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Americans Providing $154 Million for College Football in Seattle – Bloomberg

English: Husky Stadium viewed from an aircraft...With its 92-year-old football stadium starting to crumble, the University of Washington began contemplating a renovation half a dozen years ago. One financing idea — getting $150 million from Seattle-area taxpayers — ran afoul of state Representative Ross Hunter. The state was reducing college funding, and tuition was surging.

“We were cutting billions of dollars out of our budget, and we are going to build a stadium. Really?” says Hunter, 51, a Democrat from Medina who is chairman of the House Ways and Means Committee. “I was OK with saying ‘No.’”

That didn’t prevent taxpayers in Seattle and the rest of the U.S. from subsidizing the $250 million project anyway. Tax breaks on municipal bonds issued for the stadium, donations for construction and increased contributions tied to ticket purchases will cost the U.S. Treasury $154 million over 30 years, based on data compiled by Bloomberg. Without the exemptions, Athletic Director Scott Woodward says, he couldn’t have financed the overhaul.

As the school’s football team prepares for a bowl game Dec. 22 in Las Vegas, the field at Husky Stadium is dotted with earth movers and dump trucks. The construction shows how even some of the most soundly run college football programs benefit from indirect tax subsidies totaling hundreds of millions of dollars. In addition to the deductions that helped fund this project, sports departments are exempt from taxes on ticket, television and other income generated by their stadiums.

via Americans Providing $154 Million for College Football in Seattle – Bloomberg.

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Who Were the Super Bowl’s Biggest Winners? – Fox Business Video – Fox Business

MeritMile.com CEO Mark Reino breaks down how companies benefit from a Super Bowl ad and which commercial reigned supreme.

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Strange Random Advertising Quote:

In general, my children refused to eat anything that hadn’t danced on TV. – Erma Bombeck

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Would You Watch the Super Bowl From Your PC? – Fox Business Video – Fox Business

Feb 1, 2012- 4:17 –My Damn Channel CEO Rob Barnett weighs in on the future of online programming and video.

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Strange Random Television Quote:

Television keeps the masses occupied. What if everyone decided they wanted to make something of their lives? Television keeps the competition down and keeps more criminals off the street. What if everyone decided to go to law school or medical school? It would sure make it tough on the rest of us. – Jim Urbanovich

 

 

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The $45,000 Ping-Pong Table (It’s Also Art) | Photos – ABC News

The retailer Neiman Marcus has released the 85th edition of its Christmas Book, featuring several “fantasy gifts” of extraordinary luxury and whimsy. According to the catalog, this table-tennis table “doubles as a contemporary work of art.” It is sculpted by artist Tom Burr from black rubber. For each one sold, $2,500 will go to the mentoring organization Big Brothers Big Sisters. Price: $45,000 Neiman Marcus

via The $45,000 Ping-Pong Table It’s Also Art | Photos – ABC News.

Strange Random Luxury Quote:

“It was luxuries like air conditioning that brought down the Roman Empire. With air conditioning their windows were shut, they couldn’t hear the barbarians coming.” – Garrison Keillor (American writer and broadcaster b.1942)

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Christmas in September? Business news – msnbc.com

Are retailers starting the Christmas shopping season too early this year?

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Strange Random Retailer Quote:

“You have to have some boundaries to what you define yourself as, and ours is ‘Can we sell it to you’?” – Andrew Higginson, (now ex-) TESCO Chief Executive, Retailing Services, on the company’s move into banking

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