BOHIC

[GROUCHO MARX]

There are many NBA francises that lose money, Gary. There are always egotistical fools willing to pony up money and buy a bad business.

Then they try to extort a new arena with tax breaks from the locals. After this fails in one manner or another, they move the franchise to another locality (with the appropriate amount of taxpayer perks, arenas, etc.) or find the next fool in line who will pony up money.

 

[Gary Allan]

Quote:
There are many NBA francises that lose money, Gary.

I didn't say "lose money". I said "fail". So far I don't think I've ever seen a franchise retired from existence.

Quote:
There are always egotistical fools willing to pony up money and buy a bad business.


I've always viewed them as a "pet". Sorta like race horse ownership. One of those marks of distinction for our tower strata dwellers ..or tower strata wannabeez.

 

[Steve S]

Originally Posted By: brianl703
So, how well did relaxing the lending standards (to increase home ownership) work out?
It worked out well, people who couldn't afford houses bought them and proved that they really are too stupid to own a house. And like the stock market many people made lots of money.

 

[Steve S]

Originally Posted By: tpitcher

How else is the 85 BILLION going to help anyone else but the Executives at AIG ??

Will it do much more that MAINTAIN THEIR GOLDEN PARACHUTES ??

THESE EXEC’S SHOULD NEVER GET INTO A BUSINESS AGAIN !!

They’ll have Millions to comfort their souls.

IT’S A REWARD FOR BAD BEHAVIOR !!

We need to allow these Companies to go down and suffer. They’ll be other Companies to take their place.



It’s like giving money to a compulsive gambler in a Casino !!!
How many execs ran a fair company into bankrupcy got the golden parachute then were rehired by another corp .

 

[Turk]

Many execs I'm sure!

 

[Shannow]

Look at the execs at Barings.

They knew leeson was trading outside his authority, and all but encouraged it. When they went [censored] up due to "one rogue trader" they all got their "contracts" fulfilled.

 

[GROUCHO MARX]

Gary, no business "fails" when there's a fool willing to buy it.

The baseball team in Montreal "failed" but still exists in D.C. after the league assumed ownership.

One reason the leagues won't allow "failure" is that it affects the value of all of the franchises. They are not individual ownerships in the true sense of the word.

 

[Gary Allan]

Quote:
Gary, no business "fails" when there's a fool willing to buy it.


That goes without saying. You could also say that no business fails when someone else sees value in it.

..but that is a contemporary technique. You merely charge a high ante to "get in" under the old reliable "opportunity has its price" garbage ...by taking most of the worth in any chance at opportunity ...and then that person does the same.

 

[GROUCHO MARX]

"That goes without saying. You could also say that no business fails when someone else sees value in it."

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Throw in the anti-trust exemptions and failing becomes more difficult.