Monday, December 08, 2008
The Chicago Tribune has filed for bankruptcy. Besides its many media holdings, it also owns the Chicago Cubs Baseball Club. It seems quite reasonable to me to compel companies trying to rescue themselves through bankruptcy proceedings should be required to sell sports teams. For that matter, companies that receive bailout capital from the government should be required to end their multi-million dollar sponsorships of athletic teams in general. They need to keep their eyes on the ball: sports and entertainment investments are probably superfluous and should be cut first of the sake of saving more essential goods and services.