THE LAST WORD

It may have seemed like a big gamble at the time. But when it came to

dealing with the Fletcher Jones Motorcars, Newport Beach’s cards turned

over to reveal a blackjack.

Giving up $2.8 million in money owed by the Irvine Co., the city back

in 1995 bet that it would make those dollars up by now if Fletcher Jones,

a transplant from Las Vegas, could realize its vision of a showcase

dealership. After all, who in Orange County doesn’t want a Mercedes-Benz

and who wouldn’t want to be treated royally at one of the most posh

dealership anywhere?

Turns out, not too many people. And instead of racking up a few

million in sales tax revenue, the city has hit a jackpot equaling $6.6

million -- money that has gone through our city coffers and onto our

streets, into our parks and to our police and fire departments.

If only every bet were that solid.