08-07-2015, 02:25 PM
I'm sure there are some 49er fans here so I thought I'd share.
http://www.washingtonpost.com/news/early...n-charges/
http://www.washingtonpost.com/news/early...n-charges/
The CardBoard
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C-House!
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The CardBoard
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OT: 49ers' Aldon Smith arrested for DUI hit and run, released by team
OT: 49ers' Aldon Smith arrested for DUI hit and run, released by team
I'm sure there are some 49er fans here so I thought I'd share.
http://www.washingtonpost.com/news/early...n-charges/
http://www.washingtonpost.com/news/early...n-charges/
08-07-2015, 03:23 PM
(08-07-2015, 02:25 PM)ThePassionOfTheChryst link Wrote:I'm sure there are some 49er fans here so I thought I'd share.I think the way you should have put it was "I'm sure there are some former 49er fans here."
http://www.washingtonpost.com/news/early...n-charges/
I rather doubt that there are any genuine fans left of that organization.
For us former fans, this latest is just another step deeper into the cellar.
(08-07-2015, 02:25 PM)ThePassionOfTheChryst link Wrote:I'm sure there are some 49er fans here so I thought I'd share.I think the way you should have put it was "I'm sure there are some former 49er fans here."
http://www.washingtonpost.com/news/early...n-charges/
I rather doubt that there are any genuine fans left of that organization.
For us former fans, this latest is just another step deeper into the cellar.
08-07-2015, 03:50 PM
There are now only 11 players left on the team from the Super Bowl roster just 2 seasons ago. There is no clearer indication of the sheer incompetence of York & Baalke.
In the 18+ months since, the 49ers have managed to downgrade at every single position both on and off the field. No wonder none of their free agents resigned and they had to overpay for the ones they got.
My wife and I bet on how many games they will win this year - I took under 4 1/2 and that's looking better and better all the time.
John York needs to take the keys to his Porsche back from the U-Boat Commander
In the 18+ months since, the 49ers have managed to downgrade at every single position both on and off the field. No wonder none of their free agents resigned and they had to overpay for the ones they got.
My wife and I bet on how many games they will win this year - I took under 4 1/2 and that's looking better and better all the time.
John York needs to take the keys to his Porsche back from the U-Boat Commander
There are now only 11 players left on the team from the Super Bowl roster just 2 seasons ago. There is no clearer indication of the sheer incompetence of York & Baalke.
In the 18+ months since, the 49ers have managed to downgrade at every single position both on and off the field. No wonder none of their free agents resigned and they had to overpay for the ones they got.
My wife and I bet on how many games they will win this year - I took under 4 1/2 and that's looking better and better all the time.
John York needs to take the keys to his Porsche back from the U-Boat Commander
In the 18+ months since, the 49ers have managed to downgrade at every single position both on and off the field. No wonder none of their free agents resigned and they had to overpay for the ones they got.
My wife and I bet on how many games they will win this year - I took under 4 1/2 and that's looking better and better all the time.
John York needs to take the keys to his Porsche back from the U-Boat Commander
08-07-2015, 04:05 PM
(08-07-2015, 03:50 PM)winflop link Wrote:There are now only 11 players left on the team from the Super Bowl roster just 2 seasons ago. There is no clearer indication of the sheer incompetence of York & Baalke.
In the 18+ months since, the 49ers have managed to downgrade at every single position both on and off the field. No wonder none of their free agents resigned and they had to overpay for the ones they got.
My wife and I bet on how many games they will win this year - I took under 4 1/2 and that's looking better and better all the time.
John York needs to take the keys to his Porsche back from the U-Boat Commander
As a life-long 49er fan, I have to say that even though this is not a surprise (a guy with a history of behavior problems has another incident), it still comes as a punch-in-the-gut. And I basically agree with Winflop. But the worst thing is, ownership is the core of the problem. And that is scary for the future of this once-great franchise. Look no further than the Warriors to see the impact of ownership (both the current good, and the recent past BAD), and the Sacramento Kings to see how bad ownership can destroy franchises. Bad decisions with players, coaches, and GMs happen, and those people can be replaced. But the owner is there for the duration, making bad decision after bad decision.Â
The problems with the sod at Levis Stadium seem more and more like a metaphor for a team that has lost its own footing. At this point, I'll still call myself a 49er fan, but the whole situation is just too painful to watch.
