Imagine if you took a $100 bill, then threw it into an incinerator. Don’t question why you’re doing it, just do it. Imagine doing that once every minute. Every minute, every hour, every day, every week, every month, for an entire year. With that committed devotion to wasting money over a prolonged amount of time, you could throw away over $52 million dollars… and you could also approximate the financial status of the New Jersey Nets.
(More like BROKE-LYN, amIrite?? Hello? Is this thing on?)
Now, to be fair to the franchise, they are not on pace to lose 52 million dollars this year alone. Everything is fine. In fact, they’re not on pace to lose 51 million dollars this year alone. Everything is fine. Are they on pace to lose 50 million this year alone? Um, on that, we have no comment.
The BBC has one of the sweetest gigs in broadcasting. The UK government decided to institute independent public broadcasting and fully funded the network with “television license fees” - nice word for taxes per TV, basically. In other words, since the government doesn’t directly give them any money there’s no incentive whatsoever to be a mouthpiece for Britain (or anybody else, since there’s no advertising). Pretty slick.
(Why yes, it is beautiful. You’ll be staying far away from here.)
That doesn’t exempt the company from frugality, though, which is fair; nobody wants their government funding a bloated calf in the media. All that said, their coverage of this year’s British Open in Scotland is a head-scratcher: 420 traveling staff, zero hotel rooms rented. Huh?
One of the great mysteries of the NBA - right up there with how David Stern gamed the 1985 draft and what species Ervin Johnson is - is how the Memphis Grizzlies haven’t gone bearnipples up yet. Their performance is low, attendance is worse, and we can’t even imagine the horrors on their balance sheet.
(Oh Memphis, that ain’t good.)
We’re obviously not alone in wondering what the Grizzlies’ future holds. In addition to, oh, every NBA fan on the f—ing planet, some rather important people are giving up hope on the team. According to the MEMPHIS BUSINESS JOURNAL, that includes Event Merchandising, Inc.; the company that runs the Grizzlies’ team store at the arena itself.
It gets worse. Read more…