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Dwindling Dollar May Force Hockey Fans Into Tough Decisions
by Paul on 10/08/08 at 11:04 AM ET
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from Jim Kelley at Sports Illustrated,
It was fitting that the NHL opened its season with four games overseas last week, because with the U.S. economy being what it is, the league may need every koruna, krona and euro it can get its hands on.
“The big fear is that if the economy continues to fall, fans will simply have to make a choice as to not only how they pay their bills, but which bills actually get paid,” said an NHL insider who spoke to SI.com on the condition of anonymity. “If it gets to that point, entertainment costs—and let’s face it, we’re in the entertainment business—are going to take a hit. A lot of us are going to take a big hit.”
Filed in: NHL Talk, NHL Business of Hockey | KK Hockey | Permalink
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The first sentence describing the ailing US economy needs to be reworded to include most of the rest of the world, including western European countries whose economies are reportedly in worse shape than ours. Russia is ailing badly - they decided to close their markets (their bourse) for two days until Friday, in an effort to stop their stock market free fall.
Regarding the dollar, until today’s Fed rate cut, the dollar had been showing signs of recovery the past several months. It, like all other currencies, will fluctuate depending on economic and political issues. While NHL teams will be hurt in this current economic maelstrom (how badly is yet to be determined), the financial misdeeds and the massive angst that surround those misdeeds will eventually pass - one way or another.
Posted by blueline on 10/08/08 at 01:06 PM ET
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The first sentence describing the ailing US economy needs to be reworded to the include most of the rest of the world, including western European countries whose economies are reportedly in worse shape than ours. Russia is ailing badly - they decided to close their markets (their bourse) for two days until Friday, in an effort to stop their stock market free fall.
Regarding the dollar, until today’s Fed rate cut, the dollar had been showing signs of recovery the past several months. It, like all other currencies, will fluctuate depending on economic and political issues. While NHL teams will be hurt in this current economic maelstrom (how badly is yet to be determined), the financial misdeeds and the massive angst that surround those misdeeds will eventually pass - one way or another.
Posted by blueline on 10/08/08 at 01:05 PM ET