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At the GM Meetings two weeks ago, Selig warned owners about the growing economic crisis.
Apparently, he's really worried about this, because he brought in financial icon Paul Volcker to talk to them again. Yes, that Paul Volcker - the former Fed chairman.
What did he say?
According to several people who attended the meeting, Volcker discussed what led to the current economic plight and where things might be headed. His assessment was not upbeat, the attendees said.
Selig probably has good reason for concern. This year is already worse than the first year of the Great Depression:
I mentioned in an earlier post that the Dallas Cowboys were having trouble borrowing money to pay for their new stadium.
Well, now they're selling pieces of their old stadium to raise cash. Even the toilets are for sale.
If that doesn't work, a bake sale is probably next...
Labels: The Greater Depression
