Here’s my question: Will there be more ATM’s?
Posted by: Sam Borden - Posted in Misc on Feb 04, 2009 
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I sat in the auxiliary press box during the Home Run Derby at Yankee Stadium last season, which meant that I was sitting about 50 feet from the big Bank of America sign that’s painted on the back wall in right field. When Josh Hamilton was hitting home runs for an hour that night, one of the longest shots crashed off the sign, a blast that wasn’t all that far from going clear out of the ballpark.
I mention this because that was pretty much the extent of my awareness of any kind of previous Yankees partnership with Bank of America. I’m sure there are other examples – and probably very obvious ones – but I never really noticed much of a BOA presence.
Now it seems that will change. While the Mets have had their issues with Citi, the Yankees are moving along in negotiations with BOA about a major sponsorship arrangement – that, it should be noted, will NOT include naming rights to the new stadium. (I included the above link because I thought it did a good job explaining some of the financial particulars.)
I’m no math whiz, but it does strike me as somewhat strange that BOA – which just received a ton of federal bailout money – is looking to jump into a big sponsorship deal. But then again, it also seems strange to me that Citi still gets to put its name on the Mets new park, too.
thank god the yankees didn’t name the stadium after a failing institution
when are teams gonna learn?
With what I fear they’re going to charge for concessions, there should be an ATM terminal on the back of every seat.
BOA sucks
$5 stock – corrupt to the hilt and will charge $4 to use their ATM’s in the stadium
Wish the Yankees would deal with a different bank – smaller ones – that are not looting the American treasury
and yet another new post…
BoA had ATMs throughout the stadium. Specifically I remember them near the higher end food stands. They also provide the Yankees branded credit cards. I’m sure you noticed the stands to apply for one all over the stadium.
As for BoA receiving federal money, they’re a little different than most. BoA was perfectly fine on their own financially. The government asked them to buy other companies that were having financial trouble, and provided them with money to offset the financial problems of the banks they were acquiring.
While it looks bad for a company receiving bailout money to have a stadium deal, the stadium deals actually make and save money for the institution. That is a lot of advertising they receive through the naming deal, which helps their business.
While I find the trend annoying, especially in the college bowl system (who will brag about winning the Papajohns.com bowl?) it is a valid expenditure for these institutions.
As for “looting the American treasury” it is not BOA’s job to protect the taxpayers, but it is Congress and the President’s job to do so. If the government offered me $1 million, I would take it. I feel the same way about how the Yankees financed the new stadium. If the government says yes when you ask for money, why not take it?
I have no problem securing my 11.50$ beer in my new Bank of America cupholder!
I don’t see theses moves by Citi or BOA as being stupid at all. These moves are made in order to help the business through big advertising deals. Honestly…at least those banks are doing things to try and get ahead, instead of sitting around and doing nothing constructive with the bailout money.
“Pete, I just your piece..Thank you for the clearity and perception…Several of us here agree that Torre never breached any clunhouse traditions…Maybe the witch hunt on Joe Torre will lose some steam and the rantings will cease…..It’s been a tough week here at LoHud….”
Someone might want to tell Pat M. to put the bong down, stop the crying, and take a train to realityville.
1. The article was written by Sam Borden not Pete.
2. Pete is disgusted with Torre.
3. If only several of you think that Torre didn’t breach and the rest seem to think otherwise maybe you’re the ones who have it wrong.
The counterargument: BoA should continue to pursue an aggressive marketing presence to increase the rate of new business…they don’t get back to profitability by shutting down this activity.
Jason is right, they still have to participate in marketing. Also, BofA has the most expensive ATM’s out there. Are more of them really going to be that big of a deal?
On second though, it would be nice to know that when I do need an ATM I won’t have to walk down two levels and across the entire stadium to find one.
People don’t understand that BOA is basically insolvent to the tune of BILLIONS of dollars. They made bad decisions, like all the other investment banks, in dealing with bogus financial instruments which allowed them to basically spin straw into gold. That has all blown up now and has finally caught up with them. No amount of new business will ever make up for the black hole of destroyed paper wealth that they are now trying to pass off on the taxpayers with the aid of the federal government.
Erik,
You do realize all these bailouts will be paid by you and your kids and their kids don’t you? Doesn’t that piss you off just a tad? Or, are you employed by taxpayers already?
