Zimbalist's sunny predictions regarding the benefits of the Atlantic Yards project were premised on a ten-year buildout of the entire project, a timetable that then was not necessarily likely and that is now highly doubtful.
Yet Zimbalist, as with the governmental backers of the project, produced only one set of numbers rather than alternate scenarios incorporating changing conditions.
He should've known better.
He does know better.
Caution regarding Olympics
A 2/11/10 Los Angeles Times article headlined Tough sledding ahead for NBC in Games: The network forecasts red ink of $250 million, contains this passage:
NBC executives acknowledge their estimates for 2010 revenue were faulty. They expected continued advertising growth, not a recession that would hammer the economy and flatten ad budgets.
"Nothing goes up forever," said Andrew Zimbalist, an economist at Smith College.