HFBoards

Go Back   HFBoards > General Hockey Discussion > The Business of Hockey
The Business of Hockey Discuss the financial and business aspects of the NHL. Topics may include the CBA, work stoppages, broadcast contracts, franchise sales, and NHL revenues.

Phoenix LXVI: Get Your Kicks On Thread LXVI

Closed Thread
 
Thread Tools
Old
12-04-2012, 03:16 PM
  #426
cbcwpg
Registered User
 
cbcwpg's Avatar
 
Join Date: May 2010
Location: Between the Pipes
Country: United Nations
Posts: 5,427
vCash: 350
Quote:
Originally Posted by CGG View Post
(4) Explain why they didn't have a licensed risk management consultant for a 29 month period between Sep 2009 and Feb 2012, even though one is required by state law.
Would you want a licensed risk management consultant around while you played shuffle the money?

The hens can't run amok with a rooster watching over them.

cbcwpg is offline  
Old
12-04-2012, 04:19 PM
  #427
barneyg
Registered User
 
Join Date: Apr 2007
Posts: 2,189
vCash: 500
Quote:
Originally Posted by Thomas L View Post
Dunno. It's a workshop not a meeting. Anyway, here's the RM audit report. I have not reviewed.

http://www.glendaleaz.com/Clerk/agen...120412-W05.pdf
This is actually Skeete/staff's official answer regarding the RM audit report (which was here).

I did read it, here's a summary:

"We did nothing wrong, we only did what we had been doing for years already. Craig Tindall told us to add that this doesn't justify what was done and we won't do it again (I think?)"

---

On a related note, the 12/12/2012 debt refinancing was discussed in the November 13 workshop (items 15 and 16). Interestingly:

Quote:
Upon Council approval, it is estimated that the net present value savings of this refinancing as well as the Municipal Properties Corporation refinancing will exceed $28 million. In addition, there is an expected cash flow savings to the General Fund of approximately $35 million over the next five years.
With the downgrade, so much for that plan.

barneyg is offline  
Old
12-04-2012, 05:07 PM
  #428
Whileee
Registered User
 
Join Date: May 2010
Posts: 6,867
vCash: 500
Quote:
Originally Posted by barneyg View Post
This is actually Skeete/staff's official answer regarding the RM audit report (which was here).

I did read it, here's a summary:

"We did nothing wrong, we only did what we had been doing for years already. Craig Tindall told us to add that this doesn't justify what was done and we won't do it again (I think?)"

---

On a related note, the 12/12/2012 debt refinancing was discussed in the November 13 workshop (items 15 and 16). Interestingly:



With the downgrade, so much for that plan.
Well, it is perhaps an understatement, but the whole Glendale plan hasn't really been coming together that well.

It seems an almost certainty that Glendale is in for some rather tough times and difficult cuts in the coming years. So it will be hard for Jamison to escape the intense gaze of the hockey fans and general public. Imagine how things will go when he starts to raise ticket prices, as he must. Also, consider the pressure he'll face if he maintains a rather spartan player salary budget (as he will likely have to do in the short term), particularly if the on-ice performance lags somewhat. Given the largesse being provided to Jamison by the taxpayers of Glendale, they might well expect him to be a more generous owner than he will be able to manage. Things could become rather toxic, and his status as a "savior" seems quite likely to be rather short-lived.

My point is that the great financial hardships facing Glendale are going to be seen as being pinned to Jamison and this deal. Moody's has made the connection explicit. He would have been in a much stronger position politically and with respect to public relations if he didn't have to squeeze the COG so hard financially. The NHL's fingerprints are all over that, after first draining the COG's coffers over the past two years to cover the Coyotes' operating costs.

Whileee is offline  
Old
12-04-2012, 05:35 PM
  #429
calmdown
Registered User
 
Join Date: Jul 2012
Location: Quebec City
Country: Canada
Posts: 258
vCash: 500
Quote:
Originally Posted by Whileee View Post
Well, it is perhaps an understatement, but the whole Glendale plan hasn't really been coming together that well.

