San Francisco hosting the America’s Cup in 2013 was a giant failure.
Repito: La Copa América Fue Un Fracaso Gigante.
San Francisco hosting the Summer Olympics in 2024 (if it happens, which isn’t at all likely), will, similarly, be a giant failure.
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 | firstname.lastname@example.org
So, unlike the disastrous America’s Cup and 8 Washington campaigns, the Golden State Warriors project is based around stuff that San Franciscans can actually benefit from.
So that’s a good sign.
Remember, the more you complain now, the better this deal gets for San Francisco. You the public are the bad cop and genial SFGov figurehead Ed Lee is the good cop. And of course the good cop won’t be able to get the best deal possible for San Francisco without the bad cop.
If Ed Lee doesn’t like this game, then he can just retire, right? Or go back to his old job the way he promised to in the first place, right?
It’s too bad that Oakland will lose its team.
Here’s Larry Ellison do-boy Stephen Barclay from a few days back:
“This sentiment is a far cry from the cynicism several columnists and reporters displayed only a few short weeks ago. Nothing is 100% perfect and everything is open to fair comment. But while the critics were quick to pounce earlier, where are the same columnists and reporters’ opinions now?”
And here’s San Francisco columnist and former #1 America’s Cup cheerleader CW Nevius from earlier on:
This week the team was caught cheating.
It’s been well documented that Oracle, the team that can’t sail straight, has turned the America’s Cup into a poorly attended bluegrass festival. We’ve already talked about how the promise of the Cup, majestic boats racing each other over the green waters of the bay, devolved to a single sailboat, “competing” alone, and then holding a press conference to discuss the “victory.”
We’ve supported the races in the Bay Area. The city of San Francisco has poured money and facilities into the extravaganza, and we were promised a global showcase, an international event.
Instead we got Alex Rodriguez - using illegal substances to gain an unfair advantage.”
“The entire Oracle operation is tightly controlled. The idea that a rogue worker sneaked on the boat and placed the performance-enhancing weights in exactly the right place (and on three different boats) without the higher-ups knowing is ridiculous.”
So Im thinking that CW Nevius is among the group of offending journalists what the Larry Ellison worker was complaining about.
Oh, and when the Oracle Team”USA” people (and also “Son of a Legend” Christopher Caen) talk about how “shocked” they were about Oracle getting punished for cheating, it was kind of obvious what was going to happen, so it wasn’t shocking at all. Also from CW:
“Now surely, the international jury isn’t going to throw the defending champion out of the finals. It is much more likely that it will make Oracle forfeit some races.”
And, as expected by Nevius and all others, that’s what happened.
Ah what else, oh, The Nevius has blocked me from his Twitter I’ve discovered, but, just saying, the dude’s name is spelled Barclay, not “Barkley.”
Maybe that’s another reason why he hates your guts, CW.
Now, on with the show…
No no, that’s not a leaden kingpost King Larry Ellison has in his hand. And it’s not a mixing stick to make lead slurry neither. ‘Cause you see, Larry Ellison isn’t being punished by the International Jury for actually telling a group of people to cheat during the 34th America’s Cup and he isn’t being punished for actually lengthening and weighing down kingposts himself. Actually, part of his punishment is for bad management.
So for Larry to tell people about how his cheating scandal is no big deal, well that’s wrong, in’nt?
So Larry, you seem to care ( a lot!) what people think about you in the 415, so why don’t you pay an event fee for the America’s Cup after the fact?
I mean, you’ve already spent, what. $200,000,000 or so? What’s another 10% more?
Larry, you’re not as good a manager as you think you are. That’s why you’ve spent more money than anybody and yet you’re not succeeding.
Your WIN AT ALL COSTS approach isn’t working Lare-bear.
This bit here has elements that are somewhat old and hackneyed, and yet it’s also brand new and it’s also informative:
[UPDATE: Joe Eskenazi of SF Weekly has the story. Mitchell being on the boat when it's not "competing" in a race is kosher, per Russell Coutts and International Jury member Bryan Willis. A mystery solved.]
Boy, we’re deep into Bill Clinton-land, it-depends-on-what-the-meaning-of-the-word-”is”- is-ville now.
Is this Matthew Mitchell, who was officially “excluded from sailing on a Yacht competing in the Match for the 34th Americas Cup until 4 races have been completed,” sailing on a Yacht competing in the Match for the 34th Americas Cup before 4 races have been completed?
Click to expand