Posts Tagged ‘Bailout

08
Oct
08

Bailouts Run in His Blood

Merritt Paulson is the 28 year old co-owner of the Portland Beavers, the Triple-A affiliate of the San Diego Padres and he’s working very hard to try and bring an MLS franchise to the Portland area. In order to do that, he wants to renovate the stadium where the Beavers play and build a new stadium for them elsewhere in the city. Paulson is looking for $85 million from the city for renovations while he’s willing to pony up $40 million for the soccer franchise itself. MLS has promised the city a team by 2011 if they built a soccer-specific stadium, hence the renovations, but while some people are excited others, like Jody Wiser of Tax Fairness Oregon feel differently. “My personal feeling is if Merritt Paulson wants a team he should buy some land and build the stadium. That’s his job as a business owner. It’s not the job of the grocery store clerk.”

Meanwhile, the price tag keeps climbing. In September Paulson said it would take $75 million and today it’s 85. But for Paulson, son of current Treasury Secretary Henry Paulson (who is the other co-owner of the Beavers) the government’s money is seen as just another ATM for him to use. After all, if AIG and all of his dad’s cronies on Wall Street can get some government coin, why not him!

Don’t worry though, the new Mayor-Elect Sam Adams is on the scene and ready to help provide leadership; also, 2 kegs of the fall seasonal ale. Continue reading ‘Bailouts Run in His Blood’

06
Oct
08

A-Rod Salutes the Plebes

Washington may be claiming that the economy is in crisis, but if you’re a baseball slugger with the two richest contracts in sports history times they ain’t so bad. Sure, your team got bounced from even getting to the playoffs for the first time in over a decade, but really it’s Jeter’s team anyways, so it isn’t A-Rod’s fault. Hence him out for a meal with a couple friends including, according to the NY Post a “sexy brunette.” Always aware of the media’s attention to him, he switched seats from sitting next to her to sitting across when he noticed photographers setting up. Fortunately though, A-Rod, a man who can quite easily set up his own version of Scrooge McDuck’s money bin, still provided some moments of interest for the photographers and in particular for all those people who are in danger of losing their homes and life savings. That’s because A-Rod has so much money he can use $100 bills as napkins. Now THAT’S living the dream!

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[NY Post]




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