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State budget may take hit from slots
State budget may take hit from slots
Published on 10/13/2009 in Home »State »State News
Hartford (AP) - Connecticut officials say this year's state budget could end up further in deficit because of declining slot machine revenues at the two casinos in the state.
Foxwoods Resort Casino and Mohegan Sun give Connecticut 25 percent of their slot machine revenues, under contracts with the state.
State officials say there could be a $50 million deficit in slot machine revenue when the fiscal year ends June 30, 2010. That's in addition to the $500 million deficit Comptroller Nancy Wyman is predicting for the year.
State officials planned for a 1 percent increase in slot machine revenue this year and a 3 percent increase next year in the current two year, $38 billion budget. But both casinos reported slot revenue declines of more than 10 percent in August.
"Regional"
Tuesday, October 13, 2009
Thursday, September 10, 2009
States Face Drop in Gambling Revenues
September 10, 2009
States Face Drop in Gambling Revenues
By IAN URBINA
CINCINNATI — Casinos and lotteries in most states are reporting a downturn in revenue for the first time, resulting in a drop in the money collected by state and local governments, according to new state data.
The decline comes as states are rapidly expanding gambling in hopes of stemming severe budget shortfalls, and it indicates that gambling is not insulated from broader economic forces like recessions, as has been argued in the past.
The drop has led some gambling experts to wonder whether the industry is reaching market saturation, whereby a limited number of gamblers with a fixed amount of money to bet is being split across a growing number of gambling options.
States that have been invested in gambling the longest have been hit hardest. Illinois reported a $166 million drop in tax revenue in fiscal year 2009, from 2008; Nevada had a $122 million drop, and New Jersey $62 million.
In hopes of enticing more gamblers, New Jersey lawmakers have repealed a smoking ban, and in Illinois they are considering allowing free drinks on riverboat casinos.
“The data shows that states take a real chance in depending on gambling because this revenue is not likely to keep pace with growing budgetary needs,” said Lucy Dadayan, a senior analyst at the Nelson A. Rockefeller Institute of Government at the State University at Albany, which will release a report on the subject next week.
“In the absence of new types of gambling, it can become a zero-sum game as states compete for the same pot.”
Others, however, argue that the current decline is temporary, and that the industry has plenty of room to expand. Some experts expect revenues to bounce back, but doubt they will be as robust as they were before the recession.
The 12 states that have casinos made $4.5 billion in fiscal year 2009, which ended June 30, a 7.4 percent drop from last year, according to the state data. Among the roughly 42 states with lotteries, 38 reported data indicating that they made $14.5 billion this year, a 2.6 percent drop compared with the earnings from the same states last year.
Gambling critics have long maintained that it provides short-term revenue at the expense of long-term social costs, like increased crime and addiction. But the new data also shows that the revenue collected by states and local governments is decreasing while competition for it is on the rise. Still, state leaders are looking for ways to get a piece of the earnings.
Here in Ohio, Gov. Ted Strickland, a Democrat and former Methodist minister, reversed his opposition to gambling and, in conjunction with the legislature, issued a directive allowing video slots at the state’s seven racetracks.
In Colorado, voters last year backed an increase in betting limits at casinos, and Missouri voters approved the end of limits on how much a gambler can lose. “We need those slots like nobody’s business,” said Mildred Cox, 77, who for 28 years has run the concession stand at River Downs here, one of the seven horse racing tracks slated to receive some of the state’s 17,500 proposed new slot machines. “Look at this place, it’s desolate.”
Across from her, a crowd of older men, betting tickets in hand, stood staring at several televisions mounted on the wall showing races in other states and Canada.
As a bell rang, the horses sprinted by, competing for a winning prize of $4,600. But the men barely broke their concentration from the televisions.
“You can’t attract the best horses and the biggest bettors with purses like that,” said Ms. Cox, pointing outside at a largely empty grandstand.
Thirty years ago, gamblers had to go to Las Vegas or Atlantic City to bet legally. Now, a dozen states have commercial casinos, 12 have “racinos,” or slot machines and other games that are installed at racetracks, 29 states have Indian casinos, and at least 42 states and the District of Columbia, have lotteries.
