OK, first of all, let’s dispense with the myth that companies lose millions of dollars of productivity because their employees are too busy monitoring their pools (and trash talking) to do their work. It doesn’t make sense because it assumes that in absence of March Madness, said folks would be diligently filling out TPS reports instead of posting on Facebook or browsing Wikipedia (not to mention that most of the games take place outside of office hours). Speaking of basketball urban myths, Snopes does a good job of bursting the bubble on Lebron’s Powerade commerical…still, if you haven’t seen it, check out the video.

The NCAA Men’s Basketball Tournament is the best sporting event of the year, IMO for a couple of reasons:

- single elimination so every team has a chance with no do-overs

- vast majority of players will never play a professional game

- there is nothing better than cheering for an underdog, especially a team that you have never heard of before

- a 12 seed always beats a 5 seed (uh, except for last year)

- for most of the small schools (all champions from admittedly weaker leagues) a single victory is the greatest thing that can happen

- 2006 George Mason and 1985 Villanova

The event is also perfect for the blogosphere. Stats and predictions (some backed by some pretty serious management science) far too geeky and detailed for the popular press are abound. Some of my favorites are here, here, and here. Also, here is a great article that scientifically tells you if a lead is safe.