Greed is good! Gordon Gekko
"You Gotta Be Kidding!"
by Mickey Charles CEO, sportsnetwork.com
Hatboro, PA (Sports Network) --
Actually, for most, it was Michael
Douglas. That is how we remember people, movies, roles, statements ... by
Yes, greed is good when applied properly, but destructive when not, even for
the recipient of the proposed riches. However, when it comes to Wall Street or
the NFL, hedge fund managers build homes out of Hollywood and other fairy tale
books, make billions (no mistake there, it's "b" instead of "m"), pyramid
builders go to the tombs (as in prison), and those who don either shoulder
pads and helmets or the mantles of owners throw crumpled $100 bills at one
another instead of bullets or rising and falling stocks. Greed drives them all
while the audience, the bystanders, the crowds and fans wait with a few saved
dollars for investment or tickets in one hand and the family savings and/or
budget clutched nervously in the other.
Greed is good for the other guy, when it works. It stinks for you because it
Millionaires fighting with billionaires and the fans who make it all happen,
even the TV revenue because of the numbers of them tuned to the tube, stand
by, waiting on the sidelines, petulant, annoyed, disenchanted, angry and,
worst of all, ready to return and get on line at dawn for their opportunity to
purchase season tickets or various "game plans." Is this a ridiculous
situation or what? They are robbing your bank and you are inviting them in
again as soon as they take a break and settle differences among themselves
about who gets what share of the plunder.
In the movie "Wallstreet" Michael Douglas' character Gordon Gecko coined the phrase "Greed is Good".
Do all the players go out and buy Escalades, Beemers, Caddies, Bentleys,
million dollar condos and a home in Boca for mom? Probably not, but pretty
close. In other words, they are immersed in a playpen of jello, have never
savored that sort of food fun and can't stop bouncing around while they gorge,
sometimes choke, on it. What happened to their agents and financial advisors,
those we thought would help them plan for the future? Beats the hell out of
You can place a safe bet that the likes of Manning (both of them), Brady,
Romo, Adrian Peterson, Joseph Addai, Brandon Jacobs, Reggie Bush, Hakeem
Nicks, Reggie Wayne, Wes Walker and others have it all mapped out in trust
funds, investments, planned endorsements for years to come, maybe an
announcing gig here and there, affiliation with a football camp for
youngsters, golf outings and "Dancing with the Stars."
Then there are the "others." Those who still make out well while they are
playing, but who are usually down in the trenches where their bodies take a
beating just short of questioning at the Spanish Inquisition for significantly
less than the folks they protect. What happens to them upon retirement,
to pensions, to care, to consideration by the NFL? Not much. They should
have planned ahead is what the suits in the suites are likely thinking.
OK, let's toss them a bit more when they are no longer playing. How tough is
that? If they cannot adjust to a more-than-adequate lifestyle at that stage
of their lives, if they did not plan ahead, if they attended college, as most
do, to plan for entry into the NFL, then c'est la vie and no tears shed.
Right now, as we watch baseball unwind, basketball and hockey wind down, they
will be playing, if they play, preseason games in a bit over 90 days and
going to training camps in somewhat less than that. Are we having fun yet?
Is your anticipation for your never-to-make-the-Super-Bowl team, at least not
this year, reaching a fever pitch? Have the sweat glands opened? Are you
filled with anxiety? T-shirts out with logos instead of simply "wishful
thinking" over a team name and Super Bowl XLVI?
It will be close, very close, but everyone stands to lose too much money and
greed will drive them all to reconciliation and detente. They will resolve
differences and settle. Then each will claim they took little and gave much,
but there will be handshakes, smiles and bank account floodgates opened.
Networks will breathe a sigh of relief and fans will smile, even cheer, but
how silly is that? They, the players and owners, own the castle and
surrounding lands. They are the lords of all they survey and you ... well, you
are the populace about whom they care little, if at all.
They have now agreed to federal mediation accepting a judge's idea to hold
negotiations in a Minnesota court. Maybe they, the players, figure that is a
safer haven than a big city court. But, later, the NFL proposed negotiations
in Washington under George Cohen, the federal mediator who oversaw several
weeks of discussions before the players decertified their union to file a
lawsuit and the owners began the lockout.
The press releases that are coming out from both sides are as transparent as
the entire process, a facade, a gossamer of reality. They know it, we should
know it, the court surely knows it and the press ought to be disenfranchised
if they are taken in by it. It is a game played between the goal posts of the
Does everyone understand a lockout? The players cannot go to work. Owners
have closed the doors. Now the players want an injunction, usually issued to
stop something, to start something ... lifting the lockout.
NFL Commissioner Roger Goodell and NFLPA Head Demaurice Smith now face federal mediation in hopes of ending the NFL lockout.
It's ironic on the face of it. They want mediation now, so they say. But
where? Hell, we have huge offices. Y'all come down. Bring the whole gang,
Does this lockout violate any federal antitrust law? Nah. Any ruling that
says it does will likely be overturned. It is a game. It is, admittedly, on
a grand scale, but we, the country, allowed that to happen and, yes ... you
are right ... we had no say in how it all fell into place. But others did and
they let the foxes run away with the chickens without so much as a "Hey, you,
come back here!"
Now they are arguing about what the talks should be about instead of having
them and then arguing. In other words, what should we argue about? They have
to be kidding! Rich does not mean smart. It could mean lucky, inherited
family fortune, one good deal that personified you as what you are not or
using OPM (Other People's Money).
