Do sports make people stupid? Sometimes it sure seems so:
The final numbers are in, and show that city and county agencies combined took a $1.3 million loss when Indianapolis hosted the Super Bowl.
That's about $450,000 more than local officials had projected before the February event came to town, but convention officials emphasized Monday the return that investment already has reaped.
For one, the city benefited from an explosion in free national and international media exposure. Also, an indicator measuring organizers' interest in booking conventions in Indianapolis more than doubled in recent months.
Lord, if they're happy they lost $1.3 million, imagine their ecstasy if they'd lost $2 or $3 million. Look, it's finance 101 -- a good investment is when the tangible returns are greater than the capital risked. Citing "increased interest" in bookins and "an explosion of media exposure" is pure flimflammery.
