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2019-Whenever Misc. Grab Bag Thread

Technically, State already has five names assigned to property at the football stadium. The Murphy family has the football center at the south end of the stadium that houses the football offices, training and treatment centers and locker rooms. The TowneBank Center is the tower that houses the press box, coaches box and luxury suites ... some of which comprise the Dail Club Level. That's two more sponsored names. Then the stadium itself, which was originally Carter Stadium until they attached the Finley name when expansion did away with the old Finley Field House which was the old stand alone football locker room building with a small hospitality area. So, that's the Carter, Dail, Murphy and Finley families and TowneBank ... none of whom are likely to be stepping up for an over-arching naming grant on top of whatever they've already pledged and or paid in the past ... although I guess TowneBank might be a player. I'd guess we'll end up with Corporate Name Carter Finley Stadium ... unless they kick it down to Carter Finley Field at Corporate Name Stadium, which is clunky and kind of dumb and thus 100% likely.
Finley was added to Carter in 1979, the year before I started school.
 
After hearing the Kinetico commercials for I don't know how many years now, I've been biting my tongue about commenting on their ads. They offer to "Test your your water" , then they'll offer filtration remedies based on their findings. I emailed Kinetico and asked if their water testing was done in a N.C. state certified laboratory? I got no response...at all.

The reason I asked that is; I was in the water sampling/testing business for 32 years and I sort of know what's involved in accurate testing and what's not. I retired at the end of October, so I don't care whose toes I step on at this point. Any laboratory that has a state certification has equipment that has been accepted, is operated in a sterile environment, and is calibrated to meet state standards. It will be shut down if it doesn't pass. It must also be operated by certified technicians. Water (or anything) really should be tested by a disinterested third party.

If water testing is done in a non-certified laboratory, testing could be done in the back of a dirty service van, a storage room at the shop, or in the local aquarium shop. There are no checks and balances, no oversight, and no chain of custody to follow the course of the testing. So, basically, the filter comapany can tell you whatever B.S. they choose to come up with in order to sell you their product. Results MAY be close, but they may be way off too. I don't know anything about the quality or functionality of Kinetico's products, as filters wasn't my gig. They may be the best filters out there, but that's not my issue with their claim.

If you're in the market for water filtration, please be a responsible consumer and contact at least three to four reputable filter companies. If water testing is offered, especially if it's for free, remember to ask if their testing is done in a state certified laboratory. Rest assured, water testing and the equipment to do it properly ain't cheap. If the testing is not done through a certified lab, make sure you have it properly tested before making any filter purchases.

About 18 years ago, I was inspecting a property between Hillsborough and Chapel Hill that was being sold by a little old lady, who had worked her entire career at UNC hospital. She'd even gone to school there. She was up in age, widowed, and was moving to assissted living. Her large house was on several acres and very well kept, but it was too much for her. I met the prospective buyer on site and we saw that there was quite extensive and expensive filtration on the well water system. She was totally alarmed and asked why so many filters were necessary? The only way to find out what was going on was to test the water. It was a little suspicious that there were no testing records to corroborate the filter's performance. We had to see why those filters were there and how effective they were at removing whatever was in the water. The client chose to run broad spectrum testing batteries at both the well and at the kitchen tap to figure out exactly what was going on with the well water at that property. Everything else on the house passed inspection and the deal going through completely hinged on what was in the water. When testing was completed, it revealed that there was alittle bit of Iron (Fe) present...and that's it. A simple water softener would have corrected the issue. It became obvious that the filter company took advantage of the old lady, who trusted their testing results, and they installed over $6,500 worth of unnecessary filtration equipment. Essentially, they sold her a Cadillac for a Volkswagen problem.

Be a good consumer, be informed, and be careful out there.

*stepping off my soapbox now*

Jim
 
The Miami Dolphins and Buffalo Bills both received NFL permission to sell shares to private equity firms. Miami sold 10% to Ares Management and an additional 3% to Brooklyn Nets and New York Liberty owner Joseph Tsai. The 13% sale values the Dolphins at $8.1 billion. The Bills sold a total of 20.6% with 10% sold to Actos Partners and the balance to a consortium that includes Gridiron Capital managing partner Tom Burger, former NBA players Tracy McGrady and Vince Carter and former MLS and US Men’s National Team player Jozy Altidore. The Bills are facing cost overruns on their new stadium and are once again looking to build business in Toronto. Carter, McGrady and Altidore are played there and are “icons“ in the city according to managing owner Terry Pegula.

