Friday, September 02, 2005

Your Tax Dollars At Work


Virginia McCaskey did a great job in firing her son Michael and promoting Ted Phillips to be the president of the Chicago Bears. Just two years after Phillips' negotiations led to the opening of a $450 million taxpayer-financed renovated Soldier Field, Forbes Magazine shows that the value of the franchise has increased to $871 million dollars.

Not bad for the daughter who wouldn't even be involved in ownership had her dad not been given the franchise for free by Colonel Staley and had her brother not died at far too young an age.

All I want to know is, since we paid for the stadium and gave the team the ability to generate their new cash flows, can we (the taxpayers) get a cut of the profits when the McCaskey's finally sell the team?

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