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Cubs Rumors

Cubs Claim Edgar Olmos

By Jeff Todd | December 23, 2015 at 1:35pm CDT

The Cubs have claimed lefty Edgar Olmos from the Orioles, Roch Kubatko of MASNsports.com tweets. Baltimore exposed Olmos to waivers to clear roster space for the signing of Hyun Soo Kim, and Chicago grabbed him back after originally losing him just weeks ago to the O’s by the same procedure.

Olmos is a 25-year-old southpaw who’s changed hands quite a bit in the last few seasons. He obviously has an intriguing arm, and has shown a mid-90s fastball in his brief time in the majors. At Triple-A in 2015, Olmos worked to a 3.55 ERA with 9.3 K/9 against 3.5 BB/9 at Triple-A last year.

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Baltimore Orioles Chicago Cubs Transactions Edgar Olmos

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Cubs To Sign Brandon Gomes

By Jeff Todd | December 23, 2015 at 12:33pm CDT

Among the players signing minor league deals with the Cubs was righty Brandon Gomes, according to Matt Eddy of Baseball America (Twitter links). He’ll join the pen competition with another recently-added righty, Jean Machi.

Gomes, 31, threw 59 frames for the Rays last year, posting a 4.27 ERA with 6.7 K/9 against 2.3 BB/9. He has thrown 167 total innings over the last five years in Tampa Bay, finding some success at times. But Gomes has been limited by a tendency to serve up the long ball.

Among the other arms heading to the Chicago organization this spring are righty Stephen Fife and southpaws Scott Barnes and Luis Cruz. Fife missed all of 2015 with Tommy John surgery but recently had a nice, 13-start showing in Venezuela. Barnes pitched in the Blue Jays organization last year and hasn’t cracked the majors since 2013. And Cruz, 25, lost his 40-man spot with the Astros this fall after throwing 116 innings of 4.27 ERA ball at Triple-A last year, with 7.2 K/9 against 4.0 BB/9.

Finally, the Cubs inked outfielders Juan Perez and Kelly Dugan. Perez has seen action as a reserve with the Giants over the past three years, compiling a .224/.267/.316 slash in 246 total plate appearances. The 25-year-old Dugan had previously spent his entire career in the Phillies organization. He struggled in his first taste of Triple-A last year.

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Chicago Cubs Tampa Bay Rays Transactions Brandon Gomes Kelly Dugan Luis Cruz Scott Barnes

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Quick Hits: Soler, Lucroy, Swanson, Chen

By Mark Polishuk | December 21, 2015 at 12:04am CDT

In a radio interview on The 670 Score’s “Inside The Clubhouse” show, Theo Epstein said the Cubs are committed to Jorge Soler as a big part of their roster, CBS Chicago’s Bruce Levine reports.  “We are putting our stock into his future,” Epstein said.  “Barring anything [an overwhelming trade offer], he knows to ignore all the trade rumors and take it as a compliment.”  Epstein praised Soler’s hitting potential and his offseason training, as Soler “is down to 225 [pounds] and is working hard on his quickness and flexibility” to improve his right field defense.  The Cubs could add a defense-first backup outfielder, Epstein hinted, which probably isn’t a surprise given Soler’s inexperience and the questions about whether or not Kyle Schwarber can handle left field.  Here’s some more from around baseball…

