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|Topic Review (Newest First)|
|12-07-2011 05:55 PM|
|12-07-2011 05:19 PM|
If I was a fan of one of those other teams I would be mighty upset that my billionaire owner was being bested by a bunch of guys who didn't know that spending $275 for a non-income producing piece of paper wasn't a good investment or a slickdeal.
|12-07-2011 03:37 PM|
|12-07-2011 02:58 PM|
|12-07-2011 02:46 PM|
Don't waste your breathe.
|12-07-2011 02:25 PM|
|12-07-2011 02:25 PM|
The shareholders from the earlier stock sales have no more shareholder rights than the shareholders from this or the 1997 offering other than being able to own more shares. There was a 1000 for 1 stock split with the 1997 offering so pre-1997 holders could own up to 200,000 shares.
Regardless, those early shareholders have no claim on the profits of the Packers as it is a nonprofit stock corporation.
As was the case in connection with earlier offerings of Common Stock, purchasers of Common Stock will not truly participate in the Corporation’s economic fortunes. Any increase in value or operating profits (in excess of reserves) and any proceeds upon liquidation of the Corporation, including any that may derive from improved facilities built with Common Stock proceeds, will go to community programs, charitable causes or other similar causes. As noted above, it is virtually impossible for anyone to recoup the amount initially paid to acquire Common Stock due, among other things, to transfer restrictions and Common Stock repurchase rights of the Corporation.And since these new shareholders will have the same rights as the earlier shareholders -- the right to vote at shareholder meetings -- this offering does dilute the "investment" -- if one can call it that -- of the early shareholders since the only "investment" is the voting right.
Oh, and even if the purchase was noted as a donation it would not qualify as a tax deductible charitable contribution since "[d]espite the Corporation’s nonprofit status, the Corporation is not a charitable organization under Section 501(c)(3) of the Internal Revenue Code of 1986, as amended."
|12-07-2011 02:23 PM|
Here's a little something for all you TD'ers. I know most of you don't read much, but the fact of the matter is this: Lambeau Field is SOLD-OUT. Has been for 51 years, will be for 50 or more. They don't get blacked out on TV, they don't have empty seats when they are 4-12, they don't care that they are 262nd in the US by population, they don't care about legalities concerning Green Bay Packer stock.
You see - the only way to support the Packers is: to buy a ticket from them (not a broker), buy Packer merchandise (which they get a % on), or buy "stock".
If you support a charity, you donate. If you support a cause, you lend a hand. If you support a stance, you make your views know.
I don't know why all you here have such an issue with supporting a team without a tangible benefit. (Which is actually NOT the case either) I support our armed forces. I don't expect a soldier or pilot to give me something in return.
This is more about honor, respect and allegiance than "stock".
|12-07-2011 02:11 PM|
We actually do own the team - sorry to burst your bubble. I have been voting for Board Members for decades now. Dont hate just because you are merely a fan.
|12-07-2011 02:08 PM|
If they really valued their fan base as much as they claim, then more value would have been offered to the buyer of this share....instead....they offer what any Packer fan will no doubt use, idiotically mind you, as some sort of bragging right without costing the current shareholders any dilution of their investment.
This is just called a $250 donation....at least then it would have been tax-deductable?
|12-07-2011 01:56 PM|
|Microtubule||Purchased 10 thanks|
|12-07-2011 01:52 PM|
The NFL Rules prohibit conduct by shareholders of NFL member clubs that is detrimental to the NFL, including, among other things, owning a financial interest in any other NFL member club or other professional football organization; loaning money to other NFL member clubs or any player, coach or employee thereof or any football official employed by the NFL; acting as an agent for any NFL player; publicly criticizing any NFL member club or its management, employees or coaches or any football official employed by the NFL; or paying an NFL player or coach. If the Commissioner of the NFL (the “Commissioner”) decides that a shareholder of an NFL member club has been guilty of conduct detrimental to the welfare of the NFL then, among other things, the Commissioner has the authority to fine such shareholder in an amount not in excess of $500,000 and/or require such shareholder to sell his or her stock. In addition, if the Commissioner determines that a shareholder has bet on the outcome or score of any game played in the NFL, among other things, then the Commissioner may fine such shareholder in an amount not in excess of $5,000 and/or require such shareholder to sell his or her stock. If the Commissioner requires a shareholder to sell his or her stock, then the Corporation may have a right to repurchase the stock at $0.025 per share. See “Transfer Restrictions.”
|12-07-2011 01:39 PM|
The Corporation’s nonprofit nature and community-based ownership make it unique among American major professional sports franchises. The predecessor to the Corporation was organized in Green Bay, Wisconsin, as a Wisconsin nonprofit corporation in 1923. On January 26, 1935, the Corporation was organized as a Wisconsin nonprofit stock corporation. The Corporation operates a National Football League (“NFL”) franchise, the Green Bay Packers.
The Corporation’s Restated Articles of Incorporation (the “Articles of Incorporation”) in essence have always provided that the Corporation is required to be nonprofit sharing and that no shareholder may receive any dividend or pecuniary profit by virtue of being a shareholder in the Corporation. In addition, the Corporation is required to donate its profit to certain charitable causes, and in the event of a dissolution of the Corporation, the profits and assets of the Corporation must go to community programs, charitable causes and other similar causes. The Articles of Incorporation also provide that the Corporation may create a capital reserve and therefore is not compelled to distribute all of its profits. Despite the Corporation’s nonprofit status, the Corporation is not a charitable organization under Section 501(c)(3) of the Internal Revenue Code of 1986, as amended.
|12-07-2011 01:29 PM|
|12-07-2011 01:26 PM|
Actually the real owners of the Packers are geniuses. The owners know their fan base are complete idiots and simply leveraged this knowledge to sell utterly, completely, undeniably WORTHLESS pieces of paper to finance improvements to team facilities.
Love seeing the post from ignorant people that actually bought this trash thinking they actually own a piece of the team. LOL. Just confirms all Packer fan stereotypes.
Enjoy that 1 cent piece of paper!
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