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  #31  
Old 02-03-18, 02:40 PM
lc5397 lc5397 is offline
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This is a completely absurd statement.

Quote:
Originally Posted by fleadog101 View Post
The NFL has its own cash flow problem right now as they have lost so much money this season from the protest of players and lack of viewership.

If they get a good Supper Bowl rating they might break even
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  #32  
Old 02-03-18, 03:00 PM
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The Butler The Butler is offline
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Originally Posted by lc5397 View Post
This is a completely absurd statement.
Never stopped him before.
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  #33  
Old 02-03-18, 03:28 PM
GregG GregG is offline
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Originally Posted by fleadog101 View Post
The NFL has its own cash flow problem right now as they have lost so much money this season from the protest of players and lack of viewership.

If they get a good Supper Bowl rating they might break even
I don’t watch the NFL on the regular basis as before these “protests” supporting cop killing organizations began popping up.

You couldn’t be more wrong, Verizon just signed for 2 billion for 4 years of rights on mobile. Cash flow problem? Lol
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  #34  
Old 02-03-18, 04:10 PM
Ts1960 Ts1960 is offline
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Originally Posted by mboyj03 View Post
37 of the top 50 broadcasts in 2017 were NFL games.

Fox just paid $600 million to broadcast just the Thursday night games.

Tell me again how the NFL is having a cash flow problem.
Actually fox paid 600 million per year for 5 years so that’s 3 billion. Times sure are tough for the NFL.
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  #35  
Old 02-03-18, 04:26 PM
Bluestreakoffice Bluestreakoffice is offline
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Quote:
Originally Posted by The Butler View Post
Never stopped him before.
Your subtle use of humor is duly noted!..lol
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  #36  
Old 02-03-18, 06:14 PM
clarkgriswold clarkgriswold is offline
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I got off at the exit by the Hall of Fame today and there was a large man in a gold HOF jacket panhandling with a sign that said "NFL Short on Money, Will Take anything You can Give." Looked a little like Art Shell.
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  #37  
Old 02-03-18, 08:48 PM
jackson03 jackson03 is offline
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Originally Posted by serpico View Post
2) Any lender that gives someone money without making sure it goes where it is supposed to (in this case, the Hoover plant), is begging to get taken.
We know it never reached Maple Street's bank account -- so in theory CMB should have seen that. Depends on exactly how the funds changed hands. They did, however, begin inquiring about progress and financials as little as a year and a half into the project. Lichter has exact progress on the Hoover plan under court seal. That's absolutely amazing to me given that there are tenants in there that should be able to see it with their own eyes and it isn't a private residence, to say nothing of the public grants that have been received.
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  #38  
Old 02-05-18, 05:17 PM
jackson03 jackson03 is offline
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Update on the Hoover plant:

http://www.cantonrep.com/news/201802...tes-city-codes

Developer cited for plywood over windows, leaking roof, fire hazards, etc. Nothing too interesting, as it's obvious from driving by it it looks more and more like a dump, aside from this quote:

Quote:
“The city was demonstrating it’s willingness to work with the developers, giving them a reasonable amount of time to affect the necessary changes that we were asking for, and we just kind of reached a point where we didn’t feel (those changes) were being responded to in a timely fashion,” said Director of Administration Patrick DeOrio.
Not surprised that yet again he promised to do something and then didn't do it. He is so cheap that instead of installing a permanent window he spray painted a piece of plywood to match the color of the brick exterior. Ohio's biggest slumlord.
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  #39  
Old 02-05-18, 08:29 PM
Paladin1aa Paladin1aa is offline
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Just another "honest" businessman trying to make a living. Ain't capitalism great !!
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  #40  
Old 02-05-18, 11:29 PM
firewatch firewatch is offline
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Quote:
Originally Posted by jackson03 View Post
Update on the Hoover plant:

http://www.cantonrep.com/news/201802...tes-city-codes

Developer cited for plywood over windows, leaking roof, fire hazards, etc. Nothing too interesting, as it's obvious from driving by it it looks more and more like a dump, aside from this quote:



Not surprised that yet again he promised to do something and then didn't do it. He is so cheap that instead of installing a permanent window he spray painted a piece of plywood to match the color of the brick exterior. Ohio's biggest slumlord.
And on the inside you still have lead paint, asbestos and now a bad case of black mold growing all through the old tunnels under it.
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  #41  
Old 02-06-18, 04:18 AM
chs1971 chs1971 is online now
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Originally Posted by Paladin1aa View Post
Just another "honest" businessman trying to make a living. Ain't capitalism great !!
At least with capitalism there is no taxpayer money involved.
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  #42  
Old 02-08-18, 08:32 PM
Mackinbiner Mackinbiner is offline
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Financing update.

http://www.cantonrep.com/news/201802...f-fame-village
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  #43  
Old 02-09-18, 12:57 AM
jackson03 jackson03 is offline
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Quote:
Originally Posted by Mackinbiner View Post
THE PORT AUTHORITY SHOULD NOT SIGN FOR THIS BRIDGE LOAN. I cannot stress this enough. He's essentially leveraging the entire stadium for just 10% of the total cost to build the Village. Please, look up what happened with Elio Motors. This guy never does a deal that isn't tied into a pretzel to make sure he never loses a cent. They will sign, of course, since a county sales tax would be unpalatable (but don't be surprised if that's the next suggestion).

