Steff

QUOTE(aboz56 @ Nov 12, 2005 -> 06:37 PM) From the Tribune: The cheap ass Score wouldn't come close to that figure and I bet they weren't even within 150K of that. In fact I'm pretty sure of it. You KNOW they weren't.

Comprehension 101 Even when it proves you wrong...

Funny stuff.

QUOTE(SoxFan101 @ Nov 12, 2005 -> 01:57 AM) If he does go back to jail do you think the time he served for the wrong crime will count for the new sentence he gets.... for example it says he served what 18 years... so if he had a 20 year sentence would he only have to serve 2 of them? Since they are two different crimes, I don't think so. Killa would probably be able to tell us for fact.

QUOTE(southsider2k5 @ Nov 11, 2005 -> 05:52 PM) Baseball tickets... Speaking of... I might need to call in a favor soon..

QUOTE(aboz56 @ Nov 11, 2005 -> 07:58 PM) She's not losing this one, that's for damn sure. Not so much win or lose. I posted the '03 year ending financials to prove Jerry wasn't raping the fans and making bundles of money so I'm familiar with the way they work and from what I can see.. I just don't see where the Sox are paying for anything related to the renovations because mainly they don't have the funds to do so. They've been at the break even point since 2000 (loss in '01) and put back the last 4 years of profit into the teams payroll. It just doesn't make any sense...

QUOTE(whitesoxin' @ Nov 11, 2005 -> 05:42 PM) Steff- Were you in debate in HS? No, I wasn't. Did you have anything to add to the conversation or did you just want to toss some s*** around to see if it would stick...?

QUOTE(JUGGERNAUT @ Nov 11, 2005 -> 06:57 PM) This is also gives both the ISFA & CWS room to renegotiate as the CWS are worth much more now than they were in 2003. The CWS might be willing to pay more rent in exchange for re-couping the maintenance fees. The ISFA might be willing to re-instate that expense in exchange for getting a bigger pc of post-season action. Maintenance fees recouped...? You do realize that those fees pay for things like the cost of heating, air conditioning, water, and electricity...?

QUOTE(JUGGERNAUT @ Nov 11, 2005 -> 06:51 PM) I have all the details now thanks to Crain's: http://www.chicagobusiness.com/cgi-bin/mag...003-04-05&rel=1 Under the agreement, ISFA will service the debt on the bonds with money saved on annual maintenance fees it formerly paid the White Sox. So here's how it adds up: The $1.24M the Sox are paying thru 2007 is paying for the first first phases of the renovations. Those renovations were paid for thru a different bond issuance. Marc Ganis of SportsCorp Ltd., a Chicago consulting firm: "There's no question (ISFA) is a major reason the team is viable. They're also the reason the team isn't in St. Petersburg. That's why (ISFA) exists." The White Sox extended it's stadium lease from 2011 thru 2026 as part of the financing agreement. The 2004 ISFA report states it's 2029. Bringing this up to date to 2005: It looks like the Bond proceeds came to $42.5M. It looks like the park maintenance fee came to $3.7M in 2004. It looks like the CWS was responsible for park maintenance all this time. The cost for the latest renovations will probably be in the 2005 report. This expenditure will likely be removed from that report. That fee was worth $2.7M in 2002 so it's probably worth over $4M in 2005. That appears to be how the CWS are paying for the cost of renovations. The ISFA would then recoup the bond cost in 2015-2016. They will have doubled their savings prior to the least expiring in 2029. OK.. big misunderstand here. 1. The bonds are insurance. They are in place to pay for things IF the Sox and US Cellular part ways or if the Sox go bankrupt for some reason. In essence, it's an insurance policy that means that if something goes wrong, the tazpayers don't have to foot the bill anymore. It's clear in the article you posted. 2. I still have no idea what (or why) you are calling that 1.24million both maintainence and licensing revenue.. and I don't see where the Sox are paying it. 3. The Sox have always been responsible for park maintainence.. in 2003 it was 2.7 million. That's quoted in the article you posted. For maintainence... not anything to do with renovations. Furthermore.. that was money paid BACK to the Sox. 4. I still can't see where the Sox are paying for this.. and if they are why didn't they just do it themselves and not sell the naming rights? And why did they, and the state lie to the tax payers telling us specifically that the funds from that sale is paying for the renovations...? 5. And finally... where are you getting the '04 and '05 numbers you are quoting.

QUOTE(JUGGERNAUT @ Nov 11, 2005 -> 05:39 PM) It's a good question & I don't have the answer. US Cellular doesn't show up any where in the ledgers. Nor does this money show up as revenue coming from the White Sox. There is this: In 2003, the Authority and the Team agreed that the Team could license to United StatesCellular Corporation the naming rights for the New Comiskey Park. In turn, the Authority and the Team reached agreement on certain changes and modifications including the extension of the term of the Management Agreement from 2010 until 2029, a plan and project list for construction, and the method for financing the improvements via a bond issuance and a corresponding maintenance subsidy reduction to cover the debt service. The way I'm reading this is that the licensing revenue is going to the White Sox & the $1.24M the Sox now owe each year has been extended through 2029. That total comes to $34.72M. That's very close to the asset value they are listing for stadium improvements to date. The ledger entries referring to the bond issuance support this. But for 2005 I believe that the corresponding maintenance subsidy is going to show the bulk of the added expenses. Ok.. so what does licensing revenue have to do with the money paid for the park improvements...? And what does 2005 have to do with anything on these financials.. they are YE June '04 with no projections for the fiscal year '04 to June '05... I've read the bond agreements directly from LaSalle and they don't appear to have anything to do with the $$ from US Cellular - and everything to do with covering the additional years on the extended lease, but if they did.. why for reduction to cover the debt..? There was no debt previous as there were no structural improvements made until after the US Celluar $$ was awarded..?

