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Cities losing Hundreds of Millions of Dollar$ due to NBA lockout
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Markji
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11/15/2011  12:14 PM    LAST EDITED: 11/15/2011  12:16 PM
Cities across are losing huge amounts of money due to the lockout. I wonder if the players or the billionaire owners care at all.

South Florida $200 million;
Portland $59 mil
OKC $60 Mil
San Antonio $90 Mil

This is Big money to the smaller cities. I wonder what the effect is for New York and LA? Where's Mayor Bloomberg? How many workers in the NY metro area are out of work due to the lockout? I would be for a Federal Gov't intervention to get the season started. Perhaps binding arbitration?

LeBron James might disappear in the fourth quarter of playoff games, but should the NBA regular season vanish, a big chunk of the South Florida economy may go up in smoke.

Economists tell CBS Miami that South Florida may suffer $200 million in losses if there is no pro basketball this year. Need an example of the shortfall? CBS reports parking near the American Airlines Arena is now going for three bucks.

And the lockout will do major damage to other cities, too.

In Cleveland, WOIO reports up to 35 percent of downtown restaurants' annual revenue comes from NBA games.

Portland says no Blazers games translates to a $59 million hit, Oklahoma City claims it will lose $60 million if Kevin Durant doesn't play, and Tony Parker's Spurs are worth an astonishing $90 million to the businesses of San Antonio.

Though Miami will feel it the worst, some feel the whole reason for the lockout itself is the Heat's ability to add James and Chris Bosh last year during free agency. Small market owners want to make sure that never happens again.

Of course, it's not just local cities that will need a major league stimulus plan. Bloomberg reports that Tuesday is the day pro basketball players were supposed to get their first paychecks of the 2011-12 NBA season. With the games on hold, the NBA's players are missing out on an average game check of $425,000 per player.

As a whole, the National Basketball Association has an annual revenue of about $4.3 billion, with more than $1.1 billion of that figure coming in the form of gate receipts during last season.

http://www.thepostgame.com/blog/dish/201111/south-floridas-eye-popping-economic-hoops-losses

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nyvector16
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11/15/2011  2:05 PM
I have had a sinking suspicion that helping tank the economy for the next election was what the owners were really angling for.
The NBA brings tons of money and provides a whole list of jobs from hot Dog Vendor to a TV Producer hosting a game on the network he works for.

it is not coincidence that the big market teams want a deal and the midwestern/southern owners want to perpetuate the lockout.

nixluva
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11/15/2011  3:07 PM
I think I read that the city of Memphis was looking to take some legal action against the Grizzlies because they're getting stuck with the bill for the Arena not having a way to make money to pay off the cost. There is an entire set of businesses that rely on the NBA for a good portion of their revenue. Stern really messed up and some writers called it before we got here. Some writers made it clear that it was a mistake to beat the players and then pile on. All Stern had to do was leave the players a little dignity. Just throw the players a bone so they could go back to the players saying "see, we got you this". Stern and the owners just had to twist the knife!
Markji
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11/15/2011  5:01 PM    LAST EDITED: 11/15/2011  5:07 PM
I agree. The small owners have not wanted a season. Period. For political reasons. For financial reason. Because their team stinks reasons. Because most of their players are playing overseas reasons (That's you Denver).

If Obama had any guts he would order the league and players to start playing. Order binding arbitration. Something. The 2 sides are very close if they really wanted a season.

Where are the jobs that the President promised. And Congress as well. There are thousands and thousands of people associated with the NBA season and wanting to go back to work. Instead of just spewing a lot of hot air and rhetoric, do something.

The difference between fiction and reality? Fiction has to make sense. Tom Clancy - author
Nalod
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11/15/2011  5:18 PM

This is obamas fault now? Wow!
BasketballJones
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11/15/2011  6:26 PM
Obama should be impeached for his handling of the NBA situation.
https:// It's not so hard.
Markji
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11/15/2011  6:41 PM    LAST EDITED: 11/16/2011  8:44 AM
Nalod wrote:
This is obamas fault now? Wow!
Never, ever said that!!!!

I'm trying to get the President inspired enough to take action. And members of Congress to take action. They can if they wanted to get involved. A lot of innocent people are getting hurt by this lockout and now this action by the union. It's in the best interests of the country that this gets resolved. Binding arbitration would do it.

The difference between fiction and reality? Fiction has to make sense. Tom Clancy - author
Markji
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11/16/2011  8:52 AM    LAST EDITED: 11/16/2011  8:53 AM
The Gov, local politicians and the Congress people from South Florida should be up in arms - their constituencies are losing $220 mil due to the NBA lockout. Also, goes for all the politicians from the 29 other NBA cities which are losing major income and revenues.

Using this article's numbers, I'll guestimate that on average $90 to $100 million is being lost by each of the 30 NBA cities. This comes to $3 Billion total. That's huge. Lost! And all because the 2 sides can't agree on some structural points. They've agreed on a 50 - 50 split which was the largest hurdle to overcome. This is ridiculous and it is time the politicians earned their salaries and stepped in and solved this impass.

