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Posted on 12/11/13 at 11:21 pm to Oyster
I have seen it too. There is no way Alabama could hold Nick Saban accountable if the current recruits decide to go in a different direction after he leaves. Basically if I was a recruit and the coach was assuring me that he was not going anywhere then all of a sudden left I would get a bad taste in my mouth and be Leary of staying committed if I was from any state but Bama. Most Bama kids would prolly stick it out
Posted on 12/11/13 at 11:21 pm to LSUNV
Haha that punks thread got deleted
Posted on 12/11/13 at 11:22 pm to Juban Road Junkie
Yeah it should have
Posted on 12/11/13 at 11:23 pm to Juban Road Junkie
Dont want to hijack this thread, but I have started over 10 companies in the last 20 years. Some C Corps, some S corps, some LP and some LLC.
Everyone of them at some point borrowed money from either a domestic or foreign bank. All of these institutions, all of them, required a PG on on the loans.
Glad to know it is just not me. (LOL)
Everyone of them at some point borrowed money from either a domestic or foreign bank. All of these institutions, all of them, required a PG on on the loans.
Glad to know it is just not me. (LOL)
Posted on 12/11/13 at 11:23 pm to beaver
Look back at my posts. I posted it first in here and got it from google.
Posted on 12/11/13 at 11:25 pm to Walking the Earth
quote:
How does that work for tax purposes? That's essentially income, right?
Nothing a shite load of Austin or Tuscaloosa lawyers couldn't handle
Posted on 12/11/13 at 11:27 pm to massiveattack
Well I hope that and what Doc said are true...if so he is definitely taking the Texas job
Posted on 12/11/13 at 11:27 pm to BigEdLSU
So how much total money is this deal worth then? 140 million?
No one turns that down.
No one turns that down.
Posted on 12/11/13 at 11:28 pm to BigEdLSU
FTR, I was just perusing Shaggy and I'm super jealous of their avis.
Posted on 12/11/13 at 11:28 pm to BigEdLSU
Been out of pocket since 11ish this morning.
He gone yet?
He gone yet?
Posted on 12/11/13 at 11:28 pm to TutHillTiger
Yes paying the loan would be normally be income. But no personal income tax in Texas anyway.
Or, Joe Jamal could just sign his name on the note and this all goes away. May not even be taxable if they have not demanded payment or better yer Saban sells his interest for a dollar and then Jamal ask bank to accept his LOG for Saban's and done deal, or some other company just buys the old Company etc
Need a CPA and Tax attorney for that one. Would explain his visit to Houston area
Or, Joe Jamal could just sign his name on the note and this all goes away. May not even be taxable if they have not demanded payment or better yer Saban sells his interest for a dollar and then Jamal ask bank to accept his LOG for Saban's and done deal, or some other company just buys the old Company etc
Need a CPA and Tax attorney for that one. Would explain his visit to Houston area
Posted on 12/11/13 at 11:29 pm to beaver
Someone look into whether these Texas guys are connected to these banks. That would be some shite and we would have cracked it. They could possibly make it all go away...
Posted on 12/11/13 at 11:29 pm to TutHillTiger
quote:
Would explain his visit to Houston area
That's been explained.
Posted on 12/11/13 at 11:29 pm to beaver
Definitely ironic that dude has the power and clout to be the highest paid person at his job IN THE COUNTRY, but his judgement sucks at business deals.
Posted on 12/11/13 at 11:30 pm to CtotheVrzrbck
Yep.
This time he gone.
We are debating whether all of the freshmen at Alabama are going to transfer or not.
This time he gone.
We are debating whether all of the freshmen at Alabama are going to transfer or not.
Posted on 12/11/13 at 11:30 pm to Brisket
quote:
How does that work for tax purposes? That's essentially income, right? Nothing a shite load of Austin or Tuscaloosa lawyers couldn't handle
Depends how they structure it. I they bought the debt and then forgave it, it isn't income. If they actually paid for it, it is. If they bought it and re-structure, it isn't income
Posted on 12/11/13 at 11:32 pm to TutHillTiger
If all this is true he would be an complete idiot not to take the damn job. They will probably put a clause in it like no damn business side deals without approval of BOR. lol
Man imagine the freaking stress he has been under.
Man imagine the freaking stress he has been under.
Posted on 12/11/13 at 11:32 pm to LSUNV
Here's a link to a 33 page bankruptcy filing in Louisiana for Beltway 8 Associates.
LINK
The arrangement is set up as a Limited Partnership. Beltway 8 Associates LLC. is listed as the General Partner while Saban and Spinosa Class Trust are the limited partners.
As I understand it, the 1% in Beltway 8 was setup to be the General Partner which assumes liability. Spinosa and Saban being limited partners were limited in their bankruptcy liability so long as they weren't involved in day to day business decisions. If they were, the bankruptcy court views them as general partners and liabilities can be held against personal assets.
LINK
quote:
The partners of Beltway 8 Associates, Limited Partnership are Beltway 8 Associates,
LLC (1%), Nick Saban (49.5%), and Spinosa Class Trust (49.5%)
The arrangement is set up as a Limited Partnership. Beltway 8 Associates LLC. is listed as the General Partner while Saban and Spinosa Class Trust are the limited partners.
As I understand it, the 1% in Beltway 8 was setup to be the General Partner which assumes liability. Spinosa and Saban being limited partners were limited in their bankruptcy liability so long as they weren't involved in day to day business decisions. If they were, the bankruptcy court views them as general partners and liabilities can be held against personal assets.
Posted on 12/11/13 at 11:35 pm to Lsuhoohoo
He stays
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