GEORGE'S DAYDREAM

THE STADIUM FRAUD " There are very few fields of economic research that produce unanimous agreement. Yet every independent economic analysis of the impact of stadiums has found no predictable positive effect on output or employment. Some studies have even concluded that there is a possible negative impact. " -- SMITH COLLEGE ECONOMIST ANDREW ZIMBALIST

Mayors Push Stadiums

Baseball's Stadium Shakedown
Washington Post, July 11 2003

"One segment of society does benefit from stadium subsidies. Team owners enjoy windfall profits when they turn around and sell. The favored ownership group for the District is the Washington Baseball Club, a team of investors reportedly worth $3 billion and headed by Fred Malek. A veteran of these conversions, Malek formerly owned the Texas Rangers, with George W. Bush among others. In 1991 Malek's group demanded that Arlington, Tex., taxpayers provide $135 million for a new stadium. The group threatened to move the team if the ransom wasn't paid. After the stadium was built and the Rangers' value had tripled as a result of the taxpayer subsidies, Malek's group sold the team. " - Ralph Nader, Washington Post