04-29-2010, 03:57 PM
Posted on gomeangreen.com by LongJim
Stadiums Top Stocks as Colleges Bet Football Is Recession-Proof
By Curtis Eichelberger
April 29 (Bloomberg) -- The University of Texas is profiting from a decision to renovate its football stadium four years ago instead of investing in securities.
As the worst recession since the Great Depression beat down the S&P 500 Index 41 percent between July 2, 2007, and July 1, 2009, and caused more than 8 million job losses, athletic departments such as Texas and Louisiana State University used their on-field success to drive increases in operating revenue.
Among the largest schools -- the nine with at least $90 million in operating revenue -- the biggest winners were Texas, up 32 percent to $138.5 million; LSU, up 32 percent to $100.9 million; and Texas A&M, up 33 percent to $98.1 million, according to a review of athletic department financial records.
FULL ARTICLE
http://www.bloomberg.com/apps/news?pid=2...6aw&pos=14
Stadiums Top Stocks as Colleges Bet Football Is Recession-Proof
By Curtis Eichelberger
April 29 (Bloomberg) -- The University of Texas is profiting from a decision to renovate its football stadium four years ago instead of investing in securities.
As the worst recession since the Great Depression beat down the S&P 500 Index 41 percent between July 2, 2007, and July 1, 2009, and caused more than 8 million job losses, athletic departments such as Texas and Louisiana State University used their on-field success to drive increases in operating revenue.
Among the largest schools -- the nine with at least $90 million in operating revenue -- the biggest winners were Texas, up 32 percent to $138.5 million; LSU, up 32 percent to $100.9 million; and Texas A&M, up 33 percent to $98.1 million, according to a review of athletic department financial records.
FULL ARTICLE
http://www.bloomberg.com/apps/news?pid=2...6aw&pos=14