How much can you make a year managing a sports team? A lot–if you’re in the right sport, and in the right country. If you can guide the Brazilian soccer team to yet another World Cup victory, or bring an NBA title to every team you touch, you will be rewarded. Handsomely.

Here are the 25 highest-paid sports coaches on the globe. See what it takes to make those millions:

25. John Calipari
Salary: $4.2 million

Image: Sean Davis/Flickr

After sixteen years of NCAA coaching, this hot University of Massachusetts college basketball coach got his big shot with the NBA. Alas, it was for the New Jersey Nets. When the University of Memphis came calling four years later, Calipari moved there. Compared to Jersey, the blue grass smells just fine, thank you very much.

24. Charlie Weiss
Salary: $4.2 million

Image: Wikimedia Commons

Weiss, a 15-year NFL veteran, went “back to school” to coach Notre Dame’s team. Weiss’ mother reportedly told this good Catholic boy that if he could ever work for Notre Dame, he should do so. For free. Luckily, the school and alumni were nice enough to give him a little bit of money for food, bills and such.

23. Joe Torre
Salary: $4.3 million

Image: Laphoto/Flickr

This 9-time MLB All-Star player won the World Series in his first year as the Yankees’ head coach. The stellar manager topped it off with three more World Series wins before coming out to bask in the Los Angeles sunshine.

22. Pete Carroll
Salary: $4.4 million

Image: Wikimedia Commons

Thinking about going back to college? It worked for Pete Carroll. After enjoying 15 years of moderate success as an NFL coach, he went back to USC. He turned USC’s program into a powerhouse again, snagging two BCS bowl National Championships within 4 years. He also gets to live in sunny California.

21. Nick Saban
Salary: $4.72 million

Image: Wikimedia Commons

What are you going to be doing in 2017? Nick Saban knows what he will be doing: Coaching the Alabama Crimson Tide. A long-term deal with a legendary college football program has a way of throwing the spotlight on you. But, jeez, Nick. Watch the tan. It’s inching toward George Hamilton territory.

20. Jim Mora
Salary: $5 million

Image: Keith Allison/Flickr

The Atlanta Falcons were a fun team to coach. That Michael Vick has some future, eh? But Atlanta just doesn’t have enough rain and coffee. What to do?

Jim Mora solved that problem by taking an assistant coach job with the Seattle Seahawks, owned by that other Microsoft guy. He waited for Mike Holmgren (previously the highest paid NFL coach) to retire.

Bam. 5 million. Not bad.

19. Bill Bellichick
Salary: $5 million

Image: Wikimedia Commons

Sure, he has three Super Bowl Rings, four conference titles and six division crowns. But Bill Bellichick is known more for his cut-off hoodies. You could call him a football genius, impresario, sloppy Bill, or cheater. Just know that the Mastermind doesn’t really care what he looks like. Or what you think. That’s Tom Brady’s job.

18. Tom Coughlin
Salary: $5.25 million

Image: Tom O’Neill/Flickr

Coughlin kind of looks like your neighbor who screams at you to “get off his lawn!” Known for his old-school style and colorful language, the New York Giants coach secured his dream QB in Eli Manning. He then guided the team to a Super Bowl championship after 12 seasons in the NFL.

Well done, sir. And nice black socks!

17. Glenn ‘Doc’ Rivers
Salary: $5.5 million

Image: Wikimedia Commons

With the addition of Kevin Garnett and Ray Allen to the Boston Celtics, Doc Rivers has made some people forget just how bad of coach he was in Orlando (he won under 50% in more than 8 years). During the past two seasons, he had the Celtics and their faithful believing in the playoffs once again.

16. Lovie Smith
Salary: $5.5 million

Image: Wikimedia Commons

He took the Bears to the Super Bowl in 2006, twenty years after Ditka did it with the Fridge. Beset by injuries and QB changes, the soul of Chicago football still reflects Lovie’s smooth style and tireless work ethic.

15. Jeff Fisher
Salary: $5.5 million

Image: Wikimedia Commons

One of the most beloved members of the NFL football family, Jeff Fisher was known as a hard working, loyal player. Those traits solidified his Tennessee Titans coach position for the past 15 years–the longest tenure of any current head coach. It turns out that they pay well for loyalty and stability, too.

