Since: May 09

Location hidden

#45785 Jan 16, 2013
How the F!@# can this Corbett guy sell the Lottery to a UK company on the sly, and no one is talking about it? This is the "governor" topic right, so lets get back on topic for a minute.

If Rendell pulled this, the conservatives would be in a tizzy. So we can't privatize the state stores, but the Lottery gets sold to a foreign company without a bidding process?

Come on.
Franklin Templeton

Washington, DC

#45787 Jan 16, 2013
Effington wrote:
How the F!@# can this Corbett guy sell the Lottery to a UK company on the sly, and no one is talking about it? This is the "governor" topic right, so lets get back on topic for a minute.
If Rendell pulled this, the conservatives would be in a tizzy. So we can't privatize the state stores, but the Lottery gets sold to a foreign company without a bidding process?
Come on.
You are 100% correct....where's the outrage vwhen these Tea Baggin crazies start acting like the true greedy bastards that they are. The Koch brothers etc. back these kinda people. Once they get in they are so friggin corrupt. They are going to destroy everything without winceing an eyelash. As long as they get some payola.

I hate the Pennsylvania mafia that ran all the numbers racquets before the lottery. These small town thugs became like little monsters in their respective towns....their power over these towns have been dimininished considerably by the state run lottery and the internet...

But now the big Corbett mafia is in place backed by his Tea Party friends will now be usurping the corruption wing of the Pennsylvania crime organization I guess....

What a louse he is for doing this...I used to play the lottery but I will never play it again...

Since: May 09

Location hidden

#45788 Jan 16, 2013
I didn't really want my post to become a blanket condemnation of the Tea Party, or some sort of proclamation of a "Pennsylvania Mafia," which is inherently hilarious for someone from the NY/NJ area, but also thanks to the ridiculously stupid, awesomely bad "Amish Mafia" show that people seem to love.

But yeah, this just screams of hypocritical.
John Galt

Temecula, CA

#45791 Jan 16, 2013
Ray wrote:
I sure hope the Ravens beat the Pats this weekend...
Why would anybody be a fan of a team led by a murderer?

“Right click Left click Yay!”

Since: Dec 10

Nehwon

#45792 Jan 16, 2013
Effington wrote:
How the F!@# can this Corbett guy sell the Lottery to a UK company on the sly, and no one is talking about it? This is the "governor" topic right, so lets get back on topic for a minute.
If Rendell pulled this, the conservatives would be in a tizzy. So we can't privatize the state stores, but the Lottery gets sold to a foreign company without a bidding process?
Come on.
Glad I'm not the only one who thinks selling the lottery smells like a personal money grab.

If this goes through, what are the odds Corbett becomes an "advisor" to that British Company when he's out of office?

My guess is the same as picking the numbers from last week's Powerball.

John Galt

Temecula, CA

#45793 Jan 16, 2013
Effington wrote:
How the F!@# can this Corbett guy sell the Lottery to a UK company on the sly, and no one is talking about it? This is the "governor" topic right, so lets get back on topic for a minute.
If Rendell pulled this, the conservatives would be in a tizzy. So we can't privatize the state stores, but the Lottery gets sold to a foreign company without a bidding process?
Come on.
The lottery is not being sold. This is just a management contract.
John Galt

Temecula, CA

#45794 Jan 16, 2013
Franklin Templeton wrote:
<quoted text>
You are 100% correct....where's the outrage vwhen these Tea Baggin crazies start acting like the true greedy bastards that they are. The Koch brothers etc. back these kinda people. Once they get in they are so friggin corrupt. They are going to destroy everything without winceing an eyelash. As long as they get some payola.
I hate the Pennsylvania mafia that ran all the numbers racquets before the lottery. These small town thugs became like little monsters in their respective towns....their power over these towns have been dimininished considerably by the state run lottery and the internet...
But now the big Corbett mafia is in place backed by his Tea Party friends will now be usurping the corruption wing of the Pennsylvania crime organization I guess....
What a louse he is for doing this...I used to play the lottery but I will never play it again...
Only idiots play the lottery (in any state), but it does get the poor to pay their fair share of the taxes.

“Right click Left click Yay!”

Since: Dec 10

Nehwon

#45795 Jan 16, 2013
John Galt wrote:
<quoted text>
The lottery is not being sold. This is just a management contract.
And with a wave of your hand and some perty words, it's all ok now.

Let's take a far fetched unlikely scenario...

The "management contract" turns out to be horribly mismanaged.

