49er Fan Calls Packer Stock Sale a "Sham"

[okcpackerfan]

I don't enjoy giving these type of people attention but reading this article I couldn't help but think the person who wrote this leads a very sad life.

http://ninernoise.com/2011/12/02/the-packers-sham-stock-sale/

The Packers Sham “Stock Sale”​

AUTHOR: Matt Hamm | IN: NFL | COMMENTS: 2 Comments |​

Home » NFL » The Packers Sham “Stock Sale”​

​

Follow @NN_Keepinitheel​

http://ninernoise.com/files/2011/12/1997_PackersStockCertificate.jpg​

Introducing the Packers amazing $250 piece of paper​

​

​

So the Packers are selling shares of stock for $250 per share! Become an NFL owner for $250! Pretty sweet deal right? No, well not unless you enjoy giving up money for nothing. Oh and not to mention being tricked into thinking your something your not.

I’m sure I’ll catch some flack for this (secret: I don’t care) since most people are under the spell the Packers have cast as a publicly owned company. I want to be up front, I agree with all of you, I love the idea of it all. If only it were true, it’s not though, it’s a sham. Sorry Packers fans, I have nothing against your franchise, other than this whole stock sale BS.​

Publicly owned non-profit company, before I attack the Packers operation I want to say that I am not denying the fact that there are many of these companies that do great things for our country. I am not against these companies as a whole. But think about this, when you buy stock your supposed to at least have the chance to make money, right? You supposed to be able to sell off your shares at the current trading price, correct? Well what if I told you, without telling you it was the Green Bay Packers, that I had invested in a company who’s stock value has no value, that I can’t resell and give me nothing real at all. You would absolutely be puzzled, no one in the world can deny that your reaction would include the words w and t and f. No doubt about it.​

EDITED BY LONGTIMEFAN

http://www.packerforum.com/threads/full-list-of-rules-must-read-for-members.29585/

Posting Articles:
There has been a number of occasions where a user wants to post an article from another site. We are completely IN FAVOR of posting articles from another since that creates a good discussion on this site. However, there are some guidelines that need to be followed.

The most basic concept when posting articles from another site is to NOT copy the entire article and post it on this site. Ideally, you would ONLY be copying the first couple of paragraphs with a link back to the original article. Also, you should wrap those couple of paragraphs in a quote tag.

The one thing that NEVER should be done is copying articles from PAY sites. We do not allow this at all and could get us in trouble if we post content from paid sites.

​

 

[Texas9erFan]

Sooo... ummm... I guess he won't be buying any? LOL

 

[13 Times Champs]

You have to be a Packer fan to understand.

 

[weeds]

It's only a 'sham' or a 'scam' if the buyer isn't fully advised of the fact that they're essentially getting a piece of paper for $250. If the buyer elects to purchase said piece of paper in spite of that fact, well, then it's not a 'sham'. The person who said that you have to be a Packers fan to understand, hit it right on the head. This is the only means of survival for the Green Bay Packers since there is no ego-centric billionaire dumping unlimited funds into the organization ... there are only millions of Packers fans will dump $250 en masse into the organization. It's not really important whether or not they understand -- just that they shut up and root for their billionaire owner versus us.

 

[weeds]

One other thing ... the genius writer of that thing doesn't seem to know the difference between "your" and "you're". Frankly, when I see things like that repeated in the same opinion piece, I just write the clown off. Mind you, I'm not a school marm type, and I make as many typos as the next guy ... but, if you're going to spout off you'd best be wearing kevlar because everything then becomes fair game.

 

[Trapped In Vikingville]

It sure is sweet that when the Packers organization wants to add some luxury boxes or other things to Lambeau Field they don't have any problems raising the capital. Here in Minneapolis they can't figure out if their professional football team is worth keeping around (building them a new stadium). I have to laugh when you hear that people actually believe that buyers of Packer stock are being hoodwinked. LOL
God I love the Packers!
I remain "Trapped In Vikingville"

 

[Greenbayphil]

It's a sham because hes not a packers fan, and just wishes his team were undefeated aswell coming off a superbowl.
Complete jealousy.
I put any money that if the packers weren't doing aswell as they are this season, none of this crap would be brought up.

