by Diane Benjamin
You will have to read the previous post to understand this one: http://blnnews.com/2014/02/13/more-coliseum-nonsense/
Look once more at the Income reported by CIAM.
These items are listed as INCOME because the Coliseum is reimbursed for these expenses from the events held at the Coliseum. CIAM is taking their 4% without netting the Income they receive against the Expenses they incurred. The $695,114.17 is NOT pure INCOME. From the previous post it is obvious CIAM is taking a commission on income they shouldn’t be. The contract is written so poorly they can probably justify it though. They may charge the events a little more than they pay the staff, but what they did pay staff should be netted against the income before the 4%.
Expenses for events are listed here:
But there is still more:
This is income from merchandise sold at concerts etc. The Income goes to the Coliseum because they have the credit cards machines and they can take care of the Sales Tax. This is NOT money the Coliseum gets to keep:
They sold $339,407.39 worth of merchandise and paid the event $267,220.24.
They made a profit, but CIAM got 4% on the gross instead of the net. The Sales Tax doesn’t match because the Coliseum got a tiny discount for submitting it to the State on time. Again Coliseum management is paying itself 4% on Revenues that don’t belong to the Coliseum. It is simply run through the Coliseum.
Concessions are owned by John Butler, co-management of CIAM. He makes money on the concessions, then the CIAM gets another 4% – concessions are in income too.
CIAM got a management fee of $146,997
CIAM got commission of $158,139
Conservatively, John Butler and Bart Rogers took salaries of $100,000 each, including benefits.
Not counting concessions:
146,997+158,139+200,000 = $505,136
So the Gross Income at the Coliseum (without concessions) is $3,6535,577, but around 14% goes directly to management. That’s a conservative number.
Don’t forget the other businesses they run out of the Coliseum too.
I just got some information on the parking garage.
The concrete used was more porous than it should have been – to keep costs down. Over time water and ice destroyed it. Since the Coliseum was built at the same time, what does the foundation look like?
Maybe if there was some press in town they would have checked it out by now.
Kiss the parking garage and your tax money good-bye.
Do you see yet why government MUST be limited?
8 thoughts on “Two more things on the Coliseum . .”
If you build it, they will come. If it falls down, they will come and laugh.
So, when do you think the Pantagraph will notice?
Nothing supprises me , if the City of Bloomington has a hand in contruction. The Firestation #5 on Six Point Rd. was to have waterproof blocks on the outside, which was changed to ordinary blocks, it leaked like a sieve every time it rained ( saving money ?? )
All we need now is a hotel in Uptown Bloomington to go along with it. I don’t know where all the visitors to Fazzini’s Route 66 Museum are going to stay.
What was the specified mix for the concrete by the architect? If the incorrect mix was used who approved it? Isn’t it tested to ensure it meets all specifications during the construction process?
This is big.
It’s REALLY big of the Coliseum was built with the same mix. I really need help on this one. Interested in doing some FOIA’s?
But if government is limited how are the right-wing reactionaries going to get their daily fix of incessant complaining? You people NEED government, just admit it.
Of course we need government – just not the kind that builds Coliseums!