guinnesscrazy Posted June 13, 2008 Share Posted June 13, 2008 It's so easy to bash Snyder on his business snafus and his decision to cut down a bunch of trees. *yawn* Wake me up when someone decides to write something creative and different. Link to comment Share on other sites More sharing options...
dizzinator53 Posted June 13, 2008 Share Posted June 13, 2008 When were George Michael, Michael Wilbon, Lindsay Czarniak ever employed by the redskins? NewsChannel 4 produces shows about the redskins. Wilbon is a host on redskins report which isn't produced by the redskins This needs to get back to Micahel Wilbon, he will **** a brick and write a column, demanding a retraction. Anyone have access to him? Link to comment Share on other sites More sharing options...
skinfan2k Posted June 13, 2008 Share Posted June 13, 2008 This needs to get back to Micahel Wilbon, he will **** a brick and write a column, demanding a retraction. Anyone have access to him? Yep, I just emailed me about this and asked him what he plans on doing and what his thoughts are Link to comment Share on other sites More sharing options...
IrepDC Posted June 13, 2008 Share Posted June 13, 2008 I'm no genius or math wiz, but if Snyder is as unsuccessful as this article claims, why does he still have so much money? I'm thinking they are over playing things a bit. Link to comment Share on other sites More sharing options...
Brandon Lloyd Christmas Posted June 13, 2008 Share Posted June 13, 2008 I'm no genius or math wiz, but if Snyder is as unsuccessful as this article claims, why does he still have so much money? I'm thinking they are over playing things a bit. snyder can fail at everything he ever does ever again, and because hes made billions of dollars, he'll always be a success. the article is a jab for sure, but snyders current ventures dont look to be as promising as his original business endeavors. Link to comment Share on other sites More sharing options...
zoony Posted June 13, 2008 Share Posted June 13, 2008 snyder can fail at everything he ever does ever again, and because hes made billions of dollars, he'll always be a success.the article is a jab for sure, but snyders current ventures dont look to be as promising as his original business endeavors. It seems like Snyder is trying to create an entertainment empire. His strategy seems to be to purchase companies that are a 'bargain'... lots of market presence and assets, but under-performing and poorly managed. The hope being that he can turn those companies around make money. Pretty risky, but that's business. So far, the turnaround doesn't seem to be happening (Six Flags, Johnny Rockets, etc.). Though I suspect a large part of it has to do with the current economy. As much as folks would like to think that Snyder is simply buying companies and media to "piss people off", that's just silly. Link to comment Share on other sites More sharing options...
bubba9497 Posted June 13, 2008 Share Posted June 13, 2008 Snyder is ruining 6 flags? http://www.washingtonpost.com/wp-dyn/content/article/2008/06/12/AR2008061203900.html?nav=rss_print/business Six Flags Cuts Debt by $130 Million Six Flags, the amusement-park chain whose board is chaired by Washington Redskins owner Dan Snyder, reduced its debt by about $130 million and lowered annual cash interest through a bond-exchange offer to extend maturities. Bondholders swapped $530.6 million in notes due in 2010, 2013 and 2014 for $400 million in bonds maturing in 2016, Six Flags said. The new debt pays 12.25 percent, compared with the previous 8.875 to 9.625 percent. Link to comment Share on other sites More sharing options...
Shilsu Posted June 13, 2008 Share Posted June 13, 2008 Snyder is ruining 6 flags?http://www.washingtonpost.com/wp-dyn/content/article/2008/06/12/AR2008061203900.html?nav=rss_print/business Six Flags Cuts Debt by $130 Million Six Flags, the amusement-park chain whose board is chaired by Washington Redskins owner Dan Snyder, reduced its debt by about $130 million and lowered annual cash interest through a bond-exchange offer to extend maturities. Bondholders swapped $530.6 million in notes due in 2010, 2013 and 2014 for $400 million in bonds maturing in 2016, Six Flags said. The new debt pays 12.25 percent, compared with the previous 8.875 to 9.625 percent. Uhhh, just using the most conservative estimates ($530.6M due in 2014 at 9.625% annually), Six Flags ends up paying $87.28M more to bondholders in the end. Link to comment Share on other sites More sharing options...
McD5 Posted June 13, 2008 Share Posted June 13, 2008 Snyder is ruining 6 flags?http://www.washingtonpost.com/wp-dyn/content/article/2008/06/12/AR2008061203900.html?nav=rss_print/business Six Flags Cuts Debt by $130 Million Six Flags, the amusement-park chain whose board is chaired by Washington Redskins owner Dan Snyder, reduced its debt by about $130 million and lowered annual cash interest through a bond-exchange offer to extend maturities. Bondholders swapped $530.6 million in notes due in 2010, 2013 and 2014 for $400 million in bonds maturing in 2016, Six Flags said. The new debt pays 12.25 percent, compared with the previous 8.875 to 9.625 percent. This is anything but good news. 12.25%=junk more like shuffling the chairs on the Titanic. Link to comment Share on other sites More sharing options...
zoony Posted June 13, 2008 Share Posted June 13, 2008 Uhhh, just using the most conservative estimates ($530.6M due in 2014 at 9.625% annually), Six Flags ends up paying $87.28M more to bondholders in the end. Yes, but that interest is tax deductible. (bond interest for corporations) If it wasn't a good move, why would they make it? ... Link to comment Share on other sites More sharing options...
Shilsu Posted June 13, 2008 Share Posted June 13, 2008 Yes, but that interest is tax deductible. (bond interest for corporations)If it wasn't a good move, why would they make it? ... Uhhh, the interest paid is tax deductible whether it's at 8.875% or 12.25%. Why would they make it? So they can reduce their payments. Or maybe they're betting interest rates will sky rocket. But I don't think Mark Shapiro and Dan Snyder have that kind of foresight over investment banks. Link to comment Share on other sites More sharing options...
zoony Posted June 13, 2008 Share Posted June 13, 2008 Uhhh, the interest paid is tax deductible whether it's at 8.875% or 12.25%. Which is more? 12.25 or 8.875? So which rate do you save more on taxes, if you're the corporation? Looks like they reduced the princible quite a bit, which is not tax deductible. ..... Link to comment Share on other sites More sharing options...
Shilsu Posted June 13, 2008 Share Posted June 13, 2008 Which is more? 12.25 or 8.875? So which rate do you save more on taxes, if you're the corporation?Looks like they reduced the princible quite a bit, which is not tax deductible. ..... Uhhh, I don't think you understand how bonds work. Link to comment Share on other sites More sharing options...
zoony Posted June 13, 2008 Share Posted June 13, 2008 Uhhh, I don't think you understand how bonds work. I guess not Link to comment Share on other sites More sharing options...
McD5 Posted June 13, 2008 Share Posted June 13, 2008 Yes, but that interest is tax deductible. (bond interest for corporations)If it wasn't a good move, why would they make it? ... It most likely was done because of something called "death spiral financing." http://en.wikipedia.org/wiki/Death_spiral_financing Fascinating concept, undertaken by the worst companies in the country. Now, I haven't done enough work looking through their books to see if they participate in it, but this smells of it. CHTR, SIRI and ISON are the three most well-known culprits of it. Basically, they finance the company and promise to meet certain milestones. If they don't hit those milestones by specific dates, in this case hypothetically, when the bonds are due--they face immediate ramifications. Usually dilution. That then becomes a snowball effect, and eventually drives a company into bankruptcy. What they may be thinking here is this--"We have no chance in hell of paying that money back by the due date, so let's push the date back, and offer them a ton of more money in interest than they would have received before, and see if they bite on it." What they did here, is anything but a sign of confidence. You can get 5-6% in a FDIC insured cd......or Six Flags will promise to pay you 12.5% if you lend them money. Link to comment Share on other sites More sharing options...
Brandon Lloyd Christmas Posted June 13, 2008 Share Posted June 13, 2008 EXTREMESKINS the official message board of the washington redskins....and financial advisors. Link to comment Share on other sites More sharing options...
zoony Posted June 13, 2008 Share Posted June 13, 2008 What they did here, is anything but a sign of confidence. You can get 5-6% in a FDIC insured cd......or Danny will promise to pay you 12.5% if you lend him money. Very interesting stuff Link to comment Share on other sites More sharing options...
McD5 Posted June 13, 2008 Share Posted June 13, 2008 Very interesting stuff Yes......an easier analogy might be if you owed a bookie 10k next month. You don't have it, and you aren't going to have it. So you call the book.....and tell him instead of the 10k you owe, you promise to pay 15k instead if he waits six months longer. Just digging a deeper hole. Usually a move of last resort....so the book doesn't break your legs. In the corporate world.....so you don't have to file for bankruptcy. Link to comment Share on other sites More sharing options...
DarrellsMyHero28 Posted June 13, 2008 Share Posted June 13, 2008 Are you Betts' financial adviser? Link to comment Share on other sites More sharing options...
McD5 Posted June 13, 2008 Share Posted June 13, 2008 Are you Betts' financial adviser? I have been a financial advisor for 17 years. The only pro athletes I have are pro wrestlers. I wish I was Betts' advisor......he would have gone into free agency:) Link to comment Share on other sites More sharing options...
DarrellsMyHero28 Posted June 13, 2008 Share Posted June 13, 2008 I have been a financial advisor for 17 years. The only pro athletes I have are pro wrestlers. I wish I was Betts' advisor......he would have gone into free agency:) Well I guess I'm glad you're not then, its nice to have him backing up CP. Or starting over him, if you had your say. Link to comment Share on other sites More sharing options...
McD5 Posted June 13, 2008 Share Posted June 13, 2008 Well I guess I'm glad you're not then, its nice to have him backing up CP.Or starting over him, if you had your say. Yes, play him, or play him enough to increase his trade value, then trade him. If by trading him we can help the team....then do it. Gibbs 2 did neither. Link to comment Share on other sites More sharing options...
Da Champ Posted June 14, 2008 Share Posted June 14, 2008 this newspaper itself is pretty much critical of EVERYTHING so take this at facevalue Link to comment Share on other sites More sharing options...
#98QBKiller Posted June 14, 2008 Share Posted June 14, 2008 The WCP is a good publication for the most part but this isn't one of their best stories Link to comment Share on other sites More sharing options...
DarrellsMyHero28 Posted June 14, 2008 Share Posted June 14, 2008 Yes, play him, or play him enough to increase his trade value, then trade him.If by trading him we can help the team....then do it. Gibbs 2 did neither. Well hopefully we'll see more of your boy out on the field this year. I personally think CP is better for the WCO but Betts is a good reciever out of the backfield, and still a damn good RB. Link to comment Share on other sites More sharing options...
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