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The other day, Derek Jeter achieved his 3,000th hit, a major baseball milestone. The hit happened to be a home run, and the fan who recovered the ball, Christian Lopez, has been in the news — well, the sports news, anyway. Players like to be able to claim milestone baseballs for their own collection, so that some day, they hope, they will have the chance to donate the item to the Baseball Hall of Fame. Christian Lopez is such a fan of the Yankees that after being ushered away by security, and after being asked what he wanted in exchange for the baseball, settled for a few signed pieces of memorabilia and season tickets at Yankee Stadium for the rest of the year.

Christian could have asked for tens or hundreds of thousands of dollars from the team in exchange for the baseball. Some sports memorabilia aficionados have claimed the baseball could have fetched $300,000 to $500,000 on the open market. Who knows what the Yankees, Major League Baseball’s richest team, was prepared to offer if Christian had asked? He has now been criticized for his decision.

The criticism is coming from opposite points of view, as well, but both seem to think the Yankees need no generosity.

  • If Christian wanted to be generous, why not sell the baseball for its fair market value and give the proceeds to charity?
  • While Christian is clearly a Yankees fan, the team’s finances are not exactly in need of generosity. Derek Jeter’s salary this year is almost $15 million. If he wanted to personally pay Christian for the fair market value of the baseball, it most likely would not have hurt his finances.

There is perhaps good news for Christian. If he were to have kept the baseball, he might have owed tax on its value, even if he didn’t sell it. A few years ago, Barry Bonds surpassed Hank Aaron’s home run record, and lawyers speculated that the lucky fan who walked away with the ball could owe tax just by taking the souvenir home. By trading the baseball in for souvenirs and tickets worth about $50,000, he lowered his potential tax bill. But with student loans and other expenses, that’s a tax bill Christian — or any unsuspecting fan — might not be able to pay. Smelling publicity opportunities, a number of companies have offered to pay the tax bill for Christian.

To a true fan, loyalty to the team means more than just money. Despite the tax bill, Christian could have done himself and his future family a big favor by keeping the ball and selling it. The proceeds could have helped purchase a house without the need to take out a thirty-year mortgage. He could have invested and retired a few years earlier than he would have needed to otherwise. He could have been able to put a few kids through college. Christian seemed to feel so loyal to his team, that despite the fact the $300,000 to $500,000 he could earn for the ball would mean the world to him and his family but its value would be only negligible compared to the wealth of the Yankees or Derek Jeter, he forfeited a good slice of future financial security to be seen as the good guy.

This is about loyalty to a sports team, but it’s very much like dedication to an employer. Working for a company, it’s easy to ignore or even be unaware of the negative aspects of the employer. That’s why employees (like me) tend to hold onto company stock. Their experiences are often clouded by upper management who, through the filter of an internal communications team that works closely with public relations, broadcast mostly the good news. Fear of losing a job can breed loyalty, as well. When you have management who are trained in the art of motivation and manipulation, employees can be taught to believe anything, like twenty-four hour, seven-day dedication to the cause is the only path to success.

Loyalty can cause you to make strange choices — choices that may harm you financially. While it’s a virtue to consistently put others’ needs before your own, when an organization who is in a much stronger position has convinced you to put the organization’s needs before your own, it’s manipulation. The convincing isn’t always explicit, like a supervisor rallying troops to “take one for the team” in the form of pay cuts or a politician declaring a nationwide shopping spree to spur the economy. By engendering fans, sports teams have managed to create the same relationship. Fans will do anything for their teams, for practically nothing. (Read the fine print on a baseball ticket to discover all the rights Major League Baseball has and your team has, and all the rights you don’t have, once you enter that stadium, park, or field.)

I enjoy going to baseball games — but I don’t enjoy it often because I am a fan of the Mets and the team has lost almost every game I’ve seen this year.

What would you have done if you were in this fan’s position?

Photo: _FXR

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If you love baseball, you might also love statistics. I suppose analyzing players’ performance numbers gives spectators something to do during long at-bats. Very few other sports engage fans by providing scorecards, and learning how to score a game is like learning a language or a code.