You should all stay home, but that is not what American sports fans do. They
are sheep waiting to be told to cross the road. This will be settled and you
will go to the games and pay outrageous prices for seats, drinks, hot dogs,
burgers, programs and a shirt or two. They beat the hell out of you and you
go back for more, giving them, and the networks, the advertisers, the funds
for them to do this ... argue about who is greedier. Where is Gordon Gekko
when we need him?
I know, and you know, that you do not understand what the hell they are
arguing over so let's summarize it ... and cover the key issues, not the
nonsense, but point out a few of the latter just to make the point ... i.e.,
items we, you and I, could agree upon in about 10 seconds.
A salary cap for 2011 that would avoid a negative financial impact on veteran
players. Plus 2011 salary and benefits set at $141 million per club with an
increase by as much as $20 million per club by 2014. How much did you say you
would earn this year?
This one sounds like a slam dunk ... make that 20-yard field goal ... free
agency for players with four or more accrued seasons and reduced draft choice
compensation for restricted free agents.
Commit to retain the current 16-game regular-season format for at least the
next two seasons, and further commit not to change to an 18-game regular
season without the union's agreement. Duh, how tough is that?
Think you can make it on $1 million annually? I figured that so how does
expand injury guarantees for players with the clubs offering to guarantee up
to $1 million of a second year of your contract if you are injured and cannot
return to play sound? Gosh, we have to wash the car by hand and not have it
simonized every week.
For the first time, players and families would be able to purchase continuing
coverage in the player medical plan after retirement for life, and could use
their health savings account benefit to do so.
Enhanced retirement benefits for pre-1993 players. More than 2,000 former
players would have received an immediate increase in their pensions averaging
nearly 60 percent, funded entirely by the owners.
A new entry-level compensation system that would make more than $300 million
per draft class available for veterans' pay and player benefits. The new
system would preserve individual negotiations - not a wage scale - and would
allow players drafted in Rounds 2 through 7 to earn as much or more than they
Significant changes in disciplinary procedures, including a jointly appointed
neutral arbitrator to hear all drug and steroid appeals. Gee, the regular
courts have no say in what the rest of you would be arrested for undertaking.
Sounds like being a player and an addict has its advantages.
So, what do the players have to say about some of salient items, and I
certainly have not covered all since most are more suited for pre-school
consideration and determination. Onward.
Let me summarize it and save all of us a whole lot of time ... show us the
The players want to be the owners. They want control. The employees, the
union representing them, want the owners to bend over, grab their ankles and,
well, you know the rest. For those of you that are business owners, you know
what you did to get where you are and, yes, the employees helped along the
way, but you, one would hope or imagine, paid them for their efforts while you
took all of the risks. The risks of the players are the physical backlashes
they might encounter, but they are paid incredibly handsomely for that
eventuality, a contingency that is relatively isolated.
(L to R) New York Giants owner John Mara, NFL Commissioner Roger Goodell, Dallas Cowboys owner Jerry Jones, and Pittsburgh Steelers president Art Rooney II walk together as they depart DC courtroom after failing to reach an agreement in labor talks at the Federal Mediation and Conciliation Service last month.
What they ought to do one day is check into what indentured slaves like
cricket players are paid, the relatively minor amounts doled out to rugby
players to keep them from being on the dole and the salaries of most soccer
players worldwide. They do that and some of these guys are Gates and Buffett
No 18-game season, and no to delaying it for only one more year because 2011
was not possible. Anyone seen a medical expert around, the sort that the
players brought in to warn, for a fee ... of course, that increasing the
season would increase the risk of player injury and shorten careers. I'm not a
doctor, but, c'mon, a 12-minute game when boiled down and a few more will
shorten careers? Nah.
The players want to be partners ... plain, pure and simple. Fifty-fifty of all
revenues. Financial benefits of free agency and exploiting talents and
achievements to the highest bidder. They want to be partners without assuming
any of the risks attendant to same other than ballooning injuries into "Grey's
Anatomy" and a hospital ward at every stadium. It is a tough game that no one
was forced to play. A game in which far too many went to the NFL minor leagues
- college - just to showcase and enter the draft ... NFL style, not Iraq or
Afghanistan. Wine, women, song, fine cars, big homes and Ralph Lauren
wardrobes plus the mandatory Rolex.
Success in the NFL opens a host of other doors for many players, and 90
percent of those ... perhaps more ... come with dollar signs attached to them.
I have not seen the owners asking for a share of that revenue, all of which is
a result of playing in the NFL.
I am not taking the side of the owners, although it seems so. I am just
saying that the amount of greed being displayed here makes much, not all, of
Wall Street look simple. At least it was cut and dry for Gordon Gekko. The
money was there for the taking and, like many hedge fund managers today, he
reached into the open cookie jar. Those fund managers, by the way, are
pulling in $1-5 billion annually ... for themselves. No misprint there. No one
is their partner except, maybe, the wife with a good pre-nuptial agreement.
Playing in the NFL is a job. That has been forgotten, like the fans. The
peasantry, the common herd and multitudes want their game back and seem
oblivious to how distant they are from the financial in-fighting taking place.
Why aren't you pissed off? Why aren't you doing something? Why not a fans'
union to make demands as well? Unrealistic you say. You are right, it is,
but there is a point to be made. You are insignificant, just the ticket
holder to this battle of bankbooks and accounts.
How will it end? You gotta be kidding me? They will play. Greed. Greed is