Schwarzenegger To Pass Naming Rights Law

Schwarzenegger To Pass Naming Rights Law

Because the budget problems from this year will resurface next year and it didn’t make it onto the ballot as Proposition 1F, Gov. Schwarzenegger says he took a vote and passed a new law that will allow him to sell the naming rights to State property that he doesn’t sell to raise money so that he won’t have to raise taxes so much. He said, “This is a good sign. We are using the word “sell” instead of the word “borrow” which alienates a lot of people. You can get a lot of money for nothing by selling the naming rights, but in some cases you can get a lot more by selling the whole enchilada. And you can get more for the enchilada if it comes with beans and rice, That’s why I’m in addition to naming rights, I’m also selling the Del Mar Fairgrounds as a last minute scare tactic to help Proposition 1A pass.” He stated that he would personally be interested in buying the Fairgrounds as a location for his retirement residence and a place for his legacy, his gubernatorial library of movies. He would keep the grandstand so that he could give grandiose speeches and receive accolades anytime he felt like it and charge admission and parking to boot. Actually the companies that buy the naming rights will have to overcharge their customers in order to pay for the naming rights, but at least it’s not a tax increase. However if they sell a product, the increased prices and hopefully increased sales will give the State even more from the deal in sales tax revenue without increasing the tax. The naming rights to the state Capitol building (if Schwarzenegger doesn’t sell it) and L.A. freeways are expected to go for tremendous amounts of money, not to mention the Golden Gate Bridge (although Schwarzenegger is expected to sell it several times to different unsuspecting buyers). When asked about the higher prices for consumers from this deal the governor said, “This is another part of my attack on special interest groups. Consumers are an extremely large special interest group and have a lot of lobbyists, so they can afford it.”

©2009 Eric Stamets