Author Topic: Yankees need money, FDNY cuts companies  (Read 1649 times)

Offline grumpy grizzly

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Yankees need money, FDNY cuts companies
« on: December 14, 2008, 09:58:04 AM »
I was watching ESPN this AM and the topic was the recent signings by the Yankees totally 140 millions dollars or so. They also said that the new stadium was way over costs and they were going to the city for 300 million in tax-free bonds, Go figure. Grumpy Grizzly, Red Sox fan 4ever ;D
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Yankees need money, FDNY cuts companies
« on: December 14, 2008, 09:58:04 AM »

Offline manhattan

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Re: Yankees need money, FDNY cuts companies
« Reply #1 on: December 14, 2008, 11:07:50 AM »
I don't think that team loyalty plays any part in this topic.  The Yankees (and every other professional team in any sport) are a for-profit business and, by all accounts, do pretty well for their owners.  A small, family-owned mom-and-pop store down the block from where I live closed last week because the landlord wanted to raise their rent by over 100%, but they had no hope of going to City Hall or any other politician and asking for a bond issue or any other public financing to keep their third generation business (which employed four local residents) going.  Jobs provided by the teams for local residents are generally seasonal (ushers, security, vendor employees etc) and really don't do much to help the local economy.  In FY 2008, the NYPD alone lost over $90 Million from its budget; that's considerably less than the recent signings by the Yankees and the bond issue that they now want is more than TRIPLE that loss.  I'd rather have cops on the street and firemen in operational houses than subsidize for-profit businesses that I can't afford to patronize anyway.  The Wilpon family reportedly lost several million dollars in the recent Madoff Ponzi scheme; I'm waiting for them to figure out a way of having the NYC taxpayer foot the bill for them.
« Last Edit: December 14, 2008, 11:10:54 AM by manhattan »