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Romney’s Offshore Investments Revealed

by APThe Huffington Post on January 18, 2012

Huffington Post…

GOP presidential candidate Mitt Romney holds millions of dollars in offshore investments, a new report from ABC News finds. While it is unclear whether any of the investments provided specific personal tax benefit to Romney — a possibility that his camp has explicitly denied — the report nonetheless adds further support to an ongoing narrative that the presidential hopeful stands on a financial plane reserved only for the top flight of the elite. According to ABC News, Romney, a former executive at private equity firm Bain Capital who is projected to be worth upwards of $250 million, holds around $8 million of his personal wealth in as many as 12 funds based in the Cayman Islands. Romney also lists a separate investment, valued between $5 million and $25 million, placed on the same Caribbean island chain. ABC News reports that Bain holds some 138 shrouded offshore funds in the Cayman Islands alone. Romney’s campaign has maintained that such behavior is not unusual, and that Romney himself has paid all the appropriate U.S. taxes on his holdings within the accounts. From ABC News: Tax experts agree that Romney remains subject to American taxes. But they say the offshore accounts have provided him — and Bain — with other potential financial benefits, such as higher management fees and greater foreign interest, all at the expense of the U.S. Treasury. Rebecca J. Wilkins, a tax policy expert with Citizens for Tax Justice, said the federal government loses an estimated $100 billion a year because of tax havens. Reuters reported earlier Wednesday that Bain also held accounts harbored in places such as Bermuda, Ireland and Hong Kong, which could lead to further questions about Romney’s personal involvement in these holdings. Andrea Saul, a spokesperson for the Romney campaign, pushed back quickly after the ABC News report, taking exception to their characterization of the investments as “tax havens.” “ABC is flat wrong. The Romney’s investments in funds established in the Cayman Islands are taxed in the very same way they would be if those funds were established in the United States. These are not tax havens and it is false to say so,” she said in a statement. Romney has come under increasing scrutiny this week after first dancing around a question about his intent to release his tax returns at a debate, then dealing himself a one-two punch by announcing that he had paid “closer to the 15 percent rate” in taxes while simultaneously downplaying $374,327 in speaking fees as “not much.” On Wednesday, New Jersey Gov. Chris Christie (R), one of his supporters, encouraged him to immediately release his returns to prove that nothing is amiss.

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Romney’s Offshore Investments Revealed

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Occupy Wall Street Protests Heat Up In Texas, Oregon

by AP on October 31, 2011

Huffington Post…

PORTLAND, Ore. — Dozens of anti-Wall Street protesters were arrested Sunday in Texas, where they clashed with police over food tables, and in Oregon, where officers dragged them out of a park in an affluent neighborhood. In New York and many other East Coast cities, it was a snowstorm that was making it difficult for demonstrators to stay camped out in public places. The “Occupy” movement, which began six weeks ago in lower Manhattan to decry corporate influence in government and wealth inequality, has spread to cities large and small across the country and around the world. Demonstrators have spent weeks camped out in parks, wearing at the patience of city officials – even those who have expressed some level of support for their cause. In Portland, Ore., police have allowed protesters to sleep in two parks surrounded by office buildings despite policies outlawing camping, but Mayor Sam Adams warned demonstrators last week that he would not allow them to take over any more parks. Late Saturday, hundreds of protesters gathered in another park – Jamison Square in the wealthy Pearl District – and defied a midnight curfew. About 30 people who had decided to risk arrest sat on the ground as other protesters walked around them and chanted “Whose Park? Our Park!” and “Make No Arrests.” When police moved in around 2 a.m., all but the sitting protesters backed off. An Associated Press photographer said most of those protesters went limp and were carried or dragged away by police. There was no violence during the arrests, which took about 90 minutes. The protesters – all appearing to be in their 20s and 30s with many wearing Halloween-style face paint – were handcuffed and taken away in police vans. “We are the 99 percent,” one arrestee continued to chant. Police said the arrests were made on charges that included criminal trespassing, interfering with a police officer and disorderly conduct. Some protesters said they wanted to camp in the Pearl District because they view its residents as part of the wealthy demographic they’re protesting. Commissioner Randy Leonard had urged them to reconsider, saying in a letter that it would be inappropriate to expand the demonstration into a neighborhood park. “We – the entire city council – are your friends … at present,” Leonard wrote. “However, our friendship and support are now being unreasonably tested by the decision to occupy Jamison Square.” Police in Austin, Texas, made 39 arrests early Sunday as they moved to enforce a new rule banning food tables in the City Hall plaza where protesters have camped out. Some protesters surrounded the tables with arms linked. Most were charged with criminal trespass, Police Chief Art Acevedo said. No injuries were reported. Protesters had been advised of the food table ban on Friday, Assistant City Manager Michael McDonald told the Austin American-Statesman. “We want to facilitate their activities,” he said, “but we can’t allow this to be a permanent campsite.” Some protesters found the ban arbitrary. “On a night where there are hundreds of drunks driving around town, they have all these resources here to take down three food tables,” protester Dave Cortez told the newspaper. Protesters in California, Georgia and Colorado also have been arrested over the last several days. In Tennessee, Republican Gov. Bill Haslam’s administration sent state troopers to haul away Occupy Nashville protesters Thursday and Friday for violating a park curfew, but none were jailed. A local official, Night Court Magistrate Tom Nelson, refused to sign off on the arrest warrants, saying state officials have no authority to set the curfew. On Saturday night, protesters prepared for a third night of arrests but were greeted by only a single trooper on patrol who made no move against them. Safety Department spokeswoman Jennifer Donnals would not say whether the troopers plan to continue the arrests, saying only, “The curfew remains in effect and we urge the protesters to adhere to it.” New York’s Democratic Gov. Andrew Cuomo has been similarly thwarted by local officials in Albany, where Occupy protesters have pitched tents in a city park across the street from the Capitol. Cuomo reportedly asked Albany Mayor Jerry Jennings last weekend to begin enforcing the park’s 11 p.m. curfew. Jennings declined; he told the New York Post, “My counsel said we’d be opening ourselves up to civil liability if we forced them out.” In Britain, clergymen and demonstrators held talks aimed at avoiding a violent confrontation over a protest camp outside London’s iconic St. Paul’s Cathedral. Both the church and the local authority, the City of London Corporation, have launched legal action in the hope of clearing scores of tents from a pedestrianized square and footpath outside the cathedral, which is close to the London Stock Exchange. The protest forced the cathedral to close for the first time since German planes bombed the city during World War II, but it reopened Friday after a week. Britain’s High Court will decide whether to authorize authorities to forcibly clear the camp. Many expect the process to be lengthy and complex. In lower Manhattan, police have not attempted to evict people who have been camped out in Zuccotti Park since Sept. 17, but they recently took away the demonstrators’ generators and fuel, saying they were a safety hazard. In a letter to the fire department, attorneys associated with the New York chapter of the National Lawyer Guild said the seizures were only a pretext for “freezing out” the activists. A nor’easter buried parts of the Northeast in up to 2 feet of snow Saturday. There was far less snow than that in New York, but it quickly turned to a miserably cold and wet slush. At least a few protesters left. Nick Thommen, a 6-foot-4 former Marine who served in Iraq and war-torn regions of Africa, gave fellow protesters lessons on how to endure the rough conditions. “I’m fine here – we trained for months in Norway,” he said. But he said less experienced protesters could easily get hypothermia or frostbite. “I went around waking people up and telling them they have to move – do jumping jacks, or anything,” he said. Though far from the nor’easter, Des Moines, Iowa, also was getting uncomfortable for protesters, with overnight temperatures dipping into the low 30s. Protesters in Stewart Square have bundled up in coats, hats and gloves, and some have surrounded their tents in layers of cardboard, hay bales and trash bags filled with leaves. “I’m equipped to be out here however cold it gets, whether it’s 20 degrees above or 20 below,” protester Bill Lewis said. ___ Associated Press writers Travis Loller in Nashville, Tenn., David B. Caruso and Verena Dobnik in New York, Michael J. Crumb in Des Moines, Iowa, and Terrence Petty in Portland, Ore., contributed to this report.

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Occupy Wall Street Protests Heat Up In Texas, Oregon

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Charles Gasparino: Jon Corzine’s Lesson for Wall Street Risk Takers

October 28, 2011

Under normal circumstance the travails of a mid-sized brokerage firm like MF Global shouldn’t be receiving this much attention, particularly when reporters have so many drugged-up hippie Wall Street protesters to interview down at Zuccotti Park. But MF Global — which is unlikely to survive through the weekend, at least in its current form — is no ordinary firm and the tale of how it became the latest casualty of mindless risk taking is something that every risk taker on Wall Street could learn from. It begins in March of last year when former Goldman Sachs chairman, Jon Corzine, decided he had enough of New Jersey politics and decided to jump back into the Wall Street game. Times have certainly changed since Corzine was one of the street’s top executives. He left (he was actually booted) from Goldman in 1999 after the firm made a series of bad bets on his watch tied to the money-losing trades of the faltering hedge fund, Long-Term Capital Management. The LTCM fiasco was big enough that it affected every major Wall Street firm and required a government bailout to save the financial system, or so we were told (sound familiar?). But it also occurred in the middle of the technology bubble that showered huge profits on the banks and made Corzine a millionaire 500 million times over. Corzine’s reputation should have been in tatters; by the end of his days at Goldman, Corzine was regarded as a lousy manager, a poor judge of risk and the reason why Goldman had to delay plans to convert from a partnership to become a public company. But he used his winnings to finance a career in New Jersey politics, first being elected as US senator and later as the state’s governor. Meanwhile, the man who booted Corzine from Goldman, Hank Paulson, went on to become Treasury secretary during a period of risk taking unprecedented in modern financial history. And you know how this story ends: The financial crisis of 2007 and 2008, where massive losses tied to housing debt caused the demise of Bear Stearns, Lehman Brothers and nearly every surviving firm before Paulson arranged for the mother of all Wall Street bailouts. With that came a wave of regulation to reduce risk-taking. In many cases, firms simply decided the downside of losing big bucks and going out of business wasn’t worth the occasional big score, so they began to reduce risk on their own. But Corzine was clearly asleep during much of the risk-taking years, not to mention the fallout that occurred after the financial system imploded (If you live in New Jersey and witnessed how badly he ran the state, you’ll know when I mean). When he took over at MF Global, he vowed to run the firm as if the financial crisis didn’t happen. First he threw out the playbook developed by his predecessor Bernie Dan, who was rebuilding MF Global after a trading scandal by cracking down on risk. Under Dan, MF Global would return to its roots as a broker, mainly for commodities, earning fees to execute business on behalf of others. The firm was achieving some degree of success as well. Its balance sheet was clean and some on Wall Street said it was poised to begin earning modest profits. But put a clean balance sheet in the hands of someone who saw the financial crisis as nothing more than a passing storm, and you know what happens. Within minutes of taking the job Corzine began boasting that he was building a mini-Goldman, as he sought to emulate Goldman’s business model of taking enormous bets in various markets. There was just one problem with that strategy: it’s prone to error. Even the best traders like those at Goldman screw up, as the events of 2007 and 2008 demonstrate. Corzine isn’t close to being among the street’s best traders. so he didn’t waste any time screwing up. Less than a year after taking the job, he and his traders made a calculated bet that Europe wasn’t the basket case that we now know it truly is. His traders bought more than $6 billion sovereign debt most of it issued by Italy and Spain, the two countries that are now replacing Greece in the likely to default department. With that, Jon Corzine gambled away MF Global, which is now in a mad dash to sell parts of itself while it moves closer to liquidation, Lehman style. Hundreds of people will likely lose their jobs in the aftermath, which is sad since most have nothing to do with the part of the firm that’s causing the problems. Meanwhile, anyone dumb enough to buy Corzine’s plan to remake MF Global into Goldman Sachs will lose most if not all of their investment, though analysts tell me those investors want blood and will likely sue Corzine and MF Global when the dust begins to clear next week. It seems that offering documents for a bond deal issued this summer by the firm didn’t really mention the size and scope of the MF Global’s sovereign debt holdings, so investors will likely make the case that they were misled into think Corzine was running a firm with a clean balance sheet, even if it was neck-deep in the Euro morass. There is some good news to report: MF Global won’t be bailed out by the federal government, and will likely fail. Unlike Corzine’s old firm, MF Global isn’t big enough to be “systemically important” to the nation’s economy and the financial system And when it does fail, it will finally end the Wall Street career of Jon Corzine, and finally prove that there are consequences to idiotic risk taking.

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Herman Cain Likened To Hillary Clinton In Harsh Attack

October 28, 2011

Republican presidential candidate Rick Santorum is out with a hard-hitting new ad targeting rival contender Herman Cain on the issue of abortion. “Now, the most troubling news of all is Herman Cain’s newly-discovered pro-choice position on abortion,” a narrator says in the spot, after briefly taking aim at the former Godfather’s Pizza CEO on fiscal issues. “And Cain’s announcement of his pro-choice position certainly hasn’t gone unnoticed. Pro-life leader Alan Keyes called Cain pro-choice and said Herman Cain’s position is the same postion taken by abortion-rights Democrats like Hillary Clinton. Conservative leader Steve Deace described Cain’s position as favoring baby-murder in cases of rape and incest.” Cain recently found himself having to clarify where he stands on abortion after drawing conservative criticism with remarks he made in a CNN interview . “It’s not the government’s role or anybody else’s role to make that decision,” Cain responded when asked to address the issue applied to a hypothetical rape case. “Secondly, if you look at the statistical incidents, you’re not talking about that big a number. So what I’m saying is it ultimately gets down to a choice that that family or that mother has to make.” Cain sought to do damage control on the comments shortly after during an appearance on Fox News. He explained, “Abortion should not be legal, that is clear. But if that family made a decision to break the law, that’s that family’s decision, that’s all I’m trying to say.” Earlier this week, however, Cain said he doesn’t believe abortion should be part of the political discussion. “But my position is real clear and has been consistent, I am pro-life,” he said. The attack ad from Santorum’s campaign features footage of remarks from Cain defining his stance on the issue. “The more we learn, the more concerned we become,” the spot concludes. It’s not the first time Santorum has pounced on Cain on abortion. “As the author of the legislation that banned partial birth abortions forever, I am stunned that someone running for the Republican nomination for president would have this position,” the former senator recently said in a statement. “In fact, Herman Cain’s pro-choice position is similar to those held by John Kerry, Barack Obama and many others on the liberal left. You cannot be both personally against abortion while condoning it — you can’t have it both ways. We must defend the defenseless, period.” Below, video of the ad rolled out by Santorum’s campaign. WATCH:

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Public College Students Going Public With Frustrations At Occupy Wall Street

October 28, 2011

NEW YORK — Wednesday evening, three college students descended on lower Manhattan’s Zuccotti Park with the hope of unfurling their sleeping bags and staying the night. All three men mentioned the rising cost of higher education as their main motivation for leaving the comfort of their own beds to instead pass the rainy night in a show of solidarity with fellow Occupy Wall Street protesters. “Given everything that’s been going on here, I decided there were bigger things at stake,” said Jorge Javier, 22, who majored in history and political science at Lehman College, part of the City University of New York system, before dropping out two weeks ago. He lives in the Bronx. “I decided to leave it all behind. I decided to drop out in solidarity with this movement.” Citing increasing amounts of student loan debt and the skyrocketing cost of tuition , many college students have gravitated toward the Occupy Wall Street movement . Nationwide, an estimated 150 campuses have staged formal protests and walkouts — with additional teach-ins planned for the middle of next week . For students attending public colleges, fears over financing education are particularly acute. A study released yesterday by the College Board found that average costs at four-year public universities have more than tripled over the past three decades. Further, average tuition rates have increased by 8.3 percent just in the last year alone. Public college students living in New York — a city that contains a number of public institutions — are personally flocking to Zuccotti Park to make their demands known and their voices heard. Another student in the group, James Duarte, scoured the overcrowded park for a place to sleep. Nearly a month ago, Duarte joined the movement after tiring of the fight to stay afloat. He’s a 20-year-old junior at the City University of New York. “Every step I take to try and educate myself in this country is a constant struggle. I just wanted to be educated. It shouldn’t be this difficult,” said Duarte, a Bronx native. His mother emigrated to the U.S. from the Dominican Republic in order to make a better life for her family. As her first child, Duarte said he carries the weight of her expectations on his young shoulders. “I need to be the first college-educated person in my family and we’re in this time of crisis,” Duarte said. He didn’t qualify for federal loans and his mother and stepfather both recently lost their jobs, leaving him scrambling. Currently, Duarte works part-time and lives paycheck to paycheck. He wonders: “Where’s the relief?” As a Latino, Duarte said he sees surprisingly little diversity among his fellow Occupy Wall Street protesters. Lately, he dreams of harnessing the momentum from Zuccotti Park and expanding it northward — all the way to the Bronx. “For the first time, we can talk about an Arab spring, a European summer and an American autumn,” Duarte said, his enthusiasm is undiminished despite the threat of cooler temperatures. “We are at the forefront of something. We are at the beginning.” While Duarte and Javier are regulars who visit the park routinely, their friend Brian Aquino sat looking wide-eyed, simply trying to take it all in. Aquino, 22, who is a sophomore at New York City College of Technology, a CUNY school, paid his first visit to Occupy Wall Street on Wednesday night. Come graduation day, he faces more than $40,000 in student loans. Later in the night, all three men participated in a march that snaked through lower Manhattan protesting recent acts of police brutality in Oakland, Calif . Javier said he personally travels to Zuccotti Park to interact with like-minded people and gain inspiration. Javier’s mother moved to New York from the Dominican Republic when she was pregnant with him. While his stepfather is currently unemployed, his mother is a city employee and local grassroots leader who previously ran for elected office in the Bronx . Since both of his parents have college degrees, Javier’s recent decision to drop out has come as quite a shock. Many of his professors are similarly pleading that he reconsider. “It’s been a big issue, to reject this standard that we’ve all been aspiring toward,” said Javier, who took out about $15,000 in student loans to finance his degree. “In comparison to the $200,000 some people are taking out maybe it doesn’t sound like much. But if you don’t have a way to pay for it, you don’t have a way to pay for it. Our system, it is faltering.”

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Soren Petersen: Music Stylist — the Commercial Effect You Can Hear and Feel

October 27, 2011

A soundtrack counts for at least half of the experience in the creation of a commercial and the music stylist is the one responsible for setting the director’s visual universe to music. Creative people often specialize in a narrow field and may possess only rudimentary musical knowledge. Often, a music stylist is brought in to provide relevant, innovative and unexpected music themes and to translate them into powerful tunes that evoke strong emotions in the listener. Jesper Gadeberg, from Denmark, is one of the world’s leading music stylists, assembling commercial soundtracks for firms ranging from American Airlines, Audi and Volvo to Guinness and Absolut Vodka. He developed his passion and knowledge of music while working in a record shop in Copenhagen. Over time, he realized there was a market for locating just the right sounds for commercials. He now specifies sound effects, discovering tracks and brokering deals between producers and artists from around the world, and much of this magic is performed from his beautiful cottage on the Danish coast! In advertising, as in many creative fields, having the best contacts is key. It is very important for major clients to work with those they consider the best of the best. This includes everyone from the director, stylist, prop guy and location scout to the actors and music stylist. The advertising industry has a unique business model since it makes its money by charging fifteen percent overhead when buying slots for commercials in TV, radio and movies. Web-episodes are now popular and the trend is for commercials to become longer and to be based on short fiction format stories. The product is introduced in the beginning and then reinforced by one or more product placements. The creation of a soundtrack begins with the music stylist receiving a reference advertisement and storyboard of the commercial. Ideally, they then present proposals for a soundtrack before beginning to shoot and this is especially essential if the actors need to sing in the commercial. Sometimes the music does not yet exist and has to be created from scratch, while, at other times, musicians can take an existing track and change it to match the envisioned commercial. Commercial soundtracks can be powerful social trend promoters and music stylists can spot promising future bands and help make them famous. A unique commercial for Spanish beer quickly launched a new band to the top of the charts when all summer long, the whole of Spain began humming the song from the commercial. So, as with many other endeavors, being a successful music stylist is about staying in the forefront of your field, doing inspired work and building and maintaining your connections.