  • The Brewers don’t want to sell low on Jonathan Lucroy in the wake of his underwhelming 2015 season, though they could be taking a risk by waiting to make a trade, Fangraphs’ Jeff Sullivan writes in a piece for FOX Sports.  If Lucroy’s concussion and injury history continues to diminish his ability, Milwaukee will have missed its window to recoup significant value for the former All-Star.  Midseason deals for catchers are also somewhat uncommon, as it’s somewhat hard for a new catcher to instantly develop a rapport with pitchers.
  • The Braves targeted Dansby Swanson even before they created room at short by dealing Andrelton Simmons, GM John Coppolella tells Fangraphs’ David Laurila.  “We’ve been in talks with Arizona since the end of the 2015 season,” Coppolella said. “We hoped to get Swanson, but we didn’t know if, or how, the deal would materialize. We saw him as a fit for us, whether we made the Simmons trade or not. We just want really good players and he’s a really good player.”
  • Wei-Yin Chen may have the most value of any remaining free agent pitcher, MLB.com’s Mike Petriello writes, as he has posted comparable numbers to Jeff Samardzija or Jordan Zimmermann and probably won’t cost as much.  Of course, Chen and his agent Scott Boras are looking for healthy compensation for the southpaw’s services in the form of a five-year, $100MM contract.
  • While opt-out clauses are usually considered to provide little benefit to a team, the Boston Herald’s Scott Lauber notes that there’s certainly upside if a club can avoid paying big money to a player outside of his prime years.  For instance, Lauber reports that had the Red Sox been successful in obtaining Alex Rodriguez from the Rangers in the 2003-04 offseason, they had no intention of re-signing him after he opted out of his deal (as expected) after the 2007 season.  The Yankees, who did deal for A-Rod and then re-signed him to a whopping 10-year, $275MM contract after 2007, have surely regretted not letting Rodriguez walk when they had the chance.
  • Blue Jays director of analytics Joe Sheehan is profiled by the Toronto Star’s Brendan Kennedy, who notes that Sheehan’s promotion to the newly-created position is a sign of the team’s increased focus on analytics under Mark Shapiro.
  • The Giants are the most likely team to sign Yoenis Cespedes, MLB.com’s Jim Duquette opines.  The Tigers, Orioles, White Sox and Angels round out Duquette’s list of Cespedes’ most likely landing spots.
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Arizona Diamondbacks Atlanta Braves Boston Red Sox Chicago Cubs Milwaukee Brewers Toronto Blue Jays Alex Rodriguez Dansby Swanson Jonathan Lucroy Jorge Soler Theo Epstein Wei-Yin Chen Yoenis Cespedes

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NL Central Notes: Heyward, Cubs, Cardinals, McCutchen

By charliewilmoth | December 20, 2015 at 3:21pm CDT

Jason Heyward says one reason he chose the Cubs over the Cardinals is that the Cubs’ young core is likely to be with the team longer than the Cardinals’ core is. “You have Yadier (Molina), who is going to be done in two years maybe. You have Matt Holliday, who is probably going to be done soon,” Heyward told reporters, including Paul Sullivan of the Chicago Tribune. “I felt like if I was to look up in three years and see a completely different team, that would kind of be difficult.” Cardinals manager Mike Matheny says he believes in the core of his team and takes issue with Heyward’s comments, Rick Hummel of the St. Louis Post-Dispatch reports. “I don’t blame him. But I don’t like it,” says Matheny. “I don’t think we have anything to apologize for in having a group like a Holliday, a Molina, a Wainwright. … [H]e’s a young player. But I can’t say I’m in any kind of agreement with that (Chicago) core being better than any kind of core that we have.” Here’s more from the NL Central.

  • Elsewhere in Hummel’s article, Cards GM John Mozeliak expresses a bit of frustration that the Cardinals’ biggest offseason targets — presumably players like Heyward and David Price — opted to head elsewhere. “Our success has really come from our pipeline, and I think we’re really going to lean on that. The last month has been trying to play in the big-boy pool, and unfortunately we just didn’t end up getting it done,” says Mozeliak. “Sometimes it’s not always about what you’re doing. You need the other party to want to be there, too.”
  • Jason Heyward’s mammoth deal with the Cubs got some reporters, including Bill Brink of the Pittsburgh Post-Gazette, wondering how much it might cost a club to sign Pirates outfielder Andrew McCutchen if he reaches the open market after the 2018 season.  For his part, McCutchen doesn’t want to speculate on his own dollar value, but he did reaffirm his loyalty to Pittsburgh. “This is still a place I do want to be,” McCutchen said. “I love it here. If that’s something that they can do, that’s something they can do. I really can’t answer from their end. We’ll see what happens in the future.”  Of course, as Brink points out, Heyward in 2015 and McCutchen in 2018 are two separate cases.  Heyward got his monster contract, in part, because he is only 26 years of age.  Following the 2018 season, McCutchen will be 32.

Zach Links contributed to this post.

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Cafardo On Victorino, Cahill, Cubs

By Zachary Links | December 20, 2015 at 10:15am CDT

In today’s column, Nick Cafardo of the Boston Globe spoke with managing general partner of Sapient Global Markets Dave Donovan, who is trying to apply banking principles to baseball in order to help limit risk on the part of teams.

