Harry McKee @HarryMcKee - Twitter Profile

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Harry McKee @HarryMcKee

about 5 years ago

Mad props to #UIowa for #ACDC #BackInBlack as the song for the academic deans entrance song!

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HarryMcKee retweeted

The Husky

@Mr_Husky1

2 months ago

Every July 1st, the New York Mets write a check to Bobby Bonilla for $1,193,248.20 — even though he hasn’t played a single game of Major League Baseball in over 23 years. He’ll continue receiving these payments until he turns 72. This unusual arrangement is the result of one of the most infamous financial blunders in sports history. Back in 2000, Bonilla’s second stint with the Mets was coming to an unpleasant end. He wasn’t performing well, tensions were high, and both sides were ready to move on. The only issue was that the team still owed him $5.9 million. Instead of paying the money upfront, Bonilla’s agent — Dennis Gilbert, who also had deep expertise in insurance and annuities — suggested a creative alternative. He proposed deferring the entire amount for 11 years, letting it grow with 8% annual interest, and then spreading the payments out over 25 equal installments beginning in 2011. The result? That original $5.9 million would eventually total about $29.8 million paid out over those 25 years. At first glance, it seemed like a terrible deal for the Mets. Why would any team agree to pay nearly five times the original amount? The answer lies in the Mets’ ownership at the time. Owner Fred Wilpon was heavily invested with a financial advisor who was delivering impressive double-digit returns year after year. The Mets believed they could easily earn more than the 8% they’d be paying Bonilla, pocketing the difference as profit. It looked like a smart arbitrage opportunity. That financial advisor was Bernie Madoff. For a while, the strategy appeared to be working perfectly. Then came the 2008 financial crisis, when Madoff’s massive $65 billion Ponzi scheme imploded one of the largest frauds in history. The Wilpon family suffered devastating losses, and what was supposed to be a clever financial maneuver turned into baseball’s most expensive joke. Bobby Bonilla, however, simply kept collecting his checks. What many people overlook is that Bonilla didn’t foresee Madoff’s collapse or the Mets’ investment disaster. He simply secured something far more valuable than most athletes chase: guaranteed, predictable income. His payments were completely insulated from stock market crashes, bad investments, or economic downturns. While countless retirement accounts and portfolios were wiped out in 2008, Bonilla’s deal remained rock-solid and untouched. Interestingly, this isn’t even his only deferred contract. The Baltimore Orioles have been paying him $500,000 annually since 2004, with payments continuing through 2028 — despite Bonilla only playing two seasons for them in the mid-1990s. Thanks to these two deals, July 1 has become known in baseball circles as “Bobby Bonilla Day.” Mets fans treat it with a mix of frustration and humor, and even current owner Steve Cohen has jokingly embraced the tradition, once suggesting they celebrate it at the ballpark with a giant novelty check. Beyond the memes and punchlines, the story carries a powerful lesson. Bonilla didn’t try to outsmart the markets or time the economy. He simply hired a knowledgeable agent who negotiated a deal that prioritized certainty over potential upside. In a world full of market volatility, economic shocks, and disappearing fortunes, he chose the security of locked-in payments that arrive like clockwork — no matter what happens in the stock market or on the field. The Mets still have more than a decade of payments left. Bobby Bonilla may be remembered as one of baseball’s biggest punchlines, but he’s also one of its smartest long-term planners proving that sometimes the wisest move isn’t chasing the biggest return, but simply securing what’s guaranteed. 💰

Mr_Husky1's tweet photo. Every July 1st, the New York Mets write a check to Bobby Bonilla for $1,193,248.20 — even though he hasn’t played a single game of Major League Baseball in over 23 years. He’ll continue receiving these payments until he turns 72. This unusual arrangement is the result of one of the most infamous financial blunders in sports history.

Back in 2000, Bonilla’s second stint with the Mets was coming to an unpleasant end. He wasn’t performing well, tensions were high, and both sides were ready to move on. The only issue was that the team still owed him $5.9 million.

Instead of paying the money upfront, Bonilla’s agent — Dennis Gilbert, who also had deep expertise in insurance and annuities — suggested a creative alternative. He proposed deferring the entire amount for 11 years, letting it grow with 8% annual interest, and then spreading the payments out over 25 equal installments beginning in 2011.

The result? That original $5.9 million would eventually total about $29.8 million paid out over those 25 years.

At first glance, it seemed like a terrible deal for the Mets. Why would any team agree to pay nearly five times the original amount?

The answer lies in the Mets’ ownership at the time. Owner Fred Wilpon was heavily invested with a financial advisor who was delivering impressive double-digit returns year after year. The Mets believed they could easily earn more than the 8% they’d be paying Bonilla, pocketing the difference as profit. It looked like a smart arbitrage opportunity.

That financial advisor was Bernie Madoff.

For a while, the strategy appeared to be working perfectly. Then came the 2008 financial crisis, when Madoff’s massive $65 billion Ponzi scheme imploded one of the largest frauds in history. The Wilpon family suffered devastating losses, and what was supposed to be a clever financial maneuver turned into baseball’s most expensive joke.

Bobby Bonilla, however, simply kept collecting his checks.

What many people overlook is that Bonilla didn’t foresee Madoff’s collapse or the Mets’ investment disaster. He simply secured something far more valuable than most athletes chase: guaranteed, predictable income.

