In an article in Bloomberg Businessweek, Victor Matheson, assistant professor of economics at the College of the Holy Cross, sounded off on the Miami Marlins’ controversial owner, Jeffrey Loria. In 2009, Loria finagled a deal to build a new stadium costing $650 million, $490 million of which came directly from the city, and because of payment structures, will cost the county $2.4 billion through the year 2049.
Last year, when the Marlins were on track to a losing season, Loria traded five popular players in order to decrease payroll. Combined, the two moves made fans irate, and cast Loria into an unpopular light.
“Loria’s a profit-maximizing person and we shouldn’t presume that he is looking out for the city,” said Matheson, stating that the economic practice of capitalism is still very much alive in big businesses such as professional sports. “He’s looking out for himself,” he continued, “and the way he does that is by extracting as many dollars as he can from fans, from taxpayers, and from the league in general.”
This ‘Holy Cross in the News’ item by David Cotrone ’13.
Holy Cross Accounting Program Ranks No. 3 in Massachusetts
Accounting Degree Review
The College of the Holy Cross’ accounting program ranks No. 3 in Accounting Degree Review’s “Top 10 Undergraduate Accounting Programs in Massachusetts.” According to...11/10/15
‘Women in Business conference: Holy Cross alumna at Vanity Fair says degree is key to success’
Telegram & Gazette
“Earning a liberal arts degree is the smartest thing a person can do to become successful in the business world,” said Aimee Bell ’88 to the Worcester Telegram...11/05/15
Economist Magazine Places Holy Cross in Top 3 Percent of ‘Best Value’ Ranking
The College of the Holy Cross is No. 36 among 1300 public and private institutions reviewed by the Economist in its first-ever best value rankings, putting the College in the...