“When budgets get tight, expanding gambling always looks to lawmakers like the perfect quick-fix solution,” said John Kindt, a professor of business and legal policy at the University of Illinois who studies the impact of state-sponsored gambling. “But in the end, it so often proves to be neither quick nor a fix.”
Crime jumps 10 percent in areas with casinos, personal bankruptcies soar 18 percent to 42 percent and the number of new gambling addicts doubles, Mr. Kindt said. Predicted state revenue often falls short and plans frequently get tripped up by legal fights or popular opposition, he said.
In Delaware, for example, Gov. Jack Markell said in March that he wanted to legalize sports betting in casinos, which he said would bring in $53 million in the first year to help plug an $800 million budget shortfall. But the plan was blocked by a federal court in Philadelphia on Aug. 24 on the grounds that it would undermine confidence in professional sports.
In Ohio, Governor Strickland reversed his stance on video slots at racetracks based on a “conservative” estimate that the new machines would net more than $760 million to the state.
But the slots are not likely to arrive here any time soon because a lawsuit is pending before the Ohio Supreme Court that argues that the plan should be placed before the voters. The slots may also get overtaken by a proposed constitutional amendment that will be on the November ballot and would allow four full-fledged casinos, one each in Cincinnati, Cleveland, Columbus and Toledo.
Still, Frank J. Fahrenkopf Jr., president of the American Gaming Association, said states had plenty of reasons to want to expand gambling.
“Even though our revenues are down during the recession, bringing a casino into a community will still provide new jobs, new tax revenues, new opportunities for local vendors and other benefits that didn’t exist before,” Mr. Fahrenkopf said. “It isn’t surprising that as consumers are tightening their wallets, and with less discretionary spending for entertainment, they are spending less when they visit casinos, too.”
About 60 percent of people who participate in casino gambling have cut back on spending on the activity, according to a 2008 national survey conducted by the association.
Despite the downturn, revenue from racinos grew this fiscal year, producing $2.9 billion in taxes and fees in 12 states compared with $2.7 billion the year before, a 6.7 percent increase.
But Ms. Dadayan of the Rockefeller Institute said the racino windfalls might be short-lived because slot profits usually soften with time as their novelty wears off and more states add machines.
If Pennsylvania and Indiana, where slots are new, are excluded, the total slot revenue from the other 10 states with racinos actually fell by $76 million in fiscal year 2009, a 4 percent decline.
States Face Drop in Gambling Revenues
By IAN URBINA
CINCINNATI — Casinos and lotteries in most states are reporting a downturn in revenue for the first time, resulting in a drop in the money collected by state and local governments, according to new state data.
The decline comes as states are rapidly expanding gambling in hopes of stemming severe budget shortfalls, and it indicates that gambling is not insulated from broader economic forces like recessions, as has been argued in the past.
The drop has led some gambling experts to wonder whether the industry is reaching market saturation, whereby a limited number of gamblers with a fixed amount of money to bet is being split across a growing number of gambling options.
States that have been invested in gambling the longest have been hit hardest. Illinois reported a $166 million drop in tax revenue in fiscal year 2009, from 2008; Nevada had a $122 million drop, and New Jersey $62 million.
In hopes of enticing more gamblers, New Jersey lawmakers have repealed a smoking ban, and in Illinois they are considering allowing free drinks on riverboat casinos.
“The data shows that states take a real chance in depending on gambling because this revenue is not likely to keep pace with growing budgetary needs,” said Lucy Dadayan, a senior analyst at the Nelson A. Rockefeller Institute of Government at the State University at Albany, which will release a report on the subject next week.
“In the absence of new types of gambling, it can become a zero-sum game as states compete for the same pot.”
Others, however, argue that the current decline is temporary, and that the industry has plenty of room to expand. Some experts expect revenues to bounce back, but doubt they will be as robust as they were before the recession.
The 12 states that have casinos made $4.5 billion in fiscal year 2009, which ended June 30, a 7.4 percent drop from last year, according to the state data. Among the roughly 42 states with lotteries, 38 reported data indicating that they made $14.5 billion this year, a 2.6 percent drop compared with the earnings from the same states last year.
