Bad Economy hits the Redskins

Ruhskins

Can you imagine being an employee for the Redskins, and you get laid off; meanwhile the offense has been sitting on its @$$ for the last 8 games of the season and they get to keep their jobs?

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Stroried

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I sense an annoyance in the Force

WaldSkins

More like the last 8 years.

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Dirtbag59

That was the first thing I asked myself especially when I heard a director had been released. Unfortunately my wishes were met with sorrow.

Anyway I think this is a good time to get something off my chest. One of the things I keep on hearing about Dan Snyder is that at least he's a great business man. After thinking about it I came to the conclusion that he's not even that. If anything he WAS at least a good business man sometime in the past. Afterwards he took his earnings and got himself a cash cow (The Redskins). For those of you who don't know what a cash cow is, it's a mature product that will earn money no matter what. The Redskins are such an economic asset. Practically anyone could make money off the Redskins.

However if you look at his other businesses with six flags and the radio deal you'll see he's had trouble making a profit before the recession really did it's damage.

Man look at me I'm starting to sound like JLC. Either way I'm surprised that the recession was even able to reach the Redskins.

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skinsfan69

When Snyder took over this team was not the cash cow it is now. I mean look at all the advertisng all over the stadium. I know the advertising has calmed down a bit during these times but still. He's done a nice job marketing the team. Plus he came up with the local Redskin stores. He has made the team a lot more valuable than when JKC had the team. Now he's lucky to be in this market, that helps.

People were laid off in the NFL offices so naturally this hits the teams too. I'm not surprised. I didn't know John Jefferson worked for the Redskins.

djnemo65

If you're so smart why ain't you rich?

Dirtbag59

Well if I had known Dan was going to run the franchise into the ground I wouldn't have settled for a minority owner spot.

What I'm morbidly curious to see is how the Redskins do in the long run. Maybe his success has been a result of what he's always done with running the team, sacrifice long term plans in favor of short term get-rich quick schemes. The fans are starting to get fed up with the way the team is running the organization and apparently the season ticket waiting list is for lack of a better word, bullshit. I've heard of people that have been contacted about season tickets within a year of signing up. On top of that they got Larry Michael robo calls going around now with Jack Kent Cooke showing up on caller ID's.

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Mattyk

How exactly are NFL teams feeling the crunch of the economy? I'm not buying it. Just wait and see how much they spend in free agency, meanwhile some guy who works at the stadium is out on the street. F'd up.

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Defensewins

I agree. They were not laid off because of the economy, they were fired because they were not wanted anymore.

Dirtbag59

That is a pretty good point. I mean hell the NFL has made most of it's money already through their godforsaken exclusive rights deals which should at least account for a solid yearly income from the likes of Ridell, EA Sports, Rebock, Direct TV, and the such. Of course I presume that they don't pay off their exclusive rights deals up front.

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SmootSmack

Well, this isn't something that's happening only with the Redskins. It's happening with several teams and even league offices where I think close to 200 people have been laid off.

This isn't as much about the condition the NFL is currently in, although they are going to fall far short of their projected revenue, it's more so about what they fear is coming down the line.

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sportscurmudgeon

The cuts in "staff" for NFL teams including the Redskins is not nearly over yet. And don't look closely at the folks working for teams in "lesser sports"; thos folks' jobs are in serious jeopardy.

The Redskins continue to be the cash cow that was mentioned above, but Danny Boy's other ventures are not doing all that well. Six Flags could delcare bankruptcy; buying up American Bandstand has not been a humongous success; Danny Boy is in the fast food business (forget which minor chain he bought about two years ago) and all of the companies in that business sector are seeing "revenue shortfalls".

These Redskins' folks were laid off because times are getting tighter - - not because the Skins don't want them.

Here is the signal that the franchise might not be pulling down as much $$$ as Danny Boy would want:

Ticket Price Reductions.

The Skins have a top-tier stadium price structure and they have some long term commitments from folks with heavy bread for premium seats. If they reduce other ticket prices, they might see a huge cry for relief in the really expensive seats - - and that is a big part of the cash cow's milk production. The Skins do not want to have to reduce ticket prices - - but they may be forced to do just that.

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CRedskinsRule

This is probably off topic(more for parking lot than here), but I think it is a very interesting article:
Economics Essays: Deflation vs Inflation

Giantone

Maybe on paper but not in the real world,with property values sinking fast and hard most of the Skins value is in the stadium and practice facility.This is what I meant on the other thtread when people talk about a new stadium.........ain't happening for a long time,real long.