The Ledger

Making sense of money, 2010

Archive for October 2010

Money is no object in Connecticut Senate race

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If Linda McMahon does not get elected to the United States Senate – it will not be because she didn’t spend the money. According to The Associated Press, McMahon has loaned her campaign a total of $21,500,000 since it began last year. McMahon is willing to spend as much as $50,000,000 of her own money, just to buy her way into a Connecticut’s Senate Seat.

Yahoo News reported yesterday that Linda McMahon has spend $41.5 million total on her Senate campaign after donating another $20 million of her personal money between July and September.

She has said in the past that she is willing to spend over $50 million of her own money to get elected. – Making her the largest spending Senate or House candidate in the country.

 

– Yasmin Elgoharry

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Written by ccsu236

October 30, 2010 at 2:31 am

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MLB in ‘Golden Era’ after record-breaking revenue

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An article written by Ben Klayman, “Baseball’s picture bright amid economic gloom,” expects MLB to bring in a record-breaking $7 billion dollars this season.

It shows the numbers aren’t just good for baseball but also for the national broadcast partners who pay the league a combined $900 million dollars annually.

So far this year for the 2010 World Series FOX has already sold all its ad space for games one through five at rates said to be around $450,000 per 30 seconds.  With a World Series having 70 spots on the air during games that can mean $31.5 million or more in revenue just in ads a game.

These numbers are very exciting for FOX, who has the rights to broadcast the MLB games until 2013.  “We’re very happy with where baseball is today,” said FOX sports President Eric Shanks.  “If the deal was up this year, I think you would see FOX at the table for renewal.”

Commissioner Bud Selig added,”There’s no question this is the golden era for the sport and given the (weak) economy this may be the most remarkable year we ever had.”   “Every economic option in our business is up this year. We’re at numbers nobody ever thought possible,”  he added.

Even with revenue going higher than it ever has in the MLB, TV ratings are still on the struggling side of things.

Broadcasters won’t have their way this year either.  With the Yankees elimination last Friday was not welcoming to FOX while the World Series teams, Texas and San Fransisco, don’t have the same national following like the Phillies or Yankees.  The World Series last year was the highest rated since 2004.

Sports TV consultant Mike Trager and former NBC sports Vice President said, “FOX is going to be challenged,” and that, “they better hope that the series goes six or seven games.”

Even last Monday’s NFL game having higher ratings than the ALCS playoff game played that night, Selig isn’t worried. “Of course I’d like to them to be higher ,” Selig added about the sports national TV ratings, “but…the idea that people don’t watch baseball on television?  Wrong.”

I agree with Mr. Selig in the idea that people don’t watch baseball on TV.  The rating show a steady increase over the years but still aren’t up to par.  Through my observations with myself and my friends as we grew older we watched baseball much more and I feel that way for a lot of people.

With MLB bringing in the most money it’s ever had this year, TV rating are still down but everything seems to be going up every year so eventually if the fans keep coming the ratings will go up.

Written by ccsu236

October 27, 2010 at 11:27 pm

Posted in Uncategorized

Unemployment Rate Drop

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In 23 states, the unemployment rate has dropped significantly.

It was reported last month that this drop has been the biggest since June. Unfortunately 11 states’ rates have risen and 16 have stayed the same.

And to add to those numbers, job creation has not improved either. Even though unemployment rates may go down, hiring may not be increasing. Yahoo! News surveyed employers and apparently 34 states had their payrolls decrease. The amount of states that increased was about half that.

It’s stifling to read that because unemployment rates have gone down, it doesn’t necessarily mean hiring has increased. The ambiguity of the situation is a little misleading and troubling. What’s even more misleading is the Employment Situation Summery given by the Bureau of Labor Statistics and how it says the unemployment rate has not changed in September. The data given by the U.S. Department of Labor seems a little more convincing since Yahoo! News only had a few numbers listed in their article. The unemployment rate and unemployment people both have not changed which disappoints me. One website says one thing and another says different. One is positive and one is negative. It’s hard to say who’s right, but it’s unfortunate that they both conclude that hiring has not changed.

