CBS: Genshaft's blocking of UCF led to BigEast instability -
With conference realignment sweeping the country, Marinatto still was able to convince TCU in November of 2010 to join the Big East, to help bolster an inconsistent football league. People mocked a Texas team joining the Big East, but it gave the league a solid football addition. That would have given the Big East nine football members in 2012. There was even speculation the Big East might be able to attract an ACC school to join the Big East, which was in the midst of negotiating a huge upcoming media rights deal.
“At that point when the Big East was intact, the only school the Big East could have legitimately added that made sense was UCF,” an industry source said. “Maryland and Boston College? They wouldn’t even return the Big East’s calls. But the Big East couldn’t add UCF because [South Florida president] Judy Genshaft kept shooting down UCF.”
Genshaft’s continuing insistence to block UCF from the league was a huge contributing factor which ultimately led to the league’s current instability, a league source said. That’s because in April of 2011, with TCU on board, Marinatto and the league negotiated a nine-year deal worth $1.4 billion for its new media rights deal. Marinatto recommended to his presidents that they accept the offer and they promptly voted against it.
“I think that was the stupidest decision ever made [to turn it down] in college athletics,” a league source said. “To have the equity of ESPN as your brand and the stability that would have gone with it.”
h/t Brandon
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Putting Our Slow Jobs Recovery Into Perspective -
The most important takeaway from the chart is that there is no significant difference between the three recoveries in terms of rapidity. The current recovery is slow, all right, but it’s no slower than the two previous ones.
James Paulsen, the chief investment strategist at Wells Capital Management, called this pattern to my attention in a visit to the magazine this week. Paulsen has a similar chart in the 43-page deck of slides that he shows clients.
“People say the economy is broken,” Paulsen told me. “It’s not. This is the New Normal. And the New Normal is 25 years old.” The New Normal, he says, goes back to the mid-1980s, when the rate of labor-force growth notably slowed.
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“How can it be a large career to tell other people’s children about the Rule of Three, and a small career to tell one’s own children about the universe? How can it be broad to be the same thing to everyone, and narrow to be everything to someone?” — G.K. Chesterton on “Stay at Home Moms”.