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Netflix Stock Plunges On Brutal Earnings Report

October 25, 2011

SAN FRANCISCO — Netflix jolted its shareholders again with a third-quarter financial report that portrayed a company in crisis. The video subscription service’s latest blooper reel, released Monday, included an even larger customer exodus than the company had foreseen after announcing an unpopular price increase in July. What’s worse, the report contained a forecast calling for more defections during the next few months. The backlash will deprive Netflix Inc. of some of the revenue that management had been counting on to finance the company’s expansion plans while it pays higher fees for Internet video streaming rights. The result: Netflix expects to post losses next year when it starts selling its steaming service in Britain and Ireland. The company didn’t offer further specifics besides saying it won’t go into any other overseas markets until it’s making money again. None of the developments pleased Wall Street as Netflix lost more than a quarter of its value after the bad news came out. If that sharp decline holds in Tuesday’s trading, it will mark the first time Netflix’s stock price has fallen below $100 in nearly 14 months. Netflix shares shed $32.01, or nearly 27 percent, to $86.83 in Monday’s extended trading. It’s the latest setback for a former stock market darling whose shares topped $300 just 4- 1/2 months ago. Netflix’s market value had already plunged by about 60 percent, or nearly $9 billion, before Monday’s late sell-off. Netflix lost its luster among consumers and investors by raising prices as much as 60 percent in the U.S. and bungling an attempt to spin off its DVD-by-mail rental service. Raising the prices had to be done, according to Netflix CEO Reed Hastings. He said, however, that Netflix should have taken more time to explain to subscribers that the company needed the money to pay movie and television studios for rights to stream more video over high-speed Internet connections. “We became a symbol of the evil, greedy corporation,” Hastings said in a Monday interview with The Associated Press. “Then we faced a reputational hit that created significantly more cancellations than we anticipated.” The company, which is based in Los Gatos, ended September with 23.8 million U.S. subscribers, down about 800,000 from June. Netflix had predicted it would lose about 600,000 U.S. subscribers in a forecast released last month. Management expects to gain U.S. subscribers in the current quarter, although Netflix didn’t set a specific target. But a substantial number of Netflix’s customers are expected to choose between renting DVDs through the mail, or streaming Internet video, instead of paying for both services. The biggest hit is expected on the DVD side, a service that Netflix has been de-emphasizing to save money on mailing costs as its spends more to license movies and TV shows for its Internet video library. The company expects its DVD subscribers to fall from 13.9 million as of Sept. 30 to as low as 10.3 million at the end of December. Hastings said he expects Netflix’s DVD subscriptions to steadily decline, much like what has happened to AOL Inc.’s dial-up Internet connection service during the past decade as high-speed alternatives became more affordable. Netflix’s streaming subscriptions in the U.S. may rise by as much as 100,000 subscribers in the quarter, according to the company’s projections. The company’s outlook looks even grimmer compared with how rapidly Netflix had been growing. From the end of 2009 through June of this year, Netflix had gained 12.3 million U.S. subscribers – adding an average of 2 million customers every three months. From a financial perspective, Netflix did better than analysts expected in the July-September period. The company earned $62.5 million, or $1.16, per share, in the third quarter. That compared to income of $38 million, or 70 cents per share, at the same time last year. The performance topped the average earnings estimate of 96 cents per share among analysts polled by FactSet. Netflix’s revenue climbed 49 percent from the same time last year to nearly $822 million – about $9 million above analyst estimates. Netflix’s downfall leaves Hastings – the only CEO the company has ever had – in a precarious position. Once regarded as one of the savviest leaders in technology and entertainment, Hastings has turned into a punching bag for frustrated Netflix customers and shareholders. Many of them are still befuddled by his recent decision making. After Netflix’s higher prices kicked in on Sept. 1, Hastings amplified the outrage by outlining a plan to toss the DVD rental business onto a separate website called Qwikster. The split from the Internet streaming service got panned so badly that Hastings reversed course in less than three weeks. “I am not a quitter,” Hasting said Monday after the AP asked him if would heed some investor calls for him to resign. “We made some mistakes, but I think our 10-year track record is extremely positive. We are going to focus on making this a great global streaming business. I am very excited about that.”

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Peter Watson: Diversity – will Business Ever Believe in Change?

October 24, 2011

In the 1987 film The Secret of My Success , Michael J Fox’s character endures a string of knockbacks at interview so by the end of a gruelling day and feeling increasingly desperate he begs: “I can be anything, just give me a chance…” “Can you be a minority woman?” the interviewer replies. While amusing for its comedy timing this is a divisive issue which challenges many of us at a personal level by questioning received wisdom about justice and opportunity. Is the employer’s stance correct? Are arbitrary targets to expand minority groups’ representation within an organisation the only certain method of improving diversity? Do we need to improve diversity at all? Almost 25 years on from Brantley Foster’s fictional escapades in New York, here in the UK boardrooms remain staggeringly male dominated with just 12.5% of publicly owned companies appointing women to director-level positions. This topic has gained traction as recently as 11 October with the UK’s Corporate Governance Regulator updating its Combined Code to include a requirement for those companies to report annually on their boardroom diversity policy, including gender. My own industry, legal services, has similar obligations to face up to over the coming years, after regulators declared us a sector too commonly associated with one that favours privilege and upbringing over the promotion of social mobility. The Solicitors Regulation Authority has now made the active promotion of equality and diversity by Law firms a key principle that they should all abide by. This has led to a stampede of conscience amongst the UK’s largest law firms with many big names publishing their own diversity statistics. While being an immensely noble effort these stats tell us a great deal about what we already knew, that the demographic background, ethnic, gender and disability makeup of a law firm will often reflect a customer base whose circumstances tend to mirror its own – it’s good for business. Our firm has also undergone an exercise to promote diversity for the principal reason that while our practice is broad, we represent working people on a daily basis. Our commitment to them and the laws which protect them from exploitation or prejudice has to be reflected in our corporate makeup. So instead of publishing statistics we looked outside for independent verification of what we were doing. Our regulator offers limited guidance on how law firms should consider operating, and there is no universally recognised accreditation akin to Investors in People, so we enlisted an independent group to interpret our policies in relation to equality and corporate social responsibility. For those of you craving a stat, we have 31 partners and 17 of them are women, so with regards to that particular indicator our equality mission is on target. Nevertheless, providing opportunities for people from disadvantaged backgrounds or with disabilities remains a challenge for us as an employer and requires continual self-analysis in order to justify our policies on recruitment, our ties with educational establishments and myriad other considerations. Received wisdom, and the established way of doing business, are in the context of promoting diversity in the workplace just another definition for prejudice. It doesn’t surprise me that fewer than 15% of FTSE 250 directors are women, nor that 97% of law firm partners are classed as white; what continues to shock me is that so few of us genuinely believe that this will ever change.

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Wendy N. Powell: Job Seekers: 11 Ways to Stand Out in the Sea of Competition

October 23, 2011

Companies report that there are hundreds, if not thousands of candidates for their job postings. More than ever, it’s up to you to figure out how to stand out in the crowded sea of competition. You may meet all of the criteria for selection and get overlooked without any thought. Market yourself with information that says “You can’t afford to pass me up!” The process of searching for jobs is easy enough. You visit job sites, find the jobs you want, send the resume, and you get magically considered for the job. It’s simple enough but your resume goes into an abyss unless you can grab the attention of the company. But, how do you know that you will be seriously considered for the job? And are you prepared to present yourself in the best light? The answer is also simple: dazzle yourself, and unless you dazzle the reviewer, your candidacy will be ignored. 1. Get to know yourself again. Before you conduct a job search, take a long, hard look at yourself again. Chances are your skills have changed. Decide how to impress yourself before you present your skills to prospective employers. Research your field of interest again. Brush up on the competencies of leadership and practice those qualities and become a personal expert. Be prepared to tell employers what you would do to make their job better. Don’t forget, creativity is the number one competency employers look for. 2. Conduct your own personal SWOT analysis to market yourself. To refresh your memory, SWOT stands for your personal strengths and weaknesses, and the outside opportunities and threats. • Make a critical list of your strengths. Don’t expect to do this all in one sitting. Really, think this through. What activities do you enjoy? What do you do well? List your accomplishments that make you the most effective. Can you turn these strengths into possibilities for your personal growth? Take your time and you will reach conclusions that will lead you into your next move. • Your weaknesses are just as important. Again, a critical look at your attributes including the negative ones will keep you away from things you are just no good at. • Perhaps finding and weighing the opportunities are the most difficult. With the current job market with limited career choices, think about your horizons and potential creative opportunities from the pool of your chosen strengths. Keep apprised of the industries that are hiring in the chosen area and be aware of the possibility of relocating. If you want to start your own business, invest with your eyes open wide. • Threats to your success are unfortunately abundant but chose the right direction that keeps you from the areas of no return. Employers are checking you out, you need to check them out too. In an ever-changing workforce don’t get caught behind the times. Spend time on prospective employers’ websites. Research the current challenges of the field and be prepared to discuss your creative approach to problem solving. Ask them about their goals and priorities for the coming year. They like questions that will lead them to see that you are imaginative and eager to problem solve. 3. Scope out your competition. Your competition includes the eager, newly-degreed, the “overqualified” candidates looking to re-position themselves in the job market, and the trainee who is willing to take less money to get the foot in the door. Employers like fresh, contemporary experience. You can glean on to that bandwagon by writing about your fresh knowledge and practice questions you will be asked. Your fresh perspective can come from research. Use the internet to your advantage. Never forget, knowledge is power. Get ahead of the crowd. 4. Become employed Months ago, I lamented about the concerns with employers refusing to consider job candidates that were not currently employed. http://www.huffingtonpost.com/wendy-n-powell/refusing-to-hire-the-unem_b_683634.html This has continued to be a problem for job candidates but you need to make sure you are not in the rejection pile. First of all, become employed… somewhere, somehow. That’s easy enough to say but find a job. Head this barrier off at the pass. It’s an all too common problem. Find local opportunities for temporary or contract work. Volunteer at a local organization that is in the business of your goals or a local charity. It keeps you fresh, not to mention out of the rejection pile. 5. Polish up your references. Look at the bridges that you have not burned and use them to your advantage. Ask former bosses and colleagues to write a letter that describes your strengths. Send them along with your resume. Refrain from writing “references upon request.” Of course you will provide them. But, head them off at the pass by being the pro-active candidate they can’t refuse. 6. Glean on to a former favorite professor of yours. Believe me, we love it when former students return to visit the classroom and ask for career advice and the latest “buzz” in the business. Listen to mentors to be able to discuss the language of the industry. Familiarize yourself with the latest news in your field. You become the source of knowledge that companies need to stay afloat and thrive. Keep that in mind when you are preparing to market yourself. 7. Make a list of the most memorable learning experiences from your education. Don’t lose those thoughts, ever. Think about how you could apply these pearls of wisdom in your job search and in your career. 8. Write an impressive and custom cover letter. There is only one of you but every job has unique expectations. Granted, many employees don’t read them, but many do. Look at the selection criteria on the job posting and address each of the qualifications that you have related to the job. Similar to your opening paragraph on your resume, focus on your accomplished, creative projects. What have you done well, what projects have you successfully completed. Don’t forget, many employers are looking for new blood and new ideas. Tell them what you have done and what you will do for their organization. Focus on your success and good things will happen. 9. Clean up your Facebook page. You may ask, what business is my personal Facebook to an employer? They do look and seek you on social media. Many think it’s illegal. Let me tell you, it is not illegal and companies do their research to look at your personality. If you have pictures of yourself with a lampshade on your head at a party, assume that prospective employers can see it. Be safe, cleanse your social media! 10. Don’t let them see you sweat. Of course you are concerned about the competition but the more prepared you are, the luckier you become. Practice your confidence by rehearsing expected interview questions. Your confidence will grow with your comfort zone. When you dance, the steps you learn become second nature to you and you can concentrate on polish and flair. The same thing applies to marketing yourself. Learn those steps well. 11. Don’t trash your former employer. Oh, you may want to do just that but refrain from complaining at any cost. Despite the fact that the prospective employer may understand your plight, the job search process is not the time for complaining. You may be negative about your experiences and employment status but don’t wallow in it. You need to move on. If you don’t, it shows. One wise recruiter once told me that some of the most successful job candidates circumvent the posting process by contacting the decision makers directly. Find out who heads up the department you want to work for and send your resume and cover letter to that person. What do you have to lose?; A job opportunity? Who wouldn’t want to receive the perfect candidate wrapped up in a bow? Don’t forget, there is life outside of the comfort zone. You actually might like it there and thrive.

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Dorie Clark: How to Market Your Social Marketing Campaign

October 20, 2011

It’s easy for social marketers to assume that promotion is all they need. After all, who disagrees with energy efficiency? Who thinks driving drunk is a great idea? Who would argue that kids should start smoking? But alas, most advocates won’t ever get the chance to test drive a $100 million advertising campaign — and the sad truth is, even if they did, it would almost certainly fail. That’s because if all it took to change behavior was hearing a message, then we’d have world peace. But there are plenty of people who know they shouldn’t eat that donut, or get into that car, or light up that cigarette, but they do it anyway. Behavior change takes a lot more than promotion. In other posts, I’ve discussed how to avoid the most common mistakes in developing a social marketing campaign. Here, I’ll talk about how social marketers can use the legendary “Four Ps” of marketing — product, price, place, and promotion — to get the maximum impact from their campaign. Product According to famed Harvard marketing professor Theodore Levitt, “People don’t want to buy a quarter-inch drill. They want a quarter-inch hole!” It’s too easy for social marketers to get caught up in the most literal definition of product — the shower placards that remind women to do breast self-exams, or energy-efficient lightbulbs that get handed out. That’s great, but far more relevant is what’s called the “core product” — the benefit you’re selling. In business, we often say no one cares about how powerful your blender is — until you explain how many margaritas you can make and how you’ll be the hit of the party. People often aren’t convinced to take action until you paint a compelling picture for them. Being respected, living a green lifestyle, standing up for energy independence — those are all-powerful “products” to sell, compared to the lightbulb or building renovation you might have thought you were selling. Price If things are free or very cheap, people will take action — right? Well, it’s not quite that simple. Pricing is actually rather complex when it comes to social marketing, but it means you have a lot of tools at your disposal. Most simply, you can reduce the price of an item you’d like people to adopt — witness the cornucopia of coupons for compact fluorescent lightbulbs a while back — or give people bonuses for good behavior. You can also (with the help of government or other decision makers) increase the cost of things you’re prefer people stay away from, such as a pack of cigarettes (which, where I live, now costs about the price of a movie ticket). Additionally, there are non-monetary benefits (or costs) you can think about leveraging. Want people to drive more hybrids? Give them a special parking space right by the door. Want more businesses to upgrade the energy efficiency of their buildings? Have the mayor hold a press conference praising their good citizenship. On the cost side, smokers are often subject to great inconvenience, forced to stand 20 or 30 feet away from the entrance of a building, even in inclement weather, if they choose to indulge their habit. Place Place is often overlooked in marketing — but its effects can be profound. Netflix killed the video store industry by providing DVDs by mail (and now via streaming video). Apple revolutionized checkouts by having their sales clerks handle the transaction with portable devices, rather than forcing customers to stand in line at the register. Similarly, think about ways you can leverage place to enhance your social marketing campaign. If something has typically been done in person, can you do it by mail or online — or vice versa? If hours or days of operation have typically been limited, can you extend them to be more accessible to your target audience? Can you employ existing distribution channels (financial advice through barber shops) or make your location more appealing (because a health clinic is scary enough without looking cold and sterile)? Promotion And finally, there’s promotion. Two key questions you’ll want to answer are what channels you should use to communicate, and when you should do it. Mass media — TV, newspaper ads, radio — is the first thing that comes to mind for many people. But, depending on your target audience, it could be a big waste of money. If you’re doing a campaign aimed at small business owners in a particular city, you don’t need to buy a Super Bowl ad that will reach them — and every other person in America. Instead, focus on selective channels like direct mail or online advertising, or — perhaps even better — use interpersonal efforts to create face-to-face meetings or workshops. Don’t kill the mosquito with a sledgehammer; to conserve your marketing budget and attain maximum impact, speak as directly as possible to your narrow target audience. Finally, think carefully about what they read and listen to, and when they do it. A little early market research can help you determine, for instance, whether your business owners are more likely to read emails during the workday (when they’re at their desk) or on weekends (when they have a little more time to catch up). If you’re launching a Bike-to-Work campaign, you might not want to do it in December, and if you want retail businesses to conduct energy efficiency upgrades, you might want to lay off during the week before Christmas. Too many social marketers assume the right tagline or a big billboard campaign will solve all their problems. You know better. Leveraging all “Four Ps” will help ensure your social marketing campaign makes a real difference. Dorie Clark is CEO of Clark Strategic Communications and a frequent collaborator with the energy efficiency consulting firm Serrafix . Clark is the author of the forthcoming “What’s Next?: The Art of Reinventing Your Personal Brand” (Harvard Business Review Press, 2012). She has taught social marketing at Tufts University, and has consulted for clients including Google, Yale University, and the National Park Service. Listen to her podcasts or follow her on Twitter .

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WATCH: Donald Trump On Gaddafi’s Death: ‘Big Deal’

October 20, 2011

Hearing the news of Muammar Gaddafi’s death on Thursday, many American leaders released statements on what the end of the Libyan dictator’s run meant for the world. “The dark shadow of tyranny has been lifted,” said President Barack Obama. “I think people across the world recognize that the world is a better place without Muammar Gaddafi,” said Republican presidential candidate Mitt Romney. But businessman Donald Trump? He needed only two words: “Big deal.” After hearing of the death , Trump, the business magnate perhaps best known for his role on the NBC reality show The Apprentice , took to his webcam for an installment of “From The Desk Of Donald Trump” to discuss the political ramification ( h/t Mogulite ). Trump, who’s recently been labeled the “GOP kingmaker” by the Boston Globe , quickly launches into a criticism of the Obama administration’s decision-making during the Libyan uprising, specifically that the president should have bartered with the rebels for oil pending their victory in exchange for U.S. military support. The Obama administration did officially endorse the primary rebel group, the Transitional National Council, in July , and later pledged U.S. allegiance to the multinational coalition in aid of the uprising. “The rebels would have given us everything if we had some leader who knew how to negotiate,” Trump said in the video. “The rebels were being routed four months ago, absolutely routed by Gaddafi and his men. If four months ago we would have said, ‘We want 50 percent of the oil,’ they would have said, ‘Absolutely, we have a deal. Help us, help us. Please, you have a deal.’” That Trump takes issue with Obama is well documented. In the spring, he demanded that President Obama release his birth certificate . He’s also more recently criticized President for going too easy on the Occupy Wall Street protesters . But “the Donald” has his fair share of history with Gaddafi as well. As Mogulite points out, Trump once bragged to FOX News’ Fox and Friends that he “screwed” the Libyan dictator by renting him a plot of land at a hugely exorbitant rate. “Then I didn’t let him use the land,” Trump added. WATCH “From The Desk Of Donald Trump: Gadhafi”

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If EU Bans Ratings Agencies From Evaluating Bailout Countries, Who Will Investors Turn To For Terrible Advice?

