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Seemed Like A Bad Idea At The Time
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Louisville, like other cities, bought into that whole "build a new arena and everyone benefits" claptrap, and now the KFC Yum! Center, built for Louisville Cardinals college basketball, has serious cash flow problems. The City Council president says that there are reserves available to help and that this is typical new business shakiness, but that's bull -- the arena is not succeeding, and the dollars spent there and development of the neighborhood are displaced dollars from other uses in the market, not new money. They never learn. (WDRB-TV/Louisville)
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