N.Y. STORIES: NYC Mayor Rudy Giuliani "will consider
leading a campaign to abolish term limits for City Council
members" if Council Speaker Peter Vallone "drops his drive
for a referendum on a new Yankee Stadium (N.Y. TIMES, 5/24).
Former NY Gov. Mario Cuomo, who is working as an unpaid
advisor to Yankees Owner George Steinbrenner, wrote an op-ed
in the DAILY NEWS under the header "Don't Drive Yanks to New
Jersey." He called on city leaders not to rush a referendum
without the proper study (N.Y. DAILY NEWS, 5/26).
OTHER NOTES: Dover Downs Entertainment, parent of Dover
Downs Speedway and Nashville Speedway USA, is listed among
BUSINESS WEEK's "Hot Growth Companies." Due to its "booming
gaming and motor-sports business at its Dover Downs Complex,
it has racked up average annual revenue and earnings growth
of 99.8% and 70.9%, respectively, over the past three years"
(BUSINESS WEEK, 6/1 issue)...In Chicago, "leading developers
have dismissed" Bears Owner Michael McCaskey's "talk" of a
new stadium and hotel/convention center in Elk Grove Village
outside the city and say "he'll be forced to meet" city
Mayor Richard Daley's "demand for a lease extension" at
Soldier Field (CHICAGO SUN-TIMES, 5/24)....In Miami, Cindy
Krischer Goodman compared the arena deals in Miami and
Broward County and wrote that Wall Street investors "were
wowed by just how strong sales" of the Heat's new arena's
luxury suites have been. The Heat "is well on its way" to
rasing more than $13M a year from luxury seating, "double
the average for a typical single-sports arena." Aaron
Barman, Managing Dir of Prudential Securities, which placed
the $185M in bonds: "We are impressed by the strong levels
of commitments almost two years before the building is open"
(MIAMI HERALD, 5/23). In Ft. Lauderdale, Alan Snel wrote
that the bond placement is "notable' for its 27-year term
and 6.7% annual interest -- the lowest rate on record for
any modern arena (Ft. Lauderdale SUN-SENTINEL, 5/24).