MECA Business News (CLCO/TDAPO)

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Big E
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MECA Business News (CLCO/TDAPO)

Postby Big E » Wed Aug 17, 2005 2:29 pm

http://www.omaha.com/index.php?u_pg=1636&u_sid=1486033" onclick="window.open(this.href);return false;

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Postby Zephyr » Wed Aug 17, 2005 2:43 pm

I didn't know that was possible.

A positive story from OWH about the QCO, I mean.
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Postby lonnie » Wed Aug 17, 2005 6:12 pm

It appears to me that the MECA budget does NOT include the cost of the bonds the Omaha taxpayers are paying.

It is a shame the OWH did not publish the numbers behind the "profit".

Does anyone have access to the MECA numbers?

A greater than $10 million loss is a little different than a $2.6 million "profit"

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Postby Omaha Cowboy » Wed Aug 17, 2005 7:55 pm

Zephyr wrote:I didn't know that was possible.

A positive story from OWH about the QCO, I mean.


:lol: ..

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Postby eomaha » Wed Aug 17, 2005 10:18 pm

Lonnie you spend most of your time here complaining about your property taxes and the potential for additional tax burden down the road. Maybe Omaha and Nebraska isn't the right place for you.

While ideally, we'd see some of these initial optimistic convention projections met and the Qwest Center sustain itself independent of support from the taxpayers... if the original question of a new arena and convention facility stipulated that I pay higher property taxes to fund it, I would have still voted yes.

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Postby Linkin5 » Wed Aug 17, 2005 10:31 pm

^^Second that. :D

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Postby OmahaChef » Wed Aug 17, 2005 10:45 pm

I'll third that. I lived in Omaha at the time of the bond issue and I voted for it. This was a most needed project, and every day I am still amazed at how it totally changed this part of North Downtown. It takes several years for convention centers to come into their own, and over time ours will too.

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Postby nativeomahan » Wed Aug 17, 2005 10:56 pm

If you build it, they will come. And they did, and we did. Omaha is a better town in 100 ways because of the Qwest Center. People in this city actually brag about it to out-of-town visitors. When is the last time rank and file Omahans (not those who regularly post on this site) have bragged about anything here other than the zoo? It is a big morale booster.

As to taxes, taxes are our contribution to a standard of living and a quality of life for our community. If the Qwest Center ends up costing taxpayers some money in the form of taxes, it is returning many times that amount by enriching the city and it's citizens in the arts, sports, and other "quality of life" enhancements that simply did not exist here pre 2003. It was a catalist to Gallup and other riverfront development. The road from the airport into downtown went from being an embarassing eyesore to a string of pearls because of the Qwest. It has been the difference of night from day. We are all now taking our turn in the sun, and it feels darn good!

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Postby Omaha Cowboy » Wed Aug 17, 2005 11:07 pm

I'll 4th it..

And VERY well stated nativeomahan!..

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Postby scraper » Thu Aug 18, 2005 7:45 am

Make that 5. In fact, there is a chance I wouldn't still be in Omaha if changes weren't being made to enhance the quality of life, the first big enhancement being the building of the Qwest. I'm sure other 20-something professionals in my situation feel the same way. The benefits of the Qwest go far beyond dollars.

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Postby lonnie » Thu Aug 18, 2005 8:49 am

jhuston wrote:Lonnie you spend most of your time here complaining about your property taxes and the potential for additional tax burden down the road. Maybe Omaha and Nebraska isn't the right place for you.

Jeff, I also complain about NE state taxes, sales tax, etc :D

My wife and I grew up in Nebraska, and we have family in Nebraska, that is why we are here.

You guys must understand that this TAX problem is going to limit the growth of the Omaha area. The TAX problem must be solved!

Nebraska has always been conerned about the "brain drain" of our young people, the "money drain" of our older retirees is hurting the state as well, and the high taxes is as big as a reason as the weather climate.

The people in western Iowa must love the Qwest center, they don't have to pay one cent in taxes for the building and many live closer to it than I do.

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Postby Zephyr » Thu Aug 18, 2005 10:13 am

Sometimes you get what you pay for.
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Postby FatGuy » Thu Aug 18, 2005 10:31 am

I sixth it. Good for MECA and the City.

