Baseball for the Thinking Fan

Login | Register | Feedback

btf_logo
You are here > Home > Baseball Newsstand > Baseball Primer Newsblog > Discussion
Baseball Primer Newsblog
— The Best News Links from the Baseball Newsstand

Friday, January 20, 2012

WSJ: Houston Astros Owner Mucked Up in JeffCo Bankruptcy

We release things drip by drip…and when I have my sewer bonds settlement statements ready for this year, I’ll release them!

Stuck at the unfortunate end of the debt-clogged sewer system of Jefferson County, Ala., you’ll find Houston Astros owner Jim Crane.

Fresh into his takeover of the Texas baseball team, Crane has been ordered by a bankruptcy judge to reveal details of his settlement with J.P. Morgan Chase & Co. over $35 million worth of sewer bonds that he bought from the investment bank four years ago—a personal investment that quickly turned to, er, garbage.

Those dirty details, which are not public, are what Jefferson County attorney are seeking amid their own fight with the bank over the complicated series of dealings that, with a little help from a corruption scheme that ensnared the county’s top elected leaders, left the county swimming in a pool of toxic debt.

Ultimately, the county—Alabama’s most populous with roughly 658,000 residents—filed for Chapter 9 bankruptcy protection, marking the largest municipal bankruptcy in U.S. history.

Crane said he got stuck with a bum deal, too, according to court documents filed in Texas state court.

Repoz Posted: January 20, 2012 at 04:48 PM | 15 comment(s) Login to Bookmark
  Tags: astros, business, media

Reader Comments and Retorts

Go to end of page

Statements posted here are those of our readers and do not represent the BaseballThinkFactory. Names are provided by the poster and are not verified. We ask that posters follow our submission policy. Please report any inappropriate comments.

   1. Jose is an Absurd Doubles Machine Posted: January 20, 2012 at 05:09 PM (#4041544)
Someone get a camera at bbc's house. I want to see her head do a Linda Blair style 360 degree spin.
   2. TerpNats Posted: January 20, 2012 at 05:56 PM (#4041581)
Hate for the Astros to be compared to garbage, but...
   3. Textbook Editor Posted: January 20, 2012 at 08:54 PM (#4041686)
I think there was a Planet Money story about this county a while back. Well, with investment savvy like that, Crane is sure to be one shrewd operator as owner of the Astros.

Sorry, bbc.
   4. base ball chick Posted: January 20, 2012 at 09:44 PM (#4041707)
crane is not at the END of a sewer, that is fer SHER

the astros are in fact a garbage team and will be as long as crane owns them. bud knew it and he didn't care because of the sale price jacking the price of the dodgers and mets

ah well, this is my last year as an astros fan anyhow and no i still haven't decided who to root for next year. i'm leaning toward the braves

as for a camera at my house, well, i've already been through the 5 stages of grief and the astros are alreay in hospice
   5. Sam M. Posted: January 20, 2012 at 10:06 PM (#4041723)
i'm leaning toward the braves


You'd really do that to me, Lisa?

And I thought only gay men could do me like that.

Damn.
   6. Der-K: downgraded to lurker Posted: January 20, 2012 at 11:38 PM (#4041745)
Hey, a lot of us are alright!
(Uh, Braves fans.)

We'd be glad to have you, bbc - but I do think you should reconsider sticking with the Astros. Mainly because I believe in sticking with a team but they're also making (imo) better decisions in recent days than I've seen coming from the org in awhile. (Not talking Crane. Heck, he's a better reason to abandon the club than the DH (again, my opinion).)
   7. base ball chick Posted: January 20, 2012 at 11:48 PM (#4041748)
sam,

well, it's not like i've made up my mind. i can't root for the mets with wilpons on em
i'm thinkin bout the crew - gonna change my name to harvey-ette

der k

no, this IS the last year. i'm not rooting for no DH containing team. let alone a crane owned team. he just fired pam gardner, the president of business - which means he intends to do lousy. he can go rot in the sewer
   8. Bring Me the Head of Alfredo Griffin (Vlad) Posted: January 21, 2012 at 05:15 AM (#4041786)
Heck, he's a better reason to abandon the club than the DH


Staying with a team after it starts using a DH full-time is like staying with a significant other who just started turning tricks on the street for meth.
   9. Avoid running at all times.-S. Paige Posted: January 21, 2012 at 11:08 AM (#4041826)
Leaving a team after it starts using a DH full-time is like leaving your wife while she's in the hospital being treated for cancer.
   10. TerpNats Posted: January 21, 2012 at 12:26 PM (#4041868)
Lisa, the Nationals fan base always welcomes you.
   11. Tripon Posted: January 21, 2012 at 12:34 PM (#4041875)
Be a Dodgers fan! We're either going to have Magic Johnson, or Joe Torre as the owner.
   12. Walt Davis Posted: January 21, 2012 at 02:33 PM (#4041941)
I think I know how to settle this for ya bbc ...

who's hotter?

