Casey19 Posted June 7, 2010 Report Share Posted June 7, 2010 Shame on our elected officials writing a check to Formula One for $25,000,000.00 for the license to host this event. Yet I pay each and everyday to drive my car on the toll road UNBELIVABLE - And not 1 american driver races in Formula 1 How will 1 week-end of International Money coming to Austin help me or you unless you own a hotel, restaurant or gas station? Obviously it will help the State replinish their secret fund so they can spend it on what ever and when ever -- Cowboy Stadium went before a BOND election for the voters to decide. And the article says our tax's will increase to pay for this? Link to comment Share on other sites More sharing options...
gundogC3 Posted June 7, 2010 Report Share Posted June 7, 2010 Yep, and there talking about laying off state employees because of lack of fund's. Link to comment Share on other sites More sharing options...
JamesHigdon Posted June 7, 2010 Report Share Posted June 7, 2010 I am a conservative strongly against government spending but I think in this case you need to look at this as a long-term investment in our state and not a short-term cost. The state will EASILY recover more then $25.0M from this event and the track the event is paying for will draw dozens of large races to this area that never would have come here before. The building of this track will also stimulate not only Austin's construction industry but the whole states and everyone getting paid working on the track will be spending money everywhere else. The city of Austin will draw in more large corporate headquarters because of this event making Austin a dot on the globe and people all over the city and region will see good jobs from this. Link to comment Share on other sites More sharing options...
Casey19 Posted June 7, 2010 Author Report Share Posted June 7, 2010 I am a conservative strongly against government spending but I think in this case you need to look at this as a long-term investment in our state and not a short-term cost. The state will EASILY recover more then $25.0M from this event and the track the event is paying for will draw dozens of large races to this area that never would have come here before. The building of this track will also stimulate not only Austin's construction industry but the whole states and everyone getting paid working on the track will be spending money everywhere else. The city of Austin will draw in more large corporate headquarters because of this event making Austin a dot on the globe and people all over the city and region will see good jobs from this. Where are these business men going to get the $250,000,000.00 (minimum) to build this track? I just have a hard time buying in on the fact that our State wrote a $25,000,000.00 check to Formula One for the license when there is no land purchased nor a solid money investment plan of how the facility will be built. There is no debate on whether the State should or should not write the check - It is done - Check is in the mail to Berney - And we are paying for it! Now we can sit back and enjoy our investment - Hope we all are rich in 18 months from our recent purchase Oh forgot to sign my name - Kathy Smith Link to comment Share on other sites More sharing options...
racedude Posted June 7, 2010 Report Share Posted June 7, 2010 Mrs. Smith - I remember when you got right in the middle of the Weight Station in Florida tagging racers the minute they crossed the boarder - for some reason I don't think you are letting this Formula One stimulous CHANGE lay to rest Link to comment Share on other sites More sharing options...
Casey19 Posted June 7, 2010 Author Report Share Posted June 7, 2010 Dude: What on earth would be the down-side of giving 25,000,000.00 to this man Share239 Retweet1 Updated: July 4, 2009, 11:33 AM ETEcclestone ripped for Hitler remarksEmail Print Comments453 Associated Press LONDON -- Formula One boss Bernie Ecclestone faced criticism from politicians and Jewish groups Saturday after being quoted as saying that Adolf Hitler "got things done." In an interview with London's The Times newspaper, Ecclestone expressed a preference for "strong leaders," citing former British prime minister Margaret Thatcher and Max Mosley, outgoing head of Formula One's governing body, as examples. He was quoted as saying that democracy "hasn't done a lot of good for many countries -- including this one." "In a lot of ways, terrible to say this I suppose, but apart from the fact that Hitler got taken away and persuaded to do things that I have no idea whether he wanted to do or not, he was in the way that he could command a lot of people, able to get things done," Ecclestone was quoted as saying. "In the end he got lost, so he wasn't a very good dictator." Ecclestone also said the West had been wrong to depose Iraq's Saddam Hussein, saying: "He was the only one who could control that country." The Board of Deputies of British Jews told The Times that Ecclestone's views were "quite bizarre," and Jewish Chronicle editor Stephen Pollard said he was "either an idiot or morally repulsive." Labour Party lawmaker Denis MacShane told the newspaper that the remarks revealed ignorance of history and "a complete lack of judgment." Calls to Ecclestone's London office were not immediately returned Saturday. Ecclestone, who owns F1's commercial rights, is no stranger to controversial remarks. He once said women should dress in white "like all other domestic appliances." In The Times interview, Ecclestone said that had been a joke, adding: "I would love to have a good lady race driver and preferably black and Jewish, too, but they might take maternity leave." Copyright 2009 by The Associated Press Link to comment Share on other sites More sharing options...
racer61 Posted June 7, 2010 Report Share Posted June 7, 2010 Ouch! I never knew that. Link to comment Share on other sites More sharing options...