 

[packnutt]

Jealous Whiner fan. These are the same folks who won't think twice about spending 100 bucks on a meal.

To purchase a share of stock (if you can afford it) is like supporting your family. The single fact that the Packers maintain history and tradition by refusing to rename the stadium after some corporate shill is good enough for me.

 

[TJV]

Don’t you love Packers envy? No purchaser of Packers stock can honestly claim they were misled.

Here’s what I consider the “sham” regarding this issue, if there is one. For example Paul Allen, who is either the sole or majority owner of the Seahawks, is worth approximately $13B. As far as I know, he can take profits from any of his many businesses and pump that money into the Seahawks. ($100M is not even one percent of his net worth.) Again, as far as I know, that money can be used for signing bonuses, salaries, or any other expense. The Packers are prohibited from using the proceeds of a stock sale for player compensation. Why is that? The salary cap and revenue sharing exist to provide competitive balance. Other teams can use unlimited funds from outside sources to bolster the finances of their teams. And the Packers do not lead the league in non-shared revenues.

Finally, someone should inform the author that during the early days of the Packers franchise they actually passed the hat among fans in attendance. What a sham, huh? No, no. Packers’ stock sales are the modern equivalent of passing the hat. And for any legal eagles out there (not the author), the consideration purchasers receive for their money is the right to attend shareholder meetings.

 

[longtimefan]

I left this guy 2 comments..Pissed me off

 

[gbpowner]

I like the fact that in these economic times; the GBPs will not have to hold the city, county or state hostage for this go-round of stadium upgrade money. Instead; as in previous generations, thousands of Packer fans will answer the call to support their team financially.

I like the fact that my team will not be picking up and moving overnight to...Indianapolis, Baltimore, St.Louis, LA, Tennessee, Oakland, Arizona, Timbuktu or where ever else a greedy owner finds the best stadium deal!

I like the yearly call to the owners meeting at Lambeau Field where I will once again spend too much $$ at the Packer Pro Shop! I enjoy the camaraderie of people from all over the country and all walks of life; meeting to take "stock" of the state and health of the GBP organization. I like that in that moment, we all have at least one common tie that binds us!

I don't mind being "suckered" once again into buying a piece of paper that has as much worth as the TP that I use on my backside! I understand my piece of paper is worthless, will not gain in value, will not make me money and will not be available for resale. But is this paper really worthless, if I count all of the entertainment value that I have received over the years following this team...win, lose or draw?

Why this crazy, cultish behavior in purchasing valueless stock?? Because the GBP organization really is a piece of history and a source of pride to many "owners." Many of us have family and friends who have stepped up in the past. Many of us want our present and future generations to be a part of this history. Many of us are a part of the "99%" but want to enjoy the bragging rights of being part of the "<1%"! Many of us take pride that our team is funded in the most unique manner in ALL of the sporting world and we want to be a part of it!

The Green Bay Packers are a team founded, financed and followed by the People!

 

[GreenBlood]

This guy is just some hippy socialist nutjob from San Francisco. Note how he tried to induce shock by stating that Packer players, management and coaches are getting rich (which NFL players, coaches, etc aren't?) as if that's a bad thing. He's probably just angry because the wealthiest Packer fans aren't being forced to pay an 80% surcharge so the Packers can distribute free shares to the poor Packer fans.

 

[longtimefan]

He made a few statements that are lies..

It took me about 5 minutes to find stuff to prove him false..He should spent the 5 minutes to not look like a fool

 

[greenandgold]

You think he's having fun with this, go to the Chicago Bears message board.

Why do these idiots assume we do not know what we're walking into? We KNOW exactly what these shares are worth, and to us they are PRICELESS!

 

[Texas9erFan]

This guy is just some hippy socialist nutjob from San Francisco. Note how he tried to induce shock by stating that Packer players, management and coaches are getting rich (which NFL players, coaches, etc aren't?) as if that's a bad thing. He's probably just angry because the wealthiest Packer fans aren't being forced to pay an 80% surcharge so the Packers can distribute free shares to the poor Packer fans.

THIS!

Getting away from "hippy socialist nutjobs" is one of the main reasons I left the S.F. bay area.

