To Doug Doughty:

I read your article (CBI puts Virginia in the red, March 28) this morning and was surprised you did not present a more balanced view -- including all revenues netting against expenses before throwing out a number.

As I thought we reviewed, the cost to do something is not what you "lose" on the endeavor. You need to include all revenues (sponsorship, radio, concessions, parking, etc.) and then subtract expenses to get to the net. Additionally, with John Paul Jones Arena, you probably have to eliminate the building financing -- as this is a sunk cost and is incurred whether the building has a basketball game or is dark.

I have no issue with you trying to present the "was it worth it?" issue to your readers. However, I do think, once you go down that road, you have a responsibility to present the whole picture -- don't you?

Rick Giles

Gazelle Group

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