Texas Funds Formula One Race, May Fire Teachers

[DuaneBidoux]

Source: Bloomberg

Texas, which may balance its budget by firing thousands of teachers, plans to commit $25 million in state funds to Formula One auto racing each year for a decade.

Four years after motorsports’ most popular series left the U.S., Texas investors including Clear Channel Communications Inc. co-founder B.J. “Red” McCombs are building a 3.4-mile (5.5-kilometer) track to bring the event to Austin. Comptroller Susan Combs has agreed to pay $25 million for races through 2022, a subsidy questioned by critics and lawmakers as the state cuts costs to close an estimated $15 billion two-year deficit.



Read more: http://www.bloomberg.com/news/2011-05-11/texas-taxpayers-finance-formula-one-auto-races-as-schools-dismiss-teachers.html

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I'm a Houston teacher who just got laid off. But after the shocks I've taken lately I'm just numb.

PS: the headline is misleading, there is no "may" about the firing. It has started en masse here.

[sakabatou]

1. Entertainment over education

*facepalm*

[ChairmanAgnostic]

4. cuz watchin silly cars go 'round in circles is ejukashunal

Yall yankees is missin the point.

[Mopar151]

16. You're missing the point - or not.

A 250 M comittment from the state, for a series that is a proven loser with US fans. Their last US venue ( Indianapolis Motor Speedway) dumped them for only fielding 1/2 of the cars advertised.
Most tracks get very little taxpayer support, compared to stick 'n ball sports. But Texas sports moguls LOVE to hose the taxpayers - ask Jerry Jones or GW Bush.....

[rfranklin]

5. Because cronies can make money with sports...

It's the same thing that Bush and his cronies did with the baseball stadium. Public financing of private profits.

[alp227]

34. so where's the Tea Party?

This is clearly wasteful spending. I can't wait to see the "Taxed Enough Already!" and "Small Government" signs at that Formula One race!

Oh wait...never mind...according to the TP, it's the teachers, illegal aliens, single mothers, welfare recepients, and public workers who waste money. But millions to fund auto racing, and even more and more to unnecessary wars and bailing out zombie bank? No problem!

[QED]

35. Yeah - what about the small government people?

[Mopar151]

38. They worship wealth

And F1, in the "Ecclestone Era", is all about the conspicuous display of wealth.

[theHandpuppet]

57. Bread and Circuses

... without the bread.

[DrDan]

2. the teacher firing continues in Florida - but here the money goes toward

corporate tax breaks

[Taverner]

3. Texan DUers: CAN YOU STOP THESE PEOPLE????

They've already besmirched the state of Texas, they are besmirching the US and THEY NEED TO GO!!!

[freshwest]

7. Those who live there who post here are the exception to the rule of most people I know there.

Unfortunately, people I know the best are worn out and no longer pay any attention. It's just another outrage du jour for them.

They've become apathetic, which is the purpose of these stories, breeding a sense of helplessness at the callousness of it. To them, just another proof that nothing can be done.

Tom Delay's gerrymandering did this, not the voters. Their candidates were like Kucinich, literally given no place to hold on.

Texas gave yacht builders or owners a big tax break a while back as reported here on DU. As if that's going to help anything.

They have given up, turned in on themselves, just keeping their nose to the grindstone and not looking at the cause anymore.

:(

[alarimer]

32. No because our fellow citizens are right-wing redneck idiots who vote for these clowns.

Fuck them all; I say let it go down the tubes. I am getting out of here as soon as I possibly can.

[PassingFair]

56. Hang in there. Texas is growing so fast that urban dems must surely outnumber...

your rural republicans before long.

I ache for all citizens of conscience in
the red and western states.

:hug:

[Citizen Worker]

6. Bread and circuses through what is euphemistically called, public/private partnerships. What it

really means is public financing of private gain.

[freshwest]

8. 'public financing of private gain' is the perfect expression and should be used widely. Thanks.

[Bennyboy]

9. Actually racing brings a ton of money into the area

I understand your frustration but as a rule, these projects (Stadiums, arenas, racetracks, concert venues, races, bike races etc) bring far more money into an area than the cost of the project.

So at least when you are laid off you can always sell hot dogs out at the track.

[peace frog]

10. Such a deal

Lose a teaching position, gain a job hawking hot dogs. It's a win/win, I tells ya! :crazy:

[Bennyboy]

11. well the tax revenue raised by having the track there,

will probbly save more than a few teaching jobs.

Racing brings in Tons of money. And that money goes to the community.

