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Posted at 9:00 am on June 22, 2010, by Sarah Brodsky
Most drive-in movie theaters closed decades ago. This Illinois theater has been around since 1949; it recently was on the brink of shutting down, but the recession drove more families to patronize cheap, old-fashioned entertainment venues and it got a reprieve. Now city taxpayers will help the theater expand. From the Post-Dispatch article:
I love that last provision. The theater has been there since 1949. It’s good at hanging on when everybody else leaves the industry. Is it really doing city residents a favor by promising to stick around a bit longer? Such a promise would make more sense when dealing with a business that could be lured away by other municipalities, but it’s doubtful that will happen in this case. After all, we’re talking about a drive-in theater, not a baseball team. Ever persistent, the theater continues to seek subsidies. It needs to repair its sign, and it’s hoping for an historic preservation grant from the federal government. Filed under: Local Government Comments: 1 Comment
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"[T]he whole of economics can be reduced to a single lesson, and that lesson can be reduced to a single sentence. The art of economics consists in looking not merely at the immediate but at the longer effects of any act or policy; it consists in tracing the consequences of that policy not merely for one group but for all groups."
Apparently, in some circles “too big to fail” is now being replaced with “too old to fail.”
Comment by wirkman — 2010-06-25 @ 12:56 am