Quote:
Originally Posted by Lancer
If the land was worth so much, it would be reflected in the market cap of the stock. When Danny boy bought into SF, the market cap was like $1.6B. Now the market cap is $160M, which by my calculations is a 90% drop in the value of the business AND the real estate. So your argument is bullshit, and Danny Boy is stinging from the loss I can tell you. So is his brown-nose VP of football operations, Vinny, who investment most of his net worth into SF. Vinny can't see past Danny's ass, in both business and football decision making.
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I was wrong. My recollection was not entirely accurate and I should have rechecked my numbers. The news is actually worse. I was off by a decimal point and then some. The market cap from 2005 when he bought has dropped from $600M to $30M (rounding off), which is a 95% drop.
"Snyder/Cerrato’s holdings were worth $130,291,109 before his innovations took hold. As of last month, almost three years into his reign, that pile of paper (including real estate) was worth just $1,747,408"
Snyder has cost himself and his friends $128,543,701. a 98% loss. Business Week reports it may go bankrupt.