October 20, 2011

The Wall Street Journal reports today that the EU is “leaning toward proposing a ban on the issuing of sovereign credit ratings for countries in bailout talks.” The EU’s internal market commissioner, Michel Barnier, says that he thinks “it’s legitimate to have a special treatment when a country is in negotiation or is covered by an international solidarity program with the IMF,” and, indeed, new IMF chief Christine Lagarde has signaled that she believes it’s appropriate for the EU to “prevent ratings for bailout countries.” As the EU has been “tightening rules on rating agencies progressively since the financial crisis,” according to the Journal , with a new set of proposals on the matter scheduled to be made in early November, odds are decent that this will emerge as the consensus view. However, there are dissenting opinions, and, as Reuters’ Ryan McCarthy points out, they are “hilarious” : “If ratings are banned, it will make it difficult for investors to assess the risk when a country returns to the bond market.” That’s from economist Marchel Alexandrovich, and if you want to know why he should consider taking that act on the road, let’s flash back to this piece from Shahien Nasiripour from September of 2009 — one year after the global financial crisis: Analysts at the three biggest credit rating agencies who gave positive, investment-grade ratings to AIG and Lehman Brothers up until their collapse have not been fired or disciplined, the heads of the agencies admitted at a Congressional hearing today. Moody’s, Standard & Poor’s, and Fitch Ratings all maintained at least A ratings on AIG and Lehman Brothers up until mid-September of last year . Lehman Brothers declared bankruptcy Sept. 15; the federal government provided AIG with its first of four multibillion-dollar bailouts the next day. At the hearing today, the exchange between [Representative Jackie] Speier and the agency chiefs was particularly contentious. “You had rated AIG and Lehman Brothers as AAA, AA minutes before they were collapsing. After they did fail, did you take any action against those analysts who had rated them?” Speier asked. “Did you fire them? Did you suspend them? Did you take any actions against those who had put that kind of a remarkable grade on products that were junk?” McDaniel answered first. “No, we did not fire any of the analysts involved in either AIG or Lehman,” he replied. “LOL,” is what I believe the Internet would tend to say to all of this. The Wall Street Journal reports, “There was no immediate comment from Fitch, S&P or Moody’s.” Yeah, I wouldn’t think so! [Would you like to follow me on Twitter ? Because why not? Also, please send tips to tv@huffingtonpost.com -- learn more about our media monitoring project here .]

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Robert Teitelman: Joe Nocera Reads Since Yesterday

October 19, 2011

In his New York Times column Saturday, Joe Nocera discovers the Great Depression and, as the headline accurately declares, “The 1930s Sure Sounds Familiar.” Well, to Nocera at least. There’s the lousy economy, there’s the Occupy Wall Street movement (the bonus marchers’ Hooverville, says Nocera), there’s Bernie Madoff (Ivar Kreuger), there’s even Casey Anthony (the Lindbergh kidnapping). And, of course, there’s this lurch toward austerity. Nocera seems to get most of this social and cultural parallelism from paging through Frederick Lewis Allen’s popular history of the 30s, Since Yesterday , published in 1940. Anyone who went to school in my era — a long time ago (impossibly long from the perspective of Zuccotti Park) — had to read some Allen, mostly his most famous book, Only Yesterday , about the 20s, in your basic introductory U.S. history class. Allen was a Harper’s editor and one of the earliest “popular” historians, of which we now have an entire industry. He was writing what was later to be called “consensus American history,” rationalizing the disasters and divisions and emphasizing the triumph of an American spirit that transcended class and race — a school that has long been submerged in academia but remains a popular trope. He was also writing while depression still retained its grip, and he was, to say the least, not exactly an expert economic historian. Nocera unerringly reaches for the kind of consensus sentiment that made Allen so popular, if increasingly ignored in academia, “Despite the miseries of the Depression and the recurrent fears of new economic decline and of war, the bulk of the American people had not yet quite lost their basic asset of hopefulness…a nation tried in a long ordeal had not yet lost heart.” One might ask of Allen in 1940: how did he know? Did he ask anyone outside his relatively narrow social set? Or was it just a feeling he had? Allen was, and remains, extremely readable. But in going back to Allen, charming as he could be, Nocera blithely seems to dismiss generations of hard historical labor on Great Depression issues that remain knotty and difficult. Some of these are basic: what were the true causes of the slump? (Ben Bernanke at Princeton did a lot of work in this area .) What role did the Keynesian revolution have on the New Deal? (A lot, but later.) How did we finally slay the beast? (World War II, but how, and why, did it not return?) Scholars have looked at the hard politics of the New Deal and Rooseveltian liberalism; at the fissures and splits within the country and within the New Deal. And they’ve had far more history to explore. Some tremendous work has been done. What happened to the New Deal, and how did that evolution — long after Allen wrote Since Yesterday — alter our view of the 30s? This is particularly the case with a subject Allen has very little understanding of: macroeconomics. (Nocera, in an aside, says that Allen “implicitly” agrees with the notion that FDR — our Obama — should have done more, not less, in terms of government spending. What’s the “implicitly”? Could it be that Allen was really clueless on these matters and would rather write about Hoovervilles and kidnappings?) So why is Nocera turning to Allen? Well, as he writes, it’s “a reminder of why history matters.” The 30s, in short, reminds him of now. But again Nocera gets himself mired in Allen’s soft and taffy-like sociology. Ivar Kreugar might seem like Bernie Madoff, but Kreugar brought down a whole global economic infrastructure, including banks, while Madoff hurt some wealthy investors (and the Ponzi scheme charge, as even Nocera seems to understand, is complicated with Kreugar). It’s a little insulting to the desperate bonus baby veterans in the 30s to compare them with the Occupy Wall Street crowd who have settled in Zuccotti voluntarily and seem to be well provisioned, with lots of social media at hand; the bonus marchers had a very specific set of demands, as well, which certainly isn’t a characteristic of OWS. Nocera also seems surprised that big business did reasonably well in the Great Depression. Well, all things are relative; they did better than smaller businesses that really suffered. But the economy in the 20s had been highly concentrated, far more than today; and that concentration only deepened with the slump and continued into the 50s. Compared to then, today’s economy, for all its problems, is much more dynamic, fluid and balanced between large and small. This was an industrial economy, with enormous economies of scale. Size begat size. Corporate credit was scarce; consumer credit was hard to find and difficult to access; and there was no venture capital, private equity or debt financing with any leverage (although Kreugar’s empire collapsed under vast leverage). Large corporations controlled patents and dominated R&D; there was nothing remotely comparable to Silicon Valley. Entrepreneurs were deeply suspect. In short, the 30s were radically different from 2011 in a hundred different ways. Yes, both periods were shaken up by economic dislocation. It’s not to diminish current woes to say that 9% unemployment is a lot different than 25%, or that a world struggling to cope with a rising China and a splintering Europe is a lot different than one dominated by rising fascism, Nazism and communism. And a world (still) with Social Security, Medicare and Medicaid, not to say bank deposit insurance, is a far cry from one that lacked any safety net to speak of and that was prone to destructive bank runs driven by fear and anxiety. This is the second piece in a week or so in which a Times columnist has tried to ransack the Great Depression for current purposes; David Leonhardt did it last weekend, which I commented on . In both cases, there’s an attempt to create a false equivalence between these two economic dislocations. Yes, it is important to know what’s occurred historically; and it’s vital to see the commonalities. But looking carefully only makes it more difficult to draw easy and simple comparisons. The more you know, the more you realize how foreign is the past, how many differences there are and how uncertain and complex remains the present. And when you turn to a popular book from 1940 to make your case, you’re in trouble.

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Former Mrs. Nevada Used Online Scam to Steal From Thousands Of Americans

October 19, 2011

When Juliette Kimoto took to the stage to accept her crown as Mrs. Nevada in 2006, she seemed an obvious fit for the coveted pageant title. Blond and svelte, the native Nevadan had been married to her high school sweetheart for 12 years. She was a mother of six, an active member of her church, and volunteered to provide “mother-to-mother support to pregnant teens and at-risk pregnant women.” What she declined to mention, however, was that she was also engaged in an online operation that would eventually rob tens of thousands of people of $30 million.

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Your Neighborhood Could Affect Your Health

October 19, 2011

ATLANTA — Back in the 1990s, the federal government tried an unusual social experiment: It offered thousands of poor women in big-city public housing a chance to live in more affluent neighborhoods. A decade later, the women who relocated had lower rates of diabetes and extreme obesity – differences that are being hailed as compelling evidence that where you live can determine your health. The experiment was initially aimed at researching whether moving impoverished families to more prosperous areas could improve employment or schooling. But according to a study released Wednesday, the most interesting effect may have been on the women’s physical condition. About 16 percent of the women who moved had diabetes, compared with about 20 percent of women who stayed in public housing. And about 14 percent of those who left the projects were extremely obese, compared with nearly 18 percent of the other women. The small-but-significant differences offered some of the strongest support yet for the idea that where you live can significantly affect your overall health, especially if your home is in a low-income area with few safe places to exercise, limited food options and meager medical services. “This study proves that concentrated poverty is not only bad policy, it’s bad for your health,” Shaun Donovan, secretary of the Department of Housing and Urban Development. But no one believes the deficit-plagued federal government is going to expand the program and start moving low-income women to better neighborhoods en masse. “It’s not enough to simply move families into different neighborhoods,” Donovan said. Instead, new ways must be found to help families “break the cycle of poverty that can quite literally make them sick.” He did not mention specific proposals. Public health experts have long thought that living in poor neighborhoods could ruin a person’s health, but this study put the idea to a rigorous test. Here’s how it worked: Women believed to be about the same in most respects were randomly assigned to one group or another and then followed through time, in a model customarily seen in pharmaceutical studies. That makes it more scientifically rigorous than most research linking health problems to a social environment. The study’s good design “provides a basis to infer cause and effect” between poverty and bad health, said Dr. Robert Califf, a noted Duke University cardiologist who is leading a massive study on neighborhoods and health outcomes. The research was led by Jens Ludwig, a University of Chicago professor of public policy. It was published in Wednesday’s New England Journal of Medicine. The experiment started as a $70 million HUD project in Baltimore, Boston, Chicago, Los Angeles and New York. It morphed into a health study after a variety of other government agencies and private foundations pitched in with an additional $17 million more. “In terms of scale, it’s not soon or ever to be repeated,” said Dr. Robert Whitaker, a Temple University pediatrician who was a study co-author. The study involved women living in public housing in neighborhoods where 40 percent or more of residents were poor – areas like many of those on the South Side of Chicago or in the Bronx in New York City. The women all had children and were considered heads of households. From 1994 to 1998, nearly 1,800 of them were offered vouchers to subsidize private housing, but the vouchers were only good in higher-income neighborhoods where fewer than 10 percent of the people were considered poor. They were required to live there at least a year. The rest of the women were divided into two groups. One group got vouchers they could use in any neighborhood. The other women did not receive vouchers, with the expectation that they would stay put. Ten years later, women in the study were weighed and gave a blood sample to check for diabetes. The women who moved to richer areas had the lowest rates of extreme obesity and diabetes. The difference suggests that moving to a better neighborhood could help at least 1 in 25 women. Or, in other terms, a person’s risk of diabetes or extreme obesity dropped by about 20 percent by moving to a higher-income neighborhood. (However, even the women who moved were not exactly models of health. About 14 percent of them were extremely obese, which is twice the national average for women.) The study has some notable flaws. Because it did not start out looking at health, the women’s medical condition and weight were not checked at the outset. The researchers believe the women in the different groups were about the same, because they matched up on more than 50 other indicators, such as age, race, employment and education. But that is an assumption. Also, only about half the women offered a chance to move to a more prosperous zip code did so. And many who did move left after a year. What’s more, the study was not designed to answer what it is about more affluent neighborhoods that would cause someone to be healthier. But the authors listed four theories: _ The availability of healthier food is worse in lower-income neighborhoods. _ Opportunities for physical exercise are scarcer, and fear of crime can make people afraid to jog or play in parks. _ There may be fewer doctors’ offices and other medical services. _ The long-term stress of living in such an environment may alter the hormones that control weight. Some of those theories were supported by some women who live in the kind of situation targeted in the study. Vickie Webb lived in the projects in Durham, N.C., for several years before a housing agency helped relocate her and her husband to a better neighborhood. “There was too much violence, too much going on in the `hood. It wasn’t safe,” said Webb, who was not part of the study. Annie Ricks, who lives with her 14-year-old son and two grandchildren in a public housing unit on Chicago’s South Side, was not involved in the study either. But she said efforts like the HUD experiment should be expanded. Local housing authorities paid for her to relocate to the South Side last year as part of its demolition plans for high-rise tenements. But Ricks lost her child-care job after the move, and says her new neighborhood is worse. At her old building, Ricks could walk across the street to a supermarket. In her new neighborhood, without a car, she has to take public transportation to get groceries or go to the doctor, and Ricks says there’s more crime. “I feel like it would be a blessing” to be able to move to a wealthier area, she said. ___ Associated Press writers Alicia Chang in Los Angeles and Lindsey Tanner in Chicago contributed to this report.

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April Rudin: This Is My Detroit — Here’s What The Motor City Means To Me

February 26, 2011

This is the 20th anniversary of my move from Detroit to New York City. I traveled on a one-way ticket from Detroit’s Metropolitan Airport to New York’s LaGuardia airport. I left behind the city that had been my home for my first 30 years. I did not look at what I was leaving behind in Detroit, but I was focused on my future in NYC. The city of Detroit that I left behind 20 years ago was burned out and bruised, and since then, it has declined even further. Brad Anderson recently filmed a movie, “Vanishing on 7th Street,” in Detroit and claimed, “If you are doing an apocalyptic movie, Detroit is the place to go. The streets are devoid of people and the vacant buildings are endless.” In fact, there are no longer traffic reports within the city of Detroit. There are simply not enough cars and people to fill the large geographic expanse that is the City of Detroit. Sadly, I read the negative press as Detroit wrestles with itself to figure out how to reinvent itself through rezoning, bringing in new industries like filmmaking and trying to figure out how to retrain its workforce. It was with much pride that I watched the Chrysler commercial with Eminem during the Superbowl and saw the familiar images of Detroit as they flashed across the screen. The commercial itself was lauded because of its spirit of renewal. But for me, the images of Detroit reminded me of my Motor City soul. Although it was Eminem who first made “8 Mile” widely known, for me that was simply where my grandmother lived; 8 Mile Road is the imaginary dividing line between the city of Detroit and the surrounding northern suburbs. There were some images in the commercial that resonated with me, as they represented my Detroit — for example, frescos from the Detroit Institute of Arts. These famous frescos were created by acclaimed artist Diego Rivera and feature images of Henry Ford, Thomas Edison, Edsel Ford (who commissioned the work) and William Valentiner (Director of the DIA at the time). These men were contemporaries and influential on the artistic, technological and industrial roots of Detroit. Cars define the Motor City, not because Henry Ford invented the car there but rather because he invented the method of efficient manufacturing: the assembly line. His goal was to mass-manufacture and mass-market his cars so that his workers could each drive a Ford car. Although most people know that Detroit has one of the largest Arab populations outside the Middle East, the reason is not widely known. It was Henry Ford who brought them to Detroit: because Muslims did not drink alcohol, they were more reliable as assembly line workers. Growing up in Detroit as the daughter of a Teamster attorney, I was keenly aware of the car/industrial culture as well as the management/labor tension. The Big Three automakers (Chrysler, Ford and GM) were like big battleships, almost unstoppable and unable to easily change course. They were strong and mighty. During the MidEast oil crisis of the ’70s, each of the Big Three automotive companies had two parking lots for their vendors: a near parking lot for those driving American cars, and a far parking lot for those driving foreign cars. The first car that I had was a Plymouth Duster with an awesome stereo and eight-track tape player. This is my Detroit! Another important part of Detroit is the African-American cultural imprint. Detroit was the last stop on the Underground Railroad — the escape route for slaves during the Civil War — before Canada. Many African Americans stayed in Detroit without ever crossing over to the border (the only place where the U.S. is north of Canada.) The Fist of Detroit—”Brown Bomber” Joe Louis’s fist was shown during the commercial. Downtown Detroit is also home to the Joe Louis Arena where the Red Wings play hockey. Another important image in the Chrysler commercial showed a gospel choir, central to the culture in Detroit, from which Motown music was an outgrowth. Aretha Franklin was the daughter of a preacher. Many Motown artists grew up attending large churches with active choirs and were influenced by the music they heard. The original home of Motown Records, “Hitsville USA,” was also located downtown near Wayne State campus. I would drive by it almost every day in my car with my Motown music blaring! The soundtrack of my Detroit years is a combination of Motown music including Marvin Gaye, Al Green, Stevie Wonder, Aretha Franklin, The Supremes, et al . But I also listened to the music of homegrown Detroit Rock ‘n’ Roll artists like Bob Seger, Alice Cooper, Mitch Ryder, Ted Nugent and Grand Funk Railroad. This is my Detroit! There is also the food of Detroit — the longtime rivalry of the next-door Coney Island restaurants: hot dogs with “skin” slathered in “loose” chili, onions and mustard. American Coney Island and Layfayette Coney Island battle today for the top dog and “loose” hamburger (chili in a hamburger bun). In Detroit’s Greektown, you can yell “oompah” to saganaki — cheese grilled in brandy and lit on fire! If you are thirsty, there is the famous “pop” (soda) of Detroit — Vernors Ginger Ale (the oldest soft drink brand in America) and Faygo Red Pop. Or even drink a Stroh’s beer! Also, pizza is a Detroit staple ith two successful chains beginning there: Little Caesar’s and Domino’s. Fondly, I remember going to Sander’s, which was an old-fashioned fountain shop, when I was growing up. Typically, they served water in paper cones that fit into the tin bottoms. Sander’s was famous for their Hot Fudge cream puff! It’s a pastry filled with cold vanilla ice cream and hot Sanders Fudge poured on top! Mmm… and I almost forgot Sander’s bumpy cake — chocolate cake and frosting with “bumps” of buttercream between the frosting and cake! While I was growing up in Detroit, fall meant going to the cider mills for freshly squeezed apple cider and piping hot greasy donuts. You could smell the apples a mile away! Hudson’s (now Macy’s) was my favorite destination for shopping and lunch. Usually on Saturdays, we would go to the mall, Northland Mall (the first mall in the country and the location of my first job!). We would go to Hudson’s for their famous Maurice Salad with its creamy dressing, slivered pickles and turkey. It was often imitated but never duplicated. And then there was the classic Detroit/Chinese dish: almond boneless chicken. I have never seen it served anywhere else except Detroit! This is my Detroit! I could go on and on, but here is a random list of things that I think of in my Detroit: Ambassador Bridge to Canada, going Up North, water skiing on the lakes, the Detroit Zoo, Greenfield Village, ice-fishing in a shanty, tobogganing and sledding, Bob-Lo Island, Tiger baseball and the 1968 World Series, the Detroit Pistons, cruising Woodward Avenue in the summer with the windows down and the music blaring, Hudson’s Thanksgiving Parade, Freedom Festival fireworks, summer nights at Pine Knob open air music theater, Pontiac Trans-Am, the “mile” roads, short humid summers and long snowy winters. This is my Detroit ! For 20 years now, I have been living my life, working in NYC and raising my own children in metropolitan NYC. I have never much thought of myself as an “ex-pat” or what it meant to leave Detroit. Until now.There was something about seeing that commercial that triggered a flood of great memories and nostalgia for my Detroit. I realize that my Detroit lives on in my memory and that the future city will be a newfangled version of what I remember, perhaps even unrecognizable to a former hometown girl. Although they can change the physical borders and the types of industries that support the state, I think that the soul of Detroit will remain. Cue the Temptations’ “I’ll be Doggone” and bring on the Coneys! Let’s sit back and watch Detroit, like its own Tiger baseball team, come roaring back.

