"Whatever Lola wants...Lola GETS," originally sung by Gwen Verdon on Broadway in 1955 from the show, "Damn Yankees!", set against the backdrop of major league baseball, and a struggling team, the Washington Senators.

Well, actually...in that case, Lola didn't get, and neither did the devil.  Both wanted the soul of old Joe Boyd, a 'wanna be' baseball fan, who got to spend a season in the Big Leagues in exchange for his ever-lasting soul.

You are probably aware that our Atlanta Falcons are seeking to build a new nest, as well as to receive all sources of income stream in and around the roost.  Tickets, concessions, parking, merchandising, etc... The state of Georgia, represented by the Georgia World Congress Center Authority (GWCCA), and the Falcons have been haggling for well over a year.

Bowing to growing winds of public opposition, exceeding 70 percent in most polling, Governor Nathan Deal has been quietly urging the Falcons to put another $100-million in their offer towards construction, and another $60-million towards debt service retirement.  This would bring the Falcon's commitment towards their own stadium to nearing $900-million. Though our Georgia Dome was originally constructed in 1992 for $200-million, we still owe $98-million.  The City of Atlanta, via its public/private Invest Atlanta Authority, is expected to take a more active role, as well as put some skin into the game.  Though the GWCCA would still own the stadium, Atlanta is expected to issue bonds for up to $200-million towards public investment in the facility.  This is a better deal for taxpayers, though still a bad one.

I in no way begrudge Arthur Blank his many successes.  I applaud the work that he and Bernie Marcus did in co-founding Home Depot, creating thousands of jobs, thousands of millionaires (who bought their stock early) as well as the millions in charitable and civic donations and contributions which the pair have generously made.

Here is a Better Deal

Instead of tearing down the Georgia Dome, and creating a huge debt load and a big hole in the ground...sell the Georgia Dome to the Falconsfor $200 million (which is what the state spent building the facility in 1992).  Pay off the remaining debt on the facility ($98 million).  This leaves the GWCCA and the state of Georgia with a profit of $102-million.  If the state wants to be viewed as a 'partner'...purchase the preferred site (which the GWCCA still does not own) for a new stadium, and gift that to the Falcons. 

The Falcons could probably acquire Alonzo Herndon Stadium from the Atlanta University Center for $50,000,000 or less.  This would give the Birds an outdoor arena for any number of home games which they choose, and another venue less than a mile from the Dome and its existing parking and related infrastructure.  For another $50-million, the Falcons could add sky boxes and a huge onsite Tailgate Falcons Fan Fest space at the Atlanta University Center.  Total price tag for TWO stadiums, $300-million, plus the Falcons are given a comp site for perhaps building a third venue during better times.

The original Home Depot was put into a building originally constructed as a Treasure Island on Memorial Drive, directly across the street from the current location of the DeKalb County Jail. As the company was formed with limited cash flow, Blank and Marcus admit that they often lined stores shelves with the empty boxes of merchandise already on display, until sales and cash flow caught up, and allowed them to purchase more merchandise, as well as hire more employees.  As they are quite familiar with this operating model, Mr. Blank should certainly understand that now is not the time for the state of Georgia or the City of Atlanta to be cutting blank checks to billionaires, no matter how worthy their sports franchise.

At the end of "Damn Yankees," and that Washington Senators pennant game,young Joe Hardy morphed back into old Joe Boyd mid-game, yet he still pulled out a clutch play and saved the day, while maintaining the good sense to leave the field, save his soul in the process, and return home to his wife Meg.  Let's hope our leaders cut a final deal that makes some similar common $ense, without giving up the farm in the process.  There is still a lot of red-penning to do for our Governor and Atlanta's Mayor before we get there.