No. of Recommendations: 2
com'on Ddave,

this aint so econ related.....the subject line and content is not with the program.....

Er... in the little burg I live in a national level bowling tournament is touted as bringing in a million dollars in "outside" money for hotels, food, rental cars, hookers etc.

If bowling for dollars can bring in that much in flyover country, how much did Chicagoland lose when the G-8 summit was moved?

As a businessman (albeit retired) I can see two levels of losses here:
1. Loss of dollars actually spent to prepare Chicago for the event.
2. Anticipated losses i.e. all the money they didn't make but probably spent or got loans against anyway.

If you've ever participated in the planning for even a little event you know hotels, convention centers etc. require (often) non-refundable down payments to reserve space. This is because they'll be turning down business from others who what to use their facilities during the time you've reserved them.

Even if they keep ALL of the deposits hotels etc, will loose money with this late date cancellation because it's unlikely they'll be able to rent out the space to any other group on such short notice.

I through Tim's idea in because it has so much common sense unless you like riots.
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