Posts Tagged ‘BACEI’

The “Bay Area Council Economic Institute” Denies Failure re: the America’s Cup – The BACEI Shouldn’t be Trusted

Tuesday, December 10th, 2013

A few notes here. The “thrilling comeback by Oracle Team USA” was tainted by the cheating scandals involving …Oracle Team USA, wasn’t it? The so-called “economic impact” is about 96% lower than the highest number initially given by … the BACEI. The 3,800 “jobs” referred to are in fact … merely job-years, so, in fact, all the “jobs” “created” are now gone and some of the “jobs” “created” paid less than minimum wage, and some of the workers still haven’t been paid as agreed, and lots of workers came up from SoCal since billionaire Larry Ellison was too cheap to pay Bay Area workers. The America’s Cup “captivated a worldwide audience?” No it did not. And of course the America’s Cup “produced tax revenue” but it also stole tax revenue from San Francisco and net result is a loss to the tune of millions of dollars.

I’ll note that there’s no apology for what everybody now knows was a flawed study from the BACEI in 2010. It’s all spin.

The 2010 report was a big pile of garbage. This after-the-fact press release is a smaller pile, but it’s still garbage.

OTOH, if you want to promote some event in the bay area and you need some wildly optimistic numbers in a report, the BACEI is the corrupt think tank for you.

All the deets:

HOSTING 34TH AMERICA’S CUP GENERATES $550 MILLION IN ECONOMIC ACTIVITY, CREATES MORE THAN 3,800 JOBS

SAN FRANCISCO, CA – The thrilling comeback by Oracle Team USA in the 34th America’s Cup capped an historic event that generated $550 million in economic activity, created more than 3,800 jobs and contributed almost $6.6 million in tax revenue to the City of San Francisco, according to the Bay Area Council Economic Institute.

These figures include a new cruise terminal whose construction was accelerated by the America’s Cup races in San Francisco. In the absence of a new cruise terminal, conservative estimates show that the America’s Cup generated $364 million in economic activity, created almost 2,900 jobs and contributed almost $5.7 million in tax revenue to San Francisco.

The figures also do not include economic activity created throughout the region, local and Bay Area visitor spending, or the benefits associated with gripping media coverage of the high-tech competition that captivated a worldwide audience and showcased the Bay Area as an international tourist destination.

“The $550 million in economic activity generated by the America’s Cup is substantial,” said Sean Randolph, President of the Bay Area Council Economic Institute. “The activity benefitted hundreds of small businesses and other employers in San Francisco and the Bay Area and produced tax revenue that supports a wide range of important city services.”

The economic benefits came from almost $280 million in overall spending by the various teams that competed, the hundreds of thousands of visitors that flocked to the waterfront to watch the most innovative and technologically advanced sailboats in the world and the many events that accompanied the races.

“Hosting the 34th America’s Cup in San Francisco showcased our beautiful City to the world and brought thousands of new jobs, long-overdue legacy waterfront improvements, international visitor spending, and a boost to our regional economy,” said San Francisco Mayor Ed Lee. “Our investment brought in significant revenue to the City and the lessons we learned will help us deliver even better world-class events in the Bay Area in the future.”

The bulk of the tax revenue — almost $3.7 million — came from hotel stays, while payroll-related taxes produced $2 million and tax revenue from parking and retail spending combined reached $2.1 million.

The largest segment of economic benefits — $126.7 million — stemmed from spectators who traveled to San Francisco to watch the competition’s sleek catamarans zip across the bay at speeds approaching 55 miles per hour.

A full Economic Impact Report will be issued before the end of the year.

# # #

About the Bay Area Council Economic Institute
The Bay Area Council Economic Institute is a partnership of business with labor, government, higher education and community leaders that works to support the economic vitality and competitiveness of California and the Bay Area. It produces authoritative analyses on key economic issues in the region and the state, and mobilizes leaders from diverse backgrounds around targeted policy initiatives. A sought-after source of economic perspective, its public-private governance and fact-based approach to economic analysis underpin the Institute’s forward-looking thought leadership (www.bayareaeconomy.org).

Rufus Jeffris | Vice President, Communications | BAYAREA COUNCIL
353 Sacramento Street, 10th Floor | San Francisco, CA 94111
O: 415-946-8725 | M: 415-606-2337 | rjeffris@bayareacouncil.org
www.bayareacouncil.org

The 2013 America’s Cup 2013 is a Lie – This Empty “Village” Shows Why Mayor Ed Lee is So Furious

Monday, July 8th, 2013

I understand that Mayor Ed Lee has a cheerleading function as a part of his job. Fine.

