Rising equity prices and continued strong demand for
bond funds boosted total assets of mutual funds worldwide.
With the net flow of $109 billion in new investments, total
assets now stand at $12.36 trillion, according to data from
the Investment Company Institute (ICI).
Assets of equity funds went up 18.4% during the
period to $4.7 trillion. This increase was attributed by
ICI to rising stock price indices in almost every
country, with most indexes showing double-digit gains.
Further, net cash flow to equity funds reversed an
outflow recorded in the first quarter to gain $69 billion
in the second quarter (See
Worldwide Fund Assets Steady Through
First Quarter
). The turnaround in net flow occurred primarily among
funds in Europe and the United States, with equity funds
in the Asia/Pacific region again recording an inflow in
the second quarter, although the inflow was down slightly
from that in the first quarter.
Bond funds also went up during the second quarter,
recording an 8.3% gain to an aggregate asset level of $2.9
billion.
The net flow to bond funds in the second quarter of 2003
was strong at $79 billion and compared favorably with the
$87 billion inflow in the first quarter. US and European
bond funds again received sizable new investments in the
second quarter, while bond funds in the Asia/Pacific region
posted a small outflow.
Additionally, balanced/mixed funds recorded an inflow in
the second quarter as asset of this groups rose 12.3% to $1
trillion.
Money market fund assets posted an increase of 0.6%,
with an
outflow moderated somewhat in the second quarter to $47
billion from $56 billion in the first quarter.
Once the dust had settled, 38% of all mutual funds held
globally were equity funds.
This was followed by similar allocations to money market
(26%) and bond (23%) funds, while balanced /mixed (8%) and
other (4%) rounded out the list.
By region, more than half (59%) of worldwide mutual fund
assets were in the Americas at the end of the second
quarter, compared with 32% in Europe and 9% in Africa and
Asia/Pacific.
August 22, 2002 (PLANSPONSOR.com) - Apparently
nobody remembers the 1994 debacle because it now looks like
we might actually have a baseball strike - and who knows? No
World Series? But maybe that's not such a bad
thing.
The readership – and there was a LARGE response this
week – was not overly sympathetic to the prospects of a
strike. In fact, they were downright hostile.
More than
41%
felt – and felt strongly, for the most part – that the
baseball players should get a real job. As one said,
“As I sit in my small office w/no windows and no fresh
air for at least a ten hour day, with no raise for a year
due to the economy, I have to say I feel real sorry for
those poor players, sigh — who am I
kidding? They are already living a man’s dream
to be able to play in the big leagues. I tell you
what – I’ll trade places with them and go for the salary
they were making five years ago and they can come and sit
with the computer.”
Or there was this version:
“If they strike and thus have free time, they can come
help me budget for our 28% healthcare increases, or, better
yet, whine about their pay to the employees losing jobs due
to a business “realignment!”…a reader who nonetheless
offered, “But I still love baseball…).”
But many shared the sentiment of the reader who said,
“Perhaps we should strike against baseball and let them
know that we’re tired of their whining!”
And then there was the conflicted reader who said,
“C)…get a real job….and d) I don’t give a
dam……and e)….let me be a replacement player!
A close second (roughly
33%
) said they didn’t give a – darn (some actually changed the
word choice to a more “hearty” noun). Some weren’t
baseball fans, others thought there were better places to
spend those kind of salary dollars. As one noted,
“Until our police officers and firefighters start
getting paid what these spoiled brats in baseball do then
maybe I’ll start paying attention to the game, but until
then….I just don’t give a darn!”
Teachers were also frequently cited as an underpaid
profession. Many said they were just waiting for
football season anyway.
One reader who said he gave a darn – and yet didn’t also
noted,
“…the collateral damage that a baseball strike will
have; taxpayer built stadiums that will go dark, the jobs
and business that orbit around the baseball season.
the reason not to give a darn is the out-of-touch players
that seem to think that hitting their weight is really
worth 2.3 million plus a signing bonus. There is a
certain comic value in getting to hear one of these
characters say (and with a straight face) ‘it’s not about
the money, it’s about fairness’.
It might be different if fans thought they were
getting something for their money. One reader,
apparently having just spent some money at the “old ball
game” noted,
“How many families can afford to take the kids to a
ball game? The cost of the tickets, another $10 to
park the car, and God forbid the kids want an ice cream
cone – another $3 or $4 each. (I couldn’t believe
they wanted $3 for a single dip ice cream cone. The
lady made a face at me and said, “Well it is Hagen
Daas.” My response was “Yes, but it’s not gold.”)
