Delete This Account Posted December 30, 2012 Share Posted December 30, 2012 So you're saying that based on Mark Gaughan's article this morning, we can take it to the bank that the Bills will fire both Nix and Gailey this week? no, if you read the article, nothing is clear. jw Link to comment Share on other sites More sharing options...
BuffaloBrad Posted December 30, 2012 Share Posted December 30, 2012 I think if he gifts the team to his children, than he would only pay the 35% tax rate if its done this year. The children would then have the asset at the current value and would only have to pay capital gains on the difference of value when they sell. So on a team worth ~800 Million, the savings would be ~160 Million dollars. So he could gift the team to his kids with the understanding that they should sell it when he passes. He can then be hired in a role which has ultimate control of the team assuming his children go by his wishes. Or they can appoint someone else to be in charge, but he still is the master who ultimately tells what the team should do. His kids can always fire people if they do not do what Ralph wants. I'm just speculating here, but it seems feasible to save a ton of money. How about this for an estate plan: Ralph borrows heavily against the value of the team. He uses this money to buy a series of large life insurance policies with his heirs as beneficiaries. When Ralph passes the team passes to his wife with no estate tax required due to the spousal exception. His heirs receive their inheritance tax free though the insurance policies, Hi wife sells the team, paying whatever the capital gains tax rate is at the time and retiring the debt that Ralph had accumulated. Will the capital gains tax rate be higher when Ralph passes than it is today? Probably yes as long as we have a Democratic president, but I don't think we'll see 35% again in my lifetime. I'd be willing to bet that we see capital gain rates back to 15% next time a Republican is in office and 0% is not out of the question. I'm sure Ralph's real estate plan is a fair bit more complex than this, but I'd be willing to bet that he won't pay a dime of estate tax. Link to comment Share on other sites More sharing options...
Mike in Syracuse Posted December 30, 2012 Share Posted December 30, 2012 no, if you read the article, nothing is clear. jw John, After watching Gailey for the last few weeks he seems like a beaten man. Do you see any chance that he just resigns? Link to comment Share on other sites More sharing options...
C.Biscuit97 Posted December 30, 2012 Share Posted December 30, 2012 Eric Wood @EWood70 “@TBNSully: Hear Ralph Wilson was in buffalo for team holiday party at hotel Lafayette last night” that is confirmed. He looked great Sal Maiorana @salmaiorana Confirmed Ralph Wilson was at Bills holiday party last night. Does that mean he's at game Sunday? Does that mean he's in town to drop ax? PTR My sources say Ralph was doing body shots off Jills & doing gangnam style. I'm glad to hear he is doing well. My aunt is 92 & is more with it than the majority of the population. Link to comment Share on other sites More sharing options...
mrags Posted December 30, 2012 Share Posted December 30, 2012 John, After watching Gailey for the last few weeks he seems like a beaten man. Do you see any chance that he just resigns? i would have said the same. Him and Nix both. They seem to be very irritated over the media questions and fans calling for their heads. It's definitely a possibility they both resign. Link to comment Share on other sites More sharing options...
The Senator Posted December 30, 2012 Share Posted December 30, 2012 I'm sure Ralph's real estate plan is a fair bit more complex than this, but I'd be willing to bet that he won't pay a dime of estate tax. Yes I think that's pretty much a given, seeing as how he'll be dead and all that... GO BILLSS!!!! (and take the Sabres with you!!!!!) Link to comment Share on other sites More sharing options...
BarkLessWagMore Posted December 30, 2012 Share Posted December 30, 2012 i would have said the same. Him and Nix both. They seem to be very irritated over the media questions and fans calling for their heads. It's definitely a possibility they both resign. Let's see, resign and get paid nothing or wait to get fired and receive the remainder of your contract. No way they resign. I am sure they are irritated because they are both human and no one likes their failures stuck in their face every day. And no way will a sale take place by tomorrow for tax reasons. Mary Wilson is in excellent health and far younger than Ralph and there will be many, many changes to the estate and capital gain laws before they will be relevant to her (at least unless something very unforeseen happens). Link to comment Share on other sites More sharing options...
BobChalmers Posted December 30, 2012 Share Posted December 30, 2012 How about this for an estate plan: Ralph borrows heavily against the value of the team. He uses this money to buy a series of large life insurance policies with his heirs as beneficiaries. When Ralph passes the team passes to his wife with no estate tax required due to the spousal exception. His heirs receive their inheritance tax free though the insurance policies, Hi wife sells the team, paying whatever the capital gains tax rate is at the time and retiring the debt that Ralph had accumulated. That would be brilliant, except for your basic premise which is ridiculous. Why would an insurance company sell LIFE insurance to a 94-year-old??? Link to comment Share on other sites More sharing options...
