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May 08, 2012

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Donna Sullivan

It is truly petty for Republican Senator Howe bemoaning the fact that the Vikings LLC is legally registered in Delaware. Republican ought to hold that the avoidance of taxes is wisdom and in the best interest of the owners (shareholders) of the corporation.

Sen Howe could help the citizen of MN avoid the indirect tax of paying for the fiscal rat hole by demanding that the stadium be built and paided for by a private for profit corporation. Revenue would be obtained by selling of shares to the willing public. An IPO of 500,000 share at $30 each would raise the capital required. [$30 is about the cost of a beer and hot dogs at a Vikings game.] Those citizens who want the Vikings would buy as many shares as they desired. Hotels and Business who think of benefiting from the Vikings could buy as many as they desire. The shareholder (unlike the public) would be able to see the stadium expenses and revenues. Self-interest would encourage wise use of the stadium in the non-season. Investors would have individual incentives to maximize revenue and to minimized expenses. None of which are extant in the tax funding bill.

A Republican Senator ought to support private investment instead of moaning over the few dollars that a MN charter corporation would provide the state. A Republican would encourage no demand private ownership of the stadium via personal stock ownership.

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