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Started By
Message
1
Posted on 5/21/13 at 5:47 pm to RogerTheShrubber
quote:
Man, I remember the early days of ESPN and the shite they would show... Damn near didn't make it, if not for Anheuser Bush.
I remember this... I watched the 1st sportscenter with George Grande.. They didn't show a single highlight...............
Wow how times have changed......
Posted on 5/21/13 at 6:47 pm to dukke v
I saw PJ was the latest person to post in this thread and I was so, so excited at the prospect of him chiming in on tax evasion.
Alas, I have been left disappointed.
Alas, I have been left disappointed.
Posted on 5/21/13 at 7:20 pm to RogerTheShrubber
This thread is so great. Couple of armchair economists chimed in to bemoan tax "evasion" in response to Congress's trollbaiting session today while still finding time to tell us how supply side economics doesn't work.
This was pretty bizarre news, though, given that they beat earnings 2 weeks ago with ESPN continuing to be their most profitable business segment.
This was pretty bizarre news, though, given that they beat earnings 2 weeks ago with ESPN continuing to be their most profitable business segment.
Posted on 5/21/13 at 7:51 pm to acgeaux129
Anybody who unknowingly pays more taxes than the absolute legal minimum is a dumbass. If there is anybody who knowingly pays more than he has to he is a fool.
The "loopholes" are there because politicians want to control the economy. That's why there will never be a flat tax. A "loophole" is something you can't take advantage of.
The "loopholes" are there because politicians want to control the economy. That's why there will never be a flat tax. A "loophole" is something you can't take advantage of.
Posted on 5/21/13 at 7:53 pm to jcole4lsu
What's sad is those 400 staffers probably make less than Stephen A Smith + Doris Burke.
I don't know their salaries but I remember a few years ago reading Jim Nantz' divorce problems in the paper and he made $7M a year!
I don't know their salaries but I remember a few years ago reading Jim Nantz' divorce problems in the paper and he made $7M a year!
Posted on 5/22/13 at 12:54 am to acgeaux129
A few takeaways from this thread:
1. I agree that we all should use every tax loophole available to us. It's designed that way and if you don't take advantage, it's foolish.
Brings me back to the Warren Buffet story about paying less in taxes (by percentage) than his secretary and saying there's something wrong with that. Many on the right, possibly many on this thread, suggested he should volunteer to pay more if he didn't like it.
Are you fricking crazy? If there are stupid tax loopholes that benefit me, I'll call them stupid, but you damn sure better believe I'm going to take advantage of them as long as they are still on the books and legal. Advocating tax law changes and making the most of the current format are two separate things.
2. ESPN may have overpaid for its broadcast rights. They have had record profits. Their increased cost came from overpaying for the college football playoffs and possibly the US Open, among other things. The SEC Network won't be cheap either.
For ESPN to go from RECORD profits -- from being the most profitable entity in media, period -- to needing to cut back to meet their profit margins tells me they paid too much and know it. They think they aren't going to get the return they want on these recent deals. College football, as much as we all love it, looks like a bad deal for them.
ESPN was/is paying $125 million for its BCS bowl rights. When the playoff starts, that goes up to $608 million. That's a 386 percent increase.
These cuts tell me they are realizing that they cannot monetize those games 386 percent more than they did the BCS games.
3. There may be shifting: I bet some of these guys get rehired and moved. The SEC Network will be in Charlotte? I bet some laid off Bristol folks end up there. Others will land at Fox's expanding properties, like their new car racing network. I bet most of these folks land on their feet, maybe within the company, eventually.
4. I bet that by 2015 or so, the headcount at ESPN will be higher than it was before the layoffs, just shifted around. They'll maximize their current deals, find some profit somewhere and get back rolling.
1. I agree that we all should use every tax loophole available to us. It's designed that way and if you don't take advantage, it's foolish.
Brings me back to the Warren Buffet story about paying less in taxes (by percentage) than his secretary and saying there's something wrong with that. Many on the right, possibly many on this thread, suggested he should volunteer to pay more if he didn't like it.
Are you fricking crazy? If there are stupid tax loopholes that benefit me, I'll call them stupid, but you damn sure better believe I'm going to take advantage of them as long as they are still on the books and legal. Advocating tax law changes and making the most of the current format are two separate things.
2. ESPN may have overpaid for its broadcast rights. They have had record profits. Their increased cost came from overpaying for the college football playoffs and possibly the US Open, among other things. The SEC Network won't be cheap either.
For ESPN to go from RECORD profits -- from being the most profitable entity in media, period -- to needing to cut back to meet their profit margins tells me they paid too much and know it. They think they aren't going to get the return they want on these recent deals. College football, as much as we all love it, looks like a bad deal for them.
ESPN was/is paying $125 million for its BCS bowl rights. When the playoff starts, that goes up to $608 million. That's a 386 percent increase.
These cuts tell me they are realizing that they cannot monetize those games 386 percent more than they did the BCS games.