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Inder Sidhu: They Might Be Giants: Management Insights From San Francisco’s Boys of Summer

October 28, 2010

” Misfits and castoffs .” That’s what some are calling San Francisco’s surprise World Series contenders, the Giants. After defeating the Philadelphia Phillies four games to two for the National League Championship, the team takes on the Texas Rangers this week in the 104th edition of Major League Baseball’s Fall Classic. Fans in the Bay Area could not be more delighted. This year’s team features a lovable cast of characters with back stories that could have been conjured by a Hollywood screenwriter. Take ace relief pitcher Brian Wilson. He sports a menacing pirates beard, dyed jet black to intimidate opposing batters. Then there’s fastball specialist Tim Lincecum, known as “The Freak” for his powerful arm and boyish looks. San Franciscans have especially warmed to outfielder Cody Ross, the the NL Championship Series MVP. Ross joined the team in mid-summer after being dumped unceremoniously by the Florida Marlins. Instead of sitting home watching TV, he now finds himself starring on it. I could go on, but you get the point: The Giants roster is filled with individuals that other teams either overlooked or did not want. So how did the organization turn them into winners? Simple: it provided opportunities for individuals to shine while building a foundation of cohesive teamwork. While that might sound easy, anyone who has ever managed a team knows it isn’t. In organizations that prioritize the collective, new ideas are often smothered and groupthink frequently prevails. When this happens, individuals lose their drive to aspire for greatness. As a result, mediocrity often settles in. Similarly, organizations dominated by superstars have their own problems. When jumbo-sized egos take over, teams lose their unity and sense of purpose. Without shared organizational goals, individuals focus more on their own glory than on team pursuits. When this occurs, internal strife often results. Giants fans need only think back to the last time San Francisco was in the World Series to be reminded of this. The year was 2002, the height of the Barry Bonds era. Though the all-time career leader in home runs, Bonds is one of baseball’s most polarizing figures. When he was the Giants’ highest paid player, Bonds wouldn’t pose for the team picture or ride the team bus. He had his own trainer, his own chef and his own PR spokesman. Bonds won five MVP awards as a Giant, but he never led his team to baseball’s ultimate prize. To be fair, neither did San Francisco’s more beloved Hall of Fame players, including Willie Mays, Orlando Cepeda, Willie McCovey, Juan Marichal and Gaylord Perry. Try as they might, these legendary superstars could not produce both the team cohesion and individual excellence that the 2010 Giants have. Give credit to team manager Bruce Bochy for doing both . In his four years with the team, he has convinced his players to aim high, work collaboratively and check their egos at the door. Specifically, he has experimented with the lineup, providing an opportunity for different players to have their moment in the spotlight. Take rookie Buster Posey. When first called up from the minors, he played backup catcher. But Bochy convinced the young player he could achieve greatness if he got in better shape and improved on his hand speed. Posey did and worked his way into the starting lineup. After batting .305 for the year, he’s now a candidate for league Rookie of the Year. While inspiring individual performers to aim high, Bochy has also promoted an atmosphere of inclusion and camaraderie. That’s inspired stars such as Wilson to spend more time bonding with teammates. He, for example, is a regular at the dominoes table in the locker room with his teammates. Bochy’s insistence that stat leaders and role players stand together has helped him to make some difficult choices. In the post season, he dropped the team’s highest paid player, pitcher Barry Zito, from the active roster due to inconsistent play. Recognizing that the decision was controversial and could divide team loyalties, the affable Zito stepped up and expressed his support for the decision. ” My heart and soul is in this clubhouse ,” Zito said afterward. “I have no other options in myself than to pull for every one of these guys.” You can bet they remembered his unselfishness as they took the field last night against the Rangers. Superstar performers or team players? In San Francisco, it’s nearly impossible to tell them apart. Managers everywhere should take note. Inder Sidhu is the Senior Vice President of Strategy & Planning for Worldwide Operations at Cisco , and the author of Doing Both: How Cisco Captures Today’s Profits and Drives Tomorrow’s Growth . Follow Inder on Twitter at @indersidhu .

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Boris Briskin, Texas Rangers Fan, Quits Job To Watch Playoffs (VIDEO)

October 27, 2010

The Texas Rangers have reached their first World Series in franchise history and one fan has done everything he could do to see it, even if that meant quitting his job . Boris Briskin, a longtime Rangers fan, quit his job at a law firm in Los Angeles to go see his team make it to the World Series, according to Fox 4 News . “If I wasn’t here right now I would definitely be at work. And if the Rangers weren’t in the playoffs I would not be in Dallas right now,” he said. “It’s the Rangers. I’ve loved the Rangers for so long. They haven’t been to the playoffs since ’99. They’ve gone through so much since then. I really couldn’t miss this.” Briskin also said he is confident he will find another job. Scroll down to watch the video. WATCH: (Via Big League Stew )

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(WSGF) World Series of Golf, Inc. Announces Letter of Intent to Acquire Gaming Entertainment Media

September 2, 2010

LAS VEGAS, NV–(Marketwire – September 2, 2010) –  World Series of Golf®, Inc. ( PINKSHEETS : WSGF ) ( OTCQB : WSGF ) has announced a Letter of Intent (LOI) to acquire Rounder Magazine, a gaming lifestyle magazine distributed to casinos throughout the United States. Last week, World Series of Golf released a Webcast presentation hosted by new CEO Patrick Brown highlighting the Company’s recently filed second quarter results, newly updated business plan and upcoming planned events such as a World Series of Golf revival tournament in Las Vegas this November as well as the plans to acquire Rounder Magazine. The Webcast further discusses the Company’s intellectual property and patent application and is available now for on-demand review at www.worldseriesofgolf.com .

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Reid Got Christmas-Eve Lift to West Coast on Feinstein Husband’s Airplane

June 17, 2010

By James Rowley June 17 (Bloomberg) — Senate Majority Leader Harry Reid hitched a ride to the West Coast on a private jet owned by Senator Dianne Feinstein ’s husband after the Senate passed a version of health-care legislation last Christmas Eve, according to Reid’s financial disclosure form. Predictions of stormy winter weather prompted the Senate to conduct an early morning vote on the bill Dec. 24 to give lawmakers as much time as possible to travel to their home states for the Christmas holidays. It was the Senate’s first Christmas Eve session held to pass legislation since 1963, according to the Senate historian’s office. Reid, a Nevada Democrat, and Senator Barbara Boxer , a California Democrat, flew to San Francisco aboard a Gulfstream jet owned by Feinstein’s husband, Richard C. Blum , chairman of Los Angeles-based CB Richard Ellis Group Inc., said Gil Duran, a spokesman for Feinstein, in an e-mail. Feinstein, a California Democrat, also was on the flight, her husband wasn’t, Duran said. Reid and Boxer reported receiving their gifts of free transportation, which they valued at $3,625, on the annual financial disclosure forms for Senate and House members that were released yesterday. Such gifts must be listed on the form. Both lawmakers stated that the flight’s value was “determined in consultation with the ethics committee staff.” Boxer, 69, chairs the Senate ethics panel. Invitation Offered As bad weather interfered with commercial air traffic to the West, Reid accepted an invitation from Feinstein, 76, to fly on the plane, said Jon Summers, a Reid spokesman. The flight left Washington immediately after the Senate vote, Summers said. A final version of the health-care overhaul measure cleared Congress in late March and was signed into law by President Barack Obama . Reid, 70, who reported a net worth of at least $1.56 million to $3.6 million, flew by commercial airliner to Reno, Nevada, where he spent Christmas with his wife, Landra, and their son’s family, Summers said. Besides chairing the Los Angeles-based real-estate services firm, Blum, 74, is chairman of Blum Capital Partners LP , an investment management firm based in San Francisco. Pelosi’s Husband In other disclosure statements released yesterday, House Speaker Nancy Pelosi reported that her husband, San Francisco real-estate investor Paul Pelosi, sold as much as $25 million of his holdings in Apple Inc. during an eight-month period when the shares almost doubled in value. He made a capital gain of between $1 million and $5 million. The closing price of Apple shares was $123.40 on April 20, 2009, the day Pelosi first sold the stock, and was $211.61 on Dec. 28, the last day he sold Apple. The speaker reported that her husband still owned as much as $5 million worth of Apple stock at year’s end. Nancy Pelosi, a California Democrat and author of “Know Your Power, A Message to America’s Daughters,” reported earning $102,161 in book royalties. Senator John Ensign , a Nevada Republican, received between $100,000 and $250,000 as partial payment for the veterinary practice he sold after being elected to the Senate. House Financial Services Committee Chairman Barney Frank , a Massachusetts Democrat, received round-trip airfare to Los Angeles, a hotel room and meals for a May appearance on comedian Bill Maher ’s television show. Milwaukee Bucks Wisconsin Democratic Senator Herb Kohl , owner of the Milwaukee Bucks basketball team, holds his assets in a blind trust worth more than $50 million. The trust earned more than $5 million last year. Representative Leonard Boswell , an Iowa Democrat, made between $50,000 and $10,000 selling calves for breeding. Representative Sam Graves , a Missouri Republican, sold a 1967 Piper Cherokee airplane for between $15,000 and $50,000. Senator Orrin Hatch , a Utah Republican, reported almost $12,000 in book and music royalties. Other authors included Senators Jim DeMint , a South Carolina Republican, who received $42,500, the second half of a book advance, and Byron Dorgan , a North Dakota Democrat, who received a final payment of $29,750 for his book. Kentucky Republican Jim Bunning , the only U.S. senator in the Baseball Hall of Fame, earned $18,000 for appearances at baseball card shows and received Senate Ethics Committee approval to accept a $12,300 ring from his former team, the Philadelphia Phillies, to commemorate its 2008 World Series win. To contact the reporter on this story: James Rowley in Washington at jarowley@bloomberg.net .

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Dan Dorfman: Goldman Chief Could Be Out

April 30, 2010

How the ongoing Goldman Sachs drama plays out after the revelation of a federal investigation is anybody’s guess. But here’s a fresh dimension to Wall Street’s latest horror story–the strong likelihood that Goldman’s 55-year-old chief, Lloyd Blankfein, will be booted out. Some people in the Securities and Exchange Commission, I’m told authoritatively, want his scalp, given what they perceive as Goldman’s shady practices. That’s what I hear from some regulatory contacts with reasonably close ties to the commission, namely a former top SEC official in the enforcement division and a compliance officer of a major brokerage firm. All of this stems from an SEC investigation of Goldman that the agency announced on April 16 in which it charged the firm with fraud in connection with the 2007 sale of subprime mortgages, which were packaged in a collateralized debt obligation. The SEC suit alleges that Goldman permitted a hedge fund, Paulson & Co., to help choose the securities for the CDO, and failed to tell investors who bought it that Paulson was actually shorting the CDO (a bet its price would fall). The SEC further alleged that Paulson paid Goldman about $15 million for structuring and marketing the deal. In turn, Goldman has characterized the SEC charges as completely unfounded and said it would fight them. Regarding talk that the SEC might seek Blankfein’s ouster from Goldman as part of an enforcement action, a Goldman spokesman wouldn’t rule such a possibility, saying simply “We have no comment.” The general view on Wall Street is that Blankfein now has less than a 50% chance of retaining his job; some say less than 25% and some say none. The view is also expressed that Blankfein would be wise to resign before he’s forced to resign. “If this mess is to be cleared up, Blankfein will have to step down,” says online investment adviser Mark Leibovit of VRTrader.com of Sedona, Ariz. However, one Goldman analyst ridiculed the idea, observing “President Obama will likely leave office before Blankfein does.” He also knocked the commission’s suit, contending “the only reason it took the action against the firm was because of the heavy criticism it received for its incompetence in dealing with Ponzi scheme operators, mainly Bernard Madoff.” The SEC declined comment. Meanwhile, imagine this scene. You’re in a boxing ring and getting battered by your opponent–or in this case opponents–who are out for your hide. That was the scene Tuesday at a Congressional hearing at which Goldman was unmercifully pounded by lawmakers who raised serious questions about its code of ethics, as well its commitment to its clients. A number of former and present Goldman officials, including Blankfein, testified at the hearing. The general view is that the hearing was a standoff. From a public standpoint, it was a public relations nightmare as Goldman came across as a firm whose ethics were now suspect. As far as Wall Street is concerned, it was, as Shakespeare put it, much ado about nothing. The view there is that Goldman, which is widely thought to have the smartest and best compensated people on Wall Street, will ride out the crisis and it will be soon be business as usual again for them. That is also the way Leibovit sees it. “I look for a slap on the wrist, a fine of something around $700 million and maybe Blankfein will have to step down,” he says. However, Leibovit also sees some potential danger arising from the SEC suit. “The more aggressive the government gets with Goldman, the greater the risk of another Wall Street crash because Goldman is Wall Street.” In general, some market pros and attorneys thought Blankfein handled himself well at the hearing in his efforts to present the Goldman case. In contrast, the other Goldman people who testified were viewed as ineffective, evasive, arrogant, and probably raised more questions than they answered. “Except for Blankfein, it was a study in corporate incompetence,” remarked one attorney. Surprisingly, former President Bill Clinton got into the act, noting that he’s not all sure Goldman violated the law. Tom Von Stein, a former SEC attorney, disagrees, commenting that he doesn’t believe Clinton is familiar with securities laws. In time, Von Stein says, “Clinton will eat his words.” As for some in the media who argue the SEC’s case against Goldman is weak, Von Stein retorts: “I don’t think the SEC brings weak cases.” He also believes Goldman will lose a good deal of business because, he says, “their honesty has been brought into attention and they’re now permanently damaged.” Asserting the firm is using their competence for their own purposes, not their clients, Von Stein says “if he were a Goldman client, he would stop using them because I don’t see how anyone could trust them.” Tom Ajamie, a securities lawyer in Houston, contends Goldman now has a major image problem and its current difficulties will probably lead to more investigations both here and abroad. “I’m sure,” he says, “that any institution which lost money on a Goldman deal is having an attorney re-examine it to see if there was any conflict of interest or any information hidden when the deal was done.” Ajamie believes Goldman will have image damage for at least four and five years during which “it will lose business for sure.” As for the Goldman action that’s the crux of the SEC case, Ajamie thinks the agency is in for rough going. “It’s a very difficult case,” he says. Marc Howard, a former top Wall Street trader, has similar thoughts. Noting that politicians are up in arms over what Goldman did, Howard ridicules such furor, pointing out it has been standard on Wall Street for years. “The story here,” he says, “is that it ain’t new and it ain’t news. Have you ever heard the expression. What’s your edge?” Howard figures Goldman will likely be saddled with nasty headline for two years, but then after that, they’ll be making as much money as they always have. On the other hand, economist J.C. Spender, professor of economics at the Open University School of Business in Milton Keynes, U.K., takes a dim view of Goldman’s actions and questions its integrity. Likening the current Goldman situation to the woes of Shoeless Joe Jackson (a former super baseball player who was caught up in the 1919 World Series scandal), Spender raises the question: “Why the upset over Jackson? Why do we go nuts when players threaten everything we believe in by engaging in betting and throwing games? This is what Goldman Sachs did–and they damn well knew it. Would we really stand for surgeons making a book on the outcome of their operations?” My thoughts on Spender’s tough comments: Say it ain’t so, Lloyd. Meanwhile, a few weeks ago the Goldman bulls were talking of a $200 price tag on the stock before year end. With the shares now around $145, down from a 52-week high of $193.60, there’s now talk that a price break below $100 could be just around the corner. What do you think? E-mail me at Dandordan@aol.com .

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Jason Bay Joining New York Mets, Club’s First Major Move of MLB Offseason

January 4, 2010

By Mason Levinson Jan. 4 (Bloomberg) — All-Star outfielder Jason Bay will join the New York Mets, marking the team’s first major signing this offseason. The Mets announced today that Bay will be formally introduced at a news conference tomorrow at Citi Field. Terms of the free-agent signing weren’t disclosed in a news release. The outfielder and the team reached agreement last week pending Bay passing a physical examination. ESPN and other media said the contract was for $66 million over four years. Bay, who had played for the Boston Red Sox since a 2008 trade-deadline move from the Pittsburgh Pirates, was a Major League Baseball All-Star last season, batting .267 with 36 home runs and 119 runs batted in. He adds power to a lineup where Daniel Murphy hit a club- high 12 homers last season while playing for the Mets. Jeff Francoeur had 15 homers in 2009, 10 after coming to the Mets in a trade from Atlanta in July The Mets 40-man roster already includes outfielders Francoeur , Carlos Beltran , Angel Pagan , Fernando Martinez , Nick Evans and Chris Carter. New York was beset by injuries last season, finishing with a 70-92 record , 23 games behind the division-winning Philadelphia Phillies. Until now, the Mets had remained relatively quiet during the offseason as the New York Yankees followed their World Series title by adding All-Star center-fielder Curtis Granderson , designated-hitter Nick Johnson and pitcher Javier Vazquez . Escobar Signing On Dec. 28, the Mets signed free-agent pitcher Kelvim Escobar to a one-year contract. Escobar had missed most of the past two seasons with a shoulder injury. With Bay, the Mets get a 31-year-old player who averaged 32 homers and 103 RBIs over last five major-league seasons . After being drafted by the Montreal Expos in the 2000 amateur draft, Bay made his major-league debut for the San Diego Padres in 2003 before moving to the Pirates that season. He played in Pittsburgh until his July 31, 2008, trade to the Red Sox as part of a three-team trade that landed All-Star Manny Ramirez with the Los Angeles Dodgers. Bay was named the National League Rookie of the Year in 2004 for Pittsburgh and an All-Star in each of the next two seasons. To contact the reporter on this story: Mason Levinson in New York at mlevinson@bloomberg.net .

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Yankees Trade for Pitcher Javier Vazquez, Sending Melkey Cabrera to Braves

December 22, 2009

By Mason Levinson Dec. 22 (Bloomberg) — The New York Yankees acquired right- handed starting pitcher Javier Vazquez from the Atlanta Braves for outfielder Melky Cabrera as part of a five-player trade. Relief pitcher Boone Logan also joined the Yankees, while reliever Mike Dunn and minor-league pitcher Arodys Vizcaino moved to Atlanta, the Yankees said in a news release. New York also sent an undisclosed amount of cash to the Braves. Vazquez, who pitched for the Yankees in 2004, joins CC Sabathia , A.J. Burnett and Andy Pettitte in New York’s rotation. Phil Hughes and Joba Chamberlain also may be used as starters or out of the bullpen. Vazquez went 15-10 with a 2.87 earned run average last season, his 12th in Major League Baseball. Over the last 10 campaigns, he’s thrown at least 200 innings every year except 2004, when he had 198 with New York and became an All-Star. In the 2004 playoffs, Vazquez allowed four home runs, including three in an American League Championship Series loss to the Boston Red Sox. In Game 7, he surrendered two homers to Johnny Damon , including a grand slam, as Boston became the first major-league team to rally from a 3-0 deficit to claim a playoff series. He was traded to the Arizona Diamondbacks in January 2005 in the trade that brought five-time Cy Young Award winner Randy Johnson to New York. The 33-year-old Vazquez finished fourth in 2009 voting for the Cy Young Award, which goes to the league’s best pitcher. He had 238 strikeouts while allowing 44 walks. For his career, he has a 142-139 record and a 4.19 ERA. Montreal Start Vazquez spent his first six seasons with the Montreal Expos, played with Arizona in 2005 and the Chicago White Sox from 2006 through 2008 and joined Atlanta last season. He had a limited no-trade clause in his contract with the Braves that kept them from sending him to any team in either league’s West division without his permission, and will make $11.5 million next season before becoming a free agent, according to MLB.com. Cabrera’s departure opens a spot in the Yankees’ outfield, perhaps signaling a return of Damon, who’s played the last four seasons in New York, or the addition of someone like All-Star Matt Holliday . Both are free agents. The Yankees also may go with Brett Gardner , who had 26 stolen bases in 108 games last season. Damon’s exit seemed likely earlier this month when New York acquired All-Star center-fielder Curtis Granderson from the Detroit Tigers as part of a three-team trade that switched Cabrera to left field. Johnson Returns The Yankees also have reached preliminary agreement with Nick Johnson to be their designed hitter, pending results of a physical exam, according to reports in media including the New York Times. Johnson was traded to Montreal for Vazquez. Cabrera, 25, has played his entire five-year major-league career with the Yankees, batting .269 with 36 home runs and 228 runs batted in. He hit .274 with a career-high 13 homers last season, batting .271 with four RBI in the playoffs as New York won its 27th World Series title. Logan, a 25-year-old left-hander, appeared in 20 games for Atlanta last season, going 1-1 with a 5.19 ERA. He played the three previous seasons with the White Sox. Dunn, 24, made four appearances for New York last season, posting a 6.75 ERA in four innings of relief. Vizcaino, 19, was 2-4 with a 2.13 ERA in 10 starts for Class A Staten Island last season. To contact the reporter on this story: Mason Levinson in New York at mlevinson@bloomberg.net .

