Dim Efforts From The Best And Brightest
What happens when city and county governments shell out hundreds of thousands of dollars in lucrative salaries and bonuses to justify luring the supposedly “best and brightest” away from the private sector? Bad things happen.
Take three high-profile cases from Charlotte’s entertainment circus as prime examples: the NASCAR Hall of Fame, Bojangles’ Coliseum, and Ovens Auditorium – all three managed by the Charlotte Regional Visitors Authority and its $300,000-a-year chief, Tim Newman.
The racing museum is currently boasting that it’s managed to narrow losses for November by running a deficit of $100,801, posting $602,550 in revenue against $703,351 in expenses, down from highs of $850K in previous months. That is now the vaunted hall’s claim to fame: Break out the balloons; we’re still losing gross sacks of loot, but not quite as gross as before.
During its first five months of operation, the hall posted a loss of $509,703; it had budgeted for a surplus of $1.1 million. Its revised budget now projects a first-year loss of $1.29 million.
Not to be outdone, the CRVA-managed Bojangles’ Coliseum and Ovens Auditorium are also both projecting major deficits for the fiscal year, and are running $704,593 in the red through November.
How’s that for $300K of the best and brightest management your tax dollars can buy?
Extra credit: For more best-and-brightest management, check out the latest coming from CLT-Douglas International and its wee small problem with the ice storm. Cedar Posts and WFAE have the details here and here.
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