Just announced.

http://www.freep.com/article/20100713/SPORTS12/100713011/1320/Source-George-Steinbrenner-dead-at-80

Love 'em or hate 'em - he was the Yankees!

I'm sorry to say i won't miss him

Me either, but that doesn't change the fact that his iron-fisted rule -and willingness to spend huge money- defined the Yankees' success for many years.

Win baby, win.

He owned a pro sports team and he wanted to win more than any other owner.
And continually proved it.

I gotta admire that.

Well said.

No wonder we didn't get Cliff Lee!


ddj

But tears are being shed over at the IRS. No federal estate tax will be due from his estate. There may be some at the state level. And there won't be any step up in cost basis for his estate, but capital gains taxes are far lower than estate taxes.

He may have put it to others in business throughout his storied career and he was able to really stick it to the IRS in the end.

Scary, when I had the same thought on first glance.

Gotta wonder how many other large estates will pass this year...

just take out the trash.

I bet it will be the topic of discussion in DC for a while. The current estimate of his estate is about $1.1 billion. This puts the lost revenue to the treasury at approximately $500 million. Ouch!

I still don't agree with the estate tax, but it is exposing the ineptitude of congress, again.

What are the odds that Congress tries to do a retro-active fix on the death tax later this year?

I am not sure they can go retroactive with a punitive tax. I think they can only go retroactive on an easing situation. Could be wrong on that and I wouldn't put it pass this bunch.

Thus, the "tries" part of the question.

It'd IMMEDIATELY get litigated, but I'm fairly certain that the lame duck session (esp. if the demoncraps lose control of the House and their 60 in the Senate) will push it.

He was kind of like Charley Finley from Oakland, always the arrogant SOB, but forever a colorful part of baseball.

RIP.

RIP George. A real character.

End of an era

Being a lifelong Red Sox fan one would think that I would be happy about his passing but quite the contrary. I thought he was one helluva good owner who wanted nothing more than to create a MLB dynasty, he just happened to choose the Yankees. I believe no matter what team he would have owned, they would have been champions too.

R.I.P. George

Steinbrenner - not the nicest guy in the world, but effective.

The problem is baseball allowed him (and will allow anyone else who cares to spend the money) to do so in a way that was great for that purpose, but detrimental to the game.

I dunno, I always liked him on Seinfeld....

There's going to be a lot of hangovers in Boston tomorrow.