Yes, the traffic is going to be very annoying, but think about the positive impact an event like this has on our economy. Summer tourist season is over. Many businesses are thankful for events that pour money into the region like the triathlon. Even if they don't spend the money this weekend, I'm sure many people are going to think "This is a nice area, we should come back for a vacation." The attitude of the residents has a lot to do with people's perception of the city.
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