- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Okay, About Ownership
Posted on 3/2/11 at 8:45 am to Sid in Lakeshore
Posted on 3/2/11 at 8:45 am to Sid in Lakeshore
quote:
Also, this does not take into account any downturn in business due to reduced offshore activities in the GOM since the BP well blowout.
It also only deals with the supply vessel portion of the business. I'm sure North American Shipbuilding turns a pretty significant profit, as well.
Posted on 3/2/11 at 8:48 am to Jester
If you have fricking billions of dollars, what's the fricking difference in 160 million and 250 million? fricking cheapass.
Posted on 3/2/11 at 8:48 am to hellsu
quote:
George Shinn could have easily hauled arse after Katrina,sold out and took his money and ran but..... he didn't.
No, he couldn't have. Have you paid any attention to the NBA purchasing the team? The team had huge debts attached to it that needed to be resolved before any intelligent businessman would drop $300 million. Selling an NBA franchise isn't like selling a used car.
Posted on 3/2/11 at 8:50 am to Chad504boy
56.25%, and you wouldn't have billions if you don't recognize that it is a huge difference. James Dolan may agree with you. He's a sucker.
Posted on 3/2/11 at 9:13 am to glassman
quote:Wouldn't take this as gospel, but he's definitely a billionaire.
That doesn't mean that Gary Chouest is worth $5 billion. When Edison Chouest died in 2008 at the age of 91, he probably left the business to his three sons, Gary, Laney, and Edison Jr. All three boys worked in the business when they were growing up, but Gary was chosen to run the company when Edison stepped down. So Gary probably owns at least a third of Edison Chouest ($1.6 billion), and probably has investments that total several hundred million. He's worth, at a bare minimum, $2 billion. He very well could be worth a lot more - the company is likely worth far more than $5 billion, the CEO probably has a higher share of the company than his other two brothers, and Gary probably has enormous sums of money in investments and capital. To put his wealth into perspective, he's worth anywhere between Mavs owner Mark Cuban ($2 billion) and Blazers owner Paul Allen ($13.5 billion).
Whoops already posted
This post was edited on 3/2/11 at 9:14 am
Posted on 3/2/11 at 9:23 am to Jester
quote:
The team had huge debts attached to it that needed to be resolved before any intelligent businessman would drop $300 million
assuming the debt payoff was included in the $300M, i don't really think it makes a difference
hell, buying the team with the debtload would mean he'd be directly involved in negotiating the debt down, so it may have been better to buy with the debt
Posted on 3/2/11 at 10:25 am to SlowFlowPro
quote:
assuming the debt payoff was included in the $300M, i don't really think it makes a difference
hell, buying the team with the debtload would mean he'd be directly involved in negotiating the debt down, so it may have been better to buy with the debt
It certainly could have been done, but most intelligent people don't buy a ship (since we're talking Chouest) that has a gaping hole in the hull and is sinking. Shinn was losing a lot of money and wanted out from under it. If it was that easy to sell, he would have.
Like, I said, it isn't a used car. You can't just decide you're done with it and expect to have a deal in place by the end of the week.
Posted on 3/2/11 at 5:00 pm to Jester
You say most intelligent people wouldn't take on the debt load but we are talking about 5 years previous to the NBA buyout. An intelligent far-sighted potential buyer say ,from Oklahoma City may well have jumped at the chance to take on whatevever the current debt was ,squeeze a desperate city for what they could and hauled arse back to Okie in 4or5 seasons. Say someone in a little better financial position then Shinn was. I think I have a rough idea of the difference in an NBA franchise and a used car and why can't you say your just done with it and start the wheels in motion to unload the franchise? Because you say so?
Popular
Back to top
Follow TigerDroppings for LSU Football News