Haslams having money issues

#27
#27
The Haslam monarchy could not care less about UT football. If Big Jimmy cared about us, he would have went after Nicky Satan instead of getting Chud the Dud.
 
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#30
#30
bamawriter said:
As a rival fan, allow me to ignore all of the underlying facts and simply say to my Vol friends:

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Dude that is funny! Haha
Now seriously, shut your mouth!
War Eagle A-Hole!!
 
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#31
#31
Vol737 said:
Credit is like a lot of other things. There's a time and a place for it and only meant for the responsible. Should not be illegal though. However, deadbeat borrowers and Wall Street scammers be damned.
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We obviously cannot handle that responsibility as a society. There are too many lives that have been ruined.
 
#34
#34
oregonvol said:
Well, it sounds like it's a phantom issue. According to the article, the company's debt is because the owners (i.e. the Haslams) paid themselves 1.7 billion from it. Either way, it's probably more something Browns fans should worry about than UT fans. I think the elder Haslams are more the ones who give money to the school regularly and I doubt they are in any kind of debt.
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the Haslams- despite one's holier-than-thou sophomoric delusions of altruism- are extremely important to our university and the broader community, and we should support them and Pilot in any (reasonable) way that we can
 
#36
#36
That's what happens when you have to help pay off the long line of failed AD hires over the years.
 
#37
#37
Sell the debt to the capital markets which ends up buried in someone's pension or 401k. Problem solved
 
#40
#40
Burger said:
We obviously cannot handle that responsibility as a society. There are too any lives that have been ruined.
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I see your point...but we've proven we can't handle food as a society either. Should that be regulated?

At some point, you have to let the irresponsible (you know, morons) suffer the consequences. . Not allowing that is one thing I think is hurting us.
 
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#43
#43
WallyBalls said:
I see your point...but we've proven we can't handle food as a society either. Should that be regulated?

At some point, you have to let the irresponsible (you know, morons) suffer the consequences. . Not allowing that is one thing I think is hurting us.
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You need food to survive. You don't need credit. Credit will cause another great depression. I guarantee it.
 
#46
#46
RollinVol said:
Pilot Flying J's credit not 'downgraded,' but clouds still loom over Jimmy Haslam and Cleveland Browns: Terry Pluto | cleveland.com

an article explaining the issue
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Translation: Author doesn't understand basic accounting and/or anything to do with business. He states in the article that they have $29.3 Billion in revenue. We don't know the expenses but even if it was 5% profit margin (which it is probably higher) you are looking at $1.4 Billion in income. Easily enough to service the debt. Plus, net income isn't the amount the compnay would be taking in cash (Cash Flows). That number would be higher due to the depreciation and possibly other non-cash expenses...
 
#47
#47
DownTheField said:
the Haslams- despite one's holier-than-thou sophomoric delusions of altruism- are extremely important to our university and the broader community, and we should support them and Pilot in any (reasonable) way that we can
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They signed off on the Dooley hire.

I've always wondered if they (since they are generally regarded as our number 1 boosters) have something to do with the fact that we never go after big names for our coaching hires and instead always aim for diamonds in the rough, up-and-comers, proven losers, etc.
 
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#48
#48
UTProf said:
Hiding all that money from the feds to avoid taxes and now lawsuit after lawsuit will do that. Also, taking out loans for expansion will also do that. A company can be in debt up to its eyeballs and still be profitable -- hell, most big corps. operate on debt these days. It's just the way business is done today. It also wouldn't surprise me to learn that the Haslam family drained the profit and operates Pilot on debt -- also common practice for large 'family' businesses and since a corp can just file for bankruptcy there's every financial incentive to do it despite it being a shady practice. (Not defending Pilot or Jimmy but that IS the way it works).

That said, UT benefits from Haslam family money not corporate money.
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Well said.
 
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