Rudy Giuliani "has been seen on the campaign trail wearing a World Series ring, a valuable prize we never knew he had," reports the Village Voice. Indeed, the New York Yankees "have told Voice that he has four rings, one for every world championship the Yankees won while he was mayor... If it sounds innocent, wait for the price tag. These are certainly no Canal Street cubic zirconia knockoffs."
"With Giuliani's name inscribed in the 1996, 1998, 1999, and 2000 diamond-and-gold rings, memorabilia and baseball experts say they are collectively worth a minimum of $200,000. The Yankees say that Giuliani did pay for his rings -- but only $16,000, and years after he had left office. Anyone paying for the rings is as unusual as a mayor getting one, since neither the Yankees nor any other recent champion have sold rings to virtually anyone. The meager payment, however, is less than half of the replacement value of the rings, and that's a fraction of the market price, especially with the added value of Giuliani's name."
"What's more troubling is that Giuliani's receipt of the rings may be a serious breach of the law, and one that could still be prosecuted. New York officials are barred from taking a gift of greater than $50 value from anyone doing business with the city, and under Giuliani, that statute was enforced aggressively against others."
May 10, 2007
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