Friday, January 27, 2006
The Market Chat Continues
Gotta hand it to the Trib. After four consecutive closes setting a new 52-week low, the stock is up today. Perhaps it’s because of what some major media companies are doing. Look at this.
A major media company is selling its consumer "venue entertainment" division in an effort to focus on core operations.
It’s also interesting that Dan Snyder of the Washington Redskins is prominently mentioned. Why would a sports team owner have interest in an entertainment industry that determines its success by improving the quality of its venues and attracting people to go through the turnstiles? Oh, you mean amusement parks and sports teams have a lot in common?
CBS is exiting consumer "venue entertainment." Crains reported that the Trib could do the same.
It's clear to everyone outside of those that bleed Tribbie ink that the groundwork for a sale of the Cubs is being laid.
Oh, and to the idiotic question that I'm sure someone will ask: "How do we know a new Cubs owner won't be worse than the Tribune?"
How COULD a new owner be worse? In 24 years of ownership, the Cubs have had six general managers (Dallas Green, Jim Frey, Larry Himes, Ed Lynch, Andy MacPhail and Jim Hendry). The Cubs have had 16 field managers (Lee Elia, Charlie Fox, Jim Frey, John Vukovich, Gene Michael, Frank Lucchesi, Don Zimmer, Joe Altobelli, Jim Essian, Jim Lefebvre, Tom Trebelhorn, Jim Riggleman, Don Baylor, Rene Lachman, Bruce Kimm, and Dusty Baker). They have posted teams that have won 3 division titles, and 1 wild card. They have 8 winning seasons and 16 losing seasons including 6 seasons with 90 or more losses.
Under the Trib, the Cubs have failed to make the playoffs at an 83% rate, they have had massive instability in the front office, massive instability in the field management, and a thin pipeline of future talent.
What could a new owner do that's worse?
Yeah, being afraid of the devil you don’t know is such a concern when the devil you know has his pitchfork in your sphincter.
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