COMMENTS FROM THE PEANUT GALLERY - MIKE IN DA - MARCH 4, 2011

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Written by: Mike in DA
Date posted: 3/4/2011


IRS VS. BCS: WHO ARE YOU ROOTING FOR?

At this is the time of year, income tax filing is on the mind of many of us. Those like me have already filed and await our refunds, while some are looking at their checking account to see the damage done when the check they sent to the IRS (Internal Revenue Service for the acronym-challenged) cleared their bank.

Others are in the process of gathering all their information and trying to make sense of the numerous forms and schedules and their accompanying instructions. Still there are others who know they have to file, but they are holding off because they know it is a task that they detest and maybe there will be a nuclear war in the next month or so negating the need to file at all. No matter how you look at it, tax filing is on lots of people’s mind these days.


Income taxes should also be on the minds of the people who are in charge of the BCS because the IRS has started to investigate and audit the Orange Bowl, Sugar Bowl, and Fiesta Bowl for what AP (Associated Press for the acronym-challenged) has called “tax irregularities”. The investigation comes from a complaint filed with the IRS last autumn by a political action committee, which we'll call the Playoff PAC (Political Action Committee for the acronym-challenged). Of the four BCS Bowl Games, only the Rose Bowl is safe from IRS investigation right now.

Playoff PAC alleges that the Orange Bowl paid the freight for college administrators for a “lavish Caribbean cruise where no business was conducted”. They also allege that officers on the three bowl committees under investigation get very hefty salaries for token efforts and that various employees have received private benefits not proper for a tax-exempt business. Playoff PAC charges that these kinds of activities ought to remove the tax-exempt status of the Bowls.

I am not a big fan of political action committees; the reason being that these organizations often seek provisions in legislation that are beneficial only to a narrow segment of society or the economy even if those provisions might be to the detriment of our society or the economy as a whole. Usually, political action committees are not good things. Although I agree with what Playoff PAC obviously seeks as its end result, which is to take away the BCS Bowls' tax-exempt status, I am wary of saying too many nice things about it because it still is a political action committee and they usually have something else on their agenda.

Having said that, Playoff PAC has focused on the single way to make a college football playoff more attractive to college presidents and administrators. These are the same folks alleged to have joined the Orange Bowl on that Caribbean cruise. The driving force is money. Since the Bowls are tax-exempt organizations, just think about the twisted reasoning that would wind up with those events being anything other than a moneymaker for the “inside group”; they get to share all of the revenue they take in with the schools and with themselves.

Uncle Sam does not get the share he would get if the FedEx Orange Bowl was actually run by FedEx as a cost center of that corporation. By not paying Federal Income Tax, there is a lot more money to share; even my 12-year-old could figure that out.

Added to the IRS investigation/audit, John Junker (left), the CEO of the Fiesta Bowl is on “administrative leave” while a separate investigation determines if the Fiesta Bowl under his direction made improper political contributions. I hope he isn't getting paid while on leave. That investigation is a different animal; that investigation potentially involves criminal activity.

The BCS is not one of the nation’s favorite organizations, but then neither is the IRS. Pitting one against the other makes it difficult to decide for whom to root for. At this time of the year, the IRS is often the target of jokes from Jay Leno et al. 


However, in this situation, the IRS is going after an organization of moneyed men who have arrogantly denied a lot of fans what they want at the end of the college football season. They have done so by wielding their economic muscle, which is enhanced by their tax-exempt status.

Remember, when presidential candidate, Senator Barrack Obama, said he was in favor of a football playoff and would throw his weight around on the matter if he were elected president. This could get interesting, even if the IRS moves ahead without getting too political in the process.

As I understand it, the bowls have their tax-exempt status because their "mission" is to further the cause of education by paying out money to colleges that participate in the BCS games. Personally, I am in favor of furthering the cause of higher education in our country, but that “mission” seems a little hard to believe in this case. 

Now when you throw in allegations of lavish spending on benefits for a few folks that have nothing to do with higher education and maybe even contributions to friendly politicians by bowl employees that would then be reimbursed to those employees from the petty cash fund, you find a big mess.


Personally, as far as the BCS vs. a playoff system is concerned, I prefer it the way it is now. However, it looks like the Playoff PAC is trying to take down the BCS and put a college football playoff in place. Obviously, an audit/investigation with unfavorable findings from the IRS here would definitely hurt and embarrass the BCS system.