It seems an almost certainty that Glendale is in for some rather tough times and difficult cuts in the coming years. So it will be hard for Jamison to escape the intense gaze of the hockey fans and general public. Imagine how things will go when he starts to raise ticket prices, as he must. Also, consider the pressure he'll face if he maintains a rather spartan player salary budget (as he will likely have to do in the short term), particularly if the on-ice performance lags somewhat. Given the largesse being provided to Jamison by the taxpayers of Glendale, they might well expect him to be a more generous owner than he will be able to manage. Things could become rather toxic, and his status as a "savior" seems quite likely to be rather short-lived.

My point is that the great financial hardships facing Glendale are going to be seen as being pinned to Jamison and this deal. Moody's has made the connection explicit. He would have been in a much stronger position politically and with respect to public relations if he didn't have to squeeze the COG so hard financially. The NHL's fingerprints are all over that, after first draining the COG's coffers over the past two years to cover the Coyotes' operating costs.
Fully agree with you, and it is beginning right now in Glendale if you follow the today workshop... They begin to realise they are in trouble Better late than never

calmdown is offline  
Old
12-04-2012, 05:49 PM
  #430
calmdown
Registered User
 
Join Date: Jul 2012
Location: Quebec City
Country: Canada
Posts: 258
vCash: 500
I think that Craig Tindall is in hot water right now? Am I right?

calmdown is offline  
Old
12-04-2012, 05:53 PM
  #431
cbcwpg
Registered User
 
cbcwpg's Avatar
 
Join Date: May 2010
Location: Between the Pipes
Country: United Nations
Posts: 5,427
vCash: 350
Quote:
Originally Posted by calmdown View Post
I think that Craig Tindall is in hot water right now? Am I right?
Scruggs is laying into him. Tindall is saying it is not within his power nor duties to enforce the law. He is not in law enforcement. Only when he is absolutely sure something is wrong will he step forward, but he will not just start an investigation, to see if something might be wrong, not his roll. ---- Pharaphrase

Scruggs is questioning why, when people saw things potentially illegal, why no one stepped forward.

Scruggs wants an audit done regardless of cost, and thinks anyone who questions the cost of the audit is of questionable mind, considering the cost of the contract the CoG just entered in to.


Last edited by cbcwpg: 12-04-2012 at 06:02 PM.
cbcwpg is offline  
Old
12-04-2012, 06:08 PM
  #432
barneyg
Registered User
 
Join Date: Apr 2007
Posts: 2,189
vCash: 500
Tindall can't be in much hot water unless he was specifically asked whether those transfers were allowed, and he wasn't.

With Beasley gone, Ms. Schurhammer (basically city CFO) will be taking the heat on the RM audit.

edit -- gotta love Alvarez's Winnie the Pooh Christmas sweatshirt at a council workshop.

barneyg is offline  
Old
12-04-2012, 06:09 PM
  #433
Major4Boarding
Moderator
Private Equity
 
Major4Boarding's Avatar
 
Join Date: Jan 2009
Location: South of Heaven
Country: Scotland
Posts: 1,652
vCash: 500
Ouch! This workshop should be renamed "Woodshed". As in, "taken out back to the..."

Major4Boarding is online now  
Old
12-04-2012, 06:13 PM
  #434
Major4Boarding
Moderator
Private Equity
 
Major4Boarding's Avatar
 
Join Date: Jan 2009
Location: South of Heaven
Country: Scotland
Posts: 1,652
vCash: 500
LMFAO!!! Clark pulls the "Sweep it under the rug and move on" card

Major4Boarding is online now  
Old
12-04-2012, 06:13 PM
  #435
cbcwpg
Registered User
 
cbcwpg's Avatar
 
Join Date: May 2010
Location: Between the Pipes
Country: United Nations
Posts: 5,427
vCash: 350
Scruggs: Why was this not in the budget? Why? So, it was a deliberate omission? Who told you to omit it?

.... crickets ....

Clark: It's apparent that there have been irregularities.

