expansion: December 2008 Archives

Mark Teixeira

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Well, at least one thing is consistent in the recession: the New York Yankees can still spend with abandon. With their signing of first baseman Mark Teixeira to an eight-year, $180 million contract, the Yanks now possess the top four highest-paid players in baseball, at a total commitment of more than $800 million.

Unlike, say, Goldman Sachs, these salaries don't get absorbed by management fees; the costs are, in part, passed to consumers. To that end, the Yankees--who recently sought $350 million in public financing before spending $421 million on free agents--are raising ticket prices for next season. The price increases reflect the new Yankee Stadium, which is nearing completion, as well as the player expenses. Nearly half the stadium now costs more than $45 a ticket.

Three grocers growing

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Safeway is investigating new locations and plans to open 36 stores in 2009, taking advantage of the depressed real estate market. CEO Steve Burd cites "extraordinary opportunities" for aggressive buyers right now.

Similarly, Aldi is expanding in the Dallas-Ft. Worth area. The discount grocer is adding as many as 25 new doors in the next 18 months, spurred on by strong sales as consumers look for bargains.

And Tops Markets is growing by up to 10 stores in upstate New York while investing $150 in capital improvements to existing locations.

Timely Demise tracks the retail industry as it changes with our unprecedented economic environment. By David Wertheimer. Did I miss something? Drop me a line.

About this Archive

This page is a archive of entries in the expansion category from December 2008.

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expansion: January 2009 is the next archive.

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