You talk about two issues. The first one is the i...

2005-12-15T10:53:00.000-06:00

You talk about two issues.

The first one is the idea of New Orleans becoming a Tourist City. New Orleans was already a tourist city. The French Quarter, restaurants, Super Bowls and cruise ships all provided an escape for northerners to visit in the winter months. This was true even without Mardi Gras. The French Quarter has been described as "Disneyland for Adults." I'm not sure this is totally accurate but it has always been known for its bawdy atmosphere, music and food and is a warmer climate which will attract a young couple, retired couple or group of college students during the months of December, January and February.

That said, tourism will continue because the area of the French Quarter is actually the high ground of the city and people, strangely enough, will come to tour the city that was destroyed much like what happens at the World Trade Center memorial area in New York.

New Orleans can and will survive with tourism being its number one draw it just would reduce a little in size. There are many cities across the country that survive like this – Orlando, Las Vegas, Savannah are just few.

The second issue deals with the Harrahs Casino. The Casino "returning" is like a shell game in that we are seeing and being told what they want us to see. But the reality of the situation is that the casino is only helping the casino. The idea of gambling is simply a voluntary tax when it is made legal. When illegal it is a great way to make a lot of money provided you can get the loser to pay. A casino is no different than the lottery system. You pay money for a chance, not a very good chance, but a chance.

It is important to know that no casino ever loses money, even when they go out of business. The odds are completely in favor of the house and never in favor of the patron. Anyone who says different does not understand the concept of gambling and the house. If a casino goes out of business it is because they were being squeezed by someone or something else. This could be a majority owner or a government entity.

That said, the casino is not doing anyone any favors accept the casino. It will generate funds that will be taxed by the state the moment the first coin drops, but the amount of money it generates for itself are enormous. Casinos and gambling are like the cockroach of business, they are the last to die and the quickest to bear fruit during and after a disaster. They thrive on despair and joy equally. Those in despair try their luck to try and better their luck. Those filled with joy try their luck to experience the thrill of chance.

Case and point, the casinos in Baton Rouge saw record increases during the Hurricanes so the casino returning to New Orleans is like declaring signs of life when you see cockroaches in the cubbard.

In the end, businesses will come back to New Orleans but some will never return. You can offer tax breaks all you want but without safe levees it will all be for not. Safe levees will lower financial risk for all businesses. If I think the city is safe, I will invest my money in a business there and if the city is safe I will be able to afford insurance to protect my investment. If not, the leaders, fiscal managers and policy makers nickel and dime the recovery, then businesses will opt for another city or another state which in the end could be better for Louisiana in the long run. More businesses may try Alexandria, Shreveport, Monroe, Lake Charles, Lafayette and Baton Rouge spreading our economy across the state instead of situating it so densely in one area. Diversification can protect against natural disasters.

Just a thought, but maybe the casino move is a str...

2005-12-14T12:53:00.000-06:00

Just a thought, but maybe the casino move is a strategy to lure some more casinos into the city. After all, New Orleans is the only city that could out-Vegas Vegas. Nagin wants more casinos because they're instant income, but the state will have to deal with their deal with Harrah's before they can even try to build more.

I think we need more businesses screaming for tax ...

2005-12-14T11:29:00.000-06:00

I think we need more businesses screaming for tax breaks and levee safety. This will get politicians moving and something to happen.

Also, I agree with your complaints about the casinos. Its just like the Christmas tax break we are getting this weekend. At a time when the state needs money more than ever, you don't cut tax breaks for revenue that will come in whether you give the tax break or not. That is just stupid politics.

Comments on What Does the Government Owe Us?: Businesses are coming back slowly

You talk about two issues. The first one is the i...

Just a thought, but maybe the casino move is a str...

I think we need more businesses screaming for tax ...