1. Jonathon Sine on Dan Wang and China. 2. Emi Nakamura on Odd Lots. 3. Jon
Hartley in the WSJ on Stanford. 4. Noah Smith on AI and job loss. 5. Did a
si...
Wednesday, January 21, 2009
Financing the Cubs sale IS life. The rest is details
I love it when baseball teaches us how desperately fucked we are
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I don't take his rebuke as an economic lesson. He's got a billion dollars, but the majority of franchise-owners find him to be a butt wad. They hate him more than they like money. Refreshing?
ReplyDeleteThe salient point I think is that he wouldn't have bought the team with that much cash and no one is willing to extend him reasonable level of credit. Something that was valued at $1billion a year ago is today probably a major cash drain at a %40 discount. It aint good.
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