Jewish World Review April 1, 2003 / 28 Adar II, 5763
Sportsworld to get its own 'Enron'?
Is Healthsouth this year's version of Enron?
There seem to be some similarities
between Enron and Healthsouth. Enron CEO Ken Lay
spearheaded Houston's efforts to build a new baseball park,
a football stadium and an arena while investing heavily in the
Healthsouth allegedly has inflated its earnings by $1.4
billion dollars and has seen its stock sink to the point where
the New York Stock Exchange suspended trading of its public
stock. But Healthsouth has also invested heavily in the
sportsworld and has deals to provide medical services for pro,
college and high school teams nationally along with the
Professional Golf Association and rodeo's Professional Bull
Right now, those agreements will stay in
But just how valid are those deals? That remains to be seen,
however it would not be surprising if the pros, colleges and
high schools start scrambling to protect themselves as the
Healthsouth financial situation becomes clearer.
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JWR contributor Evan Weiner is a radio commentator on "The Business
of Sports" for Westwood One's Metro Networks. He is being presented with the United States Sports Academy's Distinguished Service Award for 2003. Comment on this column by clicking here.
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© 2003, Evan Weiner