Tulio Bertorini: Memphis deeper in the red

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Eminem
Fatboy Slim
The La's

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tbertor1. Get yours at bighugelabs.com/flickr

Monday, July 10, 2006

Memphis deeper in the red

For those familiar with Memphis and its terrible business decisions, get ready to add one more to the list. If the deal Memphis made with the Fed Ex Forum wasn't bad enough. Memphis is now proposing a Riverfront Project. This would not be a bad idea if Memphis wasn't already in the hole with many of its Landmarks, such as Memphis Pyramid (check out the even listing), Mid-South Coliseum, Libertyland and I am guessing that there are many, many more that I missed.

The Memphis Pyramid probably has not had an event in who knows how long due to the deal that Slick Willie made with the people from the Fed Ex Forum and signed a non-compete agreement. Now the city is losing millions of Benjamins a year. Way to go Slick Willie.

The Mid-South Coliseum has been around and is a Memphis landmark, but has it made Memphis any cash in the past 10 years. This landmark needs to be either be torn down or the area around it needs to be re-vamped and the Mid-South Coliseum needs to be turned into some sort of Museum.

Libertyland was great 20 years ago when all the rides were new, but it has not had a new ride in a long time. This lost so much money, it has been closed and is having an auction for all its rides. Memphis needed to clean up the whole area and that would have helped Libertyland and Mid-South Coliseum. Next on the list of Memphis disaster will probably be Liberty Bowl.

The new proposal will cost millions and re-vamp the millions already spent years ago on the Memphis Riverfront. Go to Beale Street Landing Project and see what next failure will pull Memphis deeper into debt.

I hope for Memphis' sake it does succeed and we get out of the red and our ROI actually gets to where we need it to be. If Slick Willie was in charge of a major corporation, he would have been booted years ago.

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