tag:blogger.com,1999:blog-1256268100133425608.post826112182924551429..comments2023-09-19T11:52:32.730-04:00Comments on Fack Youk: The Quote Of The DayJayhttp://www.blogger.com/profile/04839022142066882411noreply@blogger.comBlogger7125tag:blogger.com,1999:blog-1256268100133425608.post-77249030412453798042009-03-12T10:17:00.000-04:002009-03-12T10:17:00.000-04:00Citi (and the rest of the big banks) make gobs and...Citi (and the rest of the big banks) make gobs and gobs of money. The problem is they have lots of assets that are not worth as much as they were 2yrs ago. Accounting rules force banks to reduce the ledger value of these assets to what they are possibly worth right now. This translates to gobs and gobs of losses- but the money producing revenue stream is still there.<BR/><BR/>Citi and the Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1256268100133425608.post-54239454586171913732009-03-12T00:04:00.000-04:002009-03-12T00:04:00.000-04:00"Fresh Maine lobster last night, front row seats t..."Fresh Maine lobster last night, front row seats tonight.... What recession?" <BR/><BR/>The Yanks should sell the remaining seats for a reduced rate for the season. Or, take their chances by selling them for individual games with the prices going up or down based on demand. Or, they can have a cage match (mud wrestling for the ladies) in the parking lot and let the winner get the in-between Johnhttps://www.blogger.com/profile/11766507413759728558noreply@blogger.comtag:blogger.com,1999:blog-1256268100133425608.post-22257962142083310112009-03-11T17:22:00.000-04:002009-03-11T17:22:00.000-04:00The problem is that the player's salaries are trul...The problem is that the player's salaries are truly fixed costs. And if revenue starts to decline, which it probably will at some point, there is nothing they can do to adjust those to the market. That's the true downside of long term contracts that the fading economy is just now starting to expose.Jayhttps://www.blogger.com/profile/04839022142066882411noreply@blogger.comtag:blogger.com,1999:blog-1256268100133425608.post-51961322733455969732009-03-11T17:18:00.000-04:002009-03-11T17:18:00.000-04:00Not it isn't but there is no indication that there...Not it isn't but there is no indication that there is a cash flow problem. <BR/><BR/>You cannot make the comparison to Citi. Citi is heavily involved in the credit markets and last I checked the Yankees are not. <BR/>You cannot finance your ticket package. For example when you spend $4,000 on your Yankee tickets and put it on your Citi card and don't make the payments, the Yankees get paid, Big Willie Stylehttps://www.blogger.com/profile/16868331042129078489noreply@blogger.comtag:blogger.com,1999:blog-1256268100133425608.post-13334151037183330032009-03-11T17:08:00.000-04:002009-03-11T17:08:00.000-04:00Revenue does not equal cash flow. Citi has lots a...Revenue does not equal cash flow. Citi has lots and lots of revenue but is having credit issues. <BR/><BR/>It all depends on how deep this depression sinks and how "off" the gate is from projections.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1256268100133425608.post-5268499729145251172009-03-11T16:34:00.000-04:002009-03-11T16:34:00.000-04:00"...could we see some major changes due to solvenc..."...could we see some major changes due to solvency issues?"<BR/><BR/>Short answer: No. <BR/><BR/>Without getting into all the financial ratios and analysis, just a quick look at their financial statements (2005 is the most recent I found), they generate an insane amount of revenue, not even counting the YES Network. <BR/><BR/>Even with inflation, increased payroll, new stadium financing, profitBig Willie Stylehttps://www.blogger.com/profile/16868331042129078489noreply@blogger.comtag:blogger.com,1999:blog-1256268100133425608.post-73842324344674656542009-03-11T15:56:00.000-04:002009-03-11T15:56:00.000-04:00"God, that is frightening"Ain't it?"God, that is frightening"<BR/><BR/>Ain't it?Anonymousnoreply@blogger.com