Wednesday, November 23, 2011

Maybe Sponsoring an NBA Arena is NOT a Smart Business Decision

I didn't get my wish from earlier this year that the NFL season would be cancelled by the dispute between the billionaire owners and the millionaire players. But I still have hope for the NBA, which seems to be firmly determined to commit collective suicide over its selfish inability to divide up the billions of dollars it normally vacuums from the pockets of its idiotic fans every year. With that as a backdrop, I found this recent story to be of interest:
Power Balance has filed for bankruptcy protection, and officials with the Sacramento Kings -- the team that plays at the company's namesake arena -- have responded.

"We maintain close communications with Power Balance and are aware of their decision to file for voluntary protection available to them through the courts," the organization said in an electronic statement.
Guess I'm not a hip dude, because before reading this I had no idea what Power Balance was or what the company produced. Fortunately, the article enlightened me:
Power Balance is a wristband company based in Southern California.
Damn...seems like you'd have to sell an awful lot of wristbands to be able to afford the many millions it takes to get your company name plastered on a stadium. So how'd they get in financial trouble, anyway?
TMZ reports Power Balance filed last week, and just settled a $57 million lawsuit from someone claiming a product is misleading.
So how the hell can a wristband be "misleading," especially to the tune of $57 freaking million? Are those solid gold and platinum wristbands they are selling?

Anyway, the article ends on a positive note:
So far, there's still no NBA season for 2011-12.
I'll drink to that.


  1. If there are disruptions to the titular "Bread and games" maybe the idiotic american populace will finally start to wake up.

  2. So how the hell can a wristband be "misleading,"

    From the wikipedia article on "power balance:"

    "Power Balance is a brand of hologram bracelet claimed by its manufacturers and vendors to "use holographic technology" to affect the wearer's "natural energy field". Numerous independent studies of the device have found that it is completely ineffective at improving athletic performance."

    Perhaps only in America is the public rich and gullible enough to believe in and spend good money on such utter nonsense.

  3. @CW - thanks for the info. Gads, just when you think our culture couldn't get any dumber.

  4. It is simply amazing to me that a co. selling these snake oil wrist bands could actually make enough money to pay for naming rights. I think the Downward Spiral may have gotten a little tighter and our acceleration a little faster.