The Business of HockeyDiscuss the financial and business aspects of the NHL. Franchise sales, valuations, TV contracts, ratings, expansion, relocation, the CBA and work stoppage discussion goes here.
Well, his Dragon buddy O'Leary's claim to fame is a tech buyout that routinely makes the "10 Worst Acquisitions of All Time" list, so you never know.
It's funny, they get cruddy businessmen to do these business shows, the American Apprentice has Donald Trump and the British version has Lord Sugar, who also did cruddy electronics.
Yeah, Trump is another one, multiple bankruptcies and the whole family foundation build on scamming public housing funding to begin with.
Was in the Trump building in the Financial District a couple of days ago. Elevators were decorated like a mid-70s make out pad, all brass mirrors and bad lighting.
And O'Leary is much more entertaining on the American remake, Shark Tank. Mostly because a lot of people on Dragon's Den seem really desperate and it makes me sad.
I'd say that getting Mattel to buy TLC for ~$4 billion qualifies O'Leary as a genius
They had a program "Spooky teaches typing" it was the greatest typing program ever. I have three kids they all could type without looking at the keyboard by the 4th grade. My son topped out at 108 WPM. when he finally tired of the program and quit using it.
Well, his Dragon buddy O'Leary's claim to fame is a tech buyout that routinely makes the "10 Worst Acquisitions of All Time" list, so you never know.
I had heard something similar. Correct me if I am wrong...
O'Leary's group sold their software for $3B and it became obsolete shortly after. He went bankrupt a few times, got very lucky(!!!) and now acts like he is the king of the business world.
Can't figure out why people eat there. Has to be some of the worst pizza I've ever had.
We had one near our high school and always got the team pitchers which were a pretty sweet deal. After tearing through a couple of those it doesn't matter what the pizza tastes like
I'd say that getting Mattel to buy TLC for ~$4 billion qualifies O'Leary as a genius
From an article I found...
"On this day in Mattel Inc. history, the California-based toy company paid $3.5 billion to acquire The Learning co., the makers of educational grade-based software programs. With the acquisition of The Learning Co. on May 13, 1999, Mattel was no longer just an entertainer of children, it became an educator of children.
One year later, it was Mattel that was getting the biggest education, reportedly losing $1.5 million per day because of its Learning Company acquisition. Mattel "sold" its high-tech acquisition just 16 months after it was purchased, for the price of zero dollars, to Gore Technologies. In less than two years, Mattel losses were substantial - $4 billion dollars, one CEO, and a whole lot of share value. But the company did earn itself a place in U.S. business history, with a solid position on the "worst American business deals of all time" list."
So how can the esteemed Mayor claim a lack of understanding in regards to the money in escrow? Should buyers remorse not reared it's head last year?
Hey ABD-welcome back
Coles Notes version: Scruggs said that the reason they signed off last year was because allegedly Daly told her that a buyer was set and ready to go, but they needed to spend the 25 mil to finish transaction. Now they're saying that their 30 mil in the hole for this years debt, and that when she "tried to withdraw the money, she discovered that wasn't permitted" (For his part, Daly has denied ever making that statement to Scruggs). And seeing as this year, according to her there's no buyer, so they want to pull the 20 mil out (while being 5 mil short) and "repay back" the money on a payment plan to the NHL
The debate about whether she's playing dumb, or really was clueless of something of this magnitude continues to be discussed.
Coles Notes version: Scruggs said that the reason they signed off last year was because allegedly Daly told her that a buyer was set and ready to go, but they needed to spend the 25 mil to finish transaction. Now they're saying that their 30 mil in the hole for this years debt, and that when she "tried to withdraw the money, she discovered that wasn't permitted" (For his part, Daly has denied ever making that statement to Scruggs). And seeing as this year, according to her there's no buyer, so they want to pull the 20 mil out (while being 5 mil short) and "repay back" the money on a payment plan to the NHL
The debate about whether she's playing dumb, or really was clueless of something of this magnitude continues to be discussed.
Good to be back TL. My confusion still rests on the fact that as the mayor was signing on for the 2nd 25 mil with an "imminent deal"(like we hadn't heard that before), The NHL was cashing in their previous voucher. If it happened once, where is the surprise on how all this works? I am sure I am missing something some where.
Good to be back TL. My confusion still rests on the fact that as the mayor was signing on for the 2nd 25 mil with an "imminent deal"(like we hadn't heard that before), The NHL was cashing in their previous voucher. If it happened once, where is the surprise on how all this works? I am sure I am missing something some where.
Ah, that's the 25 million dollar question (literally!)
You're not missing anything-the rest of us are also scratching our heads-how do you sign a deal of this magnitude and then "neglect" to note the fact that the money is no longer yours once deposited?
I mean I'm not a mayor, or anything CLOSE to a mega money expert (I do enough managing my bank acct thank you lol)-but even *I* would be saying "um, can we can get this money back?
I mean surely Scruggs is just playing dumb here right? RIGHT???
Ah, that's the 25 million dollar question (literally!)
You're not missing anything-the rest of us are also scratching our heads-how do you sign a deal of this magnitude and then "neglect" to note the fact that the money is no longer yours once deposited?
I mean I'm not a mayor, or anything CLOSE to a mega money expert (I do enough managing my bank acct thank you lol)-but even *I* would be saying "um, can we can get this money back?
I mean surely Scruggs is just playing dumb here right? RIGHT???
