With the rodeo and related activities cramped for space and Reliant Park desperately in need of more convenient parking, why do our local leaders persist in chasing rainbows over an obsolescent stadium that is expensive to mothball and has no alternative use absent a massive and risky governmental subsidy?
Meanwhile, with our local governments already locked into tens of millions of dollars of subsidies in regard to a proposed stadium for Houston’s minor league soccer club, perhaps a few of our local leaders should review this AZCentral.com article about the bath that Glendale, Arizona is taking in regard to bailing out the Phoenix Coyotes National Hockey League team, which is the primary tenant of the Glendale’s local arena. The Coyotes have lost over $200 million since moving to Glendale five years ago.
Thus, on one hand, Houston governmental leaders waste millions annually while they dither over what should be an easy decision regarding valuable government-owned property. On the other hand, local leaders have committed tens of millions of dollars in subsidies to a venture that is far more speculative than even a National Hockey League team.
In short, our leaders are fiddling while Rome burns. And, as Leo Strauss once observed, what makes matters worse is that those leaders not only fail to realize that they are fiddling, they don’t even appear to understand that Rome is burning.