The 2008 economic crisis introduced us to the concept of banks and businesses that were "too big to fail." But last week, we learned of a curious new twist on that concept:
Arenas that are too big to pay their water bill.
It turns out that - amazingly - the Louisville Water Company completely forgot about one of the meters it installed at the YUM! Center back in 2010, and as a result, failed to bill the arena for $100,000 worth of water it used over the past five years. And once the mistake was discovered, the Arena Authority managed to negotiate the bill down to only about a third of the original amount!
I don't really blame the arena. I'd do the same in their position. But despite the assurances of a water company official that any homeowner would be afforded the same courtesy if involved in a similar situation, no water company has ever forgotten to read my meter. How about you?
Metro Council President David Tandy said the arrangement is reasonable because the arena shouldn't have been forced to pay a bill it didn't expect. I can see some sense in that, I guess, but the Water Company needs to tighten up its operation - especially if they hope to convince the public of the need for any future rate hikes. Most businesses couldn't get away with such sloppy practices.
I'm Bill Lamb and that's my Point of View.
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