Monday, November 15, 2010

"Expectations were never rational"

Worth more parsing than I have time for, but the Cincinnati Enquirer has a look at our Rivers Casino: Pittsburgh Casino: Impact Takes Time

The money quote: "Expectations were never rational".

I just wonder about the use of the past tense in statements like that.


Anonymous Anonymous said...

This is a typo right?

In its first 12 months of operation, the casino generated just $228 in revenue - compared to state projections of $362 million and company forecasts of $428 million.

It should be 228 million I think. They didn't do quite so bad as have the revenue of a lemonade stand

Monday, November 15, 2010 9:44:00 AM  
Anonymous Anonymous said...

Forget that, and the "Expectations were never rational" part.

The more interesting thing is that the article implies that Barden and the state projected revenues including table games right from the get-go, despite no table games were approved in the original law. Huh? Underwiting never noticed this? Oh wait, there's a national freeze on foreclosures because some robot apparently dumber than Rosie the Robot Maid on the Jetsons was doing the underwriting . . .

Monday, November 15, 2010 5:14:00 PM  
Blogger C. Briem said...

Anticipating table games would be called 'rational expections' and Lucas won a nobel prize in economics for it.

Monday, November 15, 2010 5:30:00 PM  
Anonymous MH said...

I don't know anybody who didn't expect table games. It was pretty clear that the slots-only casino was just a foot in the door.

Monday, November 15, 2010 9:17:00 PM  

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