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Started By
Message
re: New Orleans council approves payday loan for cash strapped city
Posted on 5/8/26 at 4:13 pm to Chucktown_Badger
Posted on 5/8/26 at 4:13 pm to Chucktown_Badger
boom
1
Posted on 5/9/26 at 7:15 am to tigersmanager
Can we get back to the nudes topic?
Posted on 5/9/26 at 10:08 am to Chucktown_Badger
quote:
So a city selling rights to future revenue for a lump sum now is nothing like a city selling rights to future revenue for a lump sum now...got it.
No.
One is a known negotiated lump sum on a fixed amount with a known loss calculated in. The other is a lump sum in exchange for unrestricted income while also implementing punishments on the city for not performing.
It's about as similar as calling this deal a payday loan. It isnt a loan as much as a lump sum advancement on agreed payout. More akin to taking a lump sum after winning the lottery or JG Wentworth your legal settlement.
This post was edited on 5/9/26 at 10:09 am
Posted on 5/9/26 at 10:12 am to fightin tigers
democrats are so dumb
Posted on 5/9/26 at 10:14 am to TigerTatorTots
So why not demand 136 million instead of 100 million? It’s a bad deal and expecting them to use this money wisely and invest for that return is laughable.
Posted on 5/9/26 at 10:19 am to pbro62
Probably the result of a negotiation. New Orleans needed the money and Caesers knew how far they could push.
Caesers probably got the better financial result but that rate isn't horrible for the city when you factor in they needed a cash safety net.
Maybe a loan from the state would have been better but the political pissing match and dragging feet would likely ensue. Plus the state is broke as well.
Caesers probably got the better financial result but that rate isn't horrible for the city when you factor in they needed a cash safety net.
Maybe a loan from the state would have been better but the political pissing match and dragging feet would likely ensue. Plus the state is broke as well.
Posted on 5/9/26 at 2:49 pm to pbro62
quote:Why would Cesars agree to do any amendment to the terms if they weren't getting something out of it?
So why not demand 136 million instead of 100 million? It’s a bad deal and expecting them to use this money wisely and invest for that return is laughable.
Posted on 5/9/26 at 3:22 pm to TigerTatorTots
I think they are certainly getting something out of it in the form of a major discount. Having said that, paying the 136 up front would still give them all of the leverage with Nola moving forward. Nola settling for too little if indeed they need the upfront nut.
Posted on 5/9/26 at 3:31 pm to fightin tigers
quote:
One is a known negotiated lump sum on a fixed amount with a known loss calculated in. The other is a lump sum in exchange for unrestricted income while also implementing punishments on the city for not performing.
This is correct. Whatever you think of the NOLA deal, it is not even on the same plane as that shitty Chicago deal. Pick a different comp.
Posted on 5/9/26 at 3:48 pm to TheOcean
quote:
You're assuming that New Orleans will use that properly. They will just waste it. It is a terrible idea
This is all that matters. They can just as easily waste $200 mil as $100 mil.
If they are smart with the money, it COULD be ok.
Posted on 5/9/26 at 7:10 pm to pbro62
I don't think you understand leverage and negotiation
Posted on 5/12/26 at 6:29 pm to TigerTatorTots
Ok hotshot
Posted on 5/12/26 at 7:20 pm to Major Dutch Schaefer
(no message)
This post was edited on 5/12/26 at 7:40 pm
Posted on 5/12/26 at 7:52 pm to Tchefuncte Tiger
Factoring a receivable? Don’t businesses do this all the time?
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