Bad Economy hits the Redskins

[irish]

Originally Posted by Mattyk72

How exactly are NFL teams feeling the crunch of the economy? I'm not buying it. Just wait and see how much they spend in free agency, meanwhile some guy who works at the stadium is out on the street. F'd up.

I agree, the NFL teams arent feeling much of a crunch, these layoffs are a ploy to make it appear they are suffering like everyone else. Unfortunately the little guys in the organizations are the ones that suffer and thats f'd up.

BTW, a previous poster mentioned DS and not doing good with 6 flags. I have read in a few places that DS is much more interested in 6 flags for the real estate value than for running an amusement park. He couldnt care less how the park perform because the real $ is in the land the park is on.

[SmootSmack]

Originally Posted by irish

I agree, the NFL teams arent feeling much of a crunch, these layoffs are a ploy to make it appear they are suffering like everyone else. Unfortunately the little guys in the organizations are the ones that suffer and thats f'd up.

BTW, a previous poster mentioned DS and not doing good with 6 flags. I have read in a few places that DS is much more interested in 6 flags for the real estate value than for running an amusement park. He couldnt care less how the park perform because the real $ is in the land the park is on.

That's definitely true about 6 Flags.

Seems like a lot of the people let go were from the tv operations of the Redskins, and some may be re-hired for other positions.

[Lancer]

Originally Posted by irish

BTW, a previous poster mentioned DS and not doing good with 6 flags. I have read in a few places that DS is much more interested in 6 flags for the real estate value than for running an amusement park. He couldnt care less how the park perform because the real $ is in the land the park is on.

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.

[44ever]

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.

Think we finally found someone that Loves the Danny/Vinny show. Plus he's a fiancial analyst. Welcome!

[Lancer]

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.

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.