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Chicago Cubs chairman Tom Ricketts hired Stephen J.K. Walters to be a top consultant on all expenditures for the organization.
Walters -- a professor of economics at Loyola Marymount -- was hired in March to help analyze and make recommendations on the budget for every department in the organization, including baseball operations, according to MLB sources.
Ricketts made his first baseball operations hire in the summer of 2010, moving Ari Kaplan into the role of manager of statistical analysis. Kaplan's job entails computer and scouting analysis, with special attention to the skills of present and future players.
Walters, 61, received a bachelors from University of Pennsylvania and a masters and Ph.D. from the University of California. He was named a distinguished teacher of the year at Loyola Marymount in 2005.
According to one baseball source, Walters' only connection with baseball before his hiring was as a consultant to former Boston Red Sox general manger Dan Duquette.
Among Walters' memberships is the Society for American Baseball Research.
Ricketts hires Walters to help with spending - Chicago Cubs Blog - ESPN Chicago