jo39416
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Posts posted by jo39416
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Now that reporter is really persistent. Your interview subject falls out, keep plugging away.
I think thats Trev Alberts. Whos is a compelte !@#$.
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Following that logic, why would anyone buy a ballcap, or a t-shirt, or a logoed product of any sort? Sorry, I'm having a hard time figuring out what is so "surreal" about buying a jersey representing one's favorite team.
I agree, and building upon your logic, why go to games? Why watch grown men play a sport? Why are we even here at all? Why not just end it all right now!?!?
Seriously though, its a sport and meant to be fun and entertaining, which is why people buy items such as jerseys.
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Heirs' tax basis becomes the market value at time of Ralph's death, instead of Ralph's tax basis of $25k. Ralph's heirs would avoid paying 15% capital gains on the sale price less $25k, saving approximately $150m.
The Heirs tax basis will be stepped up after the estate taxes are paid on the transfer of wealth. The family is not wealthy enough to pay the taxes, which is why the team will be sold.
UNLESS there has been some significant tax planning done starting in the mid 90's. If Ralph had the foresight to put his interest in a flow through - preferably an LLC and started gifting his membership interests then he could have effectively transferred a significant portion without significant (relatively) tax cost.
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Here's one for the financial experts. My buddy firmly believes that Ralph hocked the Bills long ago in order to enjoy his equity now, and once he passes we'll find out a couple of dozen banks hold paper on the team as collateral. That's one reason, supposedly, he won't sell now. He'd have to open his books and the jig would be up.
My buddy thinks it's a brilliant strategy, essentially dodging any capital gains on the ever-climbing value of the Bills. Anyone here with a financial background care to comment?
PTR
Disguised sale rules would prevent that.
There may be something to this. He may have needed to do this just to have the working capitol to run an NFL team.
But, this is what all smart business people have been doing for years, partly because the banks allow them to and partly because of the US tax system being a complete joke. Working for the Glazer family (Owners of the Bucs and Man U.) has opened my eyes to this amazing business model.
I work for a commercial real estate company that owns shopping centers as separate entities. Our company would buy a shopping center, then refinance it as much as possible, essentially getting 100% or more in most cases of the money invested in the center back out. As the value of the properties rose, we could refinance again and get some more millions out of the property – we essentially get paid millions to buy a shopping centers. Then when the housing market tanks, and the places are severely over-leveraged, we can walk away with non-recourse loans and just found the corporation. If we had to sell the centers, we would have to pay taxes on the gains, AND pay back any depreciation that was written off during the years we owned them. This is what they have done with the Bucs and Man U. Both are almost 100% leveraged.
For example, the Glazer's bought the Bucs for 195 Mil in the 90's. Now its worth what, 800 mil at least? In 15 years they have made about 600 mil through refinancing the percieved value of the team, and still own the team. They didnt have to sell the team or pay taxes on the 600 mil in profit, because its not profit - they have a bank note for the equal value of the money they are taking out.
This is the same model that has made Donald Trump millions. Ever notice how a lot of his casinos and buildings go bankrupt? People seem to make fun of him for this, but he is really out smarting them and everyone else. He builds these assets out of nothing, refinances the crap out of them, making millions in the process, then defaults on a non-recourse loan. All that “profit” is not taxed as income (it may be taxed a much smaller amount based on state law at the time of refinance) and he doesn’t have to pay back any written off depreciation.
This could work for your house too. you can get up to 85% of the value of your home out in a refinance. Do the math, it may be more profitable for you to default on a loan than sell!
Ralphs heirs may not be planning on selling, they may be planning on defaulting!
Generally this is not true - you would have income from "forgiveness of debt" - unless you went bankrupt - in which case you would have to prove you legitimately do not have the assets to pay back the loan AND even in that case if you have not been very diligent it is possible to pierce the corporate veil and go after your personal assets.
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Positions Wanted: QB, FB, TE, WR, OT, OG, C, DT, OLB, ILB, CB, FS. 12 Positions With 9 Picks. Less Priority on FB, OG, & C
1a Marcell Dareus DT 6-3 319 Jr Alabama
1b Cam Newton QB 6-5 248 Jr Auburn
1c Blaine Gabbert QB 6-4 234 Jr Missouri
2a Christian Ponde QB 6-2 229 Sr Florida State
2b Stephen Paea DT 6-1 303 Sr Oregon State
2c Kyle Rudolph TE 6-6 259 Jr Notre Dame
3a Luke Stocker TE 6-5 258 Sr Tennessee
3b Sam Acho OLB 6-2 262 Sr Texas
3c Jordan Cameron TE 6-5 254 Sr Southern California
4a1 Rob Housler TE 6-5 248 Sr Florida Atlantic
4a2 KJ Wright OLB 6-3 246 Sr Mississippi State
4a3 Kelvin Sheppard ILB 6-2 250 Sr LSU
4b1 Ross Homan OLB 6-1 240 Sr Ohio State
4b2 Jah Reid OT 6-7 327 Sr UCF
4b3 DeMarcus Love OT 6-4 315 Sr Arkansas
5a Buster Skrine CB 5-10 186 Sr Chattanooga
5b DeMarcus VanDyke CB 6-1 176 Sr Miami(Fla.)