A resounding 21% basically faulted BOTH players and owners
for letting the entire situation get out of control.
Just 4% were still waiting for the players to make a better
case, while 2% said they already had a case.
One of our favorites was this reader’s observation,
“I could care less about baseball – it’s boring and
they are overpaid. All professional athletes need a reality
check – yes they are talented but their egos grow with
their paychecks. Sure they can win a game with one
move but lets see them give 1 year old twins a bath and not
get wet – that’s talent! I have done it once in the last 12
months! Where’s my 30 million dollars?”
(yes, but can you do it in front of 40,000 screaming
fans?)
And then there was the reader who said,
“So maybe we need to begin to treat baseball teams like
businesses and reward the most profitable teams by sending
those teams to the playoffs rather than the teams with the
most wins.”
(I thought that was how the Yankees kept showing up…)
But, for MY money, this week’s
Editor’s Choice
was the reader who was able to find a silver lining in the
potential cloud:
“I felt it necessary to create a new category to
capture my response; E) Almost feel a sense of relief- I’m
a Red Sox Fan….
Thanks to
EVERYONE
who participated in our survey! We always have some
good verbatims – but this one is a real treat. You’ll
want to check them ALL out…
Readers weigh in on the causes, impact - and solutions
for the pending major league baseball strike.
The question was: Apparently nobody
remembers the 1994 debacle - but it now looks like we
might actually have a baseball strike - and, who knows?
No World Series?
But maybe that's not such a bad thing.
This week, we'd like to know what YOU think.
"Do the baseball players (a) have a point, (b) need to
make their case better, or (c) need to get a real job?
Or do you (d) just not give a - darn.
My answer is (d) because the owners and players are just
greedy.
Baseball is no longer the national past time.
It has grown to be such a gluttonous institution that the
common man can no longer afford a ballgame for fun. My
husband recently went to a game where 3 hot dogs and 3
drinks cost $27. They paid $5 for bleacher seats in the
outfield but were hosed at the concession stand.
I hope the owners and players remember that we have better
ways to spend our money.
The owners need to open their books and some players are
paid way too much. Their needs to be more revenue sharing
og all TV, radio, logo-wear sales, etc. since baseball can
only be as strong as the sum of the teams.
Should be viewed and run as one business with multiple work
locations.
If the players are going to have a union, run it like a
union; negotiate the pay range for each position and every
team would have to pay their players within the prescribed
range for their position.
I am a (d) but I also feel a bit of (c) as well.
And to be honest, we need some (b) because I have no idea
why they are really striking.
They are all overpaid prima donnas in my opinion.
It's insulting when the rest of America, most of whom
cannot afford to take their family to more than 1
ball game a year, is struggling to make ends meet, and
these guys are upset because they might have to keep their
Jaguar a year longer than anticipated....or they won't be
able to support their Hooter's waitress girlfriends in the
style and manner to which they have become accustomed.
But to be honest, the strike won't really affect me that
much.
I generally don't go to major league baseball games, so I
will continue to not go.
This is a badly worded question.
The ballplayers may have a point (a), but they absolutely
have not made their case to their customers.
This means that (b) fits, as does (c).
Unfortunately, I do care.
The Yankees are in first place, and just coming off a down
year (any time they don't win the World Series is a down
year for the Yankees).
A strike may be the beginning of the end for big-time
sports, and that may be a good thing.
I love baseball and don't want to see a strike
especially with the Yankees 7 games up on the Red Sox.
Seriously, I do think that people will really turn off to a
terrific sport if there is a strike this year...
As someone who is a fan of baseball I'm always
frustrated by this continuous saga. I can't understand why
baseball is so different from football and basketball. Do
the players have a point - yes, but who cares? For me, they
can get a real job. They've destroyed the intrigue of the
game, at that level, for me. I've become more of a college
baseball fan.
Get a real job!
I'd like to get paid millions of dollars for "playing".
No one will be watching because we have to work too many
hours to be able to afford to take the family to America's
favorite pastime.
I think I've watched one professional baseball game in
person, and maybe
one on TV.
Frankly, my dear, I don't give a hoot.
At least the strike
will bring baseball into the realm of something I can
understand - the
business world.
I do still like hot dogs and apple pie, though.
I could care less...check that...I guess I couldn't care
less.
Let me just say I HATE the baseball players view and I
will HATE them more if they strike.
I think there is a problem if someone can not make it on
$5,000,000.00 or for that matter even 1 million....I think
they should cap the salaries at $500,000 and lower the
ticket prices so that everyone in this nation could afford
to go see America's greatest pastime.....
