Farewell. The Flying Pig Has Left The Building.

Steve Hynd, August 16, 2012

After four years on the Typepad site, eight years total blogging, Newshoggers is closing it's doors today. We've been coasting the last year or so, with many of us moving on to bigger projects (Hey, Eric!) or simply running out of blogging enthusiasm, and it's time to give the old flying pig a rest.

We've done okay over those eight years, although never being quite PC enough to gain wider acceptance from the partisan "party right or wrong" crowds. We like to think we moved political conversations a little, on the ever-present wish to rush to war with Iran, on the need for a real Left that isn't licking corporatist Dem boots every cycle, on America's foreign misadventures in Afghanistan and Iraq. We like to think we made a small difference while writing under that flying pig banner. We did pretty good for a bunch with no ties to big-party apparatuses or think tanks.

Those eight years of blogging will still exist. Because we're ending this typepad account, we've been archiving the typepad blog here. And the original blogger archive is still here. There will still be new content from the old 'hoggers crew too. Ron writes for The Moderate Voice, I post at The Agonist and Eric Martin's lucid foreign policy thoughts can be read at Democracy Arsenal.

I'd like to thank all our regular commenters, readers and the other bloggers who regularly linked to our posts over the years to agree or disagree. You all made writing for 'hoggers an amazingly fun and stimulating experience.

Thank you very much.

Note: This is an archive copy of Newshoggers. Most of the pictures are gone but the words are all here. There may be some occasional new content, John may do some posts and Ron will cross post some of his contributions to The Moderate Voice so check back.


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Wednesday, August 12, 2009

Local finance facts

By Dave Anderson:


Just a couple of short notes and half form thoughts on local finance.


The Pittsburgh slots parlor opened this weekend. They are crowing about a $1.3 million dollar net revenue opening eighteen hours. Assuming that is the average cash flow rate, the casino is projected to take in $630 million in the next twelve months. That assumption is wrong on its face as this was cash flow from a "good" day as it was a special event with "stored" crowds ready for the opening of the doors. I have a hard time thinking that anyone is thinking that cash flow will be similiar on Tuesday nights in January. Thankfully the casino operators are actually projecting only this is a decline in revenue projections from the initial application, as the CBA assumed $427 million dollars in stabilized year revenue in 2005 dollars, which roughly translates to $470 million in 2009 dollars. Some of this is due to fewer machines being installed. Questions about the size and optimism behind revenue estimates have been floating out there for over a year now. The big take-away is that the 55% state/local tax take will be a bit smaller than everyone has been counting on.


The Carnegie Library of Pittsburgh is in fiscal trouble. The system is projected to run a $3.1 million dollar deficit next year. The Library is heavily funded by the Regional Asset District (RAD), which is an additional 1% sales tax in Allegheny County. The Library's plan to resolve the deficit is to ask for more money from RAD. RAD is currently withholding current year grants. So far RAD sales tax revenue is down 2.7% for the year, and down 6.5% for May, year over year. Due to their reporting system, their reports are a lagging indicator as the data is just beginning to capture the spring cliff-diving. There ain't no money in RAD.


Finally, Open Stage Theatre in Pittsburgh is going dark for at least the first half of next season while their board tries to figure out a viable business plan. Their revenue streams were a combination of earned revenue from ticket sales and donations, some from individuals and some from foundations and other institutional supporters. Those revenue streams have collapsed. There ain't no money there either.


There are no current magical pots of money out there at the local level that will stave off large cuts in services, essential and non-essential but high value add. It is imperative for local budgetary authorities to realize that as the pots of money at the end of the casino rainbow will either be smaller than anticipated or are already pre-committed, and there is no one else left to raid and shift costs off the books.



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