The Ledger

Making sense of money, 2010

Archive for September 2010

“a piece of Facebook”

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Please check out this article in The New York Times.

via the Inquisitor

Is Zuckerberg really a nice guy or is this just some plan by him to look better? Dealbook writer Andrew Ross Sorkin gives some great points, but also shows that Facebook, “once more than 500 individuals or institutions own shares in Facebook, securities laws mandate that the company go public. Google staged an I.P.O. in part because it hit that same threshold.”

I found it really interesting that Zuckerberg made the “donation” so close to the release of the new movie coming out about him. “The Social Network” apparently doesn’t portray a  younger Zuckerberg in the best light. I will let you decide that on your own.

The Social Network Trailer

Jon Stank

Written by ccsu236

September 29, 2010 at 10:46 pm

Posted in Uncategorized

Rays look to give away 20,000 free ticekts to help sales

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The Tampa Bay Rays who clinched a playoff spot last night, second time in three years and second time in franchise history, did it in front of 17,891 fans at Tropicana Field, which is still below the team average.  It’s nowhere near what the Yankees or Phillies attendance  is  nearly every game but it was much better than the previous night where the Rays could have clinched but ended up losing to the Orioles.

On September 27th, against the Orioles, the crowd at Tropicana Field was a measly 12,446 in attendance.  You would expect more from a team who has the best record in baseball and was on the verge of clinching a playoff spot.  But the fans still didn’t come out to support their team.  Is it because ticket sales are still too high or is it that Ray’s fans just don’t care enough?

Two of the Rays players, Evan Longoria and rookie sensation David Price, made it clear that the attendance was embarrassing. According to David Price’s twitter (below) he thought the 12,000 in attendance was “embarrassing.”

david price
DAVIDprice14 david price
Had a chance to clinch a post season spot tonight with about 10,000 fans in the stands….embarrassing”
Longoria added it was “disheartening” and was “confused” to see that being a good ball club and a chance to make playoffs that they only had 12,000 instead of 20,000-30,000 fans.  In an interview after the game on Monday he let his feeling loose about how he felt on the situation.
So to help gain support of the fans and hopefully to raise ticket sales in the last four games of the season and the postseason the Rays organization is giving away 20,000 free tickets to tonight’s game.  For people who already had tickets will be upgraded to box seats.  As of earlier today the 20,000 tickets were sold out in an hour and a half.  So is this idea going to help?  I sure hope so because the Rays deserve it and it could even help postseason tickets for them as well as other teams that make playoffs.
Yahoo sports had a good article on this with interviews from the President of the organization.
Is it the players right to bash the fans for not showing up?  Do the fans HAVE to go to these games?  The fans won’t like to hear million dollar players telling them how to spend money on tickets which have been getting pricey.  Buster Olney explains in this interview.
In my opinion think Olney is right in where the players shouldn’t get mad at fans not showing up but being in a playoff race he fans should also show some support.
~Nick Rosa

Written by ccsu236

September 29, 2010 at 10:32 pm

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Fans Seek Cheaper Alternatives

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In my last blog posting I addressed that professional sports teams are being greatly affected by the dip in our nation’s economy, and as we move into the third week of the NFL season things don’t look to be changing any time soon.

“People love this game. And not only that but at a time when the economy in the United States is suffering so much, people need a cheap date,” said Peter King, senior NFL writer for “Sports Illustrated” in an interview with NPR.

The fact of the matter is with ticket prices on the rise, a sporting event becomes less and less feasible, especially when you can remain in the comfort of your own home and watch it on TV. What average family of four do you know who would be able to afford Giants tickets in their new, $1.7 billion stadium…not mine?

The NFL teams are coming to realize this as they push forward with the season and the question of a TV blackout is brought to the table. The Giants and Jets are two of those teams who should have been worried.

New York is known for its strong sports market with 3 NFL teams (lets not forget about the Bills), 2 MLB teams, one NBA team and two NHL teams. Even with a strong market such as theirs the NFL teams are struggling to put bodies in all 82,500 seats as Ralph Vacchiano points out in his column in the “Daily News.”

As an alternative to the overpriced NFL tickets some may decide to turn to the UFL, a professional football league entering its second season. The UFL has a home in Hartford with the Hartford Colonials and offers good football for affordable prices.

