The craziest thing about March Madness is that the NCAA, TV networks and college coaches make millions, while the players themselves reap non of the profits.
“The N.C.A.A. has a wonderful business model, one that any entrepreneur would love to have: a profitable business in which your employees help generate billions of dollars and basically work for the honor and the glory of the business and little more”.
“Expect the N.C.A.A. to fight this with all its resources. If the decision stands and other players at other universities try to unionize, the N.C.A.A.’s house of cards could collapse. It does not have a winning argument when it insists that it is not a commercial enterprise. Indeed, the organization argues against itself with each day of March Madness.
In Color Me Blue Ephron makes humorous, poignant and cutting observations about how Citi Bank did quite well for themselves in the Citi Bike deal at the expense of New Yorkers aesthetics and tax dollars.
“For $41 million — what Citibank paid to sponsor the program for five years — our city bikes became Citi Bikes. To make certain you don’t forget this fact, a Citi Bike sign hangs in front of the handlebars, Citi Bike is printed twice on the frame, and a Citi Bike billboard drapes the rear wheel on both sides. The font is the familiar Citibank font and the Citibank signature decoration floats over the “t.” There is no way to see a Citi Bike without thinking Citibank. The 6,000 bikes so far rolled out, of a possible 10,000, and their signs are a Day-Glo cobalt blue that you see on banks. Nobody wears this color. Nobody paints his or her apartment this color. This blue is bank blue”.
Don’t worry New Yorkers we aren’t the only ones subsidizing big business, as Greg Easterbrook points out in a recent Atlantic article on the NFL, the subsidization of major businesses like sports franchises is a national pastime.
Ever wonder where your tax dollars went America? (hint, it’s not just health care)
“Last year was a busy one for public giveaways to the National Football League. In Virginia, Republican Governor Bob McDonnell, who styles himself as a budget-slashing conservative crusader, took $4 million from taxpayers’ pockets and handed the money to the Washington Redskins, for the team to upgrade a workout facility. Hoping to avoid scrutiny, McDonnell approved the gift while the state legislature was out of session. The Redskins’ owner, Dan Snyder, has a net worth estimated by Forbes at $1 billion. But even billionaires like to receive expensive gifts.
Taxpayers in Hamilton County, Ohio, which includes Cincinnati, were hit with a bill for $26 million in debt service for the stadiums where the NFL’s Bengals and Major League Baseball’s Reds play, plus another $7 million to cover the direct operating costs for the Bengals’ field. Pro-sports subsidies exceeded the $23.6 million that the county cut from health-and-human-services spending in the current two-year budget (and represent a sizable chunk of the $119 million cut from Hamilton County schools). Press materials distributed by the Bengals declare that the team gives back about $1 million annually to Ohio community groups. Sound generous? That’s about 4 percent of the public subsidy the Bengals receive annually from Ohio taxpayers”.
I seriously considered boycotting pro-football, luckily the Giants and Jets are two of three teams that have paid 3/4’s or more of their stadium capital costs.
But seriously, subsidizing millionaires is madness, inequality is bad for everyone – and if you don’t trust me – listen to former Secretary of Labor Robert Reich.
But wait – you might say- I see that last bike at the end of the rack! Sadly, it’s always out of order.
I just finished reading “This is How You Lose Her”. Sometimes my body feels like Yunior’s.Though recently things have been going better. After a few years struggling with nagging injuries and not being able to play, in the passed few months I’ve finally been getting a few good games in! This isn’t me, but it’s a shot of one of my favorite places to join some pickup. Also, De Gea was ridiculous in the Champions league the other day.
