The titans of the sports apparel industry are reveling in the success of the Olympic athletes they’ve signed up to wear their products in Rio. At the same time, the companies themselves are competing in their own games: the Corporate Welfare Olympics.
Tomorrow, the Baltimore City Council will hold its second hearing on the multi-billion-dollar taxpayer subsidy for Port Covington, the new "city within a city" proposed by Under Armour CEO Kevin Plank; interest in the first hearing last week was so strong, it had to be moved to a larger room to accommodate the roughly 500 people who showed up. The stakes could not be higher: As the costliest development proposal in our city's history, it will shape Baltimore for generations to come, both through the 45 new city blocks it would create and its effect on development in the 92 square miles we already have.
An incredible community-labor mobilization in Baltimore has tied up what would be the third-biggest private-sector tax increment financing (TIF) deal in U.S. history.