Financial Failure

The 2009 Orange County Fair was an unmitigated disaster. While the fair in Del Mar and Pomona understood market conditions and lowered prices or offered $1.00 admission days, the Orange County Fair was raising its rates on both its customers and its vendors.  Not only did the admission fee go up, but so did the ticket prices for the rides.

Why would anyone raise the rates during the biggest economic recession our nation has seen over the last 50 years? Any first year business student could tell you that is a recipe for disaster.  The problem is, Steve Beazley, the CEO of the Fair has never signed the front of a check, only the back.  Beazley doesn’t have a PhD in economics… or even an MBA… or even a college degree in business. Beazley is a former fair roadie with a psychology degree.  A psych degree may be very helpful when manipulating board members, but it’s not so effective when managing a multi-million dollar event like the fair.

In the 12 months Beazley has spent as CEO he has worked overtime to drive the fair into the ground by squandering millions of dollars that were in reserves, intimidating vendors and firing staff. This psychology major is clearly in over his head.

Beazley tried to convince the board that the 2009 fair was a success, but the vendors who actually worked the fair had a different story.  Beazley brought in more vendors, raised the rates and lengthened the time of the fair in order to claim success, but offered no proof other than his word.

That is just the tip of the iceberg.  Beazley had to pay out tens of thousands in taxpayer dollars to the Pet Expo folks because he couldn’t deliver what he promised. The buildings and infrastructure needed for this event were simply not done in time resulting in a taxpayer bailout due to Beazley’s incompetence.

It’s time for a forensic audit to see what is really going on behind the scenes.

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