The NHL is having trouble keeping teams where they are. Thrashers or Coyotes destined for Winnipeg. Hyperinflation in the U.S. might make the NHLPA receptive to more “Canadian” destinations
Story:
Winnipeg has been assured a franchise by the NHL?
Oh, really?
Forget the old days where it was taboo to disrupt the fans and the viability, vitality, or whatever “V” word Bill Daly felt good about that day, the time to suck the money dry of deep pockets might be over.
Take this picture of a group of guys that might as well be three times as many….the owners of the conglomerate of the Atlanta Thrashers.
Click the pic to see why the “Atlanta Spirit LLC” is running out of resources to keep the spirit alive in Atlanta.
The fans, it is claimed, are discerning on how they want to spend their money.
More like, the fans are broke, the State is broke, and the U.S. is broke.
U.S. unemployment is jokingly and pathetically posted at 9. (something) %. Want the truth, things are so bad people have given up looking for work — they aren’t part of the numbers. True unemployment is conservatively well over 20%.
Discerning fans may be choosing food or overpriced NHL hockey….hmmmm let’s think - – Food wins!
The days of overpriced athletics is going quickly by way of the DoDo bird.
In the short run, Canada will be the newfound hero, where suddenly, with the Canadian buck priced over the U.S. greenback, there will not be the argument that the players are paid in U.S. dollars. Soon the NHLPA will be negotiating the players be paid in Yuan or Renminbi, or how about gold or silver coins? Players in the NHL may be looking at how much their pay is worth, similar to the way we look at how gas prices look ’cause the tank is low, and well, can I hang on ’till tomorrow?
Gary Bettman perhaps saw the future a long time ago. Those deep pocketed guys that were easy to abuse like Jerry Moyes are long gone. The groups of 10, 12, heck 25 won’t cut it either.
Perhaps they should sell shares of the NHL teams at the arena by the same vendors that sell programs. I can hear it now, Programs, shares, get your ownership here!
Tony Tavares’ pockets weren’t deep enough not long ago….my my, how things change quickly!
So, Glendale has been downgraded by Moody’s rating agency, but not low enough to completely put them in the extreme risk category. Despite the fact that their debt is much higher than similar municipalities throughout the country.
The bonds have been given a rating of A1, the lowest of the “A” ratings, and will officially go on sale Tuesday. The all-important interest rate to be paid on the bonds has not been released but it must be made public before the sale period begins. Industry speculation has the rate being pegged anywhere from six per cent to nine per cent.
In its report, Moody’s downgraded Glendale’s general obligation rating to Aa1 from Aa2 but revised its outlook on the city’s general obligation and related ratings to “stable” from “negative.”
Which begs the question. Who do you have to do a favor for to ensure a little bit better rating? Come on, we all know the game is played!
There are foreclosures in Glendale that have the folks who used to own the homes wondering what happened. There are pension plans that are wondering why they bought securities where homes were bundled in, and turned into derivative investments based on no underlying asset.
There are lawsuits going on in court where banks are trying to foreclose on people’s property, with just one little glitch – - they do not have proper title to go through with it.
The bankers have done what they do best. If you happened to catch Jesse Ventura’s Conspiracy Theory show when he confronted the Goldman Sachs “white shoe boys”, as Gerald Celente would say, the big argument they had was, hey, if they let us do it, it is their fault. Pass the buck 101. If you can get away with it, why not? Have a look at this segment on the Wall Street episode:
Notice when Ventura questioned the fact that bankers worldwide seemed to come from Goldman Sachs, including the “Canadian National Bank”.
Should we in Canada then be surprised to read headlines like this?: “
Flaherty’s income trust was structured by Mark Carney in such a way that only the little investor was taxed and the big guys were given a free ride. Not only were the big guys given a free ride, this tax was imposed in such a way that the big guys were able to prey upon the small investor and expropriate wealth from the small investor in the amount of some $35 billion.
The white shoe boys, eh Gerald? Hmmm…
“Can any adult say bribes and payoffs”? Gerald, stop, your killing me. “When you retire you want a piece of it back”, Gerald, yeah we do. But I guess the white shoe boys, strategically placed from the ivy league of finance have other ideas.
The rules for these guys are different than for the average folk, right?
False numbers, corrupt investment brokers, Congress held captive or manipulated by corruption. But it could not have easily been pulled off without the co-operation of the ratings agencies. Why were they so accommodating to ensure the con took hold? The above clip tells us that Moody’s was part of the conspiracy to bolster the true value of the toxic waste known as the derivatives from Wall Street bankers like Goldman Sachs.