San Jose Bills Fan Posted December 30, 2012 Share Posted December 30, 2012 Let's see, resign and get paid nothing or wait to get fired and receive the remainder of your contract? No way they resign. Link to comment Share on other sites More sharing options...
BillnutinHouston Posted December 30, 2012 Share Posted December 30, 2012 Why would an insurance company sell LIFE insurance to a 94-year-old??? I could see the actuaries fall on the floor over that one. Imagine the premiums? Link to comment Share on other sites More sharing options...
papazoid Posted December 30, 2012 Share Posted December 30, 2012 Isn't elway the GM this year as well? I thought he canned the former. the broncos did not fill the GM role after Brian Xanders was let go by elway. Elway has final say on personnel decisions.....but xanders never had final say on roster decisions under Shanahan, McDaniels or Elway. elway had some previous experience running/owning an Arena Football League franchise AND has a year with xanders before letting him go. Jim Kelly has no such experience and would definitely need Whaley. Link to comment Share on other sites More sharing options...
mrags Posted December 30, 2012 Share Posted December 30, 2012 Let's see, resign and get paid nothing or wait to get fired and receive the remainder of your contract. No way they resign. I am sure they are irritated because they are both human and no one likes their failures stuck in their face every day. And no way will a sale take place by tomorrow for tax reasons. Mary Wilson is in excellent health and far younger than Ralph and there will be many, many changes to the estate and capital gain laws before they will be relevant to her (at least unless something very unforeseen happens). people resign. Mike Mularkey did. It happens. Link to comment Share on other sites More sharing options...
CodeMonkey Posted December 30, 2012 Share Posted December 30, 2012 (edited) Let's see, resign and get paid nothing or wait to get fired and receive the remainder of your contract. No way they resign. This. At most Gailey might tell Nix he is OK with being fired. No way either one give up that much money. people resign. Mike Mularkey did. It happens. Mularkey figured he would get another job. Gailey and Nix both know this is the end of the line for them. Edited December 30, 2012 by CodeMonkey Link to comment Share on other sites More sharing options...
mrags Posted December 30, 2012 Share Posted December 30, 2012 Mularkey figured he would get another job. Gailey and Nix both know this is the end of the line for them. Link??? Link to comment Share on other sites More sharing options...
NoSaint Posted December 30, 2012 Share Posted December 30, 2012 Link??? For which half? A young well resumed coach knowing its a fresh start? Or these two being at the end of the line? Link to comment Share on other sites More sharing options...
mrags Posted December 30, 2012 Share Posted December 30, 2012 For which half? A young well resumed coach knowing its a fresh start? Or these two being at the end of the line? either one. I'd live to see a link for what you claim. I'm not saying I don't agree with you. I'm just saying its happened before. Chan has clearly looked deflated at least half of this season. Link to comment Share on other sites More sharing options...
NoSaint Posted December 30, 2012 Share Posted December 30, 2012 (edited) either one. I'd live to see a link for what you claim. I'm not saying I don't agree with you. I'm just saying its happened before. Chan has clearly looked deflated at least half of this season. I'm not the one claiming it impossible - just that its an odd spot to draw the line in the conversation with "link?" Both assertions seem pretty reasonable. It's the way further up the chain of claims the issue may lie Edited December 30, 2012 by NoSaint Link to comment Share on other sites More sharing options...
mrags Posted December 30, 2012 Share Posted December 30, 2012 I'm not the one claiming it impossible - just that its an odd spot to draw the line in the conversation with "link?" Both assertions seem pretty reasonable. It's the way further up the chain of claims the issue may lie sorry Saint. Wasn't paying attention to who wrote what there. Link to comment Share on other sites More sharing options...
NoSaint Posted December 30, 2012 Share Posted December 30, 2012 sorry Saint. Wasn't paying attention to who wrote what there. No prob - he could resign. I wouldn't expect it, but he may value his sanity and happiness over a modest contract at this point. Don't know how he's feeling behind closed doors. Link to comment Share on other sites More sharing options...
bbb Posted December 31, 2012 Share Posted December 31, 2012 The Kick Is Good @TheKickIsGood I'm a desperate, desperate man for the Bills to be a winner. If you are too, take a rea fo this: http://boards.buffalobills.com/showthread.php?447105-(w-very-good-source)-HUGE-Ralph-Wilson-STATEMENT-NEWS!!!!!!!-READ … Retweeted by Trending Buffalo Link to comment Share on other sites More sharing options...
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