As a rabid hockey fan living in Kansas City, I have followed closely the plight of the NHL's Phoenix Coyotes since declaring bankruptcy earlier this year. The situation the Coyotes have been forced in to is completely shocking for a team that had a new arena, Wayne Gretzky at its helm and hazy memories of sell out crowds in a major metropolitan area. In an ironic twist, the Coyotes have gone through their namesake's vicious lifecycle; from being at a well-fed almost wolf like stature to a skin and bones scavenger that most would say couldn't make it another year in its current habitat.
Yet the similar transformation that the Phoenix area as a whole is experiencing is what is even more ominous. One of the largest metropolitan areas in the US, Phoenix has been one of the hardest hit regions over the housing bubble but the City of Glendale is unwilling to renegotiate a lease to keep one hundred jobs because the Goldwater Institute is against any city government backing of a renegotiated lease?
Yup, the unfortunate citizens of Arizona are witnessing the Coyote Economy that occurs after the cowboy capitalists get scalped and the town folk keep on going back to the same corrupt sheriff.