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JockStocks: The Financial Impact of the LeBron James Decision

Last night ESPN, a subsidiary of Disney (DIS), gave Jim Gray and LeBron James an hour to sit in a Boys and Girls Club in Greenwich, Connecticut to announce that the King will be playing basketball in Miami for the next few years. Aside from being a colossal waste of time -- this announcement shifted the balance of power in the NBA straight to South Beach.

Yet again, Cleveland feels the sting of sporting failure as the city's native son packs up his bags and heads elsewhere -- leaving nothing behind but the carcass of an NBA franchise, one furious owner, and a bunch of very angry fans. It appears that Cleveland will have to watch James win a title elsewhere -- just as it had to do with the Baltimore Ravens.

Continue reading JockStocks: The Financial Impact of the LeBron James Decision

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DJIA-74.9212,454.83
NASDAQ-1.852,837.53
S&P 500-2.861,317.82

Last updated: May 28, 2012: 02:53 PM

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