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Have present-day politicians forgotten their history?
Interestingly, the deal Machado reached with the Padres was the precise contract offer the Nationals made to Harper in November (although deferrals could have reduced its present-day value), which Boras rejected and the Nationals later withdrew.
To see what present-day value my cards might have, I called up Kristopher Bucher, who runs a YouTube channel dedicated to the trading card game.
The contract, which in present-day value is worth just under $10 million a year, has an option year for 2009 at a $16.5 million salary, or a $4 million buyout.
Third, the Yankees have hired several investment bankers, among them Morgan Stanley, to come up with a present-day value for those rights, a figure exceeding $1 billion.
Ramirez could have avoided many of the problems he encountered by remaining with the Indians, whose contract offer sported a higher number -- $171 million -- but a lower present-day value because of the amount of deferred money in the deal.
But with $57.5 million deferred without interest, the present-day value is reduced to about 75percentt of the total.
When Giacometti made this sculpture, he didn't create a hundred million dollars in present-day value; he created six hundred million dollars.
The offer included a significant amount of deferred money that reduced its present-day value to $14 million to $15 million a year from $17 million.
Ramirez said no to a seven-year deal averaging between $14 million and $15 million a year in present-day value.
And yet Chapter 11 destroys the value of that call option by collapsing all future possibilities to present-day value.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com