Buy The Virginia Fair

Well, not the fair, exactly, but The State Fair of Virginia, Inc., the non-public corporation in charge of the Fair, has reached that point in their Chapter 11 adventures where the Meadow Event Park goes on the auction block.   This is the new location of the Virginia Fair, after moving to this new location in 2009, but only a couple years later the money has run out and things are up for sale.  Poor money management is the main culprit: if you add up the salaries of the highest-paid officers, you get pretty darn close to their million-and-a-half annual loss that has been conisistent for the past couple years.   I don’t think the average investor has the money to buy the birthplace of Secretariat, but the $10 million assessment doesn’t seem too put of line.   The articles I’ve read make it unclear whether the sale is just the property, or other assets owned by the fair corporation; it’d be a pretty bad deal if you get the property, but the fair moves someplace else.   Maybe somebody will walk away with the property for a song, because there’s not a lot of use for this property aside from massively-scaled events.