This opera has just started. Just like the early stages of the Balco investigation back in 2003, when the IRS got involved, the fat lady hasn't sung yet. As a matter of fact, she hasn't appeared on stage yet.

I wonder if our local sports talkers have made any mention of this investigation yet or are they waiting for it to make the headlines of ESPN first like in the Balco case.

Stay tuned!

MEDICAL NEWS

There was a report in the Houston Chronicle the other day (3/3)that Serena Williams was recovering from surgery related to a pulmonary embolism. In sports, people often talk about surgeries in terms of being “career-threatening”; pulmonary embolisms go beyond that all the way to “life-threatening”. I don't particularly care for the sport of tennis, but wish Serena a full recovery.

In more medical news, I read a report about two weeks ago that identified Dr. Charles Tator as a neurosurgeon who was quoted regarding the status of NHL superstar, Sidney Crosby, who has been out of action for a couple of months now following a concussion. Dr. Tator said, “I hope he gets back . . . but he may never be the same.”



Crosby is only 23 years old. If Dr. Tator’s assessment becomes fact, the Pittsburgh Penguins and NHL fans will not get to see a full career for a player who some consider to be the best in the game already at this young age. Just the other day, there was another report saying that Crosby’s concussion symptoms still persist. He has already been out of action for about two months; if symptoms still persist, Dr. Tator’s words may come true.

CARSON PALMER TO BENGALS: "GET ME OUTTA HERE!!!" 

Cincinnati Bengals’ QB, Carson Palmer speaking to a reporter for WCPO, a TV station in Cincinnati, earlier this week said, “I will never set foot in Paul Brown Stadium again … I have $80 million in the bank. I don’t have to play football for money. I’ll play it for the love of the game but that would have to be elsewhere. I’m prepared to live my life.”

Assuming that he is telling the truth about his bankroll, he clearly has no need to play football for a living or do much of anything for a living for that matter for the rest of his life. I would give him some financial advice to take $60 million from his bank and put it in AAA tax-free municipals maturing in increments between 2035 and 2050. He can earn between $2.5 to $3 million per year tax-free. In addition, he still would have $20 million left over to do whatever he wanted to do with it. He wouldn’t have to worry anymore about getting tackled, concussed, or any serious injuries, if he retired.

However, his comment that he will “never set foot in Paul Brown Stadium again” is a bit reckless in the event that the Bengals trade him to another team whose schedule calls for them to play the Bengals in Cincy.

What remains to be seen here is the response of the Bengals. Remember when Chad Ochocinco swore he would never play again for the Bengals and demanded a trade. The team in the person of Coach Marv Lewis said that Ochocinco was under contract to the Bengals and they would not trade him, so it was time for him to put up or shut up. Ochocinco reported to the Bengals and has continued to play for them. So, will the Bengals treat Carson Palmer the same way or might the Bengals see this as an opportunity to dump him.


At least a half-dozen NFL teams have a need to upgrade their rosters at the QB position. Palmer is not in the elite level of NFL QBs, but he is significantly better than what some teams put on the field every week during the season. The Bengals ought to be able to get value in return for him, unless they play their “my way or no way” card once again. This could be interesting. Stay tuned!


ODDS AND ENDS:

1. Just in case you didn’t get a chance to see the NFL Combine on the NFL Network, it was must-see TV for anyone who gets excited seeing things like 300-pound linemen run a 40-yard dash.

2. St. Louis Rams scout, Luke Driscoll, while in Indianapolis for the NFL Draft Combine, got arrested for urinating on a building in Indianapolis. I wonder if Luke might use the “free speech defense” against these “urinating in public” charges. He could say he was simply making a statement about what he thought about Indianapolis in the wintertime. Oh, wait, the Super Bowl will be in Indianapolis next winter. I guess that defense won't work.

3. The NHL Florida Panthers drew less TV viewers recently in South Florida than an infomercial for a food processor. Mike Bianchi of the Orlando Sentinel wrote: ".... pureed squash gets better TV ratings than when the Panthers get squashed."





