The Yankee Stadium parking garages are losing money

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New York City issued a bunch of bonds to build parking garages around Yankee Stadium. Seems that way fewer people are parking in them than expected, however, the garages have lost money both last year and this year and now it looks like the garage operator is going to default on rent payments to the city and bondholders are going to get stiffed as a result.

One way to look at this is to say that you’re pretty much a moron if you’re buying bonds backed by parking garage receipts at a facility with ample, cheap and convenient mass transit next door.

Another way to look at it is that this is just another example of public money being wasted on ballpark and ballpark-related projects. Because — as Neil deMause notes at the great Field of Schemes blog — even if it’s the bondholders and not the city who are left holding the bag here, the city issued bonds that are likely to end up in default, and that will make it harder and more expensive for the city to issue bonds for other projects in the future.

Albert Pujols passes Mark McGwire with 584th career home run

CLEVELAND, OH - AUGUST 11: Albert Pujols #5 of the Los Angeles Angels of Anaheim runs out a double during the ninth inning against the Cleveland Indians at Progressive Field on August 11, 2016 in Cleveland, Ohio. The Indians defeated the Angels 14-3. (Photo by Jason Miller/Getty Images)
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Angels DH Albert Pujols passed Mark McGwire for sole possession of 10th place on baseball’s all-time home run leaderboard, slugging his 584th career home run in the first inning of Wednesday night’s game against the Blue Jays.

Mike Trout had already slugged a solo home run off of Jays starter Marco Estrada to bring Pujols to the dish. Pujols jumped on an 0-1 cut fastball, sending it out to left-center field, clearing the fence by a few feet.

Pujols, who finished 4-for-4 with the homer and an RBI double, is batting .257/.321/.441 with 24 home runs and 99 RBI on the year. His next target on the home run leaderboard is Frank Robinson at 586.

Zach Britton allowed an earned run for the first time since April 30

BALTIMORE, MD - AUGUST 22:  Zach Britton #53 of the Baltimore Orioles pitches for his 38th save in the ninth inning during a baseball game against the the Washington Nationals at Oriole Park at Camden Yards on August 22, 2016 in Baltimore, Maryland.  The Oriole won 4-3.  (Photo by Mitchell Layton/Getty Images)
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Orioles closer Zach Britton had appeared in a major league record 43 consecutive games without allowing an earned run, spanning May 5 to August 22. That streak came to an end on Wednesday evening against the Nationals.

The Orioles entered the bottom of the ninth inning holding a 10-3 lead, but reliever Parker Bridwell immediately found himself in hot water. He yielded back-to-back singles to Danny Espinosa and Clint Robinson. He was able to strike out Trea Turner, but walked Jayson Werth to load the bases. Daniel Murphy then crushed his first career grand slam to make it a 10-7 game. That prompted manager Buck Showalter to bring in Britton.

Britton, too, was knocked around. He served up a single to Bryce Harper, followed by a double to Anthony Rendon that scored Harper, pushing the score to 10-8 and ending Britton’s streak. Wilson Ramos reached on a fielder’s choice back to Britton, but the lefty finally finished the game by getting Ryan Zimmerman to ground into a game-ending 4-6-3 double play.

Britton now holds a nice 0.69 ERA with 38 saves and a 61/16 K/BB ratio in 52 innings of work this season.