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11-04-2004, 02:59 PM
True Blue
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Join Date: Feb 2002
Posts: 15,008
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Gotta tell you, Fletch

Like, you I did my time in what is left of the big public firms. I did my time in E&Y. I have had several large clients. And I can tell you that we would NEVER give an unqualified opinion based upon "guarantees" of the owner. Either you have the cash or you do not. And if there is a rather large cash amount on the balance sheet, then YES it does play into the well-being of a company.
The bottom line is that the NHL cannot possibly be in such bad financial shape as Bettman is trumpeting if you have 23 franshices that are in perfect working order. The $223 # is nothing but a contrived load of dung. How can you say you cannot operate, when in reality, you can?
Now, I understand that the status quo does nothing for the league as a whole and that a better economic system needs to be implemented. But it needs to be implemented for the good of the league, NOT for the survival of the league as Bettman would have the uninformed believe. That's the difference. The $31 cap number is nothing but a way to get the owners to make more money.

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