Sunday, December 7, 2008

"An irresponsible vanity buy"

Phil Mushnick in the Post today:

Two years ago, when the country's financial health was superficially strong, the Mets-Citigroup naming rights deal -- a record-cracking $20 million for 20 years to call the new ballpark Citi Field -- wasn't just gaudy, it was downright obscene.

Now, with Citi laying off thousands while reaching for billions in government bailout money, and with Citi's clients having taken a brutal beating, the declaration by the two parties that the ballpark naming deal will proceed as agreed upon is nauseating.

Two years ago, the $400 million deal to call the Mets' new stadium Citi Field was nothing better than an irresponsible vanity buy
, one rooted less in advertising than in mad money beyond Madison Ave.

Today, that the deal will be sustained is no different than a welfare mother spending her family's subsistence money on booze, bracelets and the down payment on a brand new BMW.

No comments: