NJ.comIn the wake of their Super Bowl 51 loss to the New England Patriots, the Atlanta Falcons have hired Flood as an assistant offensive line coach, the team announced Friday morning. That Flood would resurface in Atlanta makes sense since he formerly …Alabama staffer following Steve Sarkisian to AtlantaAL.comFalcons add Charlie Weis Jr., ex-Rutgers head […]
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Friday, February 17, 2017
AJC Watchdog: Atlanta bribery scandal’s Mississippi connections – Atlanta Journal Constitution
Atlanta Journal ConstitutionRows of boxes related to the ongoing bribery scandal at City Hall involve Mitzi Bickers, a political operative and former appointee of Mayor Kasim Reed who is a key figure in allegations involving contracts in Jackson, Miss. CHRIS JOYNER / CJOYNER@AJC. …read more From:: Atlanta News By Google News
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To Replace Sheldon Adelson With Banks, Oakland Raiders Need Over $650 Million For Las Vegas Stadium
To Replace Sheldon Adelson With Banks, Oakland Raiders Need Over $650 Million For Las Vegas Stadium
To Replace Sheldon Adelson, Oakland Raiders Need More Than $650 Million For Las Vegas NFL Stadium – Here's Why When Sheldon Adelson , Las Vegas Sands Founder and CEO and the catalyst for the Oakland Raiders plan to relocate to Las Vegas, pulled out of the effort, the media reported that the Silver and Black were trying to find 'someone' to replace the $650 million the casino mogul's intended $650 million investment. Then, this week, reports surfaced that Raiders President Marc Badain told “the NFL” that he secured, depending on who you believe, two or three banks to provide the $650 million. There's one thing wrong with all of the media reporting on this to date: the real amount is much more than the $650 million. It's more like between $738 million and as much as $1.1 billion the Raiders have to come up with. And the reason for that is, first, the bank financing interest rate, and second, the bond issue's debt coverage ratio. The bottom line problem for the Oakland Raiders, is team owner Mark Davis and its president Marc Badain lost what was $650 million in free money from Adelson in the process of what the Donald Trump supporter saw as an attempt to double-cross him with a stadium lease proposal drawn up without his knowledge. Prior to Adelson's announced departure, the $650 million was, as described by one source who was part of the Southern Nevada Tourism and Infrastructure Committee (the group assembled by Nevada Governor Brian Sandoval that made the recommendation to the Nevada Legislature to raise the Clark County Hotel Tax and install provisions for a $750 million stadium bond issue) , “a gift” and from various observers an investment in a “legacy” project for Las Vegas. At no point did Adelson, or any Las Vegas Sands employee, or the SNTIC staff, or documents, describe any interest rate attached to Adelson's investment. While Adelson expressed an interest in recovering “some” of his expenditure, he never once expressed a desire to make the $650 million investment a kind of loan, with an interest payment cost added to it. Moreover, Adelson never said whether or not he intended to get his entire $650 million back by way of a percentage of stadium revenue. Thus, Mark Davis briefly enjoyed what was, for all practical purposes, the closest thing to a $650 million stadium construction grant he's ever going to see from any entity other than the NFL itself – and now it's gone. The idea of a bank “replacing” what Adelson offered has to be challenged with this question: will any investment bank offer a no-interest-rate financing deal? Let's say the answer's a yes – then how does the investment bank make its money on the financing? The answer – it would not. Thus, no investment bank would do such a deal, and that's why one can't find such an example anywhere in America, at any time. So, let's say the $650 million that Marc Badain seeks comes with a 7 percent interest rate from the banks he's talking to. According to a basic calculation for a 30-year-bond issue with an annual payment, that comes to $738.64 million, or an interest cost of an additional $88.64 million. So, before you say, “Well, that's not THAT much more”, consider this: the bank will want to know how robust the revenue stream used to pay for the bond issue is – and that calls for a debt coverage analysis of the earmarked stadium revenue stream. The last time we went through a discussion of how strong a dedicated revenue source was in the matter of the Oakland Raiders Las Vegas NFL Stadium Project, the focus was the higher hotel tax revenue expected over a 30-year-period. With a low, and controversial, debt coverage