His payments were completely insulated from stock market crashes, bad investments, or economic downturns. While countless retirement accounts and portfolios were wiped out in 2008, Bonilla’s deal remained rock-solid and untouched.

Interestingly, this isn’t even his only deferred contract. The Baltimore Orioles have been paying him $500,000 annually since 2004, with payments continuing through 2028 — despite Bonilla only playing two seasons for them in the mid-1990s.

Thanks to these two deals, July 1 has become known in baseball circles as “Bobby Bonilla Day.” Mets fans treat it with a mix of frustration and humor, and even current owner Steve Cohen has jokingly embraced the tradition, once suggesting they celebrate it at the ballpark with a giant novelty check.

Beyond the memes and punchlines, the story carries a powerful lesson. Bonilla didn’t try to outsmart the markets or time the economy. He simply hired a knowledgeable agent who negotiated a deal that prioritized certainty over potential upside.

In a world full of market volatility, economic shocks, and disappearing fortunes, he chose the security of locked-in payments that arrive like clockwork — no matter what happens in the stock market or on the field.

The Mets still have more than a decade of payments left.

Bobby Bonilla may be remembered as one of baseball’s biggest punchlines, but he’s also one of its smartest long-term planners proving that sometimes the wisest move isn’t chasing the biggest return, but simply securing what’s guaranteed. 💰

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HarryMcKee retweeted

Gain of Fauci

@DschlopesIsBack

2 months ago

Never forget the pilots of Asiana Flight 214 -Captain Sum Ting Wong -Wi Tu Lo -Ho Lee Fuk -Bang Ding Ow

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HarryMcKee retweeted

Guitar Gods Unleashed

@gguworld

3 months ago

"Ramble On" is 56 years old and Robert Plant just walked onto The Late Show and made it sound like he wrote it this morning.

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Who to follow

weed & wagyu

@jessethechef

•Japanese wagyu dealer •LA based Private Chef •Booking inquires email: [email protected] NO DMs • I ONLY SHIP WAGYU Owner of @weedandwagyu

Geoff Ziezulewicz

@JournoGeoffZ

Editor, @Axios. geoff(@)https://t.co/SNtZBBj7k8 | Big into FOIA, investigations and accountability | DM for Signal# | Formerly @MilitaryTimes @ChicagoTribune

Rebellious Val

@RebelliousVal

@RebelliousMag Social Media Director #Lucky13Campaign - https://t.co/u4pMLAz12P Register at https://t.co/QOOnfBYf30 #RebelliousWomenUnite! #ERANow #VRANow

HarryMcKee retweeted

Slats Grobnik

@MissinRoyko

3 months ago

While you sit having a drink with your pretend campus friends for a “photo op” J B, two girls who were in their early twenties would have loved to be doing the same this weekend with their real friends, but they can’t. You may remember their names, although you’ve never mentioned them publicly, Katie Abraham and Chloe Polzin. You see these two ladies were killed by an ILLEGAL ALIEN drunk driver who at a speed of 80 miles per hour slammed into their car sitting at a traffic light. An ILLEGAL ALIEN who through your Sanctuary State policies you invited to Illinois for the sole purpose of building a voter base to support your political agenda. Then you protected him from ICE detainment while providing him with more benefits than our Illinois service veterans receive. Yep there will be one empty spot at two tables this weekend J B all because of you and your fellow Democrats self serving Sanctuary State Policies. Citizens safety be damned. Cheers J B

MissinRoyko's tweet photo. While you sit having a drink with your pretend campus friends for a “photo op” J B, two girls who were in their early twenties would have loved to be doing the same this weekend with their real friends, but they can’t.

You may remember their names, although you’ve never mentioned them publicly, Katie Abraham and Chloe Polzin.

You see these two ladies were killed by an ILLEGAL ALIEN drunk driver who at a speed of 80 miles per hour slammed into their car sitting at a traffic light.

An ILLEGAL ALIEN who through your Sanctuary State policies you invited to Illinois for the sole purpose of building a voter base to support your political agenda.

Then you protected him from ICE detainment while providing him with more benefits than our Illinois service veterans receive.

Yep there will be one empty spot at two tables this weekend
J B all because of you and your fellow Democrats self serving Sanctuary State Policies. Citizens safety be damned.

Cheers J B

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Harry McKee @HarryMcKee

3 months ago

The #farmboni machines are working hard at @rodeohouston

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HarryMcKee retweeted

Dos Leprechauns

@dosleprechauns

5 months ago · Mishawaka

-We are keeping Coach Lou Holtz in our prayers and honoring the legacy he built at Notre Dame. We’re giving away a Lou Holtz item. No follows required. Like, repost, or reply to enter. ☘️ #PrayingForLou 🙏

dosleprechauns's tweet photo. -We are keeping Coach Lou Holtz in our prayers and honoring the legacy he built at Notre Dame.

We’re giving away a Lou Holtz item.

No follows required. Like, repost, or reply to enter. ☘️

#PrayingForLou 🙏 https://t.co/Um4KzCP8QA

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Harry McKee @HarryMcKee

5 months ago

@ScottHughesCBB Is Coach under 21? Fire the Board. Bring back Clark’s and Bogart’s too! And hockey while we’re at it!

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Harry McKee @HarryMcKee

5 months ago

Congrats to this legendary Individual, husband, father, friend and Professor #TonyMcCormick on his HOF induction! Well done and well deserved! Tony L and Dobber would be proud! @fenwickfriars #FriarUp