what does keppra look like abana low cost airfare sildalis shipping companies buy mentat ds syrup how to send money with american express buy brahmi vente-privee with american express buying buy betnovate cipro hc coupons what does tamoxifen treat generic forzest 20 robaxin dosage for opiate withdrawal buy atrovent how to accept paypal payments nimotop leg cramp medication at walmart arimidex car battery prices walmartarimidex recommended sites buy cheap pfizer himcolin gel shuddha guggulu no script meds pharmacy best price for generic etodolac 300 mail order extra super cialis active where to buy cytotec in abu dhabi myambutol dicks sporting goods coupon code 25% cystone best prices on laptops lopid oxycontin cost per pill capsule actonel 150 real mycelex-g fireworks for sale online orlistat 4 dollar medication at walmart zyprexa over the counter muscle relaxers generic cefadroxil viagra mastercard accepted cystone brillen online kaufen mevacor original chexmevacor overnightmevacor overnight delivery ordering colchicine medication extra super cialis viagra dosage optionsextra super cialis drugs online tofranil how much does plan b cost at walgreens benfotiamine conrad electronic online kaufen rizact walgreens photo coupon code tretinoin 0 025 lowest price on wii terramycin overnight french mentat rxmuscle.com myambutol dhl shippingmyambutol shortage generic ranitidine 150 mg levitra super active original penguin liponexol gold price in india today premarin discount coupons avana viagra overnight delivery como comprar zyban.com pilex sears canada online order arimidex how to contact yahoo by phone indinavir metanx generic fda approved metformin price in the philippines tadacip sending money through mail zebeta eno hammock cheapest price ordering stromectol dosing cheap etodolac for flovent canadian target pharmacy 3 day ship ranitidine hydrochloride best price for generic anafranil ocd lanoxin online no script meds delivered to you lopressor best price on ipod touch lasuna coupons through mail can you take too how much meclizine can you takecan you take too much medrol carafate hearing aids prices walmart diovan low cost vet clinic buy sarafem pay with echeck online is there generic uroxatral feldene puppies for salefeldene for sale at usa best places to buy mentation buy zofran what is paypal payments rhinocort aqua nasal spray price acticin india pharmacy online pharmacy rhinocort price at walmartrhinocort price in india diclofenac sodium tesco pamelor hearing aids prices walmart brand levitra lawsuitsbrand levitra low cost loyal drugs pill floxin eye shop online mestinon side phexin dvr's without subscription buy capoten hotels in san francisco cabuy capoten online legally como comprar ceftin dosagecomo comprar celadrin lexapro dosage increase vantin celebrex cost per pill buy clarina weight gain pills walmart buy biaxin pay mortgage with american express differin discount coupon apcalis cymbalta generic brand imitrex levemir coupons walgreens buy paxil shop with echeck online ordering zanaflex 4mg how can i get actos plus non generic dipyridamole mechanism no perscription need zanaflex fast times costco pharmacy prices cephalexin 500mg buy cephalexin buy viagra online with mastercard can you order myambutol manufacturer celexa order contacts without doctor buy cheap pfizer eulexin side how much what is casodex medication tadapox original parts can you take too much plendil drug desyrel online pharmacy tech schools clonidine hydrochloride brand name tretinoin 0 05 how to use tivo without subscriptiontrial erection packs 1 approved pharmaciestrial erection packs 1 best pricetrial erection packs 1 black markettrial erection packs 1 canada onlinetrial erection packs 1 canadian pharmacytrial erection packs 1 cheapest pricetrial erection packs 1 costtrial erection packs 1 cost at walgreenstrial erection packs 1 cost per pilltrial erection packs 1 coupon codetrial erection packs 1 couponstrial erection packs 1 coupons walgreenstrial erection packs 1 deutschland shoptrial erection packs 1 dosagetrial erection packs 1 dosage optionstrial erection packs 1 drugs onlinetrial erection packs 1 express deliverytrial erection packs 1 fast deliverytrial erection packs 1 for saletrial erection packs 1 for sale at usatrial erection packs 1 generic brandtrial erection packs 1 generic fda approvedtrial erection packs 1 india pharmacytrial erection packs 1 lawsuittrial erection packs 1 low costtrial erection packs 1 lowest pricetrial erection packs 1 mail ordertrial erection packs 1 mastercardtrial erection packs 1 medication at walmarttrial erection packs 1 mist canadatrial erection packs 1 montrealtrial erection packs 1 next day deliverytrial erection packs 1 next day delivery uktrial erection packs 1 no prescriptiontrial erection packs 1 no script medstrial erection packs 1 onlinetrial erection packs 1 online kaufentrial erection packs 1 online legallytrial erection packs 1 online mail ordertrial erection packs 1 online pharmacytrial erection packs 1 online purchasetrial erection packs 1 online visatrial erection packs 1 originaltrial erection packs 1 overnighttrial erection packs 1 overnight deliverytrial erection packs 1 over the countertrial erection packs 1 paypaltrial erection packs 1 pay with paypaltrial erection packs 1 pillstrial erection packs 1 prescriptiontrial erection packs 1 pricetrial erection packs 1 price in indiatrial erection packs 1 prices walmarttrial erection packs 1 recommended sitestrial erection packs 1 reviewtrial erection packs 1 rxtrial erection packs 1 rx onetrial erection packs 1 samplestrial erection packs 1 samples from doctortrial erection packs 1 shipped from united statestrial erection packs 1 shippingtrial erection packs 1 shortagetrial erection packs 1 store new yorktrial erection packs 1 tablet in indiatrial erection packs 1 tablets canadian pharmacytrial erection packs 1 tablets in indiatrial erection packs 1 through mailtrial erection packs 1 through pay paltrial erection packs 1 with no rxtrial erection packs 1 without a doctortrial erection packs 1 without a doctors approvaltrial erection packs 1 without a scripttrial erection packs 1 without doctortrial erection packs 1 without prescriptiontrial erection packs 1 without subscriptiontrial erection packs 2 approved pharmaciestrial erection packs 2 best pricetrial erection packs 2 black markettrial erection packs 2 canada onlinetrial erection packs 2 canadian pharmacytrial erection packs 2 cheapest pricetrial erection packs 2 costtrial erection packs 2 cost at walgreenstrial erection packs 2 cost per pilltrial erection packs 2 coupon codetrial erection packs 2 couponstrial erection packs 2 coupons walgreenstrial erection packs 2 deutschland shoptrial erection packs 2 dosagetrial erection packs 2 dosage optionstrial erection packs 2 drugs onlinetrial erection packs 2 express deliverytrial erection packs 2 fast deliverytrial erection packs 2 for saletrial erection packs 2 for sale at usatrial erection packs 2 generic brandtrial erection packs 2 generic fda approvedtrial erection packs 2 india pharmacytrial erection packs 2 lawsuittrial erection packs 2 low costtrial erection packs 2 lowest pricetrial erection packs 2 mail ordertrial erection packs 2 mastercardtrial erection packs 2 medication at walmarttrial erection packs 2 mist canadatrial erection packs 2 montrealtrial erection packs 2 next day deliverytrial erection packs 2 next day delivery uktrial erection packs 2 no prescriptiontrial erection packs 2 no script medstrial erection packs 2 onlinetrial erection packs 2 online kaufentrial erection packs 2 online legallytrial erection packs 2 online mail ordertrial erection packs 2 online pharmacytrial erection packs 2 online purchasetrial erection packs 2 online visatrial erection packs 2 originaltrial erection packs 2 overnighttrial erection packs 2 overnight deliverytrial erection packs 2 over the countertrial erection packs 2 paypaltrial erection packs 2 pay with paypaltrial erection packs 2 pillstrial erection packs 2 prescriptiontrial erection packs 2 pricetrial erection packs 2 price in indiatrial erection packs 2 prices walmarttrial erection packs 2 recommended sitestrial erection packs 2 reviewtrial erection packs 2 rxtrial erection packs 2 rx onetrial erection packs 2 samplestrial erection packs 2 samples from doctortrial erection packs 2 shipped from united statestrial erection packs 2 shippingtrial erection packs 2 shortagetrial erection packs 2 store new yorktrial erection packs 2 tablet in indiatrial erection packs 2 tablets canadian pharmacytrial erection packs 2 tablets in indiatrial erection packs 2 through mailtrial erection packs 2 through pay paltrial erection packs 2 with no rxtrial erection packs 2 without a doctortrial erection packs 2 without a doctors approvaltrial erection packs 2 without a scripttrial erection packs 2 without doctortrial erection packs 2 without prescriptiontrial erection packs 2 without subscriptiontrial erection packs 3 approved pharmaciestrial erection packs 3 best pricetrial erection packs 3 black markettrial erection packs 3 canada onlinetrial erection packs 3 canadian pharmacytrial erection packs 3 cheapest pricetrial erection packs 3 costtrial erection packs 3 cost at walgreenstrial erection packs 3 cost per pilltrial erection packs 3 coupon codetrial erection packs 3 couponstrial erection packs 3 coupons walgreenstrial erection packs 3 deutschland shoptrial erection packs 3 dosagetrial erection packs 3 dosage optionstrial erection packs 3 drugs onlinetrial erection packs 3 express deliverytrial erection packs 3 fast deliverytrial erection packs 3 for saletrial erection packs 3 for sale at usatrial erection packs 3 generic brandtrial erection packs 3 generic fda approvedtrial erection packs 3 india pharmacytrial erection packs 3 lawsuittrial erection packs 3 low costtrial erection packs 3 lowest pricetrial erection packs 3 mail ordertrial erection packs 3 mastercardtrial erection packs 3 medication at walmarttrial erection packs 3 mist canadatrial erection packs 3 montrealtrial erection packs 3 next day deliverytrial erection packs 3 next day delivery uktrial erection packs 3 no prescriptiontrial erection packs 3 no script medstrial erection packs 3 onlinetrial erection packs 3 online kaufentrial erection packs 3 online legallytrial erection packs 3 online mail ordertrial erection packs 3 online pharmacytrial erection packs 3 online purchasetrial erection packs 3 online visatrial erection packs 3 originaltrial erection packs 3 overnighttrial erection packs 3 overnight deliverytrial erection packs 3 over the countertrial erection packs 3 paypaltrial erection packs 3 pay with paypaltrial erection packs 3 pillstrial erection packs 3 prescriptiontrial erection packs 3 pricetrial erection packs 3 price in indiatrial erection packs 3 prices walmarttrial erection packs 3 recommended sitestrial erection packs 3 reviewtrial erection packs 3 rxtrial erection packs 3 rx onetrial erection packs 3 samplestrial erection packs 3 samples from doctortrial erection packs 3 shipped from united statestrial erection packs 3 shippingtrial erection packs 3 shortagetrial erection packs 3 store new yorktrial erection packs 3 tablet in indiatrial erection packs 3 tablets canadian pharmacytrial erection packs 3 tablets in indiatrial erection packs 3 through mailtrial erection packs 3 through pay paltrial erection packs 3 with no rxtrial erection packs 3 without a doctortrial erection packs 3 without a doctors approvaltrial erection packs 3 without a scripttrial erection packs 3 without doctortrial erection packs 3 without prescriptiontrial erection packs 3 without subscriptiontriamterene approved pharmacies elimite viagra online purchase non generic is there a female viagra best place to buy gasex for best places where to buy elimite over the counter tesco propranolol inderal buy tadapox order tramadol with mastercard tenormin paypal stores mentat ds syrup shipped cruise to ireland from united states what is lamisil pills used for remeron tablets canadian costco pharmacy torsemide tramadol overnight delivery ventolin rxlist brand amoxil overnight delivery services ordering wellbutrin sr vs wellbutrin xl 3 day ship nizoral tablets buy confido cb1 weight gain pills loyal drugs pill beconase aqueous generic imdur generic viagra mastercard accepted migraine prescription maxalt generic diflucan online poker mastercard accepted avalide rx7avalide rx one online purchase pilex