I enjoy baseball, as much as a Mets fan can be said to “enjoy” the sport, but I’m not fanatic when it comes to sports statistics. Possibly more appropriate for Consumerism Commentary readers are the baseball statistics that pertain to salary rather than performance. Major League Baseball players, particularly the better ones, are able negotiate what seem like stratospheric salaries, with the assistance of agents. It’s easy to look at multi-million dollar salaries for what seems like an easy job and think that the players don’t deserve it. That’s even more the case when players don’t perform as expected. (Oliver Perez, are you reading this?)

A new website takes a look at the available salary data for Major League Baseball players and presents an analysis. On Thanks, Curt, you can review, based on the latest information publicly available, several different views of the data. The name of the website refers to Curt Flood, the player who in 1969 was on the forefront of free agency in baseball.

You can see the top salaries among all players, but more interestingly, the site calculates the players who are the best values. Each player receives a cost vs. performance score, which is the MLB player average salary divided by the player’s salary, multiplied by the player’s WAR (wins above replacement), a measure of overall performance.

Oliver Perez, mentioned above, is currently fourth on the list of worst value players.

Other statistics included are cheapest home runs and most expensive home runs, a simpler calculation that takes the player’s salary and total HR into account.

If you like baseball, personal finance, and statistics, you should find the data on Thanks, Curt interesting. Permutations of baseball statistics are limitless, and I expect that as the site matures, even more financial information and analysis will be available.

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Today’s episode of the Consumerism Commentary Podcast features two interviews. In the first segment, Tom Dziubek speaks with Aaron Patzer, founder of Mint and Rob Garcia, Director of Product Strategy at Lending Club about Mint’s new “Goals” feature and their related partnership with Lending Club.

Then, Tom talks with Consumerism Commentary founder Flexo about different ways to save money at a ball game. Among the tips discussed are ways to save money buying tickets, saving money on food and drinks, and how to handle buying souvenirs.

Consumerism Commentary Podcast #65
Taking Control of Your Finances, Flexo: S03E13 / 86 & 87

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Table of contents

[00:00] Introduction from Tom Dziubek
[00:41] Interview with Aaron Patzer and Rob Garcia
[01:04] Mint’s new Goals feature
[02:03] Popular goals being chosen
[02:48] Setting up a goal
[03:45] How Mint develops suggestions & their relationship with vendors
[05:09] Using bank accounts with goals
[06:19] How the feature differs from similar services provided by other companies
[07:29] Lending Club’s partnership with Mint
[08:09] Lending Club loans vs. low-rate credit cards
[09:44] Relationship with credit bureaus
[11:29] Credit history
[11:52] Suggestions for investing
[12:16] Mint’s integration of investments
[12:30] Planned enhancements for Goals feature
[14:18] Interview with Flexo
[14:27] Flexo and the Mets
[15:20] Buying secondhand tickets
[19:44] Buying cheap seats at the stadium
[21:12] Transportation
[22:03] Food and drink
[24:09] Skipping the souvenirs
[25:25] Handling the barrage of advertisements
[27:30] End

We always welcome feedback from listeners. If you have any comments for this episode or for any other, or if you have suggestions for future episodes, please leave us comments here or email us at podcast at this domain name.

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Today, at the beginning of the “10s,” I am thirty-three years old. By the time this decade fades away in the last few hours of December 31, 2019, I’ll be forty-something. (I’d rather not do the math.) Lately, one particular phrase keeps repeating involuntarily in mind: “Life is short. Life is short. Life is short.” I don’t understand why sometimes the voice repeating this phrase sounds like Sean Connery’s. I wouldn’t think voice-over work would be his first choice.

By third grade, I had been around adults enough to understand that as you get older, it is expected that you go to school, graduate, get a job and then work until you’re too old to continue. I probably knew this before reaching that age, but I mention third grade because it was at this point I decided what I wanted to do after graduating: teach. From third grade through high school, I hardly gave my career path another thought; I had already decided to become a teacher.

As I progressed through school, I was lucky to be given the opportunities to try a variety of activities: baseball, tennis, computer programming, music and religion to name a few, and on a smaller scale, theater, photography and swimming to name a few more. I had the opportunity to determine where I might excel and what might not be a good match for me. For example, I think I made contact with a pitch once during my entire season of Little League, and when I did, the ground ball I hit was fielded by the shortstop and tossed to the first baseman for the out. There was no delusion: I knew I would never play for the Mets.

