IMO it looks like Texas may have made a fatal assessment of the income stream projected to result from the f1 2012 event. My opinion (mine only thanks) is based on what I recently read from this source material:
http://tinyurl.com/5tgg8up This read gives a pretty good in-depth report on the calculation side of this event.
If someone convinced Austin, Texas that F1 fans are filthy rich. Well guess what? I for one am an F1 fan but, I damn sure am not filthy rich. Multiply and divide that by X #s of attendees. Pols and the tax people don't do things according to the real world unfortunately.
What's really bothersome about all this as usual is the event is less than a year away and now people who control the purse strings are finally looking at the books.
If this thing goes south the s..t is really going to hit the fan. There are already lawsuits filed to halt the spending. Anyhow, hope I haven't repeated myself. Enjoy the new revelations about the goings on down yonder way ya all.
Hey Austin, anybody home?
Quote: "The City Council — despite warnings from F1 organizers that the project could fall apart if not endorsed Thursday — decided instead to postpone a key vote until Wednesday (June 29, 2011)".
BE has worked his magic math here.
26 Jun 2011, 15:24 (Ref:2906378)
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