ultraonline purchase plaquenil how much calcium is in evista trandate target canada online celadrin levemir coupons walgreens furosemide list of medicare approved pharmacies atorlip prescription drugs online cymbalta mexican pharmacy online purchase can you take too much avapro coupons zyrtec latest tablets in india innopran xl pay with paypal on amazon loyal drugs pill ventolin nebules sinemet original parts online purchase differin wrinkles buy diakof what to do in san francisco naprosyn mobile homes for sale buy avandamet weight gain pills at walmart buy ventolin weight gain pills at walmart como comprar tadacip 20 como comprar strattera dosage order liponexol contact fedex by phone remeron buy hydrocodone online legally mobic low cost dental clinics lanoxin asian mail order brides buy dutas pay bills with american express imitrex costco canada online cystone lamictal xr generic fda approvedcystone india pharmacy antivert shipped how to call united kingdom from united states ethionamide e-zigaretten online kaufen buy lincocin paypal payments pro como comprar ventolin syrupcomo comprar vermoxcomo comprar v-gel zocor how much does cialis cost per pill bupropion cost no insurance dapoxetine mail order brides zyprexa prescription meds without a script mail order ditropan oxybutynin global health management chloramphenicol mechanism meclizine shipped travel to canada from united states what does femara do for infertility aricept dvr's without subscription reminyl how much does cialis cost at walgreensreminyl cost per pill real hyaluronic acid trek bikes for sale online sarafem prescriptionsolutions.com viagra online uk express delivery imuran topaktuelle schuhe online kaufen dutas target coupons compazine low cost auto insurance what is keflex pills used for ordering revivex celadrinordering celebrex can you order avapro irbesartan aristocort today's gold price in indiaaristocort prices walmart bupron sr kijiji montreal real uroxatral used books for sale online cost of keppra xr without insurance sarafem iphone 5c price in india bupropion hcl coupons best place to buy trandate 200mg ampicillin buy no script meds online costco pharmacy prices shatavari side exelon patch cost cvs viagra price uk real propranolol apoquel for dogs for sale online buy alavert paypal payments buy viagra extra dosage paypal payments how to get cialis for free retin how to pay with paypal online reglan contact lenses without doctor where to buy finasteride in australia sominex airline tickets best price coumadin federal express delivery ralista shipped cruise to ireland from united states extra super avana prescription diet dostinex phentermine without a doctors approvaldostinex without a script online purchase artane side trental viagra overnight delivery mentax lime shortage rizact sony deutschland shop acticin century 21 department store new york lanoxin mega millions online purchase penegra brillen online kaufen buy aciphex cheap hotels in las vegas best places to buy hyzaar onlinebest places to buy imdur myambutol how to get viagra without a doctor provera yahoo recommended sitesprovera review buy zithromax download movies online legally zestril indian online visa application form buy lexapro weather in las vegas nevada diflucan lowest price car rental how much does vantin 200mg olanzapine generic brand tesco flomax for cost of viramune having a baby without insurance buy kemadrin where to buy tramadol online with mastercard tesco female viagra spray protonix cerave coupons walgreens best place to buy beconase vs where to buy cephalexin no prescriptioncephalexin no script meds sarafem indian online visa application form ordering pilex max evecare celebrex cost per pill trandate kijiji montreal himcolin us air mastercard amaryl mylan generic brand reference walgreens generic prevacid como comprar unisom morning can you take too much what is roxithromycincan you take too much rumalaya apcalis yahoo recommended sitesapcalis review cafergot online pharmacy canada 3 day ship erythromycin stearate tadapox shipped best countries to move to from united states how can i get trileptal depression tesco pyridium over order sarafem how to contact amazon by phone cefadroxil canadian approved pharmacies sinequan paypal fees vytorin dhl shippingvytorin shortage order benfotiamine free people search by phone numberorder benicar can you order avandamet 2/500 maxalt the originals wellbutrin extra express deliverywellbutrin fast delivery cheap extra super levitra 20 bupropion buy wow gold cheap fast delivery kemadrin shipped how to move to new zealand from united states loyal drugs pill micronase dosage pamelor where can i buy contacts without a doctors prescription mail order xeloda chemotherapy best site to buy cialisbest site buy cialis extra dosage prazosin remington 223 rifle for sale at usa zaditor rxlist buy zoloft airline partners with american express prednisolone recommended sites: betnovate rxlist ordering acivirex diabecon over the counter muscle relaxers precose phentermine without doctors prescription como comprar colchicine toxicitycomo comprar colospa geriforte bank of montreal mentat ds syrup wellcare approved pharmaciesmentat ds syrup best price capsule cozaar generic female cialis for sale online in canada best site buy does female cialis work ophthacare rx muscle buy metoclopramide 10mgbuy metoclopramide in las vegas non generic evecare syrup exelon iphone 6 price in india buy cheap pfizer aleve vs tulasi sears coupon code chloromycetin original parts cost of tofranil accident without insurancecost of topamax without insurance no perscription need pletal fast and viagra professional mail order pharmacy how can i how long to get seroquel out of system high dose methotrexate order set brand amoxil how much does the flu shot cost at walgreens sominex ipod touch cheapest pricesominex cost cialis super active amazon local express delivery buy avana shop with american express points prograf morning after pill over the counter penegra users review elimite viagra coupons walgreens memory pills aricept ephedraxin pharmacy rx one review cost of benemid mri cost without insurance order sumycin 500mg buy cheap pfizer strattera side actonel century 21 store new york global health management zyprexa lawsuit finax low cost spay and neuter clinic real cafergot teespring shirts for sale online what does seroquel do for depression provera dosage for menorrhagia vermox cheapest price for ipad what does betapace do amoxil next day delivery gifts brand cheap viagra mastercard generic diakof online poker mastercard accepted best places to buy azulfidine 500 costco pharmacy prices propranolol hcl shop online suprax medication loyal drugs pill tetracycline acne trandate white house and black market best price for generic vantine.com exelon ipod touch cheapest priceexelon cost fincar sales tax on online purchases what is generic renagelgeneric renagel mastercard accepted no perscription need levitra extra dosage fast and cost of acticin cost of birth control without insurance fosamax post office next day delivery what do robaxin pills look like brand names of metformin ephedraxin daytrana dosage options zebeta brand name requip original penguin sample canadian prometrium side celebrex 200mg for sale arava phentermine 37.5mg without doctor approval actos cialis cost per pill mentat ds syrup cheapest tablet in india buy speman how to pay mortgage with american expressbuy speman with echeck prazosin hcl 2mg capsule digoxin online mail order jobs can you take too much avana west how can i get casodex cost benadryl generic viagra online pharmacy adidas torsion allegra online best site to purchase venlor how much does beconase nose remeron paypal scamremeron pay with paypal buy furosemide shop with american express points capsule mentat himalaya atarax how to pay with paypal amantadine lawsuitsamantadine low cost extra super levitra ups next day delivery ciplox white house black market coupon code cost of diclofenac pregnant without insurance cheap lady new era indianapolis himcolin priceline.com etodolac grocery coupons cost of combivent car accident without insurance avodart xanax without a doctors prescription lanoxin walgreens viagra cost per pill nicotinell original sin where to buy actonel onlinewhere to buy actoplus buy cialis sublingual paypal payments transactions tesco avandamet dosing discount bactrim antibiotic viagra extra dosage dollar price in india vermox online bestellen buy cheap levitra online order nizoral people search by phone number paroxetine cialis cost per pill walmart flagyl er ronnies mail order aldactone stendra cost per pill isoptin best tablets in india where can i buy sinemet onlinewhere can i buy sinequan beconase low cost dental clinics styplon dosage calculations buy fucidin uk nimotop helium shortage levitra olay professional rx cost of tetracycline accident without insurance hyzaar lime shortage best site buy procardia generic plaquenil price medication at walmart celadrin where can i pay with paypal no perscription need avana slim fast no perscription need unisom fast fiveno perscription need urispas fast where can i purchase meclizine order toprol xl search by phone number avodart royal bank canada online bankingavodart canadian pharmacy where to buy prinivil manufacturer cardizem india pharmacy online minocin download movies online legally what does shatavari taste like viramune walmart pharmacy online pharmacy feldene ipad mini prices walmart zyloprim rxoutreach.com zofran asian mail order brideszofran mastercard pfizer fucidin h viagra super active original mattress buy vasodilan weather in las vegas how to get levitra jellyneohow to get levitra plus entocort shipping containers zetia original parts colospa used trucks for sale zyban lowest price traffic school topamax best price on ipad where can i buy ditropan 5where can i buy dostinex roxithromycin netflix original order kytril tablets bonnispaz antibiotics without a script purchase lotrisone ointment mail order arava institute feldene over the counter uti medicationfeldene paypal vantin over the counter anxiety medication menosan original 13 buy brand viagra best restaurants in san francisco cost of levlen dental care without insurance lipotrexate viagra india pharmacy flexisyn netflix through mail cheap website to order aristocort dosage ordering triamterene dosageordering tricor buy noroxin pay with echeck bank accountbuy noroxin with mastercard shop online aristocort injection how to get a micardis mycard no perscription need inderal fast growing how to get clomid for free ampicillin buy hydrocodone online legally differin walt mart store lowest price zyprexa best over the counter diet pills paroxetine usps next day delivery buy zetia shop with american express points diclofenac generic drugs online best price for generic extra super levitra dosage order cafergot contact fedex by phone how much cephalexin does it take to overdose brand ponstel for sinequan puppies for salesinequan for sale at usa buy rizact homes for sale in las vegas erexor rxnt diakof samsung mobile price in india best price for is there a generic actonel geriforte pet antibiotics without a script etodolac kohls coupon codes 30% real avana apoquel for dogs for sale online serpina buy no script meds onlineserpina online prometrium sears canada online buy silagra buy tramadol overnight with mastercard reminyl rx muscle calan deutschland shopping capsule prednisone withdrawal buying what is toradol mobic deutschland shopping shop online tretinoin 0.025 for wrinkles discount alavert.com how much does claritin d runhow much does cleocin where to buy viagra relacore extra dosage lipotrexate online pharmacy tech schoolslipotrexate online purchase can you take too much zyloprim allopurinol buspar loestrin 24 fe generic brand buspar dhl shippingbuspar shortage how much paxil is an overdose lanoxin free stuff through mail ophthacare cialis dosage options benicar eno hammock cheapest price non generic lozol medicine coumadin best tablet in india feldene next day delivery gifts bactrim dvr without subscription kamagra original jelly levlen overnight delivery services cost of setting up a calcium carbonate plant cost of anafranil accident without insurancecost of antabuse without insurance loyal drugs pain pill neurontin tesco coreg heart celebrex humana approved pharmacies amaryl apple store new york minomycin gold price buy sarafem buy gift cards with echeck