Saturday, November 10, 2007

Toledo Free Press looks at Citifest

This week's Toledo Free Press has a terrific article on Citifest and the struggles they face with the City of Toledo in light of their management agreement to run the Erie Street Market.

Interestingly, the article says that Citifest did not want to do the Rallys by the River which lose money - but that Finkbeiner wanted them during the summer, so Citifest had to host them.

And then there is this, which I think says it all:

"(Citifest board chair Brian) Epstein refuted Schwartz's claim the market has a constant revenue stream that allows it to self-sustain.

“There isn't” a revenue stream, Epstein said. “Revenues aren't covering expenses. That's how you get an operational loss. If they can't understand that, how the hell are they running the finances of the city?”"

***

I'd also suggest that you read my column about 'quality of life' amenities...they're the result of economic development - not the cause of it.

3 comments:

Tim Higgins said...

Maggie,

This reminds me of a boss from my distant past who used to say that, "sure he was losing money on everything that he sold, but he was making it up in volume". Needless to say, this company went bankrupt.

In the "business friendly" city that is Toledo, we have yet another example of Mayor Finkbeiner (who I think we should begin to call Fearless Leader, in tribute to the old Rocky and Bullwinkle cartoon), wading in like a bull in a china shop to tell business people how to run a business. Like that Fearless Leader of my youth, each attempt failed.

Winston Churchill once said: Courage is what it takes to stand up and speak, Courage is also what it takes to sit down and listen.

Perhaps Mr. Mayor, it is time for you to take your seat.

Brian Schwartz said...

Geez, Maggie. I am honored to warrant a mention in your "Labels" section.

I think it was Kirkegaard, or perhaps Wayne Campbell who said, "If you label me, you negate me."

As always, I enjoy your blog.

Maggie Thurber said...

Actually, Brian, while the category is called 'label,' it's really a tag...you're it!

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