(08-07-2015, 03:50 PM)winflop link Wrote:There are now only 11 players left on the team from the Super Bowl roster just 2 seasons ago. There is no clearer indication of the sheer incompetence of York & Baalke.
In the 18+ months since, the 49ers have managed to downgrade at every single position both on and off the field. No wonder none of their free agents resigned and they had to overpay for the ones they got.
My wife and I bet on how many games they will win this year - I took under 4 1/2 and that's looking better and better all the time.
John York needs to take the keys to his Porsche back from the U-Boat Commander
As a life-long 49er fan, I have to say that even though this is not a surprise (a guy with a history of behavior problems has another incident), it still comes as a punch-in-the-gut. And I basically agree with Winflop. But the worst thing is, ownership is the core of the problem. And that is scary for the future of this once-great franchise. Look no further than the Warriors to see the impact of ownership (both the current good, and the recent past BAD), and the Sacramento Kings to see how bad ownership can destroy franchises. Bad decisions with players, coaches, and GMs happen, and those people can be replaced. But the owner is there for the duration, making bad decision after bad decision.Â
The problems with the sod at Levis Stadium seem more and more like a metaphor for a team that has lost its own footing. At this point, I'll still call myself a 49er fan, but the whole situation is just too painful to watch.
08-07-2015, 06:49 PM
It starts at the top.
This holds true for most things
This holds true for most things
"We should all be better." --- Bill Walton, UCLA telecast, Feb. 16, 2013
It starts at the top.
This holds true for most things
This holds true for most things
"We should all be better." --- Bill Walton, UCLA telecast, Feb. 16, 2013
08-07-2015, 09:18 PM
The 49ers should be publicly owned in stock like the Packers. Let the fans control the front office.
The 49ers should be publicly owned in stock like the Packers. Let the fans control the front office.
08-08-2015, 12:12 AM
(08-07-2015, 09:18 PM)stanfordite link Wrote:The 49ers should be publicly owned in stock like the Packers. Let the fans control the front office.
I think that actually now violates NFL rules. The Packers were grandfathered in.
(08-07-2015, 09:18 PM)stanfordite link Wrote:The 49ers should be publicly owned in stock like the Packers. Let the fans control the front office.
I think that actually now violates NFL rules. The Packers were grandfathered in.
08-08-2015, 08:06 AM
(08-07-2015, 09:18 PM)stanfordite link Wrote:The 49ers should be publicly owned in stock like the Packers. Let the fans control the front office.
The Packers' "public ownership" model looks very little like traditional stock ownership. Fans get limited voting rights in exchange for the "opportunity" to finance major capital expenditures. This ownership doesn't come with any dividends or even a payout if the Packers are ever sold. Putting a more positive spin on it, buying Packers stock is a way to make sure that the organization's profits continue to be directed to its charitable foundation instead of any individual owners.
(08-07-2015, 09:18 PM)stanfordite link Wrote:The 49ers should be publicly owned in stock like the Packers. Let the fans control the front office.
The Packers' "public ownership" model looks very little like traditional stock ownership. Fans get limited voting rights in exchange for the "opportunity" to finance major capital expenditures. This ownership doesn't come with any dividends or even a payout if the Packers are ever sold. Putting a more positive spin on it, buying Packers stock is a way to make sure that the organization's profits continue to be directed to its charitable foundation instead of any individual owners.
08-08-2015, 08:39 AM
(08-08-2015, 08:06 AM)Stanford_Cardinals link Wrote:[quote author=stanfordite link=topic=12475.msg123776#msg123776 date=1439007539]
The 49ers should be publicly owned in stock like the Packers. Let the fans control the front office.
The Packers' "public ownership" model looks very little like traditional stock ownership. Fans get limited voting rights in exchange for the "opportunity" to finance major capital expenditures. This ownership doesn't come with any dividends or even a payout if the Packers are ever sold. Putting a more positive spin on it, buying Packers stock is a way to make sure that the organization's profits continue to be directed to its charitable foundation instead of any individual owners.
[/quote]
It's also a way to make sure that the team never moves away from GB. My brother is a share owner -- his kids gave him one for Christmas. He looks at the certificate while watching the team on TV, having been on the waiting list for tickets for something like 25 years.
