington Post, though, thinks this is a bad idea. (The Post supported the Kelo ruling.)

That didn't stop legislators from passing a bill that gave the state authority, through the use of eminent domain, to purchase or seize Pimlico, Laurel Park racetrack, a horse training center in Bowie and the Woodlawn Vase, the trophy awarded to the Preakness winner. The bill is a dubious use of eminent domain and probably will be ignored by the federal bankruptcy court that will direct the sale of Magna's assets.

Perversely, Marylanders should hope the legislation is ineffective. Otherwise taxpayers could get saddled with a money-losing racetrack the state can't afford.

As I pointed out, the legislature's attempt to seize the Colts ensured that Irsay would leave. Obviously, they haven't learned the lesson.

And it's not just the state that wishes to throw money at a bad investment. Baltimore City assumed the mortgage of the Senator Theater.

But no matter how nostalgic people are for the Senator Theater here's the unromantic truth:

In an age when single-screen movie theaters were dinosaurs marching toward extinction, he insisted on maintaining the Senator as a first-run movie house. Finances have always been tricky, and three times the theater has been pushed to the brink of bankruptcy. If nothing else, the Senator has been a survivor. And now that the city has begun efforts to take over the theater, thus derailing a planned April 20 foreclosure auction by mortgage-holder 1st Mariner Bank, it appears as though the Senator will live to show movies another day.

Three times the theater's been at the brink of bankruptcy. I would not say that it's a good investment.

Politicians will tell us of the need to cut services or to pay higher taxes, but when it comes to paying for entertainment, they never seem to be able to say "no."

Posted by SoccerDad at April 21, 2009 6:09 AM
Share and Enjoy: These icons link to social bookmarking sites where readers can share and discover new web pages.
  • del.icio.us
  • digg
  • Furl
  • Spurl
  • YahooMyWeb
  • co.mments
  • Ma.gnolia
  • De.lirio.us
  • blogmarks
  • BlinkList
  • NewsVine
  • scuttle
  • Fark
  • Shadows
Add this blog to my Technorati Favorites!
Comments
Post a comment









Remember personal info?