Under rules the NFL adopted in August, private equity firms are limited to 10% ownership and must hold the investment for at least 6 years. All firms must be vetted by the league. Sovereign wealth funds and pension funds are not allowed to directly invest but they are allowed to be investors in private equity funds that do.
 
Just to be clear, this is simply the NFL catching up with the other major sports leagues. All of the others—including the NHL—already allow up to 30% of a franchise’s equity to be held by PE firms.
 
That correct, but the NFL has no financial need to warrant such a change. Their franchises are a license to print money even if run ineptly. Basically every other pro sports league badly needs constant cash infusions, but there's no such need driving this change for NFL franchises. This is just uber-wealthy owners finding new ways to get equity out of their clubs.
 
That correct, but the NFL has no financial need to warrant such a change. Their franchises are a license to print money even if run ineptly. Basically every other pro sports league badly needs constant cash infusions, but there's no such need driving this change for NFL franchises. This is just uber-wealthy owners finding new ways to get equity out of their clubs.
In the case of the Bills, their new stadium is about 50% over the original estimate. And Pegula is responsible for all cost overruns, the state and county kicked in $850 million of the original $1.4 billion cost, which is now estimated at $2.1 billion. So even though Pegula said he doesn’t know what he’s going to do with the cash, it’s a pretty fair bet that it’s going into the stadium. His estimated return from the sale was estimated at $927 million.

For the Dolphins, who knows? Stephen Ross is estimated to be worth $17 billion. He has his fingers in so many different ventures, its hard to say what he’s going to do with the cash, which is just over $1 billion, based on a 13% sale of an estimated $8.1 billion valuation.
 
With the Bills, all the Pegulas have to do to finance that stadium is take out a freaking commercial loan like normal people. The revenues generated annually WAY outstrip expenses, so carrying the mortgage would be absolutely simple if the Pegulas weren't stripping the club of cash every year.

Ross' wealth is mostly from commercial real estate, which could be an issue depending on how much of his portfolio is in office space. That market is bad and getting worse by the day ... and probably facing a generational shift. He's in his 80's so maybe that cash secures whatever his succession plan might be. Still. Any idiot could get equity out of an enterprise that generates as much guaranteed profit as an NFL team does without getting fleas from bedding down with venture capital vultures. That's a conscious choice.

Actually, now that I think about it the underlying business concerns are probably driving this cash infusion in both cases. The Pegulas have made and lost multiple fortunes over the years so it would shock absolutely no one if they were upside down in their oil interests ... again. And with commercial real estate struggling, who knows what Ross' actual bottom line looks like right now. Maybe cashing in some VCs in the one business they control that actually makes money allows them some freedom to inject cash into other projects that don't.
 
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The other thing with Pegula is that the Slugs have been hemorrhaging cash since he bought them in February 2011. They made the playoffs in 2010-11 but not since. They’ve also been playing in front of empty seats, they’re averaging less than 85% capacity the last 3 seasons.
 
The investment into the Dolphins includes all of the sports entities in Stephen Ross‘ portfolio so it includes Hard Rock Stadium and the Miami Formula 1 Grand Prix. Ares also has sports-related investments including MLS Inter Miami and McLaren Racing.
 
Florida St. football coach Mike Norvell restructured his contract, giving $4.5 million of his $9.9 million contract to help launch a new initiative aimed at raising money for revenue sharing with players. Schools will be allowed to share at least $20.5 million of revenue with athletes starting July 1. Oklahoma St. Coach Mike Gundy had previously agreed to a similar deal.

 
He went from to chump to champ back to chump again quick enough to make you wonder which was actually the illusion. I have my opinion ... I think the guy's a dunderhead.
 
He went from to chump to champ back to chump again quick enough to make you wonder which was actually the illusion. I have my opinion ... I think the guy's a dunderhead.
Aside for wishing ill for the conference for what they did to the Big East, I don’t have a dog in the intra-conference battles. But I’m OK with all the bad things happening to Felony State and Clemson.
 
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