The lottery money is running out and they can't afford to pay out the annuity payments. In fact, that pension, err lottery fund was raided to pay for current operations, including huge bonuses for the C level execs. Taxpayer bailout to the rescue.

Who should I be angry with?

The state government! They sold it, err, management contracted it out! And the non-lottery taxpayers have to pay!

I know. That scenario would never happen nor has anything similar ever happened in the last 12 minutes.

At the very least, with the state running everything with the lottery, if it goes belly up, we know exactly who to blame.

“Right click Left click Yay!”

Since: Dec 10

Nehwon

#45797 Jan 16, 2013
John Galt wrote:
<quoted text>
Only idiots play the lottery (in any state), but it does get the poor to pay their fair share of the taxes.
Meh. I'll play every once in a while for entertainment purposes.

Like a lot of things, you have to pay to play if you want to hit it big.

Oh, and the poor paying their fair share of taxes thing. Good luck squeezing blood out of that stone.
John Galt

Temecula, CA

#45798 Jan 16, 2013
greymouser wrote:
<quoted text>
And with a wave of your hand and some perty words, it's all ok now.
Let's take a far fetched unlikely scenario...
The "management contract" turns out to be horribly mismanaged.
The lottery money is running out and they can't afford to pay out the annuity payments. In fact, that pension, err lottery fund was raided to pay for current operations, including huge bonuses for the C level execs. Taxpayer bailout to the rescue.
Who should I be angry with?
The state government! They sold it, err, management contracted it out! And the non-lottery taxpayers have to pay!
I know. That scenario would never happen nor has anything similar ever happened in the last 12 minutes.
At the very least, with the state running everything with the lottery, if it goes belly up, we know exactly who to blame.
Clearly, you don't understand management contracts.
John Galt

Temecula, CA

#45799 Jan 16, 2013
greymouser wrote:
<quoted text>
And with a wave of your hand and some perty words, it's all ok now.
Let's take a far fetched unlikely scenario...
The "management contract" turns out to be horribly mismanaged.
The lottery money is running out and they can't afford to pay out the annuity payments. In fact, that pension, err lottery fund was raided to pay for current operations, including huge bonuses for the C level execs. Taxpayer bailout to the rescue.
Who should I be angry with?
The state government! They sold it, err, management contracted it out! And the non-lottery taxpayers have to pay!
I know. That scenario would never happen nor has anything similar ever happened in the last 12 minutes.
At the very least, with the state running everything with the lottery, if it goes belly up, we know exactly who to blame.
By the way, I would assume that the annuity payments are relatively minor because most winners take the lump sum payment.
John Galt

Temecula, CA

#45800 Jan 16, 2013
TaxNoMore wrote:
<quoted text>
//////////
.
.
.
Why don't you sell those stupid idiotic state stores along with about 4,000 worthless overpaid public sector union pigs.
Because then liquor would cost about 30% less, as it does here in California. Not to mention having a far larger selection of beer, wine, and liquor and being able to buy all three at the supermarket. As well as being able to buy beer by the six-pack instead of by the case.

Why would anybody want that savings and convenience and lose the opportunity to deal with those wonderful people at the state liquor stores?
John Galt

Temecula, CA

#45801 Jan 16, 2013
greymouser wrote:
<quoted text>
Meh. I'll play every once in a while for entertainment purposes.
Like a lot of things, you have to pay to play if you want to hit it big.
Oh, and the poor paying their fair share of taxes thing. Good luck squeezing blood out of that stone.
Only fools, mostly the poor, would gamble with a 50% gross return. Even the Mafia paid 60% for the numbers.

The lottery mostly sucks welfare money and Social Security checks from the poor. The wealthy are wealthy because they are smarter that that.

“Right click Left click Yay!”

Since: Dec 10

Nehwon

#45802 Jan 16, 2013
John Galt wrote:
<quoted text>
By the way, I would assume that the annuity payments are relatively minor because most winners take the lump sum payment.
My google-fu is weak. You'd think that finding the percentage of winners who takes the lump sum vs. annuity would be an easy search.

And the question there boils down to how well you can invest the lump sum and get a larger sum of money over the course of years vs. the annuity.

If the jackpot is big enough, it's really a moot point when you think about it. Either way, your basic needs should be met.

After that, it becomes a matter of greed. I only got 20 mil from the annuity but if I took the lump sum and invested it, I could have had 30 mil!

“Right click Left click Yay!”

