At this point I'm truly doing my best not to think about the present condition of the economy. Every time I switch on the news, another 5-10,000 folks have lost their jobs, the stock market has hit it's lowest closing since 199x, and people are flocking in mass exodus away from the one state in which I'm trying to get a job. Things are bad, and until I see even a smidgen of something resembling an iota of hope, I avoid as many details of the macabre nature of our collective financial situation. And then Sue's crinkles our nose as we pick up a foul odor permeating the air after catching wind of more disconcerting economic news.
How much of this goes to Sprewell's kids?According to the report:
[The] NBA plans to borrow $175 million to distribute to teams in need of additional cash.
The deal comes at a time when leagues are laying off staffs and cutting ticket prices. It will allow the NBA to distribute up to $11.66 million to 15 teams that responded to a league survey gauging interest in the money, SportsBusiness Journal said.
The report also says JPMorgan Chase and Bank of America arranged the private-placement deal, in which non-banking lenders extend the cash at a fixed rate. In this case, the interest rate is 8.27 percent for $100 million; 7.45 percent for the remaining $75 million.
Teams can use the money for any purpose.
[SIGH]
In any case, it's borderline despicable that the government, and therefore we the people, are shelling out billions to save the banks, while the banks are shelling out a few hundred millie to basketball teams who's primary product are a bunch of supremely overpaid athletes. I hope the players are smart enough to realize that there will be a considerable backlash in the coming months - if not years - from the consumers directly targeted at these millionaires who contribute little more to society than a high-end circus show.
Don't get me wrong, I am the first to recognize the dedication and hard work put into becoming an elite athlete every day of their lives. I am also a firm believer that anything someone is willing to pay you is what you're worth. But when they can no longer pay you and your salary becomes the investment of a Bank likely to receive billions in Federal bailout money, then you become - in the eyes of millions of Americans - overpaid, undeserving and a large part of the problem this country is facing. Unfortunately, fair or not, if this story builds up steam and gains traction in the American conscience, the players will take a huge amount of blame and resentment from the public.
Not that their rich asses care.
Records
OBJ: 11-5
Joe Friday: 11-5
The parity in our respective gambling skills is just stunning. This competition is clearly more exciting than the plan to build an enormous telescope in Chile large enough to see "The Cosmic Eye." Interestingly enough, I believe they called it The Alan Parsons Project.
Could be the other-worldly explanation for our 69% winning percentage.OBJ: Cleveland/Houston OVER 185
I stared at these lines for 45+ minutes. Couldn't figure it out. The "insider" information didn't help worth a shit either. Just confused me with like, numbers and stuff. Going with the gut.
Joe Friday: Phoenix (+12.5) over Los Angeles
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2 comments:
What up BenJammin? So I guees you didn't cover on the Cavs/Rockets game? That was alot of points for 2 teams with opposing scoring threats: Cavs a powerful 2 guard who distributes the ball to spot up shooter and cutters, and the team with the best Center who just pounds it inside and relies on 3 other players to set the tone on D!
What do you think of Ben Wallace going down? You think Orlando or Atlanta can catch up to Boston or Cleveland?
Not to make excuses, but there really wasn't that many choices (Thursdays = 2 NBA games only). The spread on the Suns game was fairly large, but admittedly I was unaware of Nash's condition. Additionally I didn't think the Cavs would cover a 2.5 point spread, but thought they had a chance to win.
In any case the Cavs are scoring an average of 97.6 PPG while allowing 92.3 on the road this year. That's 189.9, a fair distance above the 185 O/U line. This was the only stat that popped to me, and - obviously - I was wrong. Can't be right all the time.
As far as my thoughts on Wallace - I think that if anyone wants to bet me that Orlando or Atlanta will catch up to Boston/Cleveland I've got a paycheck to dedicate.
-OBJ
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