Sigh.
1. It is publicly controlled money. If it was private money, this wouldn't be an issue, because the government wouldn't be involved. The only expenditure that the government can control is expenditure of funds it has power to coerce the use of. The reason this is an issue because the Vikings and their supporters want access to money collected from other people who don't want them to have access.
2. If it's real money, it has multiple uses. 500 million bucks can be used a lot of ways. IMO there are a lot of ways that offer a higher investment return than a sports stadium. (If there weren't, Zygi would be investing his own $500 million.) IMO there are a lot of ways that offer a higher investment than a "multi-use stadium" -- if there weren't, the entrepreneurs who want a combined sports/event venue would be able to raise money from private investors wanting to get in on a better deal.
The notion that a state "commission" can somehow find a higher return on investment than private capital owners to me is, quite frankly, ludicrous. Put it this way, if you have, say, $10 or $10K or $100K to invest, and could ask Fidelity or your governor to manage it, who would you go to?
Me, I'd go with Fidelity every time. They're more in tune with the world with the world where real value is being created through production and trade, whereas the governor only knows how to rob Peter to pay Paul. And if I discover they're not doing well enough, I can shift funds to Vanguard or Apple Computer or whatever.
Originally Posted by: Wade