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SHARING IN THE INDIANS' GRIEF; STOCK FALLS AFTER LOSS TO SOX

          Shares of the Cleveland Indians Baseball Co. "fell"
     4.9% after Monday's loss to the Red Sox in Game Five of the
     ALDS, according to Kevin Shinkle of BLOOMBERG NEWS, who
     reports the stock dropped 7/8 to close at 17 in trading of
     61,000 shares yesterday.  The day's transactions dropped the
     Indians' market value to $240M (BLOOMBERG NEWS, 10/13). 
     BRIDGE NEWS' Jennifer Allen wrote that the Indians have
     "traded in a range of roughly" 17 to 19 1/2 since Owner
     Richard Jacobs announced that the team was for sale in May. 
     Smith College Economics Professor Andrew Zimbalist said that
     by not reaching the World Series, the Indians "forego"
     revenue of between $5-7M: "The value of the stock market is
     fickle.  The long-run value of the team shouldn't be
     affected by the loss" (BRIDGE NEWS, 10/12).  CNBC's Ron
     Insana reported that the Indians "stock has been stagnant
     since last May, when it jumped sixty-four percent" after
     Jacobs put the club up for sale ("The Edge," 10/12).  In
     N.Y., Richard Wilner reports that it is "unclear" how the
     playoff loss and stock drop will affect "efforts to sell the
     club." Indians minority Owner Martin Gruss: "The start of
     the sales process a month earlier than expected could be
     good" (N.Y. POST, 10/13).

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