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Jay-Z’s Bubbly, Spicy Blaufrankisch Make My Top Wines of 2009: Elin McCoy

December 21, 2009

Review by Elin McCoy Dec. 21 (Bloomberg) — In 2009, I spat out 5,000 wines in my quest for recommendable bottles. Far too many were boring or overpriced. So, in compiling my top 10 for this year, I picked those worth the bucks asked, whether legendary labels or exciting discoveries. These 10, in order of price, show where value lurks in today’s wine world and highlight what may be hot in 2010. 2007 Errazuriz Single Vineyard Cabernet Sauvignon ($21) Of the hundreds of cabs I tried this year, few svelte examples came with a $20 price tag. On a trip to Chile’s warm, dry Aconcagua valley, I found a new smooth, chocolatey cabernet blended with dashes of cabernet franc, petit verdot and shiraz at this winery better known for its expensive wines. 2007 Schafer-Frohlich Riesling Spatlese Bockenauer Felseneck ($34) The 2007 vintage in Germany, with the longest growing season anyone can remember, was textbook perfect for riesling. Dozens impressed me at a June tasting in New York of more than 150 bottlings. My standout was this lively example with succulent, pinpoint balance, made from a single vineyard in the Nahe region by boy-wonder winemaker Tim Frohlich. 2006 Luciano Sandrone Barbera d’Alba ($35) At a gala dinner in Italy featuring truffles and braised mutton cheek glazed with Barolo, I was stunned by this vibrant, velvety barbera from famed Piemonte producer Luciano Sandrone. Like a few other top Barolo makers, he lavishes the same attention on his affordable barbera as he does on his age-worthy reds, and it shows. The wine stood up to reds served next to it costing 10 times more. NV Laherte Freres Rose de Saignee Les Beaudiers Vieilles Vignes Champagne Extra Brut ($80) This frothy pink Champagne from a small grower in the village of Chavot is all about gulp-me-now pleasure. Entirely from pinot meunier, the least-known Champagne grape, it’s a subtle mix of spicy scents and bright berry tones. With wines like this, no wonder demand for grower Champagnes keeps rising. 2007 Moric Lutzmannsburg Alte Reben Blaufrankisch ($95) Surprise of the year? That tongue-twisting blaufrankisch, known as the grape of simple quaffers, could make great wine. I was blown away by the spicy, exotic offerings of passionate Austrian winemaker Roland Velich, who tracks down patches of 100-year-old vines. This bottling (he makes five under his Moric label) displays fresh cherry and herb aromas, raspberry and chalk flavors, and a deep, intriguing personality. 1989 Ridge Vineyards Monte Bello ($240) Made since 1962 from grapes grown in the Monte Bello vineyard high in the Santa Cruz mountains, this ageworthy cab blend is one of California’s “first growths” — an American Chateau Latour. I savored the 1989, a vintage I’d never encountered, at the annual New York Wine Experience. Filled with lush cassis and earth flavors, this has an elegant balance (13.5 percent alcohol) that’s all too rare in top California cabs. NV Armand de Brignac ‘Ace of Spades’ Champagne Brut Gold ($300) After rapper Jay-Z dumped Cristal (his previous fave Champagne), he gave this new luxe fizz a shout-out in his video “Show Me What You Got.” I dismissed the garish golden bottle in a shiny black lacquer box as yet another celeb wine. When I sampled the latest release, though, I was sold. The sexy sparkler has plenty of flash and dash and the burnished tang of brioche and candied lemon peel. Its only drawback is that part of the price is surely for bling — the Yankees toasted their World Series win by popping bottles in the locker room. 1945 Marques de Riscal Rioja Reserva ($720) At the Wine Future 2009 conference in Rioja, Spain, I sipped (and didn’t spit) this silky 64-year-old blend of cabernet sauvignon and tempranillo, aged for years in oak barrels. The wine’s tantalizing spice and cedar bouquet and layers of fruit and licorice flavors dramatically underscore how well the region’s undervalued, traditionally made reds can age. 2006 Domaine de la Romanee-Conti La Tache ($995) Not a chance I’d pass up the annual New York release tasting for Burgundy superstar-producer Domaine de la Romanee- Conti. Weather during 2006 was challenging compared with 2005’s perfection, but a not-so-stellar vintage shows off the subtle terroir differences among the DRC’s six vineyards. The powerful, intense always-in-demand La Tache was all crushed rose petals, blackcurrants and damp leaves in ‘06 and, hey, it costs one- third the price of the ‘05. 2008 Le Pin Pomerol ($1,495 in futures) A lone pine tree shading a nondescript building in Bordeaux’s Pomerol marks tiny Chateau Le Pin, the source of a merlot trophy wine (600 cases) that collectors pant for. Tasting the 2008 from the barrel in June with maker Jacques Thienpont, I found its sleek black fruit and seductive opulent character irresistible — slightly less sensational than nearby rival Petrus, but half the price. ( Elin McCoy writes on wine and spirits for Bloomberg News. The opinions expressed are her own.) To contact the writer of the story: Elin McCoy at elinmccoy@gmail.com .

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President Obama To Bank Execs: You Guys Are Like Overpaid Pitchers — And You Didn’t Win The World Series

December 14, 2009

ABC News has more details from Obama’s meeting with top banking executives on Monday — according to their White House source, the President told the bankers that they were like “overpaid pitchers on a team doing poorly.” The subject was executive compensation. “The concern is less when your team is successful,” Obama added, “but you guys didn’t win the World Series this year.” Those aren’t the only harsh words Obama has had for bankers recently. In his 60 Minutes interview which aired last Sunday, the President called them “fat cats, ” as in: “I did not run for office to be helping out a bunch of fat cat bankers on Wall Street.” Obama’s lecture to bankers on Monday had, in his words, a simple message: “America’s banks received extraordinary assistance from American taxpayers to rebuild their industry, and now that they’re back on their feet, we expect an extraordinary commitment from them to help rebuild our economy.” The bankers said that they got it.

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Tiger Woods Lays Low as Derek Jeter Loves Life: Scott Soshnick

December 9, 2009

Commentary by Scott Soshnick Dec. 10 (Bloomberg) — In a promotional video hawking The Cliffs at High Carolina, the first American golf course designed by Tiger Woods , The Man himself gets personal on matters that, according to him, should remain private. “With a wife and two kids, your perspective in life changes,” says Woods, whose personal life has become tabloid fodder. “I want to have my kids experience something like this. I want to be able to bring them up here and feel safe, feel secure, and enjoy running the trails and being a part of nature. Your priorities start changing and evolving once you have a family.” Listening to Woods prattle on about changing perspectives and priorities illuminates why Derek Jeter , who at age 35 is closer to retirement than rookie, is single. Still. Baseball is Jeter’s priority. Pinstripes are his perspective. He’s aware of the changes that come with commitment and he isn’t prepared to make them. Not yet, anyway. The very best athletes are different from their teammates and opponents. More is expected. More is required. Anyone who has ever worn a wedding ring knows that things do, indeed, change. Add kids and they change even more. That’s true for everyone, including iconic athletes like Woods and his fellow Nike Inc. endorser Roger Federer , who said as much after the birth of his twin girls. Some thought that getting married and having kids might derail Woods, the golfer. It didn’t. True Values Woods, the family man, however, has apologized for transgressions and for letting his family down. Says he hasn’t been true to his values. Woods in a statement on his Web site admitted to being far short of perfect, even if his golf game is pretty darn close. Before the Woods imbroglio broke, Jeter, who also covets his privacy, found himself on the cover of the New York Post . Someone snapped a picture of the New York Yankees captain and his latest gal pal, the actress Minka Kelly, frolicking in the sun, sand and surf of some exotic locale. Kelly is the latest in a long line of famous faces with romantic ties to Jeter, who recently led the Yankees to their 27th World Series championship. Jeter’s girlfriends have included a former Miss Universe, Lara Dutta , Mariah Carey , Jordana Brewster , Adriana Lima, Vanessa Minnillo and the Jessicas — Alba and Biel. Just to name a few. And yet, the adjective most often attached to Jeter isn’t womanizer, but winner. Women want to be with Jeter. Men want to be him. Adored, Respected Jeter is adored and respected by all, teammates and opponents alike. Never a disparaging word is heard about the baseball star who guards his personal life with a Tiger-like ferocity. As of now, Woods’s endorsers are sticking by their main man. They’re counting on a familiar refrain in sports: winning as cure-all. But it will be a while before Woods returns to golf and every day, it seems, there’s a new twist to this tale. His standing with consumers is plummeting. Woods’s ranking on a list of celebrity endorsers fell to 24th from sixth, according to the David Brown Index, which marketers and advertising agencies use to gauge the ability of personalities to influence consumer behavior. There hasn’t been a prime-time commercial featuring Woods since Nov. 29. While you haven’t seen Woods pitching products, you’ve probably seen the widely circulated e-mail that purports to show the Woods family Christmas card. There’s Woods, battered and bruised , wife Elin by his side and smiling, with a golf club in her hand. Punch Line Woods, the ultimate pitchman, is now Woods, the punch line. Saturday Night Live. Jay Leno . Even late-night TV host David Letterman , who knows something about becoming tabloid fodder, is taking shots at the world’s most recognizable athlete. Back in February I wrote a column titled “Tiger Woods, Sports Needs You like Never Before,” in which I took issue with Alex Rodriguez’s argument that pressure made him use performance-enhancing drugs. Laughable, is the word I used, especially when you consider that Woods carries more of a burden each time out than any baseball player. A-Rod has teammates like Jeter who can pick him up, help him out, I noted. Tiger Woods stood alone. Woods, at his best, had the power to inspire and awe. Some of those casual sports fans who tuned in each Sunday afternoon to see Woods win might never return. They believed in the golfer. They believed in the man. History shows it’s a risky proposition. Surely we can believe and trust in Jeter, who less than two weeks ago was named Sportsman of the Year by Sports Illustrated. Then again, Woods is the only person to have won the award twice. As Woods knows, perspectives change. ( Scott Soshnick is a Bloomberg News columnist. The opinions expressed are his own.) Click on “Send Comment” in the sidebar display to send a letter to the editor. To contact the writer of this column: Scott Soshnick in New York at ssoshnick@bloomberg.net

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Andy Pettitte Returns to Pitch for New York Yankees Under One-Year Deal

December 9, 2009

By Mason Levinson Dec. 9 (Bloomberg) — New York Yankees pitcher Andy Pettitte will return for a 16th Major League Baseball season, signing a one-year contract to remain with the team he helped to win the World Series. Financial terms weren’t disclosed in a news release announcing the left-hander’s re-signing. The contract is worth $11.75 million, the Associated Press reported. Pettitte, 37, went 14-8 with a 4.16 earned run average in 32 starts last season. He went 4-0 in five playoff starts to raise his postseason win total to 18, a major-league record. To contact the reporter on this story: Mason Levinson in New York at mlevinson@bloomberg.net .

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Video: Begleiter Sees Parallels Between Wall Street and Poker: Video

November 20, 2009

Nov. 20 (Bloomberg) — Steve Begleiter, who headed corporate strategy at Bear Stearns Cos. before its 2008 collapse, talks with Bloomberg’s Mark Crumpton and Lori Rothman about playing in the World Series of Poker and parallels between Wall Street and poker. Begleiter earned $1.59 million at the World Series of Poker’s main event on Nov. 10 with a sixth-place finish. Joe Cada, 21, became the youngest champion claiming the $8.55 million top prize in Las Vegas. (Source: Bloomberg)

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France’s Henry, Yankees Catch Break as Soccer, Baseball Ban Instant Replay

November 20, 2009

By Tariq Panja Nov. 20 (Bloomberg) — The left hand of Thierry Henry and the left-field foul line at Yankee Stadium have something in common: No instant replay. France reached soccer’s World Cup finals on an overtime goal against Ireland that was set up by what replays showed was a ball illegally directed by Henry’s left hand onto the path of teammate William Gallas . A month earlier and 3,500 miles (5,600 kilometers) to the west, the New York Yankees won a first-round game in Major League Baseball’s playoffs with help from a final-inning call on a fly ball down the left-field line by Joe Mauer of the Minnesota Twins that was called foul. Video replays led even the umpire who called it, Phil Cuzzi, to say that the ruling should have been fair. The Yankees won 4-3 in the bottom of the 11th on their way to claiming a record-extending 27th World Series title. Each case brought cries for the use of video replay to help determine the correct call. Both sports’ leaders said, ‘No.’ “Until I am no longer president, there will be no chance” for replays, said Sepp Blatter , the head of soccer’s governing body FIFA, which said yesterday that the France-Ireland result stood. Baseball Response MLB Commissioner Bud Selig said this week at an owners meeting that he remained opposed to expanding the use of replay beyond the current rules on determining if a home run cleared the fence and whether a homer was fair or foul. “I haven’t changed my view at all, but I’m always willing to talk to a lot of people and I’ve talked to a lot of managers and I’ve talked to a lot of general managers,” Selig said, according to the Associated Press. “I haven’t heard from anybody about instant replay. The only comments I get are when I call somebody on a bunch of subjects and we talk about it.” Video replays showed Henry, the French captain, twice touching the ball with his hand before centering for Gallas to score at Stade de France outside Paris. That gave his team a 2-1 victory in the two-game contest and a trip to South Africa next year. Ireland went home. With millions of dollars at stake, cricket, American football, tennis and rugby are among the professional sports that have turned to video to ensure correct rulings on contentious plays. Ireland’s coach, Giovanni Trapattoni , said soccer must follow. Brief Break “The game could be stopped for 30 seconds,” the 70-year- old coach said yesterday at a news conference in Dublin. “It’s better to have the right decision than this situation.” The Ireland-France match is unlikely to sway the eight members of the International Football Association Board who decide soccer’s rules. Blatter, who chairs the group, says the sport’s beauty is that the rules are the same in the playground and the World Cup final. Other sports have decided that correct calls are more important than an interrupted game. The National Hockey League, National Football League, National Basketball Association, International Cricket Council and International Rugby Board all review plays. Baseball added video replay to judge home-run calls in 2008. Soccer is more likely to add two officials to help make calls in the penalty box. While the Europa League, European soccer’s second-tier club competition, is experimenting with the concept, it will be 2011 at the earliest before a change would be made. ‘Time Has Come’ “Surely, now is the time for technology,” said Steve Bruce , the coach of English Premier League team Sunderland. “When you see every Ireland player appealing for handball, surely now is the time.” As Gallas scored from close range, almost every Irish player, including goalkeeper Shay Given , had their arms raised, calling for play to be stopped. “This is the biggest example of having some way of trying to help the referees,” former Ireland striker John Aldridge said. “He was conned.” Though Henry acknowledged the handball, he said the referee, Martin Hansson, had to make the call. “I didn’t deliberately do it, but it was handball,” the player told Sky Sports. “The ball bounced off my hand, the referee did not see it and I played on.” Ireland’s call to replay the match was immediately rejected by FIFA. “No protest may be made about the referee’s decision regarding facts connected with play,” the sport’s rules say. Ireland’s appeal cited a 2005 replay that was ordered between Bahrain and Uzbekistan. That case was different because the referee misinterpreted the rules rather than made a disputed judgment, FIFA spokesman Alex Stone said. Even if change comes, controversy may continue. Defending U.S. Open tennis champion Serena Williams was serving to stay in the semifinals of the season’s last Grand Slam against Kim Clijsters when she was called for a foot fault. Williams received a second code violation for her protest, which cost her a point and gave Clijsters the match. A foot fault is one of the only calls in tennis that can’t be reviewed on video. To contact the reporters on this story: Tariq Panja at tpanja@bloomber.net or tpanja@bloomberg.net .

