“California could be its own country, the economy is so large.”
I snicker thinking back to someone making that argument to me a few years back…and me beliving it was reasonable. Driving home through the South Eastern sector of Los Angeles County, the landscape is littered with foreclosed homes and shops advertising out of business closeouts; not mom and pop shops, but retails giants are facing the rusty blade of a sharp economic down turn.
Local papers report on the bankrupcy of the Golden State during the first quarter of 2009 with no bail outs from the Feds or Wall Street on the horizon.
Grim financial outlook on my mind, and the minds of thousands upon thousands of Californians, I march home from work – thank God I have a job – with the departed Hector Lavoe crooning his 1970’s Salsa classic Calle Luna, Calle Sol through my vehicle’s sound system…
“Saca los bolsillos tu estas arrancao.”*
“I do not want to hear liberal intellectuals talking about all that is wrong with the World, and who cares if Manny Ramirez signs with the Dodgers for $30 million,” races through my mind. “And who cares if Manny Pacquiao is fighting De La Hoya, Marquez, or anyone else this weekend.” You know times are tough and my psyche is fighting to escape the dark regions of the mind when left-centered public radio, or the local Los Angeles sports talk is not the soundtrack to my daily commute.
California with 36,457,549 residents, 10.97 million of those being Latinos and a strong Filipino population within its confines, is one of the key markets for this weekend’s Dream Match between Oscar De La Hoya and Manny Pacquiao. All over the top comedic criticism aside, with California’s economic engine stalling, unemployment reaching 8%, and families stretching their budgets to pay the bare necessities, how successful will this weekend’s pay per view be in terms of buys without strong representation from California?
I am blessed with a decent salary, but honestly have to think hard and long about purchasing this pay per view a few weeks before Christmas. Perception is the key to much of consumer spending and with doom and gloom forcasted for my local economy, it is time to save and skimp, not splurge on $50 luxuries.
There is enough legitimate speculation of a pay per view and ticket booth bust this Saturday that one boxing insiders informed me that Golden Boy C.E.O. Richard Schaefer has expressed concerns to his inner circle of the promotion’s marquee event for the year failute to deliver the expected revenue.
Pay per view success clearly hinges on sales from my financially grizzled state. One millions pay per view buys is now a distant pipe dream for the Dream Match, without California cranking on all cylinders, 750,000 might even be a pipe dream.
California or bust might be the battle cry for Golden Boy this Saturday night.
* Puerto Rican tinged Spanish for = “Empty your pockets, your broke”