At issue are ratings on so-called constant-proportion debt obligations, investment vehicles that borrowed heavily to bet on credit-default swaps. (Swaps, in turn are a way to bet on, or hedge against, companies defaulting on their debt.) Trying to understand CPDOs will make your brain explode, but suffice to say they were designed by Wall Street’s rocket scientists to pay investors high returns at what appeared to be low risk.
That’s exactly how many sub-prime mortgage bonds were structured, of course. Whoops.
Ironically, we had the CEO of J.P. Morgan Chase, Jamie Dimon telling us all not long ago to beware of municipal bonds because they are risky.
The same bond rating agency is now determining the value of Glendale’s bonds?
Once you are part of a scam related to other people’s money, who can trust you again?
Beware investors.
Moody’s has failed to advise the true state of Arizona. Under fire from the illegal drug war that is encroaching the borders of Arizona as we have reported before.
The “long-term” risk is the issue. Stability is the issue., Uncertainty of the economics of Glendale and the U.S. as a stable investment is in question, and not what should be supporting Glendale’s bond bid. But that information wouldn’t help the cause much would it?
Oh, and did we mention the Goldwater Group is still ready to pounce too?
In the new global economy, sovereignty is gone, protection is a twisted concept, and Protectionism is taboo
Wimpy: "I'll gladly pay you Tuesday for a hamburger today"
Yes, this is a story of the Phoenix Coyotes hockey team.
The team whose name it was suggested should be changed to the Glendale Coyotes if it were to be sold, to give it a truer name. After all, it was no longer located in Phoenix – it was for the last several years in Glendale.
Canadians are looking upon the disaster in the U.S. economy with similar “distance”. Yeah, it’s really too bad the Americans are having a hard time. Good thing we live in Canada.
And, did you happen to catch President Obama’s State of the Union address last night? I haven’t yet, but I read a short recap. He has “challenged” business to step it up in “some way”. At this point it’s all just watching his lips move, and hearing sound come out, because it’s all hooey isn’t it?
I get around on my job. I can’t believe what I am hearing lately. We in Canada get it more than I thought. We could be waking up too.
Perhaps we are not like Glendale saying how great they are for hockey compared to Phoenix. Glendale must be safer, being so much further removed from the Mexican drug wars. Or is it, I don’t know.
Kind of silly if you ask me. Silly because nobody is going to escape what is happening globally, not just locally.
Europeans are feeling the heat. They are rioting. Politicians in charge keep flapping their lips the world over, and sound comes out of their mouths. But their talk does not match the reality of what we see, backed up by the gut feeling we have that something is really not right.
Hockey isn’t right unfortunately for the people of Phoenix, er excuse me, Glendale. Unfortunate but true.
The entire region is a reflection of what is inevitable unless we as North Americans, and global citizens step to the plate and stand for the rights and safety of our neighbors – whether they are in the next City, the next Province/State, or the next country, continent, or timezone.
It’s thinking that we somehow will not be affected and we are more deserving because we are better prepared to take care of the spoils than our “unfortunate” neighbour.
Winnipeg may be in a better position to take on the Coyotes, or Thrashers, or whichever team for now, as the country known as the U.S. enters the result of what the corrupt in government have directed as puppets. Behind the scenes pulling the strings of the talking head politicians are the the elite looking to destroy the people, their rights, their freedoms, and their borders.
While the elite have cleared out to South America, China, and other remote places, they didn’t bother to tell anyone they also left the system of lies for the rest of us. While they invest in hard assets like gold and silver (and buy land over water aquifers), they direct the media they control to tell us the stock markets are fine, and don’t pay attention to the rumors that hyperinflation is a heartbeat away. No, they want to ensure more of us are left high and dry when the sudden collapse of the empire takes place. Isn’t that right, Mr. Ferguson?
How long will the words of Stephen Harper be insignificant words, where his lips flapped, and sound came out, until we realize we should have questioned those words, sentences, and phrases?
How long will it be before we realize that they are slipping an agenda by us as we continue to sleep? Like a post- hypnotic suggestion our psyche is yelling – “Hello, danger, danger”. Yeah, something doesn’t feel right, because something just isn’t right. It’s not about butterflies for crying out loud!
Obama’s lips will continue to move, and sound will come out – - all the while supporting Mexican trade and co-operation, even though the war further invades American soil.
Obama will continue to bow to world leaders such as China, as they come and play piano concertos that include how great their victory over America is.
