▸ The gist: Longtime Cajundome Director Greg Davis didn't think it was right that he hold onto his $160,000 a year job while having to deliver news to seven other employees that their positions were being eliminated. So the 63-year-old, who has worked for the Cajundome since it opened in 1985 — 25 years as director — announced he'll retire at the end of October, three years earlier than he'd planned.
▸ His second in command, Pam Deville, was elevated to director, a move that alone will cut $120,000 in salary expenses. In all, Davis' plan will save the struggling venue half a million dollars, a figure that represents a 13 percent reduction from the $3.8 million it spent on payroll (including taxes and benefits) in 2018. The venue's annual operating budget is $7.8 million.
The drastic steps were prompted by a $400,000 deficit for the current fiscal year, a number that for the first time exceeds the operating subsidy paid by Lafayette Consolidated Government to prop up the entertainment venue. That subsidy, $392,000, was cut to $376,000 for next fiscal year; in recent years it was as much as $500,000, and at times — like at the height of the IceGators' popularity— has been zero (another $100,000 LCG provides annually can't be used for operations). Davis says a study by LEDA concluded that the the subsidy averaged $358,000 annually for the first 30 years of the Cajundome's existence.
"I'd been looking at this [financial situation] for at least four to six months," Davis says, explaining that he was holding out hope a couple more concerts would be booked in the current year. That didn't happen. And concerts are where the money is.
▸ It's the economy, stupid. While Lafayette's economy may be showing signs of stabilization in the aftermath of the hit it took from low oil prices and resulting job losses, concert promoters seem to think we're still suffering too much to take a chance on us, Davis suggests. "I think we're going to overcome it. We're going to book more concerts. You book the right concert in this market, and it will do well." Case in point: the Garth Brooks series, which accounted for five of the eight concerts the Cajundome hosted last fiscal year. Brooks alone sent $217,400 directly to the Cajundome's bottom line from ticket and suite sales, concessions and merchandise. Eight concerts, which is the Cajundome's average, were enough to finish last year in the black, the six booked this fiscal year were not. In past years, the venue has hosted as many as 10-12 concerts.
Davis is leaving the Cajundome in competent hands and in great physical condition, the result of a $21 million renovation completed in December 2016. That capital improvement (and the construction of the convention center) was funded by a bond sale backed by the Lafayette Parish hotel-motel tax the state rebates to the venue, money that can be used for capital improvements and maintenance but not for operations.
▸ What's next for Davis? The community activist and lifelong North Lafayette resident plans to continue devoting much of his attention to education reform, specifically reversing the mindset that black children, especially poor black children, are incapable of excelling academically. He's on the board of TM Landry College Prep, which is moving from Breaux Bridge to Lafayette in September, taking over the former call center at Northgate Mall. "TM Landry is ... a walking contradiction to that belief," Davis says. "It's going to provide outstanding examples of black children who are achieving at high academic levels to overcome this myth that because of the color of your skin and because you are poor, that you are not capable of high achievement."