Gambling critics have long maintained that it provides short-term revenue at the expense of long-term social costs, like increased crime and addiction. But the new data also shows that the revenue collected by states and local governments is decreasing while competition for it is on the rise. Still, state leaders are looking for ways to get a piece of the earnings.
Here in Ohio, Gov. Ted Strickland, a Democrat and former Methodist minister, reversed his opposition to gambling and, in conjunction with the legislature, issued a directive allowing video slots at the state’s seven racetracks.
In Colorado, voters last year backed an increase in betting limits at casinos, and Missouri voters approved the end of limits on how much a gambler can lose. “We need those slots like nobody’s business,” said Mildred Cox, 77, who for 28 years has run the concession stand at River Downs here, one of the seven horse racing tracks slated to receive some of the state’s 17,500 proposed new slot machines. “Look at this place, it’s desolate.”
Across from her, a crowd of older men, betting tickets in hand, stood staring at several televisions mounted on the wall showing races in other states and Canada.
As a bell rang, the horses sprinted by, competing for a winning prize of $4,600. But the men barely broke their concentration from the televisions.
“You can’t attract the best horses and the biggest bettors with purses like that,” said Ms. Cox, pointing outside at a largely empty grandstand.
Thirty years ago, gamblers had to go to Las Vegas or Atlantic City to bet legally. Now, a dozen states have commercial casinos, 12 have “racinos,” or slot machines and other games that are installed at racetracks, 29 states have Indian casinos, and at least 42 states and the District of Columbia, have lotteries.
“When budgets get tight, expanding gambling always looks to lawmakers like the perfect quick-fix solution,” said John Kindt, a professor of business and legal policy at the University of Illinois who studies the impact of state-sponsored gambling. “But in the end, it so often proves to be neither quick nor a fix.”
Crime jumps 10 percent in areas with casinos, personal bankruptcies soar 18 percent to 42 percent and the number of new gambling addicts doubles, Mr. Kindt said. Predicted state revenue often falls short and plans frequently get tripped up by legal fights or popular opposition, he said.
In Delaware, for example, Gov. Jack Markell said in March that he wanted to legalize sports betting in casinos, which he said would bring in $53 million in the first year to help plug an $800 million budget shortfall. But the plan was blocked by a federal court in Philadelphia on Aug. 24 on the grounds that it would undermine confidence in professional sports.
In Ohio, Governor Strickland reversed his stance on video slots at racetracks based on a “conservative” estimate that the new machines would net more than $760 million to the state.
But the slots are not likely to arrive here any time soon because a lawsuit is pending before the Ohio Supreme Court that argues that the plan should be placed before the voters. The slots may also get overtaken by a proposed constitutional amendment that will be on the November ballot and would allow four full-fledged casinos, one each in Cincinnati, Cleveland, Columbus and Toledo.
Still, Frank J. Fahrenkopf Jr., president of the American Gaming Association, said states had plenty of reasons to want to expand gambling.
“Even though our revenues are down during the recession, bringing a casino into a community will still provide new jobs, new tax revenues, new opportunities for local vendors and other benefits that didn’t exist before,” Mr. Fahrenkopf said. “It isn’t surprising that as consumers are tightening their wallets, and with less discretionary spending for entertainment, they are spending less when they visit casinos, too.”
About 60 percent of people who participate in casino gambling have cut back on spending on the activity, according to a 2008 national survey conducted by the association.
Despite the downturn, revenue from racinos grew this fiscal year, producing $2.9 billion in taxes and fees in 12 states compared with $2.7 billion the year before, a 6.7 percent increase.
But Ms. Dadayan of the Rockefeller Institute said the racino windfalls might be short-lived because slot profits usually soften with time as their novelty wears off and more states add machines.
If Pennsylvania and Indiana, where slots are new, are excluded, the total slot revenue from the other 10 states with racinos actually fell by $76 million in fiscal year 2009, a 4 percent decline.
Monday, September 7, 2009
Sen. Voinovich: "When it comes to gambling you can't be half pregnant".