[toddwv]

12. From the article:

"Formula One races have failed to gain traction previously in the U.S. Since the 1970s, the series has been hosted by Long Beach, California, as well as Las Vegas, Detroit, Dallas, Phoenix and, most recently, Indianapolis. The races there ended in 2007 on declining attendance."

So it's pure speculation that the investment will pay itself off.

[Kceres]

25. As I recall, it ended up being a money loser in Denver.

Many years ago the Grand Prix people came in talking big but the whole thing was a boondoggle. I don't think there was ever another Formula One event around here.

[Hotler]

59. I think it was Indy cars not F1. n/t

[beardown]

13. So does employed teachers.

There are a number of economic studies that have shown that building a football stadium, etc. aren't quite the net economic engines that they might appear to be. Especially in some areas where a new project generates it's economic gain from existing venues so there is little if any net gain.

Not slamming you. Just adding an econ note.

[LanternWaste]

15. So does investing in eduction.

"Actually racing brings a ton of money into the area..."

So does investing in eduction. One's simply not as glamorous or testosterone-inducing as the other..

[Bennyboy]

23. BUT

You have to have revenue to fund education. And this creates revenue that will fund education.

When the grateful dead used to play Vegas in the 90's they were almost asked to not come back until someone did a economic impact study and found out that they brought in billions of dollars to the community. After that Vegas welcomed the band to town and had things to do at night too to furthur the economic impact on Vegas.

It is the same way here. Or at any raccetrack that is near a major city, the economic impact is incredible.

[U4ikLefty]

52. Show me your stats.

[theHandpuppet]

58. But what do rich white guys get out of funding education?

Isn't that the question? Programs to entertain or line the pockets of wealthy white men still get public funding, whereas programs that employ/benefit any majority of women, kids, the poor or brown folks are expendable. If the fat cats need educated help they can always import them for crap wages. This is what I call a plantation mentality.

[plumbob]

18. Actually, this same scheme was tried in Las Vegas, and other cities.

All had failed by 2007.

From the OP:

Formula One races have failed to gain traction previously in the U.S. Since the 1970s, the series has been hosted by Long Beach, California, as well as Las Vegas, Detroit, Dallas, Phoenix and, most recently, Indianapolis. The races there ended in 2007 on declining attendance.

This is Red McCombs' project, San Antonio car dealer and owner of the Minnesota Vikings.

This is for $25 million per year for the next 10 for a total of $250 million.

100,000 Texas teachers are teaching their final classes right now.
10,000 Texas state employees will be gone in June.

But yachts? Sure.
Fucking race cars? Sure.

Watch what the loss of $6 BILLION a year in salaries comes to, as all the things that teachers do and buy drop by 20% (or more, as those still employed cut back, just in case).

[fascisthunter]

20. Teachers will always be more valuable than any form of entertainment or business

the long-term consequences of a student being taught are much more valuable than a government funding a private industry with tax payers money.

[SomeGuyInEagan]

28. Doubtful ...

For every study claiming so, there are studies claiming the opposite.

Having worked in economic development myself, the people I trust have told me many times that entertainment money is simply diverted from other entertainment activities (from movies or baseball games or restaurants or theaters). Once the construction is done, it is just another player going after a limited amount of entertainment dollars in the region. The exception being those truly unique things that pull people into the region from other parts of the country. Formula One has a bad track record for accomplishing that in U.S.

[Aerows]

14. Those who fund NASCAR

will never have a child in public school. Screw everyone else who pays tax money to fund public schools, because, you know, something only a handful of people can indulge in and profit from are FAR more important than you.

NASCAR is like the Knight's tournaments of old. For every knight on the field, there were 5,000 peasants starving in their fields to fund the extravagance. If a few of them died, they were treated like heroes, as opposed the the 100's that dies of starvation getting them there.

Welcome to feudalism. To quote William from "A Knight's Tale" - "They are nobles, because they took it from the point of a sword."

That's it. That's why they "deserve it".

[Mopar151]

19. You have no idea what you are talking about

And this track proposal has NOTHING to do with NASCAR.

[zeemike]

21. Exactly....n/t

[stockholmer]

17. here's the deal, we (EU) will keep F-1(not a fan,but it beats the shite out of NASCAR)you keep Texas

:silly:

[Mopar151]

37. Actually, F1 does'nt do well here

Because American racing fans have far more entertaining, and fan friendly series to watch. Our grassroots "farm system" for racin' is far deeper than Yurp, and leads US fans to demand better racing than F1 has been able to deliver here.
You can keep Bernie Ecclestone and Max Mosely, too.

[sofa king]

41. (It's really because NASCAR fans get confused when the cars make right turns.)

[Mopar151]

45. Hardly....

Last I knew, Sears Point, Watkins Glen, Road america, Lime Rock, PIR, Mexico City and Montreal were road courses....