I am not sure if anyone saw the interview with Hal on the news last night. The gist of the story was that Hilton Omaha was not doing as well as projected. His solution to increase profits was to add more rooms.

Like the 2000 seat addition to the arena, a bigger hotel will allow the city to bring in more/bigger conventions. Apparently a large number of conventions won't come unless the Hilton is 600 rooms. Makes senses. I think Fahey's one mistake was to chose Hilton over Marriot (although this sentiment is nothing new with this forum).

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Postby loyalomahan » Thu Aug 18, 2005 10:38 am

In Fahey's defense, I saw he was quick to admit his mistake on the news last night, at least in not going with enough rooms from the start, and says they do need to add more rooms. Of course it would have been nice if we could have just started with the Marriot.

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Postby Omaha Cowboy » Thu Aug 18, 2005 10:45 am

I harken back to spring of 2001 when on the old Chamber forum..Many of us were saying and arguing for more rooms than Fahey's proposed Hilton..

Hindsight is always 20/20..We all wanted Marriott from the jump street..I'd be interested in the estimated cost of a 150 room expansion now, attached with the original price tag of the current Hilton (remember the price tag of the proposed 528 room Marriott was $93 million)..

Hmmm..

The Daub vs Fahey rivalry lives on..

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Postby NovakOmaha » Thu Aug 18, 2005 12:14 pm

Lonnie, with regard to the $2.6 million. It's operating profit. Using standard accounting methods, you compute operating profit/loss and then you deduct mortgage payments, depreciation, etc.

I am not well versed with regard to the details, but I believe that MECA only operates the Qwest Center and the Civic. The city of Omaha is responsible for paying off the bonds and promoting the city. Yes, MECA is a quasi public entiity and as such it is required to disclose certain financial data, but it has no taxing authority, similar to the Airport.

What I am saying is that it's important to find out the facts before making statements. The $2.6 million is $4.1 million better than initial projections. That is quite impressive.

By the way, in today's (Thursday) OWH public pulse there is a letter questioning the MECA management, stating that both the Qwest and Hilton are losing money. Another example of the current trend to make up the facts or express opinion as fact.

In any event, my own opinion is that Roger Dixon and his staff are doing a great job and are to be commended.

P.S. The folks in Iowa might not be paying the property taxes but they are paying sales tax, seat tax and parking fees when they attend an event at the Qwest. Hey, they might also even eat at a restaurant in Nebraska before going back to that den of inequity, that gambling pit, that evil sinfull place known as Iowa.

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Postby Big E » Thu Aug 18, 2005 1:06 pm

<<<<
P.S. The folks in Iowa might not be paying the property taxes but they are paying sales tax, seat tax and parking fees when they attend an event at the Qwest. Hey, they might also even eat at a restaurant in Nebraska before going back to that den of inequity, that gambling pit, that evil sinfull place known as Iowa.
>>>>

Assuming they had an option other than walking out the front door into a parking lot, that is.

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Postby Swift » Thu Aug 18, 2005 1:26 pm

They will in three or four years.

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Postby Zephyr » Thu Aug 18, 2005 2:00 pm

^ Exactly. Usually, a city's sales tax revenue base is about 50-50 local-out of town.
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Postby Brad » Wed Aug 22, 2007 9:38 am

Qwest Center Omaha profit declines $300,000 compared to last year

NOT BAD NEWS

http://www.omaha.com/index.php?u_page=2 ... d=10113487

The Qwest Center Omaha, swept up in record setting concert and sports crowds, showed a nearly $3.1 million profit for the fiscal year that ended June 30.

Despite rising attendance and revenues, the operating profit declined by more than $300,000 compared to last year.

The financial results were presented today to the Metropolitan Entertainment and Convention Authority board.

Higher than anticipated spending on utilities and snow removal were blamed for the dip in operating revenues. Another factor was the two-month closing of the arena to allow for the addition of 1,500 seats.

Total MECA revenues for the year topped $4.7 million, when a $1.5 million city subsidy and $172,829 operating profit from the Civic Auditorium are included.

MECA manages both the Qwest Center and Civic Auditorium.
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Postby Big E » Wed Aug 22, 2007 11:40 am

Hey, for those of you that were actually living in Omaha when the Qwest was built/being built, what was at the root of the OWH not wanting to call it the Qwest Center?  Was it just petty ego BS?