Since: Dec 10

Nehwon

#45803 Jan 16, 2013
John Galt wrote:
<quoted text>
Because then liquor would cost about 30% less, as it does here in California. Not to mention having a far larger selection of beer, wine, and liquor and being able to buy all three at the supermarket. As well as being able to buy beer by the six-pack instead of by the case.
Why would anybody want that savings and convenience and lose the opportunity to deal with those wonderful people at the state liquor stores?
I generally don't get into the PA booze laws.

It's a bit weird here. You can buy up to 2 6-packs at the local pizza shop (more expensive). For cases of beer, you need to go to a beer distributor (private business). Wine and hard liquor is state stores.

A number of years back, they got a business guy to run the state stores.(Joe Conti?) He changed those stores quite a bit. Some stores are open on Sunday. They experimented with having state stores in supermarkets. You can order cases of a favored wine over the internet and pick up at the store. The big one was using the buying power to negotiate discounts from suppliers.

As a consumer, it doesn't really bother me. Prices are competitive (used to run to Delaware ages ago. Heard Jersey was cheaper but that means going to Jersey - bridge tolls.) and you make your plans around the store hours like anything else.

Now I'm also in a major metropolitan area so my state store experience may differ than in the rural parts of the state.

If the state stores were privatized, what I could see happening is a most business catering to the most popular products. There would be a few specialty stores that go for off beat brands but you'll have to search them out. Pretty much a wash there.

Maybe I'm missing something, but this particular issue is just "meh" to me. Whether the state stores are privatized, the booze tax is still going to be there.

“Right click Left click Yay!”

Since: Dec 10

Nehwon

#45804 Jan 16, 2013
John Galt wrote:
<quoted text>
Only fools, mostly the poor, would gamble with a 50% gross return. Even the Mafia paid 60% for the numbers.
The lottery mostly sucks welfare money and Social Security checks from the poor. The wealthy are wealthy because they are smarter that that.
If the mafia paid off a big winner...

There was a murder here a couple of years ago. The news reported that it was a result of who was "more Irish". Word on the street was, guy hit an underground lottery for 70g. And when he went to collect, he won a baseball bat to the head.

And yeah... playing the lottery is not a retirement plan.

But trying to live off 3 part time jobs at minimum wage (if you can get them) isn't going to yield a decent retirement plan either.
Lottery

Greencastle, PA

#45805 Jan 16, 2013
If casinos or racetracks took 50% of the money wagered they would be empty. Def. of lottery "is a tax on the stupid."

“Right click Left click Yay!”

Since: Dec 10

Nehwon

#45806 Jan 16, 2013
John Galt wrote:
<quoted text>
Clearly, you don't understand management contracts.
Then educate me. Point me to a link where I can learn.

Would that management contracting company be forced to publicly show their books like this:

(PDF Warning)
http://lbfc.legis.state.pa.us/reports/2012/62...

More importantly, will that external manager be able to beat the Administrative costs as shown on page 19 on the above link?

Administrative Costs. For the years FY 2001-02 through FY 2010-11, Pennsylvania’s Lottery sales increased by two-thirds, and its administrative costs nearly doubled. However, administrative costs as a percent of total sales remained below 3 percent, ranging from a low of 1.97 percent in FY 2001-02 to a high of 2.65 percent FY 2007-08) and averaged 2.35 percent for the 10 years. See Table 8. As shown
Table 8
Administrative Costs as a Percent of Lottery Sales
FY 2001-02 Through FY 2010-11
($000)
Fiscal Year Sales Administrative Costs Administrative Costs as Percent of Sales
2001-02 .....$1,934,164 $38,119 1.97%
2002-03 ..... 2,132,981 47,873 2.24
2003-04 ..... 2,352,072 57,499 2.44
2004-05 ..... 2,644,856 63,423 2.40
2005-06 ..... 3,070,268 63,444 2.07
2006-07 ..... 3,076,339 74,851 2.43
2007-08 ..... 3,089,188 81,843 2.65
2008-09 ..... 3,088,162 73,912 2.39
2009-10 ..... 3,065,717 76,601 2.50
2010-11 ..... 3,207,908 73,698 2.30

“Right click Left click Yay!”

Since: Dec 10

Nehwon

#45807 Jan 17, 2013
Lottery wrote:
If casinos or racetracks took 50% of the money wagered they would be empty. Def. of lottery "is a tax on the stupid."
It's a government thing, so it's a tax, eh?

What word would you use for the skimming of money from gamblers at racetracks and casinos? Profit?

The difference is the profit from the lottery goes back into things that benefit (mostly, senior) citizens of the state vs. casinos benefiting a few people.
chrs

Pittsburgh, PA

#45808 Jan 17, 2013
Just pooped my pants.

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