Development daydreams dashed | Arkansas Blog

Monday, July 28, 2008

Development daydreams dashed

Posted By on Mon, Jul 28, 2008 at 4:25 PM

The Northwest Arkansas Times laments how it was taken by the soft-soap peddled by the developers who got significant Fayetteville taxpayer help to tear down the old Mountain Inn and in the form of valuable tax cuts in a Tax Increment Finance District created at their behest. End result, an ugly hole in the ground and no promise that construction of a hotel and condos will ever begin.

Thanks for the tip to The Iconoclast, who closes the circle with news of a still-more-bodacios request for a public handout by some of the same Fayetteville developers.

The supposed free market champions from the Chamber of Commerce sneer at peons who toil at newspapers for our poor understanding of business. But it has always seemed simple to me. If you can make a profit without a state welfare payment you have a sound business. If you can't, your business probably will fail. And maybe it should.

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