Friday, September 04, 2009 Reginald FieldsPlain Dealer Bureau ChiefColumbus- U.S. Sen. George Voinovich, a longtime gambling opponent, called out Gov. Ted Strickland on Thursday for flipping his position on gambling and authorizing slot machine betting at Ohio racetracks. Voinovich, speaking during a news conference called to oppose the slots plan and a separate casino issue, raised his voice, pounded a lectern and twice referred to God as the source that has helped opponents beat back every prior attempt at full-fledged gambling here. Strickland's office responded, saying the Democratic governor knew he would be criticized but offers no apologies for making the tough call for slots to help balance Ohio's budget.
Voinovich, a former Ohio governor and Cleveland mayor, recalled how Strickland joined him in 2006 to oppose a gambling ballot proposal and came out against another gambling proposal just last year, saying it was bad for Ohio families and not the route to economic recovery. Strickland's plan, backed by the state legislature and approved in July, legalizes up to 17,500 slot machines at Ohio's seven horse-racing tracks under the authority of the Ohio Lottery. "Based on his past comments, he knows this is not in the best interest of Ohio families," Voinovich charged. "These slots will run 24 hours a day and be available to even people who aren't old enough to buy alcoholic beverages. "And I think he's got to understand," the Republican senator continued, "that when it comes to gambling, you can't be half-pregnant. The expansion of the lottery is opening the door to full-blown gambling in this state." Strickland's office took Voinovich's criticism in stride, saying it had few other options for balancing the budget for the next two years in light of Ohio's depressing economic outlook. Strickland is counting on the slots plan to bring in $933 million between now and June 2011. "The world changed tremendously about a year ago with the collapse of Lehman Brothers when Ohio began to face a lingering national recession which led to a shortfall in this state," said Strickland spokeswoman Amanda Wurst.
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http://www.cleveland.com/open/index.ssf/2009/09/sen_george_voinovich_blasts_sl.html
Voinovich, a former Ohio governor and Cleveland mayor, recalled how Strickland joined him in 2006 to oppose a gambling ballot proposal and came out against another gambling proposal just last year, saying it was bad for Ohio families and not the route to economic recovery. Strickland's plan, backed by the state legislature and approved in July, legalizes up to 17,500 slot machines at Ohio's seven horse-racing tracks under the authority of the Ohio Lottery. "Based on his past comments, he knows this is not in the best interest of Ohio families," Voinovich charged. "These slots will run 24 hours a day and be available to even people who aren't old enough to buy alcoholic beverages. "And I think he's got to understand," the Republican senator continued, "that when it comes to gambling, you can't be half-pregnant. The expansion of the lottery is opening the door to full-blown gambling in this state." Strickland's office took Voinovich's criticism in stride, saying it had few other options for balancing the budget for the next two years in light of Ohio's depressing economic outlook. Strickland is counting on the slots plan to bring in $933 million between now and June 2011. "The world changed tremendously about a year ago with the collapse of Lehman Brothers when Ohio began to face a lingering national recession which led to a shortfall in this state," said Strickland spokeswoman Amanda Wurst.
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http://www.cleveland.com/open/index.ssf/2009/09/sen_george_voinovich_blasts_sl.html
Tuesday, September 1, 2009
Oh The Pain!
The University of Louisiana Board of Supervisors met one week after they partied hearty with Pat Banitar (Patricia Mae Andrzejewski to her friends) at the Paragon Casino in Marksville, LA, and rubber stamped the "plan" from the lsujc/nelscu/nlu/ulm to furlough surviving faculty and staff and fire 36 faculty and staff. The lies, Cofer told the faculty that if they taught for free no one would be fired; Cofer told the NewsStar there would be no furloughs because the faculty were working for free; Cofer told KNOE TV there would be no programs eliminated. Economics, Occupuational Theraphy, Philosophy, Entrepreneurship, and Home Economics have been killed, forever. Aviation, Agriculture, and Dental Hygiene are on life support. But who cares about the chronic illnesses at ULM? Well obviously not the governor's people on the Board of Supervisors.
Maybe the Board of Regents and her highness Sally Clausen EdD will do something this week at their board meeting. She hired Cofer. Or the Regents who have budget authority over all higher education might block these furloughs and firings. But alas, the closest board member to Monroe, LA, is the morally and professionally conflicted District Attorney of Lincoln Parish and of counsel at Hudson Potts and Bernstein law firm, Robert Levy.
