Bad Economy hits the Redskins

[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.

[firstdown]

Originally Posted by Dirtbag359

Well if I had known Dan was going to run the franchise into the ground I wouldn't have settled for a minority owner spot.



What I'm morbidly curious to see is how the Redskins do in the long run. Maybe his success has been a result of what he's always done with running the team, sacrifice long term plans in favor of short term get-rich quick schemes. The fans are starting to get fed up with the way the team is running the organization and apparently the season ticket waiting list is for lack of a better word, bullshit. I've heard of people that have been contacted about season tickets within a year of signing up. On top of that they got Larry Michael robo calls going around now with Jack Kent Cooke showing up on caller ID's.

You have no idea what your talking about. If you wanted season tickets you could call there right now and get them. Oh, bring your check book because these are the high dollar tickets that only a few can afford and that why there is always some season ticket to be had. Snyder did not have short term get rich plans with the skins. He tried buying a SB team to win the SB but it was in no way a short term get rich plan. It was more of spend a ton of money in hopes of winning a SB and that way cost alot more than building a team.

[The Goat]

Originally Posted by SkinDogg

Agreed, but value schmalue. Fans are tired of hearing the praises of Snyder's balance sheet. And unlike JKC, Snyder has not made the Redskins winners - something that justifies dropping $500 for a ticket and a beer.

Then why do people continue to line Danny's pockets? Reason has it if revenue plummeted because fans were sick and tired of the FO structure and ownership's behavior things might change for the better.

[Lancer]

Originally Posted by memphisskin

They have a waiting list in the thousands, the Redskins are the premium sports brand in the region. Let's be clear, for every season ticket holder that doesn't renew, there are five who have been waiting for the chance to buy season tickets.

What have you been smoking? The waiting list is total bullshit and is a myth propogated by the redskins themselves to keep people like you ready to pay anything for a pile of sh*t. The redskins send an email out before every game saying there are tickets available. They turn over upper deck seats every year, and only if you pay 75% over face value will you ever smell lower level seats. That is a fact, jack.

[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.

[GusFrerotte]

Originally Posted by Dirtbag359

That is a pretty good point. I mean hell the NFL has made most of it's money already through their godforsaken exclusive rights deals which should at least account for a solid yearly income from the likes of Ridell, EA Sports, Rebock, Direct TV, and the such. Of course I presume that they don't pay off their exclusive rights deals up front.

I read an article that the NFL actually asked the Federal governemnt for a $2billion bailout last year to cover operating costs. Sorry guys, the era of bread and circuses is coming to an end. Those folks were trimmed down. Just like up here in the big 3, the NFL franchises are grossly bloated in useless beaucracy and will start to lose real money as any business. Look at the Lions as an example. They are a terribly run franchise, charge $40 parking to park in the Ford Field parking structure, you have to pay $30 for two dogs and cokes, and over $100 for a decent seated game ticket, just to see crappy football. FOlks quit paying to see them. I went to see them play the Skins at Ford Field, and I was shocked at the empty seats. There were more Skins fans in the upper decks than Lions fans. The folks laid off were deemed to be redundant to operations at Redskin Park, and that their duties could be easily passed to people doing a similar job in the organization. 2009 very well could end up like 1929, so more of this will come.

[birdz4gibbs]

Originally Posted by WaldSkins

More like the last 8 years.

it has been sometime since we seen a solid offense haven,t we....

[SmootSmack]

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Redskins Lay Off More Workers - Redskins Insider