No reason to be thrilled over the coliseum's red ink
OK, let me get this straight. The taxpaying citizens are supposed to be happy and relieved that the Greensboro Coliseum lost a mere $1.3 million this past fiscal year ("Coliseum deficit less than expected," Aug. 30). And that's because it lost $500,000 less than 2005.
Director Matt Brown is quoted as saying, "We're pretty thrilled."
Folks, losses are losses. If this were a private company, it would likely have filed for bankruptcy. And now we are talking about a bond referendum (aka tax increase) to fund renovations to War Memorial Auditorium.
When will the City Council wake up and figure out a way either to make the coliseum a break-even venture or shut it down?
Oops. Then we wouldn't have a place to host the ACC Tournament.
Let's keep it open after all and wait for the tax increases to fund the annual losses. I bet Mr. Brown gets a hefty bonus this year for his ability to lose less money than last.
Donald Shaw
High Point
Comments (3)
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"When will the City Council wake up and figure out a way either to make the coliseum a break-even venture or shut it down?"
Don, I sincerely agree with this statement.
I do not think it is necessary to shut the coliseum down. I think they CAN break even. I don't want to criticize Matt Brown but I think there is a need for a change in focus. Not losing as much should not be the goal. Breaking even or posting a profit should be a big part of the goal.
We all are aware that there are other benefits of having events in Greensboro besides the coliseum's bottom line. But how much should the taxpayer be expected to subsidize the coliseum in order to receive these benefits?
Posted on September 5, 2006 3:41 PM
Also, considering the coliseum benefits folks besides just property owners, perhaps they should look at another revenue source. An increased sales tax/hotel tax/etc would put the burden on all citizens and also the tourist that come here for events.
Posted on September 5, 2006 3:43 PM
The $6 parking is a real turnoff for me to want to attend events at the coliseum.
Posted on September 5, 2006 5:57 PM