While they tell us that it is a global economy, they tell us to not even trust our neighbours because they could be terrorists. While global should mean free movement, they are installing full naked body scanners at airports, suggesting that mere travel is hazardous.
They are isolating us more, while telling us to branch out to the world.
How will they pull off selling us this conflict in ideas, and get us to agree to whatever it is they are trying to accomplish?
Well, doesn’t hockey bring the answer again.
If you have any experience with kids hockey you might have experience with the ever-challenging “rep tryout” process. The kids and the parents act very accommodating to the powers that decide if the kid makes the team or not, don’t they?
I don’t think I will ever forget the suggestion from a coach that said it plainly. As long as you don’t cut my kid, sorry about the luck of the others.
The suggestion is that parents, kids, and people in general will sacrifice standing up for the rights of others if it means they get spared themselves. Sad yes. True – unfortunately yes.
The powers in the world have known this for years. Hitler was a master at ensuring this process started with a few targets, and eventually it didn’t matter who was put “on the train”. It was all just a process to see who would buy the propaganda, and how easily manipulated the people would be. And, we know they were.
Glendale needs to understand that their town is not immune to the turmoil in Arizona that is affecting Phoenix. Winnipeg needs to understand that the spoils of NHL hockey is because a global neighbour has suffered greatly, and the spoils will be short lived if we are willing to turn our backs on the injustice.
Eventually this infection will affect us all. It already has.
It’s time to challenge the politicians whose lips move, and sounds come out for what this really is. It’s time to wonder why there are telescreens in Wal-Marts suggesting Americans should spy on their American neighbours while Obama ignores the threat of drug wars blatantly crossing Mexico into Arizona. It doesn’t add up.
If we opened our eyes to reality, the pictures might have underlying words that paint a story far removed from what they are telling us.
First it was Jerry Moyes. Then, Jerry Reinsdorf, Steve Ellman, and let’s not forget Ice Edge. And now, it’s Matthew Hulsizer’s turn. Anyone lulled to sleep yet?
Hey, wait a minute!
We have seen this whole parking subsidy thing before. Lot’s of times. So why should it be different now?
Yeah, that’s right – when the Goldwater Group were challenging the Arizona Gift Laws at Phoenix’s CityNorth over the parking spots worth about $500,000 each, we had the first glimpse of hope in Canada that might suggest Glendale would have a problem with granting the concessions Jerry Reinsdorf expected.
And, let’s not forget it was Jerry Moyes who was not able to negotiate concessions when he owned the Coyotes, but that’s right, he wasn’t the chosen “Jerry” – the one who would be that white knight, riding on the knowledge of sports team management. He also wasn’t that “Jerry” who had a son working on several sports projects with the City of Glendale. No, this Jerry was not on the inside of the club, so to speak, whether it was the NHL, or the favor of the City that supported his hockey team.
It wasn’t until a few moments ago that it hit me that a pig is a pig, even if you dress the pig in a different outfit. At the end of the day it’s still a pig.
The Toronto Sun reminded me that the parking concessions were just a glorified excuse to give Hulsizer subsidies:
Yes, the whole thing sounds like a thinly veiled handout, which is why Goldwater smells a violation of Arizona law’s “gift” clause, and is threatening to go to court to block the deal.
Now, we must remember something else (like we could forget!). The City of Glendale was pig-headed in their stubborn stance, and would not budge for any offer the Balsillie legal team could come up with – $50 million? No thanks.
Sitren: Not one to put up with abuse of the taxpayer
No, Glendale needed the hockey team come hell or high water. Too bad they didn’t count on the other stubborn entity in Arizona – the Goldwater Group, founded on the merits of conservatism and common sense, and it’s founder Barry Goldwater. He’d no doubt be proud of the current legal team led by attorney Carrie Ann Sitren.
It was Sitren in CityNorth that stands out as the attorney in the news. Slowly, methodically, waiting in the wings to monitor governments gone awry from corruption that breeds when corporate America takes root in government, and like a leech, feeds off the host until there is no longer anything to suck out. And she was on the case early to put Glendale on notice she needed their full cooperation too. I’d like to know why some emails were withheld for reasons of “best interest”. Who’s best interest?
And why would Goldwater want to do a thorough job to ensure fairness and ensure the City is acting in the taxpayers best interest?
Because the last thing anyone needs to hear more of is stuff like this:
“Dude, your getting a …. sweet parking lot deal!”
“And, Abu Dhabi, your getting a sweet deal too!” All from those easy to leech taxpayers, muhahahaha”.