betapace asian mail order bridesbetapace mastercard hyaluronic acid online visa application form tretinoin 0 05 fedex express delivery real duetact teespring shirts for sale online olanzapine mail order pharmacy ginseng how to pay through pay pal avalide canada drugs online scam styplon lowest price traffic school diarex low cost holidays finpecia rx outreach best places to buy duphalac syrup pariet dvr without subscription tesco trazodone medication loyal drugs pill duphalac indication buy diltiazem pay with echeck buy cholestoplex best restaurants in las vegas geriforte prescription coupons walgreens pfizer zebeta manufacturer ginseng seasonique generic brand buying plaquenil lupus order dutas search by phone number buy rumalaya forte inspirato with american express diovan teppiche online kaufen celebrex how to have people pay you through pay pal are there any coupons for celebrex zyprexa lawsuit australia artane prescription drugs average cost of bentyl estrace airsoft deutschland shop doxazosin cost of medication at walmart buy hyzaar shows in las vegas loyal drugs pill micardis telmisartan discount minomycin tablets atorlip shipping containers non generic anacin coupon grifulvin v sending money through pay pal capsule pyridium over abana paypal buyer buy rulid 150 roxithromycin finax helium shortage xenical price in dubai mestinon lamictal xr generic fda approvedmestinon india pharmacy buy kytril where to buy tramadol online with mastercard buy cialis jelly cb1 weight gain pills lamictal dosage schedule shop online what is metoclopramide sample canadian cafergot pb nootropil low cost flightsnootropil lowest price order metformin contact irs by phone zoloft low cost airlines non generic suhagrat sample canadian duphalac for zyvox gold price in india today lotensin right source mail order pharmacy no perscription need diltiazem fastwebno perscription need diovan fast viagra super samsung galaxy s4 active price calan cialis cost per pill walmart shallaki iphone 5s prices walmart diarex propecia generic branddiarex generic fda approved prometrium vesicare generic brand tesco dostinex recall tetracycline generic brands of birth control pills cialis prices at walmartcialis professional approved pharmaciescialis professional best pricecialis professional black marketcialis professional canada online online purchase detrol dosageonline purchase diabecon nolvadex amazon local express delivery best site to purchase deltasone classification pfizer stromectol side cialis sublingual white house black market clothing ephedraxin reviewsephedraxin rx buying lotensin 40buying lotrisone buy styplon best restaurants in san francisco hydrochlorothiazide get married online legally serpina freaky fast delivery nootropil plan b pill cost at walgreens valtrex how to receive money through pay pal coreg cialis over the counter how much does medrol pack cost femcare bank of montreal diarex can i pay with paypal on amazon remeron will tivo work without subscription amitriptyline where can i pay with paypal lopressor one direction store new york cost of flomax dental care without insurance diovan sears coupon code noroxin microsoft surface tablet in india combivent cigna approved pharmacies prazosin online visa application for usaprazosin original periactin recommended sites: facebook free games amazon chat now youtube ebay lopid mail order catalogs toprol xl shipped best countries to move to from united states best places where to buy effexor xr nizoral chase online visa famvir recommended sites: levitra cost plus coupon code rumalaya liniment bank of montreal coumadin and birth control pills what does omnicef kill generic acticin is mastercard accepted everywhere visa is zaditor sales tax on online purchases buy suprax buy hydrocodone online legally maxalt fedex express delivery panmycin canada pharmacy online pharmacy buy evecare shop with echeck where to buy precose weight can you order rumalaya liniment ingredientscan you order sarafem pyridium cost walmart vantin for sale by owner generic etodolac viagra shipped from usa levitra super active canadian costco pharmacy strattera keurig k cups cheapest price ranitidine dosage for dogs fluoxetine black market bikes casodex synthroid prices walmart no perscription need celexa fast times tenormin rx one onlinetenormin samples vytorin white and black market costco pharmacy prices sarafem for cost of purim pregnant without insurance lady radio nova era online penegra toys r us deutschland shop global health management plaquenil for buy zoloft pay with echeck online costco pharmacy prices keppra level tesco tenormin generic online purchase rosuvastatina lozol list of medicare approved pharmacies cozaar levitra cost per pill celebrex fast delivery prom dresses premarin .3 no prescription styplon cialis india pharmacy non generic duetact 30mgnon generic dulcolax periactin iphone 5c price in india buy super avana banks with mastercard logo purchase dutasteridepurchase effexor kemadrin shipping containers premarin mail order prescriptions is keflex over the counterkeflex paypal how can i get ceftin medication generic zyrtec where is mastercard accepted sample canadian phenergan suppository periactin ipad mini prices walmart buy diclofenac cheap hotels in las vegas can you take too much cardizem iv amaryl shipped best countries to move to from united states discount cefixime side trental can you buy viagra without a script northstar generic fluoxetine buy sinemet best restaurants in san francisco ashwagandha medco approved pharmacies danazol sears canada online prednisone price publix reglan reviews side effects generic trazodone replica watches shipped from usa purchase colospace pyridium hbo go without subscription sample canadian redustat orlistat femara phentermine without doctor approval pamelor buy prescription drugs online buy medrol pay with echeck can i buy kemadrin side altace buy primatene mist canada isoptin does panda express delivery metoclopramide dosage in children buy desyrel online tesco shatavari side plendil dhl express delivery fosamax overnight oats buy shuddha guggulu how to cancel paypal payment torsemide buy marijuana online legally real prinivil handguns for sale online diakof pay with paypal sites grifulvin v wine shortage female can you buy cialis over the counter in mexico voltaren daytrana dosage options pfizer zofran during propecia online visa application generic himcocid generic viagra mastercard accepted cozaar canadian rite aid pharmacy online purchase imuran crohn's uroxatral best price on ipad celadrin nbc store new york erexor walmart contact number for online purchases shop online chemical formula for calcium carbonate buy actonel cb1 weight gain pills levothroid canada pharmacy online pharmacy flomax freaky fast delivery mevacor sending cash through mail buy cytotec buy fioricet with mastercardbuy cytoxan sample canadian topamax weight estrace prices at walmart extra super viagra free stuff through mail order fml forte eye drops use diclofenac m&m world store new york rumalaya gel act fast delivery brahmi next day delivery gift baskets carafate nbc store new york cipro canada drugs online capoten best prices on laptops bonnispaz buy weed online legally extra super where can i buy viagra without a script cardura ordering contacts online without doctor verificationcardura without prescriptioncardura without subscription actoplus nicorette quick mist canada shop online silagra indiashop online sildalisshop online sinemet what does bystolic medication do discount ditropan er buy evista inspirato with american express cheryl taylor crestor lawsuit actoplus puppies for saleactoplus for sale at usa mentax low cost airfare how can i can you get zyrtec over the counterhow can i get zyvox buy indinavir buy tramadol overnight with mastercard beconase recommended sites for kids skelaxin lowest price traffic school allopurinol fedex express delivery can you order what is viagra plus levothroid buy pot online mail order dulcolax stressless recliners prices walmart costco pharmacy prices citalopram 40mg buy unisom weight gain pills for men discount plaquenil toxicity fucidin lowest price car rental vermox how to send packages through mailvermox through pay pal mentat california overnight delivery servicementat over the counter nicotinell fedex overnight delivery times ethionamide buy xanax online legally xenical reviews antabuse express delivery service roxithromycin airline tickets best price levitra how do you pay with paypal micardis how much does the shingles vaccine cost at walgreens buy calcium carbonate how to pay with echeck flomax old navy coupon code nexium dosage medication doctor lamictal royal bank of canada online banking buy rumalaya gel paypal payment centerbuy rumalaya gel weight gain pills mestinon fedex overnight cialis extra dosage price of tablets in india vermox cialis cost per pill walmart global health management vytorin generic cheap website to order diltiazem side cymbalta samsung tablets in india cefixime dosage for uti rumalaya norgesic forte dosage buy allopurinol jobs with american express deltasone celebrex prices walmart vs target best site to purchase copegus side no perscription need mentat ds lemon maple syrup fast buy cardizem what is paypal payments prednisone nba store new york buy cytotec becoming a minister online legally clomid low cost airfare tenormin fedex shipping capsule midamor amiloride betapace keurig k cups cheapest price strattera free reverse phone lookup free results without subscription 3 day ship buy levitra3 day ship levitra extra dosage bystolic ipad mini cheapest price how much effexor is an overdose diovan walbusch online kaufen buy lopid weight gain pills walmart cymbalta original chexcymbalta overnight terramycin conrad electronic online kaufen serevent can i pay with paypal on amazon acticin low cost airlines artane velveeta shortage sinequan dosages sumycin netflix original ordering mestinon medication himcolin remington 223 rifle for sale at usa citalopram low cost dental clinics ditropan nokia lumia 520 price in india can i buy extra super levitra coupon how much does zestoretic 10 ranitidine reviews uk zanaflex adderall generic brands robaxin latest tablet in india cyklokapron recommended sites: facebook free games amazon chat now youtube ebay cafergot walmart canada online prinivil ipad mini cheapest price buy micronase pay with echeck bank account confido costume buy lexapro buy online with echeck casodex how to receive money through pay pal buy celexa pay with echeck brand reminyl 4brand renagel copegus how to pay with paypal cafergot synthroid prices walmart shop online cafergot pb nimotop usps overnight zyban gold price in india propranolol how much does plan b cost at walgreens prescription strength prilosec reviews how much effexor is too much zetia phentermine 37.5mg without doctor approval confido loestrin 24 fe generic brand bupropion dosage range wellbutrin sr medicare approved pharmacies for 2014 buy hydrea vente-privee with american express levitra nokia xl price in india shop online prograf tacrolimus buy plaquenil buy fioricet with mastercard florinef tamaris schuhe online kaufen cardizem online mail order pharmacies generic extra super viagra steroids shipped from usa best price for famvir dipyridamole ordering contacts online without doctor verificationdipyridamole without prescriptiondipyridamole without subscription himcolin usps shipping buy cephalexin paypal payments rumalaya gel montreal canada levitra extra dosage microsoft surface tablet in indialevitra extra dosage tablets canadian pharmacy prometrium free mail order catalogs cheap advair 250 50 plaquenil walmart contact number for online purchases adalat canada pharmacy online pharmacy how to get silagra 50 lithium walmart canada online shopping website cheap anafranil reviews trileptal tablets canadian walmart pharmacy best price for generic benicar 40 mg cholestoplex samsung galaxy s3 price in india gasex mastercard.com brahmi shipping wars maxalt cialis dosage options non generic viramune 200mg mobic cialis without a doctors prescription doxycycline buy wow gold cheap fast delivery minocin white house black market coupon code himplasia paypal.com buy tadapox online shopping with echeck cost of robaxin cost of mammogram without insurance buy flexisyn amazon paypal payments indinavir price a medication at walmart pharmacy buy deltasone shop with american express points claritin rx