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Nationwide: The 800 pound gorilla?

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Old
01-06-2012, 08:50 AM
  #1
EDM
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Nationwide: The 800 pound gorilla?

Ok, the new ownership group supposedly meets for the first time on January 16th. Could Nationwide be the minority owner that finally throws the tantrum that forces MacJr. to behave in a competent manner. Does Nationwide see the idiocy in making a steel industry accountant the CEO of a hockey franchise? Their "world's greatest salesman" commercials aside, Nationwide seems to be a very well run company. But I have no knowledge beyond the public speculation about what they will bring to the the ownership meeting. Does anyone know who Nationwide will be sending as their rep to the owners meeting or the approach Nationwide may take to their new ownership role of the Titanic?

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01-06-2012, 08:56 AM
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Who the hell knows. Either way, they have an interest in seeing the team do well and could make things more uncomfortable as they might address the issues from a different perspective. They could look at issues far differently.

I know it's a fantasy for some around here as an avenue for hope, but I'm not sure a lot comes out of the 16th unless everyone comes to the table frustrated and ready for action.

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01-06-2012, 08:59 AM
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http://www.nationwide.com/newsroom/e...iographies.jsp

I know one of these people has hockey in their bio.

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01-06-2012, 09:13 AM
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Originally Posted by Jaxs View Post
http://www.nationwide.com/newsroom/e...iographies.jsp

I know one of these people has hockey in their bio.
That one guy has "Customer Solutions" in his title. I want him! (Of course, I don't have insurance through Nationwide, so, depending on the feedback of actual customers, maybe I don't.)

Speculation on who might sit at the table from Nationwide and what that person might bring to the ownership group on behalf of his/her company is about at baseless as we could get - and that's saying something.

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01-06-2012, 09:14 AM
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http://www.nationwide.com/newsroom/e...iographies.jsp

I know one of these people has hockey in their bio.
Do tell!

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01-06-2012, 09:14 AM
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Originally Posted by blahblah View Post
I know it's a fantasy for some around here as an avenue for hope, but I'm not sure a lot comes out of the 16th unless everyone comes to the table frustrated and ready for action.
Baby steps are my expectations. Hopefully some tough questions will be asked rather than a rubber stamp.

IMO nothing changes until Priest goes.

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01-06-2012, 09:16 AM
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"This represents something marginally different. Could this make Everything Better?"

I ain't buyin' this premise.

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01-06-2012, 09:39 AM
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Originally Posted by leesmith View Post
Do tell!
I should have used a . At least there will be some new blood helping to make "executive" decisions. Whether or not that translates into steps to improve this club, we shall see.

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01-06-2012, 10:15 AM
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"This represents something marginally different. Could this make Everything Better?"

I ain't buyin' this premise.
Kill-Joy

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01-06-2012, 10:31 AM
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We didn't get a new "majority" owner. It's minority. That means they brought in a big sack of money. That's it. They don't actually get a say so in how things are run. Ask anyone who's invested money in Apple if Steve Jobs ever asked for their opinion.

Board of directors is a whole other thing. Those guys can gang up and force change. Minority owners? No.

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01-06-2012, 10:55 AM
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The one thing I am pretty sure about is Nationwide is not stupid enough to drop a bunch of money on a bungler like MacJr. without getting some kind of seat at the table to protect their investment.

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01-06-2012, 11:15 AM
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I read this and thought, okay, seeing as this new "group" will have a meeting on January 16, why then has it taken the Jackets so long to make any changes. Perhaps the Jackets are waiting for the meeting, where Nationwide and others will have a sit down face to face "come to Jesus" moment and as a result changes will be made after the meeting. That is the only thing that makes sense to me now. Why wait to fire Arniel? Maybe it is because they want to get the Arena deal over and done with, and then have a meeting where they can discuss every aspect of the hockey operation. Maybe this is the reason for the dragging of the feet on making a decision

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01-06-2012, 11:16 AM
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Quote:
Originally Posted by EDM View Post
The one thing I am pretty sure about is Nationwide is not stupid enough to drop a bunch of money on a bungler like MacJr. without getting some kind of seat at the table to protect their investment.
Haven't they already done exactly this with the arena?

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01-06-2012, 12:57 PM
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No, Nationwide has made out like a bandit with the arena. Heck, they were given development rights to the entire Arena District as part of that deal. Their real estate division has made a fortune. T

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01-06-2012, 02:25 PM
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Since COLHOC is an LLC, one can only speculate on current ownership percentages. The Dispatch guessed the current ownership breakdown is 80% of the shares is owned by JPM with the other 20% split between Pizutti, Crane, Wolfe and Horn Chen.

The Dispatch thinks the new ownership will be 51% JPM, 30% Nationwide and 19% others. What does this mean? To me, it means Nationwide will bring a whole lot of cash and the ability to minimum debt and risk. It may make it a lot easier to buy out a coach or GM when JPM only have to eat 51% of the cost versus 80%.

Personally, that’s why I think you have not seen any personal changes. The current group is waiting on Nationwide before any decision is made. Who knows—that may have been in the contract? No major changes until Nationwide officially becomes a minority partner.

Five years, Nationwide buys out the others to become majority owner.

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01-06-2012, 02:40 PM
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Quote:
Originally Posted by Samkow View Post
Haven't they already done exactly this with the arena?
sure if you want to just look at the selling price to the county its own little bubble, but if you want to look at everything else then they made out pretty darn good. Advertising, real-estate, etc, I think they made well more than enough to recoup the loss they suffered by selling the arena for less than what it was worth.

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