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Rockies’ Jim Tracy, Angels’ Mike Scioscia Win MLB Manager of Year Awards

November 18, 2009

By Erik Matuszewski Nov. 18 (Bloomberg) — Mike Scioscia of the Los Angeles Angels was voted American League Manager of the Year for the second time, while Colorado’s Jim Tracy earned National League honors for turning around a team with a losing record. Scioscia beat out Ron Gardenhire of the Minnesota Twins and Joe Girardi of the New York Yankees in balloting by the Baseball Writers Association of America. He was listed first on 15 of the 28 ballots cast by two writers from each of the AL cities. Tracy received 29 of the 32 first-place votes in the NL to finish ahead of Tony La Russa of the St. Louis Cardinals and Joe Torre of the Los Angeles Dodgers. Scioscia, 50, captured the AL award after the Angels overcame a series of injuries and the death of pitcher Nick Adenhart in an April 9 car accident to win the AL West Division title for the third straight year. The Angels finished Major League Baseball’s regular season with a 97-65 record, the second-best in the majors, to make the postseason for the sixth time in Scioscia’s 10-year tenure. Los Angeles used 14 starting pitchers because of injuries to John Lackey , Joe Saunders , Ervin Santana and Kelvim Escobar , while Torii Hunter and Vladimir Guerrero also spent time on the disabled list. Angels in Playoffs The Angels swept the Boston Red Sox in the opening round of the playoffs before losing to the eventual World Series champion Yankees in the AL Championship Series. Voting for the awards was conducted before the playoffs. Scioscia, who also was honored as the AL’s top manager in 2002, had 106 points. Gardenhire finished second in the voting for a record fifth time, receiving six first-place votes and 72 points. Gardenhire’s Twins won 17 of their final 21 games to win the AL Central title. Girardi, who won the NL award with the Florida Marlins in 2006, received four first-place votes and 34 points after leading the Yankees to a major league-best 103-59 record and their record 27th World Series title. Tracy, 53, helped the Rockies turn around a losing season and set a franchise record with 92 wins after replacing Clint Hurdle on May 29. The Rockies were in last place in the NL West Division with an 18-28 record when Hurdle was fired and Tracy was promoted from bench coach. Colorado went 72-42 the rest of the way to earn the NL’s wild-card playoff berth. In-Season Hire Tracy is just the second manager to win the award after being hired during the season, following Jack McKeon of the Marlins in 2003. Tracy receives the award two years after he was fired by the Pittsburgh Pirates following 94 losses in 2007 and 95 the previous season. He also spent five years as manager of the Los Angeles Dodgers from 2001 through 2005 and compiled a 427-383 record. Don Baylor was the only previous Rockies manager to win the NL award, in 1995. La Russa, a four-time winner, received two first-place votes. Torre, a two-time manager of the year in the AL with the Yankees, got one first-place vote. Selected members of the writers’ association vote for their top three choices and managers get five points for first-place votes, three points for second and one point for third. The BBWAA is scheduled to announce the winner of the NL Cy Young Award tomorrow. Zack Greinke of the Kansas City Royals won the AL award as his league’s top pitcher yesterday. To contact the reporter on this story: Erik Matuszewski in New York at matuszewski@bloomberg.net

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Yankees’ Jeter, Teixeira Add Gold Gloves to 2009 Awards; Ichiro Wins Ninth

November 10, 2009

By Mason Levinson Nov. 10 (Bloomberg) — New York Yankees shortstop Derek Jeter and first baseman Mark Teixeira won Gold Glove awards to go with their team’s World Series trophy. Outfielders Ichiro Suzuki of the Seattle Mariners and Torii Hunter of the Los Angeles Angels were both named the best American League defensive players at their position for the ninth consecutive year, Major League Baseball said in a news release. Winners are chosen by major-league managers and coaches in voting prior to baseball’s postseason. Jeter, 35, earned the honor for the fourth time and first since 2006. Teixeira, who also last won the award in 2006, was given a Gold Glove for the third time in his career. “I’ve said it time and time again, playing championship- caliber baseball starts with pitching and defense, and I think those two components were certainly the foundation for our success in 2009,” Jeter said in a statement released by his team. “I’ve always taken a great deal of pride in my defense, and being honored with a Gold Glove is an accomplishment I will never overlook.” The Yankees beat the Philadelphia Phillies in six games to win their 27th World Series title on Nov. 4. Detroit Tigers second baseman Placido Polanco won his second Gold Glove after committing just two errors during baseball’s regular season. At third base, the award went to the Tampa Bay Rays’ Evan Longoria for the first time. Minnesota Twins catcher Joe Mauer earned his second- straight Gold Glove to compliment his AL batting titles in each of the last two seasons. Winning the award for the first time, the Baltimore Orioles’ Adam Jones joined Suzuki and Hunter as the AL’s outfield honorees. The 24-year-old is the first Oriole to win the award since pitcher Mike Mussina in 1999. This year, the Chicago White Sox’s Mark Buehrle was named the AL’s top defensive pitcher. Suzuki, 36, became the first player to win a Gold Glove in each of his nine major-league seasons and the seventh outfielder to win at least nine a career. To contact the reporter on this story: Mason Levinson in New York at mlevinson@bloomberg.net .

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Hideki Matsui Becomes First Japanese Player to Win World Series MVP Honor

November 5, 2009

By John Brinsley Nov. 5 (Bloomberg) — Hideki Matsui became the first Japanese baseball player and first full-time designated hitter to be named World Series most valuable player after helping the New York Yankees win their 27th championship. In what may have been his last game in Yankee pinstripes, Matsui went three-for-four with a home run and a record-tying six runs batted in to lead New York to a 7-3 victory over the Philadelphia Phillies that clinched the best-of-seven series four games to two. “This is the best,” Matsui, 35, said in a televised interview with Japanese broadcaster NHK. “It’s like a dream.” Fittingly, Matsui started the scoring with a second-inning, two-run homer to right field that sailed over a sign for Japanese construction machinery manufacturer Komatsu Ltd. , where his father once worked and which features him in ads. Other companies Matsui endorses include Toshiba Corp. , sporting goods maker Mizuno Corp. , and soy sauce maker Kikkoman Corp. “Komatsu and its employees are happy with Matsui’s fantastic performance,” company spokesman Toru Nakayama said in a telephone interview. “We have supported him since he joined the major leagues in 2003. We think he is very pleased with his contribution to the team.” Matsui just completed a four-year, $52 million contract and team officials have not said whether they will re-sign him. He hasn’t played in the field since June 2008. Yankees General Manager Brian Cashman declined to comment after the game. ‘Hope It Works Out’ “I hope it works out,” Matsui told the crowd through an interpreter after accepting his MVP award. “I love New York, I love the Yankees, and I love the fans here.” He batted .615 in the World Series, with three home runs and eight RBIs. As the Yankees designated hitter, he didn’t start in the three games played in Philadelphia, although he had a pinch-hit home run in Game 3 to help seal an 8-5 victory. “He’s a professional hitter,” Yankees first baseman Mark Teixeira said in an interview with ESPN. “He’s one of the greatest hitters I’ve played with.” Matsui also hit a two-run single in the third inning. He followed that up with two more RBI on a double in the fifth, pushing the Yankees’ lead to 7-1 and matching the World Series record of six RBI in one game set by Bobby Richardson in 1960. Matsui came to New York in 2003 after a 10-year career with the Tokyo-based Yomiuri Giants, which he led to three Japan Series titles, winning three regular season and one post-season MVPs in the process. Matsui finished the regular season with a .274 batting average, 24 home runs and 90 runs batted in. To contact the reporter on this story: John Brinsley in Tokyo at at jbrinsley@bloomberg.net .

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Wall Street’s Yankees Fans Revel in World Series Victory, Collect Wagers

November 5, 2009

By Michael J. Moore (Corrects typographical error in next-to-last paragraph.) Nov. 5 (Bloomberg) — David Zion , managing director of accounting research for New York-based Credit Suisse Holdings USA Inc., says he’s glad he didn’t use his World Series tickets. They were for Game 7 tonight at Yankee Stadium. Zion shares season tickets with friends and received the passes for Games 1 and 7. After seeing the Yankees lose Game 1 to the Philadelphia Phillies, Zion said he was more interested in just seeing his team close out the series than whether he’d be there when it happened. “I was 3 percent interested in seeing a Game 7, 97 percent wanting this thing to be over,” said Zion, 40, who this morning has been collecting on friendly wagers and trying to change his schedule so he can attend the victory parade tomorrow. “It’s been a while. Well, in Yankees years, it’s been a while.” The Yankees claimed their record-extending 27th title last night with a 7-3 win over the Phillies, ending a championship drought for Major League Baseball’s most successful franchise that began after winning the 2000 World Series. Andy Pettitte collected his 18th career playoff win as the Yankees beat the defending champions four games to two in the best-of-seven series. The championship completes a year in which the Yankees opened their new $1.5 billion stadium and spent $424 million to add Mark Teixeira , CC Sabathia and A.J. Burnett after missing the playoffs last season. It also marked the emergence of Alex Rodriguez from a three-year postseason slump. “We’ve been though the wringer for the last 9 years, so we know this is not an easy thing to win,” said Stephen Auth , 53, the New York-based chief investment officer for equities at Federated Investors Inc., which oversees $400 billion. Lifts the Spirits He said the victory will lift the spirit of New York and of the market. “I think it’s good for 20 points on the S&P.” Keith Wirtz , chief investment officer at Fifth Third Asset Management Inc., which oversees $18.6 billion in Cincinnati, traveled to New York to watch Game 6 with clients. A life-long Yankees fan who wore Yankees catcher Thurman Munson’s number in high school, Wirtz said the win makes his annual prediction to clients seem prescient. “I put forth a Top 10 list every year and I’ve been doing that for 17 years and for 17 years straight, one of my top 10 predictions has been that the Yankees will win the World Series,” said Wirtz, 49. “I was finally right. I got that one right this year.” Baseball Hangover The World Series was a popular topic as many companies reported quarterly earnings over the past two weeks. It was even blamed for absences at job-search Web site Monster Worldwide Inc. ’s investor and analyst meeting to discuss the company’s earnings, which was held in New York the morning after the Yankees’ Game 1 loss. “I do note some no-shows, particularly from our New York contingent,” Tim Yates , Monster’s chief financial officer said on the conference call. “The only thing I can guess is that they’re so upset with the loss of the Yankees last night, they couldn’t get out of bed this morning.” The championship was the fifth for long-time Yankees Pettitte, Derek Jeter , Jorge Posada and Mariano Rivera , who helped the team win four titles in five years from 1996 to 2000. Zion said this year helped erase some of the bad taste left by World Series losses in 2001 and 2003. “This team really felt like a team and it kind of took you back to when they were winning titles in the late ‘90s and 2000,” Zion said. “As Jeter said last night when he was holding the trophy, ‘It’s back where it belongs.’” To contact the reporter on this story: Michael J. Moore in New York at mmoore55@bloomberg.net ;

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Yankee Fans With Cash in S&P 500 Stand to Win From Loss: Chart of the Day

November 4, 2009

By Mason Levinson and Rodney Yap Nov. 4 (Bloomberg) — New York Yankees fans who invest in the stock market may find conflict between a World Series title and a happy holiday season. The Yankees, seeking their 27th championship, lead the Philadelphia Phillies three games to two in the best-of-seven matchup. Game 6 is tonight at Yankee Stadium and a seventh game would be held there tomorrow if necessary. The CHART OF THE DAY compares the historical November and December performance of the S&P 500 Index, the benchmark index for American equities, when the Yankees lose in the World Series to when they win the title. Since the S&P 500 began trading in 1928, it has averaged 3 percent returns for those two months following the Yankees’ 10 World Series defeats; 2.16 percent returns in the 24 years they won the title; and 0.9 percent returns when the Yankees didn’t make the World Series at all. The market does best when New York reaches the World Series — and loses. “All you guys that root for anybody but the Yankees, you’re right,” said Soleil Securities Corp. Chief Investment Officer Vince Farrell , a Bronx, New York, native and Yankees fan. “The Yankees lose, the market does better. Everybody hates the Yankees, so you’re so happy that they’ve lost, and you look at the world with rose-colored glasses.” Two of New York’s previous 26 championships , in 1923 and 1927, came before the creation of the S&P 500. Each World Series game at Yankee Stadium is worth $15.5 million to the New York City economy, according to an estimate by the city’s Economic Development Corp. First Meeting New York swept the Phillies in the teams’ only other World Series matchup in 1950, a championship that was followed by 2.9 percent returns for the S&P 500 that November through December. Since then, December has been the best overall month for the index, with 1.64 percent average gains, followed by a tie between November and April (when Major League Baseball’s season begins) at 1.5 percent, according to Bloomberg data. While the end of the year may or may not bring what’s called a Santa Claus rally on Wall Street due to holiday effects such as bonuses and tax considerations, the Steinbrenner family, which owns the Yankees, has been giving the team’s fans the gifts of high-priced free agents for years. This season, they gave multiyear contracts to pitchers CC Sabathia and A.J. Burnett, and added All-Star first baseman Mark Teixeira for a total contract value of $423.5 million. The franchise’s opening day payroll was $210 million, the biggest in baseball. No Playoffs Without those players, the Yankees missed the playoffs in 2008. The S&P 500 fell 6.52 percent over the final two months. The Phillies did make the postseason, capturing their first championship in 28 years with a five-game World Series win over the Tampa Bay Rays. The S&P 500 rose 5.2 percent in 1980 following the Phillies’ first title. Phillies’ fan Michael O’Rourke , who is chief market strategist at Yardley, Pennsylvania-based BTIG LLC, said he’d prefer not to see a complete replay of last year’s developments. Asked how he’d react if a Phillies’ repeat means another Wall Street slump during the holiday season, O’Rourke said, “I will go out and buy a Yankees cap.” To contact the reporter on this story: Mason Levinson in New York at mlevinson@bloomberg.net .

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Phillies Prevent Yankees From Clinching World Series Title With Game 5 Win

November 3, 2009

By Erik Matuszewski Nov. 2 (Bloomberg) — The Philadelphia Phillies scored six runs in the first three innings against A.J. Burnett to defeat the New York Yankees 8-6 and extend the World Series. Chase Utley hit two home runs and Cliff Lee picked up his fourth win of the postseason for the Phillies, who pulled within 3-2 in Major League Baseball’s best-of-seven championship series and prevented the Yankees from wrapping up their 27th title. Philadelphia held off a late Yankee charge to force Game 6 in New York in two days, the first World Series to go more than five games since 2003. A seventh game, if necessary, would be played Nov. 5 at Yankee Stadium. “We have a lot of heart on this team,” Utley told Fox Sports in a televised interview. “The Yankees are a good team and we have our work cut out for us. We’ll see what happens.” A win away from locking up their first championship in nine years, the Yankees started Burnett on short rest for the first time this season. The Game 2 winner responded with his worst outing since signing a five-year, $85 million contract during the offseason. He left the game before recording an out in the third inning with the Yankees trailing 6-1. “If we would have pitched today, we probably would have won,” Yankees manager Joe Girardi said at a news conference. “A.J. just struggled.” The defending-champion Phillies are seeking to become the seventh team to overcome a 3-1 deficit in the World Series and the first since the 1985 Kansas City Royals. Teams holding a 3-1 World Series lead have won 37 of the previous 43 times. The Yankees have now lost their past three games with an opportunity to close out a World Series, having also dropped Games 6 and 7 against Arizona in 2001. Phillies manager Charlie Manuel said Pedro Martinez would start Game 6. Girardi said he would wait to see how Andy Pettitte is feeling tomorrow before deciding on a pitcher. To contact the reporter on this story: Erik Matuszewski at Citizens Bank Park in Philadelphia at matuszewski@bloomberg.net

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Giants, Jets Fall to Division Rivals in NFL; Brett Favre Wins at Green Bay

November 2, 2009

By Mason Levinson Nov. 1 (Bloomberg) — Donovan McNabb threw three first-half touchdown passes to lead the Philadelphia Eagles past the New York Giants, while the New York Jets lost 30-25 at home to the Miami Dolphins. Brett Favre threw four touchdown passes in a victorious return to Green Bay as the Minnesota Vikings beat the Packers 38-26. McNabb completed 17 of 23 passes for 240 yards as Philadelphia won 40-17, handing the Giants (5-3) their third straight defeat in the National Football League. Philadelphia is 5-2 and took a share of the National Football Conference East Division lead with the Dallas Cowboys, who beat the Seattle Seahawks 38-17. “I don’t know if I’m frustrated or mind-boggled about how we’re playing right now,” Giants linebacker Antonio Pierce said at a televised news conference. “This team just three weeks ago was not playing like this.” The Giants-Eagles game at Lincoln Financial Field started about seven hours before the Philadelphia Phillies hosted the New York Yankees in Game 4 of Major League Baseball’s World Series across the street in Citizens Bank Park. The Yankees lead the best-of-seven-game Series 2-1. Rookie LeSean McCoy scored on a 66-yard run and finished with 82 yards rushing for the Eagles, while fullback Leonard Weaver added 75 yards on the ground and a 41-yard touchdown. Eagles Scores Brent Celek , Jeremy Maclin and DeSean Jackson each had touchdown catches for the Eagles. Giants quarterback Eli Manning threw a touchdown pass and two interceptions, completing 20 of 39 attempts for 222 yards, and Brandon Jacobs led New York with 86 rushing yards on 20 carries. Weaver’s touchdown run, on his fifth carry of the season, came on Philadelphia’s three-play opening possession. McNabb then found Celek for a 17-yard touchdown to give Philadelphia a 13-0 lead after Asante Samuel intercepted Manning to end New York’s opening drive. David Aker’s extra-point try was blocked. The Giants got on the scoreboard with just under two minutes remaining in the half when Manning completed an 18-yard scoring pass to tight end Kevin Boss to cut the score to 16-7. With 54 seconds to play in the half, McNabb connected with Jackson on a 54-yard touchdown pass. It was the wide receiver’s sixth score of at least 50 yards this season. Manning Intercepted Philadelphia had another scoring opportunity before the half when Manning threw another interception. The Eagles needed two plays before Maclin caught a 23-yard touchdown pass to make it 30-7 at halftime. New York outscored the Eagles 10-3 in the third quarter before Philadelphia put the game out of reach on McCoy’s 66-yard touchdown run in the fourth period. Two weeks ago, the Eagles lost 13-9 at Oakland, which was 1-4 at the time. That came a week after the Giants routed the Raiders 44-7. “When I can explain those things, I’ll be undefeated,” Eagles coach Andy Reid said after today’s game. “Sometimes they’re hard to explain.” At Giants Stadium in East Rutherford, New Jersey, Miami’s Ted Ginn Jr . became the first player to return two kickoffs for touchdowns in the same quarter since Green Bay’s Travis Williams in 1967. Kickoff Touchdowns Ginn had third-quarter kickoff returns of 100 and 101 yards for the Dolphins (3-4), who survived a late comeback by the Jets (4-4) for their second win over their American Football Conference East Division rival in less than a month. The teams combined for 49 second-half points. Chad Henne’s lone touchdown pass — a 5-yarder to tight end Joey Haynos — gave the Dolphins a 30-19 fourth-quarter lead. Mark Sanchez of the Jets then found Dustin Keller for a 16- yard score to make it 30-25. Sanchez, who finished with 265 yards passing and two touchdown, drove New York to Miami’s 8- yard line with just over a minute remaining before turning the ball over when he failed to connect with Dustin Keller on fourth-and-13. Favre, a three-time NFL most valuable player, led the Packers to 11 playoff appearances and a Super Bowl victory before leaving the team after the 2007 season. Against his old team, he was 17-of-28 passing for 244 yards without an interception. The Vikings, who beat Green Bay at home earlier this season, are 7-1, while the Packers are 4-3. Packers Comeback Quarterback Aaron Rodgers helped Green Bay come back from a 24-3 third-quarter deficit to cut the score to 24-20, throwing two touchdown passes to tight end Spencer Havner . The Vikings clinched the win with fourth-quarter touchdown passes from Favre to Jeff Dugan and Bernard Berrian . The Denver Broncos (6-1) lost for the first time this season, falling 30-7 to the Baltimore Ravens, while the Indianapolis Colts remained undefeated with an 18-14 win over the San Francisco 49ers. The New Orleans Saints, the NFL’s only other unbeaten team, host the Atlanta Falcons tomorrow night. Elsewhere in Week 8, it was Houston 31, Buffalo 10; Chicago 30, Cleveland 6; St. Louis 17, Detroit 10; San Diego 20, Oakland 16; Tennessee 30, Jacksonville 13; and Carolina 34, Arizona 21. To contact the reporter on this story: Mason Levinson in New York at mlevinson@bloomberg.net .

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Yankees Lead Phillies 4-3 in 8th Inning of Baseball’s World Series Game 4

November 1, 2009

By Larry Siddons Nov. 1 (Bloomberg) — The Philadelphia Phillies pulled within a run of the New York Yankees, 4-3, on Chase Utley’s home run in the seventh inning of Game 4 of baseball’s World Series. The Yankees lead the best-of-seven-game Series 2-1.

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Yankees Lead Phillies 2-1 in First Inning of Baseball World Series Game 4

November 1, 2009

By Larry Siddons Nov. 1 (Bloomberg) — The Philadelphia Phillies closed within 2-1 of the New York Yankees in the first inning of Game 4 of baseball’s World Series. The Yankees lead the best-of-seven-game Series 2-1.

