Any decent business person knows what to do at tax time - find all the
deductions you can so as not to report a profit - at all, if possible. This
includes all the taxes paid as well.
That has nothing to do with gross sales/income. But after you deduct all the
salaries - including the owners' take, and add up everything else you can to
shave off the sales figures, the leftovers are what you report to the IRS as
bottom line income � the gross profits. Then deduct whatever taxes were paid
in advance or otherwise and you're left with taxable income, below a certain
figure is not even taxable.
Of course, don't try to get a mortgage with that figure. You have to add it
all back in to arrive at the massive income you've really earned to qualify
for that $500,000 house you want.
In other words, every one of us knows that Pohlad cooks the books for
different reasons - like we all do - to make it say what he wants it to at
bottom. In this case - reporting huge losses to justify a billionaire
munching at the public trough while playing on the entertainment-starved fan
and culture to pony up the hundreds of millions needed to build him a
stadium - to guarantee his bottom line will blossom - all at our expense.
Any wonder why, after years of coming back to the trough with his snout, the
public is both angry at the arrogance and amused at the other worldliness of
it all. Now, the final straw: Major League Baseball threatens to extract
the team ('cause no one will buy it at his outrageous price?) and
consolidate billionaires' puny $200 million as incentive for Pohlad to bail.
He'd never get that price from anyone around here.
Let no one be naive about this: there isn't anything these rarified-air
types won't do to entice the masses to fall at their feet begging them not
to take away our beloved baseball team. Persuasion, coercion, legal
maneuvers, legislation - anything NOT to pay for their palaces of profit
themselves. These men (any women left?) are the scum of the earth, of the
entertainment crowd. It's nigh on to pornographic what they're doing to the
public and its hard-earned and hard-payed largesse. Instead of public
education, instead of decent housing, and health care, these guys believe we
should it all into their back pockets and damn the children.
Good bye Twins. Don't let the door hit your rears as you exit.
Andy Driscoll
Saint Paul
------
"The hottest place in Hell is reserved for those who, in times of
moral crisis, remain neutral" --Dante
> From: "Dana Bacon" <[EMAIL PROTECTED]>
> Date: Sun, 2 Dec 2001 09:45:22 -0800 (PST)
> To: [EMAIL PROTECTED], "mpls" <[EMAIL PROTECTED]>
> Subject: Re: [Mpls] Twins Stadium
>
> Some may recall that the books on "Forrest Gump"
> showed a loss despite grossing over $600 million in
> box office receipts (see
> http://www.guardian.co.uk/friday_review/story/0,3605,544319,00.html
> for an example). Baseball and movies are different
> businesses, but the Gump story is an anecdote worth
> remembering.
>
> If one concedes the point on the Beeston quote,
> there's still a discrepancy between MLB's and
> Forbes/Fortune's estimates of profits and losses.
> Whose word should Minneapolis take in this regard? If
> the truth is somewhere in between, what is baseball
> doing to clear the air? Not knowing the answers, I
> would appreciate commentary from folks more in the
> know.
>
> Dana Bacon
> Page neighborhood
>
> --- "Clark C. Griffith" <[EMAIL PROTECTED]> wrote:
>> Beeston was referring to timing issues only. He
>> regrets the statement that is very misleading and
>> gives the erroneous impression that books can be
>> cooked at will.
>>
>> Clark Griffith
>
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