Who knows how corruption takes hold ? It festers and boils and seeps into positions of power and influence – so watchdog groups are a necessary counter-evil.
We need only look to the G.M. dealer fiasco where if you were a dealer with a democratic friend in congress you might have miraculously had your dealership spared, while others not so lucky were not even able to get a payout for a service list. I think Michele Bachman called that (well, she borrowed the phrase) a Gangster Government .
I think we can safely say it is when corporate America corrupts (or buys) the politicians, and anything remotely fair become far from reality. The other telltale sign is a push to monopolization – where certain key players are given favor for no better reason than piling more spoils onto the heap.
Now, here’s the kicker.
The City of Glendale says that it will “hurt” the taxpayer if the Goldwater Group does their due diligence. Excuse me – hurt the taxpayer? Surely they jest?
Would it be the same taxpayers that said they were not interested in bailing out the Coyotes if it meant tax concessions? Those taxpayers?
How about this?
How about it would hurt the corrupt sellouts in government who used their offices to make promises with someone else’s money for personal gain? Would that be closer to the truth? I suppose we could argue the corrupt politicians are also taxpayers – but certainly not the majority. And the majority have no vested interest in ensuring the “deal” remains in place.
So, the Goldwater Group might just have an opportunity to come out of their patient position and flex their muscles again – preserving liberty in America.
And with liberty being the question, little victories mean a lot. Not to suggest this would be a small victory. For in a world where black is becoming white, and crime pays, it is important to stand for liberties and the little guy.
I understand the phrase – “He who laughs last, laughs the loudest” now more than ever.
With gas prices expected to continue to rise, and Obama wanting to create public transit a la LRT service, there may not be too many cars in the future needing to park anyhow.
That just might be poetic justice that will bring some justice to the “Jerry” who never got a fair shake. He may have full right to laugh the loudest, but I don’t think he will find it one bit funny.
What in the world is happening with the way the globe looks at credit and risk? Here’s a hint, it’s not good for Glendale looking to raise significant cash to pay lucrative concessions to Matthew Hulsizer.
China and Russia have decided to trade amongst themselves in a currency that is NOT the U.S. dollar.
China is reducing it’s position in U.S. treasury bonds. It is also bailing out Europe. But, there is a new way to do business for China.
China Select Capital Partners have issued bonds on the Toronto Stock Exchange looking for foreign investment sources:
“We are one of the first movers in our nascent industry and eager to capitalize on the growing China private equity market through facilitating foreign investment in China and managing Renminbi-denominated funds.”
The strategy away from the United States bond holdings is underway for China. Instead, they are looking to take ownership positions in firms in the U.S. And that is to the tune of an initial $9.6 Billion which includes banks, even Coca-Cola:
The filing offers a glimpse of how China is trying to diversify its more than $2 trillion in foreign currency holdings with stock, rather than investing almost entirely inUnited States Treasury bonds and other debt securities issued by governments and by government-sponsored enterprises like Fannie Mae.
The worry is there’s credit contagion going on and that a replay of the mortgage market (meltdown) is now hitting the municipal bond market,” said Jack Ablin, chief investment officer of Chicago-based Harris Private Bank, a division of BMO.
Ablin isn’t predicting the sky will fall in Glendale but he said many American cities and towns are financially stretched with rising debts and falling tax revenues. They’re also bearing the brunt of the pullback from the private sector over the last two to three years.
He described the municipal bond market as a “patchwork quilt” of offerings with an average size of $30 million. The money raised is typically used to fund upgrades to sewer systems, hospitals, schools and sports facilities.
In recap, you have foreign investors leary of bonds preferring ownership positions directly in corporate America, and who knows what the folks in Abu Dhabi are thinking.
And if you think the sub-prime mortgage fiasco, leading into the derivative scandal was fun, you ain’t seen nothing yet - – watch the bubble burst on commercial real estate for the next round of incredible U.S. slaughter known as their economy.
Should be an interesting close to a very twisted case that has Canadians on the edge of their collective seats.
Okay, I want Canada, the U.S. and the free world to get a serious grip right now.
Yes, we were stunned by the Russian sudden comeback in the third period of the Junior Gold Medal game, and the collapse was the greatest ever seen in junior hockey.
Okay, this is hockey, and Canada’s game.
But I want to draw attention to what should be the channeling of our frustration.
Canada might feel ripped off right now that our hockey liberties have been stripped, that’s true. Maddening isn’t it? Sudden, wasn’t it? Hard to believe, eh?
