wpr
  • wpr
  • Preferred Member Topic Starter
3 years ago

No one is being deceived as to what Packer stock is, so why do people refer to it as a scam? People don’t seem to know what a “scam” is. Take this article, which also doesn’t know what “stock” is , and refers to purchasers as “suckers.” These are pretty common  whenever the Green Bay Packers  decide to raise funds through a stock sale, as everyone leaps to point out that you can’t sell your share for profit, and it’s not normal stock, and it’s a ripoff:



Except, as all of these articles are also quick to point out, none of this is a secret, or news, or a scam in the slightest. The Packers explicity tell you exactly what you get and what you don’t get, and you don’t get “nothing at all,” as the article is completely wrong about that as well.
You see, when someone is trying to scam you, they generally don’t announce that fact in big, bold letters on the web page where the scam is allegedly taking place. Scams attempt to take money from people through some sort of subterfuge, and there is no subterfuge here. The actual qualities of Packer stock are reported on ad nauseum by people both hostile  and friendly  to it. No one is taken advantage of, and everything is on the up-and-up.
Reporters also like to belittle what you get in return, and it’s worth noting that with ownership, you get quite a bit more than a “worthless piece of paper.” You do get that actual stock certificate, of course, which is a nice piece of art or memorabilia in its own right, and you do get the right to what is ultimately a fairly meaningless vote, but you also get an invite to the shareholders meeting. It is an interesting event which, when we aren’t in a pandemic, takes place in person inside of Lambeau Field. It may not be for everyone, but getting to attend a special even inside of Lambeau is certainly worth something. Finally, you do have special access to the shareholder merchandise portion  of the pro shop, which contains merchandise that the normal fans can’t buy.
Some may argue that all of this could be accomplished through a “fan club” or something like that, but I suspect that is not the case. Ownership conveys additional meaning to your relationship with a business, and there is a level of participation built into this program that you simply cannot fake. The ideal of having your Packer stock framed above the fireplace is talked about wistfully among Packer fans everywhere, and a simple fan club would lack the cache.
The articles quoted and linked to above are generally annoying, but in they’re also objectively evil. The NFL hates the ownership structure of the Green Bay Packers, which requires the team to disclose financial reporting that the league would prefer to keep secret. (Also, fan clubs do not come with mandatory financial disclosure requirements, and this has some value to shareholders as well.) The league has a vested interest in portraying these sales as wastes of money from folksy Northwoods rubes, because the last thing they want is for such a model to gain popularity among the masses. Darren Rovell calls Packer stock “the biggest racket in sports":


Thousands of Packers fans will pay $300 a share to become “shareholders” today. The fine print: The Packers reserve the right to potentially buy back your shares at a cost of TWO AND A HALF CENTS Inside the biggest racket in sports https://t.co/zSyE5xNKEa — Darren Rovell (@darrenrovell) November 16, 2021 
This is despite the fact that other franchises routinely seek and receive taxpayer financing for similar investments. (And yes, the Packers have gone to this well before too, but a stock sale is obviously better!) To portray this as a racket when compared to the routine blackmail of states and municipalities for taxpayer dollars is asinine. I’m quite sure the citizens of Oakland would have enjoyed the opportunity to take the Raiders from Mark Davis and set up a decentralized corporate structure with limits to inidividual stock ownership, no dividends, and limited voting rights. The entirety of the rest of the NFL is a racket, with the Packers as the lone exceptions.
The fact of the matter is that the Packer model should be the envy of fans everywhere. It keeps the team local, it reduces the tax burden inherent in having a major sports franchise present, and it brings transparency to a business that prefers to be steeped in secrecy.

A quick thread on stock, property, and ownership. The way that you think of stock, as a tradable security, is only one, narrow way to set up a company. While the profit motive may be what drives American capitalism, it's actually not a requirement...— BadgerNoonan (@BadgerNoonan) November 16, 2021 
Don’t let any writer talk down to you about your stock purchase.

It is 100% real stock, and more sophisticated finance people, including those within the NFL itself, understand this, hate this, and fear this. Packer ownership comes with perks and physical goods worth more than this,

And it supports the unique structure of America’s greatest sports franchise. It is decentralized, and forever tied to the community in which it was founded specifically because it is not “normal” common stock. If your desire for the Packers is to have them in Green Bay, and never to have a traditional Jerry Jones-style owner, you should buy some stock. If you are looking for a growth investment, why not check out NFTs? Those totally aren’t a huge scam.
Continue Reading @ PaulNoonan 

PaulNoonan wrote:



I passed on the last two chances to buy stock. But to give them to my grandkids, why not?
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Zero2Cool
3 years ago
It is a scam. They took my $300 and another $35 for some "handling" fee and it is still "awaiting acceptance". What a scam.
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wpr
  • wpr
  • Preferred Member Topic Starter
3 years ago
Funny how people (Florio) who screamed at the Wilfs for blackmailing the fans are now mocking the Packer fans.
The bares are probably pulling out of Chicago and heading for the Burbs.