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Postby Brad » Wed Aug 22, 2007 11:56 am

Big E wrote:Was it just petty ego BS?


Yes.  What are you getting at?
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Postby UNOstudent » Wed Aug 22, 2007 12:01 pm

I thought it was because the taxpayers of Omaha paid for the majority of the cost of the Qwest Center.

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Postby Brad » Wed Aug 22, 2007 12:08 pm

But we (the tax payers) would pay more if they didn't sell the naming rights.

We are talking about a place that made 4.7 million not the OWH.
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Postby Big E » Wed Aug 22, 2007 1:15 pm

Brad wrote:
Big E wrote:Was it just petty ego BS?


Yes.  What are you getting at?


I wasn't getting at anything.  Just trying to fill in some holes in the back story.  I didn't know if the OWH had some resentment towards the Qwest initially.

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Postby UNOstudent » Wed Aug 22, 2007 1:21 pm


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Postby SurfOmaha » Fri Feb 01, 2008 9:15 pm

I'm all for the Qwest Center, but it makes angry to think that if its not making money we the citizens get stuck footing the bill, while the MECA board makes all the executive dollars!
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Postby Brad » Wed Aug 27, 2008 12:57 pm

MECA reports year-end financial report

http://www.omaha.com/index.php?u_page=2 ... d=10417338

Bruce Springsteen, Michael Phelps and the NCAA men’s basketball tournament helped make this year another financial success for the Qwest Center Omaha.

The convention center and arena and the Omaha Civic Auditorium saw net profits grow to $5.45 million during the year that ended June 30. That’s up $750,000 from last year, according to the year-end financial report that the Metropolitan Entertainment and Convention Authority board heard today. The news is particularly good since MECA's operating profits fell last year by $300,000 over the previous year.

"It really was a good year," MECA President Roger Dixon said.

The year’s net profits include a $1.8 million subsidy from Omaha. This was the last year for the annual subsidy from the city, however. Lea French, MECA’s chief financial officer, said the payments will end because of the facilities’ strong financial performance. MECA agreed in 2006 to end the subsidy.

Attendance was also up last year. Nearly 1.8 million attended events at the convention center, the arena and the Civic Auditorium. The vast majority of them went to the convention center and arena.
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Postby Brad » Mon Oct 27, 2008 3:22 pm

Qwest Center Omaha in Top 10 for national ticket sales

http://www.omaha.com/index.php?u_page=2 ... d=10471013

Kevin Coffey, OWH wrote:Qwest Center Omaha ranks in the top 10 nationally in concert ticket sales, according to a concert industry publication.

The Qwest Center is ninth nationally and 20th in the world through the third quarter of this year, according to the latest ratings from Pollstar.

The last year has included sell-outs at the Qwest for concerts such as the Police, Bruce Springsteen and E Street Band, Tom Petty & the Heartbreakers and others.

"We're heading into winter with great shows including Metallica, AC/DC, the Eagles and Celine Dion," Qwest Center President and CEO Roger Dixon said in a press release. "We anticipate more exciting announcements soon."
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Postby S33 » Tue Oct 28, 2008 11:23 am

SurfOmaha wrote:I'm all for the Qwest Center, but it makes angry to think that if its not making money we the citizens get stuck footing the bill, while the MECA board makes all the executive dollars!


Ummm, yeah... They are paid to show up everyday to make the "executive" decisions. And, if it wasn't profitable, I'm sure the board wouldn't remain the same.

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Postby NovakOmaha » Tue Oct 28, 2008 3:05 pm

S33 wrote:
SurfOmaha wrote:I'm all for the Qwest Center, but it makes angry to think that if its not making money we the citizens get stuck footing the bill, while the MECA board makes all the executive dollars!


Ummm, yeah... They are paid to show up everyday to make the "executive" decisions. And, if it wasn't profitable, I'm sure the board wouldn't remain the same.


I don't mean to be petty, but most of the board members don't get paid a dime.  As for whoever does get paid take a look at the results.  I.E. concert bookings, attendance, ranking, condition of the facility, management of the Civic Auditorium, etc.  I'd say Roger Dixon and his crew are more than earning what they are paid.  