For the last long while, this site has switched from the injustice of losing a seventh and eighth NHL team, that enraged at least those of us in the Hamilton area. As for the rest of Canada, I’m not so sure.
But what is important is the reason we will not likely see NHL hockey anytime soon. The reason is foreign investment in the new world of sports, that mirrors the foreign control of our countries in the New World Economic Order, also simply known as the New World Order.
We can channel our frustration and the sudden devastation to realize there could be another devastating collapse of greater significance – and that will be the collapse of the economies of the United States and Canada, as is happening in Europe right now.
We have been taken for a financial ride from the time most of our pensions and investments took a 40 to 50% hit not long ago, as it was tied into the derivative scam instigated by the corrupt elite, who control the banking cartel.
Oh, they are sharp. They are well-organized. And they are capable of pulling the plug on the economy which, when it comes, it will leave us with our mouthes hanging open.
The hockey loss we will get over much easier, as hard as it may seem.
If you want a new cause to waive the Canadian flag, take this year to get informed of the injustice that is being imposed on us all.
And ask Mr. Harper our Prime Minister why exactly it is we need to give up our sovereignty.
2009: The continued suggestion that sovereignty is for sale
2010: Let’s make this a little clearer now, shall we?
Inter-financial affairs are one thing that should NOT include loss of sovereignty.
What does a global trading reality have to do with interlinked banking systems that, by association, is linked to sovereignty? This sounds very shady indeed! But, no shadier than the way they signed a secret agreement for the prosperity arrangement that is leading to the North American Union.
While Janet Napolitano has video feeds at Wal Mart stores urging to “see something, say something”, we have open Mexican borders that have led to abductions and murders, and has sheriffs begging for help to seal the borders. This is a huge conflict in the so called homeland security issues, and further supports the reality that it is the citizens in the U.S. and Canada that are losing rights and freedoms, and are the big targets of the government and its military.
Our identity as a nation, and our rights and freedoms have nothing to do with the global economy. But the sad reality as evidenced by the prorogue of Parliament and the G20 marshall law (police) state paints a much different story – a story that fits a loss of freedoms.
Make no mistake, this is the greatest injustice that Canada will ever see.
Turkey Lurkey looked up at the sky – “The sky is falling, the sky is falling”. But the others just laughed at Turkey Lurkey. “Go away Turk, the sky isn’t falling, everything is just great!”
Well, that is the mixed feelings I get when I think of all things corruption, all things priority, and the sleeping in Arizona. It has been quite a ride of two extremes – those worried about losing their hockey team, and others worried about losing absolutely everything. And, sad and ironic as it seems, there are those in Arizona that have no clue how bad things are, and fear for the Phoenix Coyotes.
And the biggest question has always been why someone would be interested in taking on the albatross of the Phoenix Coyotes. The team has never turned a profit. Goldwater has always been waiting in the wings to extend their arm to slap a little reality to the collective faces of those that think the Coyotes, somehow, will be the miracles on ice that will somehow make everything better. But, those worried on the bigger scale are probably more worried about tax reform, and trying to do what they can to control foreign interests from taking over not only Arizona, but the entire U.S. . And here comes the head-shaking -
“Come on man, it’n not that bad!” The U.S. has never had a problem. We will be okay. Sure we are going through hard times, but it will get better. The new owner thinks he can turn this team into a profit maker. Yeah, he wants to be able to buy the arena if things don’t work out, but that’s not the motivation here, no. He wants to ensure we get hockey. He wants to ensure Glendale doesn’t have to give up the dream, or end up with the sad little team being treated like any other foreclosure in Arizona.
How’s that working for the residents of Glendale that have been turfed on the street?
Giving up on the Coyotes would be like letting a home slide into foreclosure, Scruggs said.
“Think of what that would say to the public if we closed the arena,” she said.
Let’s think for a moment. What would it say to the public, what would it say, hmmmm?
For one, remember when the vote against keeping the Coyotes if it meant concessions was unpopular to the tune of 70% of residents wanting to let the team go?
Even though my Administration has already cut $1 Billion in state government spending, we must redouble our efforts to create a leaner, more fiscally responsible Arizona.I have asked all 90 members in the State Legislature to cooperate by submitting a reasonable plan. On behalf of citizens across our state, I expect them to become active participants in the budget process.
This problem did not happen overnight.
· Five years of spending nearly doubled state government.
· The economic recession has reduced state revenues by almost 40 percent in just 3 years.
· Population growth in school children, university students, health care and welfare populations and inmates in our state prisons has fundamentally ruled out simplistic solutions like rolling the state budget back to levels from five, six, or more years ago.