“Because there’s such an emphasis by teams on acquiring the right players, especially now where you have financial constraints with luxury taxes, etc., we’re looking at it the same way as we do with banks,” Donovan said. “Banks want to make as much money as they possibly can. Their constraint is regulation. They have stress tests they have to do for the government after banks almost took down the world because they weren’t financially compliant. We’ve been working with these banks to measure their risks and you can apply the same concepts in sports…Your roster is no different than a portfolio of securities. Those are your assets. That’s what you’ve put your investment in, so it only makes sense that you should monitor your assets”

When considering risk management, Cafardo wonders aloud if the Red Sox’s decision to sign David Price to a seven-year, $217MM was a prudent one.  Cafardo speculates that the hedge fund operator in owner John Henry probably wasn’t thrilled about the move.  However, in the short-term, he knew that Boston needed an ace pitcher.

Here’s more from today’s column:

  • Shane Victorino’s agent, John Boggs, said a couple of teams have shown interest in his client, but no deal is imminent at this time.  Boggs added that the veteran is looking to sign a one-year deal in order to re-establish his value.  The Flyin’ Hawaiian hit just .230/.308/.292 in 2015 in 204 combined plate appearances for the Red Sox and Angels.  Still, he’s only two years removed from his 2013 campaign in which he slashed .294/.351/.451 with 15 homers for Boston.  Victorino, who plans on getting back to switch-hitting, celebrated his 35th birthday in late November.
  • Right-hander Trevor Cahill had an opportunity to sign with the Pirates or Orioles as a starting pitcher, Cafardo writes.  However, he opted to stay with the Cubs where he will be used in a relief role.  Cahill’s clear preference was to start again, but he also didn’t want to leave Chicago.  Cahill gave the Cubs 17 brilliant innings of relief down the stretch, yielding just four runs and recording an outstanding 22-to-5 K/BB ratio to go along with a ground-ball rate of 61.8 percent. He also pitched 5 1/3 innings in the postseason, allowing two runs on seven hits and no walks with eight strikeouts (3.38 ERA).
  • Ron Gardenhire lost out on the Padres’ job but “the feeling” is that he could always go back to the Twins organization and work in some capacity.  However, Gardenhire’s preference would be to manage for a major league team again.  Gardenhire has extensive postseason experience from his time with the Twins, having led the club to six AL Central Division titles in 13 seasons and also bringing the team to a Game 163 tiebreaker that was lost to the White Sox in 2008. However he also has a disappointing 6-21 record in the playoffs, having only captured one series victory (against the A’s in 2002).
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Baltimore Orioles Boston Red Sox Chicago Cubs Minnesota Twins Pittsburgh Pirates Ron Gardenhire Shane Victorino Trevor Cahill

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Cubs Designate Yoervis Medina For Assignment

By Steve Adams | December 17, 2015 at 4:57pm CDT

The Cubs announced on Thursday that they have designated right-hander Yoervis Medina for assignment. Medina’s roster spot will go to infielder Brendan Ryan, who has now officially been acquired as the player to be named later in last week’s Starlin Castro/Adam Warren trade.

Chicago acquired the now 27-year-old Medina from the Mariners in a May trade that sent Welington Castillo to Seattle. Medina had enjoyed strong results in Seattle from 2013-14, pitching to a combined 2.81 ERA with 9.4 K/9, 4.9 BB/9 and a 53.5 percent ground-ball rate before taking a significant step backwards in 2015. This season, Medina logged a 4.71 ERA with an unsightly 16-to-11 K/BB ratio in 21 innings for the Mariners and Cubs. Notably, his fastball velocity, which had averaged 94.8 mph in 2014, sat a full two miles per hour lower at 92.8 in 2015, and his ground-ball rate dipped to 36.8 percent.

Medina’s struggles weren’t confined to the Major Leagues, either. He also recorded 40 innings of Triple-A work between the two teams but limped to a 5.62 ERA with 8.8 K/9 against 5.0 BB/9. Those numbers, clearly, represent a significant departure from his best work at the upper levels of the minors and in the Majors. If there’s no health issue at play — though his diminished velocity certainly stands out as cause for concern — another club may look at him as a low-risk option with four years of club control remaining and hope that he can rediscover the form he displayed in 2013-14. ERA estimators like FIP, xFIP and SIERA were never sold on Medina as a sub-3.00 ERA arm, but all felt that he could hold down a mark somewhere in the mid-3.00 range given his blend of missed bats and grounders.