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New York Yankees Defeat Phillies 8-5 to Take 2-1 Lead in World Series

November 1, 2009

By Erik Matuszewski Nov. 1 (Bloomberg) — The New York Yankees beat the Philadelphia Phillies 8-5 to take a 2-1 lead in the World Series as Andy Pettitte picked up his 17th playoff win and drove in the first championship run by a Yankee pitcher in 45 years. The Yankees rallied from an early three-run deficit at Citizens Bank Park in Philadelphia as Alex Rodriguez , Nick Swisher and Hideki Matsui all hit home runs to back Pettitte, whose run-scoring single in the fifth inning tied the game. The team that’s won Game 3 to take a 2-1 lead has won nine of the past 10 World Series, the exception being the Yankees in 2003 against the Florida Marlins. The fourth game in Major League Baseball’s best-of-seven championship series is scheduled for today in Philadelphia, where Joe Blanton will start for the Phillies against the Yankees’ CC Sabathia . Sabathia was the losing pitcher in Game 1 after winning his first three playoff starts. Blanton has no record and a 4.66 earned run average in three playoff appearances, including one start. After a one-hour, 20-minute rain delay last night, the Phillies scored three runs in the second inning off Pettitte, with Jayson Werth leading off the inning with the first of his two home runs. Phillies Lead Early Pedro Feliz doubled with one out, Carlos Ruiz walked and Hamels followed by dropping down a bunt that went for a hit between Pettitte and catcher Jorge Posada . With the bases loaded, Pettitte walked Rollins to force in a run and Shane Victorino’s sacrifice fly drove in another. Pettitte had allowed only three earned runs in his previous three World Series starts. A promising start for Philadelphia’s Cole Hamels unraveled after three no-hit innings. The Yankees pulled within 3-2 in the fourth inning, when Rodriguez snapped his 0-for-8 World Series start with an opposite-field, two-run homer off Hamels after a leadoff walk to Mark Teixeira . Rodriguez stopped at second base after the ball struck a television camera on top of the right-field fence and came back into play. The umpires ruled it was a homer after the first use of instant replay in a playoff game. Major League Baseball instituted the use of replay last year to review home run calls. It was the 66th use of replay and the 23rd play to be overturned. It was Rodriguez’s sixth home run of the postseason, tying a franchise playoff record set by Bernie Williams in 1996. It was also the Yankees’ 17th homer of the playoffs, surpassing the team’s previous high of 16 set in 1996, 2001 and 2003. Yankees Take Lead The Yankees scored three more runs in the fifth, a rally initiated by a leadoff double by Nick Swisher , who was hitting .114 in the playoffs. Pettitte, a career .134 hitter, then tied the score by slapping a one-out single that dropped in front of Victorino in left-center field. The last Yankee pitcher to drive in a run during the World Series was Jim Bouton in 1964. Derek Jeter dumped another single in front of Victorino and Johnny Damon roped a double to the right-centerfield gap that scored both Pettitte and Jeter. Hamels, the Most Valuable Player of last year’s World Series, was replaced by reliever J.A. Happ after allowing five runs in 4 1/3 innings. Swisher’s homer pushed the Yankees’ lead to 6-3 in the sixth before Werth answered in the bottom of the inning with his second homer that hit the facing of the second deck in left field. It gave Werth seven homers this postseason, breaking a team record set by Lenny Dykstra in 1993. Pettitte had given up just two homers in 66 innings of World Series play entering the game. Matsui’s Homer Posada had a two-out, run-scoring single in the seventh and Matsui added a pinch-hit homer in the eighth. It was the eighth time a Yankee had a pinch-hit homer in the World Series and the first since Jason Giambi in 2003. Ruiz homered for the Phillies in the ninth before reliever Mariano Rivera came in to get the final two outs and clinch the Yankees’ win. Pettitte allowed four runs over six innings for his record- extending 17th playoff win and fourth in the World Series. The Yankees are seeking their record-extending 27th world championship and first since 2000, while the Phillies are looking to become the first National League team to repeat as World Series champions since the Cincinnati Reds in 1975-76. To contact the reporter on this story: Erik Matuszewski at Citizens Bank Park in Philadelphia at matuszewski@bloomberg.net

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World Series Games Worth $15.5 Million Each to New York City Businesses

October 28, 2009

By Henry Goldman and Aaron Kuriloff Oct. 27 (Bloomberg) — Each World Series game played at Yankee Stadium adds $15.5 million to the New York City economy, according to an estimate by the city’s Economic Development Corp. The New York Yankees could play as many as four games against the Philadelphia Phillies in the new, $1.5 billion Bronx stadium, each worth about 30 percent more to city businesses than an ordinary Major League Baseball playoff game, according to David Lombino , a spokesman for the corporation. More fans visit overnight during the title round than during the earlier playoffs, more press attend and fans spend more, Lombino said in an e-mail. The EDC is a city-owned corporation that owns and leases property and finances private projects intended to create jobs and stimulate the city economy. It estimated this month that each playoff game already played in earlier rounds was worth $6.7 million in direct spending and $11.9 million in total economic impact to the city. That includes money spent by visitors, players and media on hotels, retail, transportation and dining, assuming that about 34,000 people attend the game who don’t live in the city, the analysis said. It also estimated the indirect economic impact, such as workers spending money earned at the stadium, at $5.2 million. Victor Matheson, who teaches sports economics at the College of Holy Cross in Worcester, Massachusetts, said the World Series may just bring in money originally destined for elsewhere in the city’s economy. “When New Yorkers spend their money on World Series games, they’re not spending as much on Broadway shows,” Matheson said in an interview. To contact the reporter on this story: Henry Goldman in New York at hgoldman@bloomberg.net ; Aaron Kuriloff in New York at akuriloff@bloomberg.net .

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Yankees Get Money’s Worth at New Stadium With Record Home-Field Advantage

October 28, 2009

By Erik Matuszewski Oct. 28 (Bloomberg) — The New York Yankees are getting their money’s worth out of their new $1.5 billion ballpark. They’ve won 57 times at Yankee Stadium this season to tie a Major League Baseball record for a team in a new ballpark, while they are 5-0 at home in the playoffs and 36-8 in New York since the All-Star break. The Yankees host the defending-champion Philadelphia Phillies in Game 1 of the World Series tonight with designs on becoming the second franchise since 1923 to open a stadium with a World Series title. “I don’t think our players feel invincible, but we feel this park is good for us,” manager Joe Girardi said in advance of the Yankees’ workout yesterday. “We’ve had a lot of great things that have happened in this ballpark late in games. That’s a good feeling.” In the past 86 years, the only team to win a World Series title in its first year in a new stadium was the St. Louis Cardinals in 2006. Before the 1923 Yankees, who claimed the championship in their first year at the old Yankee Stadium, the last team to do it was the 1912 Boston Red Sox. The Yankees spent 85 years in their former home, appearing in 37 World Series and winning a record 26 titles behind Hall of Fame players such as Babe Ruth , Lou Gehrig , Joe DiMaggio , Mickey Mantle , Yogi Berra and Reggie [bn:PRSN=1] Jackson. [] Home Wins The shell of the old stadium still stands, just across the street from the new park. After beginning this season with a 6-7 record at the new stadium, New York has gone 56-17 since Alex Rodriguez recovered from hip surgery. “There’s definitely a special mystique when you walk into Yankee Stadium, new or old,” said Phillies outfielder Jayson Werth , whose stepfather Dennis played for the Yankees from 1978- 81. “It’s the cathedral of baseball. It’s where everybody wanted to play as a kid.” The Yankees had 36 comeback victories at home this year, breaking the franchise-record of 32 set by the 1932 Yankees championship team, according to the Elias Sports Bureau, baseball’s official statistician. This season’s team won 15 times at Yankee Stadium in the game’s final at-bat, the most in the majors. Extending their home success in Game 1 may be a crucial first step in the Yankees’ quest for a 27th championship. Teams winning the opening game have won six consecutive World Series titles and 11 of the past 12. “It’s a great thing going to the World Series in the first year of a new stadium,” Yankees outfielder Nick Swisher told MLB.com . “To be able to make memories of our own is a wonderful way to start this off.” Game 1 Starters CC Sabathia will pitch Game 1 for the Yankees against Cliff Lee , his former teammate with the Cleveland Indians. Sabathia and Lee have a combined 0.96 earned run average this postseason and exchanged text messages in advance of today’s showdown. “A couple years ago we were talking about maybe pitching in a World Series together, now we’re in different clubhouses,” said Sabathia, who threw the first pitch at Yankee Stadium this season. “It’s just a little weird, but it’ll be fun.” Lee is 2-2 with a 5.91 ERA at Yankee Stadium, and in his only start at the park this year allowed one run over six innings while with Cleveland. In Game 2 tomorrow in New York, the Phillies will turn to Pedro Martinez , who had a career 8-4 record with a 2.95 ERA in 16 career starts at the old Yankee Stadium while pitching for the New York Mets and Red Sox. He’ll be opposed by A.J. Burnett . The best-of-seven series then shifts to Philadelphia before returning to New York for a sixth and seventh game, if necessary. The Phillies are 11-1 at Citizens Bank Park over their past five postseason series. Home Run Hitters In addition to pitching, power may play a pivotal role in determining the champion. The Yankees and Phillies combined for 468 home runs this season, the most for two teams entering the World Series. The Yankees set a franchise-record with a major league-high 244 homers, while the Phillies led the National League with 224. The teams hit 12 homers — six each — during a three-game series at Yankee Stadium in May, when the Phillies won twice. “I don’t think those games really hold a lot of weight at this time of year,” said Werth, who has five homers this postseason. “But we went 2-1 there, so we feel comfortable going into Yankee Stadium.” To contact the reporter on this story: Erik Matuszewski in New York at matuszewski@bloomberg.net

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Phillies Beat Dodgers 10-4 to Win National League Title, Make World Series

October 22, 2009

By Vince Golle Oct. 22 (Bloomberg) — Home runs by Jayson Werth , Pedro Feliz and Shane Victorino helped the Philadelphia Phillies rout the Los Angeles Dodgers 10-4 and return to the World Series. The Phillies closed out the best-of-seven-game National League Championship Series 4-1 to become the first team to reach the World Series in consecutive years since the New York Yankees in 2000 and 2001. The Phillies will defend their title against the Yankees or the Los Angeles Angels, who resume their American League series today with New York leading 3-1. Werth smacked a three-run homer in the first inning and added a solo shot in the seventh for the Phillies, whose 224 home runs during Major League Baseball’s regular season were the most in the NL. The Phillies and Dodgers combined for seven home runs last night at Citizens Bank Park in Philadelphia. “I got a pitch to hit and I hammered it,” Werth said of his first-inning homer in a televised interview. “Hopefully we can keep it going. We got four more games to win.” It was the second straight year the Phillies beat the Dodgers 4-1 in the NLCS. Dodgers starting pitcher Vicente Padilla and the Phillies’ Cole Hamels struggled early, with each surrendering a pair of home runs through the first two innings. Hamels was relieved in the fifth inning after giving up a third solo homer, while Padilla lasted just three innings. Bullpen Struggles Manager Joe Torre turned to a Dodgers bullpen that provided little help. Five Los Angeles relief pitchers gave up two homers, four runs, a pair of walks and hit three batsmen. Phillies relievers allowed just one run on three hits and Ryan Madson was able to work himself out of a bases-loaded jam in the eighth inning. The Dodgers struck first, courtesy of a solo home run by Andre Ethier in the opening inning. Werth, who went 3-for-4 with four runs batted in, responded for the Phillies with his three-run homer. Padilla struggled early with his control, giving up walks to Chase Utley and NLCS Most Valuable Player Ryan Howard , who both scored on Werth’s home run to right field. Los Angeles made it 3-2 in the second inning on James Loney’s solo home run to right field and Philadelphia’s Feliz answered with his own homer to give the Phillies a 4-2 lead. Werth singled in the fourth inning and scored on a Raul Ibanez double to right-centerfield to extend the Phillies’ lead to 5-2 and end Padilla’s night. Padilla Falters Padilla gave up six runs on four hits in three innings, compared with four hits and one run while striking out six in 7 1/3 innings in Game 2, which the Dodgers won 2-1. Ramon Troncoso replaced Padilla with no outs in the fourth and never got out of the inning. After loading the bases, he was relieved by George Sherrill , who hit Shane Victorino to force in the Phillies’ sixth run. Orlando Hudson , pinch hitting, smacked a solo home run to left field in the fifth inning, cutting Philadelphia’s lead to 6-3. Rafael Furcal followed with a double to left, prompting Phillies manager Charlie Manuel to relieve Hamels. Victorino hit a two-run home run to left field in the sixth inning to extend Philadelphia’s lead to 8-3 and Werth followed in the seventh with his second homer of the night before Jimmy Rollins wrapped up the scoring in the eighth on a wild pitch by Ronald Belisario . To contact the reporter on this story: Vince Golle in Washington at vgolle@bloomberg.net

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Baseball Replays in Postseason Would Make `Robots’ of Umpires, Union Says

October 21, 2009

By Michael Buteau Oct. 21 (Bloomberg) — Blown calls by umpires in Major League Baseball’s postseason are part of the game and shouldn’t open the door to instant replay, the head of the officials’ union said. Using video to review plays such as tags and whether a ball is fair or foul would interfere with the pace of games and turn umpires into “robots,” according to Lamell McMorris , chief negotiator for the World Umpires Association. McMorris said he and the union remain opposed to expanding use of replays, even after television video has shown several cases of umpires making the wrong calls since MLB’s postseason started two weeks ago. Three blown calls occurred in last night’s 10-1 win by the New York Yankees over the Los Angeles Angels in Game 4 of the American League Championship Series. “Not only is pace of game an issue but the continued expansion of replay potentially takes away from the spirit of the game,” McMorris said today in a telephone interview. “Part of the game is the potential for human error, not just from umpires, but players, that’s part of the spirit of the game. It happens.” During the Yankees’ win, second base umpire Dale Scott called New York’s Nick Swisher safe on a pickoff play in the fourth inning. Replays on television showed that Angels shortstop Erick Aybar tagged Swisher before he was able to get back to the base. Later that inning, crew chief Tim McClelland called Swisher out for leaving third base too soon on a Johnny Damon fly ball to center field, resulting in an inning-ending double play. Television replays appeared to show that Swisher didn’t leave early. Call From ‘Heart’ “In my heart, I thought he left too early,” McClelland said after the game. “But replays show that he didn’t.” One inning later, McClelland was at the center of an unusual rundown play involving New York’s Jorge Posada and Robinson Cano . After Angels catcher Mike Napoli ran Posada back to third base, he tagged both Posada and Cano, who was standing just off third. McClelland ruled that only Posada was out. McClelland said he thought Cano was on the base. “I did not see that for whatever reason,” the umpire said. “I’m just out there trying to do my job and do it the best I can. Unfortunately, there were two missed calls.” The Yankees benefited from a blown call in the first round of the playoffs against Minnesota, when left-field ump Phil Cuzzi called a ball hit by the Twins’ Joe Mauer foul. TV replays showed the ball was fair by a foot. Replay Use Baseball allows umpires to use replays to review and overturn calls on whether a ball clear the outfield fence for a home run. Umpires also routinely review replays of close calls after games, and McMorris is opposed to allowing for such reviews during play. “Unless you guys are going to put robots out there, we’re all subject to the human whims,” he said. “That’s part of the deal. We’re part of the video-game culture where we think we can control every outcome.” As for whether umpires who make such mistakes should lose the opportunity to work during the World Series, McMorris said that decision is up to baseball officials. “We hope that every umpire would be judged fairly, not just by one call, but their performance overall,” McMorris said. To contact the reporter on this story: Michael Buteau in Atlanta at mbuteau@bloomberg.net

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Alex Rodriguez Helps Put Yankees One Win Away From Baseball’s World Series

October 21, 2009

By Erik Matuszewski Oct. 21 (Bloomberg) — Alex Rodriguez blasted his fifth home run of the postseason as the New York Yankees defeated the Los Angeles Angels 10-1 to move within one win of reaching the World Series. CC Sabathia allowed one run over eight innings yesterday at Angel Stadium in Anaheim, California, to pick up his third playoff win for the Yankees, who took a 3-1 lead in the best-of- seven American League Championship Series. “He’s a monster,” said Rodriguez, who finished 3-for-4 and scored three runs. “We’re lucky to have him.” Rodriguez scored the Yankees’ first run during a three-run fourth inning and added a two-run homer in the fifth for New York, who can close out the Major League Baseball postseason series tomorrow with a Game 5 win in Anaheim. A.J. Burnett will pitch for the Yankees, who last made the World Series in 2003, while John Lackey starts for the Angels. “We know what’s in front of us,” Angels manager Mike Scioscia said during a post-game news conference. “It’s a terrific challenge and our guys are going to be ready. You’re not out of it until you lose four games.” The Philadelphia Phillies have a chance to return to the World Series when they host the Los Angeles Dodgers today in Game 5 of the National League Championship Series. The defending world-champion Phillies have a 3-1 lead in the series and will send Cole Hamels to the mound against the Dodgers’ Vicente Padilla . Sabathia’s Postseason Sabathia yesterday pitched on three days rest for the sixth time in his nine-year career and allowed only a solo homer by Kendry Morales against an Angels lineup that scored the second- most runs in the majors this season. “He was spectacular again,” Yankees manager Joe Girardi said. “To be able to shut down this team is no easy feat.” Sabathia, who joined the Yankees with a $161 million contract during the offseason, is now 3-0 with a 1.19 earned run average in three playoff starts. Melky Cabrera helped with the offensive support, driving in four runs, while Rodriguez homered for the third straight game. Baseball’s highest-paid player, Rodriguez has driven in at least one run in eight straight playoff games to tie a record set by the Yankees’ Lou Gehrig in 1928 and 1932, and matched by Ryan Howard of the Philadelphia Phillies this year. “He’s in a zone right now,” Girardi said. “He’s locked in and every at-bat is a good at-bat.” Johnny Damon added a two-run homer in the eighth inning — the Yankees’ 14th of the postseason — and New York tacked on three more runs in the ninth. Another Early Lead After blowing a 3-0 lead during a 5-4, 11-inning loss in Game 3, the Yankees struck for three runs in the fourth inning against Angels starting pitcher Scott Kazmir . Rodriguez scored on a fielder’s choice, sliding under a high throw at home plate, and Cabrera drove in two more runs with a bases-loaded single. A fourth run was taken off the scoreboard when the umpiring staff ruled that Nick Swisher left third base early while attempting to score on a sacrifice fly, resulting in an inning- ending double play. Kazmir, a two-time All-Star acquired from Tampa Bay in August to bolster the Angels’ staff, allowed four runs over four innings on six hits and four walks. After the Yankees blew a three-run lead for the first time in 31 ALCS games yesterday, Rodriguez helped ensure it wouldn’t happen again by blasting a two-run homer in the fifth inning off reliever Jason Bulger to extend the lead to 5-0. Morales’s fifth-inning homer pulled the Angels within 5-1. It was all they’d get as Sabathia recorded his 13th road win of the season, the most by a Yankee pitcher since Ron Guidry , who also had 13 in 1978. “This is the time to do it,” Sabathia said. “I feel good and hopefully I can keep it going, keep it rolling and we can win the whole thing.” To contact the reporter on this story: Erik Matuszewski in New York at matuszewski@bloomberg.net

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Yankees Open Stadium to Let Fans Watch Broadcast of Third Angels ALCS Game

October 18, 2009

By Dex McLuskey Oct. 18 (Bloomberg) — New York Yankees fans will be able to watch the broadcast of the third game of the American League Championship Series at Yankee Stadium tomorrow. Supporters will be able to gather in the Field Level or Great Hall at the stadium for the game against the Los Angeles Angels at Anaheim, California. “We wanted to provide a place for our fans to come together to cheer for our team even if the game itself is taking place across the country,” Yankees owner Hal Steinbrenner said in an e-mailed statement from the team. Access will be available at turnstiles between gates four and six from 3:30 p.m. for the game, which begins at 4:13 p.m. local time. Food and concession stands will be open. The Yankees yesterday took a 2-0 lead in the series with a 4-3 win in 13 innings at Yankee Stadium. Since the best-of-seven playoff format was adopted by Major League Baseball in 1985, 17 of 20 teams to take a 2-0 lead in a league championship series have reached the World Series. To contact the reporter on this story: Dex McLuskey in Dallas at dmcluskey@bloomberg.net

