--- In [email protected], "bluebishop82" <[EMAIL PROTECTED]>
wrote:
>
> --- In [email protected], Lighty <[EMAIL PROTECTED]> wrote:
>
>
Jap hit it right on the nose. It was built to attract people, period.
> This is simply ridiculous. Does anyone really believe that
> > Convention Hall WILL NEVER DRAW A PROFIT?
>
>
> Gary,
>
> This is an interesting point and I'm glad you brought it up. I'm a
> bit hazy on the matter so I hope others will comment too.
>
> When I heard Larry say that at the meeting I gasped. First, if you
> are a business man, why would you ever spend millions on something
> you were certain would lose money? I kept thinking that if they
had
> public shareholders in Asbury Partners they would fire him for
> knowingly making a bad investment. Then I wondered if this was
> foreshadowing - if he is convinced it won't make money, then he has
> no plans to develop it. It lends credence to the theory that he
> will make money from the condos and let us take back the buildings.
>
> I called on Jap Del Pizzo today. He ran the beachfront for 30
years
> her in AP. To my surprise, he confirmed that Convention Hall never
> made money.
>
> It is quite possible that the purpose of a Convention Hall is as
> nothing more than a government service for the buisiness community.
> The City suffers some loss at years end, but the thousands of
> visitors allow the surrounding businesses a huge gain. Perhaps
that
> is the best argument for it staying a public operation.
>
> Jap also reminded my that many college campuses have larger
> facilities than Convention Hall, not to mention other convention
> centers. Jap thought that Convention Hall could be profitable if
> you built on to it and made it larger, to attract far more vendors
> to shows.
>
> I think that might be a good idea, but I can't help but imagine the
> reaction of Asbury's preservationists to the thought of building on
> to CH. I think their heads would "asplode." ;-]
>
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