"Man caves across the country are being re-floored with
Jeremy Lin-oleum as we speak!"
Posted on 02/17/2012 12:20:01 PM PST by SeekAndFind
New York Knick point guard Jeremy Lin is a one-man economic recovery that even Ben Bernanke couldn’t dream up in his Federal Reserve meetings.
Lin-sanity has taken the country by storm and as a result created a spending frenzy that’s benefiting a broad range of companies, tax rolls and even the stock market. Lin’s salary this season is a modest (by NBA standards) $800,000, but by some calculations, he’s turned into the $170 million man.
The most tangible impact has been on the market cap of Madison Square Garden (MSG), whose stock has jumped 7% to close Thursday at $31.87 from its close at $29.77 on Feb. 7 when Lin first entered the Knicks’ starting lineup. That translates to a $170 million to the company’s market cap to $2.4 billion.
Neither the Rangers, currently sporting the best record in the NHL’s Eastern conference, or The Westminster Dog Show can take credit for that. Apologies to Malachy.
But there’s more of an impact to consider. Ticket prices for Knick games are estimated to have jumped more than 25% in the resale market. That means all the online ticket sellers are seeing an increase in their bottom lines.
Plus, it isn’t just the tickets in New York that have increased, the tickets sales have gone up while the Knicks are on the road.
“We’ve seen an increase of 10x in site traffic and ticket sales,” says Joellen Errer, head of communications at online ticket seller Stub Hub. “Page views, search activities increased. As soon as he hit the game winning three-pointer on Tuesday, prices have risen 2-3x.”
Stub Hub is an eBay (EBAY) company, which if you were wondering, a Jeremy Lin search brings up more than 11,000 results.
(Excerpt) Read more at forbes.com ...
Then there’s the retail aspect. Jerseys are $58 and practice T-shirts are $25. Local sports retailer Modell’s says Lin merchandise is flying out the store.
Lin’s no. 17 jersey is the NBA’s top online seller since Feb. 4, and Knicks’ merchandise sales are also no. 1 since Lin entered the lineup. Lin won’t receive anything from merchandise sales — that goes to the NBA and the team.
So, if it costs an estimated $20 to make a jersey, then $38 is profit and thousands are being sold. If 50,000 jerseys have been sold, that would generate a profit of $1.9 million. In addition, Café Press has 134 different Lin-centered products up for sale, including T-shirts with riffs on his name and baby outfits. Not worth counting, but certainly worth mentioning for all the aspiring graphic artists out there.
BTW, there's also the Mommy test...
If Mom has heard of him, then he’s past the sports headline and into the everyday news.
HOW IT AFFECTS POLITICS:
NYC Mayor Bloomberg is ecstatic about all the extra tax money as a result of Lin. New York City and New York State are earning sales taxes on the merchandise, ticket sales and even the additional vendor items sold at the Garden.
AND GET THIS:
http://www.huffingtonpost.com/2012/02/17/jeremy-lin-prompts-christ_n_1285114.html
Jeremy Lin Prompts Christine Quinn To Step Into MSG-Time Warner Brawl
Stop the Linsanity!
City Council Speaker Christine Quinn and other pols are applying a full court press on Madison Square Garden and Time Warner Cable, urging the warring sides to strike a deal so Knicks fans can watch phenom Jeremy Lin.
“Unfortunately, as you know, more than 2 million New Yorkers have been shut out of watching this magical Cinderella story unfold because of the ongoing contractual dispute,” she wrote in a letter Thursday to two of the companies’ top execs.
CLICK ABOVE LINK FOR THE REST
Why do I feel like this is another media distraction?
Was it the timing after the announcement of the HHS mandate?
Was it because I see this as a marginally notable accomplishment that has been curiously overhyped, like Whitney Houston’s death?
Or was it because I could care less about the Knicks and the NBA?
"Man caves across the country are being re-floored with
Jeremy Lin-oleum as we speak!"
But he’s an, “evil Christian.” How can these politicians support him?
First Tim, then Lin. Do you think America will get the message?
RE: Or was it because I could care less about the Knicks and the NBA?
Hey Kidd, you and your Dallas team are coming to NYC to play this Sunday... be prepared to meet your point guard match... :)
I'm Lamar Odom will come up there and give his usual half-hearted effort, but at least his fat wife should enjoy being in New York.
That should be:
I’m sure Lamar Odom will come up there and give his usual half-hearted effort, but at least his fat wife should enjoy being in New York.
No.
Many people are willingly getting into identity politics - socially, economically and politically - each seeking to claim kinship with some aspect of Lin’s identity, for THEIR OWN purpose and benefit - he’s a New Yorker (he plays for the New York Knicks), he’s a California boy (grew up there), he’s a Harvard boy (went to school there), he’s an Asian-American (obvious), he’s a Chinese-American (Chinese ethnic heritage), he’s a Christian (yes he is), he’s a (you fill in the blank).
I hope he keeps his head about him, and maybe his faith can help him do that; in spite of all the frenzy swirling around him and claiming a piece of his identity.
So far he seems to have never believed in or sought to climb the ladder of any identity but his own. Unlike so many in this country, it seems he never accepted the idea that he was held back because the role models put before him didn’t look like him, couldn’t “identify” with him.
So, in spite of all the profiteers trading on his “identity”, there is much that is praiseworthy about Mr Lin. May G-d bless him.
The concern Yeshua had for the rich man was not his wealth, not his success, not the power it gave him. Yehsua’s teaching about the idea that it was harder for a rich man to get into heaven was founded on the certainty of how riches, wealth and power create temptations that the rich man must fight, must struggle against in order to remain righteous. The rich man’s money, wealth, succes and power not only provide the means to do many things he knows he shouldn’t do, but they provide the psychology that they also provide the means to “get away with it”, which, the wise man knows is morally impossible not matter what happens during someone’s lifetime.
Many of our great sports figures have been unable to understand Yeshua’s true concern about great wealth - it’s temptations, not the wealth itself. I hope and pray Lin will not be one of them.
Next week, obama will probably issue a “Social Justice” Executive Order which will prevent any NON-black NBA player, no matter how good he is, from getting paid more than the LOWEST PAID black player in the league. NON-black players shall also have their lunches inspected, so as not to have anything better than the blacks.
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