: News Article:
Jacobs shuts up Jets mgmt rep
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11-28-2012, 08:27 PM
Join Date: Jun 2010
Originally Posted by
I appreciate the perspective. It does seem unlikely that such a successful big market team would make so little profit and ,no doubt, Jacobs is creative with the books.
On your suggestion, I googled Jeremy Jacobs. I love the Godfather reference, but, I gotta tell you, from what i read, he is one smart, successful, accomplished and
man. His bio reminds me a bit of Izzy Asper, who was an absolute bear as a businessman, but one of the most creative and philanthropic men in the history of this province. I would encourage people to actually research this and make up their own minds.
I don't mean to come across as an apologist for the owners. I just happen to think it is simplistic and
damaging to the players' cause
to villiify them.
Just to give a little back round on the Jacobs families start in business. The articles kind of repeat a lot of the same details, but they're still worth the read.
The most notorious of the firm’s names, Emprise was set up as a holding company in 1961. The word is defined as “daring” or “prowess” in undertaking a venture. In1972, Sports Illustrated offered its own take on the name: “Enterprise and empire: Emprise.”
While Jacobs Brothers may have began unremarkably, its mark on the world of sports would be profound. Over time, Louis learned how to leverage concessions contracts on the back of interest-free loans to sports franchises in need. There was a lot of need back then, too.
Many things happened decades ago. According to the Las Vegas Review-Journal, money from Emprise and the corruption-ridden Teamsters permitted Morris B. "Moe" Dalitz, whom the newspaper identified as a former Cleveland bootlegger and racketeer, to take over the Stardust casino from Jake "The Barber" Factor, a friend of Al Capone.
I first ran across Emprise when I was bureau chief in Cleveland for Business Week from 1966 to 1973. In fact, my first interest in investigative financial reporting came when I was anonymously sent a prospectus for a public offering for a slot-machine maker named Bally Manufacturing. The Securities and Exchange Commission held up the offering for months because of a principal's alleged longtime relationship with Gerardo "Jerry" Catena, whom Demaris calls a "Genovese family underboss" and close friend of Lucky Luciano.
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