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.
Collaboration: James Stroud '80 and Center Street StudioSee More > 06/01/2015
Collaboration: James Stroud '80 and Center Street StudioSee More > 06/02/2015
Collaboration: James Stroud '80 and Center Street StudioSee More > 06/03/2015
Collaboration: James Stroud '80 and Center Street StudioSee More >
First Nativity School of Worcester Student to Graduate from Holy Cross
When Joao Vickttor “Joveto” De Carvalho ’15 walks across the stage at the College of the Holy Cross Commencement exercises, not only will he be the first member of...05/19/15
‘New Brookings Study Shows Holy Cross Adds Value to Alumni Mid-Career Earnings’
The College of the Holy Cross fares well in new report from the Brookings Metropolitan Policy Program, titled “Beyond College Rankings, a Value-Added Approach to Assessing...05/19/15
‘USA Today Ranks Holy Cross No. 2 Among the 10 Best Roman Catholic Colleges in the Country’
USA Today College
According to USA Today College, the College of the Holy Cross ranks No. 2 among the 10 best Roman Catholic colleges in the country. The article lauds Holy Cross for its...