I feel like myself and anyone else that’s still reading or posting in this thread is losing with the number of ridiculous personal attacks (from both sides).
Stadium Vote:
- Thread starter PSUFTG
- Start date
Marshall's whole spiel (not just regarding this topic) is insults and personal attacks. Regardless, what makes it OK to consistently attack the BoT (at least the portion that doesn't agree with a certain viewpoint) ... any of whom could be posters here ... but then not treat those who attack the BoT with the same tone? It's a silly double standard.
Dude claims to be a fiduciary for the university but votes against a $50M deal in favor of a deal that has so far pledged $0. Really impressive
My assertion is that Anthony Lubrano and Ted Brown are claiming they can raise hundreds of millions of dollars and haven’t done it.
Barry Fenchak is riding these same coattails.
Not a single one of them has actually done the work to raise that money. They’re just making up numbers to keep their name in the headlines and gaslighting poor Sue in the process.
It’s cruel to Sue. Either these guys need to do right by her or be replaced by someone who will actually try.
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This entire article is false ... and EXTREMELY disconcerting.
Penn State does NOT have goodwill on its balance sheet. It will NEVER have goodwill on its balance sheet. The reason is, goodwill can never exist for Penn State, because goodwill only results from a sale/disposition of an entity, in which the net proceeds exceed its balance sheet valuation.
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BASIC ACCOUNTING LESSON:
For those who aren't familiar with accounting concepts, or business org sales/acquisitions, think of goodwill this way. You establish Company X .. by definition, you will never have "goodwill" until that company's ownership changes hands. A Balance Sheet has 3 main buckets ... Assets, Liabilities and Equity. Your Assets must always equal your Liabilities + your Equity (or, thought of another way, Assets - Liabilities = Equity). But let's say your Balance Sheet shows Company X is "worth" $5. That is, your Assets are $5 greater than your Liabilities. That's your Equity. For illustration's sake, let's say your Assets are $10, your Liabilities are $5, so $10-5=$5, so your Equity is $5.
Company Y wants to buy it, and they decide to give you $6. From an accounting perspective, that don't make no stinkin' sense. The balance sheet is now not balanced, and that can't be ... Assets $10 - Liabilities $5 = Equity $6. We can bring @LionJim in here to verify, but I'm pretty sure you can see that math ain't mathin'. So, what they came up with is an "intangible asset" of "Goodwill" - the excess of your preexisting Balance Sheet valuation over the disposition price. Here, Goodwill would be an Asset of $1. Now Assets = $11, Liabilities still = $5 and Equity = $6, and all is good in the world.
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The key takeaway there is that Goodwill isn't something that exists, and just isn't recognized until a sale ... it literally DOES NOT EXIST until/if a sale is above the "net worth" on the balance sheet.
Barry's entire article is based on the premise that we should be basing our decisions re the university on things that literally don't, and cannot, exist.
Barry, you are a liar and a charlatan. You should have your accreditations/licenses re financial advisement suspended, if not outright revoked.
This is beyond effed. This is legitimate "malpractice."
I feel bad for Sue and the family. After all those years of being so loyal to PSU, this attack on Joe has to be tough to stomach. The pain of not having his name on that field must feel overwhelming
I ask again...if everyone is so willing to give $ to this cause, then why not push to have Beaver Stadium renamed as Paterno Stadium. Charge 1k/ticket to sell out that 110k seats as someone else assured is realistic, and you've got $110 million right there (say $105 million, as you'll incur $5 million in expenses putting it together).
And then, if Barry and others have another $100 million ready to go from alumni looking to give, then we're up over $200 million.
That kind of money flows, and we're well on the way to the stadium being renamed.
One thing I’ve noticed about Barry and his like minded folks who make posts like this, they are just huge drama queens. This is so melodramatic and over the top.
Thanks for enforcing my pointResponding togy is like putting your own middler up your bunger.
WOW.....using big boy words now....so mature how you use your advanced vocabulary.....did I hurt your tiny ego? I am so sorry I hope you get over your insecurity crisis.
Responding to
You've responded to me on many occasions. So you obviously speak from A LOT of experience. Have you learned to clean your middler after, at least?
If responding to me is like putting your own middler up your bunger, then what is talking bad about me, but not being man enough to talk TO me like? Stop trying to be a Mean Girl, and try to be a man.