Market Power

Musings by an academic economist on the power of markets and the power over markets.

Sunday, February 20, 2005

League and Union make Concilliatory Gestures

No, not the NHL - the NBA and its union are in negotiations over a new contract, the old one of which expires at the end of this season. According to the Houston Chronicle:

With NBA Players Association executive director Billy Hunter saying an NBA lockout would be "a catastrophe," NBA commissioner David Stern predicted a new collective bargaining agreement will be in place by the end of this season.

Just months after Hunter suggested there would be "blood on the water," he and Stern offered optimistic comments about the negotiations. Both said they expect to avoid an off-season shutdown of business when the current agreement expires July 1.

"It may be combining sort of reality with hope," Stern said, "but I think there will be a deal by the end of the season."