Maybe the Board of Regents and her highness Sally Clausen EdD will do something this week at their board meeting. She hired Cofer. Or the Regents who have budget authority over all higher education might block these furloughs and firings. But alas, the closest board member to Monroe, LA, is the morally and professionally conflicted District Attorney of Lincoln Parish and of counsel at Hudson Potts and Bernstein law firm, Robert Levy.
Tuesday, August 18, 2009
Louisiana Mississippi casinos stop new construction, loose jobs
Written by LAN SAYRE
NEW ORLEANS (AP) – With the recession tightening gamblers’ wallets, Louisiana and Mississippi state-licensed casinos registered drops in wagering revenue in April.
Mississippi casinos recorded an 11.7 percent fall from $232.8 million in March to $205.4 million in April, the State Tax Commission reported Tuesday.
In Louisiana, riverboat casinos, Harrah’s downtown New Orleans casino and the four slot casinos at racetracks won $202.6 million in April, down 7.1 percent from $218.1 million in March, state police reported.
It was the fourth consecutive month of revenue drops for Louisiana casinos, which, for some time, had resisted economic pressure and enjoyed strong figures while markets such as Nevada and New Jersey experienced double-digit drops.
Mississippi casino winnings from January to April dropped 7.9 percent this year to $872.8 million from $947.8 million for the first four months of 2008. In Louisiana, the drop was much less: 1.5 percent to $864.9 million from $878.5 million.
Industry analysts said Indian reservation casinos are offering competition for Texas customers of casinos in the Shreveport-Bossier City area of northwest Louisiana. Indian-operated casinos in Florida also are stepping up competition for Mississippi Gulf Coast casinos that draw from eastern Gulf states.
Larry Gregory, executive director of the Mississippi Gaming Commission, said the results show regional, drive-to markets are faring much better during the recession than larger gambling meccas.
“People are just not hopping on a plane and going,” Gregory said.
Mississippi Gulf Coast casinos won $92.7 million last month, down from $101.9 million in March, while those along the Mississippi River took in $112.8 million, down from the March figure of $130.9 million.
“We’re still seeing the same amount of visitors, but they’re apparently not spending as much,” Gregory said.
In Louisiana, the Shreveport-Bossier City market, which has five riverboats and the Louisiana Downs track casino, took in $64.8 million last month, down from $69.4 million in April. The Lake Charles market, with three riverboats and the Delta Downs track casino, won $53 million, a slide from $58.1 million in March. Both markets are heavily dependent upon Texas gamblers.
The New Orleans market, which has two riverboats, the downtown casino and the Fair Grounds track casino, won $54 million in April, a fall from $58.4 million in March. The two riverboats in Baton Rouge won $17.9 million in April, a drop from March’s $18.8 million.
The single riverboat in the Morgan City area took in $4.4 million last month, down from $4.6 million in March. The Evangeline Downs track casino at Opelousas won $8.6 million in April, a dip from $8.7 million in March.
The two states’ figures do not include Indian reservation casinos, which are not required to publicly report winnings.
The slowdown in both states is cutting casino employment and delaying new casino projects.
According to the American Gaming Association, casino jobs fell 6 percent – or 1,830 – year in Mississippi to 28,740, while employment in Louisiana dropped 4.1 percent – or 740 jobs – to 17,268.
In Biloxi, Harrah’s Entertainment Inc. has put the $700 million Margaritaville Casino & Resort project on hold. In Louisiana, Pinnacle Entertainment Inc. has received five-month delays in its plans for two riverboat casino projects totaling $600 million for Lake Charles and Baton Rouge. In addition to a slowdown in play, casino companies find construction financing virtually impossible to get because of the national credit meltdown.
NEW ORLEANS (AP) – With the recession tightening gamblers’ wallets, Louisiana and Mississippi state-licensed casinos registered drops in wagering revenue in April.
Mississippi casinos recorded an 11.7 percent fall from $232.8 million in March to $205.4 million in April, the State Tax Commission reported Tuesday.
