MECA Business News (CLCO/TDAPO)
Moderators: Coyote, nebugeater, Brad, Omaha Cowboy, BRoss
MECA Business News (CLCO/TDAPO)
http://www.omaha.com/index.php?u_pg=1636&u_sid=1486033" onclick="window.open(this.href);return false;
-Big E
-Big E
Stable genius.
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"
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"
- Omaha Cowboy
- The Don
- Posts: 1013189
- Joined: Wed Jan 07, 2004 5:31 am
- Location: West Omaha
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.
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.
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.
- nativeomahan
- County Board
- Posts: 5362
- Joined: Fri Nov 12, 2004 2:46 pm
- Location: Omaha and Puerto Vallarta
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!
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!
- Omaha Cowboy
- The Don
- Posts: 1013189
- Joined: Wed Jan 07, 2004 5:31 am
- Location: West Omaha
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.
Jeff, I also complain about NE state taxes, sales tax, etcjhuston 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.
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.
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).
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).
-
- Library Board
- Posts: 429
- Joined: Wed Apr 06, 2005 9:37 am
- Omaha Cowboy
- The Don
- Posts: 1013189
- Joined: Wed Jan 07, 2004 5:31 am
- Location: West Omaha
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..
..Ciao..LiO....Peace
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..
..Ciao..LiO....Peace
Go Cowboys!
-
- Planning Board
- Posts: 2746
- Joined: Wed Sep 08, 2004 3:00 pm
- Location: Metro Detroit Michigan
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.
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.
<<<<
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.
-Big E
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.
-Big E
Stable genius.
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.
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.
Omaha Skyline Photos, Omaha Aerial Photos, and More.
Website: www.bradwilliamsphotography.com
Facebook: www.facebook.com/bradwilliamsphotography
Twitter: www.twitter.com/bradwphoto
Instagram: www.instagram.com/bradwilliamsphotography
YouTube: www.youtube.com/@bradwilliamsphoto
Yes. Â What are you getting at?Big E wrote:Was it just petty ego BS?
Omaha Skyline Photos, Omaha Aerial Photos, and More.
Website: www.bradwilliamsphotography.com
Facebook: www.facebook.com/bradwilliamsphotography
Twitter: www.twitter.com/bradwphoto
Instagram: www.instagram.com/bradwilliamsphotography
YouTube: www.youtube.com/@bradwilliamsphoto
- UNOstudent
- Human Relations
- Posts: 584
- Joined: Sun Nov 07, 2004 10:27 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.
We are talking about a place that made 4.7 million not the OWH.
Omaha Skyline Photos, Omaha Aerial Photos, and More.
Website: www.bradwilliamsphotography.com
Facebook: www.facebook.com/bradwilliamsphotography
Twitter: www.twitter.com/bradwphoto
Instagram: www.instagram.com/bradwilliamsphotography
YouTube: www.youtube.com/@bradwilliamsphoto
- UNOstudent
- Human Relations
- Posts: 584
- Joined: Sun Nov 07, 2004 10:27 pm
MECA reports year-end financial report
http://www.omaha.com/index.php?u_page=2 ... d=10417338
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.
Omaha Skyline Photos, Omaha Aerial Photos, and More.
Website: www.bradwilliamsphotography.com
Facebook: www.facebook.com/bradwilliamsphotography
Twitter: www.twitter.com/bradwphoto
Instagram: www.instagram.com/bradwilliamsphotography
YouTube: www.youtube.com/@bradwilliamsphoto
Qwest Center Omaha in Top 10 for national ticket sales
http://www.omaha.com/index.php?u_page=2 ... d=10471013
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."
Omaha Skyline Photos, Omaha Aerial Photos, and More.
Website: www.bradwilliamsphotography.com
Facebook: www.facebook.com/bradwilliamsphotography
Twitter: www.twitter.com/bradwphoto
Instagram: www.instagram.com/bradwilliamsphotography
YouTube: www.youtube.com/@bradwilliamsphoto
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.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!