14. Larry Brown
Salary: $6 million

Image: Ballerblogger/Flickr

Take heed, D’Antoni. New York put so much pressure on the Knicks owners to fire Larry Brown that they paid him $18 million to kindly take his ball and leave. His bags of cash and legend remained firmly intact when he moved down to Charlotte, N.C to coach the Bobcats. Besides, $6 million goes a lot further down South.

13. Don Nelson
Salary: $6 million

Image: BettorsEdge

Earlier in his career, Nelson was a five-time NBA champion. He’s the second-winningest coach in the history of the NBA (1,309). He was named NBA Coach of the Year three times.

Despite all those accolades, he has the worst job in the NBA. It has been said that the team he coaches, the Golden State Warriors, couldn’t beat a Catholic girls basketball team.

Ouch. Maybe that is why Don Nelson lives in Hawaii during the off-season.

12. Mike D’Antoni
Salary: $6 million

Image: Wikimedia Commons

Mike D’Antoni turned the Phoenix Suns around. Then, it all fell apart. After that, the storied Chicago Bulls came calling with a bit more money. But who can say no to coaching in the world’s media capital? After struggling for an identity, the New York Knickerbockers landed their elusive coach. Now the Big Apple has a new punching bag.

11. Arsene Wenger
Salary: $7 million

Image: Shields_t/Flickr

The French manager’s patented approach of crafting young players into superstars keeps Arsenal on top. Wenger turned down a pile of money from Real Madrid in the summer of 2009, endearing him to fans for years to come.

Continue to the top 10 Highest Paid Sports Coaches in the World ->

CNN announced today that John King will be replacing Lou Dobbs on CNN. Dobbs unexpectedly resigned from CNN yesterday after roughly 30 years with the network. State of the Union anchor John King will replace Dobbs early next year. The New York Times has the scoop:

In moving Mr. King to a weekday time slot, CNN will seek to improve its dismal evening ratings. According to Nielsen, CNN ranked third among cable news channels in the 7 p.m. hour in October, mirroring its other prime-time declines.

“John doing that show is obviously a statement about the importance of real nonpartisan news to CNN, and also the importance of political coverage to CNN,” Jonathan Klein, the president of CNN/U.S., told employees on a conference call Thursday morning.

In a clear contrast to the outspoken Mr. Dobbs, Mr. King, a former Associated Press writer, is known for his straightforward style. CNN called the forthcoming 7 p.m. program “a definitive political hour that goes well beyond the surface of the day’s top stories to provide in-depth analysis and context to key political movements in Washington and across the nation.” CNN’s chief competitors at that hour are Fox News Channel’s Shepard Smith, a news anchor, and a political commentator, Chris Matthews, on MSNBC.

Dobbs, meanwhile, will stay in the public eye. He’s not sure what shape this will take, but he did mention in his farewell speech that he will “continue to do so in the most honest and direct language possible.”

This Saturday, you can help avenge some of Bernie Madoff’s victims by purchasing his personal stuff at a government auction. The auction, which will take place in New York, will sell roughly 200 items for an estimated minimum value of $500,000. Proceeds will go towards repaying Madoff victims. The Wall Street Journal has the details:

The government has been trying to sell Mr. Madoff’s homes and now will auction some personal effects. Proceeds from the sale of the roughly 200 items will go toward compensating victims.

On Saturday prospective buyers can bid live at the New York Sheraton Hotel & Towers, or bid online if they register at the auction house’s Web site by Thursday afternoon.

The article lists some of the Madoff items for sale, along with their estimated values:

A blue satin Mets baseball-team jacket with “Madoff” stitched on the back in orange: Up to $720.

Three Boogie boards with “Madoff” written on them in black marker: $80

White his-and-hers stationery with the names Bernard Madoff and Ruth Madoff printed on it, along with envelopes: $90+

1960 Hofstra University ring that belonged to Mr. Madoff, engraved with his initials: $300

18-karat yellow gold, black-faced vintage men’s Rolex, the Monoblocco: Up to $87,500

A pair of Victorian-era diamond earrings: Up to $21,400.

