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re: Here is the truth why attendance matters - enough is enough with the arguing!
Posted on 4/15/13 at 8:01 am to VOR
Posted on 4/15/13 at 8:01 am to VOR
quote:
the BOTTOM LINE is the organization consistently loses millions of dollars.
I don't have the books, but how much of his losses were strictly a result of the amount of debt that he carried. Remember, Shinn basically mortgaged the franchise. He wasn't running a cash-heavy operation. As such, he was often paying huge interest payments each month. This can greatly skew the financial picture.
We also know that he put everyone in his family on the payroll. So, he continued running up debt on the franchise to increase personal wealth for his family.
Bottom Line:
Holding up any financial data from the George Shinn era as an indicator of franchise performance is silly.
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