Its the old "if you don't ask I'm not gonna tell". Scruggs was most likely convinced in her mind that the money was never going to be spent, as she as already said, that it just never dawned on anyone in the CoG to ask " is this money locked in ". So unless someone asked the NHL that specific question, why would they offer the info.
Then again it does boggle the mind that no one in the CoG understands how all this money is working.
Looks closer to a CHL team for Glendale more than NHL if I am reading that info (between the lines of course).
Naah, Global's MO doesn't usually include lobbying to put WPHL (dba CHL) teams into existing buildings. One of Global's other subsidiaries, ICC (International Colisuems Corp, if I remember correctly), is in the business of lobbying municipalities to spend tens of millions on building an arena/events center, usually holding between 5k and 7k for hockey, by dangling the carrot of a guaranteed anchor tenant in the person of a WPHL (dba CHL) team -- and of course, ICC would get paid for the arena building, Global would get paid for the events management contract (that they would also lobby for), and the WPHL would find some local suckers to pony up the money for a WPHL franchise...
Now, the typical path here has been that the city, once the arena is built, figures out that Global is not actually competent at arena management, and sues them to break the contract -- this has happened in NEARLY EVERY CASE where Global has gotten the arena management contract. Around this same time, the WPHL (dba CHL) team that has been playing in the arena has been struggling with attendance, and eventually announces, sadly, that they need to fold (or sometimes be sold and move). So, ICC has their money, Global has some money, the WPHL has the league dues from the team owner... and the city is left with a white elephant of an arena, that if they're LUCKY they might be able to put a junior hockey team into.
Quite the operation -- it amazes me to this day that cities don't do five minutes of internet research to find this pattern of Global/ICC/the WPHL failures with the cities involved left holding the bag.
So, no, I can't really see Treveling's (sp?) interest being in putting a WPHL (dba CHL) team into Glendale, unless it comes along with awarding a massive arena management contract to Global. Now, if Tempe, for example, were to pay ICC for an "events center" , then I could absolutely see Treveling looking for a WPHL tenant.
Naah, Global's MO doesn't usually include lobbying to put WPHL (dba CHL) teams into existing buildings. One of Global's other subsidiaries, ICC (International Colisuems Corp, if I remember correctly), is in the business of lobbying municipalities to spend tens of millions on building an arena/events center, usually holding between 5k and 7k for hockey, by dangling the carrot of a guaranteed anchor tenant in the person of a WPHL (dba CHL) team -- and of course, ICC would get paid for the arena building, Global would get paid for the events management contract (that they would also lobby for), and the WPHL would find some local suckers to pony up the money for a WPHL franchise...
Now, the typical path here has been that the city, once the arena is built, figures out that Global is not actually competent at arena management, and sues them to break the contract -- this has happened in NEARLY EVERY CASE where Global has gotten the arena management contract. Around this same time, the WPHL (dba CHL) team that has been playing in the arena has been struggling with attendance, and eventually announces, sadly, that they need to fold (or sometimes be sold and move). So, ICC has their money, Global has some money, the WPHL has the league dues from the team owner... and the city is left with a white elephant of an arena, that if they're LUCKY they might be able to put a junior hockey team into.
Quite the operation -- it amazes me to this day that cities don't do five minutes of internet research to find this pattern of Global/ICC/the WPHL failures with the cities involved left holding the bag.
So, no, I can't really see Treveling's (sp?) interest being in putting a WPHL (dba CHL) team into Glendale, unless it comes along with awarding a massive arena management contract to Global. Now, if Tempe, for example, were to pay ICC for an "events center" , then I could absolutely see Treveling looking for a WPHL tenant.
Wow, sounds like you've some experience with this group before. Good to see another side of the story.
Wow, sounds like you've some experience with this group before. Good to see another side of the story.
Not direct experience, but when the WPHL was founded, they sliced away some markets that the WCHL had been looking at (and I lived in a then-WCHL city) In that first season (1996-97), I think the WCHL and WPHL didn't honor each other's contracts, so there was a LOT of mid-season movement and poaching between the two leagues until they came to a reciprocity agreement. Given that this was during the massive expansion of minor-pro hockey in the late 90s, and it was the time that I was first beginning to get interested in the business side, I kept an eye on the league's dealings -- that and the Death Pool Report that I wrote for several years kept me relatively informed about that level.
Can't figure out why people eat there. Has to be some of the worst pizza I've ever had.
They don't know what they don't know.
Not that I am a great gourmand, but seriously, I have met people who consider Boston Pizza to be an "ethnic" (i.e "Italian" restaurant. That blew my mind.
I eat at Bp's because either it is the only restaurant in a small town (the options in, say, High Level AB are pretty limited) or because I need a restaurant that doesn't mind me bringing my two year old in.
So between being in small town Canada, and being family-friendly, that can capture a lot of business.
Not that I am a great gourmand, but seriously, I have met people who consider Boston Pizza to be an "ethnic" (i.e "Italian" restaurant. That blew my mind.
I ate at an "Olive Garden" once. While the bad food stands out as a solid memory, what REALLY stood out was that this self-described "ethnic italian" joint has misspelled "Caesar" on the menu.
I ate at an "Olive Garden" once. While the bad food stands out as a solid memory, what REALLY stood out was that this self-described "ethnic italian" joint has misspelled "Caesar" on the menu.
If you ever go to the Olive Garden again, order the (all you can eat) Soup and Salad special and skip the bland pasta. That is what I do.
This thread has veered into various off-topic tangents before, but I would never have predicted a discussion about Boston Pizza's claim to be an "ethnic" restaurant, or about the specials at the Olive Garden.
