colorado community college headmaster grossly overestimated revenue to sell ammendment 50 to Colorado voters.

New gambling revenue falling far short of forecastBy Andy Vuong The Denver PostPosted: 12/20/2009 01:00:00 AM MST

Nancy McCallin, president of the Colorado Community College System, says community colleges may receive just $2 million to $3 million from gambling taxes during the first year of new games and table limits. The 2008 ballot measure that eased gambling regulations was pitched as a way to bolster the ever-slimming budgets of the state's community colleges.

Much of the additional tax revenue generated from higher bet limits, 24-hour gambling and new table games would go to the schools, an estimated $29 million during the first year and $222 million over five years."Anything that's going to add over $200 million over the next five years . . . is very good for us," Nancy McCallin, president of the Colorado Community College System, said in November 2008 shortly after it was disclosed that voters had approved Amendment 50.

Now, more than five months after the gambling changes took effect in July, McCallin says community colleges may receive just $2 million to $3 million from gambling taxes during the first year. Despite a sparkling first month, the Amendment 50 changes — which came as gamblers were cutting back on casino trips amid the economic recession — haven't boosted revenue by nearly as much as initially projected.

A Denver Post analysis based on the first five months of data shows colleges could receive $4.4 million during the first year, if business stays at the current pace."We knew that it was going to be a year where we didn't have a whole lot of information, and so we knew that any of the projections were going to be a guesstimate, at best," McCallin said last week.Community colleges won't receive gaming funds until September. As required by the measure, the money has to go toward classroom instruction and financial aid.McCallin said she won't make plans on how that money will specifically be used until May, when the budgeting process for fiscal 2011 begins.

This year, state funding for community colleges was cut from $142 million to $106 million, though much of that was made up with one-time federal funding, she said.For fiscal 2011, community colleges face an $11 million cut, with no assurance that federal funding will cover the gap."That's happening the same time when our enrollment is surging, so we're going to see some substantial cuts next year," McCallin said.

Casino revenue is up 8.5 percent this fiscal year, which began in July. Industry officials initially projected growth of 20 percent to 25 percent.In November, only Black Hawk casinos saw a revenue gain, posting a 13 percent increase, according to data released last week by the Colorado Division of Gaming. Central City and Cripple Creek casinos each reported declines of about 5 percent.

Even with lower-than-expected revenue from the changes, there are concerns among historic-preservation officials that community colleges are set to receive too much of the gambling tax. When voters approved casino gambling in Black Hawk, Central City and Cripple Creek nearly two decades ago, the intention was to use the tax revenue to help restore and preserve the historic mining towns.Dan Love, president of the board of directors of Colorado Preservation Inc., said community colleges stand to receive "a disproportionately large share" of the revenue.

As it stands now, existing recipients of gambling tax revenue, which include the state historical fund and general fund, would receive $97.7 million this fiscal year (a 3 percent increase from fiscal 2009), before regulatory expenses are subtracted. Anything generated above $97.7 million is earmarked for Amendment 50 recipients, with 78 percent going to community colleges and the rest going to the various casino cities and counties.

With a projected $106 million in gambling tax revenue for fiscal 2010, based on five months of data, Amendment 50 recipients would receive $8.3 million, before regulatory and other charges. After those charges, the Amendment 50 pot drops to an estimated $5.7 million."We weren't doing this for a single increase in funding," McCallin said. "We were in this for the longer term. And longer term, we know that the gaming industry will turn around as the economy turns around and we'll see increased revenue."

Gambling is not Economic Development

December 15th, 2009 How Has the Recession Affected The Gambling Industry?

The recession has led to many people becoming more conservative with their spending, and this could be bad news for gambling revenues, as casinos nationwide experience huge drops in attendance and overall money spent. In order to combat consumers who are less willing to roll the dice with their dwindling savings, casinos are desperately trying to find ways to stay afloat.Atlantic City Recent numbers out of Atlantic City, the weekend gambling location for New York’s risk takers, have see decreasing returns from last year, taking in 13.4% less this November compared to 2008.

