NFL owner Mafia meeting drama

[n6249c]

That's still completely theoretical. No bank is going to want to be responsible for holding your $1b, and the FDIC only insures up to 250k per bank account so you'd still be at risk. You'd have to spread it out across at least a dozen giant financial institution whose finances will not get messed up handling money of that size, assuming that's what you want to do. Transferring huge sums of money is a special hell of its own, as Bezos's ex is finding out. She has a team of financial managers working full time just managing her assets, and there's absolutely no way for her to know if any of it is being skimmed off. It's a giant time suck any way you put it.

Not all that difficult. You really shouldn’t be holding enough cash positions for FDIC to matter to you. You’ll be more concerned with SIPC. But really at that scale you should just be investing in the economy, all you need to do is spread that nest egg around across a diversified portfolio of professionally managed investment vehicles. Don‘t need lots of money managers, diversify across large mid and small cap growth and value funds, and don’t forget international and fixed either. Invest directly with the funds wherever possible, set up a couple of accounts with big financial services firms for others. For ease of selection just put $10 or $20 mil in each of the five top Morningstar selections in each sector. At $20 mil each that’s about 80% of your nest egg, just put the rest into BRK.A and call it a day, then sit back and cash dividend checks while you enjoy living your best life.

problem is people get greedy. They try to turn that billion dollars into a trillion. Or they try to avoid paying taxes on what it earns. Look at it this way, if you can get 15% annual rate of return on that billion dollars your income is $150million, even if you paid 50% tax rate (wildly unrealistic but for sake of illustration) you end up with $75million clear. Trying to avoid that is what drives Bezos’ ex to hire all those money managers, and all it means is she pays them instead of the tax man.

I‘d take the billion, set up a couple of shell corporations and LLCs to obscure beneficial ownership, retain an attorney for a couple of anonymous real estate transactions in various parts of the country, register my new airplane using the provisions for the FAA to keep details private, and live quietly with minimal problems. The problems come from being greedy or seeking attention. If you can resist those you can avoid the problems usually associated with wealth. At least that’s my theory, and I’m willing to test it as soon as somebody gives me the billion dollars to start testing…

 

[Kontradiction]

Could we throw in the Kartrashians too?

Save Kourtney. Outside of that? Sure.

 

[PP2]

I‘d take the billion, set up a couple of shell corporations and LLCs to obscure beneficial ownership, retain an attorney for a couple of anonymous real estate transactions in various parts of the country, register my new airplane using the provisions for the FAA to keep details private, and live quietly with minimal problems. The problems come from being greedy or seeking attention. If you can resist those you can avoid the problems usually associated with wealth. At least that’s my theory, and I’m willing to test it as soon as somebody gives me the billion dollars to start testing…

Good luck with that.. haha

But either way, as I said, it's still a giant time suck since you're involved in all those complex transactions in addition to keeping track (and worrying) about your humongous assets.

Me, I'd rather have just enough wealth for financial independence so I don't have much to keep track of.

 

[lancerman]

100% agree.

But I've noticed a trend on this board : "he is rich, so he knows more than you" or "you would trade places with him in a heartbeat, because of $"... So I think many patsfans do think money and wealth is a redeeming quality. Obv you and I don't.

In general American culture worships wealth and acts like it’s some equalizer in debates. Instead of propping up scientists, engineers, physicists, and philosophizers as our cultural leaders, it’s a bunch of businessmen who were in many cases in the right place at the right time to capitalize on some opportunity most will never see

I’m not one of those people to demonize wealthy people like some, but I find it gross that it’s some mega standard that some people believe wiped away criticism. It doesn’t take a rocket scientist to realize most of the millionaires running the NFL are bumbling dolts who made two or three good decisions and think they are second to god in omnipotence.

I think the worst is when people say “well this billionaire gave more to charity and did more good than you ever will”. Which is just a gross way of equating wealth with moral superiority

 

[Art_Vandelay421]

a scene from a famous movie I'd love to see reprised

"Goodell?...oh...you won't see HIM anymore..."

Joker, I think you’re the expert on this, When Goodel first came on as Commissioner Didn’t he lead everyone to believe that he was a lawyer and never dissuaded that perception.