Sarge Posted June 7, 2010 Report Share Posted June 7, 2010 From my understanding, The state is not paying FOR the event. They are paying for services connected to the event. This is the same amount of money, for the same reasons, they are paying in relation to the Super Bowl in Arlington. This is for extra security, traffic, air port services, and other type of extra costs that an event like this creates for the city/state. So, they are not paying the sactioning fee, which is coincedently, $25 million. They are helping Austin pick up the tab for the services Austin has to provide for the event. F1 Race Super Bowl NCCA Final Four Things of that nature have, and would, get that kind of comittment from the state. Hope this helps. And Casey19 Where are these business men going to get the $250,000,000.00 (minimum) to build this track? Double that and you would be in the cheap seats of the ballpark. Bill "Sarge" Masom Link to comment Share on other sites More sharing options...
Sarge Posted June 7, 2010 Report Share Posted June 7, 2010 Found what I was looking for: From: http://www.statesman.com/news/texas/texas-...ula-722547.html Texas taxpayers will put up the first $25 million to attract the new Formula One U.S. Grand Prix to Austin — money state officials previously said would be used to reimburse local governments for costs incurred by hosting large sporting events. *emphasis mine So, the state is NOT paying the F1 sanctioning fee. This is money is coming from the same pot of money being sent to Arlington for the Super Bowl, and is for the same purposes. Now, if you want to have a discussion on wither the state should have that pot of money, or wither it is the best use of that money, is a whole nother ball of wax. Bill "Sarge" Masom Link to comment Share on other sites More sharing options...
carguy Posted June 7, 2010 Report Share Posted June 7, 2010 Sarge the news report I saw stated that the state was paying the 25 million franchise fee from an account the state has set up to cover extra expenses for events such as the super bowl but that the state did pay the fee. I believe it was on abc13 in Houston last week Link to comment Share on other sites More sharing options...
Sarge Posted June 7, 2010 Report Share Posted June 7, 2010 Man crow sucks! I am sorry, the article is a bit misleading. As I read it throughly, the paragraphs below the one I quoted above says: The money, which will be deposited in the state's Major Event Trust Fund, will pay the sanctioning fee charged by the London-based Formula One Group for the first of 10 annual races planned for Austin starting in 2012, the Austin American-Statesman reported Wednesday. The fund had previously been used to cover costs associated with hosting the Super Bowl and all-star games. The Legislature, however, authorized the use of general revenue funds for F1 in the last budget I was wrong. But, I thought the sactioning fee for F1 was $25 Million A YEAR, so how is $25 Million going to pay for 10 years. I know I graduated Montana Public Schools, but that just don't add up. So, anyway, how 'bout them Rangers! Whistles tunelessly as he walks away from the thread. Bill "Sarge" Masom Link to comment Share on other sites More sharing options...
rebelracewriter Posted June 7, 2010 Report Share Posted June 7, 2010 ummmmm........I'll just zip it..... Link to comment Share on other sites More sharing options...
PAPA Posted June 7, 2010 Report Share Posted June 7, 2010 This whole F1 thing is still in the making. Lets give it some time to see what REALLY happens. Our tax dollars are spent on a whole lot of stuff and our taxes go up all the time. Thats just the way it is. I for one am excited they are spending some of those taxes on Auto Racing in Texas. They could be spending that money on FIFA. Link to comment Share on other sites More sharing options...
neon14 Posted June 7, 2010 Report Share Posted June 7, 2010 Look at Nascar, they have teams sponsored by the tax man. Link to comment Share on other sites More sharing options...
Casey19 Posted June 8, 2010 Author Report Share Posted June 8, 2010 The 25 million dollar check went to Bernie - And you are right that fee is each and every year. I could of sworn that we are trying to bail our AMERICAN automakers out - And what team does the tax man sponsor in NASCAR? I guess I just can't relate because I am really not in the market for a Ferarri - Link to comment Share on other sites More sharing options...
