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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dfosterf (18-Aug) : We do have good depth at running back imo. Still so frustrating. Bitching about it is a futile excercise, which I plan to do anyway.
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Mucky Tundra (17-Aug) : Not a surprise; inevitable
Zero2Cool (17-Aug) : Brewers streak ends at 14
Zero2Cool (17-Aug) : SURPRISE
Mucky Tundra (17-Aug) : @mattschneidman Matt LaFleur on MarShawn Lloyd: “He’s gonna miss some time.”
Mucky Tundra (16-Aug) : CLIFFORD WITH THE TD WITH UNDER 2 TO GO!!!!!
Zero2Cool (16-Aug) : 90 MINUTES UNTIL FAKE KICKOFF!!
Martha Careful (16-Aug) : I think Ruven is a bot, but regardless should be stricken from the site.
Zero2Cool (14-Aug) : Packers RB Josh Jacobs ranked No. 33 in NFL 'Top 100'
dfosterf (13-Aug) : The LVN Musgrave collision- Andy Herman said Musgrave seemed to be the one most impacted injury-wise
dfosterf (13-Aug) : a lower back injury
dfosterf (13-Aug) : Doubs says he's "fine" after injury scare. Some reported it as z
Mucky Tundra (13-Aug) : With LVN that is; need to see what happens in the next practice
Mucky Tundra (13-Aug) : beast, reading about what happened, it sounded like one of those "two guys collide and are moving slow afterwards" type of deals
beast (12-Aug) : I believe Musgrave has been injured every single season since at least a Sophomore in highschool
packerfanoutwest (12-Aug) : Matt LaFleur: “Highly unlikely” Jordan Love plays more this preseason
dfosterf (12-Aug) : Doubs, Savion Williams, LVN, Musgrave all banged up to one degree or another, missing one here I forget
Zero2Cool (12-Aug) : RB Tyrion Davis-Price is signing with the Green Bay Packers.
Zero2Cool (12-Aug) : zero help, dominated. preseason
beast (12-Aug) : QB Jordan Love has surgery
beast (12-Aug) : Martha said Morgan had a lot of help, I didn't watch the OL so I can't say.
Zero2Cool (10-Aug) : Packers LT Jordan Morgan did not allow a single pressure across 23 pass-blocking snaps vs. Jets last night, per PFF
Mucky Tundra (10-Aug) : With buckeye and the reasonable couple, we're currently sitting at 10
buckeyepackfan (10-Aug) : Just posted to re-up on our FFL.
Zero2Cool (10-Aug) : If healthy after, then thats all I care. Well, no drops would be nice
wpr (10-Aug) : I made it through the 1st Q.
dfosterf (10-Aug) : Just gotta figure out how.
dfosterf (10-Aug) : Could have been a worse start, so there is that.
beast (10-Aug) : Yeah, someone tell the Packers football season has started, seems like they weren't ready for it
Mucky Tundra (10-Aug) : Sooooooo many penalties
Mucky Tundra (10-Aug) : It may only be preseason, but this game is a trip to the dentist
Zero2Cool (10-Aug) : Packers do bad -- FREAK OUT!!!!!!
Zero2Cool (10-Aug) : Packers do good -- eh only preseason
dfosterf (10-Aug) : Well that half was fun
Zero2Cool (10-Aug) : Great, zayne is down
Zero2Cool (9-Aug) : 13 minutes away from kickkkkkkkkkkkkkkkkoffff
Zero2Cool (9-Aug) : Had Celebration of Life for my uncle up north. wicked rain hope it dont come south
Mucky Tundra (9-Aug) : THE GREEN BAY PACKERS ARE PLAYING FOOTBALL TONIGHT!!!!!! THIS IS NOT A DRILL!!!!
Zero2Cool (9-Aug) : Woo-hoo
TheKanataThrilla (9-Aug) : NFL Network is broadcasting the game tonight, but not in Canada. Not sure why as no local television is showing the game.
beast (8-Aug) : But the Return from IR designations had to be applied by the 53 man cutdown.
beast (8-Aug) : It's a new rule, so it's not clear, but my understanding was that they could be IR'd at any time
Mucky Tundra (8-Aug) : *had to be IRed at 53
Mucky Tundra (8-Aug) : beast, I thought the designate return from IR players had to be IR at cutdowns to 53, not before
beast (8-Aug) : It's a brand new rule, either last season or this season, prior, all pre-season IRs were done for the season
beast (8-Aug) : But the Packers would have to use one for their return from IR spots on him, when they cut down to 53.
beast (8-Aug) : I think the NFL recently changed the IR rules, so maybe the season might not be over for OL Glover.
Zero2Cool (8-Aug) : Packers star Howton, first NFLPA prez, dies at 95 😔
dfosterf (8-Aug) : Apparently it is too complicated for several to follow your simple instructions, but I digress
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