Originally posted on The Show Speak | Last updated 4/15/12
Aiden and Madison were the most popular baby names, Snoop Dog featuring Pharrel was telling us to "Drop It Like It's Hot" and I was still technically sane according to medical records.
Fast forward eight years later and My Oh My how things have changed.
The purchase of the Los Angeles Dodgers by the Guggenheim Baseball Management Group that includes Magic Johnson for a record $2.1 billion in March was a record purchase for any North American sports franchise. The previous record was a $1.1 billion purchase of the NFL's Miami Dolphins by Stephen Ross in 2009.
More recently, the Texas Rangers (2010) were purchased by a group led by Hall of Fame baseball player Nolan Ryan for $590 million, the Houston Astros (2011) by Jim Crane for $615 million, and the Chicago Cubs (2009) for $900 million by the Ricketts family.
So what does this have to do with the price of tea in China? Nothing. However, it was such an astronomical number that I thought it would be fun to do some quick price comparisons between 2004, when the Dodgers were previously purchased by Frank McCourt for $430 million, and 2012 when the Guggenheim Baseball Management group plunked down a cool $2.1 billion.
2004 vs. 2012 - Fun With Numbers:
Item2004 Price 2012 Price% ChangePack of Gum $ 0.50 $ 0.75 67%Candy Bar $ 0.60 $ 0.99 61%Loaf of Bread $ 1.05 $ 1.99 90%Movie Ticket $ 8.00 $ 14.00 75%Soft Drink $ 0.75 $ 1.00 33%Gallon of Gas $ 1.50 $ 3.90 160%1st Class Postage $ 0.37 $ 0.45 22%USA Today $ 0.50 $ 1.00 100%Median Home Price Los Angeles $ 446,380.00 $ 339,000.00 -24%Median Income Los Angeles $ 43,518.00 $ 42,667.00 -2%Minimum Hourly Wage $ 6.90 $ 8.00 16%Los Angeles Dodgers $ 450,000,000.00 $ 2,100,000,000.00 367%It's good to be Frank McCourt and gasoline.
I will leave the economic analysis for an analyst that has interest in trying to explain the ridiculousness that is the Los Angeles Dodgers purchase in 2012 by Guggenheim Baseball Management. However, it doesn't take an economics genius to figure out that if you live in Southern California, expect your cable rates to increase come 2014.
This is making me hungry.
Until Next Time,
Steak and Shake Menu pre 2004
Click here to see the best team for the buck in 2010 and 2011. (Hint: I live 5 miles from this ballpark)
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