HiTech Posted June 8, 2010 Report Share Posted June 8, 2010 The 25 million dollar check went to Bernie - And you are right that fee is each and every year. I could of sworn that we are trying to bail our AMERICAN automakers out - And what team does the tax man sponsor in NASCAR? I guess I just can't relate because I am really not in the market for a Ferarri - tax man sponsor ....i will take a guess .....national guard ...army .. navy .. air force ...they sponsor cars ......isnt that paid through our tax dallors ..or have i lost my mind ... btw 25 mil ...heck if thats all the goverment was wasting ..i say go for ..atliest we know what they are wasting it on .. Link to comment Share on other sites More sharing options...
Casey19 Posted June 8, 2010 Author Report Share Posted June 8, 2010 The 25 million dollar check went to Bernie - And you are right that fee is each and every year. I could of sworn that we are trying to bail our AMERICAN automakers out - And what team does the tax man sponsor in NASCAR? I guess I just can't relate because I am really not in the market for a Ferarri - tax man sponsor ....i will take a guess .....national guard ...army .. navy .. air force ...they sponsor cars ......isnt that paid through our tax dallors ..or have i lost my mind ... btw 25 mil ...heck if thats all the goverment was wasting ..i say go for ..atliest we know what they are wasting it on .. The go army, navy, national guard and airforce use their recruiting/marketing money in motorsports - And if you contact Peformance P/R Plus - They can tell you how successful the champaign has been. They are at each and every race - targeting future soilders, etc ages 18 to 28 years old. Their driver is the spokes person on the civilan side that future recruits embrace. The last article I read was an average of 22 recruits per event - To use the States money to pay a franchise fee on something that does not have the financial structure behind, just to secure a date is bad business on elected officials. It is not different than going to NASCAR with a set of plans and telling them a state of the art facility is going to be built in Austin and the City council writing a check for 25,000,000.00 to NASCAR to secure a date 1 problem - who is going to build the facility? And why should the City write the check? Like I said there is really no debate - Kurt Watson was instrumental in getting it done. Link to comment Share on other sites More sharing options...
Budman Posted June 8, 2010 Report Share Posted June 8, 2010 I'm not going to sit here and pretend to know if this will turn out to be a good investment of the state's money on not. I suspect there are far worse ways the gov't is spending our bucks. I also suspect it is where the starting place has to be. I doubt there would be any chance of attracting investors in the facility without first having a commitment from F-1. I also suspect the investment ducks were already in a row, awaiting this commitment. At any rate, it is good to see government at any level taking an interest in motorsports, especially after witnessing the San Antonio fiasco right here on Speedzone, as it unfolded. Link to comment Share on other sites More sharing options...
Casey19 Posted June 8, 2010 Author Report Share Posted June 8, 2010 Unique - 5 out of 8 separate post don't care how our elected officials spend money - With those odds we need to get a group together and call on our government to preserve history restoring our race tracks - Longhorn and San Antonio. All it takes is a great lobbist and the support of the tax payers to pay for it Link to comment Share on other sites More sharing options...
racedude Posted June 8, 2010 Report Share Posted June 8, 2010 My question is - if the investers are in place to construct this facility 25mil is nothing to pay the franchise fee - why didn't the State commit to the roads and utilities for this special event as the money was set aside for? Link to comment Share on other sites More sharing options...
Budman Posted June 8, 2010 Report Share Posted June 8, 2010 No, it just takes a great lobbist. Five who don't care? I don't think so. We elect our government officials to take great care about how our money is spent. This MAY very well turn out to be a very prudent investment of government economic development money. Time will tell, but I don't think they would have committed those funds without an excellent chance of the economic benefits out-weighing the down side. Link to comment Share on other sites More sharing options...
Casey19 Posted June 8, 2010 Author Report Share Posted June 8, 2010 And the Americans wanted CHANGE too -- we got it - and we will pay for it! Link to comment Share on other sites More sharing options...
Budman Posted June 8, 2010 Report Share Posted June 8, 2010 Huh? Link to comment Share on other sites More sharing options...
KISS_Racing Posted June 8, 2010 Report Share Posted June 8, 2010 Unique - 5 out of 8 separate post don't care how our elected officials spend money - With those odds we need to get a group together and call on our government to preserve history restoring our race tracks - Longhorn and San Antonio. All it takes is a great lobbist and the support of the tax payers to pay for it My record with Nick is in tack so I wont say anything more than citycouncilman and SAS... ENOUGH SAID! Link to comment Share on other sites More sharing options...
racedude Posted June 8, 2010 Report Share Posted June 8, 2010 Huh? Obama campaigned on Change Link to comment Share on other sites More sharing options...
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