(08-08-2015, 08:06 AM)Stanford_Cardinals link Wrote:[quote author=stanfordite link=topic=12475.msg123776#msg123776 date=1439007539]
The 49ers should be publicly owned in stock like the Packers. Let the fans control the front office.
The Packers' "public ownership" model looks very little like traditional stock ownership. Fans get limited voting rights in exchange for the "opportunity" to finance major capital expenditures. This ownership doesn't come with any dividends or even a payout if the Packers are ever sold. Putting a more positive spin on it, buying Packers stock is a way to make sure that the organization's profits continue to be directed to its charitable foundation instead of any individual owners.
[/quote]
It's also a way to make sure that the team never moves away from GB. My brother is a share owner -- his kids gave him one for Christmas. He looks at the certificate while watching the team on TV, having been on the waiting list for tickets for something like 25 years.
The Packers were never intended to be a for-profit corporation.
In the early 1920s, a number of midwestern towns had NFL teams -- Canton, Hammond, Rock Island, Racine, Muncie, Duluth, Akron, and so on. Most of those teams had shaky finances and a tenuous existence. Every year, some of those teams folded or moved.
In 1923, the Packers were in financial crisis. The team was at risk of folding. Curly Lambeau and several others hit upon the idea of becoming a nonprofit corporation and selling stock to raise the money to stay afloat. The people of Green Bay wanted to save their team. They were proud to have a professional team and they felt the Packers helped put Green Bay on the map. The idea of the stock drive was not to bring in investors to share the profits. Rather, the purpose was to raise enough money to save the team and keep it in Green Bay. The Packers raised enough money to survive the crisis. In 1934, the Packers again staved off bankruptcy with a second stock drive.
The Packers were the only small town team to survive the financial shakeout of the 1920s and early 1930s. By 1935, the NFL had teams only in the biggest cities, plus Green Bay.
After the 1949 season, the NFL absorbed the old All American Football Conference. In the reorganization that followed, the Packers were at risk. The Packers were on the verge of bankruptcy. They had the smallest town, the smallest stadium, and the lowest ticket prices. The NFL questioned whether it could make money in Green Bay. The commissioner tried to get the Packers to relocate. The team refused. The league gave the Packers an ultimatum: prove you can meet your financial guarantees to visiting teams, or you're out of the league.
The Packers decided to launch another stock drive. A group of four investors offered to buy a controlling share of the team for $200,000 if the team would convert to a for-profit corporation. If that had happened, the Packers today would be just another team owned by a rich guy. Fortunately, the board of directors rejected the offer out of hand. Instead, they affirmed their commitment to remaining a community-owned nonprofit corporation. They once again appealed to the people of Green Bay to buy stock. They imposed a limit on the number of shares that could be owned by any one person in order to protect against another attempt to take over the team.
My grandfather was one of the leaders of that 1950 stock drive. The stock drive raised over $125,000, which was enough to keep the team solvent. That was the last financial crisis. My grandfather ended up serving on the Packers' Board of Directors and Executive Committee for 35 years and is in the Packers Hall of Fame. My mother, my brothers, my sister, my kids, and I are shareholders.
That's why the Packers are a nonprofit corporation. The nonprofit concept worked just as hoped: the Packers survived, still are in the NFL, still are in Green Bay, and cannot be sold or moved. If you want dividends, you can buy some other stock. I'm happy to own my piece of the Packers.
In the early 1920s, a number of midwestern towns had NFL teams -- Canton, Hammond, Rock Island, Racine, Muncie, Duluth, Akron, and so on. Most of those teams had shaky finances and a tenuous existence. Every year, some of those teams folded or moved.
In 1923, the Packers were in financial crisis. The team was at risk of folding. Curly Lambeau and several others hit upon the idea of becoming a nonprofit corporation and selling stock to raise the money to stay afloat. The people of Green Bay wanted to save their team. They were proud to have a professional team and they felt the Packers helped put Green Bay on the map. The idea of the stock drive was not to bring in investors to share the profits. Rather, the purpose was to raise enough money to save the team and keep it in Green Bay. The Packers raised enough money to survive the crisis. In 1934, the Packers again staved off bankruptcy with a second stock drive.
