[Steve Cassani]

I agree, but generally. Even if the reports of economic growth encouraged optimism among investors I would oppose public funding of sporting events. Our economies (city, state) have matured well beyond any rationale for spending public dollars where private investors will not go. Several years ago the citizens of Seattle wisely turned down an offer by the owner of the Seattle Sonics. He and several leading members of the business community advocated public funding of a new arena. If their claims of economic stimulus were to be believed, there was sufficient cash flow to local business to assure a return on their dollars. The fact the business owners wished not to make the investment was to my eye a good reason to deny them access to public funds.

Texas has had good results, advancing local investors the dollars the state would collect in taxes after the event. This time the leaders of the Austin project failed to secure a committment the F1 race would be held. Susan Combs wisely smelled a red herring and turned the state program on its head-no money until you don't need it, at least none to cover the sanctioning fee. After that, drop by the office and apply, right along with dozens of other proposals on her desk.