When Padres owner John Moores and CEO Sandy Alderson attended a general meeting yesterday among major league owners, they heard from a prominent speaker on challenges that go far beyond the Baseball industry.
"Paul Volcker closed the meeting with a presentation on the economy," Alderson said. "You can imagine how that went." Volcker was chairman of the Federal Reserve under Presidents Carter and Reagan from August 1979 to August 1987. His legacy includes coping with stagflation. Volcker now is an economic adviser to President-elect Barack Obama.
Despite the economic downturn gripping the nation, Baseball will make headlines this offseason with megamillion contracts for players such as CC Sabathia, Mark Teixeira and A.J. Burnett.
The Padres will not be among those shopping for such players. They face an apparent triple-whammy on the financial front: Moores' pending divorce, a national and local downturn, and fallout from their 99-loss season.
Alderson has noted that the Padres are not alone among Baseball clubs facing unusual economic pressure. One of their rivals, the Arizona Diamondbacks , recently dismissed 31 front-office employees. Another rival, the Colorado Rockies , recently traded Matt Holliday, a homegrown star, because he had become too expensive.
Alderson said the meetings included an upbeat report on the new MLB Channel to launch Jan. 1, "which should be great for all fans," he said.
The Padres also learned recently that Qualcomm has agreed to buy a second corporate suite at Petco Park for the 2009 season.
