Madness or Mythology?

Jared Sandberg looks at the real impact that "March Madness" has on business in today's Wall Street Journal (sub req):

But the real madness of March is excessive fear mongering in the workplace, where legions of employees don't know Blue Devils from Buckeyes. To them, March Madness has more to do with that unspeakable Spring Break in Cancún.

For actual fans, the tournament is simply this month's distraction. "People who are wasting time always find a golden opportunity to waste more," observes Steve Bosking, a marketing director.

In reality, March is pretty mild. Researchers Birinyi Associates found that Big Board trading volume during the busiest days of the tournament have been higher than average for the past 10 years. For plenty of people, the NCAA games aren't distracting. In a recent survey, WorkPlace Media found that 69% of American workers won't be wagering in the office pool. Nearly half say they "have no interest in the tournament at all."

Don't believe the hype.