3 wooden duck decoys: Up to $80

More items:
5 designer fur coats
Christofle flatwear
Tiffany placecard holders
3 polo shirts monogrammed with the names of one of Madoff’s yachts (”Bull”)

The auction promises some unique buys. Where else could you buy three used boogie boards for $80?

10. John Thain

So called ‘most hated man on Wall Street’, Thain directed the sale of Merrill Lynch to Bank of America at a 70% premium and was destined to become president of global banking, securities, and wealth management before he was forced out. Having already received tens of millions of dollars in compensation, Thain had the cheek to suggest he receive a further $10m bonus for ‘saving’ Merrill Lynch. And only weeks later it emerged he had spent $1.2m in corporate funds on renovating two conference rooms – including $131,000 on rugs, a $68,000 antique credenza, $87,000 worth of chairs, a $35,000 commode and $1,400 on a garbage bin. Thain subsequently apologized for his lapse in judgment, and reimbursed the company in full. How gracious.

Business Pundit Genius Rating: $$$$

Business Pundit Villain Rating: $$$$

9. David Einhorn

Einhorn rose to prominence as head of Greenlight Capital, a hedge fund trading in corporate debt offerings, before being accused of market manipulation in 2002. Realising the dire state of Lehman’s balance sheet he started shorting their stock in 2007 when shares were around $40, prompting a temporary ban on naked short-selling. Analysts estimate he made upwards of a 90% return on investment – and, not content with his massive payday, he even found time to force out Lehman’s CFO, Erin Callan, by going public with an embarrassing phone conversation between his analysts and her. In all fairness, she would have lost her job anyway.

Business Pundit Genius Rating: $$$$

Business Pundit Villain Rating: $$$$

8. Sir Fred ‘The Shred’ Goodwin

The former Royal Bank of Scotland chief came in for severe criticism in the UK for presiding over the loss of nearly $40 billion and leaving RBS 70% owned by the government – the biggest loss in British corporate history. Goodwin pre-empted rumors he would be fired by tendering his resignation, allowing himself to draw a pension of over $1m a year – nearly twice what he would have been awarded if he had been dismissed. Following prolonged media outcry and a campaign that included the vandalizing of his house, Goodwin’s pension was reduced to just over $550,000 and he was allowed to withdraw a lump sum tax-free of several million. For many, in the UK at least, he typifies the way fat cat bankers have profited from their own mess.

Business Pundit Genius Rating: $$$$

Business Pundit Villain Rating: $$$$

7. Bill Ackman

The head of Pershing Capital cashed in on the global downturn by acquiring positions in Wendy’s International, McDonald’s and Ceridian, and pressuring these companies to improve profits by selling their real estate assets or corporate divisions. The resulting asset liquidation forced the share prices of these companies up, whereby Pershing sold their positions off for a profit. Nice work if you can get it.

Business Pundit Genius Rating: $$$$

Business Pundit Villain Rating: $$$$

6. Warren Buffett

Billionaire investor Buffett, who warned of the impending recession, struck gold again after buying up shares in Goldman Sachs at the height of the credit crunch. With Goldman now booming again (and announcing record bonus payouts this year) the man they call the ‘Sage of Omaha’ is set to make a tasty $2 billion, with the further right to buy more shares over the coming years. And as if that wasn’t enough, Buffett sold a $220m stake in credit ratings agency Moody’s at double the price he paid in 2000, making him one of the global recession’s great winners. Overall considered one of the good guys, despite his stupendous wealth.

Business Pundit Genius Rating: $$$$

Business Pundit Villain Rating: $$$$

5. Emilio Botin

Dogged by scandal throughout his career, the head of Spanish banking giant, Santander, has built a reputation as a wily dealmaker during the credit crunch due to a string of daring takeovers. Alliance & Leicester, Bradford & Bingley and others have all fallen prey to Botin, allowing him to make Santander into Europe’s second largest banking force. And all this profit has remained intact throughout the recession, as Santander escaped relatively unscathed due to their lack of investment assets. If he can go easy on the fraud, Emilio and Santander will be even bigger in the future.

Business Pundit Genius Rating: $$$$

Business Pundit Villain Rating: $$$$ (just check out that pose if you don’t believe us)

4. Andrew Lahde

Outspoken Lahde’s California based hedge fund, Lahde Capital, made millions betting against sub-prime mortgage assets, earning infamy for achieving eye-watering return rates of nearly 1000%. In 2008 he quit finance thanking ‘stupid’ traders and ‘idiots’ for making him rich and publishing a bizarre letter urging the government to recognize the benefits of growing medical dope and telling bankers everywhere to bin their blackberries and go on holiday. His crazy letter has become an internet sensation, attracting support from hemp-legalization organizations and fuelling trade in Lahde fan-merchandise. Whatever next…

Business Pundit Genius Rating: $$$$

Business Pundit Villain Rating: $$$$

3. Jamie Dimon

As current CEO of JPMorgan Chase, Dimon presides over what has become America’s largest savings business as a direct result of the credit crunch – acquiring Bear Stearns and Washington Mutual during the downturn. Dimon himself is on course for a bumper bonus this Christmas, again, along with the rest of the JPMorgan employees, after the bank announced it had set aside $7.3 billion for staff payments in the third quarter this year. Looks set to make much, much more in the future.

Business Pundit Genius Rating: $$$$

Business Pundit Villain Rating: $$$$

2. George Soros

The billionaire financier, philanthropist and democrat backer infamously ‘broke the Bank of England’ in 1992 by short selling the pound, netting over $1 billion on ‘Black Wednesday’. This time round he has turned his hand to a less controversial money-spinner, penning the business best-seller The New Paradigm for Financial Markets: The Credit Crisis of 2008 and What it Means. Soros was one of the few who warned of the impending crisis, telling a Singaporean audience in 2006 that the markets were at their peak, and that global economies should brace themselves for recession and a possible ‘hard landing’.

Business Pundit Genius Rating: $$$$

Business Pundit Villain Rating: $$$$ (for ‘Black Wednesday’)

1. John Paulson

Described as the ‘world’s biggest winner’ from the credit crunch, Paulson earned himself a cool $3.5 billion by short-selling the US mortgage market – or betting that the housing bubble was about to burst. By September 2008 he had bet against four of the five biggest British banks, eventually posting a profit of over $450m – and this budding profiteer stands to make even more, having acquired millions of dollars worth of shares in Goldman Sachs and Regions Financial during the downturn. In an attempt to deflect accusations of ‘profiting from the misery of others’ Paulson donated $15m to a charity aiding those fighting foreclosure – a hollow gesture if ever there was one.

Business Pundit Genius Rating: $$$$

Business Pundit Villain Rating: $$$$

And one who didn’t profit from the crunch:

Bernie Madoff

The former chairman of the NASDAQ exchange admitted earlier this year to being the operator of a giant Ponzi scheme – a fraud subsequently called the ‘largest investment fraud in Wall Street history’. Although doubts were raised about his scheme as early as 1999, had it not been for the credit crunch, Madoff may well have gone detected much longer. The recession dried up his sources of liquidity and when investors sought to pull out some $7 billion from the fund, he was forced into giving himself away. As one commentator warned at the time: ‘don’t be surprised if other scams get flushed out in the coming weeks and months as the crisis deepens’.

Business Pundit Genius Rating: $$$$

Business Pundit Villain Rating: $$$$

Sources: 1, 2, 3

Images courtesy of: wikimedia, takomabibelot, Tracy O, World Economic Forum, Refracted Moments, Ethan Bloch

Arnold Schwarzenegger’s office sent this veto letter to San Francisco assemblyman Tom Ammiano. Read horizontally, it looks innocent enough. But when you read vertically, it says “I Fuck You.”

According to the San Francisco Chronicle,

Schwarzenegger’s press secretary, Aaron McLear, insisted Tuesday it was simply a “weird coincidence.” He sent us veto messages the governor sent out in the past with linguistic lineups such as “soap” and “poet,” which he said were also unintended.

Maybe. But the veto message came after Ammiano called the governor a liar and shouted from the audience to “kiss my gay ass” when Schwarzenegger unexpectedly showed up at a Democratic Party dinner in San Francisco on Oct. 7.

Looks like the Governator still has a few tricks up his sleeve. Impressive.

Hall of Fame basketball player and legendary coach John Wooden turns 99 today. Best known for coaching the UCLA Bruins through 27 winning seasons, Wooden mastered the tenets of leading successfully. Below are 12 John Wooden quotes that will inspire leadership success, regardless of field:

1. Never mistake activity for achievement.

2. A coach is someone who can give correction without causing resentment.

3. Ability is a poor man’s wealth.

4. Adversity is the state in which man mostly easily becomes acquainted with himself, being especially free of admirers then.

5. Do not let what you cannot do interfere with what you can do.

6. I’d rather have a lot of talent and a little experience than a lot of experience and a little talent.

7. Failure is not fatal, but failure to change might be.

8. It’s not so important who starts the game but who finishes it.

9. It isn’t what you do, but how you do it.

10. It’s what you learn after you know it all that counts.

11. Success comes from knowing that you did your best to become the best that you are capable of becoming.

12. Things turn out best for the people who make the best of the way things turn out.

(Source: BrainyQuote)

The Harvard Business Review has a valuable article on managing pessimists in your team. Among the tips:

1. Create awareness. This is best done by pulling the team member aside and explaining how his comments are received. The rule when giving this type of feedback, says Jon Katzenbach, author of Wisdom of Teams and founder of the Katzenbach Center at Booz & Co., is to “be at least as positive as you are negative.” Explain why the person is valued on the team and make clear the impact of his behavior. For example, you can say, “When you make negative comments, the team gets stuck and we aren’t able to move forward.” Kramer points out, “This kind of conversation can be useful from a diagnostic perspective.” Once you understand the underlying reason for the pessimism, you can provide additional support or information if it’s needed.

2. Reposition negative statements. Negativity can fester and eventually kill a team’s momentum and motivation. Don’t let negative comments linger. Ask for clarification or more information about what the speaker means. For example, if a team member says, “This project is never going to make it past Finance,” ask the speaker to explain why she thinks that. Better yet, you can ask for alternative solutions: “What can we do to make sure the project does make it past Finance?” You can also ask team members to use “but statements.” Ask them to follow skeptical or critical sentences with “but.” For example, your team member could say “This project is never going to make it past Finance, BUT it’s worth laying the groundwork now because next year, Finance is apt to approve more tech projects.” It’s helpful to model this type of behavior for the entire team. Offer your own constructive criticism while providing an alternative solution.

3. Involve the whole team. It can be damaging to single out a team member in front of the entire team. Peer pressure is a far more effective tactic. According to Kramer, “Sometimes social sanctions work better than leader sanctions.” Set team norms and ask everyone to observe them. Goldsmith suggests that individuals ask themselves before they speak, “Will this comment help our customers? Will this help our company? Will this help the person or team we’re talking about? Will this help the person we’re talking to?” As Goldsmith points out, “Honesty may be the best policy except when it’s destructive and unhelpful.” Once you’ve agreed on norms, ask the team to hold each other to them. This approach can be used when you’re not the team leader as well. If a fellow team member is regularly negative, you can appeal to what Kramer calls “the collective wisdom” of the team by modeling positive behavior and using peer pressure to show the pessimist a more productive way of contributing. Of course as a peer, your influence is limited and you may need to talk with the team leader if your attempts to redirect the pessimist don’t work.

Read more here.

Mr. Williamson’s work focuses on the boundaries of the firm, and the reasons for economic activity inside of firms: Why is there so much vertical integration in the marketplace? Why don’t we all just work for ourselves and sign contracts with each other instead of working together inside of a big company?

Would a third alternative be to outsource negotiations? Also, I’m not sure whether Williamson’s work covered this, but finding clients when you’re working for yourself is another time- and money-suck. The corporation helps in that instance, too.

Elinor Ostrom’s work had to do with group management of common resources. Her findings negate the dominance of socialism or privatization:

Ms. Ostrom’s work focuses on the commons, such as how pools of users manage natural resources as common property. The traditional view is that common ownership results in excessive exploitation of resources — the so-called tragedy of the commons that occurs when fishermen overfish a common pond, for example. The proposed solution is usually to make users bear the external costs of their utilization by privatizing the resource or imposing government regulations such as taxes or quotas.

Ms. Ostrom’s empirical research has shown that this explanation is “overly simplistic,” the prize committee says: There are many cases around the world in which common property is “surprisingly well-managed.” In these cases commons users “create and enforce rules that mitigate overexploitation” without having to resort to privatization and government regulation (which can both pose their own practical difficulties).