ratio of 1.5 to 1, the required money added up to $1.125 billion, rather than the $1.5 billion if it were 2 to 1. But that's beside the point. Let's use 1.5 to 1 as our bond debt coverage ratio for what would have to be a suite of dedicated stadium revenues used to pay off the $650 million bond issue that Badain seeks. So, $738.64 million times 1.5 comes to $1.107 billion. In order to comfortably pay off the $650 million bond issue, the Oakland Raiders Las Vegas Stadium would have to throw off $1.107 billion over a 30 year period. In order for the Raiders to do that, the organization would have to dedicate almost 100 percent of the annual revenue from 200 luxury boxes at an average yearly cost of $200,000 each. The Raiders proposed stadium lease agreement says they would not use a dime of luxury suite revenue for stadium construction. The bottom line is the Oakland Raiders would face an expensive penalty for Sheldon Adelson's departure if they continued to pursue the Las Vegas plan – one they aren't going to even try and pay, in the end. Indeed, no smart stadium developer would want to. More: http://ift.tt/2lq9HtM
via YouTube https://youtu.be/mG9Lb3HGJ7M
To Replace Sheldon Adelson, Oakland Raiders Need More Than $650 Million For Las Vegas NFL Stadium – Here's Why When Sheldon Adelson , Las Vegas Sands Founder and CEO and the catalyst for the Oakland Raiders plan to relocate to Las Vegas, pulled out of the effort, the media reported that the Silver and Black were trying to find 'someone' to replace the $650 million the casino mogul's intended $650 million investment. Then, this week, reports surfaced that Raiders President Marc Badain told “the NFL” that he secured, depending on who you believe, two or three banks to provide the $650 million. There's one thing wrong with all of the media reporting on this to date: the real amount is much more than the $650 million. It's more like between $738 million and as much as $1.1 billion the Raiders have to come up with. And the reason for that is, first, the bank financing interest rate, and second, the bond issue's debt coverage ratio. The bottom line problem for the Oakland Raiders, is team owner Mark Davis and its president Marc Badain lost what was $650 million in free money from Adelson in the process of what the Donald Trump supporter saw as an attempt to double-cross him with a stadium lease proposal drawn up without his knowledge. Prior to Adelson's announced departure, the $650 million was, as described by one source who was part of the Southern Nevada Tourism and Infrastructure Committee (the group assembled by Nevada Governor Brian Sandoval that made the recommendation to the Nevada Legislature to raise the Clark County Hotel Tax and install provisions for a $750 million stadium bond issue) , “a gift” and from various observers an investment in a “legacy” project for Las Vegas. At no point did Adelson, or any Las Vegas Sands employee, or the SNTIC staff, or documents, describe any interest rate attached to Adelson's investment. While Adelson expressed an interest in recovering “some” of his expenditure, he never once expressed a desire to make the $650 million investment a kind of loan, with an interest payment cost added to it. Moreover, Adelson never said whether or not he intended to get his entire $650 million back by way of a percentage of stadium revenue. Thus, Mark Davis briefly enjoyed what was, for all practical purposes, the closest thing to a $650 million stadium construction grant he's ever going to see from any entity other than the NFL itself – and now it's gone. The idea of a bank “replacing” what Adelson offered has to be challenged with this question: will any investment bank offer a no-interest-rate financing deal? Let's say the answer's a yes – then how does the investment bank make its money on the financing? The answer – it would not. Thus, no investment bank would do such a deal, and that's why one can't find such an example anywhere in America, at any time. So, let's say the $650 million that Marc Badain seeks comes with a 7 percent interest rate from the banks he's talking to. According to a basic calculation for a 30-year-bond issue with an annual payment, that comes to $738.64 million, or an interest cost of an additional $88.64 million. So, before you say, “Well, that's not THAT much more”, consider this: the bank will want to know how robust the revenue stream used to pay for the bond issue is – and that calls for a debt coverage analysis of the earmarked stadium revenue stream. The last time we went through a discussion of how strong a dedicated revenue source was in the matter of the Oakland Raiders Las Vegas NFL Stadium Project, the focus was the higher hotel tax revenue expected over