But what’s this? What the Hell?

“We expect to have some 500,000 people on a daily basis…” 

Take a look on the YouTube, at around 9:30 and, mind you, this is AFTER everything blew up and people started realizing that the 2013 America’s Cup won’t be anywhere near as popular as advertised:

So, does Ed Lee actually believe that there’s a chance that the America’s Cup will attract anything close to a half million people “on a daily basis?”

No he does not.

So why did he say it?

Mmmm…

Anyway, here’s the so-called village on a day when it was supposed to full of so-called America’s Cup fans:

Word around City Hall is that befuddled Mayor Ed Lee, our very own Mr. Magoo, is a little peeved with Larry Ellison and the AC crew.

(Not that Ed Lee or his longtime minion and spokesmodel Christine Falvey would ever admit to there being the slightest problem with anything Ed Lee has ever done or been told to do by Willie Brown or Gavin Newsom or Rose Pak. To wit, Ed Lee’s failed “stop and frisk” proposals from last year. That one was just another feather in Ed Lee’s cap, per CF)

Oh well.

Now, what the heck is  America’s Cup: Economic Impacts of a Match on San Francisco Bay?Is it the “Independent Study” what everybody cites as proof of how great the AC is going to be?

I think it is!

Let’s take a look at the first line:

“The America’s Cup is the world’s third-largest sporting competition, after the Olympics and soccer’s World Cup.”

Here it is in the flesh:

So, let’s think about this here. I guess the bullshit Bay Area Council Economic Institute (BACEI) organization is allowing that the Summer Olympics and the World Cup just might possibly be bigger than an America’s Cup. But what about the Winter Olympics? Oh, and what about the Super Bowl?

Who actually believes that the America’s Cup, that thing that NBC needs to be paid in order to broadcast, is actually going to be bigger than a Super Bowl?

Nobody.

Not even the cheerleaders.

So why do they say these kinds of things?

All right here’s one more thing from the messed-up study what’s going to cost the taxpayers of San Francisco tens of millions of dollars. It discusses, and I’m srlsy, the “fleet of super yachts” what are going to be attracted to the bay area due to the America’s Cup, and then it talks about how much money we’re going to make by gassing them up and Windexing the shiny parts and stuff like that.

I’m srsly.

These cheerleaders are members of a modern day Cargo Cult and we’re all along for the ride.

Why are we funding Larry Ellison’s ego trip of a boat race?

To review, IRL:

The world’s most popular sport may be soccer, but in cold, hard dollars, nobody throws a party like the National Football League.

• 1. Super Bowl

• 2. Summer Olympics

• 3. FIFA World Cup

• 4. Daytona 500

• 5. Rose Bowl

• 6. NCAA Men’s Final Four

• 7. Winter Olympics Games

• 8. Kentucky Derby

• 9. World Series

• 10. NBA Finals”

The America’s Cup, you will note, is not on this list.

Oh well.

The Simpsons had a Monorail, We have the America’s Cup: “Benefits” Slashed 90% from $10 Billion

Tuesday, March 12th, 2013

Oh, no no no no no. The original estimate of the “economic benefits” (whatever the Hell that amorphous amorphism means) of the 34th America’s Cup was $9.9 B-as-in-boy billion.

Check it:

So that means that the supposed “benefits” of AC34 have dropped more than 90% as the costs continue to rise.

This mounting scandal is the talk of the town - it’ll be on Forum at 9:00 AM:

“America’s Cup organizers are falling short in their efforts to raise private donations to help pay for the cost of bringing the America’s Cup sailing competition to San Francisco — and that could leave the city on the hook for about $20 million. The Board of Supervisors holds hearings Wednesday to discuss the shortfall. Supporters say even without all of the promised private funds, the city still benefits financially from hosting the America’s Cup.

Host: Michael Krasny 

Guests:

  • Jane Sullivan, city spokesperson for the America’s Cup
  • John Avalos, San Francisco supervisor representing District 11″

In closing, fuck you, you deadbeat Larry Ellison.

And here’s the news from last year:

I understand that Mayor Ed Lee has a cheerleading function as a part of his job. Fine.