Jason Heyward and Freddie Freeman

or

Ryan Braun and Yovani Gallardo

The Cubs would of course be honored to have you but we know you're too smart to put up with our loud, obnoxious, drunk, piss on your lawn asses.
   13. Joe Kehoskie Posted: January 21, 2012 at 04:06 PM (#4041976)
Be a Dodgers fan! We're either going to have Magic Johnson, or Joe Torre as the owner.

About 10 billionaires might have something to say about that. The buyer list for the LAD is unreal.
   14. Bring Me the Head of Alfredo Griffin (Vlad) Posted: January 22, 2012 at 03:52 PM (#4042563)
Leaving a team after it starts using a DH full-time is like leaving your wife while she's in the hospital being treated for cancer.


More like leaving your wife after she had surgery to add a penis.

In this hypothetical, it can be a penis made entirely out of cancer, if that'd make you feel better about the whole thing.
   15. greenback is not cosmopolitan Posted: January 22, 2012 at 05:38 PM (#4042611)
Somebody bought $35 million in Jefferson County sewer bonds in 2008? Jesus.

You must be Registered and Logged In to post comments.

 

 

<< Back to main

News

All News | Prime News

Old-School Newsstand


BBTF Partner

Support BBTF

donate

Thanks to
danielj
for his generous support.

Bookmarks

You must be logged in to view your Bookmarks.

Hot Topics

NewsblogLCS OMNICHATTER for October 18, 2017
(463 - 3:02am, Oct 19)
Last: SouthSideRyan

NewsblogOT: New Season August 2017 Soccer Thread
(1165 - 2:11am, Oct 19)
Last: Dale Sams

Gonfalon CubsFive minute Los Angeles Dodgers Preview
(65 - 1:48am, Oct 19)
Last: Walt Davis

NewsblogAfter Yasiel Puig tried and failed to avoid Javy Baez's tag, Baez teased him and they both laughed | MLB.com
(32 - 1:26am, Oct 19)
Last: Voodoo

NewsblogOTP 16 October 2017: Sorry, Yankee fans: Trump’s claim that he can ensure victory simply isn’t true
(1136 - 1:17am, Oct 19)
Last: PepTech

Gonfalon CubsFive minute Washington National Preview
(182 - 12:32am, Oct 19)
Last: Meatwad in 7

NewsblogAngell: Yanks Get Even
(5 - 11:47pm, Oct 18)
Last: ERROR---Jolly Old St. Nick

NewsblogOT - NBA 2017-2018 Tip-off Thread
(335 - 11:11pm, Oct 18)
Last: Mike A

NewsblogYankees even ALCS with late rally vs. Astros | MLB.com
(97 - 10:52pm, Oct 18)
Last: Nose army. Beef diaper? (CoB)

NewsblogMemes roast Astros after unexpected loss to New York Yankees - Houston Chronicle
(10 - 9:45pm, Oct 18)
Last: rconn23

NewsblogDo the Cubs realize how badly the Dodgers insulted them on national TV? - Chicago Tribune
(31 - 8:58pm, Oct 18)
Last: Voodoo

NewsblogDallas Keuchel embraces the ‘calmness’ of being Yankees killer | New York Post
(2 - 8:48pm, Oct 18)
Last: ERROR---Jolly Old St. Nick

NewsblogOT - 2017 NFL thread
(139 - 6:22pm, Oct 18)
Last: zenbitz

NewsblogThe story behind Los Angeles Dodgers utility man Chris Taylor's unbelievable season
(13 - 6:16pm, Oct 18)
Last: Omineca Greg

NewsblogDodgers aren’t showing any shortcomings even without Corey Seager | LA Times
(11 - 4:34pm, Oct 18)
Last: Walt Davis

Page rendered in 0.3558 seconds
47 querie(s) executed