Tuesday, June 28, 2011

How to Avoid Filing a Chapter 11 Bankruptcy if You're a Baseball Team Called The Dodgers

Sometimes it's better to be lucky than smart.

If your business is in a strip center and the city tears up the street right in front of the only entrance to the center, you may well need the services of a bankruptcy lawyer, even if you're doing everything else right.

And if you're a Major League Baseball Team and you have a three-billion dollar contract over a number of years, you absolutely don't need to file a Chapter 11 Bankruptcy.

Unless, of course, Major League Baseball Commissioner Bud Selig refuses to let you enter into the three-billion dollar contract that will bail you out and make you a happy, healthy Dodgers.

So remember, kiddies; it's better to be lucky than smart. And you need to work to find solutions to your problems, but sometimes a Commissioner is going to be standing in your way, and then it's not Miller Time. 

It's bankruptcy time.

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