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MUAHAHAHAHAHAAHAH!!!!!

Discussion in 'Sports and News' started by secretariat, Jun 12, 2011.

  1. Mizzougrad96

    Mizzougrad96 Active Member

    It was quite humbling to hear throughout the playoffs about how ancient Kidd is when I played against the guy in high school.

    I scored on him too. It was a free throw, my only point of the night, but he couldn't manage a quadruple-double against us and the same couldn't be said for a lot of teams in the area. :D
     
  2. Mizzougrad96

    Mizzougrad96 Active Member

    Cuban was the first person I ever quoted from an email. There was a trade rumored involving the local team and the Mavs and I emailed him. He got back to me within 15 minutes and gave me several great quotes.
     
  3. TheSportsPredictor

    TheSportsPredictor Well-Known Member

    Cuban is an awesome sports owner because he spends and spends and spends and spends and spends and spends and spends and spends and spends and spends and spends!
     
  4. Mizzougrad96

    Mizzougrad96 Active Member

    It's hardly that simple.
     
  5. Mystery Meat II

    Mystery Meat II Well-Known Member

    Two thoughts:

    1. What's the difference between the Wade/Bosh/Lebron trio and the Beatles? The Beatles have a Ringo.

    2. The hatred for Lebron started when he announced he was going down south. Coincidentally, that's about the time Lebron's mom announced she was going down west.
     
  6. Mizzougrad96

    Mizzougrad96 Active Member

    Both made me laugh.
     
  7. TheSportsPredictor

    TheSportsPredictor Well-Known Member

    But it is why they won.
     
  8. Baron Scicluna

    Baron Scicluna Well-Known Member

    I just like Cuban because he's not afraid to call Stern out on his bullshit.
     
  9. The Big Ragu

    The Big Ragu Moderator Staff Member

    I'm not taking anything away from Mark Cuban's work ethic. He's ambitious.

    But the Horatio Alger stories are making me barf. At the height of the dot-com maniain 1999, Yahoo! paid $5.9 billion for a company Cuban was CEO of that had gross sales of $15.5 million at the time. It never produced much of anything for Yahoo!

    It was arguably the worst acquisition, at the most ridiculously overinflated cost, ever. In normal times, for his role in broadcast.com, with the company sold at a reasonable valuation, he would have pocketed ten or twenty million dollars from a sale. Instead, he pocketed more than $5 billion, stupidly handed over by a company with deep pockets and a horrible management team.

    None of us would ever have heard of Mark Cuban if the world hadn't turned upside down for a short time. Hard work made Mark Cuban a millionaire. Luck made him one of the wealthiest men in the world.

    Cuban did sell much of his Yahoo! stock, and when the dot-com bubble popped, he was wealthier than he would have been if he hadn't diversified. But you still have to remember the source of his wealth that allowed him to pony up $285 for a minority stake in the Mavs. And that was the result of lunacy.

    Good on him. He's a smart, opportunistic guy. And a fun sports team owner to watch. But let's not get carried away.
     
  10. Michael_ Gee

    Michael_ Gee Well-Known Member

    Buy low, sell high, and look for the sucker when you sell. It's the heart of finance.
     
  11. waterytart

    waterytart Active Member

    Ragu, I don't disagree with what you said, but I would change the emphasis.

    We lived in Silicon Valley for a few years during the '90s. The stories about tech companies who were offered stratospheric acquisition prices, turned them down, then folded a few years later were legion.

    One component of business acumen is knowing when to sell. Cuban's at the top of the class on that one.
     
  12. BTExpress

    BTExpress Well-Known Member

    I was just thinking about this the other day amid a chilling email we got regarding Tribune's bankruptcy case.

    It seems as part of the "fraudulent conveyance" suit, creditors are filing suit to have all former Tribune shareholders REPAY the $34/share on the stock they sold to Sam Zell so he could buy the company. "The sale was a fraud, so the shares should never have been sold," is the argument.

    Now, Zell overpaid for the company; that is not arguable. But he paid $34/share for something with a fair market value at the time of $27-$29 (and would still be about $17 today, based on company's value of $4 billion vs. sale price of $8 billion).

    That deal does not come close to the outrageousness of what Yahoo overpaid Cuban. Yet he gets to bask in the glory of his financial genius, while about 1,700 former Tribune shareholders wonder if they are going to have their 401(k)s raided if the creditors somehow win this lawsuit.
     
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