How did Daniel Snyder get rich?

[stwasm]

I'm not a big Dan Snyder fan, but after reading that article, I have to respect him for the hard work he put in to make himself into what he is today. He's obviously a very driven individual and it's paid off.

[stwasm]

:mad: dont forget about $300 jerseys.

I always brought the authentic jersys and Lavar will be my last. I will buy a $60 Tshirt instead. :doh:

If you're going to buy a jersey, go with a throwback player, instead. It will save you LOTS of aggravation when the player signs elsewhere or is released. Bobby Mitchell, Art Monk, Doug Williams and John Riggins immediately come to mind.

[rictus58]

wow.....no ethnic inferences....

I stand impressed. :applause:

That is Len Pastabelly's turf.

[Dan T.]

Daddy funded his first venture which he started in his dorm room....

"With a loan from daddy" implies that he came from money, and the fact is he didn't. His dad was a journalist and freelance writer.The family lived in a rented apartment in Montgomery County. So to imply that he got some big seed money from pops is false.

Excerpt from a rather dated article gives some interesting background. (Snyder's dad has sinced passed on. . .)

From the Washington Post

February 16, 1999

A-1

A Father's Example

Ask Dan Snyder who he is, and the first words out of his mouth are about his father.

Gerald Snyder -- a journalist and Dan's sidekick in early business ventures -- is "really a fantastic friend of mine," says the son, though both make a point of just how different they are. Daniel Snyder says he lacks his father's creativity. Gerald Snyder jokes that his son's raw business talent "didn't come from me."

But Gerald Snyder's influence is unmistakable in the younger man's be-your-own-boss mentality, his willingness to take risks, his appetite for adventure. Some of Dan's "spirit for life," friend Tony Roberts said, "came from his father -- if you work hard, things will work."

Gerald Snyder, now 65, worked most of his life as a journalist and freelance author, turning out more than a dozen books.

A 1958 University of Missouri graduate, he freelanced in Europe and met his wife, Arlette, who is French, in Casablanca, Morocco. They lived in Madrid, but once Dan's sister was on the way, the couple moved to Snyder's native New York, where he went to work for United Press International. The family's next move was to Silver Spring, when Dan was 2, and Snyder took a job at National Geographic.

Four years later, Snyder chucked the stability of a paycheck and struck out for the feast-or-famine life of freelancing. "There was something in my own nature . . . where I was happiest working for myself," Gerry Snyder recalls.

Dan Snyder remembers the frustrations and struggles of those years, when his father would write corporate research briefs to pay the bills. When he got an assignment, "it was a big thing, 1,500 bucks." He admired his father, and the experience "made me stronger, I think, just to watch him with the trials and tribulations."

The family was always close. On Sundays, there were "football picnics" in front of the TV, where Arlette Snyder would spread a blanket and serve up hot dogs and sandwiches. Later, when Dan was in high school, his pal Roberts said he would join the group and Arlette would cook "her Redskins chili."

The elder Snyder encouraged Dan in his earliest ventures and willingly played junior associate.

When Dan Snyder started Sports Tours, Dad wrote the travel fliers. When it came to Campus USA magazine, Gerry was editor, writer and columnist, sometimes using pen names to disguise the fact that at first he was "the entire editorial staff," as Roberts recently joked.

Snyder already recognized the need to make his son-and-pop outfit look like a player to the Fortune 500 clients he was chasing. The solution? "There was a certain degree of puffery . . . never to the extent of anything unethical," says Gary Frahm, a former Snyder marketing executive and now a publisher in Baltimore.

Snyder knew this drill well. Back when he and Roberts answered the phone in his bedroom for Sports Tours, Roberts recalls, they'd tell callers to wait while they connected them to another department, then put them on hold, pause and return to the call themselves. To add cachet, Campus USA -- a slick publication aimed at college students -- carried a $ 1.75 price tag on the cover, even though it generally was free.

As for college, Dan Snyder was "a little bored" by it. After graduating from Woodward in 1982, he took business, speech and drama courses at Montgomery College, then dabbled in physical education and business at the University of Maryland for a few semesters. That was it. "He never dropped in enough to be a dropout," his father recalls.

While some fathers might have scolded or preached, Gerald Snyder had a gentler philosophy. "I always felt that you can push, but you have to push along the interests of the student." Dan, he said, was not "very academic, he was very smart."

He added, "He was just a natural businessman."

Snyder vividly recalls a day when "Danny," as he still calls him, laid out plans for a new magazine all over the living-room floor. "I would have . . . preferred to fiddle around with the presentation," the father recalled. "He was impatient. . . . The next thing I knew, he got an office" and started publishing. "I was in awe."

Dan Snyder's thank-you to his dad was awesome, too -- nearly 4 million shares of Snyder Communications stock, which his father sold for $ 60 million in 1996 when the company went public.

[DCBnG21]

Daddy funded his first venture which he started in his dorm room....

"Dan Snyder says he cleared $1 million running business out of his parents' bedroom with one friend and couple of phone lines. "

-- So what.... a couple of phone lines, and one friend in the basement of his house? That ain't much funding, and I doubt much more than 50% or more of Dad's would give up for their kids.

I'll bet my Dad funded that much in just misc activities for me....and he wasn't exactly mr. money. I have friends that probably got more than that from their Dad when they got their first car.....

I doubt he put up the money for the leased planes out of pocket...generally with a big group like that, you arrange the lease, and then go out and people are required to pay their ticket before a certain date... I doubt he had that much out of pocket on that...

[Air Force Cane]

dude- you are just WRONG..

it was not "daddy's money" since his family was simply middle class. it was his own idea and getting Mort Zuckerman to invest. Then he lost all his money, then he started again.

You are revealing your own jealousy by maintaining it was nothing he did by himself- and his natural talents and hard work.

[Thanos]

How in the world can you get cash to lease jets as a teenager?

[Air Force Cane]

How do you get cash to start up restaurants? or to start up a dry cleaning company?

My guess would be banks and venture capitalists looking to invest in new business..

how does anyone start any new type of business in a capitalist system?

[Thanos]

AF cane,

Teen agers don't lease jets.

[Air Force Cane]

They do when you are as smart as Dan Snyder is:

www.forbes.com

"While still a teenager, Snyder showed a deftness for dealing with his elders. As a college student he hit upon the idea of marketing a national magazine called Campus USA to his peers. They'd get it for free, but advertisers would surely pay to reach an elusive demographic. Many prospective entrepreneurs fantasize about such businesses, but Snyder talked publisher and financier Mortimer Zuckerman into backing him with $3 million, dropped out of the University of Maryland, and began his rapid ascent. "Instead of being in school, he was having meetings with people twice his age, doing business," says Karl Swanson, the Redskins' senior vice president. "He's used to dealing with successful older people. He's been doing it for years."

As it happened, the magazine idea flopped, but Snyder impressed Zuckerman. Before long, they were making money in the billboard business, and Snyder was on his way. He launched Snyder Communications in 1990, and grew his bankroll incrementally by delivering narrowly targeted markets, such as new mothers and diabetics, to advertisers. In 1996 he took the company public, becoming at the time the youngest chief executive on the New York Stock Exchange, and he used investors' money to put 30 companies with a combined value of more than $1 billion under the Snyder Communications umbrella."

[DeanCollins]

yet another example of self made billionaire (like Gates) that didn't need a stinkin' college degree

[Air Force Cane]

Gates did go to Harvard and is a literal genius..

a little different scenario from your typical dropout from East Tennessee State.

[Rocky21]

Companies To Pay $3.1 Million To Settle Slamming Allegations

TALLAHASSEE -- A telecommunications company and its former marketing agent will pay $3.1 million to settle allegations that they switched consumers to the company's long-distance telephone services without permission, Florida Attorney General Bob Butterworth announced today.

Verizon Select Services Inc., formerly known as GTE Communications Corp., Verizon Florida Inc., and Snyder Communications Inc., including Snyder Direct Services Inc. and Snyder Communications LP, agreed to the payments without admitting any wrongdoing.

The attorney general alleged that unauthorized long-distance provider switching, known commonly as "slamming," had been carried out by Snyder Communications on behalf of GTE/Verizon, as well as by the telecommunications company's own sales personnel.

"In the case of Snyder Communications, our investigation revealed thousands of instances in which the marketing agent's representatives forged customers' signatures to switch them to GTE long-distance," Butterworth said.