People in Omaha, where the Colonials will be playing this week, have caught on. The Omaha Nighthawks have boasted the first sellout in the UFL, selling all 24,000 tickets for the game against the Colonials.

While a UFL game is not the NFL it is still an opportunity to see the game you love and save a little money…it is definitely a game where you don’t have to feel guilty about bringing the kids along.

Brittany Burke

Written by ccsu236

September 24, 2010 at 1:13 pm

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Housing Market Still Slow Even With Increasing Mortgage Rates

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Record-low mortgage rates are starting to get higher, but home sales are still expected to stay slow.

An article in The Middletown Press explains how these low rates mean that houses are now more affordable than they have been in decades.

Senior economist at the Royal Bank of Scotland, Michelle Girard, does not believe that mortgage rates are hurting the housing market. Girard says that it is a lack of confidence about the U.S. economy and the constant concern about losing a job that has the greatest effect.

There is concern that if rates continue to climb, the housing market may get even worse. Girard says that this is not necessarily true and that a large jump in rates will signal a much stronger economy.

Jennifer Fazzino

Written by ccsu236

September 15, 2010 at 7:10 pm

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A Car for Cans

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A distribution Center in West Haven set a new rule that prohibits people from redeeming cans and bottles during certain hours of the day.  This rule applies to those people who walk, push a cart or ride a bike.

Keith Miers, the owner of Emtees, told The Register why this new rule was put in place.  Miers thought customers were “disruptive, intoxicated and were loitering in the center’s driveway.”  He also put this rule in for safety precautions too, as it is a stop for tractor-trailers.

Honestly, this rule is very discriminatory, as well as rediculous.  Not everyone owns a vehicle or is part of the middle class or above.  What if you live right next to the redemption center?  Would you have to pull your car out of the garage a few feet just to bring back some cans and bottles?  It also cracks me up that one of the reasons Miers put the rule into place was because people were intoxicated.  So does that make it alright for people to bring back cans and bottles in cars intoxicated?

– Brian Jennings

Written by ccsu236

September 15, 2010 at 7:04 pm

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Despite Benefits, Japan Weakens Currency

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While Japanese companies are taking advantage of the high value of the Japanese Yen against the dollar, Japans government  is working to lower it’s currency to stimulate its stagnant, export-led economy.

According to this New York Times article the Japanese monetary authorities attempted to raise the value of the dollar by buying dollars and selling Japanese currency shortly after the dollar hit a 14-year low.

Meanwhile, Japanese companies continue to extend their influence in U.S., Europe, China, and Africa by buying out companies such as Demension Data, NTT, and even e-commerce company Rakuten.

While the efforts of the Japanese monetary authorities to devalue their currency may create some positive, short-term growth, the question remains whether or not Japan can remain an export-led economy.  Japan is the leader in technology in Asia, however, countries like South Korea, Taiwain, and even China are quickly catching up.  With these other East Asian giants able to offer the same goods for cheaper prices, Japans economy may very well continue to see little growth on the homefront.

Casey Casserino

Written by ccsu236

September 15, 2010 at 7:03 pm

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A new premier global financial capital?

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George Soros speaks about his opinion of the US economy in an article written in The New York Times.

Mr. Soros states that if he had to describe the current US economy in one word, he would use the word “blah”.

This response is coming from a billionaire investor who probably isn’t struggling right now. Some individuals could agree to his description, but I think others wouldn’t have such a passive answer . The economy is taking a very slow recovery and one can only guess when it will return back to it’s highest potential. For those who still do have thier jobs, they may constantly be questioning how long they’ll last. Most people do not have the money to spend luxuriously like they used to.

In a more widely view, Mr. Soros goes on to speak about the use of currency and his feelings towards it. Soros feels that the Chinese currency could possibly replace the US dollar as the world’s reserve currency. If this happens, his fear is that “it would destroy the export machine that had brought about much of the economic growth in the country”.

China is already the big competator for the United States. They are the producers of many of the goods that are purchased throughout the world. If this does happen what does the future look like? Where does it leave the United States and it’s economy?

Allie French

Written by ccsu236

September 15, 2010 at 7:03 pm

Posted in Uncategorized