Showing posts with label economy. Show all posts
Showing posts with label economy. Show all posts

Monday, April 20, 2009

Monday, March 23, 2009

Expanding sports betting

Right now, if you want to place a legal bet on an NCAA game you've got to be in Vegas. But thanks to the economic collapse, a legislator is trying to break the monopoly LV has on sports betting.

TRENTON, N.J. (AP) — From March Madness brackets to Super Bowl pools to illicit back room wagers, people bet on professional sports games every day. But they can do it legally only in four states, and only two states currently offer state-sanctioned sports wagering.
With Atlantic City casinos in a financial free fall and New Jersey's budget in shambles, a state lawmaker filed a federal lawsuit Monday against the Justice Department that seeks to overturn a U.S. ban on sports betting. The casinos and their political allies say letting people bet legally on sporting events would let all 50 states in on a lucrative revenue source.


Lawsuit seeks to allow sports betting nationwide

Thursday, March 19, 2009

Friday, March 13, 2009

Many Americans wouldn't miss local newspaper

Maybe I should quit reading journalism Web sites, the news is just too depressing.

As many newspapers struggle to stay economically viable, fewer than half of Americans (43%) say that losing their local newspaper would hurt civic life in their community "a lot." Even fewer (33%) say they would personally miss reading the local newspaper a lot if it were no longer available.


http://pewresearch.org/pubs/1147/newspapers-struggle-public-not-concerned

Stewart vs. Cramer

And in a TKO, Stewart wins. Especially after showing old video of Cramer admitting to SEC violations while running a hedge fund.

Jon Stewart and Jim Cramer: The Extended Daily Show Interview

Stewart might be a comedian, but he can bring a heck of a fast ball when he wants/needs it.

Thursday, March 12, 2009

From two to one to none

NYT on the future of newspapers in major cities. Hopefully, it won't trickle down to small markets like Fort Smith.

“In 2009 and 2010, all the two-newspaper markets will become one-newspaper markets, and you will start to see one-newspaper markets become no-newspaper markets,” said Mike Simonton, a senior director at Fitch Ratings, who analyzes the industry.

Many critics and competitors of newspapers — including online start-ups that have been hailed as the future of journalism — say that no one should welcome their demise.

“It would be a terrible thing for any city for the dominant paper to go under, because that’s who does the bulk of the serious reporting,” said Joel Kramer, former editor and publisher of The Star Tribune and now the editor and chief executive of MinnPost .com, an online news organization in Minneapolis.

“Places like us would spring up,” he said, “but they wouldn’t be nearly as big. We can tweak the papers and compete with them, but we can’t replace them.”


For Papers, A Downsizing Becomes a Flood

Wednesday, March 11, 2009

Growth or Virtue?

I stumbled across a Web site called FrontPorchRepublic.com recently. (Nash, I think you'd like it. It preaches fiscal conservatism without all the culture wars stuff of the GOP.)

Anyway, I thought a blog post today was pretty good.

If the ideal of perpetual economic growth requires a perpetually frenzied consumerism, it is time to consider a different indicator of economic health. President Obama’s stimulus package is clearly based on this false ideal of perpetual economic growth. This ideal is embraced by the leaders of both political parties, even as the Republicans reject the specific means to that end. As the slurry of dollars begins to wash over us, many Americans are looking for a new direction. A return to the virtues of self-control and thrift would signal something really radical. So would a return to the idea of sustainability, a return to the belief that conserving for future generations is our first duty, and a recognition that putting aside idols is the first step to wisdom.


http://www.frontporchrepublic.com/?p=1294

Tuesday, March 10, 2009

Two sad stories about bars

I love bars. Don't get to go to them these days, thanks to the baby, and I miss it. It's not the drinking because you can do that at home much cheaper. It's the social atmosphere. It's the laughter. It's the people watching. It's the "Holy crap, I've not heard that song in forever" when the jukebox plays.

That's why the next two links make me a little sad.

At Boston's Bull & Finch, aka Cheers, Eddie Doyle was downsized by the owner. SK, I expect a full newsteam investigation into this travesty ...

