The Yankee Stadium parking garages are losing money


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.

Matt Harvey missed a mandatory workout today

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Just when Matt Harvey drama seemed to be subsiding, Matt Harvey drama begins anew.

Adam Rubin of ESPN New York reports that the Mets starter missed a mandatory workout today at Citi Field. Sandy Alderson had no information about why Harvey was gone and Harvey was not excused by the team. Alderson gave no comment.

Just a few minutes ago Harvey showed up and upon getting in front of reporters issued a brief statement with little elaboration:


Because this is New York, you know darn well there will be more to this. We’ll update when it comes out.

Dan Jennings asked to return as the Marlins GM

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Dan Jennings‘ tenure as the Marlins manager has not been great and the team is now actively looking for his replacement. But his old job is there waiting for him if he wants it, reports Clark Spencer of the Miami Herald: Jennings has been asked to come back as the team’s general manager.

Or maybe “asked” is not correct. Team President David Samson said “there’s no decision” for Jennings to make and that he’s still “a signed member” of the team’s front office, reporting to baseball operations president Michael Hill.

Reports last month suggested that Jennings would take a wait-and-see approach regarding returning to the Marlins front office, with hopes of possibly landing a GM job in another organization with greater control than he’s had and will have with the multi-headed Marlins management team. The Mariners, for one, were a team Jennings was said to have his eye on. But that job has been filled and it would not seem like such opportunities have presented themselves to him.

So: it would seem a good bet that Jennings is back upstairs with the Marlins soon. Because the Marlins fully expect him to be.