5c Deunta Williams FS 6-2 205 Sr North Carolina
6a Anthony Sherman FB 5-10 242 Sr Connecticut
6b Mark LeGree FS 6-0 210 Sr Appalachian State
6c Ricardo Lockette WR 6-2 211 Sr Fort Valley State
7a1 Henry Hynoski FB 6-0 257 Jr Pittsburgh
7a2 Aldrick Robinson WR 5-10 184 Sr Southern Methodist
7a3 Schuylar Oordt TE 6-6 261 Sr Northern Iowa
7b1 Ryan Bartholomew C 6-1 302 Sr Syracuse
7b2 David Arkin OG 6-5 300 Sr Missouri State
7b3 Shaun Chapas FB 6-2 247 Sr Georgia
Just say yes to LeGree - dude is a ball hawk - although I would rather have D.J. Smith out of App State
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Sam Bradford was a no brainer in my opinion. And he ain't no Sam Bradford
Impressive rebuttal
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Fk Yeah!
Was gonna say it sucked not being able to watch it...who cares! Fk yeah!
Spectacular Swede!
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Yet another misinformed. While I agree wholeheartedly that the NFL should not receive one time of taxpayer money, you really might wish to consider what others pay in taxes around the world. The USA is actually on the low end individually. Where we have higher rates is in corporate rates, yet this isn't very meaningful when companies like Exxon and GE (and a host of others) paid nothing, zero, nada in 2009. In fact while GE paid zero, they also gained 1.1 Billion in credits. Our corporate rates should be lowered, but to pay ZERO?
Our corporate tax rates - if lowered - should be offset by a reduction of deductions (or "write-offs") available to corporations.
People who focus on the corporate tax rate in the country should shift their focus elsewhere – to tax revenue as a percentage of overall GDP. This shows a more clear picture of how we tax our corporations. When compared to other developed countries - we have the fourth lowest percentage in the world (about 26% - behind Mexico, Turkey and Korea).
By simply reducing the corporate tax rate and reducing the deductions available to our corporate tax base - we would effectively lose out of ways to incentivize companies to perform certain activities (i.e. produce in the USA as opposed to overseas)
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Take the Dick Cheney references to PPP where it belongs. Only football and dirty jokes here.
I agree with both of you.
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"Oh look, they're little footballs!" "Laces out!"
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FRANK RIECH ought to shut the **** up!..go back and watch the kick..when "Wrongway REICH " placed the ball ,he forgot to turn the laces..they were facing him .the right way is to turn the laces forward,,.if the laces are not turned the ball tends to drift towards the laces ,in this case to the right!
Revisionist history is interesting but the fact is REICH NOT NORWOOD screwed the pooch!
I assume you are joking ray finkle.
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Armanti Edwards was already drafted last year, by the panthers...
And he was drafted in the third round...
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I read somewhere (I think Yahoo) that it was a tribute to his Grandmother that recently died.
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Man, it's clear that following this Bills team has flat-out mentally whipped some of you guys. The Bills FO just landed a big fish (pardon the pun) - a well-established, playoff proven, SB-winning defensive mind, and ya'll go on obsessing (with no inside info, mind you) over how George Edwards is going to remain the boss of the defense.
Can we not just take a breath and be happy that we landed an established coach to shore up the defense?
Clearly no.
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Good. That makes my day.
Go Packers.
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aaannnnnnnnddddd. FAIL.
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For those that arent aware, Moats won the Buck Buchanan award, which is awarded to the best defensive FCS (1-aa) player.
Keep in mind, he played DE last year and is still learning the position!
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Is it possible to be in love with an avatar?
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lol, some of these are awesome and I'll definitely consider naming a pet after a Bill someday. Both my current dogs are girls and therefore have girl names.
I did have a red, white, and blue bong back in college that I called "Andre Weed" though...
My dog is a girl - and her name is Kelly
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My guess is that you were referring to my post about Peerless Price - Named my dog Kelly. I figured it would be weird naming my child after a football icon.
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Wow, I liked Peerless (and his name) enough to put him in the final 3 names for my dog.
Kelly thanks me for my decision
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I don't want NOTHING to do with Newton. NOTHING.
Why?
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Wow. Got to admit I am surprised by this. Really a classy, nice thing to say.
I wish more people were like this on a daily basis.
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I didn't think he caught the ball. I would have challenged. Polamalu is awesome...he's so awesome he's even allowed to give helmet to helmet hits and not get called for them.
100% agree- was screaming at the TV when he hit evans on the game tying drive. Not sure how that wasnt called.
Ex-Bill LS Jon Dorenbos was on Philly Radio Show
in The Stadium Wall Archives
Posted
If I recall correctly - I'm pretty sure his mom was murdered by his dad?