Wait, wait, wait... Do you mean the Sox paid for it because the Sox requested the funds from the ISA, they cut the check.. gave it to the Sox.. then the Sox passed it along to the contractors...?? Because if that's what you mean.. then I would guess you're right if that's the proceedure though I would imagine the contractor would deal with the ISA directly. Is that what you mean when you say "the Sox are paying for it"..?

QUOTE(JUGGERNAUT @ Nov 11, 2005 -> 05:16 PM) Page 4 The Authority managed $60M in rennovations (financed in large part with funds made available from the renaming of the facility). Right.. the Authority did it with the funds from US Cellular.. so.. how did that become the Sox paying for them..?

QUOTE(JUGGERNAUT @ Nov 11, 2005 -> 05:12 PM) Steff, I'm not sure how they are doing the accounting of it but they do have the total value of the improvements listed in the long-term assets: $35,865,159. I'll open the pdf & see if I can find where it adds up. That's just the improvements line.. that's not the total asset. Page 14 of the PDF.

QUOTE(JUGGERNAUT @ Nov 11, 2005 -> 05:09 PM) I don't know what your referring to put there are at least two references to renovations in the report. 1 is a charge of $1.24M from 2001 to 2007. The other is up front in the Message from the Chairman. It doesn't even mention the White Sox. It mentions 83 new jobs & the project being completed within budget. It's common knowledge the White Sox are paying for the renovations from the money being paid by US Cellular for naming rights. Your right.. it doesn't mention the White Sox.. so why are you saying the Sox are paying for it...?? QUOTE(JUGGERNAUT @ Nov 11, 2005 -> 04:31 PM) But I do want to point out something that maybe most people don't know. The ISFA is handling the renovations. The White Sox are paying the costs Second sentence of the Chairman's letter... In 2004 the Authority accomplished yet another phase of the significant renovations at US Cellular field... Where is it common knowledge that the Sox are paying for renovations to a park they don't own...??? The money is being accounted for on the ISA's financials... so if that's wrong... someone better do some investigating..

Juggs.. I'm not sure what exactly you are looking at.. but on page 17 the transfers out to the Comiskey Park Improvement fund were over $6 million $'s.. and their reserve was another $2+ million... Where are you seeing the Sox paying for improvements..?? And that $24 million for maintenance... $20 million was just for 2003. The years are at the top. This report is for fiscal year June 03 to June 04. And the assets... They are listed at $339,872,302 *... while the liabilities are at $528,439,678 *... with the equity balacing things out. * assest - page 14 * liabilities - page 15 Can you explain where you are getting your figures from..?

QUOTE(JUGGERNAUT @ Nov 11, 2005 -> 04:50 PM) They are listing a charge of $3.8M a yr for maintenance. A total of over $24M to date. That financial info is YE June 2004...???

Ugh.. tooooo looooong.. When it was over I was relieved rather than amused. A for effort though Jim.

QUOTE(NorthSideSox72 @ Nov 11, 2005 -> 04:34 PM) I said nothing of cancer - I don't know they guy. I didn't say YOU did.

QUOTE(JUGGERNAUT @ Nov 11, 2005 -> 04:31 PM) But I do want to point out something that maybe most people don't know. The ISFA is handling the renovations. The White Sox are paying the costs. That site completely contradicts that statement, as well did the Sox when explaining the usage of the $$ from the naming rights. Page 4 - Message from the Chairman, and the Bond details support what both the ISA and the Sox have said in regards to the funds.

s***.. I need to cut up my credit cards.

QUOTE(Dick Allen @ Nov 11, 2005 -> 04:11 PM) If selfish and lazy gets you 45 homers and 140 rbi, I'd take it anyday. Manny is not the cancer people think he is. KW may not want him, but it is only because of the amount he would have to pay for him and to him. Believe me, the entire American League is praying he gets shipped to the NL. He is nowhere near the cancer people make him out to be. He owns as many WS rings as anyone on the White Sox roster. I think it's funny how he's thought to be a cancer but his teammates love him and the Boston fans seem to bow down to him.. weird.

Nerds.

QUOTE(Dick Allen @ Nov 11, 2005 -> 04:00 PM) IIRC Rooney had a shot at the Cardinals job a couple of years ago, but declined to pursue it because of his loyalty to the White Sox and he had a couple of years left on his contract. I don't know him at all, but if this really was his dream job, contratulations to him, the declining to pursue the job a couple of years ago would show what kind of character and class he really has. Oh.. he wanted it then.. someone wouldn't let him out of his contract.. :rolly

Juggs.. Jerry Reinsdorf owns the lots. It's been documented here many times.

QUOTE(qwerty @ Nov 11, 2005 -> 03:52 PM) Were either involved in this case? If i just don't understand it... he must have been willing to not get away from an 87 year old man. Dunno. Not many details released yet.