According to a report by USAPlayers.com, each of the cities 11 casinos reported a decline in earnings last month, with the biggest losses experienced in the table games, which saw a 21% drop from last year. Slot machines dropped as well, but slightly less, only 9.5%.Some casinos have cashed in their chips, deciding that they are not willing to continue to take losses in an economy that doesn’t seem will be sending customers back to the craps tables anytime soon.

The Boardwalk Casino, one of Atlantic Cities oldest gambling establishments, will soon hand over its casino to lender Wells Fargo.Las VegasEven Las Vegas isn’t immune to this latest trend, seeing an industry-wide drop in revenue of 11.6% from a year ago. October marked the 22nd straight decline in revenue, reaching its lowest point since 2003.

In an interview with the Las Vegas Review-Journal, senior director of marketing for the Las Vegas Convention and Visitors Authority Kevin Bagger said that while attendance has started to recover, consumers are still spending less.“We’re happy to see the increase in volume, but consumer spending is still impacted by the broader economy,” he said.

Because of the drop in earnings, casinos have been forced to cut down on employees; MGM Mirage laid off over 1,000 of its workers last year. Casinos are one of the major sources of jobs in Las Vegas, employing around 27% of the total workforce, according to author and former Caesar’s Palace gaming instructor Barney Vinson.

Not Recession Proof After AllThe numbers coming out of the gambling industry over the last year seem to disprove the thought that gambling is a recession proof industry.

There are some who claim that even as consumers personal incomes decline and unemployment rises, gambling will remain constant or even increase as people become desperate for quick ways to increase their money. However, with revenue losses forcing casinos nationwide to increase layoffs, and less strict gambling laws leading to competition for traditional gambling centers like Atlantic City and Las Vegas, it seems the recession may hit harder, and last longer, for the gambling industry.

Here's To You Mrs. Wilkerson

Mrs. Kathy Wilkerson will assume a coordinator’s position at the soon-to-be re-engineered Monroe, News Star according to well placed sources in Ouachita Parish, Louisiana.

Like Gannett’s Hattiesburg, MS, American is to its Jackson, MS, Clarion Ledger, the News Star is scheduled during the next calendar year to be down-sized to just a bureau of the much more important Shreveport Times.

It’s sad for Ken Stickney, who is really running the News Star day and night while Mrs. Wilkerson and her hubby are doing the North Side Monroe social scene, most recently in ULM’s Brown Hall Row I for the Tom Friedman talk. He will probably be down-sized as well after the publisher who delayed his long over due retirement finally departs N. 4th Street. It’s a second smack down for him.

Maybe after the dust settles, Ken and Kathy can get on the Louisiana State Teat with their spouses at Delta Community College and the University of Louisiana Monroe, respectively.

caldwell loser big time

mark your calendar, today, Monroe city judge fred amman has been tapped by lincoln parish da bob levy's law firm, hudson, potts, and bernstein, to be judge marcus clark's replacement on the 4th district court.

even police juror "guy" smiley's wife, laurie burkett is withdrawing her candidacy. charley heck can't be far behind, jeff joyce too.

poor walt caldwell he gave big bucks to clark's campaign on the promise that he would be the heir to his seat. and this even after he vanished from the vote on the tax for the v-vehicle.

label caldwell loser!

