Phoenix LXXII: Send in the Clowns
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02-21-2013, 08:55 PM
Join Date: Feb 2012
Originally Posted by
Well, I wouldn't say the supply is endless considering that we have started to recycle potentials, but he does do a good job of getting people to stand up and say they are interested.
I'm just curious as to how much it cost all these tire kickers ( out of their own pockets ) to say to the CoG, pick me ... pick me! IE: Hulsizer shows up a game and sits in the crowd wearing a Coyotes hat and jersey that I swear still had the tags on, so did he pay for this out of his own money? What were any lawyers fees, etc.
Well add to the lawyers you have accountants, valuation people, tax experts, other due diligence staff. Out of grad school I worked for a Big 5 (it was still 5 back then) firm. My bill rate (the rate the firm charged not what I got) was $275 an hour. Someone straight out of undergrad was $175 an hour. The valuation group was that much as well. Plus travel expenses if they had to use people from outside of AZ. Even if he didn't use a big name firm adjusting for inflation you are still talking over $200 an hour for every person who is going through the books generating reports etc. Lawyers I doubt he was using his own in house people which I assume Peak6 has, so there you are probably more like $500 an hour. So my guess is he ran up a seven figure tab if he really got deep into it
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