Monday, May 31, 2004

Thought For the Day

Next time someone talks about the "$250 million" FedEx Forum, kindly correct them for me. At this time, the actual cost of the FEF to Memphis is $300 million!

Forum itself: $250 million
"Improvements" to surrounding streets and parks: $15 million
Debt on useless Pyramid: $35 million

The Pyramid was killed completely with this deal, so it is only fair to include remaining debt costs (and maintenance on the closed building) in the costs of the FEF. If they hadn't built it, the Pyramid would be a going concern, not a dying duck.

Just so you know.

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