Wamre is going to write something later about the news today that the city is going to own the convention center hotel. (Quick question — do we all get discounts as stockholders?)
Until then, consider this: The hotel is expected to cost at least $500 million. Forbes says the Rangers are worth $412 million. Which means we should have bought the Rangers instead. As a taxpayer, I’d much rather own a baseball team, and it would be a lot more fun to rip the city for mismanaging the team than it is to criticize Tom Hicks (who, frankly, is an easy target).
And no one can argue that the economic benefits wouldn’t be just as good — if not better — than the convention center hotel? We buy the team, move it to Dallas, and leave Arlington high and dry.
Think I can get Mitch Rasansky to introduce this motion in the council?
