The Toy Cannon

WynnJ-8x10.jpgJohn Brattain over at the Hardball Times wrote this well researched article about one of the most underappreciated Stros players of all-time, Jimmy Wynn.
Wynn — who was nicknamed “the Toy Cannon” — toiled for the Stros during the club’s difficult early years when the club was not blessed with much talent. Moreover, his career hitting numbers do not compare well with statistics of today’s sluggers because Wynn played in a different, more pitching dominated era (1963-77). Nevertheless, as Brattain points out, Wynn was one of the best centerfielders of his era:

I?ve often been amazed that Wynn never got more love from the BBWAA or the VC in Hall of Fame consideration. No, I?m not advocating him, but when I watched this little dynamo, I was always very impressed how he played the game.
When you consider that he played the bulk of his career in what were at the time the toughest hitter?s parks in the game (the Astrodome and Dodger Stadium) his 291 home runs looks very impressive. Wynn was a plus defender (albeit a rag arm which caused right fielder Joe Ferguson to cut in front of Wynn to make a catch with a runner on third during the 1974 World Series) with a terrific batting eye. He has a number of legitimate knocks against him: short career (6653 AB), no hardware save three All Star Game rings, just 26 post-season AB, no big career milestones etc.
According to Lee Sinins? sabermetric encyclopedia, Wynn was the second best (albeit a distant second) CF in the NL from 1960 to 1980 (using the “Runs Created Against Position” (“RCAA”) metric). If there was ever an “Unappreciated Player Hall-of-Fame,” I?m guessing Wynn would go in on the first ballot.

Brattain’s article points to another reason why the RCAA is particularly valuable to evaluate hitting ability across different eras. RCAA measures the two most important things in winning baseball games ? that is, creating runs and avoiding making outs — by computing the number of outs that a particular player uses in creating runs for his team. RCAA then compares that number to the amount of runs that an average player in the league would create while using an equivalent number of outs. Inasmuch as the hypothetical average player’s RCAA is always zero, a player can have either a positive RCAA — which indicates he is an above average hitter (i.e., Barry Bonds) — or a negative RCAA, which means he is performing below average (i.e., Brad Ausmus).
Thus, RCAA measures a player’s hitting ability against that of an average player each season and, as a result, a player’s lifetime RCAA reflects how well that player hit in comparison to an average player during that player’s career. Accordingly, Wynn’s RCAA reflects how well he compared to an average hitter during his era, just as the current Stros’ hitters’ RCAA reflects how they measure against the average player in today’s era. Inasmuch as Wynn was consistently in the top ten in the National League RCAA during a good part of his career — which is basically the stature of current players Bags, Bidg and Berkman during their prime seasons — the Toy Cannon remains one of the best Stros players of all-time.

Chronicle wins prestigious award for Enron coverage

H-chronicle_logo.gifKevin Whited at blogHouston.net notes that the Houston Chronicle has been awarded a prestigious business writing prize from the Society of American Business Editors and Writers in the Breaking News category for its coverage of the indictment of former Enron chairman and CEO, Ken Lay.enron_logo.jpg The award is a well-deserved honor for the Chronicle Enron-reporting team, which has been led by Chronicle reporter Mary Flood. The Chron endured some criticism from local and national press sources for its supposedly slow reaction when the Enron scandal began to unfold in late 2001. However, regardless of that criticism, the Chronicle is now clearly the leading source of information on the Enron scandal. The Chron’s special Enron online section is the best overall source of information on pending matters relating to the Enron scandal.

Is PriceWaterhouseCoopers next?

pwc_logo.gifAmerican International Group Inc.’s public admission this week that it engaged in improper accounting practices has placed AIG’s auditorPricewaterhouseCoopers LLP — squarely in the sights of government regulators and plaintiffs’ lawyers. Here are the earlier posts on the fast developing scandal that has enveloped AIG and Berkshire Hathaway over the past several weeks.
Federal and state investigators (Mr. Spitzer is seemingly everywhere these days) are currently evaluating what AIG told PWC auditors about the questionable transactions, but it is only a matter of time before investigators and class action securities plaintiffs’ lawyers will begin to question PWC regarding its failure to uncover the allegedly improper accounting. As noted in this earlier post, one of the most troubling aspects of the current AIG investigation is that many of these transactions under scrutiny may well have been reviewed and approved by various business professionals working on behalf of AIG. Already, press reports on the AIG investigation assume that the accounting for the transactions was improper, and any defense that the transactions were accounted for properly has been shoved aside in the wave of negative publicity and the AIG board’s efforts to bend over backwards for the regulators in an attempt to limit the collateral damage to AIG’s stock price.
At any rate, if the transactions were accounted for improperly and were material, generally accepted accounting principles require that AIG restate its financial reports for several past years. If the violations are not deemed material, then AIG could correct its financials by taking a one-time adjustment to its fourth-quarter results for 2004. The question of whether an accounting violation is material is determined by whether the financial result of the violation would have influenced the opinion of a hypothetical reasonable investor. AIG has already stated that correcting the known violations would reduce its $83 billion net worth by only 2%.
So, as we wait for the other shoe to drop on PWC, let’s hope that governmental regulators take note of this point.