–Rob Arendt

Written by ccsu236

October 23, 2010 at 5:35 pm

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Debt vs Deficit

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Suppose you want to spend more money this month than your income. This situation is called a “budget deficit”. So you borrow (ie; use your credit card). The amountyou borrowed (and now owe) is called your debt. You have to pay interest on your debt. If next month you don’t have enough money to cover your spending (another deficit), you must borrow some more, and you’ll still have to pay the interest on the loan. If you have a deficit every month, you keep borrowing and your debt grows. Soon the interest payment on your loan is bigger than any other item in your budget. Eventually, all you can do is pay the interest payment, and you don’t have any money left over for anything else. This situation is known as bankruptcy.

-BRIAN JOHNSTON

Written by ccsu236

October 20, 2010 at 5:07 pm

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Business World Hopes Stocks Continue to Rise

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As the business world prepares to return to work on Monday, investors will be watching September’s stock in hopes the gains will continue. They hope the rise in stocks will ease the worrying about U.S. unemployment numbers and international currency issues.

The Dow Jones industrial average last month recorded its best September since 1939, and most investors have gained back their Spring losses. The big question on everyone’s mind is, can the current surge in stock value continue as the markets open again on Monday.

Several factors include, http://www.courant.com/business/sns-economy-week-ahead,0,2281386.story .

Jessica English

Written by ccsu236

October 20, 2010 at 4:13 pm

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IOC Jumps on the Affordable Train

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Spectators at the 2008 Beijing Olympics were a part of history, now the International Olympic Committee and host city, London for the 2012 Olympics are making it possible for anyone to go attend the events…now all you have to worry about it getting to London.

In an article published by MSNBC it is pointed out that London tickets are a bit more expensive than the tickets in Beijing, but it is assured that the only reason for the jump in ticket prices is so more affordable packages can be made available across the board.

As it stands the cheapest Olympic tickets begin at $32 US dollars and increases with the popularity of the event, the most expensive being the Opening Ceremonies. The most expensive ticket still coming in under $2,000.

“We have three clear principles for our ticketing strategy – tickets need to be affordable and accessible to as many people as possible, tickets are an important revenue stream for us to fund the Games and our ticketing plans have the clear aim of filling our venues to the rafters,” said Sebastian Coe, the London 2012 Chairman in an article published by Sky Sports

According to MSNBC 2/3 of the Olympic tickets that will be available to the public will be under $80 while 90% of the tickets will be no more than $160. That means that for less money than an NFL ticket you can witness history…now all you need is a plane ticket to get to London.

The Olympic Committee is also donating tickets to British schools so children can see the events, and kids under the age of 16 will be charged their age for a ticket. This means if you are 12 your ticket will be $12, to the lesser events anyway.

Personally, I think the affordable tickets is a good thing, especially in this economy. The Olympics shouldn’t be reserved for the men and women with deep pockets, for two weeks the athletes represent every man, woman and child in their country, and everybody should be given the chance to cheer on their homeland. Personally if I could swing a ticket and find my way back to London I would definitely take advantage of it.

Brittany Burke

Written by ccsu236

October 19, 2010 at 12:37 am

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P. Diddy Buying a Football Team? What!!!

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You can find the full article at NBC 30.

Yes, the multi-millionaire from Brooklyn, New York, Sean Puffy Combs, has his sights set on owning an NFL team.  And yes, “The Saga Continues…”

Diddy, P. Diddy, Puff Daddy, Puffy, Sean John, whatever you want to call him, tweeted late Thursday letting the Twitter world know his desire to join Jerry Jones, Al Davis and other mega-rich sportsmen in the owner’s box at a stadium in an as-yet undetermined city.  No teams are currently up for sale, but Combs is worth an estimated $300 million.  He could most certainly do it.

“I will be the 1st black man to be majority owner of a NFL football team!!!! BELIEVE!!!!!!! All things are possible through Christ!” Combs tweeted.

“I’m always looking into different business ventures and it’s definitely one of my dreams one day to be a part of a sports franchise, especially a football team,” he said.

“If the right situation comes my way and it’s appealing and we can make the right splash and most importantly build the right team and win… I’m into winning and if it’s the right situation then I’m open to it.”

So, just look back to Combs’ album with the Notorious B.I.G., because “Sky’s the Limit,” according to Mr. Combs.

– Brian Jennings

Written by ccsu236

October 18, 2010 at 10:45 pm

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