Congratulations, Champion Huskies! Worth Every Penny?

Posted on April 7, 2011. Filed under: Uncategorized |

Congratulations to the Huskies of the University of Connecticut, champions of the world of men’s college basketball!

It may have taken a couple of years, but Coach Jim Calhoun definitively answered the questions that arose shortly after the economic crash regarding the value that college sports (and his role in particular) generates for the university and the state.

With a broader perspective, UConn’s 2009 handbook UCONN-OMY contains 32 pages of facts, data, and photos that quantify the university’s sports and other contributions to the economy of the Nutmeg State. Pages 28 through 31, for instance, note that 320,000 fans have attended basketball games in Hartford, 225,000 fans have attended football games in East Hartford, and biennial women’s basketball tournaments have been staged in Bridgeport. The handbook pages also note the wide array of Husky branded products that generate tax revenue for the state.

A subtle anachronism, however, can be found across the inside cover and first page of the booklet; it features a double page photograph of a live working model of a classic New York Stock Exchange trading floor. An opening bell was actually rung during the ceremonial opening of the floor on October 29, 2002; it anchors the lobby level of the Business Graduate Learning Center at UConn’s downtown Hartford location.

Why is the trading floor anachronistic? Very little trading of stocks actually occurs on the floor of the real-world Wall Street institution today; most of those employment positions have been rendered obsolete by new electronic exchanges.

We can safely assume, though, that Coach Calhoun’s game plan contained no anachronisms; his own continued employment would appear to be a “sure bet.” The State of Connecticut has invested significant resources in his program, and he has provided the greatest Return On Investment imaginable: a world championship.

Contributed by Michael Kraten, PhD, CPA, Accounting Professor at Providence College and President of Enterprise Mgt. Corp.



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