In Louisiana, riverboat casinos, Harrah’s downtown New Orleans casino and the four slot casinos at racetracks won $202.6 million in April, down 7.1 percent from $218.1 million in March, state police reported.
It was the fourth consecutive month of revenue drops for Louisiana casinos, which, for some time, had resisted economic pressure and enjoyed strong figures while markets such as Nevada and New Jersey experienced double-digit drops.
Mississippi casino winnings from January to April dropped 7.9 percent this year to $872.8 million from $947.8 million for the first four months of 2008. In Louisiana, the drop was much less: 1.5 percent to $864.9 million from $878.5 million.
Industry analysts said Indian reservation casinos are offering competition for Texas customers of casinos in the Shreveport-Bossier City area of northwest Louisiana. Indian-operated casinos in Florida also are stepping up competition for Mississippi Gulf Coast casinos that draw from eastern Gulf states.
Larry Gregory, executive director of the Mississippi Gaming Commission, said the results show regional, drive-to markets are faring much better during the recession than larger gambling meccas.
“People are just not hopping on a plane and going,” Gregory said.
Mississippi Gulf Coast casinos won $92.7 million last month, down from $101.9 million in March, while those along the Mississippi River took in $112.8 million, down from the March figure of $130.9 million.
“We’re still seeing the same amount of visitors, but they’re apparently not spending as much,” Gregory said.
In Louisiana, the Shreveport-Bossier City market, which has five riverboats and the Louisiana Downs track casino, took in $64.8 million last month, down from $69.4 million in April. The Lake Charles market, with three riverboats and the Delta Downs track casino, won $53 million, a slide from $58.1 million in March. Both markets are heavily dependent upon Texas gamblers.
The New Orleans market, which has two riverboats, the downtown casino and the Fair Grounds track casino, won $54 million in April, a fall from $58.4 million in March. The two riverboats in Baton Rouge won $17.9 million in April, a drop from March’s $18.8 million.
The single riverboat in the Morgan City area took in $4.4 million last month, down from $4.6 million in March. The Evangeline Downs track casino at Opelousas won $8.6 million in April, a dip from $8.7 million in March.
The two states’ figures do not include Indian reservation casinos, which are not required to publicly report winnings.
The slowdown in both states is cutting casino employment and delaying new casino projects.
According to the American Gaming Association, casino jobs fell 6 percent – or 1,830 – year in Mississippi to 28,740, while employment in Louisiana dropped 4.1 percent – or 740 jobs – to 17,268.
In Biloxi, Harrah’s Entertainment Inc. has put the $700 million Margaritaville Casino & Resort project on hold. In Louisiana, Pinnacle Entertainment Inc. has received five-month delays in its plans for two riverboat casino projects totaling $600 million for Lake Charles and Baton Rouge. In addition to a slowdown in play, casino companies find construction financing virtually impossible to get because of the national credit meltdown.
Friday, August 14, 2009
Last Supper for James Cofer EdD this Saturday
When the parents of the meager number of 2009 Summer graduates of ULM enter Fant-Ewing Coliseum, they will greeted by an extra chair on the head stage for Her Highness the Commissioner of Higher Education, Sally Clausen EdD ($377,000 salary). Seems she called at the last second demanding a place.
The last time Sally came for a tête-à-tête with a president at ULM it was Lawson Swearingen, Jr. JD. During their private din-din in the Tower of Power, she lowered the sword of Damocles on Swearingen. He was gone in a few months after, although half of his salary was still paid from the ULM operating budget until last year.
This time Sally is coming to sup with James Cofer Ed.D ($252,886 salary on the table), and the odds are very good that they won’t be talking about the mostly women faculty and staff assassinated this summer by him and his Gang of Four; nor will they be discussing the myriad of successful academic programs he and the Gang of Four have killed; nor will they be talking about the miserable failure of his athletic programs.
No one in the legislature or the boards of higher education and control really cares a wit about faculty, staff, academic programs, or students for that matter. Sally and Jim will be talking about the $80,000,000 in debt that Cofer has saddled the state with for the construction of “dormitories.”
