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re: Miles unethical negotiation at LSU

Posted on 11/16/18 at 9:23 pm to
Posted by KC Tiger
Member since Sep 2006
4912 posts
Posted on 11/16/18 at 9:23 pm to
quote:

he ST/LT liability is going to net with the deferred asset


As I understand it, A deferred asset is essentially a prepaid expense (something you have paid for and not received). I don't see how that's relevant to this case. How would it apply here?
Posted by Farkwad
Byzantium
Member since Sep 2010
2669 posts
Posted on 11/16/18 at 9:29 pm to
tell me what you know Turdman!?!?!?!! He was/is a POS
This post was edited on 11/16/18 at 9:31 pm
Posted by burdman
Louisiana
Member since Aug 2007
22623 posts
Posted on 11/16/18 at 9:29 pm to
Posted by Spotswoode
Mount Rushmore
Member since Aug 2018
1594 posts
Posted on 11/16/18 at 9:36 pm to
If he did not have the Kansas job why the hell would he be negotiating? There is nothing unethical.
Posted by Bestbank Tiger
Premium Member
Member since Jan 2005
79109 posts
Posted on 11/16/18 at 9:40 pm to
quote:

2) If LSU didn't "need" to pay him, why are you mad at Les? Did he put a gun to Alleva's head?




He took Luca Brasi with him. Said Alleva's brains or his signature were going to be on that contract.
Posted by kew48
Covington Louisiana
Member since Sep 2006
1543 posts
Posted on 11/16/18 at 9:43 pm to
"2) If LSU didn't "need" to pay him, why are you mad at Les? Did he put a gun to Alleva's head? "

There is no need to put a gun to Alleva's head
Posted by speckhead
Member since Nov 2011
1111 posts
Posted on 11/16/18 at 9:56 pm to
(no message)
Posted by speckhead
Member since Nov 2011
1111 posts
Posted on 11/16/18 at 9:56 pm to
Hogwash
Posted by JKChesterton
Member since Dec 2012
4228 posts
Posted on 11/16/18 at 10:01 pm to
quote:

As I understand it, A deferred asset is essentially a prepaid expense (something you have paid for and not received). I don't see how that's relevant to this case. How would it apply here?


No a prepaid expense, like a prepaid insurance policy is an asset, but it would be more rightly viewed as a prepaid asset. A deferred asset would be the something like a Corporation with a NOL Carryforward (NOL). It can carry that NOL to future years to offset future taxable Income. The company would record a Deferred Tax Asset for the future economic benefit related to the NOL. For example, you have an NOL of $1 million you would multiply it times the Corporate Tax Rate of 21% and record a Deferred tax asset of $210,000 as an asset on the balance sheet.
Posted by KC Tiger
Member since Sep 2006
4912 posts
Posted on 11/16/18 at 10:12 pm to
quote:

No a prepaid expense, like a prepaid insurance policy is an asset, but it would be more rightly viewed as a prepaid asset. A deferred asset would be the something like a Corporation with a NOL Carryforward (NOL). It can carry that NOL to future years to offset future taxable Income. The company would record a Deferred Tax Asset for the future economic benefit related to the NOL. For example, you have an NOL of $1 million you would multiply it times the Corporate Tax Rate of 21% and record a Deferred tax asset of $210,000 as an asset on the balance sheet.


Thank you for the explanation. This is why I have an accountant.
Posted by beauchristopher
Member since Jan 2008
72233 posts
Posted on 11/16/18 at 10:13 pm to
Or he could not seek employment at all and continue collecting checks for nothing?

No one is screened by this. He’s still doing LSU awesome by taking a job. Can’t fault him for collecting his last paycheck before though.
Posted by kew48
Covington Louisiana
Member since Sep 2006
1543 posts
Posted on 11/16/18 at 10:16 pm to
Hey Guys- The entire premise of my comment was that if "Miles KNEW that he had the KU job for all practical purposes locked up ", he also knew what the preliminary economics were -albeit granted some final important details. If he then goes back and negotiates a settlement with LSU then that raises some questions about his true motives. I think ole Les knew exactly what he was doing and it was not to save LSU $5-6 Mill. "Lets be patient and see what the final KU deal was/is and then throw some stones" ! If the economics say otherwise, I will be the first to say "sorry-I was wrong" I think the theory of the back end loaded deal may have some merit however- We'll eventually see some of the details!! Make no mistake Les was and is a good person !!
Posted by kew48
Covington Louisiana
Member since Sep 2006
1543 posts
Posted on 11/16/18 at 11:58 pm to
lostinbr- I'm impressed=Now show me some reasonably informed probabilities on each of these alternatives and we can compute an expected value on the amount to settle ! Forget these idiots !

Posted by 1723lale
Louisiana
Member since Jan 2010
2231 posts
Posted on 11/17/18 at 12:02 am to
Well,



that was an interesting read....
Posted by BamaChick
Terminus
Member since Dec 2008
21393 posts
Posted on 11/17/18 at 12:09 am to
I'm sorry to intrude but I came by to read what y'all were saying/thinking about the Miles to KU situation and this thread caught my eye.

This OP is the dumbest thing ever.

I'm not going to get into the "Did LSU do Les Miles dirty?" thing because, not my circus, not my monkeys. But I think any human being that has been fired from a job they loved, much less have built their whole lives and identity around would agree that it would be natural to feel hurt and anger and maybe even hold a grudge. Even if your performance had gone south, bring fire doesn't feel good and I can't imagine the feeling of being fired AND that being a breaking news story and every person you know and even people you don't know are all up in your business like that.

All that rambling to say, I wouldn't have blames Les for being all "Screw LSU! I'll take this KU job for $1,000 a year and make them pay up every damn cent, those bastards!"

But, he didn't. Yes, there are probably long term legal and short term negotiating benefits to this settlement deal, so it's not just Les being a saint. But many people let spite and revenge rule their decisions even when taking the high road would benefit them.

shite, I know I would probably be petty as hell and make a university pay me every damn dime if I were in Les's situation.

Les Miles represented LSU in fine fashion when he walked your sidelines and has continued to be classy about this whole deal. I'm sure he has a ton of juicy stories from his years there but he's been nothing but gracious as far as I've read.

Anyway, again, sorry for a Bama fan chiming in but I just had to say any LSU fan that is ranting about this deal is either dumb or a miserable a-hole or just a Miles hater letting emotions override logic.

Y'all have a nice weekend!
Posted by MisslePig
Member since Jul 2018
1148 posts
Posted on 11/17/18 at 9:36 am to
quote:

For something to be an Asset on the balance sheet, I must provide future economic benefits


You’re wrong on several accounts. Primarily that the Miles buyout is not an employment contract in the sense you are talking about.

The asset IS based on a future potential economic benefit. LSU DID NOT recognize the entire buyout as a loss Day one, however they did recognize the probable liability. It created an asset, due to a future benefit recoverable.

I.e. if someone paid Les, LSU’s liability would be reduced and that is an asset in of itself. Someone technically would be reducing LSU’s liability, hence a chashless AR styled type of asset that amortized over time.

LSU has no accounting gain from this. If you disagree I have two questions.

1) Did LSU recognize the entire buyout as a loss day one?
2) Did LSU not have the Les Miles liability on the balance sheet?
This post was edited on 11/17/18 at 9:42 am
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