The Packers were the only small town team to survive the financial shakeout of the 1920s and early 1930s. By 1935, the NFL had teams only in the biggest cities, plus Green Bay.
After the 1949 season, the NFL absorbed the old All American Football Conference. In the reorganization that followed, the Packers were at risk. The Packers were on the verge of bankruptcy. They had the smallest town, the smallest stadium, and the lowest ticket prices. The NFL questioned whether it could make money in Green Bay. The commissioner tried to get the Packers to relocate. The team refused. The league gave the Packers an ultimatum: prove you can meet your financial guarantees to visiting teams, or you're out of the league.
The Packers decided to launch another stock drive. A group of four investors offered to buy a controlling share of the team for $200,000 if the team would convert to a for-profit corporation. If that had happened, the Packers today would be just another team owned by a rich guy. Fortunately, the board of directors rejected the offer out of hand. Instead, they affirmed their commitment to remaining a community-owned nonprofit corporation. They once again appealed to the people of Green Bay to buy stock. They imposed a limit on the number of shares that could be owned by any one person in order to protect against another attempt to take over the team.
My grandfather was one of the leaders of that 1950 stock drive. The stock drive raised over $125,000, which was enough to keep the team solvent. That was the last financial crisis. My grandfather ended up serving on the Packers' Board of Directors and Executive Committee for 35 years and is in the Packers Hall of Fame. My mother, my brothers, my sister, my kids, and I are shareholders.
That's why the Packers are a nonprofit corporation. The nonprofit concept worked just as hoped: the Packers survived, still are in the NFL, still are in Green Bay, and cannot be sold or moved. If you want dividends, you can buy some other stock. I'm happy to own my piece of the Packers.
The Packers were never intended to be a for-profit corporation.
In the early 1920s, a number of midwestern towns had NFL teams -- Canton, Hammond, Rock Island, Racine, Muncie, Duluth, Akron, and so on. Most of those teams had shaky finances and a tenuous existence. Every year, some of those teams folded or moved.
In 1923, the Packers were in financial crisis. The team was at risk of folding. Curly Lambeau and several others hit upon the idea of becoming a nonprofit corporation and selling stock to raise the money to stay afloat. The people of Green Bay wanted to save their team. They were proud to have a professional team and they felt the Packers helped put Green Bay on the map. The idea of the stock drive was not to bring in investors to share the profits. Rather, the purpose was to raise enough money to save the team and keep it in Green Bay. The Packers raised enough money to survive the crisis. In 1934, the Packers again staved off bankruptcy with a second stock drive.
The Packers were the only small town team to survive the financial shakeout of the 1920s and early 1930s. By 1935, the NFL had teams only in the biggest cities, plus Green Bay.
After the 1949 season, the NFL absorbed the old All American Football Conference. In the reorganization that followed, the Packers were at risk. The Packers were on the verge of bankruptcy. They had the smallest town, the smallest stadium, and the lowest ticket prices. The NFL questioned whether it could make money in Green Bay. The commissioner tried to get the Packers to relocate. The team refused. The league gave the Packers an ultimatum: prove you can meet your financial guarantees to visiting teams, or you're out of the league.
The Packers decided to launch another stock drive. A group of four investors offered to buy a controlling share of the team for $200,000 if the team would convert to a for-profit corporation. If that had happened, the Packers today would be just another team owned by a rich guy. Fortunately, the board of directors rejected the offer out of hand. Instead, they affirmed their commitment to remaining a community-owned nonprofit corporation. They once again appealed to the people of Green Bay to buy stock. They imposed a limit on the number of shares that could be owned by any one person in order to protect against another attempt to take over the team.
My grandfather was one of the leaders of that 1950 stock drive. The stock drive raised over $125,000, which was enough to keep the team solvent. That was the last financial crisis. My grandfather ended up serving on the Packers' Board of Directors and Executive Committee for 35 years and is in the Packers Hall of Fame. My mother, my brothers, my sister, my kids, and I are shareholders.
That's why the Packers are a nonprofit corporation. The nonprofit concept worked just as hoped: the Packers survived, still are in the NFL, still are in Green Bay, and cannot be sold or moved. If you want dividends, you can buy some other stock. I'm happy to own my piece of the Packers.
