This is not my strong suit, of course. The only thing I know is that media company Quebecor, who has eyes on an expansion team in Quebec City, stockpiled U.S. dollars when the dollar was low for a situation like this (the NHL has priced expansion fees at around half a billion). I'm sure that MLSE in Toronto, owned by Bell and Rogers, has some sort of foresight. I mean, they used to be owned by a pension plan.

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Most organizations are very keen as to currency and interest rate risks. They almost always hedge large exposures when there is a mismatch in currencies between revenues and expenses. For the NHL, they have very long term revenue streams in Canadian dollars and relatively known future expenses in dollars. Meaning you have a salary cap (in U.S. dollars as you said) and a 12 year contract in Canadian. If they didn't hedge this, then they are truly dumbest bunch of guys on earth. They would only need a partial hedge that is to the extent of the mismatch between Canadian dollar revenues and U.S. dollar expenses.

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Hawaii (fuck) You

Follow the NHL's business decisions over the years and this is not an impossible conclusion to come to.

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My buddy who expensed the hookers when he was sent up to Western Canada for a month worked for Quebecor in the printing business.

Also, when I was heavy in the harness racing business there was a huge controversy regarding the Canadian dollar. The U.S. Trotting Association which is the record keeping body for U.S. racing and Standardbred Canada, its Canadian counterpart, had a beef over how the earnings should be figured. Traditionally a dollar was treated like a dollar. But when the Canadian dollar became very weak at one point, there became a push to use exchange rates in figuring the earnings. This threw the industry into turmoil. The breeders were particularly against it. A stallion that would have previously been a million dollar earner might now be reduced to an $800,000 horse.

Beyond that, there was the issue of fairness in entering a horse. For example, let's say you had a horse who was one of the best on the grounds at a Canadian "B" track. He was competitive in the Open every Saturday. You decided to ship him down to the Meadowlands where the competition is much stiffer. The available conditions for the next Saturday in New Jersey are a non-winners of $15,000 last 5 starts and a non-winners of $22,500 last five starts. Now, your colt has earned $16,000 in his last five races. But it's $16,000 Canadian. Logically, he should be eligible for the non-winners of $15,000. But he isn't. So you have to race him against much stronger horses in the non-winners of $22,500.

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Anybody here seen my old friend Bobby?
Can you tell me where he's gone?
I thought I saw him walkin' up to The Hill
With Elon, Tulsi, and Don

Quebecor I worked my whole life in printing and they have been gobbled up by Quad and Donnelley

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I'm going to bounce from the spot for awhile but I will be back at some point to argue with you about this hoops stuff again. Playoffs have been great this season. See ya up the road.

I'm out.

Walt at his first job ...

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Power is always in the hands of the masses of men. What oppresses the masses is their own ignorance, their own short-sighted selfishness.
- Henry George

Bad...

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But nice avatar Walt

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There are only two examples of infinity: The universe and human stupidity and I'm not sure about the universe.