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.
The last time the Cubs were in the World Series was 1945, two years before Jackie Robinson broke the color barrier in baseball. As such, until Tuesday night, the Cubs never had a black player play for them in the World Series.
Dexter Fowler changed that, leading off the ballgame at Progressive Field against the Indians. Fowler was made aware of this fact three days ago by Rany Jazayerli of The Ringer:
Fowler, in that at-bat, went ahead in the count 2-1 but ended up striking out looking on a Corey Kluber sinker.
Red Sox lefty Drew Pomeranz was of limited utility during the postseason as he began experiencing soreness in his left forearm near the end of the 2016 season. There was some thought that he might need offseason surgery but Pomeranz was examined by doctors who determined that he does not need any surgery, Evan Drellich of the Boston Herald reports. President of baseball operations Dave Dombrowski said:
He has seen the doctor, the doctor looked at him. I can’t really disclose totally everything that was done, but the doctor said no surgical procedure and the doctor feels he will be ready for next spring training for us.
Pomeranz, 27, finished the 2016 regular season with an aggregate 3.32 ERA and a 186/65 K/BB ratio in 170 2/3 innings between the Padres and Red Sox. He operated out of the bullpen during the playoffs, allowing two runs on four hits and two walks with seven strikeouts over 3 2/3 innings.
The Red Sox acquired Pomeranz in a trade with the Padres in July. It was a trade that earned Padres GM A.J. Preller a 30-day suspension from Major League Baseball, as he reportedly kept two sets of medical records in order to deceive trade partners.