The difference between fiction and reality? Fiction has to make sense. Tom Clancy - author
Nalod
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11/16/2011  9:54 AM

Lost?

More like redistributed.

Its not lost, its spend in other places or is still sitting in peoples accounts.

Advertisers will go elsewhere. Large Corp. season tickets will keep cash on the books or buy gifts for clients. Small biz who buy tickets will also look to other ways to reward best clients.

Joe Sixpack maybe pays down debt then buy tickets.

People will go to other restaurants.

Polititions will get involved when they can look like a hero to their districts. Otherwise they should not interfere with private commerce.

Owners are commited to lease payments that pays the bonds that the taxpayers are bound to.

Don't get me wrong, I feel bad for the small guy who suffers. The beer veners, the restaurants in the area, the catering companies and employees at the Arenas all are taking a big hurt.

DurzoBlint
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11/16/2011  10:02 AM
Markji wrote:I agree. The small owners have not wanted a season. Period. For political reasons. For financial reason. Because their team stinks reasons. Because most of their players are playing overseas reasons (That's you Denver).

If Obama had any guts he would order the league and players to start playing. Order binding arbitration. Something. The 2 sides are very close if they really wanted a season.

Where are the jobs that the President promised. And Congress as well. There are thousands and thousands of people associated with the NBA season and wanting to go back to work. Instead of just spewing a lot of hot air and rhetoric, do something.

WOW, talk about living in Bizarro World. So, this is a matter that the President of the United States should involve himself in.

the fact that you can't even have an unrelated thread without some tool here bringing him up make me think that rational minds are few and far between. Bunch of emotionally weak, angst riddled people. I mean, how many times can you argue the same shyt
smackeddog
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11/16/2011  12:11 PM
Nalod wrote:
Lost?

More like redistributed.

Its not lost, its spend in other places or is still sitting in peoples accounts.

I'd never actually thought of that before, but you're absolutely right. There's an interesting article over on hoopsworld about this issue, and it makes the very good point that if the money is simply redistributed to other things, then why did politicians give money to fund arena's? I think they got conned. What amazes me is why only Memphis are taking legal action vs the owner- if some of the other states took action then they might pressure the owners a bit more into ending the lockout.

Markji
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11/16/2011  1:45 PM
DurzoBlint wrote:
Markji wrote:I agree. The small owners have not wanted a season. Period. For political reasons. For financial reason. Because their team stinks reasons. Because most of their players are playing overseas reasons (That's you Denver).

If Obama had any guts he would order the league and players to start playing. Order binding arbitration. Something. The 2 sides are very close if they really wanted a season.

Where are the jobs that the President promised. And Congress as well. There are thousands and thousands of people associated with the NBA season and wanting to go back to work. Instead of just spewing a lot of hot air and rhetoric, do something.

WOW, talk about living in Bizarro World. So, this is a matter that the President of the United States should involve himself in.

Why shouldn't politicians get involved? If it is costing the NBA cities nearly $3 billion. What else are they doing. Campaigning and rhetoric? They are supposed to be creating jobs. That is a top priority in the economic recovery plans, probably of both parties. Well, thousands of people are losing jobs due to the lockout. Should we just feel sorry for them. We can go on forums and write what a shame it is that they are losing their income and/or jobs.

Or someone can do something about it. Someone with power and those are the politicians. Or is it just rhetoric that they want to get people back to work?

My only comment about my "Bizarro World" is what have YOU done lately to help correct some of the major problems in this country.
(P.S. - I did vote for Obama.)

The difference between fiction and reality? Fiction has to make sense. Tom Clancy - author
Markji
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11/16/2011  1:52 PM    LAST EDITED: 11/16/2011  1:54 PM
Nalod wrote:
Lost?

More like redistributed.

Its not lost, its spend in other places or is still sitting in peoples accounts.

Advertisers will go elsewhere. Large Corp. season tickets will keep cash on the books or buy gifts for clients. Small biz who buy tickets will also look to other ways to reward best clients.

Joe Sixpack maybe pays down debt then buy tickets.

People will go to other restaurants.

Polititions will get involved when they can look like a hero to their districts. Otherwise they should not interfere with private commerce.

Owners are commited to lease payments that pays the bonds that the taxpayers are bound to.

Don't get me wrong, I feel bad for the small guy who suffers. The beer veners, the restaurants in the area, the catering companies and employees at the Arenas all are taking a big hurt.


Your premise is partly true. Some money will be spent elsewhere, but much or even most (50%) probably won't. For a healthy economy, economists look at the velocity of money, i.e.; how quickly money is turned over. This lockout decreases that by a lot for those cities affected. It hurts the economy and our economic recovery as well as the individual workers.
The difference between fiction and reality? Fiction has to make sense. Tom Clancy - author
Nalod
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11/16/2011  1:55 PM
smackeddog wrote:
Nalod wrote:
Lost?

More like redistributed.

Its not lost, its spend in other places or is still sitting in peoples accounts.