In elementary and middle school I benefited from GT curricula that were designed to allow me to be creative and to explore academic subjects that I wanted to learn about. Then in high school, I enrolled in honors and advanced placement courses when I could, and I participated in a number of extracurricular activities. In college, I studied music education and dabbled in a number of different minors, all topics that interested me rather than areas that offered a significant potential for earning money (although computer science could have been a lucrative career). I balanced that with being an officer in several different student organizations and teaching in local high schools.

As a result, from primary school until I left my job at a non-profit organization in late 2001, I was spending almost all of my time involved in activities I enjoyed. Unfortunately, that changed when I realized I had no money.

The college professor whose primary responsibility was to direct a three-hundred-fifty member corps-style marching band explained how she was one of the lucky few — someone who gets paid for doing something she was completely passionate about. Most of the rest of us get paid to work and, if there are any passions, they are extravocational. With debt to be repaid and no money to do so, I opted to switch gears and enter the corporate world.

In the decade most recently superseded, I tried the business thing. I spent most of that time working for a large corporation. For a few years, I spent a lot of my time after work completing a master’s degree in business. I tried these, even knowing they didn’t feel right for me, because building a career is what sensible people do. And I know why, despite being a leader in just about everything I’ve done prior, and despite my talent and reputation for being able to do just about anything at work, I don’t make a very good leader in business: my heart just isn’t in it.

Also this past decade, I was fortunate enough to start writing Consumerism Commentary at a time when people were on the verge of realizing that the internet is a great place to discuss personal finance. Although I’m probably still a better musician than I am a writer, I’ve found a new passion in writing. To make this decade successful, I intend to continue to seek out opportunities to discover new and old passions such as writing and photography. I’ve enrolled in a second photography class this winter and I’m keeping my eyes and my mind open to finding ways to be involved with more of the activities I enjoy.

In addition to cultivating new and old passions, it’s also important to eliminate anything that doesn’t stem from passion as much as possible. The more you are doing things you love, the less you’ll have time for that which you don’t. I don’t think you can always “do what you love and the money will follow,” but you can do what you need to do only as much as you need to do it, so you can focus more of your energy on your passions.

What if you don’t know what your passions are? That’s an understandable situation but there is an easy solution: try everything. Don’t waste time, life is short. The best improvisational comedy relies on the “Yes And” rule. When you are part of an improv scene, your answer to every question is, “Yes,” but your answer doesn’t end there. You need to add another layer or level to the idea that is being tossed around.

To find your passion, say, “Yes,” to everything, even if no one asked a question. When by yourself, if you find your brain wondering, “Should I…,” there is no reason to finish the thought; the answer is yes.

I don’t like to write much about things like “fulfilling your intrinsic potential” or “becoming a wonderful human being” or “being who you want to be.” In my experience, most of the time people who talk like that are trying to sell something. But if there’s any one thing you can do right now to make this decade truly stand out, that one thing is to do something you love.

Starting now, I plan on spending more time pursuing my passions and less time on those things that don’t feel right for me.

This article is part of a series called Start the Decade Off Right on Consumerism Commentary. Previously: Pay off debt, open a high-yield savings account, invest for the future.

Photo credit: An Ta

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The Madoff Name Premium

by Flexo

On Saturday, an auction in New York featured items once owned by Bernard Madoff. The auction raised over $900,000, beating expectations. Once combined with proceeds from another auction later this week, it’s likely that this money will go to investors who were burned by Madoff’s Ponzi scheme. Here are some of the items that received ... Continue reading this article…

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How to Save Money at Baseball Games

by Flexo

I am not a very good baseball fan. I grew up with the Mets as the team of choice in my family although none of us were much into sports. This loyalty was solidified with the team’s World Series win in 1986 when I was ten years old, the prime age for baseball fandom. Now ... Continue reading this article…

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The $700 Bailout Bill Proposed By the Senate is Not Good Enough

by Flexo

In the original version of this article, I was under the impression that the Senate had passed this bill already. It hasn’t; they have only just released the details to the public. A vote will come later. Over the weekend as I watched the Mets end a frustrating season with a disappointing final series, the ... Continue reading this article…

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This Tee-Shirt Was Brought to You By Pepsi (And This Mustache by Just For Men)

by Flexo

Why is it that everyone wants me to advertise for them for free, particularly when it is related to sports? At almost every baseball game attend, I can receive “free” gifts. Last year, in return for buying a ticket to one particular game, I received a bucket hat with my team’s logo. Just several hours ... Continue reading this article…

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