After the deadly plane crash at the Reno Air Races in September 2011, costs for insuring the show skyrocketed. Organizers of the event turned to the state tourism commission for help paying those additional costs, and the state cut a $600,000 check to help out. Now, Aviation Nation, the annual air show held every year at Nellis Air Force Base has been cut due to the federal sequester. Will the state rescue Southern Nevada's annual air show as it did for the Reno show? Las Vegas Sun Business Reporter says it's not likely. Velotta joins us to talk about the races and whether or not the state will step in to save Aviation Nation.
Rick Velotta, Reporter, Las Vegas Sun and Vegas Inc.
Perhaps *every* business or idea for a business - economically viable or not - should get a big check from taxpayers? Really, logic tells us that if these things truly were good ideas, there would be plenty of private money to finance them in the expectation of making a profit commensurate with the risk and investment involved. But they're *not* good ideas, hence no private money. Unfortunately, almost universally that common sense, free-market cue is taken by politicians as an opportunity to jump in and buy votes using taxpayer money instead to subsidize clearly unviable businesses (like alternate energy, high speed rail, stadiums, etc.). So, in the end the connected few end up getting their businesses financed free by taxpayers. That sort of corruption is called crony capitalism, and is no free market all.Tom Hurst –Apr 9, 2013 16:17:06 PM