i360 buggered

[goldstone]

Obviously it won't be full every flight, they reported 100,000 customers last week, they are estimating 700,000 per year, but the loan repayments can be met with 350,000 customers per year.

Not forgetting they have a fine dining restaurant at beach level which will bring in additional income.

I think it will be fair to see where they are after a year in business. I forecast a success and a money machine for the council.

Shirley one challenge will be that there are unlikely to be return customers (once you've been up that's it) so they will be depending on "new" customers all the time? Unlike a pier where people are happy to enjoy the experience on multiple occasions.

 

[The Albion Roar]

Already exceeded their summer target in just three weeks, 100,000+ visitors already. It's looking like it's going to be a nice little earner for the council.

Shame about the embarrassing turn of events yesterday but it won't put me off going on it.

Quite. New estimates, based on the opening weeks, have been announced that they believe the loan could be repaid in six years, not 25.

 

[CHAPPERS]

Quite. New estimates, based on the opening weeks, have been announced that they believe the loan could be repaid in six years, not 25.

Lovely job.

 

[Easy 10]

Because this was a political folly that highlights how pathetic our local politicians are. They couldn't even get the warning signs when private enterprise refused to back the project. Yet the egos of Kitcat and Theobald meant they did a dirty deal to put taxpayers at financial risk. They were warned but decided to ignore the warnings ...... now the predictions are proving to be true.

Taxpayers are not at any financial risk. The i360 was funded by a combination of private investment, and a loan from the Public Works Loans Board, which is ringfenced funds at central government for projects such as this.

 

[southstandandy]

I went on this a week ago and I must admit I was pretty disappointed. I wanted to try it but the whole experience was pretty dull and in my view is only worth trying once. And when we went there only about 50 on board - at least we had plenty of space!

 

[clippedgull]

Shirley one challenge will be that there are unlikely to be return customers (once you've been up that's it) so they will be depending on "new" customers all the time? Unlike a pier where people are happy to enjoy the experience on multiple occasions.

That's a fair point.

But, you are drawing from the worlds population and there are enough people 'out there' that visit Brighton who will ride the i360 and enable it to make the revenue to satisfy it's loan repayments.

 

[The Albion Roar]

Taxpayers are not at any financial risk. The i360 was funded by a combination of private investment, and a loan from the Public Works Loans Board, which is ringfenced funds at central government for projects such as this.

Don't bother, Easy. We've been down this road before.

He knows all this, but chooses to post his own fabricated tedious twaddle on the matter.

 

[Easy 10]

Don't bother, Easy. We've been down this road before.

He knows all this, but chooses to post his own fabricated tedious twaddle on the matter.

Moaners gonna moan I guess.

 

[Westdene Seagull]

Taxpayers are not at any financial risk. The i360 was funded by a combination of private investment, and a loan from the Public Works Loans Board, which is ringfenced funds at central government for projects such as this.

And who pays the Public Works Loans Board loan if the venture fails ? Councils have one purpose in life - to provide essential public services - not to invest in projects that should be privately financed.

 

[goldstone]

And who pays the Public Works Loans Board loan if the venture fails ? Councils have one purpose in life - to provide essential public services - not to invest in projects that should be privately financed.

That sounds about right to me. If the whole thing goes tits up, then surely the money behind the loan is taxpayers' money .... that's you and me. And I don't agree that my taxes should be spent on a vanity project on Brighton seafront.

 

[papajaff]

Anyone else remember having to get off the number 6 as it was halfway up the last bit of Bear road as it started to overheat. The bus would then wait at the top to let people get back on.

The Number 6 up Bear Road?

 

[clippedgull]

And who pays the Public Works Loans Board loan if the venture fails ? Councils have one purpose in life - to provide essential public services - not to invest in projects that should be privately financed.

That sounds about right to me. If the whole thing goes tits up, then surely the money behind the loan is taxpayers' money .... that's you and me. And I don't agree that my taxes should be spent on a vanity project on Brighton seafront.

If the doom mongers like yourselves are correct (which they won't be!), then the council take ownership of the facility and have the option to run it themselves or sell on to another group. There is absolute minimal risk with potentially huge rewards for the Council and investment in our city.

 

[The Clamp]

And who pays the Public Works Loans Board loan if the venture fails ? Councils have one purpose in life - to provide essential public services - not to invest in projects that should be privately financed.

Same quality of research you put into your leave vote, I see.

 

[Dick Swiveller]

I've no doubt it will prove popular and will be an asset to the city but I can only go on what I saw and they seemed far too desperate to please a big corporate client that they tried to operate when all common sense suggested not to. A less than convincing test followed by a door failure with a burning smell. And still they tried to go.

 

[Westdene Seagull]

If the doom mongers like yourselves are correct (which they won't be!), then the council take ownership of the facility and have the option to run it themselves or sell on to another group. There is absolute minimal risk with potentially huge rewards for the Council and investment in our city.

It's nothing to do with being a gloom monger. I just don't believe councils, or indeed government, should be investing taxpayers money in private enterprises. Do you not think it strange the uproar about the government investing taxpayers money in the bank bailouts yet when a council bails out a local failing project it's OK ?

I hope it is a success, it needs to be, but councils need to concentrate on providing services not investing money.

 

[Westdene Seagull]

Same quality of research you put into your leave vote, I see.

Oh dear Nibble, what have I posted that is untrue .... go on, I challenge you to actually answer a question for a change !

 

[The Albion Roar]

And who pays the Public Works Loans Board loan if the venture fails ? Councils have one purpose in life - to provide essential public services - not to invest in projects that should be privately financed.

In other words, according to you, the council should not be allowed to make its own money, irrespective of the appalling cuts to local government down the years. And all funds should go to private hands - because that's really worked well nationally, hasn;t it?

Given your model, local government would cease to be able to function, and shows how little you know about how it functions.

 

[The Albion Roar]

Oh dear Nibble, what have I posted that is untrue .... go on, I challenge you to actually answer a question for a change !

Well, there's this...

the egos of Kitcat and Theobald meant they did a dirty deal

And this...

now the predictions are proving to be true.

And this...

I don't have to hand but their visitor forecast meant they would have to have full pods running 12 hours a day almost every day of the year.

None of which are true. You've made them all up.

This, with your risible twaddle about councils should only provide essential services (and not help raise its own funds to offset the massive shorfalls in government settlements) really makes me glad you're nowhere near having anything to do with running the city. You wouldn't last two minutes.

 

[The Clamp]

Oh dear Nibble, what have I posted that is untrue .... go on, I challenge you to actually answer a question for a change !

I'll answer your idiotic questions when you have the common decency to use my correct name. Besides AR has just comprehensively owned you and answered all your questions.

 

[Cadiz Seagull]

The London Eye had teething problems but theirs were mainly getting the thing into the vertical position before they could even start testing or operating.

I remember a brilliant ad from Virgin at the time saying "BA can't get it up!"