Silly spending could prove costly

When the NHL entered the lockout that killed the 2004-05 season, hockey fans sought a silver lining. They wanted anything to cling to that showed the NHL and NHLPA knew what they were doing, that these two powerful groups weren't just bickering children. Surely this new "cost certainty" we heard so much about would save the NHL in the long run, and make the NHL much more like the NFL with the level of competition. Hockey fans were wrong.It turns out the NHL capitulated to one of the most devastating clauses in the CBA, and that the owners and NHLPA continue to show they do not understand the basics of economics. The NHLPA has exercised the 5% increase every year, and NHL owners have gladly spent as much of that money as they possibly can, even when the players available are not worth the dollars being paid.July 1st opened the free agency period on what was universally known as a mediocre class of free agents. Even the top prize of the off season, Brad Richards, is not...