Phoenix is preparing to sell the Sheraton hotel downtown. The hotel has lost $38 million since 2008, and the city is now refinancing that debt.
The city got involved with the hotel as a companion of sorts to the refurbishing of the Phoenix Convention Center. Last week on The Show, we talked to Deputy City Manager Paul Blue about why Phoenix was moving out of the hotel business.
Now we turn to Tulane Economics Professor James Alm, who understands the rationale of government entities trying to drive economic growth -- but says it rarely works out.