national political corruption

Tuesday, Nov. 24, 2009
Senator's Affair Revealed in Text Message
By AP / KEVIN FREKING
(WASHINGTON) — A Nevada man whose wife had an affair with Sen. John Ensign said he discovered the relationship after intercepting a text message around Christmas in 2007.
"How wonderful it is. ... Scared, but excited," it read.
Doug Hampton recounted the text message during an interview taped for broadcast Monday night on ABC's "Nightline." The interview covered a lot of ground already made public since Ensign, R-Nev., admitted to the extramarital affair in June, but provided new details about how the affair was discovered as well as the senator's reaction when Hampton confronted him. (Top 10 Political Sex Scandals: Sen. John Ensign)
The acknowledgment of the affair has led to a huge fall from grace for a man that many viewed as a rising star within the GOP. He's now fighting to complete a second term in office that continues through 2012.
The Hamptons and Ensigns had been close family friends for years. Hampton told "Nightline" he confronted Ensign when both families were present during a Christmas Eve gathering. "John cries like a kid. Puts his head in his hands, cries like a little boy," Hampton said, adding that he heard remorse and panic in his old friend's voice but now believes it was disingenuous.
Hampton continued to work for Ensign as his co-chief of staff. He said that the two went on a trip to Iraq in February 2008. He said he was having troubles with his telephone and asked to borrow Ensign's to call his wife. He said Ensign scrolled to a listing for Aunt Judy instead of Cindy Hampton. "And then I realize, Wow, wow, something is seriously wrong," he said, that the affair was still going on. (Top 10 Political Sex Scandals: Kwame Kilpatrick.)
Hampton makes clear through the interview he isn't going away quietly and believes Ensign abused his power in pursuing the affair. Ensign's legal team has said it's confident that all laws and ethics rules were followed in the case, which includes Ensign helping Hampton gain employment with a lobbying firm as well as Ensign's parents providing the Hamptons with a payment of nearly $100,000 that they described as a gift. "I truly wish that I could publicly respond to each one of Doug Hampton's allegations," Ensign said. "They are full of half truths and untruths. I will cooperate with any investigation because I have not violated any law or Senate ethics rule. If Doug Hampton violated federal law and rules, I did not advise him to do so, I did not suggest that he do so, and I did not cooperate with his doing so."

cofer told faculty no furloughs at ulm if they taught for free, now what?

Priorities at ULMposted Tuesday, August 4th, 2009 @ 10:34 pm
The University of Louisiana-Monroe unveiled its plan on Monday to cope with a $4.5-million reduction in state funding for the 2009-2010 fiscal year, which began July 1.Like every publicly funded higher education institution in Louisiana, ULM faced a cut in state appropriations for the new fiscal year. The higher education community as a whole was dealt a more than $100 million budget cut. The cut was necessary in light of a more than $1 billion budget shortfall the Legislature encountered during its regular session. The 2009 regular legislative session adjourned in late June.According to ULM, the university will not renew contracts for 36 faculty and other staff members to deal with its reduction in state funding in the new fiscal year. More than 41 vacant faculty and staff positions will be eliminated. Also, staff members at ULM will take furloughs from one to four days depending upon their annual salary. Staffers who make less than $30,000 per year and ULM law enforcement personnel will not be affected by the furloughs. Faculty members won't be affected by furloughs either.According to Laura Harris, a spokesperson at ULM, no tenured or tenure-track faculty members were terminated to aid the university's efforts to balance its budget, which must be approved by the governing board at the University of Louisiana System later this month.If Harris is correct, ULM was wise not to terminate any tenured or tenure-track faculty members. Tenured and tenure-track faculty represent the backbone of any university.In the meantime, let us recall what ULM proposed earlier this year when we learned the higher ed community in Louisiana faced a more than $200 million budget cut for the new fiscal year. At the time, ULM President James Cofer proposed that the university should eliminate some 49 tenured and/or tenure-track faculty positions to deal with ULM's share of higher ed's budget cut. Thanks to some fast-and-loose budgeting employed by the Legislature, higher ed was dealt a roughly $100 million budget cut instead of a more than $200 million cut in the new fiscal year.Let us recall as well that when we learned the higher ed community would be asked to trim its expenditures in the new fiscal year, literally every university president in the state called on the Legislature to raise taxes to offset proposed budget cuts for higher ed. Thankfully the Legislature ignored higher ed's bellyaching.While we regret to witness any of Louisiana's institutions of higher education deal with a reduction in state funding, we would do well to remind ourselves of why universities exist in the first place. They exist to educate people.That said, we are a bit disturbed by ULM's decision to spare its athletic department—for the most part—in sharing in cuts the university leveled to balance its budget. After all, ULM is projected to use some $2.7 million in state funding to prop up its athletic department in the 2009-2010 fiscal year.ULM should rethink its position on athletics versus education.If the university sticks to its guns, so to speak, we'll have a clear understanding of what's important at ULM and what's not.
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