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Everything posted by Lip Man 1
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A person who appears to have good knowledge of the tax situation posted this here at the site. The difference could be around 200,000 million dollars if JR's family sells the team after he has died in tax savings. here is what they wrote: “In paying the estate tax, Michael Reinsdorf will get a step up in basis to the current market value of the franchise, which will be whatever it is valued at on the estate tax return, so that when he sells, the capital gains tax will be $0. If Jerry Reinsdorf sells now, he has to pay capital gains tax, then the estate has to pay tax on the proceeds. Using a two-billion-dollar example: Jerry’s capital gains tax= $2 billion - $19 million = $1.981 billion X 20% capital gains tax = $396.2 million. Jerry’s estate tax on sale= $1.585 billion X 40% estate tax = $634 million. Total tax paid if he sells while still alive= $1 billion dollars (not counting Illinois state tax!) If Michael (Reinsdorf family) sells the team after Jerry has passed again using two-billion-dollars: Jerry’s estate tax on the franchise interest= $2 billion X 40% = $800 million. Michael’s capital gains tax on sale of team= $2 billion - $2 billion = $0 X 20% = $0. Total tax paid if the family sells after death= $800 million dollars (with no state tax paid!) Obviously those numbers are for the full franchise and since he doesn’t own the full franchise, the numbers would probably be less, but the tax savings would be similar.” JR is no fool...he's not selling.
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9/3 GT : Sox v. Twinkies 615CT - Don’t Stop Now Boys!!
Lip Man 1 replied to ChiSox59's topic in Pale Hose Talk
Can't pitch any better then he did tonight, joins Billy Pierce, Stan Bahnsen, Ted Lyons and a few other guys who came within one out of pulling it off. Kid has been nails the entire season. -
9/2 GT: Sox v. Twinkies 710CT - A new leaf turned?
Lip Man 1 replied to ChiSox59's topic in 2022 Season in Review
On paper (notice I said on paper) the G.M. has authority over the field manager. If that isn't the case with the Sox (and it probably isn't) Hahn is even more spineless then I first realized. -
9/2 GT: Sox v. Twinkies 710CT - A new leaf turned?
Lip Man 1 replied to ChiSox59's topic in 2022 Season in Review
10th time this year the Sox trailed in the 7th inning or later and won. As an aside Joe Kelly has been an unmitigated disaster. Thanks again Rick Hahn! ? -
As has been discussed because of the tax hit, he's not selling. Heyman is just picking up the rumors that started on twitter last week from sources that with all due respect, I've never heard of. Sox fans need to hope to outlive JR and see what new ownership brings.
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9/2 GT: Sox v. Twinkies 710CT - A new leaf turned?
Lip Man 1 replied to ChiSox59's topic in 2022 Season in Review
Wonder how many guys he'll walk tonight. -
My guess is that if this situation exists for radio the same parameters probably are in play for TV as well.
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Actually that isn't completely true at least that's what Brooks Boyer told me when I interviewed him in 2008. I haven't heard of any change in this regard: ML: Over the winter there was a lot of discussion about the Sox broadcasting situation, the rehiring of Chris Singleton, the adding of Steve Stone to the mix and recently “Hawk” Harrelson getting a three year extension. I don’t want to get into the specifics of the broadcasters themselves but I’d like to explore the process of broadcast hiring. I know you understand this and I do as well having been in the business for almost 30 years but there may be some readers who don’t know this so I’d like to explain why I’m asking certain questions. In the 50’s, 60’s and 70’s broadcasters were hired by and large, by the radio or television stations they worked for, they were paid by them. There was some distance between themselves and the teams they covered. It was how Harry Caray, for example, could be objective and at times downright critical without fear of being fired. That distinction has been rubberized and completely blurred today. To start this area, I’d like to know how much say do you and the Sox have in broadcast hiring? BB: “We have a significant amount of input. If we don’t want someone or if say WSCR radio doesn’t want someone, either party can veto the choice. It’s a collaborative process, both of us have a large say in the matter. For example, and I’m just using this name, not that he was ever a candidate, if WSCR radio came to us and said we want Mike North in the Sox broadcasting booth, we’d say no. Why would we want someone who is going to knock our product or be very critical of it?” “Regarding the specifics on Chris, it’s no secret that it came down to either him or Tommy John. There was a mutual feeling among us and WSCR that we wanted a fresh voice. Tommy and Ed were both pitchers and both played in the same era. The game had changed a lot since they were playing. We felt it would be better to have Ed’s perspective on the game and Chris’ who played at a different time in a different position and certainly Chris, like Tommy, was a member of the Sox family.” “The process that time started when we put together a list of 10 to 15 names, WCSR radio put together a list of 10 to 15 names and then we interviewed candidates. We’d speak with them, then WSCR radio interviewed them, then we interviewed some candidates together before we made a choice.” “Both Chris and Ed are employees of WSCR radio, not the White Sox.”
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Completely agree. I know he's close with Merkin since both went to Michigan and you'll never read about Scott asking him any tough questions. DVS of the Sun-Times and Sullivan from the Tribune have been pretty forthcoming though with stories and columns not avoiding the issues with this team/organization.
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9/2 GT: Sox v. Twinkies 710CT - A new leaf turned?
