Is making a profit wrong?

June 12, 2006

Over the weekend, an anti-park reader wrote that he was upset that Quint Studer won't make a committment to sharing with the City of Pensacola any profit that he make from the sale of the Pensacola Pelicans if the City builds the multi-use stadium.

My replay:
What is the crime in Quint some day selling the Pensacola Pelicans for a profit? Did Charlie Fairchild, the Save Our City founder, give the city a share of the profit from sale of his office building on South Palafox – which benefited from all the work the CRA has done downtown? No, of course not. None of us is expected to do so.

Does the federal government expect the scuba businesses whose value have increased due to the sinking of the Oriskany to share any profits from the sale of the business (beyond taxes, of course)? No.

When ECUA moves the Main Street Sewage Treatment Plant, will every home and business owner in the City be expected to give any profit that make from selling their homes or businesses to ECUA? No.

The businesses near the Airport benefit from any improvements to airport. Will they share their profits when they're sold with the City? No.

Such things only happen in socialist or communist countries.

Quint will have $5 million investment in the CMP. In the U.S. capitialistic, free enterprise economy, selling anything for a profit isn't a sin. To expect Quint to hand over to the city any profit from a possible future sale is an unreasonable expectation – one that no other person or business in the City has been required to do.

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4 Responses to “Is making a profit wrong?”

  1. Anonymous Says:

    The oversize pen background is annoying.


  2. Damn, and I worked so hard on it.

  3. Anonymous Says:

    Rick- Yeah man, it’s allright if Mr. Studer uses tens of millions of Pensacola’s hard earned tax dollars to build a field for his failing ball team. Never mind that the park’s Return on Investment will be very questionable.

    What about getting Pensacola’s traffic problems and northern blight allayed first, instead of this object fetishism over the CMP? How is this park going to attract and retain smart, creative people? I doubt the new biochem graduate or IT entrepreneur is going to consider the panhandle because of one small waterfront development in an otherwise blighted region.


  4. A Biochem graduate or IT entrepreneur may very well move here because of the Community Maritime Park. It’s a city’s downtown that’s the magnet for such people – not the number of Super Wal-Marts we have. Suggest you read any of the books by Richard Florida.

    Also, there’s no reason why we can’t address more than problem at a time. The CMP is built with funds earmarked for such projects – CRA funds. Roads are part of the local sales tax option we just passed. The blight – I’m not sure who’s addressing, but let it get started on it.

    The baseball park -that will have many uses- is for all of us – not just Quint Studer.

  5. Anonymous Says:

    Well, considering the San Francisco Bay Area leads the US in startup companies by a wide margin, it might do you some good to read these articles. By the way, the California State Legislature forbids Super Wal-Marts in that state because of their ability to reduce a region to the lowest common denominator. And that doesn’t stop us from being the 5th largest ecomony in the world, independent of the rest of the US.

    Top Startup Centers:
    http://radar.oreilly.com/archives/2006/06/startup_centers.html

    How to Be Silicon Valley:
    http://paulgraham.com/siliconvalley.html

    I’m curious as to your reply. Mr. Florida says this and that, but I think you’re getting ahead of yourself. All of these top startup cities have great infrustructures and offer great, world-class places for smart people to get smarter. Why would a young Bill Gates go see a Pelicans game or substandard University extension when he could be around other brilliant people?

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