More or less in line with what you would expect - the S&P 500 (and my 401K, consarn it!) was down roughly 20% during the last month as well.
Not real sure what the point of this post is... The stock market crashing? No way!?!?! I had no idea!
Safeco, Qwest & Key Bank must be killing it.
I have to admit I don't see the point here either. Do these companies own stake in any league teams? How many are big time advertisers of the league? I know buildings can make money off of naming rights, but not all of these are NBA-specific. Several of the buildings referred to here are also used by NHL teams, and some have the rights to NFL stadia.Besides, most everything is down, whether they have their name on an arena or not.
The point is this:Stadium naming rights have been a cash cow for pro sports teams for the past decade-plus. As an example, the Sonics' proposal to the state of Washington for the new Renton arena included $100 million in funding from the team (numbers approximate) - however, that $100 million was never actually from the team, it was from stadium naming rights. If the companies expected to provide naming rights money are struggling, the teams expecting those naming rights are going to struggle to obtain the money.You could also infer the stupidity of companies to use stadium naming rights as a way to promote themselves. Just by looking at the figures, you can see that these companies aren't doing any better than any other companies, despite the fact they wasted hundreds of millions of their shareholders' dollars on this naming crap. As Warren Buffett so astutely put it, never invest in a company that has a stadium named after it.
Oh, those crazy corporations. Not so sure I agree with the assessment. Billions of dollars are spent on outdoor advertising annually in the US, and most media experts anticipate this amount to actually grow 2-3% through 2010. (Check JackMyers.com for their 2008-2010 media forecast) Teams will not struggle to obtain that money, any more than they will to obtain in-stadium advertising, sponsors for giveaways, etc.Also, it's hard to say that companies are 'wasting' money on naming rights - is there some sort of study proving this, or is this a gut feeling? While Fed Ex spends money on naming rights, UPS is spending similar marketing dollars on television, billboards, magazines, etc. It's all about generating brand awareness. Hard to say with conviction if or where exactly the money is being wasted.Not so sure Warren Buffett is immune from this either - he has heavily invested in Gillette, so there's that.That's pass interference, dammit!!
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