Auto dealer Norman Braman took the stand at 4 p.m. today in the trial re: The Funding for Marlin's Stadium (among other things). According to the South Florida Business Journal:
Braman testified he had seen the Marlins' financial statements in 2004, when he was approached as a possible investor. Miami-Dade Circuit Court Judge Jeri Beth Cohen ruled that Braman could not testify or enter court documents about the financials he had seen at that time, but she allowed him to talk about the investment proposal.
"My answer was I could not make an investment in a company that had $163 million in debt," Braman said.
(Hit read more)
"The $525 million funding plan for the Marlins stadium is part of an about $3 billion plan endorsed by city and county commissioners this year. Referred to as the megaplan, the funding package also includes a tunnel to the Port of Miami and funding for bonds at the Adrienne Arsht Center for the Performing Arts."
2 comments:
Thanks for that link to the South Florida Business Journal's story. I hope they continue the covering the trial in such a fine manner.
Whoa! Just read the Miami Herald version. Night-and-day. Sheesh.
SFBJ: Alvarez:"I never saw the Marlins' financials... there are no guarantees the Marlins will pay for cost over runs... never asked why the Marlins get the naming rights"
Herald: Alvarez: "I decided its the right thing to do to keep the keep the team"
SFBJ: Diaz: "No I haven't seen any studies" (showing a positive economic impact)
Herald: Diaz: No mention
SFBJ: Braman: Quotes a list of reasons why CRA funds should be kept in underdeveloped area
Herald: Braman: describes not what he said but that his appearance was "disjoint" and that his "loses the skirmishes"
On the WLRN/Herald radio news this morning they went on not about the merits of the case or what happened but that the suit is delaying construction and will thus cause the stadium to cost loads more.
When the stadium ends up costs a couple hundred million more (you know it will) the Herald is already planning using Braman as the scapegoat.
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