In the early 1920s, a number of midwestern towns had NFL teams -- Canton, Hammond, Rock Island, Racine, Muncie, Duluth, Akron, and so on. Most of those teams had shaky finances and a tenuous existence. Every year, some of those teams folded or moved.
In 1923, the Packers were in financial crisis. The team was at risk of folding. Curly Lambeau and several others hit upon the idea of becoming a nonprofit corporation and selling stock to raise the money to stay afloat. The people of Green Bay wanted to save their team. They were proud to have a professional team and they felt the Packers helped put Green Bay on the map. The idea of the stock drive was not to bring in investors to share the profits. Rather, the purpose was to raise enough money to save the team and keep it in Green Bay. The Packers raised enough money to survive the crisis. In 1934, the Packers again staved off bankruptcy with a second stock drive.
The Packers were the only small town team to survive the financial shakeout of the 1920s and early 1930s. By 1935, the NFL had teams only in the biggest cities, plus Green Bay.
After the 1949 season, the NFL absorbed the old All American Football Conference. In the reorganization that followed, the Packers were at risk. The Packers were on the verge of bankruptcy. They had the smallest town, the smallest stadium, and the lowest ticket prices. The NFL questioned whether it could make money in Green Bay. The commissioner tried to get the Packers to relocate. The team refused. The league gave the Packers an ultimatum: prove you can meet your financial guarantees to visiting teams, or you're out of the league.
The Packers decided to launch another stock drive. A group of four investors offered to buy a controlling share of the team for $200,000 if the team would convert to a for-profit corporation. If that had happened, the Packers today would be just another team owned by a rich guy. Fortunately, the board of directors rejected the offer out of hand. Instead, they affirmed their commitment to remaining a community-owned nonprofit corporation. They once again appealed to the people of Green Bay to buy stock. They imposed a limit on the number of shares that could be owned by any one person in order to protect against another attempt to take over the team.
My grandfather was one of the leaders of that 1950 stock drive. The stock drive raised over $125,000, which was enough to keep the team solvent. That was the last financial crisis. My grandfather ended up serving on the Packers' Board of Directors and Executive Committee for 35 years and is in the Packers Hall of Fame. My mother, my brothers, my sister, my kids, and I are shareholders.
That's why the Packers are a nonprofit corporation. The nonprofit concept worked just as hoped: the Packers survived, still are in the NFL, still are in Green Bay, and cannot be sold or moved. If you want dividends, you can buy some other stock. I'm happy to own my piece of the Packers.
08-08-2015, 03:25 PM
(08-08-2015, 03:16 PM)terry link Wrote:The Packers were never intended to be a for-profit corporation.
In the early 1920s, a number of midwestern towns had NFL teams -- Canton, Hammond, Rock Island, Racine, Muncie, Duluth, Akron, and so on. Most of them had shaky finances and a tenuous existence. Every year, some of those teams folded or moved.
In 1923, the Packers were in financial crisis. The team was at risk of folding. Curly Lambeau and several others hit upon the idea of becoming a non-profit corporation and selling stock to raise the money to stay afloat. The people of Green Bay wanted to save their team. They were proud to have a professional team and they felt the Packers helped put Green Bay on the map. The idea of the stock drive was not to bring in investors to share the profits. Rather, the purpose was to raise enough money to save the team and keep it in Green Bay. The Packers raised enough money to survive the crisis. In 1934, the Packers again staved off bankruptcy with a second stock drive.
The Packers were the only small town team to survive the financial shakeout of the 1920s and early 1930s. By 1935, the NFL had teams only in the biggest cities, plus Green Bay.
After the 1949 season, the NFL absorbed the old All American Football Conference. In the reorganization that followed, the Packers were at risk. The Packers were on the verge of bankruptcy. They had the smallest town, the smallest stadium, and the lowest ticket prices. The NFL questioned whether it could make money in Green Bay. The commissioner tried to get the Packers to relocate. The team refused. The league gave the Packers an ultimatum: prove you can meet your financial guarantees to visiting teams, or you're out of the league.
The Packers decided to launch another stock drive. A group of four investors offered to buy a controlling share of the team for $200,000 if the team would convert to a for-profit corporation. If that had happened, the Packers today would be just another team owned by a rich guy. Fortunately, the board of directors rejected the offer out of hand. Instead, they affirmed their commitment to remaining a community-owned non-profit corporation. They once again appealed to the people of Green Bay to buy stock. They imposed a limit on the number of shares that could be owned by any one person in order to protect against another attempt to take over the team.