Clark thinks it wasted energy to try and put blame to the people responsible, instead just wants to worry about how to fix it.

cbcwpg is offline  
Old
12-04-2012, 06:17 PM
  #436
habsinottawa
Registered User
 
Join Date: May 2011
Posts: 77
vCash: 500
They all seem really...confused. Scruggs knows she wants information. But no one seems to really know whats going on. This is super weird.

habsinottawa is offline  
Old
12-04-2012, 06:19 PM
  #437
cbcwpg
Registered User
 
cbcwpg's Avatar
 
Join Date: May 2010
Location: Between the Pipes
Country: United Nations
Posts: 5,427
vCash: 350
If I ever need someone to hide some money for me and get rid of the paper trail... I'm thinking I'm gonna call that new consulting firm with the name Beasley in it. He did a masterful job of confusing the hell out of the CoG council.

cbcwpg is offline  
Old
12-04-2012, 06:20 PM
  #438
calmdown
Registered User
 
Join Date: Jul 2012
Location: Quebec City
Country: Canada
Posts: 258
vCash: 500
Thank you guys, I thought I it was impossible...

calmdown is offline  
Old
12-04-2012, 06:22 PM
  #439
habsinottawa
Registered User
 
Join Date: May 2011
Posts: 77
vCash: 500
Clark seems unwilling to lay blame, but forgive me if I'm wrong, don't some of these issues actually result in some kind of legal culpability? If I were her, I would want to make damn sure that I'm not somehow responsible for any illegal activity. This is getting shadier by the minute.

habsinottawa is offline  
Old
12-04-2012, 06:34 PM
  #440
calmdown
Registered User
 
Join Date: Jul 2012
Location: Quebec City
Country: Canada
Posts: 258
vCash: 500
Canadian traffic causing my video feed to be wonky, mine too George ;-)

calmdown is offline  
Old
12-04-2012, 06:34 PM
  #441
barneyg
Registered User
 
Join Date: Apr 2007
Posts: 2,189
vCash: 500
Quote:
Originally Posted by habsinottawa View Post
They all seem really...confused. Scruggs knows she wants information. But no one seems to really know whats going on. This is super weird.
It's not really weird. These people have a track record of making decisions without considering the data at hand, or requiring that it be produced before they go to a vote.

Case in point: Knaack essentially saying "we just didn't understand what that risk management stuff was about, how could we be responsible for this?"... reality check Mrs. Knaack: figuring out what those things are about isn't just another item in your job description, it's why your job exists.

Glendale is a story we like to follow because it's related to hockey but elected officials everywhere often fail to grasp the extent of their responsibility regarding those issues.

barneyg is offline  
Old
12-04-2012, 06:41 PM
  #442
calmdown
Registered User
 
Join Date: Jul 2012
Location: Quebec City
Country: Canada
Posts: 258
vCash: 500
Quote:
Originally Posted by barneyg View Post
It's not really weird. These people have a track record of making decisions without considering the data at hand, or requiring that it be produced before they go to a vote.

Case in point: Knaack essentially saying "we just didn't understand what that risk management stuff was about, how could we be responsible for this?"... reality check Mrs. Knaack: figuring out what those things are about isn't just another item in your job description, it's why your job exists.

Glendale is a story we like to follow because it's related to hockey but elected officials everywhere often fail to grasp the extent of their responsibility regarding those issues.
Irresponsibles...

calmdown is offline  
Old
12-04-2012, 06:41 PM
  #443
cbcwpg
Registered User
 
cbcwpg's Avatar
 
Join Date: May 2010
Location: Between the Pipes
Country: United Nations
Posts: 5,427
vCash: 350
Quote:
Originally Posted by calmdown View Post
Canadian traffic causing my video feed to be wonky, mine too George ;-)
Well, I did complain about the CoG allowing out-of-towners to talk in their meetings. Maybe they took it too far and cut us off...

