This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Obama, Harper Should Intervene in NHL Lockout

NEW YORK ( TheStreet) -- I support New York City Mayor Michael Bloomberg's decision to ban super-sized sugary drinks.

Bloomberg's move actually has something to do with the NHL lockout, at least on a theoretical level.

Sometimes government needs to save people from themselves. Often we're too stupid, too lazy, too driven by emotion or lack the willpower to make the "right" (that's a loaded word!) or "best" choice for ourselves and those around us.

I spent Thanksgiving weekend in Phoenix. It's hardly a hockey town, but several people called me out for the Toronto Maple Leafs cap I wore.

The valet guy shouted "Darryl Sittler" (a classic old-time Leaf) when he saw my hat. Turns out the guy is an Edmonton Oilers fan. We lamented the lockout every time we saw one another over the weekend.

I had several hockey conversations with people in Phoenix. Phoenix of all places. I'm not going to say the city is emotionally devastated, but the lockout is affecting people. Often in very real ways.

The local news did a story on a sports bar that misses out on between $18,000 and $25,000 in revenue each night a scheduled Phoenix Coyotes game doesn't take place. The City of Glendale loses roughly $60,000 in tax revenue per game. It can't quite quantify the overall impact on its economy.

Remember. This is Arizona. "Nobody cares about hockey in Phoenix." Relative to most other NHL cities, I guess that's true, but it doesn't mean people aren't getting hurt in Phoenix just as they are in Toronto, Winnipeg, Buffalo and Boston.

We could go city by city numerating the losses. I could get all emotional on you and rip NHL commissioner Gary Bettman and a handful of big market owners for single-handedly destroying a sport, screwing with Canada's pride and passion and depriving cities and businesses from across North America of much-needed revenue.

But that sort of talk just feeds the fire.

This NHL labor dispute had to happen. Yes, it should have been dealt with pre-emptively. Anybody who even casually observes hockey saw the lockout coming. But, it wasn't headed off. So here we are. I don't care who's right or wrong. I don't even care about how or when they solve this thing.
1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.19 -1.04%
FB $118.06 0.54%
GOOG $695.70 0.48%
TSLA $222.56 -4.20%
YHOO $36.00 -0.03%


Chart of I:DJI
DOW 17,651.26 -99.65 -0.56%
S&P 500 2,051.12 -12.25 -0.59%
NASDAQ 4,725.6390 -37.5850 -0.79%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs