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December 13, 2007
Trading the Mitchell Report
Sad stuff, this Mitchell Report on drug use in Major League Baseball. In giving it a quick read, however, with my stock ticker hat on, about the only company that shows up in a negative way is Quest Diagnostics (NYSE:DGX), with some indirect suggestion in the report that a few MLB players got a heads-up on supposedly random drug testing conducted, in part, by Quest. It is an allegation, however indirect, that Quest denies.
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Fox (which owned the Dodgers when a lot of their players were using) doesn't come off too well, either. Of course Fox doesn't own the Dodgers any more, but they did just close the WSJ transaction - although I can't speculate on what that means vis a vis performance enhancing substances...
I can't tell you how glad I am to know that the whole War on Terror and War on Drugs is so well in hand that the Feds have the resources to crack down on baseball players. I feel safer already.