 

[Lunchboxer]

I guess he mad that his team aint 11-0.

Also only a packer fan would understand that.

 

[longtimefan]

He is now replying to me and others..

Come on people go blast him lol

 

[Lunchboxer]

This guy is just some hippy socialist nutjob from San Francisco. Note how he tried to induce shock by stating that Packer players, management and coaches are getting rich (which NFL players, coaches, etc aren't?) as if that's a bad thing. He's probably just angry because the wealthiest Packer fans aren't being forced to pay an 80% surcharge so the Packers can distribute free shares to the poor Packer fans.

What does being a Hippy socialist nutjob have to do with anything. Please dont bring Politics or rellgion in to this madness.

Also what the flying flab is a Soicalist Nutjob anyway??

 

[longtimefan]

Also what the flying flab is a Soicalist Nutjob anyway??

The writer of the column?


lol

 

[The Drew]

LTF owned that dude!!! Nice!!!

 

[Forget Favre]

I don't think the writer is jealous or a socialist nut job and I have no idea where he resides.
I think he has picked his battle with just the one word "stock" and thinks it is being mis-used in this instance.
And I think he has a point. It really is more like a donation than stock, which is where one gets something of material value in return for the investment.
I don't wish to buy any shares. I can afford it but there isn't any incentive for me to do so.
And when I donate money, I like to give to causes which fight more important battles than just on the gridiron.
For those that do get stock thats fine. You should take pride in being a part owner of the Pack.

 

[weeds]

Stick this in his face (and tell him to pull his head from his ***) from Packers.com:
http://www.packers.com/news-and-eve...cember-6/2e8bc358-31bb-4acf-8ce7-c97c9f260af1

The Green Bay Packers today announced preliminary details for the organization’s upcoming stock offering, just the fifth in its 92-year history, which will commence on Dec. 6 at 8 a.m. CST.
More information, including the formal offering document, will be available when the offering commences. Interested fans will be able to access the full information online at www.Packers.com.
“We appreciate the interest that fans have expressed in our fifth stock offering,” said Packers President/CEO Mark Murphy. “We are not yet in a position to fully discuss the offering. However, this information will answer some of the initial questions that we’ve received. We look forward to formally launching the offering next week.
“We ask fans to look for details Dec. 6 on Packers.com.”
Following is a list of details currently available:

• The price per share will be $250, and there will be a handling charge.
• The offering will be limited to persons in the United States, as well as Guam, Puerto Rico and the U.S. ****** Islands.
• Until regulators in the state of New Hampshire allow the offering to proceed in their state, residents of that state will not be able to purchase shares.
• Shares will be able to be purchased online with credit or debit cards, and also via mail.
• Only individuals (including spouses as joint tenants) will be able to purchase shares.
• The Packers will initially offer 250,000 shares.
• No one may buy more than 200 shares (counting any shares that the person purchased in the 1997-1998 offering).
• The offering will continue until Feb. 29, 2012, subject to extension.

In contemplation of the offering, interested fans should note:

• Stock in the Packers does not constitute an investment in “stock” in the common sense of the term.
• The Packers will have no obligation to repay the amount a buyer pays to purchase Packers stock.
• Anyone considering the purchase of Packers stock should not purchase the stock to make a profit or to receive a dividend or tax deduction or any other economic benefits.
• Any offering of Packers stock will only be made through an offering document.
• The Packers believe offerees and purchasers of Packers stock will not receive the protection of securities laws with respect to any offering or sale of Packers stock.
• The Packers bylaws and NFL rules severely restrict transfers of Packers stock.

 

[Bogart]

My grandfather tried to get into stocks after his retirement, and he had no clue what he was doing and ended up losing over 20 thousand dollars, and from that I know better to get into it as I also have no clue how to operate in stocks.

You can lose money from them as you can gain money from them, not everyone gets rich from buying them.

 

[ivo610]

a 9ers fan taking shots at the only team that is hands down better than them this season? yeah totally not personal.

 

[Wood Chipper]

I am buying a share regardless. The Packers bring me joy as a fan and $250 to me is nothing in comparison to watching them run a class act organization that wins.