· Federal and voter mandates prevent us from touching nearly two-thirds of the state budget.
· And procrastination, denial, and lack of will have allowed these problems to fester.
So excuse the people who care more about their State than just hockey in Glendale, Mayor really! Methinks there was a little lease contract that has sold out the City, what do you think? In deep, in tight, in trouble. Does that pretty much sum up the desperation?
If you live in southern Arizona now is the time to move if you can. Mexican drug runners and executioners armed with automatic weapons now control three counties stretching from the border to Phoenix.
“We are outgunned, we are out manned and we don’t have the resources here locally to fight this,” admitted Pinal County Sheriff Paul Babeu during on news conference last week in Casa Grande. “We are three counties deep. How is it that you see pictures like these, not American with semi and fully automatic rifles. How is that okay?”
And by the way, do you think the open borders of Mexico would make it easy for a few terrorists to come on over? Just askin’!:
Earth to Napolitano, I think the sheriff has seen something, and is saying something….hello Janet? Janet, are you there? Yeah, I know it’s not happening in a Wal-Mart store, but give it time. At this rate it will be happening everywhere. I think we can see where the problem lies Janet – open borders Janet – close the borders. That is, unless this is the beginning of the North American Union, and each citizen pitted against his fellow (innocent) citizen. And let’s not forget the immunity the drug lords have as they wield their semi-automatic rifles. Right on – we must be watching the Wal-Mart shoppers – so much more important.
Did I hear Turkey Lurkey? Never mind, that’s okay, just keep wondering how losing your hockey team will look! That is so much more important.
And then we have the new soap opera that has been played out over (has it been over a year already??) – “As the Coyotes Turn”.
It may be really easy to promise a long term commitment when things are going south so fast, who knows how long, “long” really will be.
And we haven’t forgotten the words previously told by those in the hedge fund business. A “distressed asset” is often a good buying opportunity.
But, don’t forget, there are those that do this with no alterior motive, and love to give their money away into perpetuity. The turnip truck? The line forms to the left…
Scruggs, who would not say whether the city planned to pledge money to the team, pointed out that Hulsizer told reporters this week that he was prepared to suffer losses on the team for “quite a while.”
Who are the hedge men in this scenario? Anybody? Anybody? Hint: all the boys drooling over the “business reasons” for owning the hockey team, that we must remember was a “business reason”, and one where it was commented that “who wants to go to a game in Phoenix anyways?”. Figure it out yet? There’s profit potential somewhere – but where? Could it be? No! Couldn’t be about more than hockey? No! Nor could it be what David Zirin described to us before – rich guys taking a sweet little taxpayer deal, and sucking what wealth is left. No, couldn’t be that!
You might also want to divert your tunnel vision to what could be the biggest problem, that (and I will use Mr. Bettman’s words here) will make this little hockey diversion “pale in comparison”.
My hunch is there is work and business opportunities in Arizona. The only question is, is it what the residents of Phoenix and Glendale think?
We had reported on the foreclosures in Arizona, and mentioned the fact that municipalities have plenty of reasons to link up with firms that can aid in tax collection. There is an unpleasant but lucrative business opportunity related to unpaid property taxes. Buying for back taxes and selling for more is one way, but beware, without proper title and the derivative, mortgage backed-securites being in question, this could be risky. You might not end up owning what you think you paid for. But that is not for this discussion.
Remembering that the Phoenix Coyotes hockey team was more about land development and not hockey, we have continued to look for connections surrounding business people who have been partnering with Glendale to solve the hockey issue. The question about being a “business reason” to own the Coyotes, where there would be sources of revenue outside of hockey stays prominent in focus.
Strange for a team looking for a dedicated owner(s). And Anthony LeBlanc had tipped us off that Canadians were snapping up real estate in Arizona. Foreclosures were ripe for the pickins.
The above paints a vague picture that might suggest the business opportunity is related to properties, because, who the heck is really interested in hockey in 105 degree heat? Hmm…
Of course, we now have McCullough who supported the policies of Ben Bernanke in the past supporting the new friend, Hulsizer, who happens to be in a similar business, and would want to keep the Ice Edge boys in action in Glendale with the team. Who wants it? It doesn’t seem to matter. Swallowing pride (gulp), McCullough tells it this way:
Ice Edge chairman Keith McCullough told the Thunder Bay Chronicle-Journal earlier this week that his group had found a partner to help buy the Coyotes.
“Ice Edge would be a minority owner and an adviser,” McCullough said. “That investor is a friend of ours.”
