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How Government Subsidies Are Hiding the Omni Convention Center Hotel’s Losses

A couple of weeks ago, I took a look at the financials of the Dallas Convention Center, prompted by Philip Jones’ announcement that he planned to borrow a quarter billion dollars in public money to expand the facility. To summarize, I discovered:

  • The city of Dallas is currently subsidizing the facility to the tune of roughly $53 million per annum; and
  • Three years and $500 million later, the construction of the adjacent convention center hotel hasn’t had any discernable impact on the convention center’s bottom line.

Today, I’m taking a look at the financial performance of the convention center hotel itself.

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Last Night, Sir Richard Branson Joined The Love Field Debate, Drank Tequila, and Talked to Us

On Monday night, Sir Richard Branson dropped into town to address the latest front on the airline war, Virgin America vs. EveryoneElseThatWantsThoseGatesAtLoveField. The airline hosted a party at The Rustic in Uptown Three of us—me, Cristina Daglas, and Glenn Hunter—attended. Each of our individual thoughts follow. One common thread between all of our thoughts: tequila. There was a lot of tequila.

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Former Dallas City Councilman Dave Neumann Did Not Get a Parking Ticket Today, and Likely Never Will

In May 2011, Scott Griggs unseated Dave Neumann for the District 3 slot on the Dallas City Council. Today, Dave Neumann left a downtown event, hopped into a car on Lamar Street, pulled a quick U-turn, and headed off.

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State Rep. Jason Villalba, to Lt. Gov. Candidates: ‘Illegals Are People’

“Friends, these ‘illegals’ are people. They are human beings who love their little ones just as much as you and I love our little ones. They want a better life for their families and they want their children to have a better life than they have had.”

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Cash Store Owner Trevor Ahlberg Has Donated Nearly $1 Million to Texas Politicians Since 2009

Irving’s Trevor Ahlberg likes shooting elephants, charging exorbitant fees on payday loans, and donating money to conservative causes. He likes that last one so much that — through his company, Cottonwood Financial — he’s donated close to $1 million to conservative Texas politicians since 2009. Texans For Public Justice released a report earlier this week […]

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Giant Chair Appears in The Colony

Got a Big Ol’ Chair. More details: – It’s at State Highway 121 and Plano Parkway – It’s for Nebraska Furniture Mart’s 560,000-square-foot retail showroom and 1.3 million-square-foot distribution center – Nebraska Furniture Mart will anchor Grandscape, a 3.9 million-square-foot monolith that will probably have the capability to detach from Earth and self-sustain, should the […]

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Everyone Should Just Calm Down About the Olympics Coming to Dallas

Yesterday, the United States Olympic Committee sent letters out to 35 American cities, to gauge their interest in bidding for the 2024 Summer Olympics. Some locals thought the letter said “ZOMG DALLAS HERE’S THE OLYMPICS.” Problem with that: Dallas is not even close to being able to handle the Olympics. There are a lot of metrics […]

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Leading Off (2/18/13)

Is the Dallas Police and Fire Pension System Overinvested in Real Estate? There are so many questions raised by this lengthy report on how the pension fund that owns Museum Tower ended up managing the luxury proprieties it propped-up with large cash infusions after the real estate bubble burst. For example: What are the properties really […]

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Woman Drives the Wrong Way on I35 For 15 Miles

I understand this happens sometimes. You’re unfamiliar with an intersection or set of on-ramps, and you accidentally take off the wrong way. I’ve done it, then corrected myself in a matter of seconds. A woman in Burleson last night went the wrong way for 15 miles. That’s like getting on Central Expressway in downtown Dallas, […]

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