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Yankees Win ALCS Opener Behind Sabathia 4-1; Dodgers Rally Past Phillies

October 17, 2009

By Erik Matuszewski Oct. 17 (Bloomberg) — The New York Yankees scored two first-inning runs and then rode the left arm of CC Sabathia to a 4-1 win over the Los Angeles Angels in the opening game of the American League Championship Series. The Los Angeles Dodgers rallied for a 2-1 victory over the Philadelphia Phillies in yesterday’s first playoff game, scoring two runs in the eighth inning at Dodger Stadium to tie the National League Championship Series at one game each. Sabathia limited Major League Baseball’s second-highest scoring team to just one run over eight innings at Yankee Stadium and Hideki Matsui drove in two runs as New York improved to 4-0 in the postseason. “You pitch eight innings against this club and only give up one run, that’s an impressive performance,” Yankees manager Joe Girardi said of Sabathia during his post-game news conference. “He kept the guys who can create problems off base all night. He was sensational.” Game 2 in the best-of-seven Major League Baseball series is scheduled for tonight in New York. Heavy rain from a second nor’easter moving through the area might force the game to be pushed back to tomorrow. The NLCS moves to Philadelphia for Game 3 tomorrow. Yankees Score Early With a light rain falling and a temperature of 45 degrees Fahrenheit (7.2 Celsius) in New York, the Yankees struck for two runs in the first inning against Angels starting pitcher John Lackey . Derek Jeter and Johnny Damon led off with singles and moved up a base on a throwing error by Juan Rivera. Alex Rodriguez’s sacrifice fly scored Jeter with the first run and Damon came home when a towering pop-up by Matsui fell in front of Angels shortstop Erick Aybar after he and third baseman Chone Figgins misplayed it in the swirling winds. “Just a miscommunication on the pop-up,” Angels manager Mike Scioscia said during a news conference. “You can chalk up the weather. The wind pushed that ball back.” The Angels got their lone run in the top of the fourth inning, when Vladimir Guerrero doubled to the wall in left- center field and scored on a two-out single by Kendry Morales. The Yankees pushed their lead to 3-1 in the fifth inning, when Damon had a leadoff double and scored on a double by Matsui to the left-centerfield gap. Rodriguez, who had walked ahead of Matsui, was thrown out at home trying to score on the play. Jeter’s two-out single in the sixth inning gave the Yankees a 4-1 lead. He drove in Melky Cabrera, who had walked with two outs, moved to second on an errant pickoff attempt by Lackey and scored easily as centerfielder Torii Hunter let Jeter’s hit skip off his glove for the Angels’ third error. “We took advantage of a couple of miscues and offensively we had some real timely hits,” Girardi said. Sabathia’s Show With a crowd of 49,688 chanting “CC, CC,” Sabathia struck out Mike Napoli to end the seventh inning and then shouted and pumped his fist before walking off the pitcher’s mound. “I don’t usually show a lot of emotion, but I was pretty pumped up right there,” Sabathia said. “It just came out.” The 29-year-old Sabathia, who signed a $161 million contract with the Yankees during the offseason, has allowed two earned runs over 14 2/3 innings in the playoffs, issuing just one walk and striking out 15. “We didn’t get anything going offensively, that was obvious,” Scioscia said. “They pitched well and that was the ballgame.” Mariano Rivera retired the Angels in the ninth inning to clinch the win and collect his record-extending 36th career postseason save. In 39 previous ALCS matchups, the Game 1 winner has advanced to the World Series 23 times. Bases-Loaded Walk In Los Angeles, Russell Martin scored the winning run at Dodger Stadium when Phillies relief pitcher J.A. Happ walked Andre Ethier with the bases loaded. Philadelphia’s Pedro Martinez pitched seven shutout innings, giving up just two hits before Phillies manager Charlie Manuel turned the game over to his bullpen with a 1-0 lead. Five Phillies relievers gave up three hits and two walks in the eighth inning. With runners on first and second, Martin grounded into a fielder’s choice. Ronnie Belliard was thrown out at second and Juan Pierre scored to tie the game on Chase Utley’s throwing error to first base. After a single and a walk loaded the bases with two outs, Happ walked Martin on a full-count pitch to force in the winning run. “This was a tough loss, and it’s a big loss in a way,” said Phillies manager Charlie Manuel, “but we’ve bounced back before, and we’ll bounce back again.” To contact the reporter on this story: Erik Matuszewski at Yankee Stadium in New York at matuszewski@bloomberg.net

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Twenty-Year Wait for Earthquake Protection Keeps San Franciscans on Alert

October 16, 2009

By Jeran Wittenstein and Ryan Flinn Oct. 16 (Bloomberg) — Jason Henderson keeps a hatchet and crowbar stashed in a closet of his sixth-floor apartment in San Francisco, so he can pry his way out if an earthquake topples the building. “It will definitely slump, or cave in on the ground floor,” said Henderson , 37, an assistant professor at San Francisco State University . “If it’s an 8, we’re all doomed.” Two decades after the magnitude 6.9 Loma Prieta earthquake killed 63 people and caused $7.8 billion in damage, San Francisco still has thousands of buildings that aren’t properly fortified, according to a draft of the city’s Community Action Plan for Seismic Safety released earlier this year. Infrastructure also is vulnerable: It will take about four more years to complete the $5.49 billion replacement of the eastern span of the San Francisco-Oakland Bay Bridge and the reinforcement of miles of aerial track carrying hundreds of thousands of Bay Area Rapid Transit District train commuters. “If the earthquake happened today, we would have problems,” said Tom Brocher, 55, chief scientist for the U.S. Geological Survey’s earthquake hazards team. “We still need to do a lot of work for mitigating earthquakes, making our homes and businesses stronger.” The approaching Loma Prieta anniversary and natural disasters around the world are triggering concern about another earthquake in the San Francisco area, said Laura Adleman, a spokeswoman for the city’s Department of Emergency Management . Web Site Traffic Traffic on San Francisco’s earthquake-preparedness Web site, www.72hours.org , rose to 11,200 visits in the week ended Oct. 6, a 45 percent increase from the previous week, she said. A tsunami hit South Pacific’s Samoan region Sept. 29, and the next day a 7.6-magitude temblor off Indonesia’s Sumatra island leveled homes, mosques and hotels in the coastal city of Padang. It killed 1,100 people, Indonesia’s disaster management agency estimated. Eight days later, a 6.8 earthquake occurred off the South Pacific island of Vanuatu. Seismologists say that activity doesn’t signal an increased risk in California. “We really don’t think what’s going on over there will be able to trigger anything on this side of the world,” said John Parrish, a state geologist in Sacramento. Most earthquakes occur along the boundaries of tectonic plates, when tension along the fault lines causes a sudden shift, he said. Some people living in the city that has been hit by six earthquakes of magnitude 6.5 or more since 1812 aren’t reassured. “Seeing any natural disaster on the news makes me nervous,” said Eileen O’Malley, 35, a resident of San Francisco’s Bernal Heights neighborhood. Ready for Disaster She keeps an earthquake preparedness kit in her apartment like the ones sold by Chris McCloy, owner of Disaster Survival Solutions LLC in South San Francisco. Traffic on its Web site has more than doubled this month, he said. “As soon as an event like that happens, we get a flood of visitors,” McCloy said. “Let’s face it, that event 20 years ago was unbelievably traumatic for many bay area residents, and I think people want to get prepared.” Loma Prieta struck Oct. 17, 1989, minutes before the scheduled start of the third game of baseball’s World Series at Candlestick Park in San Francisco between the San Francisco Giants and Oakland Athletics . Its epicenter was near Loma Prieta mountain, about 60 miles (90 kilometers) south of San Francisco. Damage Estimate The quake caused about $6 billion of property damage and about $1.8 billion in damage to the area’s transportation system, according to the geological survey’s Earthquake Center Web site. “By the time those shock waves arrived in the bay area, they had attenuated somewhat,” said Molly McArthur , division manager for BART capital projects. “If that same shock wave occurred in our own backyard, there could be a tragically different result.” The transit agency began work in 2005 on an earthquake safety program scheduled to finish in 2013 that is reinforcing 22 miles of aerial tracks and 18 stations and making improvements to the Transbay Tube that carries trains under the bay, connecting San Francisco to Oakland , McArthur said. Some tube improvements are complete and seven construction projects are under way, she said. BART’s weekday ridership averaged 332,000 people in July, said Luna Salaver, a spokeswoman. The San Francisco Bay area sits over the San Andreas and Hayward fault lines, according to the U.S. geological agency’s web site. Hayward’s Danger The Hayward, stretching south from San Pablo to Fremont, is the most dangerous fault in the region because it’s closer to densely populated areas and hasn’t had a major quake in more than 140 years, said Peggy Hellweg, a research geophysicist at the University of California, Berkeley’s Seismological Laboratory. It runs under Oakland, Berkeley, Hayward and Richmond. In San Francisco’s Hayes Valley neighborhood, Henderson lives in what’s called a soft-story structure, meaning it has large openings on the first floor. Henderson’s has a parking garage, while others house shops or restaurants on ground level. Soft-story structures typically are wood-framed, have no partitioning walls and are more than 35 years old. During a strong quake, the lower floor may not be able to support the stiff, heavier floors above, leading the building to shift sideways or collapse, according to the draft report. It says 4,400 soft-story buildings in the city would be at risk in a strong quake. Retrofit Law Mayor Gavin Newsom directed the city’s Building Inspection Department to craft a law requiring owners to retrofit soft- story properties. The measure is under consideration by the Board of Supervisors. Fixes are necessary to prevent $1.5 billion in damage after a temblor of magnitude of 7.2 or more on the San Andreas fault, according to the city report. Such destruction could leave tens of thousands of people homeless for years, it said. “While the 20th anniversary of Loma Prieta serves as a stark reminder of our region’s vulnerability to earthquakes, it also provides an opportunity to encourage our residents to make emergency preparedness a part of their everyday lives,” Newsom wrote in an e-mail. The University of California, Berkeley’s Memorial Stadium also faces earthquake-proofing. The Hayward fault runs directly under the 86-year-old football stadium, which holds 72,000 spectators. A $300 million renovation is proposed for completion in 2012. “The odds of being in Memorial Stadium on one of the five home games when an earthquake hits is slim,” said Greg Glass, a 46-year-old Burbank resident, at a game this month. “If I had to live in Memorial Stadium, I’d be very concerned.” To contact the reporters responsible for this story: Jeran Wittenstein in San Francisco at jwittenstei1@bloomberg.net .; Ryan Flinn in San Francisco at rflinn@bloomberg.net .

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Mantle-Maris Reborn: Yankees Target Title as Home Runs Fly at Record Pace

October 15, 2009

By Erik Matuszewski Oct. 16 (Bloomberg) — The New York Yankees lived up to their longtime nickname of Bronx Bombers this season and now aim to continue their power trip against the Los Angeles Angels in the American League Championship Series. The Yankees blasted a postseason-high six home runs in their opening-round sweep of the Minnesota Twins after leading Major League Baseball with a franchise-record 244 homers during the regular season. No team has won the World Series after leading the majors in home runs since the 1984 Detroit Tigers. The Yankees, who most recently did it in 1961 with a lineup that included Roger Maris and Mickey Mantle, now face an Angels team that hit 71 fewer homers while posting baseball’s best batting average and third-most stolen bases. “We’ve got two different teams, more of a speed team compared to a power team,” Yankees outfielder Nick Swisher , 28, said in an interview. “We’re definitely going to find out what we’re made of.” The Yankees have three times better odds of winning the World Series than each of the other remaining playoff teams. The Yankees have a 50 percent chance of capturing their 27th World Series championship, while the Angels, Los Angeles Dodgers and Philadelphia Phillies each have a 16.6 percent chance, said RJ Bell, president of Las Vegas-based handicapping information Web site Pregame.com . The Yankees have a 63 percent chance of beating the Angels in the best-of-seven ALCS, Bell said. The Philadelphia Phillies won 8-6 at the Los Angeles Dodgers in the opening game of the National League Championship Series last night. Pitching, Power The Yankees’ lineup that has seven players with more than 20 homers each is complemented by some of the top pitchers in the league. The franchise spent $243.5 million in the offseason on CC Sabathia and A.J. Burnett , who allowed two earned runs over 12 2/3 innings in the opening two games of the playoffs. The Yankees’ power also played a pivotal role in the division series against the Twins. Derek Jeter and Hideki Matsui homered in Game 1 at Yankee Stadium as New York overcame a 2-0 deficit in a 7-2 win. Alex Rodriguez hit a game-tying two-run homer in the bottom of the ninth inning in Game 2 and the Yankees won 4-3 on Mark Teixeira’s solo homer in the bottom of the 11th. In the series finale in Minneapolis, Rodriguez and Jorge Posada homered in the seventh inning as the Yankees erased a 1-0 deficit and went on to a 4-1 win. “Everybody here has power,” said Yankees second baseman Robinson Cano , who hit 25 homers during the regular season. “Anyone can hit a home run to tie the game or go ahead. You don’t have to wait for one or two guys. Everybody can contribute.” Teixeira Leads Team Teixeira, who joined the Yankees with a $180 million contract in December, tied for the AL lead with 39 homers this season. Rodriguez hit 30 homers after missing the start of the season following hip surgery, while Swisher, another new acquisition, hit 29. Matsui had 28 home runs, followed by Cano with 25, Johnny Damon with 24 and Posada with 22. Jeter just missed, with 18. The Yankees’ new $1.5 billion stadium surrendered the most homers in the majors this year, with 237, including 136 by the home team. “If we’re within one or two runs, we know we’ve got a good chance of winning the game,” Burnett, 32, said in an interview. “I’ve never seen a lineup like this. We’ve got bangers from one to nine. It’s pretty impressive.” M&M Boys In 1961, Maris hit 61 homers to break Babe Ruth’s single- season record while Mantle had 54. That team had 240, with pitchers, not designated hitters, in the lineup. The Yankee lineup in the 1920s featuring Hall of Fame players Babe Ruth and Lou Gehrig became known by the term “Murderer’s Row.” The 1927 team won the World Series after leading the league with 158 homers, more than twice the number of 14 of the other 16 teams. The 1928 Yankees also led the majors in homers and then won the World Series. This year’s team is attempting to etch its place in baseball history and possibly earn a nickname of its own. “Instead of a ‘Murderer’s Row’ at the old stadium,” said Swisher, “we have a ‘Death Row’ here.” To contact the reporter on this story: Erik Matuszewski at Yankee Stadium in New York at 8797 or matuszewski@bloomberg.net

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Phillies Get NL Championship Series Under Way With 8-6 Win at Dodgers

October 15, 2009

By Nancy Kercheval Oct. 16 (Bloomberg) — Raul Ibanez hit a three-run homer in the eighth inning as the Philadelphia Phillies beat the Los Angeles Dodgers 8-6 in the first game of Major League Baseball’s National League Championship Series. Ibanez gave the defending World Series champions an 8-4 lead at Dodger Stadium. Russell Martin drove in Ryan Howard and Ronnie Belliard in the bottom of the eighth to cut the deficit to two before Brad Lidge allowed one hit in the ninth inning to get the save for the Phillies. “They’re never easy,” Lidge said in a televised interview. “The Dodgers have come from behind a lot this year.” The teams meet again today in the best-of-seven series for the NL title. In 14 of the past 17 NL series, the winner of the first game has advanced to the World Series. The New York Yankees and Los Angeles Angels open the American League Championship series tonight at Yankee Stadium. The Phillies, trailing 1-0 after James Loney struck a homer in the first inning, pulled clear of the Dodgers with a five-run fifth inning as Carlos Ruiz hit a three-run homer before Howard got a two-run double. The Dodgers closed the gap to one run in the bottom of the fifth when Andre Ethier scored Martin and Manny Ramirez got a two-run homer that also scored Ethier. In the eighth, Dodgers reliever George Sherrill walked Howard and Jayson Werth to set up Ibanez’s three-run homer. “I was trying to stroke the ball,” Ibanez said. “Fortunately I got the ball in the air and out of the park.” Cole Hamels gave up eight hits and four runs, including two home runs, in 5 1/3 innings for the win, walking one and striking out four. Clayton Kershaw , who took the loss after allowing four hits and five runs in 4 2/3 innings, walked five while Sherrill walked two, which Dodgers manager Joe Torre said turned out to be crucial. “We gave away too much as far as the walks we issued,” Torre said. “Seven walks are hard to overcome.” To contact the reporter on this story: Nancy Kercheval in Washington at nkercheval@bloomberg.net .

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Dodgers’ CEO McCourt `Unequivocally’ Wants to Play Yankees in World Series

October 15, 2009

By Michael Buteau and Kathleen Hays Oct. 15 (Bloomberg) — Jamie McCourt has just one opponent in mind for her Los Angeles Dodgers to face if they reach the World Series: the New York Yankees. “Unequivocally,” McCourt, the Dodgers’ chief executive officer, said in an interview on Bloomberg Radio. “That’s who I want to face. They’re the childhood team that I revered.” First, the Dodgers will have to get past the Philadelphia Phillies in the National League Championship Series, which begins tonight in Los Angeles. The Phillies beat the Dodgers in last year’s NLCS to advance to the World Series, where they defeated the Tampa Bay Rays for their first Major League Baseball title in 28 years. The winner of the Dodgers-Phillies series faces the winner of the American League Championship Series between the Yankees and the Los Angeles Angels, which begins tomorrow at Yankee Stadium. A Dodgers-Yankees final would draw the most interest, McCourt, 55, said. “It would be fantastic for the entire country from coast to coast,” she said. “It will be great for TV and keep everybody riveted. It would be two centerpiece teams, two icons, two legendary franchises that could have at it. Of course, we will win.” Interest in the playoffs this year helped Time Warner Inc .’s TBS network draw the best one-week ratings in its 33-year history. Almost 4.8 million viewers tuned in for each of 13 division series game, up 11 percent from last year. TBS carries the NLCS, while News Corp .’s Fox has the ALCS as well as the World Series. Last Series The Dodgers last appeared in the World Series in 1988, defeating the Oakland Athletics. The Yankees and Dodgers haven’t faced each other for the championship since 1981, when Los Angeles won in six games. New York beat the Dodgers in six-game series in 1977 and 1978. McCourt, who bought the Dodgers with her husband, Frank McCourt , for $430 million in 2004, grew up in Baltimore and said she mostly followed the Yankees as a kid. She also has other motives for her dream matchup. “It would be so much fun to have Joe Torre get even with the Yankees,” she said of the Dodgers’ manager who joined Los Angeles before the 2008 season after 12 years guiding the Yankees. Torre, 69, led New York to the playoffs in each of his 12 seasons, winning the World Series four times. He rejected the team’s one-year contract offer with incentives linked to postseason success, calling it an “insult,” and later signed with the Dodgers. ‘Greatest Manager’ Torre said this week that he doesn’t plan to manage the Dodgers after his contract expires following the 2010 season. McCourt said she plans to make it hard for him to walk away. “Who wouldn’t want him forever?” she said. “From my vantage point, I’d keep Joe for as long as Joe would stay. I think he’s the greatest manager of all time.” Asked if she would give Torre a front-office job if that’s what it took to keep him, McCourt didn’t hesitate. “I would offer Joe anything that he wanted because I think he’s so important to the game,” she said. To contact the reporter on this story: Michael Buteau in Atlanta at mbuteau@bloomberg.net ; Kathleen Hays in New York at khays4@bloomberg.net .

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