Ferris wheels - very interesting article

[grenadene]

http://www.oneballmedia.com/node/157

I'm not sure if this has already been posted? but I found this a very interesting article. It explains why so many of these things are popping up in our capital cities.

[diamond dogs]

Unfortunately the link is broken but below is a brief description of the (George Washington Gale) Ferris invention and here are some snaps I took just back from 'Sunny Beach' Bulgaria where the Ferris wheel (complete with eye in centre) was placed attached to a popular night club (energy extraction). I only saw the thing with passengers on a few occasions so is not placed there for profit. In the pic you can also make out the ben ben stones atop a hotel close by...Big Ben and London eye spring to mind.

[IMG][/IMG]

These things are going on all around the world on various scales. I have explained previously that Ferris wheels are notoriously uneconomical. So why are they appearing all over the bloody place? Who is funding it all? The London Eye alone is losing 25 million pounds a year. Why is this happening you might ask? Well simply put my friends, and again I tell you the truth, placing a Ferris wheel in these locations basically turns the area in to a 'Sun Temple' and whatever monuments or buildings that are in the same area also become part of that temple....
I had a task in 2004 to try and start to put this 'Ferris Wheel' type information out to the public. Initially the thought of a Ferris wheel being an illuminati created symbolic monument is a tad weird and hard to explain and obviously open to ridicule. To claim that a Ferris wheel is also used as a portable 'spiritual energy extractor' that can literally turn an area into a Sun Temple and is purposely placed on energy lines around the world for use in Sun rebirth rituals is even harder.

http://www.whale.to/b/ferris_wheel.html

[lizzyking]

They are popping up around clubs?

Cool. I have a fond memory of when I was a sorta shy kid, and riding on one at the carnival with a girl I had a crush on, and kissing her when it stopped when we were at the top, because she pretended to be scared and grabbed hold of me

Maybe they are showing up at clubs as an attraction, because they do seem to appeal to lovers.

[skaff]

I don't understand how the London Eye loses 25 million a year??

3 million visitors a year at over £10 a go is a lot coming in. That means that ground rent, maintenance and power costs would have to amount to over £150000/day to cause a loss that big!!

[diamond dogs]

Originally Posted by skaff

I don't understand how the London Eye loses 25 million a year??

3 million visitors a year at over £10 a go is a lot coming in. That means that ground rent, maintenance and power costs would have to amount to over £150000/day to cause a loss that big!!

I too find this hard to believe but here is an old article explaining the 'loss'..it is an 'Eye Sore' imo although I have been on it I remember I felt a very negative emotion on the day...

The Millennium Wheel racked up £18 million in losses last year as it struggled with crippling interest repayments.

Accounts for the London Eye Company highlight the extent of the financial crisis looming over Britain's most popular paid-for attraction.

Despite the huge affection Londoners and visitors to the capital have for it, ticket revenues for the £11.50-a-go wheel fell by £1 million to £37 million in the year to 31 December last year.

But even with that fall, the Eye would be making healthy profits if it were not for the 25 per cent-a-year interest rate being charged on the loan by British Airways.

BA stumped up £48 million to build the wheel five years ago. Since then, the debt owed to the airline has increased to £130.6million as the interest piled up. Last year, repayments totalled £29 million.



http://www.thisislondon.co.uk/news/a...es-18m-loss.do

[skaff]

Originally Posted by diamond dogs

I too find this hard to believe but here is an old article explaining the 'loss'..it is an 'Eye Sore' imo although I have been on it I remember I felt a very negative emotion on the day...

The Millennium Wheel racked up £18 million in losses last year as it struggled with crippling interest repayments.

Accounts for the London Eye Company highlight the extent of the financial crisis looming over Britain's most popular paid-for attraction.

Despite the huge affection Londoners and visitors to the capital have for it, ticket revenues for the £11.50-a-go wheel fell by £1 million to £37 million in the year to 31 December last year.

But even with that fall, the Eye would be making healthy profits if it were not for the 25 per cent-a-year interest rate being charged on the loan by British Airways.

BA stumped up £48 million to build the wheel five years ago. Since then, the debt owed to the airline has increased to £130.6million as the interest piled up. Last year, repayments totalled £29 million.



http://www.thisislondon.co.uk/news/a...es-18m-loss.do

Thanks for that. As you said, that is a VERY old article (2004) and i'm not convinced on the maths either! 48 million @ 25% apr even without any repayments would accrue to a debt of just under 147 million. However in one year alone there were 29 million pounds worth of repayments!

Also the article mentions a refinancing deal for later that year. I would be very surprised if the eye is still running at a loss.