Bankruptcy

Hey Ernie, Let's Play 11!

By Adam Levitin

The Cubs filed for Chapter 11.  Yes, I recognize that this has nothing whatsoever to do with the quality of their play, which has itself frequently been bankrupt.  But the Southsider in me is enjoying a moment of Schadenfreude despite the Sox's subpar year.  Maybe the Cub's plan will provide for a World Series title.  Do I hear feasibility objections?     

I figure that the Cubs reached a deal with the Player's Union that they would not reject any executory player contracts in bankruptcy, but there are certainly some contracts that should be rejected on an economic basis in terms of underperforming players, such as  Fukudome or Zambrano... 

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Full post as published by Credit Slips on October 13, 2009 (boomark / email).