But what’s this? What the Hell?

“We expect to have some 500,000 people on a daily basis…” 

Just take a look on the YouTube, at around 9:30 and, mind you, this is AFTER everything blew up and people started realizing that the 2013 America’s Cup won’t be anywhere near as popular as advertised:

So, does Ed Lee actually believe that there’s a chance that the America’s Cup will attract anything close to a half million people “on a daily basis?”

No he does not.

So why does he say it?

Mmmm…

Now, speaking of cheerleading, @olivaglobal is the dude who was hired by the San Francisco Chronicle to promote the America’s Cup over the next 1.5 years. Here he goes:

That est was only for final match wknd. Rainy Tues est is 10K-20K LOL. Srsly look at plan.” 

So what’s the estimate, for real, for the crowd size on a off day during the AC? Appears as if these two AC34 cheerleaders are out of sync.

Now, speaking of studies, what the Hell is The America’s Cup: Economic Impacts of a Match on San Francisco Bay?Is it the “Independent Study” what everybody cites as proof of how great the AC is going to be?

I think it is!

Let’s take a look at the first line:

“The America’s Cup is the world’s third-largest sporting competition, after the Olympics and soccer’s World Cup.”

Here it is in the flesh:

So, let’s think about this here. I guess the bullshit Bay Area Council Economic Institute (BACEI) organization is allowing that the Summer Olympics and the World Cup just might possibly be bigger than an America’s Cup. But what about the Winter Olympics? Oh, and what about the Super Bowl?

Who actually believes that the America’s Cup, that thing where half the staff just got laid off and NBC needs to be paid in order to broadcast, is actually going to be bigger than a Super Bowl?

Nobody.

Not even the cheerleaders.

So why do they say these kinds of things?

All right here’s one more from the messed-up study what’s going to cost the taxpayers of San Francisco tens of millions of dollars. It discusses, and I’m srlsy, the “fleet of super yachts” what are going to be attracted to the bay area due to the America’s Cup, and then it talks about how much money we’re going to make by gassing them up and Windexing the shiny parts and stuff like that.

I’m srsly.

These cheerleaders are members of a modern day Cargo Cult and we’re all along for the ride.

And oh, we’re going to get the Golden State Warriors without funding the stadium at Piers 30-32? All right, so why then are we funding Larry Ellison’s ego trip of a boat race? Why are we allowing Him to get away with this?

I know not.

Screw the America’s Cup.

The world’s most popular sport may be soccer, but in cold, hard dollars, nobody throws a party like the National Football League.

• 1. Super Bowl

• 2. Summer Olympics

• 3. FIFA World Cup

• 4. Daytona 500

• 5. Rose Bowl

• 6. NCAA Men’s Final Four

• 7. Winter Olympics Games

• 8. Kentucky Derby

• 9. World Series

• 10. NBA Finals”

Is the America’s Cup Actually “the World’s Third-Largest Sporting Competition?” No – Why Does Mayor Ed Lee Lie to Us?

Wednesday, May 23rd, 2012

I understand that Mayor Ed Lee has a cheerleading function as a part of his job. Fine.

But what’s this? What the Hell?

“We expect to have some 500,000 people on a daily basis…” 

Take a look on the YouTube, at around 9:30 and, mind you, this is AFTER everything blew up and people started realizing that the 2013 America’s Cup won’t be anywhere near as popular as advertised:

So, does Ed Lee actually believe that there’s a chance that the America’s Cup will attract anything close to a half million people “on a daily basis?”

No he does not.

So why does he say it?

Mmmm…

Now, speaking of cheerleading, @olivaglobal is the dude who was hired by the San Francisco Chronicle to promote the America’s Cup over the next 1.5 years. Here he goes:

That est was only for final match wknd. Rainy Tues est is 10K-20K LOL. Srsly look at plan.” 

So what’s the estimate, for real, for the crowd size on a off day during the AC? Appears as if these two AC34 cheerleaders are out of sync.

Now, speaking of studies, what the Hell is The America’s Cup: Economic Impacts of a Match on San Francisco Bay?Is it the “Independent Study” what everybody cites as proof of how great the AC is going to be?

I think it is!

Let’s take a look at the first line:

“The America’s Cup is the world’s third-largest sporting competition, after the Olympics and soccer’s World Cup.”

