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Originally Posted by pauwoo
Are you a fan of the Mariners, because if true, in spite of this tit for tat, that makes us friends.
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No
And no, it wouldn't
I can't think of much that would have less impact on who I considered my friend than sports team allegiance
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But, it makes me laugh and it doesn’t have to make you laugh. You don’t need to get it. That’s not a requirement of my merriment. I’m not an economist - but I do think it’s funny that Bobby Bonilla has this windfall every year - I like to imagine that he will be buying a fleet of jet skis with gold plated handle bars for cruising down the Hudson with his pals.
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Yeah, so, about that ECON 101 exam.
Imagine a person in 1999.
Their salary is $59,000
Instead of taking that salary they make a deal with their boss to wait until 2011 and then take $11,900 a year for 25 years.
Has this person massively increased their wealth by doing this? What's an $11,900 salary in 2020? Or 2035?
If Bonilla wanted gold-plated jet skis he could have, you know, bought them with the $5.9 million.
If he'd invested the original 5.9 million and received 8% interest it would have grown to over $100 million by 2035. Of course, he also could have lost all of it by making poor investments (gold-plated jet skis, perhaps)
That he took the deferred payments suggests a conservative approach, not a flamboyant one. He, basically (unless the Mets went bankrupt), assured himself 25 nearly $2 million dollar payments. A pretty secure investment, but not a flashy one
The Mets have the opposite math.
They had no payment from 1999 to 2011. And could invest that money in other player or in financial investments. At the time, they thought they were earning 12-15% on their investments. So, deferring the payments was a easy call for them.
Nothing personal. But people should understand stuff if they are going to try and make fun of it. Otherwise, they end up not looking great
Quote:
Originally Posted by BirdWatcher
Personally, just saying the name Bobby Bonilla makes me happy. Not sure why. Just one of those names that has a pleasing sound to it that brings a smile to my face.
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I have Bonilla on my team in my current sim.
I prefer the nickname "Bobby Bo" (said very quickly so everything blends together. And often following "let's go").
Quote:
Originally Posted by pauwoo
Man, had the M’s been on this list the joke would’ve really been on me! Yikes.
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The Mariners deferred $64.5 million of Wei-Yin Chen's $80 million contract
And, yeah, Ichiro through 2032
Surprised you didn't know that since it combines your fandom of the Mariners and appreciation for deferred payments.