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Posts tagged as “Downtown Wichita arena”

WichitaLiberty.TV September 15, 2013

In this episode of WichitaLiberty.TV, host Bob Weeks reviews chapter 4 of "Economics in One Lesson," about how public works mean taxes, and efforts to create jobs through spending on public works do more ham than good, if the public asset is not truly needed. The tax used to build the Instrust Bank Arena in Wichita is analyzed in this light. Then on to chapter 5, "Taxes Discourage Production." Amanda BillyRock illustrates, and Bob explains that notwithstanding inventions like the powdered orange drink Tang, innovation and progress comes primarily from the private sector, not from government programs.

Intrust Bank Arena finances: The worst news is hidden

The true state of the finances of the Intrust Bank Arena in downtown Wichita are not often a subject of public discussion. Arena boosters promote a revenue-sharing arrangement between the county and the arena operator, referring to this as profit or loss. But this arrangement is not an accurate and complete accounting, and hides the true economics of the arena.

Wichita Intrust Bank Arena profit, in perspective

When evaluating information released by Sedgwick County regarding the financial performance of Intrust Bank Arena, citizens need to look beyond the presentations made to commission members. Important facts are available, but not presented to commissioners and the public.

Wichita city council: substance and process

The Wichita City Council and city hall bureaucrats have shown that they are willing to follow the letter of the law, but following the spirit and substance of the law, especially regarding public hearings and citizen involvement, remains a challenge for the city.

Intrust Bank Arena depreciation expense ignored

Reports that income earned by the Intrust Bank Arena is down sharply has brought the arena's finances back into the news. The arena, located in downtown Wichita and owned by Sedgwick County, is deemed to be a success by the county and arena boosters based on "profit" figures generated during its first year of operations. But these numbers are not an honest assessment of the arena's financial performance.

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