Here it is in the flesh:

So, let’s think about this here. I guess the bullshit Bay Area Council Economic Institute (BACEI) organization is allowing that the Summer Olympics and the World Cup just might possibly be bigger than an America’s Cup. But what about the Winter Olympics? Oh, and what about the Super Bowl?

Who actually believes that the America’s Cup, that thing where half the staff just got laid off and NBC needs to be paid in order to broadcast, is actually going to be bigger than a Super Bowl?

Nobody.

Not even the cheerleaders.

So why do they say these kinds of things?

All right here’s one more from the messed-up study what’s going to cost the taxpayers of San Francisco tens of millions of dollars. It discusses, and I’m srlsy, the “fleet of super yachts” what are going to be attracted to the bay area due to the America’s Cup, and then it talks about how much money we’re going to make by gassing them up and Windexing the shiny parts and stuff like that.

I’m srsly.

These cheerleaders are members of a modern day Cargo Cult and we’re all along for the ride.

And oh, we’re going to get the Golden State Warriors without funding the stadium at Piers 30-32? All right, so why then are we funding Larry Ellison’s ego trip of a boat race? Why are we allowing Him to get away with this?

I know not.

Screw the America’s Cup.

 

The world’s most popular sport may be soccer, but in cold, hard dollars, nobody throws a party like the National Football League.

• 1. Super Bowl

• 2. Summer Olympics

• 3. FIFA World Cup

• 4. Daytona 500

• 5. Rose Bowl

• 6. NCAA Men’s Final Four

• 7. Winter Olympics Games

• 8. Kentucky Derby

• 9. World Series

• 10. NBA Finals”

All the Lies About the Already-Disappointing America’s Cup Boat Race in San Francisco Started with this Study from the BACEI

Friday, March 30th, 2012

All that fuss about the America’s Cup started with a grossly-distorted report from the Bay Area Council Economic Institute. Here’s the start of it:

“Executive Summary: The America’s Cup is the world’s third-largest sporting competition, after the Olympics and soccer’s World Cup.”

UH, WHO MADE THIS UP? WHO BELIEVES THIS? FIRST OF ALL, “THE OLYMPICS” IS ACTUALLY THE SUMMER OLYMPICS AND THE WINTER OLYMPICS, SO THE AMERICA’S CUP WOULD HAVE TO BE NUMBER FOUR AT BEST. SECOND OF ALL, NOBODY REALLY CARES ABOUT THE AMERICA’S CUP.* SO, THE “INDEPENDENT STUDY” FROM THE CHAMBER OF COMMERCE OF WHATEVER THE HELL CHEERLEADING ORGANIZATION STARTS OFF WITH A LIE. PAR FOR THE COURSE.

Securing hosting rights to the Cup is therefore a prestigious and economically significant prize for any community. 

NO, SEE, NO, YOU CAN’T DO THAT, YOU CAN’T START BUILDING YOUR CASE WITHOUT A FOUNDATION, CAN YOU? I SUPPOSE THAT IF ENOUGH PEOPLE BELIEVE THAT THE AMERICA’S CUP IS “PRESTIGIOUS” THEN IT WILL SOMEDAY BECOME SO, BUT WE’RE NOT AT THAT POINT YET. AC IS NO “PRIZE.”

The economic benefits of bringing the America’s Cup to San Francisco would come primarily through expenditures by racing syndicates, and through spending on hotels, restaurants, and retail and other services by both domestic and overseas visitors and Bay Area residents.

ALL RIGHT, THOSE TWO THINGS. BUT WHERE WILL THE DEFICITS COME FROM? WOULD YOU CARE TO DETAIL THOSE?

If the competition were to run for three months, this could lead to an additional 2.6 million spectators.

AND IF YOU START FLAPPING YOUR ARMS HARD ENOUGH, THIS COULD LEAD TO SUSTAINED FLIGHT.

While these impacts would be primarily concentrated in San Francisco, nearby counties such as Alameda, Marin, Napa, Sonoma, and San Mateo would also benefit from increased visitor and maritime activity. This report endeavours to provide estimates of the economic impact of an America’s Cup match on the San Francisco Bay. Other economists have paved the way by providing estimates of the economic impacts of previous America’s Cups, including an analysis of the economic impacts of the 32nd America’s Cup of 2007 in Valencia, Spain. Starting with that study as a rough guide, this analysis makes a number of assumptions: that infrastructure cost and spending will be several billion dollars less; that spectator attendance will be considerably larger; that the media’s presence will be larger; and that the presence of super yachts will likely be smaller.