My grandfather was one of the leaders of that 1950 stock drive. The stock drive raised over $125,000, which was enough to keep the team solvent. That was the last financial crisis. My grandfather ended up serving on the Packers' Board of Directors and Executive Committee for 35 years and is in the Packers Hall of Fame. My mother, my brothers, my sister, my kids, and I are shareholders.
That's why the Packers are a non-profit corporation. The non-profit concept worked just as was hoped: the Packers survived, still are in the NFL, still are in Green Bay, and cannot be sold or moved. If you want dividends, you can buy some other stock. I'm happy to own my piece of the Packers.
Love this story. Thanks. Do you live in Green Bay or plan to retire there? Gotta keep the story moving ahead.
“Tact is the ability to tell someone to go to Hell in such a way that they look forward to the trip." W. Churchill
(08-08-2015, 03:16 PM)terry link Wrote:The Packers were never intended to be a for-profit corporation.
In the early 1920s, a number of midwestern towns had NFL teams -- Canton, Hammond, Rock Island, Racine, Muncie, Duluth, Akron, and so on. Most of them had shaky finances and a tenuous existence. Every year, some of those teams folded or moved.
In 1923, the Packers were in financial crisis. The team was at risk of folding. Curly Lambeau and several others hit upon the idea of becoming a non-profit corporation and selling stock to raise the money to stay afloat. The people of Green Bay wanted to save their team. They were proud to have a professional team and they felt the Packers helped put Green Bay on the map. The idea of the stock drive was not to bring in investors to share the profits. Rather, the purpose was to raise enough money to save the team and keep it in Green Bay. The Packers raised enough money to survive the crisis. In 1934, the Packers again staved off bankruptcy with a second stock drive.
The Packers were the only small town team to survive the financial shakeout of the 1920s and early 1930s. By 1935, the NFL had teams only in the biggest cities, plus Green Bay.
After the 1949 season, the NFL absorbed the old All American Football Conference. In the reorganization that followed, the Packers were at risk. The Packers were on the verge of bankruptcy. They had the smallest town, the smallest stadium, and the lowest ticket prices. The NFL questioned whether it could make money in Green Bay. The commissioner tried to get the Packers to relocate. The team refused. The league gave the Packers an ultimatum: prove you can meet your financial guarantees to visiting teams, or you're out of the league.
The Packers decided to launch another stock drive. A group of four investors offered to buy a controlling share of the team for $200,000 if the team would convert to a for-profit corporation. If that had happened, the Packers today would be just another team owned by a rich guy. Fortunately, the board of directors rejected the offer out of hand. Instead, they affirmed their commitment to remaining a community-owned non-profit corporation. They once again appealed to the people of Green Bay to buy stock. They imposed a limit on the number of shares that could be owned by any one person in order to protect against another attempt to take over the team.
My grandfather was one of the leaders of that 1950 stock drive. The stock drive raised over $125,000, which was enough to keep the team solvent. That was the last financial crisis. My grandfather ended up serving on the Packers' Board of Directors and Executive Committee for 35 years and is in the Packers Hall of Fame. My mother, my brothers, my sister, my kids, and I are shareholders.
That's why the Packers are a non-profit corporation. The non-profit concept worked just as was hoped: the Packers survived, still are in the NFL, still are in Green Bay, and cannot be sold or moved. If you want dividends, you can buy some other stock. I'm happy to own my piece of the Packers.
Love this story. Thanks. Do you live in Green Bay or plan to retire there? Gotta keep the story moving ahead.
“Tact is the ability to tell someone to go to Hell in such a way that they look forward to the trip." W. Churchill
08-08-2015, 03:26 PM
(08-08-2015, 03:16 PM)terry link Wrote:The Packers were never intended to be a for-profit corporation.
In the early 1920s, a number of midwestern towns had NFL teams -- Canton, Hammond, Rock Island, Racine, Muncie, Duluth, Akron, and so on. Most of them had shaky finances and a tenuous existence. Every year, some of those teams folded or moved.