CRIER’S CORNER

BASKETBALL ACTION


Yesterday’s Record ATS: 4-1
W - DENVER (+3.5) over UTAH*
W - TENNESSEE at SOUTH CAROLINA* (TOTAL OVER 133.5)
W - HAWAII (+4) over SAN JOSE STATE*
W - WASHINGTON STATE* (-4.5) over USC

MISSOURI VALLEY CONFERENCE TOURNAMENT (at St. Louis)
L - DRAKE (+1) over BRADLEY


Cumulative Season Record ATS (excludes “pushes”): 437-278


Today’s Action (for reading purposes only):

NBA

PHILADELPHIA* (-9) over MINNESOTA
Philly has overachieved this year. They entered the All-Star break 35-20-1 ATS and in a dogfight with New York for the 6th playoff seed. The Sixers crushed the Wolves last month in Minnesota when seven guys were in double figures. Elton Brand may not be the player he once was, but he’s close to putting up a double/double every night. PHILADELPHIA, 110 – 93


NEW YORK* (-12) over CLEVELAND
It doesn’t figure to take Melo long to fit into Coach D’Antoni’s system as he pretty much just wants to get the ball up and put the pressure on the defense in that manner. The concern for New York in the long run is that Melo is a ball stopper. He doesn’t catch and shoot, but he has to maneuver for his shot and that is against the offensive philosophy. The key component this year in the trade for the Knicks is Chauncey Billups, who has a ton of experience, is not afraid of taking the big shot, and he can still play. NEW YORK, 109 - 91


SAN ANTONIO* (-2.5) over MIAMI
There are some in the league that figure this will be a preview of the Finals. The feeling is the Spurs have a much better chance of getting there than the Heat. This is not the best of scheduling for Miami as they had to deal with Dwight Howard and the Magic last night in South Beach. Look for Manu Ginobili to be sky high to take on the South Beachers that get all the publicity. SAN ANTONIO, 110 – 99


CHARLOTTE at LOS ANGELES LAKERS* (TOTAL OVER 190.5)
This is a revenge game, as the Bobcats humbled the Lakers in Charlotte recently. The Hornets caught the Lakers in a back-to-back and off a 14-point loss to the Magic. Lamar Odom had a poor night and he is one of the major keys to the success of Los Angeles. Matt Barnes’ torn right knee is close to being okay and he will be a much-needed addition to a sagging Lakers bench if he can resume his tough-guy role. LOS ANGELES, 109 – 101


COLLEGE HOOPS


PRINCETON (-12) over DARTMOUTH*
The Tigers have demonstrated remarkable efficiency in their Friday-night Ivy engagements with fresh legs, exceeding market expectations on each occasion. Expect more of the same, with the Ivy title and another chance to irritate and bully some haughty big-name Big Dance foe lay within comfortable reach. PRINCETON, 70-52


COLONIAL CONFERENCE TOURNAMENT (at Richmond, VA)

DREXEL (-10.5) over TOWSON
These two played a superficially-close game at Towson Saturday, as the Tigers struggled and failed to get off a conference schneid. Wouldn’t be at all surprised if this were closer, but Towson will struggle against this defense. DREXEL, 61-45

HORIZON LEAGUE TOURNAMENT (at Milwaukee, WI)


CLEVELAND STATE* (-3.5) over WRIGHT STATE
Wright’s senior guard Troy Tabler has returned from a 9-game injury absence, but the results have not been good for him individually: 2-for-6 from the field in the season finale, 0-for-4 from the field in the opening round win against Wisconsin-GB. They are stepping up in class and physicality when they lace ‘em up against Cleveland State, and they need more production than that from a kid who normally plays 33 minutes per game, but has only been in there for 19 and 28 minutes in the two games since returning to duty. Wright State’s zone is an inviting target for the long range of CSU’s Norris Cole, and they can’t risk a junk D like a box-and-one against Cole because they don’t have the depth to withstand foul troubles. CLEVELAND STATE, 66-57


VALPARAISO* (-3) over DETROIT
If Detroit hadn’t waited until the last game of the regular season to beat somebody good (Wright State), then perhaps we could take them a bit more seriously. Their habit of pounding patsies was picked up again on Tuesday night when they hammered Loyola-Chicago, 90-69. Overall, they are a pretty inexperienced bunch, and in this tournament format, they are asked to play a true road game in a wild and crazy house against a foe that definitely tested itself on Bracket Buster Day by getting a game against the Missouri Valley’s regular season champ, Missouri State, against whom they cruised to victory. Detroit? They lost at Drake on Bracket Buster Day, and Drake was a no-show last night against Bradley in the Missouri Valley Tournament. VALPARAISO, 77-68.

WEST COAST CONFERENCE TOURNAMENT (at Las Vegas, NV)


PORTLAND (-7) over LOYOLA-MARYMOUNT
Even though cursed with the extra game, Portland got a great draw, but will cross their fingers for fresher legs if/when they hook St. Mary’s. PORTLAND, 72-60



MIKE IN DA


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