Lip Man 1 replied to ChiSox59's topic in 2022 Season in Review
Interested post game comments from Pollock: “It’s been frustrating this year,” Pollock said. “We’ve had times where we had a lot of meetings and it really just comes down to us. It was good to get the guys together. We had some guys speak their mind a little bit. We’re going to get after it and see what happens the last 30-whatever games.” I wonder how many meetings they've had? Only two that I know of were reported by the media. Remember what Ozzie said one time, "Good teams win games...bad teams have meetings..." -
Mark DeRosa who will manage the US WBC team gave his thoughts on the "have fun" message. Personally, based on his comments, he seems to have a good grasp of the Sox situation: https://www.nbcsports.com/chicago/white-sox/mark-derosa-blasts-underachieving-white-sox-have-fun-message
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9/2 GT: Sox v. Twinkies 710CT - A new leaf turned?
Lip Man 1 replied to ChiSox59's topic in 2022 Season in Review
Some of the Chicago writers have told me the same thing, Eloy is a LOT heavier. Wonder if he's turning into Avasail Garcia, a guy who publicly admitted he didn't keep himself in the best of shape when he was with the Sox. -
According to DVS of the Sun-Times Hahn is supposed to speak with the media before the game tomorrow if TLR's test results are back. Should be a hoot!
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9/2 GT: Sox v. Twinkies 710CT - A new leaf turned?
Lip Man 1 replied to ChiSox59's topic in 2022 Season in Review
But don't you dare say he's "INJURY PRONE" to Rick Hahn, he's libel to throw another hissy-fit like he did before! -
I read yesterday I believe it was in the Sun-Times that Hahn hasn't spoken to the media since trade deadline day where he came out and said he felt as bad as Sox fans because they couldn't get anything done. LOL. ?
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They have had player's meetings earlier this year after that disaster in K.C. where they lost three of four games.
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Never underestimate what is going through the mind of JR. If TLR gets a clean bill of health I've no doubt he'll return as manager, later this year and/or next year.
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8/31 GT: Sox vs. Royals - TLR Days Over???
Lip Man 1 replied to ChiSox59's topic in 2022 Season in Review
So this is what a win feels like. More please. -
It's par for the course for this inept, dysfunctional and incompetent organization.
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I'm assuming you are either being sarcastic or are an adolescent trying to get a laugh out of people.
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Given Hahn's arrogance calling out Sox fans saying he felt they wanted the rebuild so fail so they could say 'I told you so', his 10 year record as G.M. and his terrible off-season leading into this year I'm guessing he'd rather have an impacted wisdom tooth than appear before the media.
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They already did appoint someone...his name is Miguel Cairo. Regarding Ozzie, while I appreciate what he did for the franchise and the candor he shows it's hard to overlook things as to how he decided to leave: September 26, 2011 – He was considered the face of the franchise for eight seasons but on this night after a 4-3 win over Toronto, manager Ozzie Guillen announced he was leaving after owner Jerry Reinsdorf agreed to let him out of the final year of his contract. Guillen, who was the 1985 A.L. Rookie of the Year with the White Sox, won the World Series in 2005 and also got the club into the playoffs in 2008. He had five winning seasons in the eight years as manager and was named Manager of the Year for his work in 2005. In that magical season of 2005, “Ozzieball” resulted in the Sox getting off to the best start in their history and with a perfect blend of pitching, speed, power and the ability to execute the fundamentals the Sox were in first place from wire to wire. Then they blitzed through the post season putting together an 11-1 record that was the third best post season record in baseball history. Guillen’s passion and enthusiasm for the franchise was unparalleled but at times he was his own worst enemy. Over his final years in Chicago, he became increasingly thin-skinned and defensive when criticism was directed his way and he lashed out at Sox fans on more than one occasion. Among his famous rants against the fans were one where he said that they could ‘‘Turn off their TVs and stop watching the game if they don’t like the [bleep]ing lineup’’ and another in May 2011 where he claimed Sox fans would not remember him “As soon as you leave the ballpark, they don’t care about you. They don’t. The monuments, the statues…they pee on them when they get drunk.” On the afternoon of the day he left the team Guillen told reporters that he would not want to return to fulfill his 2012 contract unless he got an extension and more money. Ozzie’s relationship with G.M. Kenny Williams also deteriorated over the final few years because the two men appeared to have different viewpoints over how the roster should be constructed and the style to which the Sox should play. The Jim Thome/DH controversy was an example of the different ideas. Guillen’s family didn’t help the situation with social media comments derogatory to Williams. Many felt when Ozzie was hired in November 2003 that he was the right man for the right team at the right time and for a few years he was. Unfortunately, the manager with the longest tenure since Al Lopez let some personal foibles override a good situation and it was best for all that a parting of the ways took place.
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People that I trust were telling me last year, this was the plan... that's the reason Cairo joined the staff. He's next in line from what they've told me. Assuming that happens it would be yet another time when the Sox didn't even bother to have a comprehensive search process and try to bring in "outsiders" who can look at the issues with fresh eyes.
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Still no Robert in the lineup and no updates. Typical.
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Well this secretiveness is par for the course, remember the Robert lightheadedness confusion to say nothing of his current wrist situation, plus all the times playing shorthanded? This doesn't appear to be the most competent medical, training and conditioning staffs. Personally I hope the guy is OK but if this doesn't convince JR that he made a mistake nothing will.