a 30-year-period. With a low, and controversial, debt coverage ratio of 1.5 to 1, the required money added up to $1.125 billion, rather than the $1.5 billion if it were 2 to 1. But that's beside the point. Let's use 1.5 to 1 as our bond debt coverage ratio for what would have to be a suite of dedicated stadium revenues used to pay off the $650 million bond issue that Badain seeks. So, $738.64 million times 1.5 comes to $1.107 billion. In order to comfortably pay off the $650 million bond issue, the Oakland Raiders Las Vegas Stadium would have to throw off $1.107 billion over a 30 year period. In order for the Raiders to do that, the organization would have to dedicate almost 100 percent of the annual revenue from 200 luxury boxes at an average yearly cost of $200,000 each. The Raiders proposed stadium lease agreement says they would not use a dime of luxury suite revenue for stadium construction. The bottom line is the Oakland Raiders would face an expensive penalty for Sheldon Adelson's departure if they continued to pursue the Las Vegas plan – one they aren't going to even try and pay, in the end. Indeed, no smart stadium developer would want to. More: http://ift.tt/2lq9HtM
via YouTube https://youtu.be/mG9Lb3HGJ7M
Thursday, February 16, 2017
Donald Trump Press Conference Was Not How A President Leads The Nation
Donald Trump Press Conference Was Not How A President Leads The Nation
Donald Trump Press Conference Was Not How A President Leads The Nation
via YouTube https://youtu.be/PYI_qM61kyU
Donald Trump Press Conference Was Not How A President Leads The Nation
via YouTube https://youtu.be/PYI_qM61kyU
The Atlanta brewery that lost a bet to Sam Adams released its Patriots Pale Ale – Boston.com
Boston.comBack in January, Atlanta craft beer maker Sweetwater Brewing challenged the makers of Sam Adams to a Super Bowl bet: the losing brewery would have to brew a beer named after the winning team, with Sam Adams potentially producing Dirty Bird Lager …Atlanta brewer makes ‘Patriots’ beer after losing Super Bowl bet to Samuel AdamsThe […]
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These Atlanta restaurants are participating in ‘A Day Without Immigrants’ – WSB Atlanta
WSB AtlantaThe burger restaurant closed all its metro Atlanta locations in Dunwoody, Decatur and Buckhead. Farm Burger released a statement addressing the closures. Chai Pani and Botiwalla. The Chai Pani restaurant group, which owns Chai Pani in Decatur and …These Atlanta Restaurants Stand in Solidarity With Immigrants on Thursday [Updated]Eater AtlantaLocal restaurant group responds to […]
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‘A Day Without Immigrants’ brings parts of Atlanta area to a halt – Atlanta Journal Constitution
Atlanta Journal Constitution“We -– as many, many restaurants in Atlanta and throughout the country – are supported by the employment of an immigrant workforce,” said George Frangos, a co-owner of the grass-fed burger chain. “Collectively, we talked about what this day meant to … …read more From:: Atlanta News By Google News
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Second contractor pleads guilty in Atlanta City Hall bribery probe – Atlanta Journal Constitution
Atlanta Journal ConstitutionCharles P. Richards, Jr., pled guilty to conspiracy to commit bribery in federal court Thursday. Richards is the second contractor to plead guilty to bribery charges in the on-going investigation of Atlanta City Hall corruption. Federal prosecutors …Second contractor pleads guilty in Atlanta bribery scandal11alive.com2nd businessman pleads guilty in Atlanta City Hall bribery […]
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Atlanta police to release video of deadly police shooting – Journal Times
Journal TimesATLANTA (AP) — Police plan to release surveillance video of a deadly police shooting outside the Atlanta Public Safety annex. Atlanta police spokeswoman Elizabeth Espy told the Atlanta Journal-Constitution (http://bit.ly/2lOYqnW ) that video in the …Officer in Atlanta shooting death named; video to be releasedAtlanta Journal Constitution all 8 news articles …read more From:: […]
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Pres. Obama's First Press Conference
Pres. Obama's First Press Conference
Pres. Barack Obama spoke about his economic stimulus package during his first Presidential press conference. Out of the 13 questions asked, 7 dealt with the economy.
via YouTube https://youtu.be/cmgOfWMnMTc
Pres. Barack Obama spoke about his economic stimulus package during his first Presidential press conference. Out of the 13 questions asked, 7 dealt with the economy.
via YouTube https://youtu.be/cmgOfWMnMTc
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