This Sounds Familiar

What makes it more absurd is the failure of other publicly financed projects of similar magnitude in other major cities. As the Sun cites, similar projects in Myrtle Beach, St. Louis, and Sacramento have been built at tremendous costs to the taxpayers, but without the expected benefits in bookings and revenues the city expended. And on top of those projects, the Rocky Gap resort in Garrett County and our very own Compass Pointe Golf Course are local publicly financed projects that have run in the red since their conception.
- Me, 8/10/2005

With a city-financed Hilton convention hotel coming on line in 2008, officials are more hard-pressed than ever to lure more business to the city.

Yet numbers released today show that the Baltimore Area Convention and Visitors Association has booked nearly two-thirds fewer groups in 2008 than in 2005, grim figures for a business in which groups usually book at least five years in advance.

Similarly, the number of hotel room nights booked for convention center conferences between 2005 and 2008 decreased by more than 70 percent.

The figures, presented to a group of area general managers today, show that 28 groups booked conventions at the center in 2005, compared with just 10 for 2008, and nine for 2009. Another seven groups have committed to come to Baltimore in 2008 but have not yet signed a contract, while five groups are possibilities.
- Baltimore Sun, Today

It did not take a rocket scientist to see this coming. Unfortunately, the guy responsible for this got a promotion, so I'm sure we will continue to see fiscal decisions of such unsound judgment, but now they will be subjected to the entire state...