I don't claim to be a huge baseball fan but if they go
on strike I won't be a fan at all any more.
I also don't know all of the things they don't agree on but
I'm sure it's comes down to money and they're being greedy
and not considering the fans!!!
It's hard to care what happens - whether the millionaire
players win against the millionaire owners.
Why would it even matter if baseball just fell off the
planet?
There are so many more real problems facing us today.
I choose d,
but I think it's a shame the spirit of sport is overwhelmed
by the press of business on both sides, and the fans are
the ones hurt.
Everything I've been reading points toward greed on the
part of the players.
I'll never understand the situation.
Both sides are willing to negotiate salaries so high that
the whole industry will go bankrupt.
(d)
The owners suffer from the same disease that affects most
school boards and city governments.
They have bargained away their ability to run the
business.
The last time there was a strike - my family boycotted
baseball for two years in protest.
While I am an avid fan of baseball (I'm even a Phillies
fan) the thought of these people making MILLIONS of dollars
and still complaining about it makes me ill.
Maybe they should try a different career if this one is
so terrible.
One thing I can tell you is that if they have the gall to
strike again - it'll be another 2+ years before I watch a
game (on TV or at the stadium) or have anything else to do
with baseball.
Perhaps we should strike against baseball and let them
know that we're tired of their whining!
Both sides have a point, but at some point the madness
has to stop!
If baseball fans stop supporting the sport, the owners and
players won't have anything to argue about!
d.....just don't give a darn, there are more important
things in my life, like spending time with my family
playing baseball, not watching!!!
I think they all (both sides) need to grow up.
If they all stopped for 5 seconds maybe they would realize
how ridiculous they look arguing over salary caps for
people who already make more in a year than most of us see
in a lifetime.
I say they need to work more on public relations or they
are going to lose their fans!
Hmmm....so they can't figure out how to share billions
of dollars? Can you spell s-t-u-p-i-d?
And yes, once again they'll break my heart, but when
they ask me back, will I play hard to get this time? Stay
tuned...
Can anyone tell me why ANYONE should care if there is a
baseball strike?
A bunch of overpaid primadonnas, making an average of
$2 million per year, feel they are underpaid.
A group of poor business managers, who created the feeding
frenzy of escalating salaries, now want the salary plan to
control their stupidity because they can't.
I am in favor of a strike because:
1)
Sports writers and broadcasters would need to learn about
sports instead
of reading endless litanies of meaningless ball
scores as "sports news."
2)
Baseball fans could redirect their interest to the minor
leagues and little league
where baseball is still a game and not so much a
business.
3)
The resources devoted to "rotisserie leagues" could be
redirected to some
beneficial activity.
4)
The "national pastime" would be recognized for what it is,
a cultural
anachronism perpetuated to get stupid people to pay
exorbitant prices to
see 162 virtually meaningless games each year.
The only intelligent life in the baseball universe is
New York's Cablevision.
A combination of C and D.
Who gives a crap!
Maybe they should all try to get real jobs and survive like
the rest of the WORKING nation.
Just my thoughts. And yes, I have already had my morning
cup of coffee
🙂
The baseball players (a) have a point.
And, the strike clause is a part of their negotiated
agreement.
However, there is a third party in this particular saga,
namely the American public.
And, it appears that the vast majority of the fans view a
strike very unfavorably which could have even very negative
ramifications for professional baseball even if the players
were to strike and win their on their issues.
"D" that's I never gave a damn. The closest thing to
baseball team around Nashville is Little League. I hate
watching the game, it is way to slow. However I like
playing the game.
The players need to get a real job. I respect the
talents professional athletes have to get to their
position, but I differ on one major item. They always claim
that they are the product and without them, there is no
game, so they should be justly rewarded. I agree to a
point, but I would like to see what they would do if they
were on the other side, or even in another business. Would
they see the employees as the reason the product is
available, or would they try to maximize their own profits
by instituting pay grades, salary ranges, etc. found in
most HR departments? I am guessing they would try to
squeeze as much money as they could because they would see
their assets on the line to create the company in the first
place. Being the son of a union man it's hard to say, but
I'm with the owners on this one.
I personally do not appreciate sports.
However, I believe that it is a sad statement that we place
greater value on how well somebody throws or hits a ball
than on how well they can teach our children.
I think a strike might be a good thing.
Maybe TV writers will have to actually come up with some
good entertainment in its place.