Maybe this is the first step of cutbacks. no more T1 internet in Glendale... instead we get dropped down to 56K dialup.

cbcwpg is offline  
Old
12-04-2012, 06:43 PM
  #444
calmdown
Registered User
 
Join Date: Jul 2012
Location: Quebec City
Country: Canada
Posts: 258
vCash: 500
Quote:
Originally Posted by cbcwpg View Post
Well, I did complain about the CoG allowing out-of-towners to talk in their meetings. Maybe they took it too far and cut us off...
A good one but it was about a tweet of George Fallar... Even him has been boycott lol

calmdown is offline  
Old
12-04-2012, 06:48 PM
  #445
calmdown
Registered User
 
Join Date: Jul 2012
Location: Quebec City
Country: Canada
Posts: 258
vCash: 500
In reality, I think that after Moody's affair, lot of people in US wanted to see how this could happend ;-) In Canada, realy nobody wonders about what is appening in Glendale except few guys here not enough to bug a website... But Americans citizens must be wondering what is happening in Glendale...

calmdown is offline  
Old
12-04-2012, 06:55 PM
  #446
Evil Doctor
Army Recruit
 
Evil Doctor's Avatar
 
Join Date: Apr 2009
Location: Cambridge, ON
Country: Canada
Posts: 2,166
vCash: 500
Quote:
Originally Posted by barneyg View Post
edit -- gotta love Alvarez's Winnie the Pooh Christmas sweatshirt at a council workshop.
I logged in just so I can see that...

Edit: Did she take it off? Oh, pooh....


Last edited by Evil Doctor: 12-04-2012 at 07:00 PM.
Evil Doctor is offline  
Old
12-04-2012, 06:55 PM
  #447
calmdown
Registered User
 
Join Date: Jul 2012
Location: Quebec City
Country: Canada
Posts: 258
vCash: 500
19:54 Eastern time, back to normal, I suppose peoples got bored ;-)

calmdown is offline  
Old
12-04-2012, 06:59 PM
  #448
calmdown
Registered User
 
Join Date: Jul 2012
Location: Quebec City
Country: Canada
Posts: 258
vCash: 500
Quote:
Originally Posted by Evil Doctor View Post
I logged in just so I can see that...
Come on! ED, she's cute... But she's sick and I admire her dedication for the city. She always have good questions... I know, she's not a Pamela but she seem realy to wonder for the peoples who voted for her

And notice, she is the only one not in grey or other fade colors... The only one that contrast lol

And if you watch all the workshop, she was the only one asking if it was legal to make those transfers long ago and she was told that it was until last week after the audit...


Last edited by calmdown: 12-04-2012 at 07:14 PM.
calmdown is offline  
Old
12-04-2012, 07:13 PM
  #449
OthmarAmmann
Money making machine
 
OthmarAmmann's Avatar
 
Join Date: Jul 2010
Location: NYC
Posts: 2,510
vCash: 500
Quote:
Originally Posted by barneyg View Post
edit -- gotta love Alvarez's Winnie the Pooh Christmas sweatshirt at a council workshop.
haha - she's a plant from Winnipeg

OthmarAmmann is offline  
Old
12-04-2012, 07:25 PM
  #450
OthmarAmmann
Money making machine
 
OthmarAmmann's Avatar
 
Join Date: Jul 2010
Location: NYC
Posts: 2,510
vCash: 500
Quote:
Originally Posted by calmdown View Post
And if you watch all the workshop, she was the only one asking if it was legal to make those transfers long ago and she was told that it was until last week after the audit...
wait, what?! how many workshops have you watched?! Here I thought I had a problem...

OthmarAmmann is offline  
Closed Thread

Forum Jump


Bookmarks

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off



All times are GMT -5. The time now is 09:26 PM.

monitoring_string = "e4251c93e2ba248d29da988d93bf5144"
Contact Us - HFBoards - Archive - Privacy Statement - Terms of Use - Advertise - Top - AdChoices

vBulletin Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.
HFBoards.com is a property of CraveOnline Media, LLC, an Evolve Media, LLC company. 2014 All Rights Reserved.