 

[farn]

In general American culture worships wealth and acts like it’s some equalizer in debates. Instead of propping up scientists, engineers, physicists, and philosophizers as our cultural leaders, it’s a bunch of businessmen who were in many cases in the right place at the right time to capitalize on some opportunity most will never see

I’m not one of those people to demonize wealthy people like some, but I find it gross that it’s some mega standard that some people believe wiped away criticism. It doesn’t take a rocket scientist to realize most of the millionaires running the NFL are bumbling dolts who made two or three good decisions and think they are second to god in omnipotence.

I think the worst is when people say “well this billionaire gave more to charity and did more good than you ever will”. Which is just a gross way of equating wealth with moral superiority

My brother is a fisherman. Around here, all the fishers are super wealthy. I’ve heard him say on several occasions, when someone within earshot a praising the community involvement of another local, that HE has done more than they ever will. Because he pays so many taxes. Despite being a selfish me-first, he’s convinced he’s Teresa of Calcutta.

 

[lancerman]

My brother is a fisherman. Around here, all the fishers are super wealthy. I’ve heard him say on several occasions, when someone within earshot a praising the community involvement of another local, that HE has done more than they ever will. Because he pays so many taxes. Despite being a selfish me-first, he’s convinced he’s Teresa of Calcutta.

I’ve rubbed elbows with a few billionaires, that’s the sentiment I usually get. Penny pinch the **** out of everything and then stand on the biggest soap box when you give up what is the equivalent of pocket change to you.

 

[JarOfMayo51]

Can't say "none of us". I don't want 1B$. FOr me : the problems that ensue aren't worth the cash considerations.

not me, a billion dollars affords you having a team that deals with all of those problems that ensue for you. With that kind of money you could do something that impacts the world

 

[JarOfMayo51]

Your post was totally excellent, but in particular you stuck the landing.

It just seems each new owner that comes along is more of a grifter than the last.

People like Kroenke, the Pagulas, the Wilfs, Shad Kahn, David Tepper, on and on and on.

Just a bunch of money grubbing grifters, IMO.

typically the people who become billionaires have all kinds of narcissistic and sociopathic traits that help get there

 

[JarOfMayo51]

A question i have is if goodell tried the deflate gate BS on Jerrah, or Kroekie what would they have done. Bendover Bob just went a long with the whole charade, and was humiliated Would those guys have sued the league?

Jerry Jones would have never allowed Deflategate to happen

 

[JarOfMayo51]

Sounds atrocious. I prefer my time, a much more valuable asset. I’m prejudiced against non-profits. Most of them are just corrupt and very little of their profits go to a charity. Still pass. Just the thought of needing to hob knob with the pretentious rich folk…

my wife worked in a lot of non-profits for awhile, most of that charity money gets funneled up to the executive leadership. A CEO making $500,000 a year who works 10 hours a week type stuff. Its repulsive.

I have an uncle that works in the homeless shelters, and those things are a racket for the upper management who can make $100k+ and never have to show up or do much of anything. There's barely any oversight since its a homeless shelter filled with homeless people, but those are just two anecdotal examples of tax money being siphoned by corrupt practices, which is purely driven by capitalist greed.

There is corruption everywhere, most of the time being perpetuated with taxpayer money. Capitalism was derived before the invention of the steam engine, it really needs to be examined further because we can't continue on our current course, where "fiduciary responsibility" is the magic term that justifies all decisions made in the the name of profit. Companies for decades have been practicing planned obscolescence, intentionally making ****ty products that won't last long so people will have to buy another sooner, which just from a long term lineline point of view where resources of finite and pollution is abound, is an absolutely insane practice and very obviously unsustainable.

When do we finally call a timeout? How much money has to be made before things change? Or maybe they never change, I could see 200 years from now theres like 1 fresh lake/river system left keeping X millions alive.. and some account executive in a corporation is like "well, we could increase our quarterly earnings from last year by 2.7% if we just dump our sludge into the river system. Its my fiduciary responsibility to our shareholders to do this! I must make them more money!"