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Chicago Cubs Transactions Brendan Ryan Yoervis Medina

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Cubs Notes: Price, Bullpen, Heyward

By Zachary Links | December 17, 2015 at 9:43am CDT

The Cubs made a run at David Price this winter, but they weren’t necessarily close to landing him.  Chicago fell roughly $50MM short of the Red Sox’s offer, Cubs president of baseball operations Theo Epstein told WEEI this week.  “We ended up a distant third,” Epstein said.

“He’s a great pitcher and we were involved and very interested,” said Epstein, who was apparently also behind the Cardinals in the Price sweepstakes. “We thought, he’s an elite, elite pitcher, the kind that very rarely makes it to the free agent market, he’s got terrific makeup, where he influences a team not just through his performance on the field, but he’s a real culture-changer or a culture-enhancer, at the very least, in the clubhouse.”

Here’s more on the Cubs:

  • The Cubs’ current focus is on trading for relievers, major league sources tell Ken Rosenthal of FOX Sports.  Chicago isn’t looking for high-end types like Andrew Miller of the Yankees, but they are fishing for middle-inning and setup options who would provide additional depth.  In the outfield, he adds, the Cubs’ plan is to play Jason Heyward in center field rather than add a center fielder and slide Heyward into right field.  The Cubs could also consider a trade for a starting pitcher.
  • After sitting on lower payroll numbers for six years, Cubs ownership has opened up the purse strings, Bruce Levine of CBS Chicago writes.  Epstein & Co. now have a projected $155MM payroll on the 25-man roster for 2016, eclipsing the previous watermark of $145MM in 2010.  The payroll should keep rising from here, thanks to a projected attendance hike this season and a TV contract that will give the Cubs billions of dollars worth of revenue.
  • In his introductory press conference this week, Heyward explained that he was drawn to the Cubs in part because of the roster stability he expects them to have going forward.   “Knowing the core is young and those guys are going to be around for a while is very exciting,” Heyward said, according to Jesse Rogers of ESPN.com. “I don’t want to take the highest dollar amount when my gut is telling me to go somewhere else. Being 26 years old and knowing that my contract would put me in any clubhouse for longer than most people there, you have to look at age, how fast the team is changing and how soon those changes will come about.”
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AL Central Notes: Frazier, Indians, Cespedes, Rondon, Ramos

By Steve Adams | December 15, 2015 at 9:30pm CDT

Todd Frazier is reportedly being shopped “heavily” by the Reds, and USA Today’s Bob Nightengale tweets that the most extensive interest in Cincinnati’s third baseman is coming from the American League Central. The Indians, White Sox and Royals are all in the mix for Frazier, Nightengale hears, which aligns with previous reports connecting the three clubs to the All-Star third baseman. Both Cleveland and Chicago could use upgrades at the hot corner, while Frazier would most likely be deployed in left field were the Royals to line up with the Reds on a trade.

