The new "Pier Milwaukee" is supposedly going to make $6.1 million a year from the Discovery World museum alone? Am I the only one who sees this as another obvious failure? Who wants to see a fresh water aquarium next to Lake Michigan? Oh wait, there is a small salt water tank too...which is going to bring regional visitors? How? Ever hear of the Shedd Aquarium...they have a few more fish there that don't swim around in Lake Michigan or the Milwaukee County Zoo. This is ridiculous. If they would have made a mostly or all salt water aquarium I could see the potential in making money on that. But why would you pay money to go see a big bass or catfish?
Then you have the Discovery World Museum in there. It loses a million dollars a year where it is now. So you make it bigger and cost more so it can lose more money. Hey artsy fartsy types...not that many people want to see your crap. Look at the art museum and Milwaukee Public Museum. They lose lots of money already.
Talk about people not living with-in their means.
Thursday, December 29, 2005
The next Milwaukee Failure
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8 comments:
Dude, thats so lame trying to push that crap past people that dont live here, and arent familiar. The Public Museum is in the shitter cuz of almost a decade of poor management and graft. The art museum has only had financial problems since the new wing was opened, and the level of deficit has exactly paralleled the drop in the economy. Plus, the shortfall has gotten smaller every year, and the museum is a bajillion times more successful than art museums its size, anywhere else.
A bajillion times more successful, and still loses money...what does that say?
This is very interesting. this post and the post about liberal ideas all being failures are really obvious, yet lefties can not accept that their ideas always end in failure (see post a few up). This is why they have not had power for many many years, and hopefully never will again.
I never said it loses money. It is trying to recover the costs of expansion. That gap reduces every year. Once the loan is finished(notice it was a loan and not paid by taxpayer money), that deficit goes away. Its private donations that are covering the shortfall. You really need to read what people write.
The new center's neighbor, the Milwaukee Art Museum, ran up more than $30 million in debt while the construction costs on its Calatrava addition escalated from $37 million to $122 million. After the addition opened in 2001, the art museum failed to generate enough revenue to cover its increased operating costs and had to draw millions from its reserves.
Yeah, it covers its own debt. Most business sees shortfall after start-up or expansion. The gov't has been propping up the airlines in this way, for years.
There is another industy I don't understand at all. How they lose so much money...how ticket prices for a flight can be $600 one week and $875 the next
They hemorage cash. Its all about expanding beyond what the market will bear. Then, when their loans are due 5-10 years later, they push the loan forward(at a higher rate) or they default, and ask the gov't to bail them out. Why they keep doing it, I havent figured out.
Oh, and to fully answer you, they need to keep a solid line of money coming in at all times to prove that they are solvent, so you get your cheaper ticket far in advance. A flight without a full load will probably lose the airline money. So, they have to charge more when it gets down to crunch time.
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