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?
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.
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.




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.
Fan Shout
Zero2Cool (3h) : Jalen Ramsey wants to be traded. He's never happy is he?
Zero2Cool (3h) : two 1sts in 2022 and two 2nd's in 2023 and 2024
Zero2Cool (3h) : Packers had fortunate last three drafts.
dfosterf (15h) : I may have to move
dfosterf (15h) : My wife just told the ancient Japanese sushi dude not enough rice under his fish
Zero2Cool (22h) : I think a dozen is what I need
dfosterf (23h) : Go fund me for this purpose just might work. A dozen nurses show up at 1265 to provide mental health assistance.
dfosterf (14-Apr) : Maybe send a crew of Angels to the Packers draft room on draft day.
Zero2Cool (14-Apr) : I am the Angel that gets visited.
dfosterf (14-Apr) : Visiting Angels has a pretty good reputation
Zero2Cool (14-Apr) : what
Martha Careful (14-Apr) : WINNING IT, not someone else losing it. The best victory though was re-uniting with his wife
Martha Careful (14-Apr) : The manner in which he won it was just amazing and wonderful. First blowing the lead then getting back, then blowing it. But ultimately
Zero2Cool (12-Apr) : I'm guessing since the thumb was broken, he wasn't feeling it.
dfosterf (10-Apr) : Looking for guidance. Not feeling the thumb.
Mucky Tundra (10-Apr) : If they knew about it or not
Mucky Tundra (10-Apr) : I don't recall that he did which is why I asked.
Zero2Cool (10-Apr) : Guessing they probably knew. Did he have cast or something on?
Mucky Tundra (10-Apr) : Did they know that at the time or was that something the realized afterwards?
Zero2Cool (9-Apr) : Van Ness played most of season with broken thumb
wpr (9-Apr) : yay
Zero2Cool (9-Apr) : Mark Murphy says Steelers likely to protect Packers game. Meaning, no Ireland
Zero2Cool (8-Apr) : Struggling to figure out what text editor options are needed and which are 'nice to have'
Mucky Tundra (8-Apr) : *CHOMP CHOMP CHOMP*
Zero2Cool (2-Apr) : WR who said he'd break Xavier Worthy 40 time...and ran slower than you
Mucky Tundra (2-Apr) : Who?
Zero2Cool (2-Apr) : Texas’ WR Isaiah Bond is scheduled to visit the Bills, Browns, Chiefs, Falcons, Packers and Titans starting next week.
Zero2Cool (2-Apr) : Spotting ball isn't changing, only measuring distance is, Which wasn't the issue.
Zero2Cool (2-Apr) : The spotting of the ball IS the issue. Not the chain gang.
Mucky Tundra (2-Apr) : Will there be a tracker on the ball or something?
Zero2Cool (1-Apr) : uh oh
Martha Careful (1-Apr) : Too bad camera's can't spot the ball as well.
Mucky Tundra (1-Apr) : So will the chain gang be gone completely or will they still be around as a backup or whatever?
Zero2Cool (1-Apr) : The method for measuring first downs in the NFL will switch from chain gangs to camera-based technology in 2025, the league announced.
Martha Careful (1-Apr) : A big step in the right direction. Just put in the college system is very very good.
Zero2Cool (1-Apr) : NFL has passed a rule that allows both teams to possess the ball in OT during the regular season
Zero2Cool (1-Apr) : Touchbacks on kickoffs will now bring the ball to the 35-yard line.
beast (31-Mar) : It might of gotten more popular recently, but braiding hair (even men) in certain cultures goes back for centuries.
Martha Careful (30-Mar) : Is men braiding their hair a new style thing? Watching the NCAA men's tournament many players have done
Zero2Cool (29-Mar) : Ha. Well, it'd be nice for folks to reset their own password. Via validated email 😏
beast (29-Mar) : Monopoly was supposed to be an educational game, that show how evil capitalism was and how we should avoid it
beast (29-Mar) : Lol, I was thinking username would be better, as then I wouldn't have to keep an email up to date lol 😂
beast (29-Mar) : Zero2Cool (25-Mar) : I was thinking email because I think it'll make folks keep it up todate lol
wpr (29-Mar) : sure is
Zero2Cool (29-Mar) : Monopoly is a rip off of The Landlord's Game
wpr (27-Mar) : 28 days until the draft
earthquake (27-Mar) : Which seemed strange to my 9 year old self, that you could be a fan for a team other than the one you play for
earthquake (27-Mar) : Nothing eventful happened, other than it being clear that he was a bengals fan
earthquake (27-Mar) : And we went and hung out with him one afternoon, I must have been 9 or so
earthquake (27-Mar) : That’s wild, when I was a kid my friend lived in the same apartment complex in De Pere
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