Tuesday, June 27, 2006

So this is what they're spending the money on

"Maybe," a Shoreline lawyer is reported to have said as the two sides finalized the terms of a $10 million settlement, "Jon Wiener will move on to something else now."

Fat chance. Here's what's news:

1) The city filed suit Tuesday against auditor Daoro, Zydel & Holland and a host of others, seeking in excess of $5 million in damages for the firm's secret deal with Bill Graham Presents. The city is arguing that this deal compromised the auditors' independence, helped conceal revenues that should have been reported, amounting to fraud, malpractice, and lots of other bad words. (link to new article coming soon)

2) Live Nation's final settlement with the city, for $10 million plus a $1.8 million annual lease payment, far exceeded an original offer from Clear Channel that came in a letter sent last December. That proposal, quickly dismissed by the city, was for $3.6 million and a maximum of $1.35 million a year, based on the number of shows.

3) In my neutral, unbiased role, I managed to obtain two items the city produced to commemorate the case, a "Don't mess with Mountain View" tee shirt and a piece of lucite thanking "all those who made possible a sweet and important victory." What I don't understand is why, after a $10 million settlement, they don't at least make the plaques out of real quartz.

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