Something doesn’t jive. Within hours of the announcement that new claims for unemployment have hit a 26-year high, the Yankees signed another big-name, over-priced, free agent. From the NY Times:
Continuing to spend money as if they were printing it, the Yankees on Tuesday reached agreement with the All-Star free-agent first baseman Mark Teixeira on an eight-year, $180 million contract that pushes the team’s off-season expenditures within shouting distance of half a billion dollars.
That’s over $20 million dollars a year, folks. For playing baseball.
Just yesterday, people were crying about CEOs making too much money. How unfare, we lamented. How outrageous that these fat cats pad their retirements on the back of the working class. Then Steinbrenner dishes out $180 million for a first baseman, and we yawn. I don’t get it.
Either the recession is not as serious as the media says, or athletes are way, way, over-valued.
mike, i didn’t yawn. i lamented and cursed those stinkin’ yankees… but that’s because i wanted the angels to re-sign him. 🙂