White Elephant: (noun) A major capital project, under-taken by a - TopicsExpress



          

White Elephant: (noun) A major capital project, under-taken by a municipal government costing in excess of $25,000,000 in which no business plan, feasibility study or cost-benefit analysis is completed prior to a city council approving the expenditure. Often includes an over-valuation and inflated purchase price, under-estimated deficiency list, interest on the deposit being paid to the seller (not the buyer) and a realtor double-ending on the commission.
Posted on: Fri, 18 Apr 2014 23:37:32 +0000

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