<< Previous day Blog posts in this category Next day >>
<< Previous year (same day) (if any) Next year (same day) >>
February 3, 2009 [LINK / comment]
Citi Field (?) and the bank bailout
Since it was learned that CitiCorp is in such bad financial shape that it needs a bailout from Uncle Sam (see Nov. 23, third item), some critics question whether it is proper for it to go ahead with the "Citi Field" naming rights deal with the New York Mets. CNN.com reports that two Congressmen -- Dennis Kucinich (D-OH) and Ted Poe (R-TX) -- wrote a letter to the new Treasury Secretary, Tim Geithner, arguing:
Citigroup is now dependent on the support of the federal government for its survival as an institution. As such, we do not believe Citigroup ought to spend $400 million to name a stadium at the same time that they accept over $350 billion in taxpayer support and guarantees.
Rep. Kucinich is known as something of an oddball, but it's still hard to disagree with the argument he and Rep. Poe make. On the other hand, barely two months remain until Opening Day, and it would be extremely difficult to come up with a new naming rights contract in the current economic climate, and then to fabricate new stadium nameplates from scratch in such a short time. (At least CitiCorp is not in the same roguish league as the now-defunct Enron and Ameriquest.) Thus, the Mets are in an unfortunate no-win situation -- kind of like the United States of America as a whole is! As one of the wealthiest franchises, the Mets should follow the example of the Yankees and shun any such naming rights deal. Why not call their new ballpark "Mets Stadium"?
UPDATE: I just noticed that this was the lead story in today's Wall Street Journal. It seems that, like the Mets, CitiCorp finds itself in a no-win predicament as well: If they pull out of the naming rights deal at this late stage, it will be seen as caving in the public pressure and might make it harder for them to exercise negotiating leverage in other high-stakes transactions. Those poor guys...
Wrigley Field video
John Meyer let me know about an old home movie that he posted on YouTube about two years ago. The film shows several scenes from the 1929 World Series when they played the Athletics -- losing, of course. It opens with Flag Day ceremonies on June 21, 1930, when the Cubs hoisted their National League pennant. There are great views of the ballpark from several angles, and it's just an amazing "time machine" experience. See youtube.com.
Posted (or last updated or commented upon): 03 Feb 2009, 3: 31 PM
(unformatted URL) .
ALL blog posts today
New blog post entry
This post is over a week old, so comments are closed.
© Andrew G. Clem. All rights reserved. Your use of this material signifies your acceptance of the Terms of use.
Hits on this page (single blog post) since July 2, 2007: 
Category archives:
(all years)
Baseball
Politics
Latin America
War
Wild Birds
Culture & Travel
Science & Technology
This (or that) year's
blog highlights
January 5, 2009 Illegal immigration: no problem
January 10, 2009 Bush's fiscal profligacy: a recap
January 20, 2009 Inauguration Day 2009
March 13, 2009 Tax revolt in Augusta County!
March 14, 2009 Mexican Army counterattacks
March 27, 2009 Facebook: resistance is futile
April 5, 2009 RPV chair Frederick is removed
April 8, 2009 Fujimori is convicted, again
May 3, 2009 (Very) Big Spring Day, 2009
June 12, 2009 Tiger Stadium memorial update
June 16, 2009 Home runs in New Yankee Stadium
June 28, 2009 Obama's health care proposals
June 29, 2009 House votes to regulate climate
July 7, 2009 R.I.P. Michael Jackson, Superstar
July 9, 2009 Conservative defeat in Mexico
August 16, 2009 Great Baseball Road Trip 2009
August 23, 2009 Road Trip 2009: The Birds of August
August 27, 2009 R.I.P. Edward M. Kennedy
September 7, 2009 Two clutch homers end Nats' skid
October 10, 2009 Republicans reunite in Verona
October 16, 2009 Health care polemics heat up
November 4, 2009 Republicans sweep Virginia races
November 5, 2009 Yankees are the 2009 champions
November 21, 2009 Senate votes on health care
December 23, 2009 Musings on health care "reform"
December 30, 2009 Decade of creation, and destruction
December 30, 2009 Whither the Republican soul?
December 31, 2009 A (half) decade of baseball in D.C.
Blog highlights have been compiled for the years 2010-2012 thus far, and eventually will be compiled for earlier years, back to 2002.
Explanation
The "home made" blog organization system that I created was instituted on November 1, 2004, followed by several functional enhancements in subsequent years. I make no more than one blog post per day on any one category, so some posts may cover multiple news items or issues. Blog posts appear in the following (reverse alphabetical) order, which may differ from the chronological order in which the posts were originally made:
- Wild birds (LAST)
- War
- Science & Technology
- Politics
- Latin America
- Culture & Travel
- Canaries ("Home birds")
- Baseball (FIRST)
Also see: My blog practices.
Blog errata (Nobody's perfect.)