ABC Privatization Proposal Overestimates Revenue | WAMU 88.5 - American University Radio

: News

ABC Privatization Proposal Overestimates Revenue

Play associated audio
Gov. Bob McDonnell's proposal to privatize liquor sales in Virginia projected greater revenue than is realistic, according to an audit report.
http://www.flickr.com/photos/drbeachvacation/
Gov. Bob McDonnell's proposal to privatize liquor sales in Virginia projected greater revenue than is realistic, according to an audit report.

A legislative review of Gov. Bob McDonnell's proposal to get Virginia out of the liquor business says profits from the sale have been overstated by tens of millions of dollars.

The Joint Legislative Audit and Review Commission report says McDonnell's staff painted too rosy a picture when it released its estimates.The current proposal calls for the auction of 1,000 retail licenses and the sale of wholesale licenses and various state liquor assets.

McDonnell originally estimated ending the 76-year monopoly could generate nearly $500 million for transportation projects. The governor later revised that figure to read: "the state would get $47 million less then what it get now."

Virginia Senate Majority Leader Richard Saslaw told the Alexandria City Council the ABC privatization proposal would not even cover "the cost of an overpass in Tysons Corner."

Saslaw says McDonnell should drop the proposal.

WAMU 88.5

Art Beat With Lauren Landau, Sept. 2

You can see a selection of Chinese films or meditate on the meaning of the word “axis” at an art exhibition.

NPR

These 5 Crops Are Still Hand-Harvested, And It's Hard Work

Saffron, vanilla, palm oil, cacao and cottonseed oil are still picked by hand in some parts of the world. Sometimes that manual labor shows up in the price of the food; sometimes it doesn't.
NPR

The Politics Of Calling In Sick

A growing grass-roots movement aims to establish paid sick leave in the U.S., enjoying some success at the city and state level. The issue is already playing big in 2014 political races.
NPR

Why Do We Blindly Sign Terms Of Service Agreements?

Audie Cornish talks with University of Chicago Law School professor Omri Ben-Shahar about terms of service agreements for software and websites.

Leave a Comment

Help keep the conversation civil. Please refer to our Terms of Use and Code of Conduct before posting your comments.