I'd never actually thought of that before, but you're absolutely right. There's an interesting article over on hoopsworld about this issue, and it makes the very good point that if the money is simply redistributed to other things, then why did politicians give money to fund arena's? I think they got conned. What amazes me is why only Memphis are taking legal action vs the owner- if some of the other states took action then they might pressure the owners a bit more into ending the lockout.

If the owners pay the rent, or its in their lease that they don't have to pay if there is a work stoppage then waddaya gonna do?

Owners in many cases have in part contributed to the arena cost.

Basically what is politition gonna do? National security is not at risk, materials are not at risk, power is not at risk, telecommunications not at risk either. NBA is a discretionary expenditure for entertainment.

Nalod
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11/16/2011  1:56 PM
Markji wrote:
Nalod wrote:
Lost?

More like redistributed.

Its not lost, its spend in other places or is still sitting in peoples accounts.

Advertisers will go elsewhere. Large Corp. season tickets will keep cash on the books or buy gifts for clients. Small biz who buy tickets will also look to other ways to reward best clients.

Joe Sixpack maybe pays down debt then buy tickets.

People will go to other restaurants.

Polititions will get involved when they can look like a hero to their districts. Otherwise they should not interfere with private commerce.

Owners are commited to lease payments that pays the bonds that the taxpayers are bound to.

Don't get me wrong, I feel bad for the small guy who suffers. The beer veners, the restaurants in the area, the catering companies and employees at the Arenas all are taking a big hurt.


Your premise is partly true. Some money will be spent elsewhere, but much or even most (50%) probably won't. For a healthy economy, economists look at the velocity of money, i.e.; how quickly money is turned over. This lockout decreases that by a lot for those cities affected. It hurts the economy and our economic recovery as well as the individual workers.

Of course it hurts!

DurzoBlint
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11/16/2011  2:15 PM
Markji wrote:
DurzoBlint wrote:
Markji wrote:I agree. The small owners have not wanted a season. Period. For political reasons. For financial reason. Because their team stinks reasons. Because most of their players are playing overseas reasons (That's you Denver).

If Obama had any guts he would order the league and players to start playing. Order binding arbitration. Something. The 2 sides are very close if they really wanted a season.

Where are the jobs that the President promised. And Congress as well. There are thousands and thousands of people associated with the NBA season and wanting to go back to work. Instead of just spewing a lot of hot air and rhetoric, do something.

WOW, talk about living in Bizarro World. So, this is a matter that the President of the United States should involve himself in.

Why shouldn't politicians get involved? If it is costing the NBA cities nearly $3 billion. What else are they doing. Campaigning and rhetoric? They are supposed to be creating jobs. That is a top priority in the economic recovery plans, probably of both parties. Well, thousands of people are losing jobs due to the lockout. Should we just feel sorry for them. We can go on forums and write what a shame it is that they are losing their income and/or jobs.

Or someone can do something about it. Someone with power and those are the politicians. Or is it just rhetoric that they want to get people back to work?

My only comment about my "Bizarro World" is what have YOU done lately to help correct some of the major problems in this country.
(P.S. - I did vote for Obama.)

got no problem with politicians in general but you were calling out the President to do something. No need to use a bazooka when a gun will do. This is not about creating job...those jobs will still be there and those rooks waiting in the wings will be duly employed so your argument for him to get involved in flawed.

the fact that you can't even have an unrelated thread without some tool here bringing him up make me think that rational minds are few and far between. Bunch of emotionally weak, angst riddled people. I mean, how many times can you argue the same shyt
DurzoBlint
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11/16/2011  2:18 PM    LAST EDITED: 11/16/2011  2:22 PM
to answer your question of what have I done to improve the world....I work and feed my family. I educate my children and teach them manners, etiquette and how to conduct themselves in public. I work for a college and I help young people on an almost DAILY basis. I do what I can in my sphere of influence but that is question you should not ask me but ask yourself. Ranting on this message board isn't helping anything.

edit: saying your ranting was too harsh but you do come across as a bit stressed.

the fact that you can't even have an unrelated thread without some tool here bringing him up make me think that rational minds are few and far between. Bunch of emotionally weak, angst riddled people. I mean, how many times can you argue the same shyt
BasketballJones
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11/16/2011  7:00 PM
Why does Obama hate the NBA? Is it because he was born in Kenya?
https:// It's not so hard.
martin
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11/16/2011  7:24 PM
BasketballJones wrote:Why does Obama hate the NBA? Is it because he was born in Kenya?

it's cause he's a socialist

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ItalianStallion
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11/16/2011  11:03 PM
I don't think the lockout is going to have much of an impact on the economy. It will definitely impact people that would otherwise be working and the restaurants near the arenas etc... But the fans that go to the games will wind up spending all that money somewhere else anyway and someone else will do better. Some will go to an extra hockey game. Some with go to the new Aqueduct casino and get dinner and gamble etc... In every city there are entertainment alternatives.
Cities losing Hundreds of Millions of Dollar$ due to NBA lockout

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