You see up to now Cofer has only been paying a smidgen of the interest on this money from the ULM budget. This school year he has to start paying all the interest and when the final domino falls in a couple of years he will have to pay the principal too. For a school with enrollment levels being maintained by concurrently enrolled high school students who do not occupy dormitories, where is the money going to come from?
So Saturday Jimmy will be served his last supper a la Swearingen by Sally and Airmark Inc. Sayonara Jimmy Boy.
The last time Sally came for a tête-à-tête with a president at ULM it was Lawson Swearingen, Jr. JD. During their private din-din in the Tower of Power, she lowered the sword of Damocles on Swearingen. He was gone in a few months after, although half of his salary was still paid from the ULM operating budget until last year.
This time Sally is coming to sup with James Cofer Ed.D ($252,886 salary on the table), and the odds are very good that they won’t be talking about the mostly women faculty and staff assassinated this summer by him and his Gang of Four; nor will they be discussing the myriad of successful academic programs he and the Gang of Four have killed; nor will they be talking about the miserable failure of his athletic programs.
No one in the legislature or the boards of higher education and control really cares a wit about faculty, staff, academic programs, or students for that matter. Sally and Jim will be talking about the $80,000,000 in debt that Cofer has saddled the state with for the construction of “dormitories.”
You see up to now Cofer has only been paying a smidgen of the interest on this money from the ULM budget. This school year he has to start paying all the interest and when the final domino falls in a couple of years he will have to pay the principal too. For a school with enrollment levels being maintained by concurrently enrolled high school students who do not occupy dormitories, where is the money going to come from?
So Saturday Jimmy will be served his last supper a la Swearingen by Sally and Airmark Inc. Sayonara Jimmy Boy.
Sunday, June 28, 2009
Gambling Bills in the 2009 Louisiana Legislature
Monroe, LA: There were 13 gambling bills submitted to the 2009 Louisiana Legislative Session: SB 192, SCSR1, HB123, HB124, HB361, HB844, SB192, HB596, HB635, HB714, HB844, HB886, and SB188 excluding HB1, HB2 and HB881 that referenced gambling. The greatest number submitted involved riverboats (6), next was video poker (4), and last was video bingo (3).
SB188 by Alario expands the use of revenues produced from the gaming fee collected by Jefferson Parish from riverboat gaming (gov.sig) and included a special one-time expenditure not to exceed one million dollars to provide for construction, repairs, or rehabilitation of storm-damaged properties for the towns for Grand Isle and Lafitte was signed by the governor. HB361 by Templet amends provisions of the law regarding designated representatives (requires a video poker licensee to obtain conviction records of a job applicant to determine if the applicant meets the suitability requirements provided for in Subsection A, whatever) was signed by the governor. HB124 by Wooten for truck stop video poker was sent to the governor.
HB714 by Norton, HB596 by Williams, HB635 by Kleckley, HB886 by Williams, SB192 by Long and HB 844 by G. Smith failed to get out of committee or were voted down in the House. SCSR1 by Long is interesting because it authorizes a study of the impact of video bingo in Louisiana and the effect on the charitable organizations that receive a portion of the proceeds. Apparently this was a dump of SB192 which would have prohibited video bingo in parishes that outlawed video poker.
SB188 by Alario expands the use of revenues produced from the gaming fee collected by Jefferson Parish from riverboat gaming (gov.sig) and included a special one-time expenditure not to exceed one million dollars to provide for construction, repairs, or rehabilitation of storm-damaged properties for the towns for Grand Isle and Lafitte was signed by the governor. HB361 by Templet amends provisions of the law regarding designated representatives (requires a video poker licensee to obtain conviction records of a job applicant to determine if the applicant meets the suitability requirements provided for in Subsection A, whatever) was signed by the governor. HB124 by Wooten for truck stop video poker was sent to the governor.
HB714 by Norton, HB596 by Williams, HB635 by Kleckley, HB886 by Williams, SB192 by Long and HB 844 by G. Smith failed to get out of committee or were voted down in the House. SCSR1 by Long is interesting because it authorizes a study of the impact of video bingo in Louisiana and the effect on the charitable organizations that receive a portion of the proceeds. Apparently this was a dump of SB192 which would have prohibited video bingo in parishes that outlawed video poker.
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