We're slowly destroying ourselves

 

[Bill Lee]

I think about this from time to time, that now a days sports is all about making money, especially the NFL. The league will squeeze every last penny out of the fans. From spreading the draft over three evenings, to not allowing anyone to post a clip of a game, to suing bar owners that don't pay up to show the game (at least i remember that happening a few years ago. In baseball there are no longer day games in the playoffs, so the owners can make the biggest profit by having the games in prime time. Its all disgusting to me.

The NFL is embracing NBA-ism.

Adding playoff games just because they are a cheap payday for owners, yet they dilute the importance of the regular season. Adding a 17th game with an 18th clearly in sight means that less meaningful regular season gets extended so people get more exposed to meaningless games and ask themselves why they bother watching. Players say why play hard in a game that means less, what matters is extending my career, so the quality goes down. Injuries take the same amount of time to heal so each season-ending injury impacts more games.

All this could be avoided by simply being content with the huge cash flows the owners are all already enjoying, but that's not how the mind of a money grubbing grifter works.

Sycophants like Goodell are just blood sucking leeches taking out their money in real time, and when it all collapses like the NBA did they'll have all their money in safe places already and just say they were doing what the owners wanted.

 

[BTTA]

my wife worked in a lot of non-profits for awhile, most of that charity money gets funneled up to the executive leadership. A CEO making $500,000 a year who works 10 hours a week type stuff. Its repulsive.

I have an uncle that works in the homeless shelters, and those things are a racket for the upper management who can make $100k+ and never have to show up or do much of anything. There's barely any oversight since its a homeless shelter filled with homeless people, but those are just two anecdotal examples of tax money being siphoned by corrupt practices, which is purely driven by capitalist greed.

There is corruption everywhere, most of the time being perpetuated with taxpayer money. Capitalism was derived before the invention of the steam engine, it really needs to be examined further because we can't continue on our current course, where "fiduciary responsibility" is the magic term that justifies all decisions made in the the name of profit. Companies for decades have been practicing planned obscolescence, intentionally making ****ty products that won't last long so people will have to buy another sooner, which just from a long term lineline point of view where resources of finite and pollution is abound, is an absolutely insane practice and very obviously unsustainable.

When do we finally call a timeout? How much money has to be made before things change? Or maybe they never change, I could see 200 years from now theres like 1 fresh lake/river system left keeping X millions alive.. and some account executive in a corporation is like "well, we could increase our quarterly earnings from last year by 2.7% if we just dump our sludge into the river system. Its my fiduciary responsibility to our shareholders to do this! I must make them more money!"

We're slowly destroying ourselves

So a good deal of my time is spent consulting to nonprofits, and my experience is that this is far and away the exception, not the rule. Unfortunately, just like in sports, the click bait based media creates a false narrative of normalcy for this.

And as to urban executive directors making "$100K"...that's less than plumbers wages for a job that typically takes 50-70 hours a week and is filled with extreme challenge and lots of misery. You couldn't possibly get a highly qualified and capable person to take those jobs if you paid less.

There is a distinction between "service" nonprofits (filling a need created by the structures and choices of society, such as homelessness and hunger) vs. "social change" nonprofits (changing society so the problems don't get created in the first place). People have preferences about which they like, and that's find.

And I'm with you on the environmental problems. We have two decades to reverse a handful of decisions we are making collectively, or it is pretty much game over. But that's not really the fault of the nonprofits, that's our fault from a policy standpoint.

 

[BTTA]

Regarding Goodell and his role in relation to the owners, one of the comments from this article Rob Manfred Reaches A New Low | Defector nails it pretty well:

The primary role of a sports commissioner is to ensure that the obscenely wealthy men who employ you never look like the dumbest guy, or the biggest axxhole, in the room. That's job one at all times. Unfortunately, basically all of them are in fact genuinely colossal axxholes and many are deeply, deeply stupid. At any given time, at least one of them will be in the process of taking a giant xhit on the floor in full view of the public. As the commissioner, your primary qualification for the job is being cynical enough to devour that pile of xhit, insist in the press that it was chocolate ice cream, and ask for seconds.