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UserPostedImage
wpr
  • wpr
  • Preferred Member Topic Starter
3 years ago
OMG! FLORIO BOUGHT A SHARE TOO!!! 

Football fans are self-admitted suckers. I’m one of them. But for that bizarre threat of a fine of up to $500,000 for criticizing the NFL or anyone connected to it, my $335 would be among the money the Packers made yesterday. It still may happen, bizarre threat of a half-million-dollar fine for daring to criticize anything about the NFL be damned.



I am laughing at him.
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Fan Shout
Zero2Cool (1h) : Damn
Martha Careful (3h) : Saints are re-signing DE Chase Young to a three-year, $51 million deal worth up to $57 million.
Martha Careful (4h) : 49ers releasing FB Juszcyk any interest?
Zero2Cool (4h) : digits of four
Zero2Cool (4h) : four digits
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Zero2Cool (5h) : on new site, would Fan Shout and GameDay Chat show same messages?
Mucky Tundra (5h) : The Hall of Fame stuff probably came from a scout as Zero said; at this point though it's hard to see them moving ZT from RT
Mucky Tundra (5h) : Regarding ZT at C, Gute had said he felt C was ZTs best position after he was drafted.
Zero2Cool (6h) : LB Oren Burks to sign a 2-year, $5M deal with the Bengals.
Zero2Cool (6h) : Based on how it was worded at the time, probably scout.
beast (6h) : I don't think the media person ever told the public the source, but Gute or LaFleur did say they thought Tom has earned his spot at OT
beast (6h) : I think it was supposedly unnamed Packers source
buckeyepackfan (7h) : Was that Gute or Lefleur or someone else?
buckeyepackfan (7h) : Zach Tom could be a really good guard, an all pro tackle, but probably be a HOF Center. Who said that?
Zero2Cool (7h) : It's March 10th. I don't think anything is done.
Martha Careful (7h) : if we think CB is done, we have a poor roster
Mucky Tundra (7h) : CB and OG in FA, narrows down the top of the draft board a little
Martha Careful (8h) : Meh....I hope we can get Ward 49ers or Murphy Vikings
Zero2Cool (8h) : Yes
Martha Careful (8h) : did Nate Hobbs just sign with us CB Raiders?
Zero2Cool (8h) : Jets have agreed to terms with former Ravens CB Brandon Stephens
Zero2Cool (8h) : Aaron Banks’ PFF grade was 0.1 worse than Elgton Jenkins last year.
Zero2Cool (8h) : Muwahaha
Zero2Cool (8h) : Oh awesome! Nostrawrongus says 4th so SUPER BOWL ON TRACK!!
dhazer (9h) : to be honest the freee agent market isnt that great this year so I can handle a 500 yr or sub 500 is fine, i see us as 4th in division
dhazer (9h) : Hi Dave long time no see
Mucky Tundra (9h) : Slaton to the Begals=Guaranteed Big Boy in the first 3 rounds
Mucky Tundra (9h) : WE SIGNED SOMEONE!!!!!!1!
Zero2Cool (9h) : Former #Packers DT TJ Slaton headed to the #Bengals on a 2-year $15.1M deal.
Zero2Cool (9h) : 4-year $77M for Packers new guard Aaron Banks
Zero2Cool (9h) : OL Patrick Mekari to sign with the Jaguars.
Zero2Cool (9h) : oops
Zero2Cool (9h) : Josh Sweat to Cardinals
Martha Careful (9h) : Josh Sweat to the Arizona Cardinals.
Mucky Tundra (9h) : Surprises the Seahawks signed Darnold for that money
buckeyepackfan (10h) : Depends on what Kupp is igned for.
Martha Careful (10h) : The Bears are adding to their defensive line. Chicago is signing former Colts pass-rusher Dayo Odeyingbo to a three-year, $48 million deal
Zero2Cool (10h) : Free agent DT Poona Ford to the #Rams on a 3-year, $30M
dfosterf (10h) : Imo cooper kupp is pretty much stupid money spending
Zero2Cool (10h) : Dayo Odeyingbo to the Bears
Zero2Cool (10h) : oops
Zero2Cool (10h) : CB Darius Slay to sign with the Steelers
buckeyepackfan (10h) : Justin Fields to The Jets!
Martha Careful (10h) : Justin Field to the Jets
buckeyepackfan (10h) : Cooper Kupp! After all the stupid money is spent.
Zero2Cool (10h) : Colts are signing Vikings S Cam Bynum
buckeyepackfan (10h) : "Stupid Money" week underway. Let's see if Gute can pluck another gem this year. #8 & #29 last year, who can it be this year? My money is on
Martha Careful (10h) : Former Eagles cornerback Darius Slay is signing with the Steelers, per Jordan Schultz.
Martha Careful (10h) : Sam Darnold is off to the Seattle Seahawks. It’s a three-year, $110.5 m 55m guaranteed.
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