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Author: TParadiso Two stars, 250 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 532  
Subject: It Was a Resounding Thud Date: 8/20/2004 5:32 PM
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It Was a Resounding Thud

Notwithstanding the lack of bounce Kerry & Company got from their convention, at least the city of Boston didn't lose money. Hey, you take what you can get.

Some predictions had the convention costing the city upwards of $130 million. That didn't happen, mostly because the anticipated productivity losses from the expected massive traffic never occurred.

With the city successfully scaring away locals and tourists alike, instead of gridlock the convention marked the only time in a decade you could get in and out of Boston without sitting in traffic. We should have a convention every week.

In any case, the Beacon Hill Institute estimated the convention had a net $14.8 million positive impact on the city. Not quite the $154 million proclaimed by Mayor Thomas Menino. As you would expect, that didn't deter him from declaring victory.

"In every report they put out they said we were going to lose money to this convention and now all of a sudden it's $15, $15 to $25 million that we're going to have an increase in," said Menino.

Boy, that's some good English ain't it?

Menino went on to say, "The Beacon Hill Institute doesn't know how to take their analysis and say, 'We made a mistake.' "

Talk about the pot calling the kettle black.

FYI: The overall Boston economy totals about $270 billion a year. The $14.8 million the convention is estimated to have made equals a whopping 0.000055% of its economy. What a windfall for Tommy Boy. I think he's ready to run for Governor.
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