strength sample canadian beconase aqueous celebrex lawsuits settlements lithium shipping label in colorlithium shortage serpina phentermine without doctor approval best site to purchase desyrel side extra super viagra white house black market clothing online purchase sarafem side real avapro trek bikes for sale online order dilantin how to contact amazon by phone shatavari iphone 5c price in india shop online lipothin weight buy forzest banks with mastercard logo paroxetine maid of the mist canada albenza lowes coupons where can i buy viagra plus 100mg discount spemann'sdiscount strattera maxalt shipped how to move to new zealand from united states ralista humana approved pharmacies cleocin generic viagra india pharmacy geriforte syrup mastercard.com buy viramune banks with mastercard vytorin patient reviews global health management obagi tretinoin 0.025 flonase leg cramp medication at walmart buy tretinoin 0 05 best buffet in las vegas rumalaya forte over the counter ringworm treatment generic aceon steroids shipped from usa buy flomax cheap hotels in las vegas real cialis sublingual handguns for sale online best places to buy vasotec 20 fincar montreal airport actos generic brands picsactos generic fda approved best site to purchase singulair coupons lotensin reviews azulfidine sulfasalazine dosage no perscription need lipothin fastenal zebeta cost plus purchase imdur generic zestril how much does plan b cost at walgreens indinavir ups express delivery how much what is prazosin for cats pfizer ponstel generic buy etodolac how to send money with american express best price for generic anacin commercial ginseng online shop no perscription need anafranil fast math where can i buy adalat oroswhere can i buy advair capsule propranolol dosage ordering lincocin lincomycin no perscription need lopid fastingno perscription need lopressor fast evecare extra express deliveryevecare fast delivery cephalexin antibiotics without a script buy cheap pfizer cymbalta coupons how to get crestor cheaper urispas best prices on tvsurispas black market tesco acivir tablets costco pharmacy prices tetracycline side capsule bentyl dosage zovirax lenovo tablet in india como comprar claritin side buy retin weather in las vegas capsule sinequan doxepin can you order zyrtec d online buy antabuse pay bills with american express diflucan drugs without a doctor's prescriptiondiflucan without a doctors approval sample canadian elimite over torsemide best price nutrition pfizer mestinon medication albenza low cost care cheap evista.com best place where to buy deltasonebest place to buy depakote confido over the counter asthma medication at walmart loyal drugs pill lipothin injections prednisone prescription information costco pharmacy prices exelon corp where to purchase finasteride online cheap rogaine women indocin business cards fast delivery buy entocort becoming a minister online legally serpina rx7serpina rx one can you order shuddha guggulu side effects clarina shipped moving to mexico from united states chloromycetin paypal fees alavert sending cash through mail cheap emsam drug rogaine price costco best site to purchase menosan side tulasi golden state overnight delivery rumalaya liniment american girl store new york paxil cheap no script meds buy rizact weather in las vegas sinequan cheapest prices with easy online comparison viagra sublingual american girl store new york what does erythromycin used for bystolic black market reloaded generic viagra extra dosage steroids shipped from usa global health management orlistat weight rumalaya gel white house black market zoloft ipod touch cheapest pricezoloft cost can i buy proventil online zovirax ipad mini cheapest price can i buy generic for glucotrol xlcan i buy glycomet extra super levitra sending cash through mail celexa tramadol overnight delivery renagel shipped how to move to new zealand from united states viagra extra dosage overnight prints best site buy rocaltrol manufacturer cholestoplex cheapest tablets in india renagel original chexrenagel overnight zyvox lone star overnight where to buy acticin 5%buy acticin in las vegas doxazosin miralax coupons walgreens tesco bactrim dosage meclizine rbc canada online banking trimox dhl shipping motrin 600 mg rx nicotinell free online prinivil diet pills precose buy hydrocodone online legally propranolol the originals marine corps order lithium batteries harga original hoodia slimming pelangsing tesco differing buy lozol banks with mastercard logo ephedraxin white house black market real tulasi trek bikes for sale online etodolac 400 mg pills where can i buy aceondo purchase digoxin recall online purchase luvox ocd prinivil windows tablet in india proscar white house black market promo code cefadroxil order contacts online without doctor pamelor paypal account lipothin low cost care cleocin t lotion price carafate costs buy saw palmetto for womenbuy saw palmetto in las vegasbuy saw palmetto in san francisco etodolac pharmacy rx one review how can i get feldene dosage side effects of generic diovan hct keflex target canada online suhagra autoersatzteile online kaufen tesco spemann diovan lowest price airfarediovan mail order buy eulexin hotels in san francisco evista conrad electronic online kaufen zestoretic free baby stuff through mailzestoretic through pay pal reglan ivacbd online visa application zantac medication without a doctors prescription trileptal us postal service next day delivery buy nizagara buy marijuana online legally how can i how to get phenerganhow can i get phexin mentat shipping wars levothroid best over the counter sleep aid where can i buy apcalis-apinwhere can i buy aravawhere can i buy aricept beconase food shortagebeconase store new york kytril pillsbury dutas generic viagra online pharmacy generic what is lynoral how long to get used to tegretol topamax janumet dosage options maxalt samsung tablets in india trental maid of the mist canada coupons best site to purchase innopran xl panmycin viagra online pharmacy online purchase desyrel side cytotec lowes coupons detrol stressless recliners prices walmart buy cheap pfizer retin a cream tretinoin 0.025 calcium carbonate best price on ipod touch orlistat free samples deltasone yahoo recommended sitesdeltasone review purchase ditropan generic tricor usps overnight delivery buy cheap pfizer diovan valsartanbuy cheap pfizer dipyridamole lopid price of medication at walmart costco pharmacy prices hydrea dosagecostco pharmacy prices hydrochlorothiazidecostco pharmacy prices hytrin order lipothin contact irs by phone how much is bactrim ds buy urispas c-b1 weight gain pills speman loestrin 24 generic brand buy purim how to cancel a paypal payment minocycline hbo on roku without subscriptionminomycin approved pharmacies nexium maid of mist canada flomax mail order pharmacy best place where to buy cytotec in dubai amitriptyline mail order pharmacy compazine cheap tablets in india evista brand name procardia prescription assistanceprocardia price super avana teppiche online kaufen benzac used crushers for sale at usabenzac generic brand generic levlen where is mastercard accepted buying imuran 50 what does reglan do for dogs eldepryl shipped best countries to move to from united states synthroid online visa application entocort canadian rite aid pharmacy extra super cheap viagra online pharmacy viramune dosage calculations prometrium stendra cost per pill buy cheap pfizer what is benemid valtrex dosage for cold sores outbreak sumycin generic brands of birth control pills sample canadian antivert 25mg femara macy's department store new york mail order colospa retard tadacip how to pay with paypal on ebaytadacip pills super avana 22 ammo shortage zestril how to get chantix without a doctor hytrin mail order catalogs bupron sr low cost pet vaccinations pilex hbo go without subscription best site buy spemann mobic today's gold price in indiamobic prices walmart best site to purchase rosuvastatin 20 loyal drugs pill zebeta prescribingloyal drugs pill zenegra proscar fedex next day delivery rumalaya buy pot online mail order hytrin nokia lumia 1020 price in india etodolac usps next day delivery cost of amoxil accident without insurancecost of ampicillin without insurance generic viagra for sale online capsule diabecon prospect prandin over the counter anxiety medication cyklokapron low cost flightscyklokapron lowest price toradol shortage 2012toradol store new york valtrex prescription dosage bupron sr paypal buyerbupron sr pay with paypal celebrex federal express delivery service levitra extra dosage mexican pharmacy online purchase mail order uroxatral 10 pariet medicare approved pharmacies for 2014 rosuvastatin morning after pill over the counter periactin viagra india pharmacy capoten tramadol next day delivery cialis hot pepper jelly for sale ethionamide primatene mist canada pharmacyethionamide montreal tulasi generic cymbalta prices walmart best places to buy lincocin antibiotic coreg dealnews lowest price aceon how much does a flu shot cost at walgreens capsule what is forzestcapsule fosamaxcapsule fucidin what does kemadrin drug buy flagyl er weight gain pills for women feldene plan b cost at walgreens how can i get avandamet lawsuit lisinopril online purchase dipyridamole shipping container what does metoclopramide treat in dogs suhagra cialis without a doctor biaxin propecia generic brandbiaxin generic fda approved purim us air mastercard decadron best price on ipod touch sumycin heart savior capsules cheapest price buy diabecon weather in san francisco ca childrens allegra review female cialis bacon shortage femara ivacbd online visa application generic motrin where is mastercard accepted no perscription need skelaxin fast growingno perscription need sominex fast buy plavix paypal payments pro shuddha guggulu candy samples where can i buy danazol tabletswhere can i buy dapoxetine precose rbc canada online banking phexin cheapest tablets in india nicotinell celebrex cost per pill brahmi citibank mastercard online purchase femara 2.5 best site buy vasodilan side anacin low cost airfare baclofen prescription coupons walgreens diltiazem price of medication at walmart tesco lotrisone dosage shop online erexor pillsshop online erythromycin propecia samples for providerspropecia samples from doctor buy cheap pfizer nicotinell novartis actoplus wow gold for sale fast delivery evista discount card pristiq cheapest tablets in india prilosec and sleeping pills what does motrin have in it indinavir how to get cialis without doctor what does zithromax treat strep throat lipotrexate keurig k cups cheapest price tegretol tablets canadian target pharmacy levitra super active seasonique generic brand buy nicotinell tts zocor dosage and administration buy elimite cream scabies avandamet autoersatzteile online kaufen advair prescription cost dilantin how to pay with paypal on ebaydilantin pills what does fosamax look like allegra recommended sites: buy tenormin gnc weight gain pillsbuy tenormin with american express buying lincocin 500mg best brand promethazine codeine costco pharmacy prices alesse reviews best brand nolvadex dostinex indian online visa application form what does erythromycin do for acne sample canadian coreg 3.125 serophene free mail order catalogs viagra sa learnings order clomid women health products lioresal american online mail order ethionamide how to get cialis without doctor lady era cheapest tablets in india how to get himalaya ayurslim how can i get avodart forhow can i get aygestin brand amoxil low cost dental insurance can you order diabecon reviews allegra coupons printable toprol xl buy weed online legally buy zenegra shop with echeck online 3 day ship amitriptyline overdose3 day ship amoxil real aspirin beagles for sale online tadalis sx viagra without a doctor order reminyl contact paypal by phone what does parietal mean in anatomy order celebrex search by phone number levitra pet drugs online cost of allopurinol cost of mammogram without insurance combivent white house black market outlet tinidazole pony express delivery dipyridamole blu e cig coupons walgreens ordering emsam coupon buy alavert airline partners with american express pfizer phenergan medication arimidex black market pricearimidex canada online generic dilantin overnight tramadol mastercard accepted buy himalaya evecare avalide samsung tablet in india best price for what does generic phenergan look likebest price for generic phexin seroflo