Firm wants to buy ENTIRE NHL for $3.5b
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03-03-2005, 03:35 PM
Join Date: Feb 2002
Originally Posted by
After all, if some one offered you a tidy profit to buy your dog of a stock, wouldn't you sell?
Unless off course, the losses are not nearly as bad as Bettman would have you believe and not all teams are not nearly in the dire straits that they purport.
But this isn't a "dog of a stock" and you well know it, TB. Yours is a silly analogy because no one takes pleasure from the ownership of a stock. No one looks at a stock certificate and "enjoys" the certificate. The
pleasure one can take from owning a stock is in thinking about the money the stock is earning him. Even those owners who are business-minded
can take pleasure in the actual product they own, something they cannot do with stocks (dogs , blue chips, or others).
You write your post as if there's only one reason they wouldn't sell: because they're liars who are misrepresenting their level of trouble. Another reason, one which you ignore, is that they simply don't want to sell their businesses because they like owning those businesses. These are businesses with pride, reputation, and people attached. They produce something that can be viewed and enjoyed. If you want to build an analogy, a better choice than "stocks" would be a restauranteur whose latest restaurant is in trouble.
Might he be wise to sell it under a good offer? Sure but that hardly mean he WANTS to, much less would "jump" at an offer to sell. Whether you care to see them characterized this way or not, a majority of the NHL owners WANT to keep their teams; if Bettman has promised them a way to make those teams profitable again, they will take that rather than sell the businesses they enjoy owning.
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