In 1923, the Packers were in financial crisis. The team was at risk of folding. Curly Lambeau and several others hit upon the idea of becoming a non-profit corporation and selling stock to raise the money to stay afloat. The people of Green Bay wanted to save their team. They were proud to have a professional team and they felt the Packers helped put Green Bay on the map. The idea of the stock drive was not to bring in investors to share the profits. Rather, the purpose was to raise enough money to save the team and keep it in Green Bay. The Packers raised enough money to survive the crisis. In 1934, the Packers again staved off bankruptcy with a second stock drive.
The Packers were the only small town team to survive the financial shakeout of the 1920s and early 1930s. By 1935, the NFL had teams only in the biggest cities, plus Green Bay.
After the 1949 season, the NFL absorbed the old All American Football Conference. In the reorganization that followed, the Packers were at risk. The Packers were on the verge of bankruptcy. They had the smallest town, the smallest stadium, and the lowest ticket prices. The NFL questioned whether it could make money in Green Bay. The commissioner tried to get the Packers to relocate. The team refused. The league gave the Packers an ultimatum: prove you can meet your financial guarantees to visiting teams, or you're out of the league.
The Packers decided to launch another stock drive. A group of four investors offered to buy a controlling share of the team for $200,000 if the team would convert to a for-profit corporation. If that had happened, the Packers today would be just another team owned by a rich guy. Fortunately, the board of directors rejected the offer out of hand. Instead, they affirmed their commitment to remaining a community-owned non-profit corporation. They once again appealed to the people of Green Bay to buy stock. They imposed a limit on the number of shares that could be owned by any one person in order to protect against another attempt to take over the team.
My grandfather was one of the leaders of that 1950 stock drive. The stock drive raised over $125,000, which was enough to keep the team solvent. That was the last financial crisis. My grandfather ended up serving on the Packers' Board of Directors and Executive Committee for 35 years and is in the Packers Hall of Fame. My mother, my brothers, my sister, my kids, and I are shareholders.
That's why the Packers are a non-profit corporation. The non-profit concept worked just as was hoped: the Packers survived, still are in the NFL, still are in Green Bay, and cannot be sold or moved. If you want dividends, you can buy some other stock. I'm happy to own my piece of the Packers.
Thanks for sharing. That's an awesome story!
(08-08-2015, 03:16 PM)terry link Wrote:The Packers were never intended to be a for-profit corporation.
In the early 1920s, a number of midwestern towns had NFL teams -- Canton, Hammond, Rock Island, Racine, Muncie, Duluth, Akron, and so on. Most of them had shaky finances and a tenuous existence. Every year, some of those teams folded or moved.
In 1923, the Packers were in financial crisis. The team was at risk of folding. Curly Lambeau and several others hit upon the idea of becoming a non-profit corporation and selling stock to raise the money to stay afloat. The people of Green Bay wanted to save their team. They were proud to have a professional team and they felt the Packers helped put Green Bay on the map. The idea of the stock drive was not to bring in investors to share the profits. Rather, the purpose was to raise enough money to save the team and keep it in Green Bay. The Packers raised enough money to survive the crisis. In 1934, the Packers again staved off bankruptcy with a second stock drive.
The Packers were the only small town team to survive the financial shakeout of the 1920s and early 1930s. By 1935, the NFL had teams only in the biggest cities, plus Green Bay.
After the 1949 season, the NFL absorbed the old All American Football Conference. In the reorganization that followed, the Packers were at risk. The Packers were on the verge of bankruptcy. They had the smallest town, the smallest stadium, and the lowest ticket prices. The NFL questioned whether it could make money in Green Bay. The commissioner tried to get the Packers to relocate. The team refused. The league gave the Packers an ultimatum: prove you can meet your financial guarantees to visiting teams, or you're out of the league.
The Packers decided to launch another stock drive. A group of four investors offered to buy a controlling share of the team for $200,000 if the team would convert to a for-profit corporation. If that had happened, the Packers today would be just another team owned by a rich guy. Fortunately, the board of directors rejected the offer out of hand. Instead, they affirmed their commitment to remaining a community-owned non-profit corporation. They once again appealed to the people of Green Bay to buy stock. They imposed a limit on the number of shares that could be owned by any one person in order to protect against another attempt to take over the team.