I think a combination of c & d....I haven't figured
out exactly what they have to complain about or strike
against.
They are paid bazillions of dollars to play the game they
love and also secure additional money in
endorsements....hmm..sounds like a sweatshop to me.
But then again, I
don't follow the sport.
Since free-agency, baseball has been a yawner.
Let 'em strike.
Barry's gotten his 600 so turn out the lights, lock the
gates and quit already.
If they're really serious about changing things they should
shorten the games to four or five innings, put a time limit
on the pitcher and the batter, put padding and helmets on
the players to make it a contact sport. Who knows?
That game may just become the preferred "National
Pastime"!
d, but in my opinion it isn't just the players, the
owners are as guilty for the state of the sport as the
players. They all need to go and get a real job!
In one day, many of these players make more than most
people do in one year. Must be hard to play itchy and
scratchy. Isn't Mastercard giving away a free trip to the
2002 World Series, looks like you won't have to worry about
the line for the restroom!
Answer: A.
Baseball players do have a point in striking because
they are a strong union and like all unions when
negotiations are at hand, threats are made and sometimes
carried out. However, there was a law was passed after the
1994 strike that gave baseball players the right to settle
this matter in
court..the exam name of the law slips my mind and I'd
have to dig out my old notes to find it. I think though the
real question at hand is whether anyone cares whether they
strike and as the NYT pointed out Sunday, many fans could
care less because of the timing of the strike. Football
season is about ready to kick off - at the professional and
college level. And once engulfed in that, the NBA and NHL
will start up. Also, baseball is not as popular as it was
in 1994. The 1993 season saw the highest attendance levels
ever in baseball and because of the 1994 strike, attendance
has not reached those levels again. (I wrote a paper on
baseball attendance levels and factors of attendance during
the 1990s). If baseball does strike, the fans are not
going to be the ones that hurt the most - it will be the
producers who sell to the baseball industry - Peanuts and
Cracker Jacks anyone? Also, with the economy as dismal as
it is now, those fans who would attend a game will put
their money elsewhere. So while players do have the right
to strike, it will do more harm than good. My advice to the
greedy MLB players: watch the
Little League World Series this weekend and remember
what the game is about.
Let them strike! The market does better when they
strike!
I remember the strike; It took a while before the fans
returned. Perhaps a portion of the players'
pay should relate to attendance.
Might make them think twice about striking.
To make a choice - I think they should get a real job.
I'm tired of their whining.
Until our police officers and firefighters start getting
paid what these spoiled brats in baseball do then maybe
I'll start paying attention to the game, but until
then....I just don't give a darn!
I don't give a darn if they strike and never come
back!!
The whole sports world has gotten out of hand.
The salaries are ridiculous.
They are playing a game not curing cancer!
I don't mean just baseball but all of the sports.
I'm fed up with the owners and the players.
Baseball for instance is "America's pastime"?
How many families can afford to take the kids to a ball
game?
The cost of the tickets, another $10 to park the car, and
God forbid the kids want an ice cream cone - another $3 or
$4 each.
(I couldn't believe they wanted $3 for a single dip ice
cream cone.
The lady made a face at me and said "Well it is Hagen
Daas."
My response was "Yes, but it's not gold.")
I have an idea, how about if the home team loses, they
have to pay the fans for
coming out to watch them fail at these exorbitant
costs?
How about coming out before the game and signing
baseballs or programs for free like the minor league guys
do?
Or, just talking to the kids who came to see you for
a few minutes?
The owners and the players should be ashamed of themselves
and get back to the basics.
First, its all about greed - - both sides!
Underlying premise of any resolution should permit both
sides to profit based strictly upon performance.
Utilizing a spending cap model, owner's who spend more
should expect to have a team who out-performs the others
and accordingly receives greater income from higher
attendance, post-season play and merchandising which all
add value to the general franchise.
Players should all be paid "annually" based upon the ratio
of what they take versus what they contribute.
Example: If A-Rod is 20% of the annual Texas payroll
expense, standard metrics should be in place to validate
that he contributes 20% to the measured performance of the
team.
An annual percentage adjustment cap could be employed to
avoid severe swings.
In a game where commentators continuously spew senseless
data about players and teams, we might all feel relieved
and better informed if confirmed that A-Rod is indeed worth
$200,000 per game or that next year an adjustment would be
in the making.
Then, we could all buy our $30 tickets, pay $5 to park, eat
poor quality $3 hotdogs, wash them down with $5 beer, and
continue underwriting the folly commonly regarded as
"America's favorite pastime".