3. There may be shifting: I bet some of these guys get rehired and moved. The SEC Network will be in Charlotte? I bet some laid off Bristol folks end up there. Others will land at Fox's expanding properties, like their new car racing network. I bet most of these folks land on their feet, maybe within the company, eventually.
4. I bet that by 2015 or so, the headcount at ESPN will be higher than it was before the layoffs, just shifted around. They'll maximize their current deals, find some profit somewhere and get back rolling.
Posted on 5/22/13 at 2:56 am to Wishnitwas1998
quote:
How can they justify this? Seems like to me ESPN is doing to well to lay people off
When the government intervenes and handcuffs those who are successful, they find other ways to recoup the money they lost in higher taxes by laying people off. Hope and Change.
Posted on 5/22/13 at 3:00 am to wildtigercat93
Only ESPN People I like:
Czarniak
Wilbon (when he avoids little man/race issues)
Kornheiser
Cowherd
Simmons
Woody Paige
Behrman
The rest can DAGTFO. Now, I mainly get my sports news from Dan Patrick and Artie Lange Show.
Czarniak
Wilbon (when he avoids little man/race issues)
Kornheiser
Cowherd
Simmons
Woody Paige
Behrman
The rest can DAGTFO. Now, I mainly get my sports news from Dan Patrick and Artie Lange Show.
This post was edited on 5/22/13 at 3:06 am
Posted on 5/22/13 at 3:46 am to Mischievous Badger
quote:
improve shareholder value.
Your basic bottom line.
Posted on 5/22/13 at 7:11 am to timbo
I really, REALLY hope this includes Jemele Hill
Posted on 5/22/13 at 7:15 am to CourseyCorridor
If you create a fake child in order to get a tax credit, you get in trouble.
Apple and other corporations create fake companies solely for the purpose of not paying taxes.
That's where it's a problem.
I'm sorry for asking that a company be a good citizen.
Apple and other corporations create fake companies solely for the purpose of not paying taxes.
That's where it's a problem.
I'm sorry for asking that a company be a good citizen.
Posted on 5/22/13 at 10:36 am to Sophandros
quote:
If you create a fake child in order to get a tax credit, you get in trouble. Apple and other corporations create fake companies solely for the purpose of not paying taxes. That's where it's a problem. I'm sorry for asking that a company be a good citizen.
I agree that if Apple is creating false fronts to avoid taxes, that should change.
But if what they are doing is legal, then that's on congress to close the loopholes.
Posted on 5/22/13 at 10:39 am to mcneil912
quote:
People hate on ESPN because it is the "cool" thing to do.
People hate ESPN cause their commentary sucks.
Posted on 5/22/13 at 2:19 pm to Dr RC
quote:
when Fat Cat Co kills a factory in the US so they can move to Bumblefrickistan b/c they don't have to worry about safety of the employees and can pay jack shite even though they are already making a healthy profit with their factory here its bad for our country
Blame Unions for that, not companies. Look at what they did to Hostess.
Posted on 5/22/13 at 2:42 pm to JabarkusRussell
The union didn't run Hostess to the ground.
Additionally, union membership as a percentage of the workforce in this country is at an all time low, so blaming unions is, at best, a dishonest tactic.
Additionally, union membership as a percentage of the workforce in this country is at an all time low, so blaming unions is, at best, a dishonest tactic.
Posted on 5/22/13 at 3:11 pm to Sophandros
quote:
The union didn't run Hostess to the ground.
A business can survive poor management
A business can survive a union
No business can survive both. That'd be the case with hostess. The amount hostess was on the hook for in union pensions was absurd
quote:
union membership as a percentage of the workforce in this country is at an all time low
good. there are very few industries that require a union these days.
Posted on 5/22/13 at 3:24 pm to jcole4lsu
quote:
The union didn't run Hostess to the ground.
The union was given a choice of reduced benefits or nothing at all because if forced to give full benefits, they'd go belly up. The union played hard ball and lost.
Posted on 5/22/13 at 3:26 pm to constant cough
quote:
People hate ESPN cause their commentary sucks.
TIM TEBOW
ESPN earned the hate and venom they get.
Posted on 5/23/13 at 10:54 am to lsutigers1992
update
as predicted......
You have been here for a long time. You have been unbelievably loyal. But frick YOU. You make too much money. You're fired. And we get a tax break for doing it. frick ESPN.
as predicted......
quote:
As another source put it in an email: "Most people let go were older, have been with the company a long time and collecting a decent salary for what they do. They will be replaced by younger, less experienced and most importantly a much less compensated employee."
quote:
As the Hartford Courant notes, ESPN is a Connecticut "First Five" employer. In return for being an active job creator in Connecticut, the network receives grants, low-interest loans, and all sorts of tax benefits from the state. Per the Courant, this massive round of layoffs won't bump ESPN out of the program.
You have been here for a long time. You have been unbelievably loyal. But frick YOU. You make too much money. You're fired. And we get a tax break for doing it. frick ESPN.
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