After 35 years, a legendary Boston bartender is fired

And in the NY Times, there's a story about traditional Irish pubs dying, even in Ireland. And by traditional Irish pubs, I don't mean the TGIF-ified chain pubs here in America ...

In Search of a Pub

Update: Found another bar story on the NYT Web site. This one is about bars in NYC that don't have TVs.

The Few, the Proud: Pubs That Still Resist the Pull of the Television Screen

Thursday, March 5, 2009

Jon Stewart on Rick Santelli's rant

I'm sure you've seen Santelli's CNBC rant about the buyouts and stimulus packages. Here's Jon Stewart's response ...

Friday, February 27, 2009

The final RMN

Click on the photos to see the whole thing ...



Thursday, February 26, 2009

Rocky Mountain News - RIP

The oldest newspaper in Colorado will publish a final edition on Friday, and then shut the doors. Denver will now become a one-newspaper town.

This is a newspaper that was named one of the top 10 sports sections in America by the Associated Press Sports Editors on Tuesday. But less than 24 hours later, the publisher announced the paper was shutting down.

I hate this business. I love newspapers. I love reading them. I love writing and I even love editing. I love journalism. And I love reporting. But the business of newspapers is soul crushing.


Wednesday, February 25, 2009

What I should have blogged about

Here are the top 5 things I should have been blogging about during my hiatus ...

5. Goofy things I find on the Internet

Like sweet-tea flavored vodka. Or the coyote who got on an airport light rail shuttle. 

4. The economy

And how newspapers are cratering around the nation. Every other industry is getting federal bailout funds, why not newspapers?

3. The Steelers

Another Super Bowl victory should have given me license for dozens of posts about the Black & Gold.


2. My grandmother

Her death was pretty traumatic for me. Not because it was unexpected, she'd been in poor health for years and years. Instead, it was because I'd gone so long without a death in my immediate family. My paternal grandfather died before I was born. My paternal grandmother died in 1992. Both maternal grandfathers (biological and step) are still alive. A couple of uncles died in the meantime, but it was nearly 17 years between deaths in my direct bloodline.

On top of that, my grandmother helped raise me. I spent a lot of time at her house when I was a kid. Summers and after school and every Sunday after church for more years than I can remember. She was a constant in my life.

I'm glad she held on until Paige was born. I'd have been heartbroken if she didn't get to see her great-granddaughter. 

1. Paige

OK, I know I said I don't want to become one of those parents who talk about their kid constantly. But, seriously, she's the No. 1 thing in my and Jen's life right now. Everything else fades into the background thanks to her.

Tuesday, November 11, 2008

Stardust's revenge



Somehow, I missed this back in August. Boyd Gaming, the company that imploded the magical Stardust Hotel and Casino to build a mega-resort that none of us could afford, has stopped work on the project due to the poor economy.

As much as I hate the economy being in the dumpster, it serves Boyd right for destroying a Las Vegas landmark that was home to several Party Squad vacations.

Boyd Gaming suspends construction work on Echelon project

Thursday, October 30, 2008

Sacked by the Market

OK, this left an empty feeling in my stomach ...

An adviser says Dan and Art Rooney are making progress. But even if they do manage to cobble together a deal, hurdles remain. Three-quarters of the league’s 32 teams would have to approve a transaction. While every owner admires the Rooneys, not every one is likely to back a highly leveraged sale of a Rust Belt franchise in the teeth of a recession in advance of an expected labor showdown in 2011.

So the Steelers and the league are left attempting, in the words of one lawyer involved, “a high-wire act in an alternative universe.” There are the N.F.L.’s rules. There’s the economy. There’s the powerful history. And there’s the family itself. The five Rooney brothers have 29 children to account for, not to mention an identity wrapped up in the franchise. For proof, try lifting “Ruanaidh” (Gaelic for Rooney), a family memoir that Art Jr. self-published earlier this year. The book runs 483 pages, or some 400,000 words.

“Your emotions are, You never want to get out of the Steelers,” Art Jr. told me a few weeks after the September conference call. “But you know the facts. The grim reaper is right down the street.”



http://www.nytimes.com/2008/11/02/sports/playmagazine/112colbiz.html?_r=1&oref=slogin&ref=sports&pagewanted=all