 

[PatsWickedPissah]

The environment in the US is far cleaner (rivers & air) than it was in the 50s & 60s. Great progress. US emits less CO2 today than the 90s.
Biggest improvements in the environment is in the former Iron Curtain communist countries which were environmental disasters.
Yet folks with no sense of history, say pre-Brady want to dismantle the US system.
Best to fix the many remaining dysfunctional parts and continue the progress.

Back to football.

 

[Joker]

Joker, I think you’re the expert on this, When Goodel first came on as Commissioner Didn’t he lead everyone to believe that he was a lawyer and never dissuaded that perception.

100% correct...Roy Firestone said in an interview with Goodell in 2009 ,to quote "Roger , as a lawyer you have responsibilities in crafting league rules....etc etc etc". Goodell sat there nodding his head. Never corrected Firestone. THAT is just ONE instance where he's put himself out there in the media as a "lawyer". I accessed his records at Washington and Jefferson where he matriculated...he claimed he graduated magna cum laude in business. The truth is he graduated with a C average in a no frills business curriculum. Goodell is a pathological liar and always has been

 

[reflexblue]

The NFL is embracing NBA-ism.

Adding playoff games just because they are a cheap payday for owners, yet they dilute the importance of the regular season. Adding a 17th game with an 18th clearly in sight means that less meaningful regular season gets extended so people get more exposed to meaningless games and ask themselves why they bother watching. Players say why play hard in a game that means less, what matters is extending my career, so the quality goes down. Injuries take the same amount of time to heal so each season-ending injury impacts more games.

All this could be avoided by simply being content with the huge cash flows the owners are all already enjoying, but that's not how the mind of a money grubbing grifter works.

Sycophants like Goodell are just blood sucking leeches taking out their money in real time, and when it all collapses like the NBA did they'll have all their money in safe places already and just say they were doing what the owners wanted.

Another thing that needs to be mention is expansion, expansion dilutes the talent pool, which results in a decrease in the quality of the product e.g. the game. Take the NBA, i read in the last couple of years that to win a title all a team needs is Three stars, because the talent is so watered down across the league on a whole. That would have never been the case in the past.

 

[RobertWeathers]

Another thing that needs to be mention is expansion, expansion dilutes the talent pool, which results in a decrease in the quality of the product e.g. the game. Take the NBA, i read in the last couple of years that to win a title all a team needs is Three stars, because the talent is so watered down across the league on a whole. That would have never been the case in the past.

Yep. It all started in the late 80s with the expansion to MN, MIA, NC and TOR. Plus the cap was implemented in 1985 and it took a few years for teams to figure out how to play with it.

Back then you needed 4 All-Stars to win a title or 3 HoFs.

Now it's 3 All-Stars or 2 HoFs.

 

[farn]

Yep. It all started in the late 80s with the expansion to MN, MIA, NC and TOR. Plus the cap was implemented in 1985 and it took a few years for teams to figure out how to play with it.

Back then you needed 4 All-Stars to win a title or 3 HoFs.

Now it's 3 All-Stars or 2 HoFs.

The counter would be that your country has added over 100M people since the mid eighties and that number of citizens should make up for the four added teams. Both in fans and talent.

To add : teams are much smarter about building a roster and FA has also played a huge part. Steroids and trading play a role as well. No one would ever suggest the 2019 Raptors are anything more than a VG champ. But they would wipe the floor vs dynasties from 40+ years ago. Wouldn’t even be close.

 

[RobertWeathers]

The counter would be that your country has added over 100M people since the mid eighties and that number of citizens should make up for the four added teams. Both in fans and talent.

To add : teams are much smarter about building a roster and FA has also played a huge part. Steroids and trading play a role as well. No one would ever suggest the 2019 Raptors are anything more than a VG champ. But they would wipe the floor vs dynasties from 40+ years ago. Wouldn’t even be close.

To add to your point, the international talent pool has increased both in numbers and quality since the early 90s. Not that many HoFs but certainly some All-Stars.

I would agree the 2019 Raptors would give the 1987 Lakers all they could handle but I don't think as much as people think. Defense is not existent now and I don't particularly think the skill level now is better then. Physically no question. A GOAT defender like Michael Cooper would still have serious problems and nightmares facing Kawhi Leonard.