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Billionaire Tilman Fertitta furloughs 40,000 workers at casino, restaurant empire
Posted on 3/25/20 at 7:50 am
Posted on 3/25/20 at 7:50 am
22
Posted on 3/25/20 at 7:52 am to lshuge
Posted on 3/25/20 at 7:53 am to lshuge
Nice people don’t become millionaires/billionaires
Posted on 3/25/20 at 7:53 am to lshuge
(no message)
This post was edited on 4/5/23 at 4:48 am
Posted on 3/25/20 at 7:55 am to lshuge
The poor man just bought a new 250 ft yacht.
He has to protect his savings. You don't want his yacht getting repossessed, do you?
He has to protect his savings. You don't want his yacht getting repossessed, do you?
Posted on 3/25/20 at 7:56 am to lshuge
Has he stopped playing his pro sports players? If not, how come?
Posted on 3/25/20 at 7:56 am to lshuge
He is an easy target, but many businesses are doing this. This is why after 2 or 3 weeks we need to start transitioning back to opening up with reasonable restrictions.
Posted on 3/25/20 at 7:58 am to lshuge
Halliburton just did the same thing
If you read the article it states his burn rate right now is a “few million” per day for his restaurant and casino investments. If the government forced me to close I would do the same thing he’s doing knowing my company absolutely needs daily cash flow to survive. Owning a basketball team is not as cash flow reliant.
If you read the article it states his burn rate right now is a “few million” per day for his restaurant and casino investments. If the government forced me to close I would do the same thing he’s doing knowing my company absolutely needs daily cash flow to survive. Owning a basketball team is not as cash flow reliant.
This post was edited on 3/25/20 at 8:03 am
Posted on 3/25/20 at 7:58 am to lshuge
I thought this happened a week ago but he changed his mind. Was that something different? I didn't read the article, just checked the dates on it.
Posted on 3/25/20 at 7:58 am to josh336
Because they have a better union than the casino employees.
Posted on 3/25/20 at 7:59 am to lshuge
I wouldn’t be upset if this ruined Tillman. Karma can be a bitch
ETA: Obviously this is a shite move but a business move to protect himself. The comment above is more in regards to how he handled all his business prior to this.
ETA: Obviously this is a shite move but a business move to protect himself. The comment above is more in regards to how he handled all his business prior to this.
This post was edited on 3/25/20 at 9:03 am
Posted on 3/25/20 at 7:59 am to josh336
He is contractually obligated to pay them.
Posted on 3/25/20 at 8:05 am to Stevo
quote:
He is contractually obligated to pay them.
Not true. There is language in the CBA that allows withholding player salaries under force majeur conditions and pandemic qualifies. For every game canceled, they can withhold 1/92 (or something close to that meant to simulate preseason and regular season games) of the players salary.
Posted on 3/25/20 at 8:08 am to roguetiger15
quote:
If you read the article it states his burn rate right now is a “few million” per day for his restaurant and casino investments. If the government forced me to close I would do the same thing he’s doing knowing my company absolutely needs daily cash flow to survive. Owning a basketball team is not as cash flow reliant.
I think after this is all over there will be plenty of people who will have to reconsider who they work for based on how they were treated during this time.
Posted on 3/25/20 at 8:12 am to MikeD
If NBA is like NFL I can also add the paychecks are not balanced at all either.
As a loan officer I saw a few NFL paystubs to verify income. One players I remember was $352,000 and change for a game check including performance bonus pro rated (he had a 3 sack game as DE). His out of season, between camps, was $50,000 and change, just base salary - benefits like insurance, and taxes.
I feel soooo awful for these pro affaletesusses.
As a loan officer I saw a few NFL paystubs to verify income. One players I remember was $352,000 and change for a game check including performance bonus pro rated (he had a 3 sack game as DE). His out of season, between camps, was $50,000 and change, just base salary - benefits like insurance, and taxes.
I feel soooo awful for these pro affaletesusses.
Posted on 3/25/20 at 8:13 am to lshuge
Wasn't he really in love with China? Wonder if he still feels that way?
Posted on 3/25/20 at 8:16 am to SloaneRanger
quote:....BUT...he was a bit of an arse about it.
He is an easy target, but many businesses are doing this. This is why after 2 or 3 weeks we need to start transitioning back to opening up with reasonable restrictions.
There was an article on it the other day.
He will not let his employees use any of the PTO they have accrued. They need that money now.
In his defense, he did say he would continue to maintain their health benefits coverage.
Posted on 3/25/20 at 8:17 am to josh336
quote:fancy contracts with them and the players associations
Has he stopped playing his pro sports players? If not, how come?
Posted on 3/25/20 at 8:17 am to lshuge
I don’t understand how this board promotes conservative principles yet feels that business owners are beholden to pay their employees when the business isn’t generating revenue.
Granted, it isn’t how I would handle it. I value employees and believe in loyalty and would try to work something out. But if his business call is to cut them loose then that is his call.
Granted, it isn’t how I would handle it. I value employees and believe in loyalty and would try to work something out. But if his business call is to cut them loose then that is his call.
Posted on 3/25/20 at 8:18 am to roguetiger15
quote:
If you read the article it states his burn rate right now is a “few million” per day for his restaurant and casino investments. If the government forced me to close I would do the same thing he’s doing
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