My grandfather was one of the leaders of that 1950 stock drive. The stock drive raised over $125,000, which was enough to keep the team solvent. That was the last financial crisis. My grandfather ended up serving on the Packers' Board of Directors and Executive Committee for 35 years and is in the Packers Hall of Fame. My mother, my brothers, my sister, my kids, and I are shareholders.
That's why the Packers are a non-profit corporation. The non-profit concept worked just as was hoped: the Packers survived, still are in the NFL, still are in Green Bay, and cannot be sold or moved. If you want dividends, you can buy some other stock. I'm happy to own my piece of the Packers.
Thanks for sharing. That's an awesome story!
08-08-2015, 04:36 PM
I thank your grandfather for making my formative years full of joy and excitement that would have been greatly diminished without the Green Bay Packers in my life.
I was the only Packer fan in the whole area. While my friends suffered every single time their favorite teams faced my powerful Packers, I danced the dance of supremacy around their weeping, collapsed psyches; laughing at their contorted souls. 8)
(may not necessarily have been the kind of joy your grandfather was trying to preserve, but it was great for me)
I was the only Packer fan in the whole area. While my friends suffered every single time their favorite teams faced my powerful Packers, I danced the dance of supremacy around their weeping, collapsed psyches; laughing at their contorted souls. 8)
(may not necessarily have been the kind of joy your grandfather was trying to preserve, but it was great for me)
"It's not what you don't know that gets you in trouble. It's what you think you know that just isn't so."
Mark Twain
I thank your grandfather for making my formative years full of joy and excitement that would have been greatly diminished without the Green Bay Packers in my life.
I was the only Packer fan in the whole area. While my friends suffered every single time their favorite teams faced my powerful Packers, I danced the dance of supremacy around their weeping, collapsed psyches; laughing at their contorted souls. 8)
(may not necessarily have been the kind of joy your grandfather was trying to preserve, but it was great for me)
I was the only Packer fan in the whole area. While my friends suffered every single time their favorite teams faced my powerful Packers, I danced the dance of supremacy around their weeping, collapsed psyches; laughing at their contorted souls. 8)
(may not necessarily have been the kind of joy your grandfather was trying to preserve, but it was great for me)
"It's not what you don't know that gets you in trouble. It's what you think you know that just isn't so."
Mark Twain
08-09-2015, 12:28 PM
This made me chuckle as I just realized what Garvin must feel about my choice of living option at Stanford, a coop.
I did this not for an political reason, but because as an introvert, I knew this was my best option for making friends. The other Manzanita Park (I didn't think I'd stay warm enough in the winter); Crothers and Cro Mem, the only grad dorms at the time; Mirrelees;Â and Escondido Village.
I did this not for an political reason, but because as an introvert, I knew this was my best option for making friends. The other Manzanita Park (I didn't think I'd stay warm enough in the winter); Crothers and Cro Mem, the only grad dorms at the time; Mirrelees;Â and Escondido Village.
This made me chuckle as I just realized what Garvin must feel about my choice of living option at Stanford, a coop.
I did this not for an political reason, but because as an introvert, I knew this was my best option for making friends. The other Manzanita Park (I didn't think I'd stay warm enough in the winter); Crothers and Cro Mem, the only grad dorms at the time; Mirrelees;Â and Escondido Village.
I did this not for an political reason, but because as an introvert, I knew this was my best option for making friends. The other Manzanita Park (I didn't think I'd stay warm enough in the winter); Crothers and Cro Mem, the only grad dorms at the time; Mirrelees;Â and Escondido Village.
08-13-2015, 10:52 AM
(08-08-2015, 03:25 PM)ferrari link Wrote:Love this story. Thanks. Do you live in Green Bay or plan to retire there? Gotta keep the story moving ahead.
Thanks, Ferrari. No, I don't live in Green Bay. I'm in the Bay Area. I'll be visiting Green Bay when I go back to Chicago for the Stanford-Northwestern game. I'm looking forward to seeing the new, improved Packers Hall of Fame.
(08-08-2015, 03:25 PM)ferrari link Wrote:Love this story. Thanks. Do you live in Green Bay or plan to retire there? Gotta keep the story moving ahead.
Thanks, Ferrari. No, I don't live in Green Bay. I'm in the Bay Area. I'll be visiting Green Bay when I go back to Chicago for the Stanford-Northwestern game. I'm looking forward to seeing the new, improved Packers Hall of Fame.
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