Elsewhere in the AL Central…

  • Paul Hoynes of the Cleveland Plain Dealer writes that while the Indians may have lost a pair of trade partners when the D-backs (Zack Greinke, Shelby Miller) and Giants (Johnny Cueto, Jeff Samardzija) each added a pair of high-profile starting pitchers, there are still plenty of clubs with interest in Cleveland’s stockpile of young, controllable pitching. Hoynes feels that the Cubs (John Lackey signing notwithstanding), Rockies, Astros, Cardinals, Marlins and rebuilding Reds are all teams that could line up as trade partners. Cleveland is looking to bolster its offense and is interested in names like Jorge Soler, Javier Baez, Marcell Ozuna and Frazier. A one-for-one trade of Frazier for either Carlos Carrasco or Danny Salazar won’t be happening, he notes, as each has five years of club control compared to Frazier’s two. But, further pieces could make the deal more appealing. Failing a trade, the Indians could turn to relatively inexpensive names on the free agent market, where they’ve been linked to Rajai Davis, Shane Victorino and Steve Pearce.
  • Although Tigers GM Al Avila ruled out a run at top-of-the-market outfielders like Yoenis Cespedes at last week’s Winter Meetings, Anthony Fenech of the Detroit Free Press notes that owner Mike Ilitch made no such claim. Fenech writes that while the Tigers aren’t seen as a major player for Cespedes now, that could change if he lingers on the open market and his price tag drops. Ilitch bluntly stated that “[doesn’t] care about money” after signing Jordan Zimmermann, and there’s certainly the case that Cespedes’ agents at Roc Nation Sports could pitch directly to Ilitch, as Scott Boras reportedly did with Prince Fielder four years ago.
  • Also from Fenech, Tigers righty Bruce Rondon instigated a benches-clearing brawl at a game in the Venezuelan Winter League over the weekend. Fenech notes that manager Brad Ausmus had said just days prior that Rondon could work his way back into the bullpen picture by showing up to Spring Training with improved focus. The Tigers abruptly sent Rondon home with just under two weeks left in the season, citing his “effort level” as the driving factor behind the decision.
  • The Twins met with Cesar Ramos’ agents and listened to a pitch on the lefty reliever in Nashville, reports 1500 ESPN’s Darren Wolfson (via Twitter). However, Wolfson doesn’t get the sense that there’s any real movement on that front. Increasingly, it seems like the Twins will trade for the lefty reliever(s) they’re seeking.
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Chicago Cubs Chicago White Sox Cincinnati Reds Cleveland Guardians Colorado Rockies Detroit Tigers Houston Astros Kansas City Royals Miami Marlins Minnesota Twins St. Louis Cardinals Bruce Rondon Cesar Ramos Todd Frazier Yoenis Cespedes

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Cubs Sign Jason Heyward

By Steve Adams | December 15, 2015 at 3:43pm CDT

3:43pm: Heyward receives full no-trade protection from 2016-18 and limited no-trade protection in 2019-20, tweets Jon Heyman of CBS Sports. (Heyward will have 10-and-5 rights after that point, assuming he remains with the Cubs.) Heyman also reports that Heyward receives a $20MM signing bonus that is fully deferred, adding that the he’ll earn $15MM in 2016, $21.5MM in 2017-18, $20MM in 2019, $21MM in 2020-21 and $22MM in 2022-23 (links to Twitter).

Heyward can opt out after the 2018 season, and, if he chooses not to do so, will trigger a second opt-out clause following the 2019 season by reaching 550 plate appearances in 2019, Heyman adds.

DECEMBER 15, 2:34pm: The Cubs have announced the signing and are introducing Heyward today.

DECEMBER 11, 2:29pm: FOX’s Ken Rosenthal tweets that Heyward can opt out after the third year or fourth year if he meets certain plate appearance thresholds.

1:47pm: Heyward’s contract does indeed contain the option to opt out early, reports MLB Network’s Peter Gammons (Twitter link). However, he can opt out not only once, but twice, per Gammons. ESPN Chicago’s Jesse Rogers reports (also on Twitter) that the first opt-out clause comes three years into the contract, meaning Heyward can hit the open market entering his age-29 season if he chooses.

1:35pm: Bob Nightengale of USA Today hears it’s an eight-year, $184MM deal for Heyward (Twitter link) — an annual value of $23MM.

1:04pm: Heyward’s contract guarantees him less than $185MM and is believed to be for eight years, reports Wittenmyer (Twitter link).

12:12pm: Jason Heyward has chosen to sign with the Cubs, multiple sources tell Gordon Wittenmyer of the Chicago Sun-Times (Twitter link). Exact financial terms aren’t known, but Jon Heyman of CBS Sports tweets that the Cubs landed Heyward for less than $200MM despite the fact that the Nationals are said to have offered around, or exactly $200MM. An opt-out clause in the contract would certainly make some sense, though reports haven’t indicated that to be the case just yet. Still, Heyward’s agent, Casey Close of Excel Sports Management, has previously negotiated such clauses for clients Clayton Kershaw, Zack Greinke and Masahiro Tanaka.

Jason Heyward

Heyward, 26, adds to an exciting class of free-agent additions for the Cubs this offseason (really, in the past week or so), as the team has already agreed to a four-year, $56MM pact with Ben Zobrist and a two-year, $32MM contract with John Lackey (to say nothing of a one-year deal to bring back Trevor Cahill, who had a relatively quiet resurgence in the Chicago bullpen).