-
- Planning Board
- Posts: 2746
- Joined: Wed Sep 08, 2004 3:00 pm
- Location: Metro Detroit Michigan
I don't mean to be petty, but most of the board members don't get paid a dime. Â As for whoever does get paid take a look at the results. Â I.E. concert bookings, attendance, ranking, condition of the facility, management of the Civic Auditorium, etc. Â I'd say Roger Dixon and his crew are more than earning what they are paid. ÂS33 wrote: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.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!
Bear in mind the alternative. Â Kansas City has AEG managing the Sprint Center. Â I'm not saying that they are doing a bad job, but where is the anchor tenant that was all but promised? Â 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. Â
I'm sure Diane Marie Hayes is pretty sick of eating all that crow.
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."
Omaha Skyline Photos, Omaha Aerial Photos, and More.
Website: www.bradwilliamsphotography.com
Facebook: www.facebook.com/bradwilliamsphotography
Twitter: www.twitter.com/bradwphoto
Instagram: www.instagram.com/bradwilliamsphotography
YouTube: www.youtube.com/@bradwilliamsphoto
-
- City Council
- Posts: 105451
- Joined: Tue Apr 13, 2004 1:34 pm
- Location: Somewhere between downtown and Colorado
- Contact:
Well it's certainly putting the hurt on QCO, that's for sure.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
- Bosco55David
- Parks & Recreation
- Posts: 1396
- Joined: Wed Oct 22, 2008 1:25 am
- Location: Tampa, FL (formerly Omaha and Council Bluffs)
-
- City Council
- Posts: 105451
- Joined: Tue Apr 13, 2004 1:34 pm
- Location: Somewhere between downtown and Colorado
- Contact:
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...
I heard there are not many groups touring right now because no one is buying tickets...
Omaha Skyline Photos, Omaha Aerial Photos, and More.
Website: www.bradwilliamsphotography.com
Facebook: www.facebook.com/bradwilliamsphotography
Twitter: www.twitter.com/bradwphoto
Instagram: www.instagram.com/bradwilliamsphotography
YouTube: www.youtube.com/@bradwilliamsphoto
-
- City Council
- Posts: 105451
- Joined: Tue Apr 13, 2004 1:34 pm
- Location: Somewhere between downtown and Colorado
- Contact:
if you look at the arena calender at http://www.qwestcenteromaha.com or search qwest center on pollstar, their schedule is EMPTY!almighty_tuna wrote:both. Miley is my last show for a while.
Good thing for Creighton BB and UNO Hockey!
Omaha Skyline Photos, Omaha Aerial Photos, and More.
Website: www.bradwilliamsphotography.com
Facebook: www.facebook.com/bradwilliamsphotography
Twitter: www.twitter.com/bradwphoto
Instagram: www.instagram.com/bradwilliamsphotography
YouTube: www.youtube.com/@bradwilliamsphoto
-
- City Council
- Posts: 6865
- Joined: Sun Feb 08, 2004 4:46 pm
Well what about the Sprint Center? Since that's the namesake of this thread.
MODERATOR EDIT: Moved Qwest Center Posts form Sprint Center Thread.
MODERATOR EDIT: Moved Qwest Center Posts form Sprint Center Thread.
"The right to have access to every building in the city by private motorcar in an age when everyone possesses such a vehicle is actually the right to destroy the city."
Lewis Mumford, The Highway and the City, 1963
Lewis Mumford, The Highway and the City, 1963
Economy nicks Qwest attendance
http://www.omaha.com/article/20091027/NEWS01/910279977
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.
Omaha Skyline Photos, Omaha Aerial Photos, and More.
Website: www.bradwilliamsphotography.com
Facebook: www.facebook.com/bradwilliamsphotography
Twitter: www.twitter.com/bradwphoto
Instagram: www.instagram.com/bradwilliamsphotography
YouTube: www.youtube.com/@bradwilliamsphoto