If I recall the limited amount of information I have
read about the issue, the main problem is something called
revenue sharing, spelled M-O-N-E-Y.
I see enough greed at work, I don't need to watch it played
out during my leisure time.
So...d)
I'll continue to stick to what I did after the 94
strike...go watch the little kids locally, who may not be
as skilled, but most of whom do it for the fun...which also
means I save my M-O-N-E-Y.
d)don't give a darn
That said, in any industry that has a seasonal beginning
and end, with many starting out and only one champion
remaining, all salaries should be heavily incentive
laden--the latest rhetoric from players takes away from the
fact that it's team that win championships, not
players.
d) Who cares.
It's almost officially football season and I've got
pre-season football now.
If they want to make an impact, they have to strike mid
June to mid August: after basketball and hockey are over,
but before football starts.
Of course I give a darn!
September w/out baseball is like December w/out football!
Being from New York, revenue sharing is is for the teams
that can't compete for the Yankees.
Baseball is a business, when a Fortune 500 company has
great profits do they have to "share" them with the weaker
companies??
As I sit in my small office w/no windows and no fresh
air for at least a ten hour day, with no raise for a year
due to the economy, I have to say I feel real sorry for
those poor players, sigh
-- who am I kidding?
They are already living a man's dream to be able to play in
the big leagues.
I tell you what I'll trade places with them and go for the
salary they were making five years ago and they can come
and sit with the computer.
Now Let's Play Ball!!
Torn between (c) and (d)
I'll treat them just like basketball, haven't been to a
game since their strike.
As far as I am concerned:
One more strike and they are OUT!!
I would love to see all of them get a real job.
Their new "minimum" salary ($300,000.00), will put the
worst baseball player in the major leagues, in the top 1%
of wage earners in the United States.
the players have no idea what the rest of us go through.
They have totally lost touch with reality.
PLAYERS, WAKE UP!! YOU'RE GETTING PAID MILLIONS OF
DOLLARS TO PLAY A GAME!!!
: With all the other things going on in the world, this
is of the least interest to me, but then I am not a sports
fan.
With all the CEOs who have taken their companies, employees
& retirees to the cleaners in the past year it is hard
to get excited about athletes wanting more money.
Who
among us would turn down the chance to make more money
for doing our job?
I like my job and make a decent salary. I won't get rich
but the bills get paid.
If we don't like what the athletes (also actors, etc) earn
then we can express ourselves by not buying tickets.
That would level things out very quickly.
would rather watch Harlem get back in the LL world
series!
C) they need to get a real job Baseball players are paid
an average annual salary of around $2.5mm to "play" a game
that we all grew up playing for recreation, entertainment
and
just plain fun.
They make more in one year than those of us who truly
"work" 8 to 5 every day and will not make $2.5mm in our
lifetime.
They eed a dose of reality!
it is amazing to me how much these players have their
fans by the....well, you know.
Need to make their case better......from the little I
know they should be grateful to have a job and to make what
they make
(c) need to get a real job
PS -
I have tickets for September 10th to go to the venerable
Wrigley Field to watch the Chicago Cubs...and this strike
had better not ruin it!!!
e) Let them strike.
What's the difference between a strike and playing?
Yankee fans in NY/NJ can't see games on t.v. either way
thanks to the stalemate between Steinbrenner's YES network
and Cablevision.
Maybe with a strike it will force the two sides to reach a
deal, so that when the strike is over we could actually see
a game this season!
re: baseball players: C - get a real job! If they strike
and thus have free time, they can come help me budget for
our 28% healthcare increases, or, better yet, whine about
their pay to the employees losing jobs due to a business
"realignment!" (But I still love baseball...)
I enjoy baseball, but the hometeam is losing so
badly this year that it just doesn't matter!
c and d - the average - AVERAGE mind you, baseball
player earns 2.5 million a year! Have the NFL players ever
gone on strike?
I say replace baseball as the national pastime with soccer
and American football and let the crybabies of baseball
figure out to make due with what they've got in the
bank.
I have been a "die hard" fan for many years.
However, I am actually looking forward to the strike.
Perhaps a two or three year strike might pair the league
down to the owners and players who really care about the
game.
In the mean time, I may visit some minor league parks.
Baseball players only want one thing to be paid fair
market value just like every employee.
The owners should want to make a profit.
I believe there needs to more incentive for some owners not
to over compensate their players.
So maybe we need to begin to treat baseball teams like
businesses and reward the most profitable teams by sending
those teams to the playoffs rather than the teams with the
most wins.