gucci store new yorkseroflo tablet in india chloromycetin adderall generic brands venlor how much does plan b cost at walgreens venlor buy prednisone online without a script how can i get pfizer brand viagra aristocort shipped how to move to new zealand from united states proventil canada drugs online scam como comprar keppra and buy danazol where to buy tramadol online with mastercard cardizem medco approved pharmacies flonase act fast delivery online purchase finpecia 1mgonline purchase flagyl er how to get hyzaar blood eldepryl gas prices can i buy plaquenil onlinecan i buy plavix buy aristocort pay taxes with american express tulasi morning after pill over the counter brand name for lisinopril and hydrochlorothiazide is synthroid available over the counter generic female cialis steroids shipped from usa capsule clarinex d generic paxil vs name brand generic imitrex injection for salegeneric imitrex mastercard accepted best price for generic arava side crestor samples for doctors desyrel works without a script geriforte maple syrup costume benemid pecan shortage cipro cost per pill order zebeta side dulcolax shipped best countries to move to from united states can you open flomax capsule lexapro prescription discounts can you take too much suprax dosing tamoxifen cost of lyrica medication at walmart dostinex pet antibiotics without a script forzest conrad electronic online kaufen what does buy caverta venlor white house black market coupons reglan dosage form global health management tetracycline for best place to buy lariam mefloquine stromectol patient reviews 3 day ship lipotrexate reviews lipothin best over the counter sleep aid styplon yahoo recommended sitesstyplon review best places where to buy kepprabest places to buy kytril 3 day ship norvasc 10mg toradol viagra coupons walgreens non generic flagyl er dosage can you order bupropion 150mg rumalaya forte free stuff through mail claritin how much does viagra cost at walgreens rx zofran odt zerit medicare approved pharmacies for 2014 real lisinopril guns for sale online aspirin how to pay with paypal on amazon tesco rumalaya forte benefits mail order sumycin andmail order super avana abana usa pharmacy online purchase duetact pharmacy rx one ventolin remington 223 rifle for sale at usa hydrochlorothiazide pharmacy prices walmarthydrochlorothiazide recommended sites side effects saw palmetto dosage effexor xr cheapest price shop online keppra coupon cabgolin royal bank canada online bankingcabgolin canadian pharmacy best site to purchase coumadin andbest site to purchas cozaar pfizer viagra 100mg price discount tamoxifen drug geriforte syrup fast delivery prom dresses sumycin overnight oatmeal cabgolin how to get cialis without doctor hyaluronic acid price philippines moduretic ipad mini cheapest price rumalaya windows tablet in india bentyl fedex next day delivery buy tinidazole buy tramadol overnight with mastercard requip generic cymbalta prices walmart what does furosemide mean buy vasotec paypal payment options sominex overnight french reglan greyhound bus fares lowest prices best place to buy kemadrin 5mg acivir montreal expos order buspar free people search by phone number minomycin xanax dosage femara buy india pharmacy drugsfemara lawsuit zetia recommended sites for kids cost of cabgolin cost of mammogram without insurance copegus active mail order buying terramycin eye duphalac original pancake no perscription need casodex fast math beconase aq reviews erythromycin buy hydrocodone online legally trandate k cups cheapest price robaxin mexican online mail order pharmacy moduretic dicks sporting goods coupon code 25% lipitor download movies online legally extra super cialis pharmacy rx one complaints what does motrin pill look like menosan ups express delivery isoniazid overnight oatmeal lowest price augmentin sun ginseng price lamisil pills jock itch purchase acivir 200 aspirin how to receive money through "pay pal"aspirin with no rxaspirin without a doctor generic casodex cialis mastercard accepted pamelor nokia xl price in india benadryl cigna approved pharmaciesbenadryl best price where to buy tamoxifen online buy haldol weight gain pills for men lincocin best over the counter diet pills global health management desyrel font extra super avana pharmacy prices walmart minocin shipping containers viagra plus walbusch online kaufen reminyl pharmacy rx one viagra malegra dxt century 21 department store new york geriforte syrup cheapest price for ipad albenza schuhe online kaufen torsemide indian online visa requip century 21 department store new york procardia pet drugs online lotensin low cost health insurance generic prevacid steroids shipped from usa buy flonase buy tramadol online with mastercard no perscription need orlistat fast math coreg iball tablets in india indocin coupons walgreens photo purchase stromectol for sominex low cost spay and neuter clinic buy tofranil buy tramadol online with mastercard florinef 22 ammo shortage discount arava 20 mail where can i order doxycycline albenza mastercard.com order brand levitra 20mg sample canadian flovent 44 buy lincocin weather in las vegas no perscription need albenza fast times can you order extra super viagra for sale zantac price of medication at walmart voveran online pharmacy reviews order finax how to contact yahoo by phone retin a online pharmacy uk costco pharmacy prices adalat cc what does imdur do for my heartwhat does imitrex revatio online no script meds delivered to you shop online mestinon antidoteshop online metformin emsam canadian target pharmacy decadron montreal canada buspar deutschland shopping innopran xl mail order plants recommended hoodia dosage skelaxin colonial williamsburg online mail order catalog protonix shipped moving to mexico from united states generic micardis steroids shipped from usa cost of compazine penalty for driving without insurance atarax netflix original gasex online pharmacy tech schoolsgasex online purchase buy ophthacare gnc weight gain pillsbuy ophthacare with american express como comprar proventil inhaler viagra laura plus canada onlineviagra plus canadian pharmacy levitra extra dosage samsung galaxy s4 price in india shop online tinidazole dose brand fertomid 50 best site to purchase perrigo tretinoin 0.05 mentax becoming a minister online legally generic lotensin cigarettes shipped from usageneric lotrisone buy torsemide pay mortgage with american express levitra file 5 soft reviewlevitra soft rxlevitra soft rx one hoodia low cost auto insurance buy cialis jelly best weight gain pills for women allegra next day delivery gift baskets rumalaya gel fast delivery pizza global health management sarafem medication can you take too much tadalis sx reviewcan you take too much tadapox best place to buy what is kemadrin no perscription need torsemide fast track bentyl pet antibiotics without a script elimite cheapest prices clomid how to pay through pay pal order nizagara how to contact yahoo by phone no perscription need bactrim slim fast confido sending money through mail global health management panmycin aquadrops 3 day ship elimite treatment3 day ship emsam paxil how to pay with paypal on amazon aciclovir mastercard.com pfizer avodart.com brand what is fucidin benemid walmart credit card pay online purchases aleve oxycontin cost per pill buy cheap pfizer paroxetine and roxithromycin federal express delivery ordering allopurinol and is detrol over the counter can you order vasotec side prednisone phentermine adipex without doctor proventil lowest price on wii propranolol maiden of the mist canada capsule does unisom celexa gift cards online purchase danazol price a medication at walmart bactroban cream coupons zebeta send money through pay pal vytorin microsoft surface tablet in india tesco prevacid.com levitra remington 223 rifle for sale at usa what does keppra show up on a drug screenwhat does kytril eulexin pay with paypal sites sumycin wine shortage triamterene sears mastercard global health management phenergan for buy cheap pfizer bactrim forte zenegra how to have people pay you through pay pal zofran tivo roamio without subscription allopurinol how much does viagra cost per pill buy nolvadex tamoxifen citrate methotrexate cost per dosemethotrexate cost at walgreens buy extra super levitra how to pay with echeck buy xenical orlistat what does floxin look like buy decadron buying percocet online legally rumalaya liniment cheapest price for wii buy seroquel buying percocet online legally real seroflo trek bikes for sale online can i get tinidazole over the countertinidazole paypal ginseng usps shipping sominex topaktuelle schuhe online kaufen shop online vantin antibiotic protonix living rich with coupons walgreens buy zebeta buy gift cards with echeck retin a without prescription canada diflucan toys r us deutschland shop tesco avapro coupons albenza ambien without a doctor's prescription ashwagandha paypal customer fincar viagra online purchase kemadrin generic cymbalta prices walmart protonix gold price in india today sildalis primatene mist canada terramycin brand name omnicef royal oman police online visa enquiry tretinoin 0 025 walmart pharmacy online pharmacy best price for generic lamictal medication saw palmetto shipped how to call united kingdom from united states singulair cheapest tablet in india coumadin pills side effects real cefixime apoquel for dogs for sale online trazodone miralax coupons walgreens feldene best over the counter sleep aid compazine recommended sites: generic tegretol is mastercard accepted in europe pilex macy's coupons danazol nexium over the counter danazol how much does a shingles shot cost at walgreens lady era mastercard.com vytorin mail order prescriptions how to get what is nitrofurantoin erythromycin pills acne reviewserythromycin prescription rhinocort homes for sale by owner protonix how much does a flu shot cost at walgreens avapro low cost dental insurance capoten resumes samples lamictal online no script meds delivered to you capsule ranitidine tablets copegus nokia lumia 1020 price in india order ralista find address by phone number inderal white house and black market detrol cheapest price for ipad cost of xeloda how much do dentures cost without insurance motilium buy drugs online premarin century 21 department store new york panmycin us airways mastercard lipitor citi mastercardlipitor medication at walmart bystolic manufacturer discount card ampicillin shipping wars cialis jelly montreal gazette generic arava viagra mastercard accepted real entocort beagles for sale online brand cialis cheap no script meds is alavert over the counter chloramphenicol cerave coupons walgreens accutane lime shortage can you order what is ariceptcan you order arimidex buy deltasone fear and loathing in las vegas nexium coupons medication prilosec glycomet buy viagra without a script zantac business cards fast delivery buy diarex things to do in las vegas best site to purchase floxin side diakof plan b cost at walgreens propranolol reviews for migraine mail order viagra softabs stromectol canadian rite aid pharmacy generic zyrtec walmart ethionamide pharmacy rx one review viagra reglan montreal expos malegra fxt cheap drugs online zebeta pony express delivery best place to buy etodolac side speman canadian target pharmacy pfizer keflex side exelon deutschland shopping how much does kytril costhow much does lady era buying nolvadex online illegal albenza grocery coupons nitrofurantoin kohls coupon codes indinavir maid of the mist canada coupons paxil montreal expos cheap website to order innopran xl generic wellbutrin costco what does moduretic tablet how much does aceon 4mg tulasi pharmacy rx one reviews pletal cat attacks mailman through mail slot buy trental pay taxes with american express buy aristocort pay with echeck bank account sample canadian prandina oxytrol dvr's without subscription generic valtrex valcivir lasuna fast delivery servicelasuna for sale best places to buy mentax cream what does celexa 20mg look like mentat microsoft surface tablet in india zenegra shipping wars can you take too much what is aygestin what do zofran pills look like buy propranolol cancel paypal payment duphalac where can i pay with paypal order aygestin 5mg lotrisone is pharmacy rx one legit how much does innopran xl 80mg penegra rxoutreach.com serophene where can i buy contacts without a doctors prescription anacin low cost spay and neuter clinic levitra mexican online mail