UH, BUT NOBODY REALLY CARES ABOUT THE AMERICA’S CUP THOUGH, RIGHT? THIS THING IS A CRUSHING DISAPPOINTMENT ALREADY, RIGHT? WEREN’T THERE SUPPOSED TO BE 18 TEAMS? AND THEN THE ORGANIZERS LOWERED THE ENTRY FEE TO A TOKEN AMOUNT BUT THERE’S STILL VERY LITTLE INTEREST?

From this, we estimate that the increase in overall economic activity in San Francisco due to hosting an America’s Cup could be on the order of $1.37 billion.

AND IF YOU START FLAPPING YOUR ARMS HARD ENOUGH, THIS COULD LEAD TO SUSTAINED FLIGHT.

This is three times the estimated impact of hosting the Super Bowl ($300-$500 million).

NOW HOLD ON, PEOPLE ACTUALLY _LIKE_ THE SUPER BOWL, ARE WE CONFLATING THE TWO EVENTS HERE? AND ACTUALLY, NBC _PAYS_ THE NFL FOR THE RIGHTS TO AIR THE SUPERBOWL (SOME YEARS, ANYWAY) BUT THE AMERICA’S CUP PEOPLE ARE _PAYING NBC_ TO AIR THE AMERICA’S CUP, RIGHT? SO ISN’T THE AMERICA’S CUP KIND OF THE OPPOSITE OF THE SUPER BOWL?

The potential increase in employment surrounding the event could be on the order of 8,840 jobs.

AND NEXT MONTH, I’LL INCREASE THE NET WORTH OF ALL MY READERS, ALL 14 OF THEM, BY $8,840, YOU KNOW, I’LL JUST GIVE THEM ALL MONEY, POTENTIALLY.

This increase in output and employment would likely yield a benefit to state and local government coffers of nearly $85 million.

NOOOPE!

Additional taxes alone to the City’s General Fund are expected to net more than $13 million, based on more than $24 million in revenue, and an estimated $11 million in tourism related costs.

NICE USE OF PASSIVE VOICE THERE. EXPECTED BY WHOM?

Looking beyond the Bay Area, California’s economy would see increased economic activity of $1.43 billion. The U.S. economy as a whole would see increased economic activity of $1.85 billion.

AND WHAT ABOUT THE WORLD AS A WHOLE? IT’S A WIN-WIN, RIGHT? EVERYBODY WINS! HURRAY?

This increase would support the creation of 11,978 jobs.

UH, I THINK YOU MEAN GIGS, YOU KNOW, TEMPORARY EMPLOYMENT?

The figures produced here are likely to be compared to previous estimates indicating that hosting the Cup on the Bay would result in economic benefits to the region on the order of $9.9 billion.

UH, DO YOU HAVE A CITE FOR THIS PIE IN THE SKY? DOES SOMEBODY OUT THERE THINK THAT HOSTING LARRY’S LITTLE BOAT RACE IS AS GOOD AS BILL GATES GIVING US $10 BILLION? REALLY?

We have consciously made an effort to be conservative in our analysis and to evaluate economic impacts for which there is a factual basis and which would be unique to the venue of the San Francisco Bay, and by focusing on readily quantifiable benefits as opposed to those that are more speculative.

WOW, CONSCIOUSLY? LET’S HOPE YOU DIDN’T STRAIN YOURSELVES.

WHOEVER WROTE THIS REPORT IS DELUSIONAL.

SIMPLY.

*NOW, WHAT ABOUT EVENTS BIGGER THAN THE POORLY-NAMED AMERICA’S CUP? HEY HOW ABOUT SOMETHING CALLED UEFA? I THINK THAT’S GOING ON RIGHT NOW IN EUROPE. PUT THAT ON YOUR LIST OF SPORTS BIGGER THAN LIL LARRY’S BACKYARD BOAT RACE.

The world’s most popular sport may be soccer, but in cold, hard dollars, nobody throws a party like the National Football League.

• 1. Super Bowl

• 2. Summer Olympics

• 3. FIFA World Cup

• 4. Daytona 500

• 5. Rose Bowl

• 6. NCAA Men’s Final Four

• 7. Winter Olympics Games

• 8. Kentucky Derby

• 9. World Series

• 10. NBA Finals”