Like Lackey, Heyward rejected a qualifying offer at the beginning of the offseason, meaning he’ll cost Chicago a draft pick. The Cubs, then, will be forfeiting the No. 28 pick in the draft as well as their second-round pick, which would’ve fallen in the early 70s when factoring in the first Competitive Balance Round and compensation picks for teams losing free agents that rejected the qualifying offer.

The question following this addition, of course, will be how Heyward slots into the outfield. The three-time Gold Glove winner is known as one of the game’s premier defensive players but has been almost exclusively a right fielder. Consensus seems to be that he can handle center field if need be, but with a pair of highly controllable assets flanking him in the form of Kyle Schwarber and Jorge Soler, it’s conceivable that the team will make a move to flip a young outfielder (Soler has been mentioned in rumors far more than his young counterpart, Schwarber) in order to further strengthen the rotation. Of course, that would again leave the Cubs with a hole in center field that needs to be addressed.

Defensive metrics are, of course, imperfect, but it’s still notable that since debuting in 2010, Heyward leads all Major Leaguers, at any position, with 119 Defensive Runs Saved. He’s also the runaway leader in cumulative Ultimate Zone Rating in that time (+94.4), and his prorated UZR/150 of +18.4 trails only Juan Lagares and Andrelton Simmons among qualified fielders. Those rankings hold weight even when shortening the sample size to the past three years, as each metric agrees that Heyward is the best defensive player in the game aside from his former Atlanta teammate, Simmons.

Wherever he fits onto the diamond or into the lineup, Heyward will strengthen the Cubs not only defensively but on offense as well. Though many point to his lack of home run power in recent years — he’s averaged 13 per season since 2013 — Heyward has continually whittled away at his strikeout rate and posted consistently strong on-base percentage marks (especially relative to the declining league average in that regard). In his lone season with the division-rival Cardinals, Heyward batted .293/.359/.439 with 13 homers and 23 steals (in 26 attempts). His offensive output was 16 percent better than that of a league-average hitter when adjusting for park, by measure of OPS+, while a similar metric, wRC+, rated his park-adjusted offense to be 21 percent better than the league average.

That the Cubs will effectively be signing Heyward away from the Cardinals only sweetens the deal for the club. Much in the way that the D-backs felt extra value by keeping Zack Greinke away from the Dodgers and Giants in signing him, Heyward will not only strengthen the Cubs — his departure will weaken one of their two biggest rivals. The same can be said of Lackey, who will also jump from St. Louis to the other side of the storied rivalry between the two franchises.

The Heyward market was quiet for a good portion of the offseason, but in recent days, the finalists were said to be the Cubs, Cardinals, Nationals and possibly the Angels, while the Giants also reportedly had interest but didn’t progress to the point of making an offer.

Photo courtesy of USA Today Sports Images.

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Cubs, Jean Machi Agree To Minor League Deal

By Steve Adams | December 14, 2015 at 2:18pm CDT

The Cubs are in agreement with right-hander Jean Machi on a minor league contract, according to a tweet from his agent, Felix Olivo. The former Red Sox/Giants right-hander will receive an invitation to Major League Spring Training (Spanish link).

Machi, who turns 34 in February, split the 2015 season between the Red Sox and Giants, working to a combined 5.12 ERA with 6.5 K/9, 3.4 BB/9 and a 48.6 percent ground-ball rate. Though he struggled with both clubs, posting an ERA above five with each, he still served as Boston’s closer for a spell late in the season, recording four saves following a season-ending injury to Koji Uehara.

While the 2015 season was one that Machi may want to forget, he was a very strong bullpen piece for the Giants in 2013-14. During that time, the Venezuelan righty recorded a pristine 2.49 ERA with 7.7 K/9, 2.3 BB/9 and a ground-ball rate of about 53 percent across 119 1/3 innings. Machi didn’t make his big league debut until age 30, so he’s older than the standard arbitration eligible player, but the Cubs will be able to control him via that process for four seasons, should he rediscover the form he displayed during his pair of strong seasons with the Giants.

There’s some reason to hope that Machi can indeed achieve those heights. His struggles in 2015 were largely driven by a fluky low strand rate and an elevated homer-to-flyball rate. If either or both of those figures returns to his career levels, Machi could deliver a markedly better performance in a middle relief role. His velocity, after all, held steady at 92.7 mph this past season, and ERA estimators like FIP, xFIP and SIERA felt that while he did indeed take a step back from his peak, he was better than his bottom-line results indicated.

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