Bad Economy hits the Redskins

How exactly are NFL teams feeling the crunch of the economy? I'm not buying it. Just wait and see how much they spend in free agency, meanwhile some guy who works at the stadium is out on the street. F'd up.

I agree. They were not laid off because of the economy, they were fired because they were not wanted anymore.

How exactly are NFL teams feeling the crunch of the economy? I'm not buying it. Just wait and see how much they spend in free agency, meanwhile some guy who works at the stadium is out on the street. F'd up.

That is a pretty good point. I mean hell the NFL has made most of it's money already through their godforsaken exclusive rights deals which should at least account for a solid yearly income from the likes of Ridell, EA Sports, Rebock, Direct TV, and the such. Of course I presume that they don't pay off their exclusive rights deals up front.

I agree. They were not laid off because of the economy, they were fired because they were not wanted anymore.

Well, this isn't something that's happening only with the Redskins. It's happening with several teams and even league offices where I think close to 200 people have been laid off.

This isn't as much about the condition the NFL is currently in, although they are going to fall far short of their projected revenue, it's more so about what they fear is coming down the line.

The cuts in "staff" for NFL teams including the Redskins is not nearly over yet. And don't look closely at the folks working for teams in "lesser sports"; thos folks' jobs are in serious jeopardy.

The Redskins continue to be the cash cow that was mentioned above, but Danny Boy's other ventures are not doing all that well. Six Flags could delcare bankruptcy; buying up American Bandstand has not been a humongous success; Danny Boy is in the fast food business (forget which minor chain he bought about two years ago) and all of the companies in that business sector are seeing "revenue shortfalls".

These Redskins' folks were laid off because times are getting tighter - - not because the Skins don't want them.

Here is the signal that the franchise might not be pulling down as much $$$ as Danny Boy would want:

Ticket Price Reductions.

The Skins have a top-tier stadium price structure and they have some long term commitments from folks with heavy bread for premium seats. If they reduce other ticket prices, they might see a huge cry for relief in the really expensive seats - - and that is a big part of the cash cow's milk production. The Skins do not want to have to reduce ticket prices - - but they may be forced to do just that.

Here is the signal that the franchise might not be pulling down as much $$$ as Danny Boy would want:

Ticket Price Reductions.

The Skins have a top-tier stadium price structure and they have some long term commitments from folks with heavy bread for premium seats. If they reduce other ticket prices, they might see a huge cry for relief in the really expensive seats - - and that is a big part of the cash cow's milk production. The Skins do not want to have to reduce ticket prices - - but they may be forced to do just that.

This is probably off topic(more for parking lot than here), but I think it is a very interesting article:
Economics Essays: Deflation vs Inflation (http://www.economicshelp.org/2008/11/deflation-vs-inflation.html)

Yes seen it. I guess we can afford to keep J. Taylor now. Unbelievable. Skins are worth 1.5B right?


Maybe on paper but not in the real world,with property values sinking fast and hard most of the Skins value is in the stadium and practice facility.This is what I meant on the other thtread when people talk about a new stadium.........ain't happening for a long time,real long.

When Snyder took over this team was not the cash cow it is now. I mean look at all the advertisng all over the stadium. I know the advertising has calmed down a bit during these times but still. He's done a nice job marketing the team. Plus he came up with the local Redskin stores. He has made the team a lot more valuable than when JKC had the team. Now he's lucky to be in this market, that helps.

People were laid off in the NFL offices so naturally this hits the teams too. I'm not surprised. I didn't know John Jefferson worked for the Redskins.

No to almost all of it,sorry nope......no to all of it.see my other post.

The cuts in "staff" for NFL teams including the Redskins is not nearly over yet. And don't look closely at the folks working for teams in "lesser sports"; thos folks' jobs are in serious jeopardy.

The Redskins continue to be the cash cow that was mentioned above, but Danny Boy's other ventures are not doing all that well. Six Flags could delcare bankruptcy; buying up American Bandstand has not been a humongous success; Danny Boy is in the fast food business (forget which minor chain he bought about two years ago) and all of the companies in that business sector are seeing "revenue shortfalls".

These Redskins' folks were laid off because times are getting tighter - - not because the Skins don't want them.

Here is the signal that the franchise might not be pulling down as much $$$ as Danny Boy would want:

Ticket Price Reductions.

The Skins have a top-tier stadium price structure and they have some long term commitments from folks with heavy bread for premium seats. If they reduce other ticket prices, they might see a huge cry for relief in the really expensive seats - - and that is a big part of the cash cow's milk production. The Skins do not want to have to reduce ticket prices - - but they may be forced to do just that.

There may not be an increase in prices, but I am 90% certain there will not be price reduction. There is no need. They have a waiting list in the thousands, the Redskins are the premium sports brand in the region. Let's be clear, for every season ticket holder that doesn't renew, there are five who have been waiting for the chance to buy season tickets.

But lets be real. We are not in the Great Depression. The news makes it seem bleak, but people still gave their kids gifts for Christmas, still flew to see Grandma for the holidays, and still go out to drink, eat, and have a good time, and still will be going to Redskins games, tailgating with friends, and buying merchandise.

Oh, and Giantone, the Skins really are worth $1.5 billion. In the real world.

......But lets be real. We are not in the Great Depression. The news makes it seem bleak, but people still gave their kids gifts for Christmas, still flew to see Grandma for the holidays, and still go out to drink, eat, and have a good time, and still will be going to Redskins games, tailgating with friends, and buying merchandise.

Oh, and Giantone, the Skins really are worth $1.5 billion. In the real world.

Our current "Great Recession" will not hit the "30's Great Depression" type losses only because policymakers learned form the 30's mess. Most of the current great Economists in power like the Fed Chairman Ben Bernanke are students of the Great Depression. Treasury Secretary Henry Paulson remembers the mistakes made by Andrew Mellon the treasury secretary before and during the great depression.
The Great Depression resulted from the end of a housing bubble in 1926 and the end of a high-tech bubble in 1929. But the main reason it reached to such a bad level was from incredible neglect and incompetence/inexperience on the part of policymakers in power at the time. The #1 cause was the Fed's failure to act. It basically stood by as the banking system and the economy collapsed around it.
This time, in contrast, the Fed can hardly be criticized for inaction. Not only has it cut lending rates to all time lows, but it has also thrown a lot of money on the fire. We will be $trillions of dollars further into debt by the end of the 1st quarter of 2009 because of this crisis. This money has been spent to bail out banks, lending institution and large companies (like the big 3 auto companies). This current crisis could have very easily reached Great Depression levels if action was not taken.

Washington DC area is very wealthy and some what insulated from this mess as compared to other parts of the country.
Because you or I have not lost our jobs does not mean this is not a huge economic crisis. 1.9 Million people lost their jobs in 2008 November: Most jobs lost since 1974 - Dec. 5, 2008 (http://money.cnn.com/2008/12/05/news/economy/jobs_november/)
I have several friends in Michigan and Ohio who lost their jobs, houses and have to move to another state to find work.
This economic crisis will continue at least into the 1st half of 2009. According to reports, planned jobs cut announcements for January soared to 181,671, the second-highest total on record. This is far from over.