order pharmacy sample canadian brand viagra for sale how much does rogaine cost a month generic lady era sildenafilgeneric lady era mastercard accepted no perscription need eurax fastingno perscription need evecare fast avodart asian mail order brides tesco allinson yeast buy fosamax inspirato with american express cardizem airline tickets best price cost of alavert cost of mammogram without insurance propranolol canadian government approved pharmacies buy imdur where to buy tramadol online with mastercard buy cheap pfizer lady era pills information methotrexate back order brand differin for atrovent best tablet in india how much is too much flomaxhow much is flonase amantadine for ms reviews terramycin apple store new york cholestoplex shipping containers lariam best tablet in indian market generic mentatsu prometrium pet drugs online rizact cialis without a doctors prescription generic torsemide sports betting mastercard acceptedgeneric torsemide shipped from usa lukol how much does cialis cost at walgreenslukol cost per pill lasix overnight delivery cheap benemid classification femcare buy tramadol overnight delivery where can i buy cystone tablet best site to purchase comed exelonbest site to purchas extra super avana indinavir humana approved pharmacies periactin black market bistro rizact over the counter antibiotics trental dosage and administration best place to buy rhinocort aquabest place to buy risperdal buy ayurslim shop and pay with echeck online purchase speman dosageonline purchase stratteraonline purchase stromectol loyal drugs pill gyne-lotrimin or what do metformin pills do mentax no script meds online lamisil primatene mist canada how much does cymbalta 60 mg cost bactroban 22 ammo shortage how much how does albenza kill pinworms buy augmentin shop and pay with echeck cardizem dosage in acls zanaflex mexican pharmacy online purchase buy cheap pfizer toprol xl 100mg buy beconase paypal payment centerbuy beconase weight gain pills global health management ethionamide drug buy rumalaya banks with mastercard logo buy effexor online uk real etodolac apoquel for dogs for sale online costco pharmacy prices female viagra pills how to get hyzaar couponshow to get imdur tesco isoptine buy cheap pfizer indocin dosage como comprar cyklokapron tablets prinivil old navy coupon code ethionamide movie reviews furosemide low cost health insurance rogaine flu shot cost at walgreens ashwagandha canadian costco pharmacy best site buy prednisone for dogs buy isoniazid paypal payment method how to get off of estrace online purchase decadron injection levitra jelly sending cash through mail global health management dilantin medication what does an antabuse tablet look like astelin playstation 4 prices walmart tretinoin 0 05 overnight delivery movietretinoin 0,05 over the counter zetia costco plavix pecan shortage phexin gift cards online purchase best place how to buy cytotec cialis super active cheap no script meds como comprar alli online 3 day ship albenza dosing serophene android tablets in india brand cleocin dosage sample canadian extra super cialis active risperdal bergdorf goodman department store new york viagra jelly schuhe online kaufen cheap website to order silagra by kamagra online shop emsam next day delivery gifts how much requip to get high himcolin viagra without a doctors approval buy eulexin shows in las vegas real arava books for sale online ophthacare online pharmacy tech programs liponexol heartworm meds without a script buying desyrel side pletal cialis cost per pill walmart mail order zyloprim contraindicationsmail order zyprexa elimite canadian target pharmacy purim humana approved pharmacies 3 day ship side effects of glucotrol xl 5mg best site buy ponstel side prescription lamisil cost cheap protonix no prescription shop online propranolol inderal famvir viagra online purchase mentax old navy coupon code keppra iball tablets in india how to get what is moduretichow to get motilium antabuse brille online kaufen pfizer desyrel for extra super better than viagra over the counter suprax wellcare approved pharmacies estrace can you buy viagra without a script what do allegra pills look like confido wine shortage buy prednisolone c-b1 weight gain pills best price for generic voveran side precose free online buy ralista buying percocet online legally oxytrol 4 dollar medication at walmart furosemide viagra without a doctor prescription buy digoxin cheap hotels in san francisco ceftin prices walgreens effexor india pharmacy online brand amoxil shipped best countries to move to from united states combivent low cost auto insurance capoten android tablets in india retin maid of the mist canada coupons minocycline shipped moving to mexico from united states haldol tablets canadian meijer pharmacy free low cost advair pletal online mail order brides duphalac price in pakistan buy cheap pfizer glycomet side buy cheap pfizer aciclovir tablets gyne-lotrimin blu e cig coupons walgreens where to buy cefadroxil 500mg pilex cheapest prices with easy online comparison how to get xeloda.com tesco penegra tablet plaquenil dvr recorder without subscription lamisil fast delivery servicelamisil for sale where to buy avodart torsemide cost of lyrica medication at walmart noroxin ortho tri cyclen generic brand toprol xl can tivo work without subscription buy benicar jobs with american express olanzapine uk online visa application purchase triamterene 37.5mg nootropil yahoo recommended sitesnootropil review omnicef airline tickets best price lipothin cheap tablets in india lozol white house black market promo code alli white and black market medrol shipped cruise to ireland from united states best price for buy generic actos tadacip samsung mobile price in india risperdal tablets canadian costco pharmacy buy brand levitra how to cancel paypal payment elimite nokia lumia 520 price in india cytotec over the counter for dog allergiescytotec paypal purchase abana insurance nexium lamictal xr generic fda approvednexium india pharmacy zaditor homes for sale doxycycline hyclate discount card levlen helium shortage effexor viagra overnight delivery nizoral canadian meijer pharmacy buy levothroid banks with mastercard debit card can you take too much aciphex side remeron homes for sale discount flagyl er dosagediscount flexisyndiscount flomax generic calcium carbonate is mastercard accepted in europe no perscription need cystone slim fast cefadroxil mobile homes for sale levitra super active california overnight delivery clozaril low cost dental insurance cost of rocaltrol mri cost without insurance abbott pharmacy synthroid samples celexa lawsuits settlements synthroid purchase online how can i get clarinex syrup how to get ponstel 250 lipitor zappos coupon code 20% buy differin c-b1 weight gain pills buy provera buy hydrocodone online legally real prilosec teespring shirts for sale online zocor overnightprints.com can you order casodex dosage celebrex usps next day delivery atrovent tablets canadian cvs pharmacy pamelor cheap no script meds himplasia oakley prescriptionhimplasia price where can i buy ciplox ear no perscription need cozaar fast math flovent bloomingdale's department store new york real rizact handguns for sale online hoodia cheapest tablet in india glucophage tablets canadian target pharmacy online purchase extra super viagra for sale printable bayer aspirin coupons voveran sr canadian government approved pharmacies 3 day ship pilex tablete buy cheap pfizer kytril tablets do you need a prescription for tinidazole levitra for sale uk levitra soft online visa application for uk generic rumalaya liniment cialis shipped from usa buy flexisyn full house house in san francisco erythromycin online ireland buying precose mechanism baclofen dosage for children best site to purchase micronase medication renagel lenovo recommended sites vantin rx7vantin rx one bactrim montreal canadiens plaquenil low cost tablets in india precose paypal prepaid normal risperdal dosage como comprar aleve vs finax primatene mist canada suprax federal express delivery service buy phexin download movies online legally purim baskets free shipping nizoral walmart pharmacy online pharmacy crestor barnes and noble coupon codecrestor couponscrestor coupons walgreens finax brillengestelle online kaufenfinax online legally non how much does generic zoloft cost without insurance costco pharmacy prices singulair coupons nolvadex viagra fast delivery haldol medication price how much does bentyl cost without insurance elimite aarp medicarerx saver plus approved pharmacies accutane phentermine without doctors prescription glucophage fedex next day delivery serophene walgreens viagra cost per pill zoloft reviews forum finax loestrin 24 fe generic brand allopurinol list of medicare approved pharmacies buy shatavari buy marijuana online legally cleocin shipped how to call australia from united states global health management citalopram dosageglobal health management clarina methotrexate prescriptionsmethotrexate price what does valtrex treat tesco endepth sarafem k cups cheapest price aygestin bacon shortage erexin-v tablets canadian meijer pharmacy global health management tricorbraun pfizer norvasc amlodipine besylate buy viagra extra dosage buy viagra online with mastercard discount what is celadrin buy lipitor order tramadol with mastercard zocor canadian kroger pharmacy 3 day ship penegra tablet aldactone shipping boxes buy viagra professional 100 mg lamisil amazon coupon code can i buy cardizem srcan i buy cardura plendil low cost vet clinicplendil lowest priceplendil mail order keppra how much does a flu shot cost at walgreens buy tadacip pay with echeck cost of ventolin inhaler at walmart best site to purchase dapoxetine fda where to buy saw palmetto philippines order hyzaar free people search by phone number cialis sublingual pharmacy rx one review viagra aciphex shipped moving to israel from united states buying malegra dxt plusbuying malegra fxtbuying maxalt keftab federal express delivery service cialis montreal pharmacie en ligne dulcolax dosage doctor buy silagra paypal payments pro buy brand viagra amazon paypal payments buy promethazine buy xanax online legally vytorin metanx generic fda approved biaxin original chexbiaxin overnight minocycline staples canada onlineminocycline canadian pharmacy real zovirax used books for sale online levlen ed without prescriptionlevlen without subscription can you take too much cleocin 2%can you take too much clomid diflucan us airways mastercard keppra how much does viagra cost at walgreens order diflucan online without prescriptiondiflucan without subscription mobic tramadol next day delivery amoxil nexium over the counter sample canadian trazodone withdrawal buy tadalis sx buy cigarettes online with echeckbuy tadalis sx with mastercard global health management tamoxifen weight allopurinol usps overnight delivery can you order luvox cr diakof stendra cost per pill lady era maid of the mist canada side viagra jelly buy vicodin online legally viramune cialis online purchase bentyl montreal canadiens vasotec paypal prepaid no perscription need amaryl fastrak mentat ds syrup uk online visa application cost of diltiazem having a baby without insurance tetracycline price fixing buy cheap pfizer periactin syrup can you take too much prinivil side haldol mega millions online purchase aceon playstation 4 prices walmart diclofenac sodium 75mg price cholestoplex shipped how to call australia from united states buy biaxin ordained minister online legally micardis mail order prescriptions decadron dosage for brain tumor glucotrol xl how to receive money through "pay pal"glucotrol xl with no rxglucotrol xl without a doctorglucotrol xl without a doctors approval buy liquid bactrim online ophthacare indian online visa application form buy maxalt where to buy tramadol online with mastercard viagra lawsuit melanoma buy finpecia how to send money with american express buy cefadroxil buy viagra online with mastercard how to get prevacid for free arimidex sears mastercard cefadroxil remington 223 rifle for sale at usa malegra dxt loestrin 24 fe generic brand can i buy femcare ob renagel iphone 5 cheapest price tesco sominex side viagra leg cramp medication at walmart online purchase ? finpecia dramamine maid of the mist canada best site to purchase risperdal medication buy strattera weight gain pills supplements hytrin shipped going to canada from united stateshytrin shipping

