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Chicken?
Wednesday, May 24, 2006 - Posted by Rich Miller There’s word that Gov. Blagojevich refused to appear on CNBC to discuss his education plan if a skeptic from A+ Illinois was also on the show. UPDATE: Kip Peterson, a lottery industry consultant, had this to say to Chicago Public Radio’s 848 program earlier today when asked whether the state could get $10 billion for the lottery: “That’s dead in the water. There’s no way… You’re looking at 17 and a half years of revenue… Gaming is not stupid.” The comment comes about 3:40 into the clip, which can be downloaded here (mp3 file - fixed link). Peterson also said the only way to get that $10 billion was to allow the new operators to run Keno games and “let them do virtually everything in gaming other than run a casino.” UPDATE: From ABC7: The potential buyers are few but the potential profits from purchasing the Illinois Lottery are big. ABC7 News has learned that there are only three U.S. companies that could buy the Illinois Lottery — Intralot, G-tech, which already provides the online technology for the Illinois Lottery, or Scientific Games, which has the contract for Illinois’ instant scratch off tickets.
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- Yellow Dog Democrat - Wednesday, May 24, 06 @ 4:59 pm:
I’m sure that’s not true.
The Governor is probably calling Ralph Martire right now to challenge him to a televised debate on the proposal.
- Yellow Dog Democrat - Wednesday, May 24, 06 @ 5:01 pm:
Dear Governor Blagojevich:
In case you lost it, here’s Ralph’s number: 312-332-1049.
YDD
- Anonymous - Wednesday, May 24, 06 @ 5:38 pm:
Have any of you ever seen him when he has to ‘think’ on his feet? If it wasn’t so funny, it would be sad.
- Anon - Wednesday, May 24, 06 @ 5:52 pm:
If he doesn’t know whether he would sell or lease the lottery or even some of the most basic details of the plan… How does he know it will generate $10 billion? What assumptions is that number based on?
- Anonymous - Wednesday, May 24, 06 @ 6:30 pm:
Well, Goldman Sachs gets a lot of money to issue fairness opinions on things like this.
But I’m sure this Peterson and Rich Miller know a lot more than they do.
- Merlin - Wednesday, May 24, 06 @ 6:52 pm:
10 BILLION, RIGHT
- Wumpus - Wednesday, May 24, 06 @ 6:54 pm:
Anon 5:52pm, that number is based on 25,000 signatures that Meeks needed to get on the ballot as a third party candidate for Guv-nah.
- Papa Legba - Wednesday, May 24, 06 @ 7:34 pm:
Gee, I am surprised that the Gov’s numbers have no basis in facts. Hasn’t everything he has proposed such as this *grand plan* gone belly up after the buzz died down and nobody is looking.
- Merlin - Wednesday, May 24, 06 @ 7:45 pm:
Why don’t they tax the poker machines in the bars and restaurants. Some bring in over a thousand per day. The mob splits the money with the business owner. If Blago could take them over and tax them, he could then sell them back to the mob for a few billion. This is brilliant. I should be governor.
- Anon - Wednesday, May 24, 06 @ 8:03 pm:
Rich, you are linked to the wrong audio file. You are linked to page that ends in “d.mp3″ it should be “c.mp3″
- JohnR - Wednesday, May 24, 06 @ 10:35 pm:
Rich -
I am pretty sure that an investment firm will probably bid for it, and then contract out the lottery’s operations. That would make the most sense to me, and it means that there aren’t “three” firms that could buy the lottery, but thousands.
Maybe I am wrong, but it seems more logical my way. You can always go with “ABC 7’s News Team” if you want, though.
- Gregor Samsa - Wednesday, May 24, 06 @ 10:41 pm:
My, my, but the Chicago school of economics has fallen astray… this whole deal stinks on ice.
- Anonymous - Thursday, May 25, 06 @ 7:28 am:
If the Governor won’t discuss his plan on CNBC with an A+ Illinois representative present, maybe CNBC could invite Senator Meeks. He was obviously confortable enough with the plan to drop out of the Governors race. He should be the Governor’s point man on the education plan.
- Cassandra - Thursday, May 25, 06 @ 7:40 am:
Blago won’t appear with critics because he doesn’t understand the various ramifications himself. And he has 0 rhetorical skills. Yup, that’s who we elected.
Goldman Sachs, if they evaluated this proposal, is, remember, just like a real estate broker.
They no doubt want the contract to structure the deal and they are going to find a way to tell the guv’s money people what the guv wants to hear. Even though their assumptions may be fairy tales.
