During last Thursday's hearing, Will Haddeland (co-chair of the task force) asked Bell this same question, and added an anecdote to lend interesting comtext to it all. Haddeland quoted the following:
"Anyone who quotes profits of a baseball club is missing the point. Under generally accepted accounting principles, I can turn a $4 million profit into a $2 million loss, and I can get every national accounting firm to agree with me." -- Paul Beeston, former Vice President of Baseball Operations for the Toronto Blue Jays and current President and Chief Operating Officer of Major League Baseball Haddeland then expressed hope that baseball would open its books to Congress to help settle the debate. Bell replied that Beeston's comments were unfortunate and misguided, arguing that baseball's losses are real and ongoing. He then said MLB met recently to discuss ongoing loans to support MLB. One line was telling, perhaps moreso than Bell intended: "I've been going to these (loan) meetings for 15 years. For the first time, the bankers came and said 'Enough is enough.'" If baseball is losing so much money that the bankers won't back it anymore, why should we? I hope we can find a solution that lets us keep the Twins, but a stadium carte-blanche won't cut it. Baseball needs some serious reform, no matter which city it's in. Dana Bacon Page neighborhood --- Walt Cygan <[EMAIL PROTECTED]> wrote: > Forbes estimated that 20 of 30 made money last year > for a total profit of $150 > million. Selig said that 25 lost money this year for > a total loss of $500 > million. What are we to believe? __________________________________________________ Do You Yahoo!? Buy the perfect holiday gifts at Yahoo! Shopping. http://shopping.yahoo.com _______________________________________ Minneapolis Issues Forum - A Civil City Civic Discussion - Mn E-Democracy Post messages to: [EMAIL PROTECTED] Subscribe, Unsubscribe, Digest option, and more: http://e-democracy.org/mpls