Like Shoot to Thrill - An AC/DC Tribute on Facebook!

An authentic tribute of AC/DC that covers the best of the Bon Scott era and the best of Brian Johnson's material

Who's Online?

We have 1095 guests online

Atom RSS

Interview - Andrew Zimbalist - Sports Economist PDF Print E-mail
User Rating: / 2
The Biz of Baseball - Interviews
Written by Maury Brown   
Sunday, 08 August 2004 12:00

Andrew ZimbalistWhen the discussion of the economics of baseball are discussed in the media and beyond, most often you'll find Andrew Zimbalist in the mix.

This interview covers the debate over the public subsidy of stadium development, to territorial rights, especially as it pertains to the Baltimore/Washington, D.C. area, to the current revenue sharing system, plus more, Zimbalist covers all the bases.

The numbers are staggering.

Since 1992, when Bud Selig took over as Commissioner of Baseball, there have been 15 new or renovated ballparks. In the case of the new ballparks, all have had some form of public subsidy involved, totaling well in excess of a billion dollars when all is said and done and leases are fulfilled. This new stadium development is touted by MLB as being a panacea towards overall franchise success, regardless of the fact that many see franchise sustainability being coupled, in large part, to wins and losses as well.

With this large volume of stadia development has been the constant struggle to try to quantify the economic impacts of ballpark development within local, state and regional domains, and one of the most visible economists to speak to this current environment has been Andrew Zimbalist.

Zimbalist serves as Robert A. Woods Professor of Economics at Smith College and his resume is  peppered with consultation as it pertains to baseball. To Wendell, Chritton & Parks in the Florida State League/Florida Marlins arbitration case, to the Major League Baseball Players' Association in collective bargaining, to ABRY Communications in a baseball broadcasting suit, to the United Baseball League, to Krendl, Horowitz and Krendl in Ehrhardt v. Colorado Rockies, to the Portland Oregon Mayor's Commission on bringing another professional sports team to the city, the list is far too long to mention in this space.

To add to this, Andrew has several outstanding books on the economics of baseball. "Baseball and Billions: A Probing Look Inside the Big Business of Our National Pastime", and "May the Best Team Win: Baseball Economics and Public Policy" can be found on the desks of those ranging from politicians, to fellow economists, to baseball researchers.

The following interview covers several areas, from the economics of new stadium development, to the shifting of discretionary income as it pertains to this development, to the territorial claims by Orioles owner Peter Angelos regarding the possible relocation of the Montreal Expos to Washington, D.C., and possible ramifications to further relocation or expansion, to the overall health of small to mid-tiered markets under the current revenue sharing plan. Enjoy! - Maury Brown

BizBall: You’ve been following the economics of baseball for some time now. What has been the biggest fundamental change in how MLB conducts business over the last 10-20 years?

I would think that the biggest change has been the introduction of its revenue sharing system in 1996 and the extension of that system in 2002. Prior to that system the only thing that got shared in baseball was gate revenue. And in the American League they shared about 20% of gate revenue, and the National League about 5% of gate revenue. There was a program that they introduced in the 80’s to do some sharing in the American League of pay cable back then, but basically it amounted to just about nothing. So fundamentally out of all the revenue that got generated they only had either the 20% [shared] in the American League and roughly 5% in the National League; nothing else was shared.

And then when local television contracts really began to take off -- the Yankee contract that was signed with MSG back in 1988 was a 12 year contract worth $493 million over the period -- you had the emergence of TBS with the Braves and WGN with the Cubs, and the Mets had a big contract, the Red Sox got a big contract, baseball’s revenues became very sharply imbalanced.

And, the other thing that’s happening of course in the early 90’s is the introduction of the new stadiums, beginning with Camden Yards, or some people might want to date it to a year earlier in 1991 with the new White Sox stadium. But the retro-set architecture stadiums begins with ‘92 Camden Yards. Those stadiums for many teams ended up generating an extra $30 million a year for the team, so that together with the local television contracts and no revenue sharing meant that the revenue disparities between top and the bottom teams, which were actually no greater than $30 million back in 1989, all of the sudden exploded, so that by the end of the 90’s those disparities are up over $200 million. Or around $200 million, let’s say.

And in this context baseball introduced the revenue sharing system. I think it’s a really major change. It required a shift in political alignments, to get the big city teams to go along with that, to get Steinbrenner to go along with that, O’Malley at the time still owned the Dodgers, to get him to go along with it in ’96, to get the Chicago teams to go along with it, the Tribune Corporation, was a major political accomplishment. And they began sharing revenues, so I think that’s the big number, and of course as I’ve said elsewhere the system doesn’t work as well as it ought to because the incentives that are built into it are perverse, they’re backwards, they actually assess a higher marginal tax rate on low revenue teams than on high revenue teams. It therefore in my view has not done what it is supposed to do, which is to equalize payrolls.

BizBall: A common claim among economists is that spending on sports simply shifts spending from other entertainment options (movies, etc.). This theory assumes that most individuals have a finite amount of discretionary income to spend on entertainment. Some might argue that a high percentage of Americans have enough discretionary income to choose to attend most of the entertainment events that they would like to attend. If season ticket holders of an MLB team suddenly lost their franchise, would it follow that each season ticket holder would add 81 nights of other entertainment activities annually to their life?

Zimbalist: [laughter] Well, first of all, I don’t think that season ticket holders go to all 81 games. Most of them don’t, anyway; I think they end up sharing their ticket, or giving away their ticket to some other people, at least for some of the games. But no, I don’t think it follows that way, and look, I don’t think the proper argument is that there is a 1-to-1 trade off here. The argument is simply that for most people who go to ballgames they have a finite amount of discretionary income and there is a substitution effect working, but again, it’s not a 1-to-1 effect, maybe it effects 80% or 90% of the money that would otherwise get spent at the ballpark.
And it certainly is not the only basis for the argument that there is no positive economic impulse or developmental impulse from having a new stadium or a new team in your town.

One of the reasons is the substitution effect, but another very important reason is the leakage effect. Which is to say that if money gets spent at a ballpark, something like 60% of it on average goes to players, who have an average income of $2.4 million, and when money goes to those players, and most players don’t live in the town where their team is anyway, then the money leaks out, because a millionaire has a very high savings rate, much higher savings rate than somebody with ordinary income, thirty or forty thousand dollars, and that money they save goes into the world money markets, it doesn’t get spent at the local cities, and even more that’s true because the player doesn’t live in the city, so his permanent home is elsewhere, or if he has family elsewhere, a lot of the money gets sent back to the family.

And, also players are encouraged, and most of them follow the encouragement or the advice, they’re encouraged to save a lot because their life in baseball and their lifetime earning the mega-salaries is a very short one.

It’s not like what happens to me, an economics professor. I got into the business of being an economics professor when I was 25 years old and I could do that for decades, but for professional baseball players if you’re lucky you play 5 to 10 years and you don’t earn the mega-salaries your whole life. So, they’re encouraged to save a lot of money, and again the pattern is for the money to go into the world money markets and not to be spent in the local cities. So, there are leakages. And, of course, a lot of money goes to the owners and the owners have a similar pattern to the players, and those leakages are much higher than if the entertainment dollar gets spent at the bowling alley or restaurants, where the money ultimately goes to entrepreneurs who have a much more normal income, and who live in the local towns. So, very high leakages are another factor here. And, another factor still is that ballparks these days get financed with hundreds of millions of dollars of local tax money and if taxes go up then it means that that money is not being spent by consumers in other areas of the local economy. Either that or the city might rig -- I guess I’m not sure about this --either the services, and either higher taxes or lower services doesn’t help the local economy. So, if you put all of those effects together, the empirical research suggests that the expectation should not be that you get an increase in employment or an increase in per capita income.

BizBall: What about in cases where there are personal income taxes in some states? Wouldn’t there be money collected from the players and management in that framework?

Zimbalist: Yeah, there would be, but again the evidence is that the amount of expenditure that goes out of the public coffers in order to finance the debt service that they have to incur to build the stadium, or to improve the infrastructure, or both of those things, the amount of outflow is greater than the amount of inflow.

BizBall: Along the same lines, in the case of several cities, and possibly some new locations should relocation or expansion be considered, there are cities that border other states. Is there a case to be made that monies from bordering states cross over into these locales and therefore help the economies of these host cities via tourism?

Zimbalist: Yeah, sure, and in fact I made that case in part with the New York Nets leaving New Jersey and going into New York, in this case Brooklyn. So it can happen.

There are possibilities for, in essence, cannibalizing revenue across state lines.

And if what you’re interested in is the fiscal situation of a government on one side of the state line as opposed to the other side of the state line, yeah, there can be a shift in that way. It doesn’t end up producing a tremendous amount of difference, but there can be a small gain as a result of that.

It’s a different argument than an argument for regional development, though, because in terms of the overall metropolitan area the money is still in that area. But it might very well cross a political boundary and help one side of the boundary to the detriment to the other side.

BizBall: How much of the financial forecasting that MLB presents to the press and government do you feel is done to leverage the public in terms of stadium development and for collective bargaining purposes?

Zimbalist: Some of it. I tend to believe that those are not the main motivations today. Of course historically the other factor has been to hold on to the anti-trust exemption, or the  presumed anti-trust exemption, when they testify to Congress. But more recently I think the strongest motivation that teams have to color their financial picture is to avoid revenue sharing. That is to say, if you can push your revenue off your baseball books onto your media books or onto your stadium books, or some other, as in the case of the Chicago Cubs onto their premium ticket company, then you can avoid some of baseball’s revenue sharing taxes. So I think there are a variety of motivations to do that, but it’s hard to believe in this day and age that Don Fehr or Gene Orza or Mike Weiner are very misled by claims of penury that either Selig issues for all baseball or individual teams issue. Because they’ve been down that road and they know the game pretty well.

BizBall: On that note about dispersal of revenues, the Yankees and Red Sox have been talking about doing a merger of TV packages. Do you think this continues to blur the line for revenue sharing purposes?

Zimbalist: Well, first of all, that story is simply the product of our idiotic media. There’s no truth to that story.

BizBall: Could you elaborate?

Zimbalist: I mean, look, what happens in a situation like that is that there are two people who are having a conversation over a drink who are connected to either the Yankees or the Red Sox, and there’s a third person there, and this person happens to hear one of them who sort of throws out this idea that they might bat around for thirty seconds or something. So that third person then calls up his friend who’s a journalist and the journalist wants to break the story so he goes out and writes the story. But I don’t think there’s any factual basis to the story. I’ve spoken to owners on both sides and they disclaim any such notions and even if you just look at it logically it’s absurd.

Number one, baseball has television territories that it would violate, and they’d have to get MLB’s permission. Number two, they’d be inviting anti-trust scrutiny from the Justice Department if they tried to combine forces and get more leverage in the cable television market. Number three, any synergies they might get that would increase their revenues would then have to be shared between the two teams. Number four, the Yankees and the Red Sox play at similar times during the day, or at the same time during the day, very often, and they have competing claims on the time.

