$100,000 buys a lot of squash: a Let Them Eat Cake UPDATE

February 3, 2009

An ever-vigilant reader of this blog brought this to my attention today.  Send your news links and stories of corporate arrogance to barbedwiresmile@gmail.com

 

This just in:

 

“JP Morgan, Amex sponsor New York squash tournament amid $28 billion bailout”

The weeklong event — the Tournament of Champions — was held Jan. 23-29 at Grand Central Terminal and sold roughly 4,500 tickets. The tournament’s see-through court attracted thousands more passers-by and commuters who caught a glimpse of one of the “world’s premier squash championships,” according to tournament director John Nimick.

Squash Tournament of Champions

 

 

Some critics said the sponsorship for the elite event was a waste of money — especially for corporations that are getting federal bailout money.

Who are these outrageous critics, and how dare they so brazenly suggest that $125,000+ squash tournaments are a poor use of funds by insolvent banking institutions?

“It’s frustrating for the average American taxpayer to see corporations who received federal bailout funding to be spending money on events like this,” David Williams, vice president of policy for Citizens Against Governmental Waste

David, my friend, “frustrated” doesn’t begin to describe it…

JPMorgan Chase and American Express defended their participation in the event.

Naturally.  “Let them eat cake!”

“We constantly evaluate events as they come up for renewal.”

I think that may be the problem.  How about simply eliminating all ‘sponsorships’, resort getaways, hunting expeditions and associated waste until such a time as you no longer need taxpayer funds to support failed, insolvent business models?

How about, dare I say? A MORETOREUM

Joanna Lambert, vice president of American Express’ public affairs, said the tournament was a “very minor” sponsorship for the company

Implicit in this statement is that there are other, larger events looming on the horizon.  And I’m waiting on the edge of my seat.

 

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