[fascisthunter]

22. disgusting... may as well pay taxes to corporations now

[freshwest]

30. I think we are, the government is just the middle man. They're more in our face than any alleged...

Oppressive gummint! Who makes us pay for every flipping need in our lives? Not the government, our interactions with the government aren't a tenth of ours with corporations, etc. The government is the one we put in to keep them in control and off our backs. Now they want the government all the way out of the way. IMHO.

[fascisthunter]

43. that's it.... that's exactly what we are living through...

that's why I loathe Tea Baggers... they are actively working towards a fascist system.

[benld74]

24. Its the ONLY way to get the GOP to EVEN Look Left!!!!

[forty6]

26. Texas, what does one expect from the leadership of that state?

Stupidity has never known a better home than in Texas, witness George W Bush

NOW TO ALL TEXAS RESIDENTS WHO READ THIS.....I know Texas has many fine upstanding liberals, many fine good people, of any political persuasion... but most of the elected government of Texas is Cancerous to the people, and totally stupid and without conscience.

25 million a year for 10 years? I bet that would buy a lot of not stupid kids....let's see,

40 thousand per teacher, 225 teachers a year at 25 million, times the number of lives they can touch.

[Downwinder]

27. Texas -- replacement for Bahrain.

[BladesOfAiur]

29. Texas...

The land evolution forgot!

[LupinSansei72]

31. I don't know what to say..

Now I'm a big F-1 fan ever since the good old days of Aryton Senna in his red and white McLaren Honda driving circles around everybody else (except Alan Prost), BUT..for any state to pick F1 over paying the state teachers?!!! No! :argh:

[Downwinder]

33. Education is a National Security issue, Is Auto Racing?

[Mopar151]

36. Nope!

Racing is a great adjunct to education, and a fine educational and motavational tool in it's own right.

But, as with all other sports and arts - compared to the 3 R's? basic literacy? Not so much.....

[truthisfreedom]

39. They could pay 312 teachers $80,000 a year for this money. Or 416 $60K/year.

Freakin' Texas government.

[center rising]

40. F-1 is very popular around the world but..

It isn't very popular here. They tried to run F-1 races at Indianapolis for a few years, but it bombed.

[Javaman]

42. But hey! the kids love to watch cars go around in circles!

I know, it's a formula one course. Much different, but they still go in a circle, just one with more turns.

[Mopar151]

47. Racing can be a very good learning tool

But it ain't gonna replace literacy anytime soon.....

[LibertyLover]

44. I like Formula 1 racing -

and was excited to hear that there was going to be a purpose-build Formula 1 racetrack and race here in the US. My husband even joked about flying down to see it. But I certainly am not happy to hear how it is being funded. A brief segment on the track during the race a few weeks ago never even hinted at public funding, especially taking it away from education. That is simply ridiculous.

[retired af major]

46. Why no mention of the failed San Antonio Grand Prix?

I'm sorry about you losing your job. As a life long resident, the politics of Texas just freakin amaze me. Kinda stinks of union busting. Maybe you can move to Austin and become a lobbyist.

No mention of it anywhere, but San Antonio hosted a grand prix event in 1988. It didn't go over well, failing to draw enough spectators to make SA want to host it again and I understand the drivers disliked the rough track though the street of SA.

Interesting message here ... drop out of college to sell cars, make a fortune, donate $50 mil and have your name put on the UT School of Business, then get 25 mil from the state to finance an entertainment business venture. Wow.

$25 mil, that's a lot of racetrack. So if the state's taxpayers are paying for this does that mean they get free admission?

[Commie Pinko Dirtbag]

49. That was in Dallas, in 1984. -nt

[MaineDem]

50. Nigel Mansell tried to push his injured car over the line

He collapsed in the heat.

1984 eh? Doesn't seem that long ago.

[Mopar151]

48. How much taxpayer money does Texas spend on f'ball?

High school, college, and pro.I'll bet it makes this look like a drop in the bucket! Does'nt make this a good plan, by any stretch of the imagination.

[WatsonT]

51. These kinds of investments can only be justified if they will net more money in the long term

And it doesn't seem like that's the case.

So likely some politicians cousin owns the construction company while another one owns an automotive equipment store.

Find the people who signed off on these and beat the 250 million out of them.

[yurbud]

53. you got to give the kids something to watch since they can't go to school.

[Randy_P]

54. Perfect. Just Perfect.

No wonder we're so fucked up!

[alarimer]

55. And state of Texas employees like myself are getting a several hundred dollar paycut.

But it is better than being laid off.

OMFG I hate Republicans. I want them to die painfully.