Bear in mind the alternative.  Kansas City has AEG managing the Sprint Center.  I'm not saying that they are doing a bad job, but where is the anchor tenant that was all but promised?  They had a walk through a while ago and showed off the locker rooms and team coaches offices...and they all were unencumbered by uniforms and other personal property.  

I'm sure Diane Marie Hayes is pretty sick of eating all that crow.

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Postby Brad » Tue Oct 28, 2008 3:09 pm

Lets focus on the NEW good news...


Brad wrote:Qwest Center Omaha in Top 10 for national ticket sales

http://www.omaha.com/index.php?u_page=2 ... d=10471013

Kevin Coffey, OWH wrote:Qwest Center Omaha ranks in the top 10 nationally in concert ticket sales, according to a concert industry publication.

The Qwest Center is ninth nationally and 20th in the world through the third quarter of this year, according to the latest ratings from Pollstar.

The last year has included sell-outs at the Qwest for concerts such as the Police, Bruce Springsteen and E Street Band, Tom Petty & the Heartbreakers and others.

"We're heading into winter with great shows including Metallica, AC/DC, the Eagles and Celine Dion," Qwest Center President and CEO Roger Dixon said in a press release. "We anticipate more exciting announcements soon."
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Postby almighty_tuna » Wed Sep 23, 2009 10:07 am

Greg S wrote:KC's Sprint Center is exceeding expectations and the funding used to pay for it is too (car and hotel taxes).

http://www.kansascity.com/703/story/1463320.html


Well it's certainly putting the hurt on QCO, that's for sure.

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Postby Bosco55David » Wed Sep 23, 2009 11:38 pm

almighty_tuna wrote:Well it's certainly putting the hurt on QCO, that's for sure.


How so?

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Postby almighty_tuna » Thu Sep 24, 2009 10:01 am

Bosco55David wrote:
almighty_tuna wrote:Well it's certainly putting the hurt on QCO, that's for sure.


How so?


...so I've been told...

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Brad
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Postby Brad » Thu Sep 24, 2009 10:06 am

I heard the economy is putting the hurt on the Qwest Center.

I heard there are not many groups touring right now because no one is buying tickets...
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Postby almighty_tuna » Thu Sep 24, 2009 10:07 am

Brad wrote:I heard the economy is putting the hurt on the Qwest Center.

I heard there are not many groups touring right now because no one is buying tickets...


both.  Miley is my last show for a while.

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Postby Brad » Thu Sep 24, 2009 10:15 am

almighty_tuna wrote:both.  Miley is my last show for a while.


if you look at the arena calender at http://www.qwestcenteromaha.com or search qwest center on pollstar, their schedule is EMPTY!

Good thing for Creighton BB and UNO Hockey!
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Postby StreetsOfOmaha » Thu Sep 24, 2009 11:36 am

Well what about the Sprint Center? Since that's the namesake of this thread.

MODERATOR EDIT: Moved Qwest Center Posts form Sprint Center Thread.
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Postby Brad » Tue Oct 27, 2009 3:43 pm

Economy nicks Qwest attendance

http://www.omaha.com/article/20091027/NEWS01/910279977

Robynn Tysver
WORLD-HERALD STAFF WRITER wrote:
Qwest Center Omaha did not escape a bumpy economy, as overall attendance at the city's flagship entertainment center dipped for the first time since it opened six years ago.

About 48,000 fewer people attended events at the center for the fiscal year that ended June 30, according to the annual financial report delivered today to the Metropolitan Entertainment and Convention Authority board.

The board oversees both the Qwest Center and the Omaha Civic Auditorium, which play hosts to the city's larger corporate and entertainment events, including brand-name performers and large-scale conventions.


Robynn Tysver
WORLD-HERALD STAFF WRITER wrote:
Despite the drop in attendance, the center and the civic auditorium managed to boast a slight increase in net profit.

The two auditoriums also managed to generate record tax revenues for the City of Omaha, including $2.4 millin in city sales tax and about $3 million in turnback sales tax from the state.

And, overall, net revenue for the two facilities increased by about $70,000.


Robynn Tysver
WORLD-HERALD STAFF WRITER wrote:
Last year, 31 concerts were held at the Qwest Center, including top-brand acts such as Celine Dion, Fleetwood Mac and the Eagles.

It was the most concerts ever held in the facility, up from 23 the year before.
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