Financially, the Rangers deal was basically about real estate. By getting the city to build them a new stadium, Bush and his partners increased the team’s book value from $83 million to $138 million. This required convincing the city’s taxpayers that they would lose the team if they did not pay up for the stadium. To raise the $191 million it would cost to build the Ballpark at Arlington, residents were asked to add a half cent to what was already one of the nation’s highest sales tax rates. According to attorney Glenn Sodd, W.’s group helped egg along Arlington by leaking a story that Dallas was competing for the team and had offered to build them a stadium. “We found out that this was untrue. Sound familiar?.... more>
1 comment:
I do remember that Ranger stadium. As I recall, Bush was about bust at the time and this shady deal put him back on top. He couldn't manage his personal finances...how the hell did people think he could manage the country?
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