Our last article pointed out that Hulsizer’s firm, Peak6 Investments as supportive of the Feds quantitative easing policy as if it were a good thing. The flavor is the same. No wonder it doesn’t matter who technically takes the team. There is a picture forming.
And, because everybody and his brother is looking at Mubadala today, let’s not forget they could be involved as they were with CityNorth. They could be the bondholders for the Jobing.com arena. But, will we ever know?
What if a City didn’t really care as much about hockey as it did collecting taxes? What if there were a whole bunch of homes that were vacant, and owed taxes for, and mean a double edged sword – no collection, and no future tax prospects.
Unless the U.S. economy experiences a dramatic turnaround, we are going to continue to see large numbers of Americans get behind on their property taxes, and the big banks will continue to be there to scoop up the tax liens.
Large numbers of poor and elderly Americans that don’t even have a mortgage will lose their homes and it will all be perfectly legal. Executives at the big banks will be having a good laugh about their huge bonus checks as thousands upon thousands of our most vulnerable citizens are dumped out into the street.
And, we must pay close attention to the supporters of policy that support Wall Street. Any players entering the game to bail out the Coyotes must be scrutinized from this important perspective.
Remember, we have a municipality that might just be feeling the pinch from being strapped to a usury bond in Jobing.com arena, on top of a shrinking tax base.
If JP Morgan is involved with tax lien certificates via newly formed entities to stay off the radar, they might have lots of work for investors looking to tap into the lucrative tax/foreclosure game. After all, they are no strangers to checking things of this nature out:
Hyperinflation coupled with a falling dollar will mean greenbacks are not as valuable as the collateral that was taken to secure the debt. No wonder the banks want to foreclose:
The horror show playing out before our eyes in the foreclosure markets, is the continuing collapse of perhaps the greatest financial swindle in the history of mankind: the derivatives markets. The story revolves around the way that derivatives were used to create a giant pool of fictitious capital, nominally based on home mortgages, and the way that the banks are now attempting to seize the homes to turn their funny money into hard assets.
It might make a “tax district” seem like a nice diversion from the real tax-related money of unpaid taxes on properties. As Glendale becomes more desperate for relief, the more accomodating they might become.
….from those who brought us the military industrial complex, we now have……
“The Sports Industrial Complex Racket!”
Show me the money!
Reportedly, Gary Bettman does not want to sell short the value of the Phoenix Coyotes. It’s $165 million if you want to make a deal with the NHL, Mr. Hulsizer – certified cheque or money order please.
And according to the newly thrashed David Shoalts (who really just tells it like it is and apparently is not admired for it):
Matthew Hulsizer’s bid to buy the Phoenix Coyotes from the NHL has stalled because the Chicago businessman wants a big discount on the $165-million (all currency U.S.) the league wants for the team, two sources say. This, the sources add, is despite the fact Hulsizer, 40, has an agreement in principle with the city of Glendale, Ariz., on a multiyear arena lease that could pay him $100-million toward the Coyotes’ annual losses through parking charges, taxes and property levies from a community-facilities district created around Jobing.com arena.
Who in their right mind would buy the Phoenix Coyotes for the realization that on its own it would make money? Hands anyone? Anyone?
Right!
So, how is Hulsizer and the Ice Edge Group going to make it? That is the question. The hints begin with what the “unpopular” Shoalts points out – taxes, charges, and levies – the taxpayers, and business owners are going to subsidize the team. No different really than the current focus in America as a whole.
The Federal Reserve, a private central bank produces money out of thin air, lending it to the U.S. government, and the interest on the escalating debt is paid for by, yes, that’s right, the taxpayers of the United States. In the U.S. about 60% plus of each tax dollar goes to paying interest on the debt – forget everything else. Ellen Brown tells it best:
Our money system is not what we have been led to believe. The creation of money has been “privatized,” or taken over by private money lenders. Thomas Jefferson called them “bold and bankrupt adventurers just pretending to have money.” Except for coins, allof our money is now created as loans advanced by private banking institutions — including the privately-owned Federal Reserve. Banks create the principal but not the interest to service their loans. To find the interest, new loans must continually be taken out, expanding the money supply, inflating prices — and robbing you of the value of your money.
Not only is virtually the entire money supply created privately by banks, but a mere handful of very big banks is responsible for a massive investment scheme known as “derivatives,” which now tallies in at hundreds of trillions of dollars. The banking system has been contrived so that these big banks always get bailed out by the taxpayers from their risky ventures, but the scheme has reached its mathematical limits. There isn’t enough money in the entire global economy to bail out the banks from a massive derivatives default today.
