Sacramento Arena Coming, Well, Sort Of

Actually, not really. Oh, yes, plans were unveiled today at a meeting at the Cal Expo, but that's all, just plans. According to the folks on hand, everything is in place, except:

1. A developer
2. A request for proposal
3. A possible tax "increment"

None of which are available at the moment. "This is not a shovel-in-the-ground project," said John Moag, an NBA consultant.

Now that's an understatement. To quote Moag once again, "This is not a project that's going to begin this year."

The reasoning for that last tidbit is the economy. Which leads this observer to wonder, if this project won't get underway until the economy turns around, and the economy is not expected to turn around for at least another year or two, just how much longer are the Maloofs willing to stick around at Arco?

Also of note, the fact that board members of Cal Expo were kept in the dark about the proposal until the very last minute, which is not altogether unsurprising considering that the NBA had its hand fully around the preparations.

Assemblyman Dave Jones (a board member himself) told KCRA in Sacramento, "I think that in most public bodies I've been a part of, actually all public bodies I've been a part of, board members have an opportunity to see a proposal before the board meeting. So it's a little strange."

Kings fans, we know how you feel. This whole plan sounds suspiciously like the detail-free plan Clay Bennett foisted upon the Washington legislature, then, after watching it fail, pointed to as his excuse for leaving.

For the sake of the good fans of Sacramento, let's hope that's not the case this time.

New Lawsuit for Aubrey McClendon

It's tough to keep up with Aubrey McClendon's legal proceedings and financial undoings, but a new case showed up today, in this case a class action suit from the firm of Izard Nobel LLP directed at whether or not Chesapeake Energy and its directors violated federal securities laws.

Call me crazy, but wouldn't it be interesting to find out how much of that $200 "It's Not a Bailout!" million David Stern has acquired for his teams is going to our friends in Oklahoma City? Of course, we all know how popular the team is there, if by popular, that is, you mean "drawing the same television numbers as MacGyver re-runs."

David Stern: Keeping the Faith

David Stern, Commissioner of the NBA, speaking after it is revealed that the league is borrowing $200 million to help teams meet their operating expenses:

“ This is the opposite of a bailout. This was a show of strength in the credit worthiness of the NBA’s teams. It’s a great sign of confidence in us and that’s wonderful that the market is opening up, so we’ll take it.”


David Stern, as Mayor of New Orleans:

“This is not a disaster. The presence of the Army Corps of Engineers is merely a show of confidence they have in our failing levee system.”

David Stern, as Captain of the Titanic:

“This is not a sinking ship. The water coming on-board this vessel is merely a demonstration of the ocean’s faith in our ability to withstand icebergs.”

David Stern, as Naval Captain at Pearl Harbor:

“This is not a bloodbath. The fact the Japanese are bombing us is only an indication of their belief in our capability of building new ships to replace the ones which are sinking.”

David Stern, as Noah’s neighbor:

“This is not a flood. The fact water is now rising above my head is merely a sign of God’s faith in my ability to breath underwater.”