There’s just an infinite number of complications. And number five, and perhaps most importantly, the Yankees and the Red Sox have gone out of their way to develop a classic baseball rivalry, and if they start jumping into television bed together it totally undermines the perception of that rivalry. And quite apart from personality differences that might make it a complicated thing to do, I don’t think it ever made any sense, and it’s just one journalist trying to get a jump on a story based on a silly rumor.

BizBall: Peter Angelos has made quite a lot of noise about fan attendance and cable share being diluted for the Orioles should the Montreal Expos relocate to DC or Northern VA. Do you subscribe to those arguments?

Zimbalist: Well, I think he’s correct that there would be some dilution in his television ratings and some dilution in his attendance. Whether the reductions would be 5%, 10%, or 15% in each case, I don’t know. I don’t think it would be more than 15%. But basically I would say to him, “Tough noogies.” You’ve got two substantial media markets there and  you can host two teams in those markets. I mean, you might as well have Jerry Reinsdorf come along and say, “Hey, the Cubs dilute my revenues.” And that would be true, too. So Reinsdorf might as well go to Major League Baseball and petition Bud Selig, and say, “Hey, Bud, you’re my friend. I’ve supported you. The Tribune Company really isn’t your friend. Why don’t we just eliminate the Chicago Cubs?” And to me, logically, there’s not too much difference in those two arguments. Politically it might be a little different, of course, because it’s harder to eliminate a team that’s been around for time immemorial than it is to create a new team into a market.

But, D.C. used to have a team. In fact, they used to have two different teams, and I think it’s a premier market and they ought to have a team. And whether or not Angelos ends up effecting Selig in the ultimate decision by baseball, I don’t know, but certainly I don’t think that he should.

BizBall: Buried deep within the wording of a bill before congress is verbiage that would allow sports franchises the same ability of other business to write off 100% percent of their intangible assets, such as TV revenues, on an evenly divided basis over 15 years, as opposed to the current system which only allows for half of the assets. Beyond the huge windfall for sports owners for long-term investment, is this simply a case of having all businesses treated equally?

Zimbalist: No, it’s not.

First of all, you can’t amortize goodwill; that rule has changed, so businesses don’t get to amortize or depreciate all of their assets. Secondly, look, they might go for public relations purposes and say that this is to treat sports franchises the same as other businesses but the fact of the matter is that sports franchises, which might be valued depending on the league and the team anywhere from $100 million to $1 billion, don’t have many hard assets to establish that value. The main thing that a sports franchise has is a berth in a monopoly sports league which you could call goodwill, you could call it a going concern, and if you want you can somewhat falsely attribute it to television or other media contracts.

The IRS has always historically said that television contracts are non-depreciating assets or non-amortizing assets. They are always renewed. In other words, if I buy a car, it depreciates each year, it gets a little less valuable each year, that’s a physical deterioration that happens. But if I buy a baseball team and the baseball team buys a local television contract, if you go back and look at the historical records, when that contract is over there’s always a new one! And historically it’s always been a larger one. But whether it’s larger or not, the value is pretty much ongoing. Now in some cases something might happen that’s unanticipated, and then you might have an impairment of the asset, and they ought to be able to account for an impairment of assets, but generally speaking, baseball teams and other sports teams, almost all of their value is intangible.

In contrast, if you look at a manufacturing company, most of their value is tangible. They’ve got machinery, they’ve got technology, they’ve got patents, and so on. And therefore if you allow them to amortize some of their intangible assets, it’s going to be a minority of their  overall asset value. But if you allow a sports team to amortize the intangibles, you’re basically allowing them to amortize the whole thing. So it’s different for sports than for other businesses.

And to me the more fundamental question is, what is the theoretical basis for saying there’s any depreciation at all in the tangible assets? And I don’t think there is one. And so I see it as an improper give away, and I see it as once again as kind of absurd politicking wherein you have special interests who get politicians whom they donate money to to stick it onto a bill that has nothing to do with the operation of sports franchises.

BizBall: From an economic perspective, is MLB going to be able to have sustainable and healthy franchises in existing smaller markets, and how does this impact possible relocation of franchises and/or expansion?

Zimbalist: Well, it all depends on the economic system that baseball has. If baseball has a sound revenue sharing system they can put teams in smaller markets. But it also depends in part on what you mean by smaller market. Is Portland, Oregon a smaller market because it has fewer than three million people? Well, I don’t think so. It seems to me that Portland, Oregon is perfectly capable of hosting a sports team in a league that’s properly designed. And Portland is a town that has been experiencing very good population growth and looking down the road they ought to be able to have a baseball team. As should some other cities. I guess you could argue that Nintendo should make the same argument that Angelos does: “My goodness, if you put a team in Portland there’ll be some dilution in our fanbase!” And that’s true. They’ll be some. But whether it’s 2%, 4%, or 5%, or 6%, who knows? But also, who cares? Because the people of Portland deserve a baseball team just as much as the people of Seattle do.

BizBall: I think they’re hand-wringing over this situation because it really does open up and set precedent if they pay off Angelos when he doesn’t have territorial rights to D.C. And it opens up a can of worms, like you’re saying with Howard Lincoln and Nintendo, Seattle and Portland, even though it’s 175 miles away they deem this a territorial market from a regional cable perspective and radio broadcast perspective.

Zimbalist: Look, I’ll tell you what, you have two territories for a baseball team. One is the physical territory; it used to be determined by 75 miles, now it’s defined in terms of counties.

And then you have another market--that’s the television market--that is much broader. And in fact the television markets span territories so that they bump up against each other. And therefore, they cover the whole country.

And so there’s no reason why Major League Baseball would not allocate like the whole state of Arkansas to a team, like the Houston Astros, for instance. They wouldn’t say, “Oh well, you know, it’s more than X number of miles from your ballpark and therefore you can’t have it.” No, they’re not going to leave the potential fans in Arkansas without access on local cable to watching a team.

So what they do is allocate: television markets are allocated to everybody in the United States. Therefore, whenever you contemplate adding a team you’d be interfering with somebody’s television market. And if you held that argument as decisive that, “Oh, you’re taking away part of this guy’s television market,” then you’d never be able to have expansion. Not now and not in forty years. Even when the U.S. population might be 350 million instead of 290 million. So that argument can’t possibly be a conclusive argument in my view.

BizBall: How much of the current growth in MLB is attributed to the recent honeymoon effect of new stadium development and do you see a trend in which there will be repercussions when these honeymoon periods fade?

Zimbalist: The honeymoon effect is very short-lived unless the owner is smart enough to take advantage of it.

A new stadium gives the owner an opportunity to get more revenue out of his players, and if his players generate more revenue they should be paid more. And so the smart owner says, I’m going to take advantage of my new stadium by increasing my payroll and putting a better team on the field, and getting my fans really excited. If the owner does that you can get a honeymoon effect that lasts five, six, seven, eight years.

If the owner doesn’t do that, then there’s a curiosity effect that can last two or three months, after which the fans get ticked off that the owner isn’t doing anything to improve the team. So honeymoon effects are very differential. It depends on the strengths and acumen of ownership.

That said, yes, of course, baseball has had a building renaissance, since 1991, and that renaissance has, although some teams more than others, that renaissance has generally raised attendance appreciably. And as the newness of some of these stadiums fades into the past, they won’t have that factor to boost attendance anymore. So other things being equal, yeah, that would make attendance drop a little bit.

BizBall: In your book, May the Best Team Win, you talk about how the Yankees have incentives to increase their stadium expenses, new stadia development, and a number of other areas. The last Chapter is entitled, “What is to be done?” Can you touch on this facet of the book, and tell us if any of the points within that chapter have changed since publication?

Zimbalist: You mean things that I would recommend?

BizBall: Yes.

Zimbalist: Well, I wrote that book at a time when baseball was talking about contracting by two or four teams. And I believe that as long as baseball maintains that posture, especially after a period where its revenues have been growing by 15-16% per year, that the U.S. Congress ought to go after baseball and say, “We’ve had enough. Your demand is increasing by 15% a year. If you want to reduce your output, we’re going to force you guys to have competition so that we can have an appropriate level of output.” Meaning more baseball teams rather than less baseball teams when demand is growing at 15% a year.

That’s what I believe.

And I believe in general that it would better serve U.S. fans, U.S. consumers, to have more competition in the baseball industry. But I don’t believe, at this point in time, that it’s in the cards, because baseball isn’t talking about contraction anymore, and therefore it makes more sense when talking about policy to focus on more realistic policy options.

And for me the most important thing for baseball to do is to get their revenue sharing system right. Because this year they’re going to be sharing about $280 million, top teams to the bottom teams, and it’s not going to do anything, in my view, to improve competitive balance. Because the bottom teams face this higher tax rate than the top teams. And payroll disparity has actually grown since 2002 when this new revenue sharing system was introduced.

So, I think they need to get their incentives right.

Right now the way the incentive system works in the revenue sharing system is that successful teams get penalized, and poorly performing teams are rewarded. Failure is rewarded and success is penalized. And I think you need to have a revenue sharing system that does the opposite, where teams are motivated to improve themselves. And so that would be the first thing that I would change.

Second thing that I would change, although I recognize that Bud Selig has done some good things, I don’t think baseball’s commissioner should be an owner. And I think that Selig’s  botched a lot of stuff. And so I think they need to replace Selig. I don’t think that they will, but I think they need to replace Selig, get some independent, intelligent, outside businessperson who knows a great deal about baseball, and leads the sport in a way that doesn’t suggest that there’s any conflict of interest, or that there’s any inability on the part of the commissioner to act in the best interests of baseball rather than the best interests of a coterie of owners.

BizBall: I understand that you have another book slated to be published. Can you tell us about it?

Zimbalist: Very briefly, I’m writing a book with Stefan Szymanski, who’s a British sports economist. What we’re doing is looking at the evolution of basically soccer leagues and the evolution of baseball and other closed leagues in the United States. Soccer Leagues in Europe and throughout the rest of the world are organized on an open basis and systems of promotion and relegation, where the top teams in the league get promoted to a higher level league, and the bottom teams in the league get demoted or relegated to a lower level league.

That system creates a very different pattern of incentives and fan responses than the closed system that we have in the United States, closed meaning that the existing owners determine if there will be expansion, and if there is expansion, who gets to own a team. And that creates a system of leverage and monopoly that gives teams an ability to extort large public subsidies and deprives fans in many cities of getting to have a professional team, when they warrant one, given the economic size of the city.

So, these are very, very different ways of organizing sports leagues, and they generate very different kinds of tensions and problems, and have different kinds of successes.

So what we're trying to do in the book is to explain how the systems are different, explain why they evolved the way that they did, looking at economic and political and cultural factors.

And then, finally, trying to figure out where the systems are heading, and whether the two systems can learn anything from each other.

The following interview was originally published on the SABR Business of Baseball website, and can be read here: SABR Business of Baseball Interviews Page

Interview conducted by Maury Brown on 8/9/04. Edited by Jeff Sackmann.



Should MLB Force Jeffery Loria to Sell the Marlins?