Ostrom found that some grasslands in Asia’s interior were governed better by groups than socialist or private concerns. One explanation for this could be that governments or companies don’t have an interest in the welfare of the individuals affected by the resource. Thus, they’ll cull it for their own advantage, rather than maximizing its utility–something a group might do to ensure the survival of its community or family.

I wonder whether Ostrom analyzed cases where groups compete over the same resource. I can’t see that competition leading to a particularly peaceful or efficient solution.

It’s unclear whether Limbaugh and Checketts will buy the team outright or purchase a majority or minority stake in the franchise. Georgia Frontiere’s children own a 60% stake in the team, and billionaire Stan Kroenke owns a 40% stake.

Last year, Forbes listed the Rams, which moved from Los Angeles in 1994, as worth $929 million (23rd highest in the NFL).

Eamonn Brennan thinks Limbaugh’s bid can’t bode well for the NFL:

…this is a bad thing for NFL fans whether you like Rush Limbaugh or not. Why? Because the NFL isn’t supposed to be about what some crazy right- or left-wing talk show host said today. It’s not supposed to revolve in the same 24-hour insanity cycle that governs talk radio and cable news. Limbaugh’s ownership threatens that. Our house has clean white carpets; we don’t need that mess. But somehow we don’t see Limbaugh taking his shoes off at the door.

One thing is certain: If Limbaugh does indeed buy the Rams, he’ll be the recipient of the NFL’s rather liberal — borderline, well, socialist — profit-sharing structure. Small market team that they are, the Rams might not be able to make a profit without the NFL’s tax on larger, more affluent teams. What will Rush think of that? If the sale ends up going through — and the Rams might not sell at all — you can count on finding out.

Reuters adds:

(An official) statement said Limbaugh would not discuss the bid further because of a confidentiality agreement with Goldman Sachs, which was hired by the family of former Rams owner Georgia Frontiere to review her estate.

Rush might be worth enough money to buy in as part of a group, but does he really stand a chance? What do you think?

After Nike endorsed–no, wait, didn’t endorse–Michael Vick again this year, I can’t help but wonder whether Vick has even more star power than he did before spending 23 months in prison for his participation in a dogfighting ring.

John Kelly of Minyanville has the following to say about Vick and notoriety:

The questions on everyone’s minds are: Can Michael Vick return at the same level of play after spending 18 months in jail? Will the fans forgive him for his cruelty to dogs and allow him to refurbish his tarnished image? Gareb Shamus, CEO of New York-based Wizard Entertainment, which covers the gaming industry, says the answer is yes. “If anything, it’s his notoriety, more than his athletic ability, that will contribute to a spike in his popularity,” he says. “This is a period in our history where infamy makes you famous. And desirable.”

On the other hand, there’s some positive news for Vick. A day after signing his contract with the Eagles, the video-game company EA Sports added Vick to this years edition of Madden NFL, its bestselling multi-platform video game. Even more telling, Vick’s number-seven Eagles jersey is the fourth-best selling jersey on NFLShop.com. The stats are based on sales at the site from April 1 to August 28; Vick signed with the Eagles on August 13, which means that his jersey broke the top five in sales in less than two weeks. And while Dick’s Sporting Goods, whose headquarters are in Pennsylvania, is refusing to stock the jersey, the sporting goods chain Modell’s reports that demand for the jersey is high.

There are two ways to interpret Vick’s story:

a) Vick should be permanently shunned for his involvement in dogfighting. Contributing to the deaths of animals is inexcusable.

b) Vick messed up. He declared bankruptcy and did time in prison. Now, he’s getting a second chance. Who doesn’t deserve a second chance?

Through his actions, Vick has become symbolic for his audience. He gives them a chance to express agreement, disagreement, disgust, and a range of other emotions. In that sense, Michael Vick is more than a football player–he is a trigger for value expression.

Because of that, Vick continues to draw a lot of attention. Companies like Nike and jersey sellers can capitalize on that attention, either by selling product or by making their own statement, as Nike just did. Maybe his moral value went down after the dogfighting incident, but his marketing value has gone up.

What do you think of the Vick incident? Is it affecting your perception of his sponsors or the Philadelphia Eagles?