1 post tagged “economic indicators”

Happy baseball

At the risk of adding to the already crowded field of obscure economic indicators such as lipstick sales (up during recessions) and lotto tickets (the poor gamble more in a down economy), I'd like to introduce the cut in Yankee tickets as the latest indication that finance is continuing to take a hit, no matter talk of a pay rebound for Wall Street.

From the NYTIMES, Yankees Slash the Price of Top Tickets
"The Yankees cut by up to 50 percent the price of the $2,500-a-game Legends Suite seats for full season-ticket holders at their new stadium on Tuesday. They also announced that holders of the ticket plans behind home plate would be given an equal number of tickets free."

snip

“A few weeks ago I indicated that in light of the economy we would review the pricing of a small number of our premium locations at Yankee Stadium,” he said. He added that the team had sold 85 percent of its 4,000-plus premium seats.

While New York may be ground zero for the financialization that got us into this mess, the affects of the economic destruction Wall Street set into play is only now starting to impact the source of this mess directly. 

Of course, with the Yankees the cost of "take me out to the ball game" is more like take me out to the cleaners: $2500 bucks a pop is pretty steep.  Something tells me hot dog sales are pretty stingy with this crowd, too.  And for the record, Pink Slip Nation hates baseball, and dislikes hotdogs--though if one must indulge, she endorses Pinks.