Newspaper article Manchester Evening News

No End in Sight to Cash Spent on Stadium ; VIEWPOINTS Write To: Viewpoints, M.E.N, Mitchell Henry House, Hollinwood Avenue, Oldham, OL9 8EF or Email: Viewpoints@men- News.Co.UK

Newspaper article Manchester Evening News

No End in Sight to Cash Spent on Stadium ; VIEWPOINTS Write To: Viewpoints, M.E.N, Mitchell Henry House, Hollinwood Avenue, Oldham, OL9 8EF or Email: Viewpoints@men- News.Co.UK

Article excerpt

IT may look easy and of course, the trappings of owning and running a successful business are all too obvious.

This is particularly so for those who do not fully understand risk/ reward and the hard, unforgiving commercial principles behind a viable enterprise.

As reported in the M.E.N., last week we had yet another sad episode of one of Labour's 'good ideas' impacting on all Salfordians. Yet another loan for the AJ Bell Stadium to what is becoming an expensive joint venture with no end in sight.

Salford council's partner, Peel Holdings is one of the top cash- rich businesses in the UK. For them, finding another Pounds 1m (of the Pounds 2m needed) is business as usual. For Salford council it will mean more borrowing to lend.

At some future date, and I genuinely hope the risk of failure remains minimal, the AJ Bell Stadium may 'break-even' with the rewards of success filling the councils coffers.

If, for whatever reason, the stadium company fails, or Salford council, cannot continue to support the venture, then all Salfordians will be at risk of losing a great deal of money and civic pride.

It may not be the right time to call a halt, but it certainly time for an independent inquiry into the circumstances of the original loan.

Labour are mortgaging our future, spending money they do not have but borrow. Salfordians will have to repay these loans.

Full disclosure is long overdue if public accountability and transparency are to have any real meaning.

Bob Goodall, Worsley Tory was poor choice I READ a recent article in the M.E.N. about the unveiling of a miners' bench.

I thought it was a nice story, then I read that the bench was unveiled by Tory councillor Karen Garrido.

My father died last year caused by injuries and chronic lung disease from working underground in coal mines.

My uncle was killed in a roof fail.

Karen Garrido, a great admirer of Thatcher - who destroyed whole communities by closing our mines - opening a mining memorial is a sick joke.

I helped run a soup kitchen during the miners' strike when real miners stood up to defend jobs and communities against the destruction of the industry. …

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