- Baseball fan - Thursday, May 25, 06 @ 7:56 am:
Sad but true,,,,,Blago’s record is even more upsetting than the Cub’s. Get the hook…or as they say on the south side, “He,,,,,,gone!”
- zatoichi - Thursday, May 25, 06 @ 8:51 am:
Martire-Blagojevich debate:
RM: Governor, here is the budget analysis based on Illinois’ Structural Deficit with adjustments for inflation and population growth. Revenue simply does not keep up with expense in any reliable projection. We can raise state income tax to 5% and still be one of the lowest in the country and resolve all these issues. In 4 years the lottery sale money would be gone. With no fiscal change we are heading over a cliff.
RB: Cliff? He’s here? Seriously, I cannot raise the tax 67%, because I gave my word and that is my bond. People need services now. Four years is a long time from now to be making any type of plans. Anything can happen in four years. I intend to keep fighting in Springfield to make our state system more efficient, responsive, and innovative. I intend to start new programs that we save us more money and assist all the people of Illinois.
- Wumpus - Thursday, May 25, 06 @ 9:10 am:
Maybe he should discuss it on the Daily Show.
- PalosParkBob - Thursday, May 25, 06 @ 1:45 pm:
RB: Mr Martire and Ms Batchu, what about taking measures to reduce the rate of increase of expenditures in order to close the “structural deficit”? We could outlaw teacher strikes so that school districts could finally agree to affordable labor contracts while giving staff cost of living raises without deficit spending. We could change the “formula” so that all districts spending less than the foundation level are funded first, instead of giving state dollars to even the most wasteful and overfunded districts. We could end tenure protection so that overpaid staff who are not performing well for the children could be let go “at will” as are most taxpayers, and moderate the growth of higher end salaries. We could end the honerous “early retirement” program and end unconscionble “end of career” raises which divert badly needed funds from the children, without adding any value. That would also minimize pension obligations for the state and local schools and help us from going bankrupt in a few years so that we can pay out six figure per year pensions.
Don’t you think that’s fair and in the best interest of the children and taxpayers?
Martire and Bindu Batchu: Well, ummmmm….we’re only willing to discuss raising taxes. That’s all the public employee unions who pay our salaries and fund our union lobbying organizations, ooops! I mean “non-partisan children advocacy groups” will let us do.
- ModerateRepublican - Thursday, May 25, 06 @ 9:08 pm:
zatoichi - what a hoot. You captured each perfectly. Ralph is on his own but is part of many of the coalitions working toward sustainable revenue sources. Many accross the state believe in Ralph’s work because it’s balanced. No one has come up with a better plan than his - no one.
With all due respect Rev. Meeks you should have stayed in it. This will pass and nothing materialize. And quite frankly I believe that the taxpayers have paid dearly for all of the “assets” of the state. Not having assets and the economic condition we are in there is no leverage that any bonding company would look Illinois as a BBB in any way shape or form.
If you can’t sell bonds because you’re not rated well, you can’t raise money. Ooops we have no assets to fall back on or show on the books. Any municipal leader can give you the 411 on bond sales.
god help us if leadership doesn’t change!!!!!
- PalosParkBob - Friday, May 26, 06 @ 3:07 pm:
ModerateRepublican: If you’ve actually read HB750, which he wrote for the IFT and IEA PURELY in their best interests, how on earth can you possibley claim it’s balanced?
On one hand he proposes a 67% increase in state income taxes and a plethora of new taxes, while doing nothing to restrain salary and benefit growth.
He does nothing to control the working cash bond travesty in Illinois, which allows school districts to raise taxes without refendum by about 20% per year. He does nothing to protect taxpayers with property tax relief. Any tax relief can be rescinded by the state legislature by merely not appropriating money for property tax relief, while the income tax is there forever.
Martire’s plan doesn’t make provision for eliminating the “structural deficit” because, according to Martire, school costs, salaries, and benefit costs should continue to rise at a rate far above revenue growth in income and the other proposed taxes.
Perhaps you’re right about his “balance”. the benefits to the IFT are balanced compared to what will be given to his employers in the IEA and AFCSME, and income taxpayers will get about as much pain as property taxpayers when the “relief” funding for property taxes is stopped by the GA and Guv shortly after they get the huge income tax increase.
That a “moderate Republican” would consider that “balanced” is perhaps why the GOP is dead in Illinois.
- stephenbs - Friday, May 26, 06 @ 6:25 pm:
PPB;
if the story is accurate, couldn’t the Governor have asked your questions in a discussion with Bindu on the show? If the questions are so powerful, why wouldn’t he want a chance to ask them?