Florida Marlins Corporate Welfare

http://www.futureofcapitalism.com/2010/08/florida-marlins-corporate-welfare

Norman Braman, who owns auto dealerships in Florida and who unsuccessfully sued to try to prevent public funds from being used to build a baseball stadium for the Florida Marlins without voter approval, has an op-ed piece in the Miami Herald about the finances of the Florida Marlins baseball team.

The team was earning tens of millions of dollars in profits at the same time as it was seeking county and city subsidies "including a $35 million county loan to the privately-owned Marlins." At the same time, the team owner "paid about $22 million for land and a home in Southampton, N.Y."

Mr. Braman calls the government aid to the team "unnecessary corporate welfare." Looks like a reverse Robin-Hood.

Thanks to reader-participant-community member-watchdog-content co-creator J. for sending the tip.

by Norman Braman  |  Aug 29, 2010 at 10:45 pm Related Topics:  Reverse Robin-Hood receive the latest by email: subscribe to the free futureofcapitalism.com mailing list