So, with a nation already on the brink of wondering where the next meal will come from, or if they will be able to keep their home/roof over their head, because of the luxury of saying they have a hockey team, the City of Glendale is going to push the taxpayers and businesses further to support higher taxes?
You see, one lesson that was learned during the last round of bank bailouts was that the American people really, really do not like it when the U.S. Congress votes to give money to the big banks. So this time, the financial “powers that be” have figured out a way around that. Instead of going through the massive headache of dealing with the U.S. Congress, the Federal Reserve is simply going to print money and give it directly to the banks. To be more precise, the Federal Reserve is going to use a procedure known as “quantitative easing” to print money out of thin air in order to purchase large quantities of “troubled assets” (such as mortgage-backed securities) from the biggest U.S. banks at well above market price.
In the end, all of the inflation that this new round of quantitative easing is going to cause is going to be a “hidden tax” on all of us.
These new backdoor bailouts are going to work something like this….
1) The big U.S. banks have massive quantities of junk mortgage-backed securities that are worth little to nothing that they desperately want to get rid of.
2) They convince the Federal Reserve (which the big banks are part-owners of) to buy up these “toxic assets” at way above market price.
3) The Federal Reserve creates massive amounts of money out of thin air to buy up all of these troubled assets. The public is told that all of this “quantitative easing” is necessary to stimulate the U.S. economy.
4) The big banks are re-capitalized and have gotten massive amounts of bad mortgage securities off their hands, the Federal Reserve has found a way to pump hundreds of billions (if not trillions) of dollars into the economy, and most of the American people are none the wiser.
Some like to call it “printing money”, as does Peter Schiff in this clip with Max Keiser. This was taken in 2009, and note the flavour of the conversation. Where will the U.S. economy be heading with lowering jobs, lowering wages, and “inflation” by the promotion of more borrowing at the price of “savings”?:
Sniff, sniff…
Couple quantitative easing with the other Obama goal of allowing banks to start the foreclosure racket again, and we can smell the pro Wall Street stance. And, let’s not forget that the foreclosures of homes were the result of the derivative scandal attached to the toxic mortgage debt. In some cases, we had two banks competing to foreclose on the same property that was according to the homeowner paid off years prior. Oh well, who cares – let the foreclosure games begin (again)!
How long can people continue to pay the rent on their own homes?
Really makes one wonder if the push to higher inflation is like taking the plug out of the bathtub in hopes the waters of wealth drain faster. As the economy tanks, and taxes rise, who will have enough money to go to a game anyhow?
With Obama selling his country down the river to Wall Street interests, it is interesting to see who supports the monetary policies and why.
Forget about pulling the plug on grandma….just pull the plug on needlessly tapping the good people of the United States with taxes for a game that will be the least of their worries.
The bottom line is wealth transfer. The rich get richer whether it is the privately owned Federal Reserve and their banker buddies, or the peripheral support of those looking to further the cause. Who pays? – we do. And they are tapping us more and more whether we like it or not.
There is something about quantitative easing and the new breed of real estate scam know as foreclosuregate.
When instututional lenders who bought up to 30 times the value of homes incredit default swaps come a knockin’ to foreclose on property, it is no wonder the foreclosure racket is the new tool to bilk the taxpayer. The bet against the borrower has incentive to fail. The lenders bet against who they lent to. Conflict of interests abound. And Arizona is ripe for the foreclosure picking it would seem. Hmmm….
Your $300,000 home could be worth more foreclosed than not. $300,000 or 30 times that. Where is the incentive to keep you in your home?Sorry, about hockey….
It would lead us to believe the sports industrial complex may be put in place as a substitution for the fact that they might have us all living in State-run housing projects, on state-funded food stamps from J.P. Morgan, and watching state subsidized sports.
But, at least the President of the United States has promised he will be fixing up the roads – even leading to the Coyotes games, with fresh,fully fundedasphalt.
Infrastructure growth in America will increase jobs, wages, and the like. Of course, it will also put more people dependent on the public payroll (not to be confused with being paid for by taxpayers though – get that straight will you?).
Certainly, there is a shape forming.
Can you see it? The State becoming the major employer in the U.S. ?
Well, at least the new Coyotes suitor is honest – the Coyotes staying in Glendale will cost the taxpayers; they have come right out and said it – no bones about it.
Take this picture of a group of guys that might as well be three times as many….the owners of the conglomerate of the Atlanta Thrashers.
