A look at Jeffrey Loria and Miami's current financial situation.
“The point is, ladies and gentleman, that greed, for lack of a better word, is good. Greed is right; greed works.” —Gordon Gekko, Wall Street
I don’t know if Miami Marlins owner Jeffrey Loria owns a copy of Oliver Stone’s Wall Street. The movie, which came out at the height of the 1980s’ “excess is best” period would seem to play well with him. That now infamous speech by Gekko summed up everything that was wrong with not only Wall Street but also where America was headed. Loria, it seems, is still living in the 80s.
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The Padres are off to a horrible start, so a housecleaning might be forthcoming. Who stays and who goes?
The San Diego Padres, perhaps predictably, have gotten off to a miserable start in 2012. Although expectations were not high coming into the season, almost nothing has gone right for the club. Between injuries and ineffectiveness, not to mention ongoing ownership/television deal issues (I live 15 minutes from Petco Park and cannot watch the team on TV in my home, which might qualify as “charmingly retro” if it weren't so annoying), the Padres are staring at their worst-case scenario only a month into the campaign.
Last week, Kevin Goldsteinsuggested that a “housecleaning in San Diego could be coming.” Reader pobothecat wondered what such a housecleaning might look like, and so did I.
Padres fans have constant reminders of past failures and rebuilds as their team attempts to field a winner.
When Padres Vice Chairman & CEO Jeff Moorad recently tried to accelerate full transfer of ownership from John Moores to Moorad's group, the other MLB owners balked; Commissioner Bud Selig cited a need for “more clarity and technical information.” Moorad and his partners, who previously owned the Arizona Diamondbacks, purchased the Padres in February 2009. They were given “as long as five years to buy out the controlling interest” from Moores, who had owned the Padres since December 1994.
The two chief causes of this setback appear to be that:
Maury ponders the meaning of Jim Hendry's aggressive winter shopping for the pending sale of the game's lovable losers.
Within the industry, the Cubs are something of a mystery. They are the happy residents ensconced within the game's great jewel, Wrigley Field; they are seen by millions via WGN; they have money to burn. For all that, they've had little to show for it since 1908. They defy logic, spend like a drunken sailor on shore leave, pile up losing records, and nevertheless rake in revenues. Nowhere in professional sports has there been a team so consistently mediocre on the field, yet so consistently successful as a business over the last 20 years. The Cubs fly in the face of the conventional wisdom that winning fills the stands and losing keeps them empty.
Marlins Fire Sale II looks a lot better than Marlins Fire Sale I.
Eight years ago, in a stretch of nine months from November 11, 1997 through July 31, 1998, the Marlins traded 12 key members of their championship team, including five regulars, two of their starters and their closer. The deals, ostensibly made to help the team escape massive financial losses, sent the team into a five-year funk in which they lost 457 games and became a non-entity on the sports landscape.
Florida newspapers were hopping this week with continued coverage of the fire sale redux, plus some not-so-nice words about the hunt for a new stadium. Also: Billy Wagner burns the bridge to Philadelphia, and the Mets may trade the Bensons.
"The Mets are trying to win a World Series. I felt like this was the right place to be." --new Mets closer Billy Wagner, who signed a 4-year, $43 million contract (Philadelphia Inquirer)