>> As anyone on here that reads my posts knows, I am totally opposed to a >> tax payer funded stadium. I have made comments to the effect that I >> could warm up to the idea under the right circumstances. Public >> ownership would be one of them. In fact I would be more than willing >> (interested) in owning stock in them. Its one of the things that has >> kept the Packers in Green Bay all these years, and they are a MUCH >> smaller market than we are here. > > history of packer community ownership. > http://www.packers.com/history/fast_facts/stock_history/ > > packer stock is worthless. you get to vote but get nothing else. it > doesn't appreciate, you can't sell it but back to the packers for a > fraction of the purchase price. I don't believe the stock allows you > to make any decisions on the direction of the team. when the team > needs more money, they sell more stock, effectively making your share > even more worthless.
Interesting. What I'm hearing here is that you're more than happy to SPEND *my* money on a Stadium but you aren't willing to INVEST yours for the same purpose. I keep hearing that the Stadium will be an economic boon to the community but now I'm hearing that it's not worth buying stock in... > > the presence of stock isn't what kept the packers in green bay... > > Based on the original 'Articles of Incorporation for the (then) Green > Bay Football Corporation' put into place in 1923, if the Packers > franchise was sold, after the payment of all expenses, any remaining > monies would go to the Sullivan-Wallen Post of the American Legion in > order to build "a proper soldier's memorial." This stipulation was > enacted to ensure that the club remained in Green Bay and that there > could never be any financial enhancement for the shareholder. The > beneficiary was changed from the Sullivan-Wallen Post to the Green Bay > Packers Foundation on the basis of a shareholder vote at the November > 1997, meeting. There is a big difference between a for-profit owner and a non-profit beneficiary. You can find out what the Packers Foundation does with its money here - http://www.packers.com/community/packers_foundation/. Robert Schmid Central REMINDERS: 1. Be civil! Please read the NEW RULES at http://www.e-democracy.org/rules. If you think a member is in violation, contact the list manager at [EMAIL PROTECTED] before continuing it on the list. 2. Don't feed the troll! Ignore obvious flame-bait. For state and national discussions see: http://e-democracy.org/discuss.html For external forums, see: http://e-democracy.org/mninteract ________________________________ Minneapolis Issues Forum - A Civil City-focused Civic Discussion - Mn E-Democracy Post messages to: mailto:[email protected] Subscribe, Un-subscribe, etc. at: http://e-democracy.org/mpls