Vito-people like you act as if the government has imposed a new tax on the people specifically for these bailouts to the banking and auto industries.
The American people were already giving money to the government through taxes, so as long as they are trying to improve things with it (in this case the economy) then I’m fine.
i’m no financial/business expert, and hate to defend a bank like BOA, but are we suggesting that anyone that had any part of the bailout should just stop advertising?
that said, i always kind of shyed away from companies that advertise too much, including bank of america and geico.
Bryan V
YES it is a new tax on your future earnings as well as your kids and their kids. Look at the numbers – almost 2 trillion in new spending on top of the 9 trillion in debt the government already has. Who do you think pays that? Also these bailouts do nothing to help Americans – they are simply backstopping companies that should die.
saucy,
not suggesting that at all. Just saying that what little $ they make from a Yankee deal is ashtray change at best compared to the hole they have dug themselves and – thanks to the government bailout – us. What I am suggesting is that I am disappointed in seeing the Yankees partner with such scumbags but that’s business and the cost of buying our new toys (Sabathia, Tex, the stadium, etc)
American citizens pay federal taxes. The money for things such as these bailouts come for those taxes. These bailouts may cause taxes to rise, but honestly…that happens anyway due to inflation and other factors.
You say these banks and automakers “should die”. That’s ridiculous. Without those large companies, thousands upon thousands more people would be without jobs.
I don’t mean to say you don’t know what you’re talking about, but in this case I’d have to lean that way.
bru: I’m afraid the Yanks have named the new stadium after a failing institution.
“bru: I’m afraid the Yanks have named the new stadium after a failing institution.”
So instead of naming the stadium “Yankee Stadium”, they should have called it “Red Sox Stadium”…or after another team that apparently ISN’T a “failing institution”.
Unless you think the new stadium is going to be called “Bank of American Ballpark” or something.
Bryan,
You are clueless – taxes rise because of inflation? LMAO. Learn something about economics and we will talk. These bailouts are unprecedented. Great Depression level events are occurring daily in the economy of the whole world and you and others have no clue. To pay the debt being incurred by the federal government over the next several decades your taxes will have to go up to 80% or 90% and that’s with government cutting spending or reducing benefits on all it’s entitlement programs. These large companies getting bailouts are laying people off anyway and pocketing the money. Credit is still frozen – TARP was used to pay bonuses and the Fed won’t even reveal where a trillion of it went. Companies that have failed business models (Detroit car makers and large Investment Banks) should fail and will ultimately be replaced by better more efficient companies. That is how nature works and that is how capitalism works – when it isn’t being interfered with by governments like now. The world economic system is heading for a collapse/reset event and you can thank banks like BOA for kicking the mess of with a big assist by the Fed. I suggest you get yourself educated on what is happening.
Vito,
“Erik,
You do realize all these bailouts will be paid by you and your kids and their kids don’t you? Doesn’t that piss you off just a tad? Or, are you employed by taxpayers already?”
That was exactly my point. I am pissed at the government for what they are doing. I do not want people to focus their anger elsewhere.
Erik,
IMO BOA is more to blame for getting themselves into that position to begin with. Then they buy Countrywide – turd that it is – and makes itself even more “too big to fail”. At best they are grossly incompetent, at worse they are pure evil and did it on purpose. Either way they need to be gone.
Sam:
The Torre piece is right on. No one in public life, broadcaster, journalist, successful athlete, film and/or stage actors, in other words anyone in the public spotlight has an expectation of privacy. These people know that. It was good of you to wise up the innocents on this blog, and probably in other places. Keep it going.
Barry Lane
Last year I had the misfortune of needing to use one of the Stadium BoA ATMs. I think I was charged something like $5 or $6 for the privilege! Man was I angry….
On broadcasts during various games two BOA signs would often appear on each side of homeplate along the backstop, something roughly like “Bank of America, The Official Bank of the Yankees”, unsurprisingly at some point in the season I saw the exact sign reworded for the sox. No one likes someone playing both sides.
http://promotions.bankofameric.....ankees.gif
http://farm3.static.flickr.com.....dc.jpg?v=0
How about WiFi? That would be nice.
When I saw ATM, I thought it means
“A”rod “T”exeira “M”anny====> indefinite amount of $