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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beast (9h) : I believe it's technically against the CBA rules, but Jerry just calls it a simple unofficial chat... and somehow gets away with it.
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Mucky Tundra (16h) : Oo just saw a blurb saying that Dallas negotiated directly with Parsons and not through his agent
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Zero2Cool (17h) : McLaurin nor Micah going anywhere. They will get money
Mucky Tundra (17h) : the Synder years or do they take care of one of their own?
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Mucky Tundra (18h) : Turns 30 this September, plays at a high level and Washington has some cap space I believe
Mucky Tundra (18h) : More interesting is Washington with Terry McLaurin
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Mucky Tundra (30-Jul) : Zero, regarding Ewers, you are correct.
Zero2Cool (30-Jul) : Sadly, this might be our life for awhile. I could put it on another host, but seems it was slower, although more stable
beast (30-Jul) : How long will it be down?
beast (30-Jul) : RIP site 😭
Zero2Cool (30-Jul) : Site will die, I have to restart it.
Zero2Cool (30-Jul) : Quinn stinks. Lot of underthrows. (my guess)
beast (30-Jul) : How did Quinn Ewers effect where Golden was drafted?
dfosterf (30-Jul) : All I've experienced was late at night or early morning. I just figured you were doing something in the background
Zero2Cool (30-Jul) : Site sure seems to be down more than up
dfosterf (29-Jul) : 50 cent hookers? I'm moving to Green Bay. I thought it was just real estate that was more affordable there. 😂
Zero2Cool (29-Jul) : Sure seems site going down more than 50¢ hooker
Mucky Tundra (27-Jul) : Golden with two TDs in red zone drills today
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Zero2Cool (27-Jul) : The menu you expanded to log in, it's the first icon under "PackersHome" .. maybe i should add text to it
dfosterf (27-Jul) : Feelin' pfowish can't find the sun. No big deal, will drag a laptop out when the time comes
Zero2Cool (27-Jul) : if you're on mobile, open the menu and its the "sun" icon
dfosterf (27-Jul) : Can't find the toggle, lol
dfosterf (27-Jul) : I can find that the Microsoft lady rep for Titletown Tech is the philanthropy boss for the entire Microsoft corporation, but. .
Zero2Cool (27-Jul) : There's a toggle for light/dark theme. Super easy.
dfosterf (27-Jul) : The white background beta was hard to read, especially the quotes
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dfosterf (27-Jul) : *Friday*
dfosterf (27-Jul) : 100 million would be 539 million as of Fridsy
dfosterf (27-Jul) : Heck, they could have taken a hundred milliion and invested in DAVE inc. last year (semi random, humor, but real)
dfosterf (27-Jul) : Beer brat and ticket is where the money comes from
dfosterf (27-Jul) : The 40th is Titletown Tech itself. This is a pet project of both Ed Policy and Mark Murphy
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