I love the part about the new finance company conveniently being located in the same office building as IRG. Ms. Matas did her homework! Is this the same type of deal where the CEO of Sears loans Sears money through his personal holding company and essentially has no way to lose whether Sears succeeds or fails? Allegedly, of course.
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  #44  
Old 02-09-18, 07:28 AM
TriangleMan TriangleMan is offline
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I'll guess Great American Capital Partners is run by Lyle Lanley.
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  #45  
Old 02-09-18, 10:37 AM
Bluestreakoffice Bluestreakoffice is offline
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Quote:
Originally Posted by jackson03 View Post
THE PORT AUTHORITY SHOULD NOT SIGN FOR THIS BRIDGE LOAN. I cannot stress this enough. He's essentially leveraging the entire stadium for just 10% of the total cost to build the Village. Please, look up what happened with Elio Motors. This guy never does a deal that isn't tied into a pretzel to make sure he never loses a cent. They will sign, of course, since a county sales tax would be unpalatable (but don't be surprised if that's the next suggestion).

I love the part about the new finance company conveniently being located in the same office building as IRG. Ms. Matas did her homework! Is this the same type of deal where the CEO of Sears loans Sears money through his personal holding company and essentially has no way to lose whether Sears succeeds or fails? Allegedly, of course.

http://www.thetruthaboutcars.com/201...k-bright-side/


Primary investor doubles down

Elio pointed to another section of the annual report that stated Stu Lichter — the company’s primary backer, real estate broker, and holder of the lease on the Shreveport factory — “advanced” Elio Motors over $6,250,000 since the start of 2016.

Additionally, Lichter recently purchased $200,000 worth of Elio Motors common stock at $5.98 a share.

None of that reduces the $376 million Elio Motors needs to raise if it has any chance of starting production by the end of 2017, a date pushed back so many times that many of Elio’s 64,000 or so reservation holders simply don’t believe it anymore — or any of Paul Elio’s other promises.
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  #46  
Old 02-09-18, 10:43 AM
Bluestreakoffice Bluestreakoffice is offline
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Quote:
Originally Posted by Bluestreakoffice View Post
http://www.thetruthaboutcars.com/201...k-bright-side/


Primary investor doubles down

Elio pointed to another section of the annual report that stated Stu Lichter — the company’s primary backer, real estate broker, and holder of the lease on the Shreveport factory — “advanced” Elio Motors over $6,250,000 since the start of 2016.

Additionally, Lichter recently purchased $200,000 worth of Elio Motors common stock at $5.98 a share.

None of that reduces the $376 million Elio Motors needs to raise if it has any chance of starting production by the end of 2017, a date pushed back so many times that many of Elio’s 64,000 or so reservation holders simply don’t believe it anymore — or any of Paul Elio’s other promises.
https://gas2.org/2013/08/16/financia...-gonna-happen/

Elio Motors’ next payment of three-million USD to Racer Trust – the “old GM” the property liquidation agent selling the old Shreveport GM plant to Elio – is due September 4th. According to reports coming out of the Caddo Parish in Louisiana, it looks like Elio is asking the residents of Caddo to “front the money”. It’s also worth noting that Elio appears to be “on the hook” for the initial $750,000 deposit, already, which seems to be acting as a kind of “hold” on the building.

The company has submitted a number of documents to the Caddo Commission that are related to the proposed manufacture of the “Elio” trike, and these included a full breakdown of the company’s financials … and they are hilarious! Or, at least, they would be hilarious if 1.) you knew anything at all about the car business, and 2) you weren’t one of the people pinning their hopes, dreams, and hard-earned cash on Elio’s success.
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  #47  
Old 02-09-18, 10:59 AM
Egret Egret is offline
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The silence is deafening. From both the NFL and the tools that chastised Massillon people that predicted nothing short of this.
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  #48  
Old 02-09-18, 11:03 AM
Ts1960 Ts1960 is offline
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Quote:
Originally Posted by Egret View Post
The silence is deafening. From both the NFL and the tools that chastised Massillon people that predicted nothing short of this.
Come on Egret we all know this is fake news from Massillon people who are just jealous. The funds are there and in the billions, they are not only going to build a sky lift leading to downtown they are now going to build 3 more 5 star hotels along with an amusement park. I’ve heard ground is breaking next week to add a 70,000 seat dome to entice an NFL team to move to Canton. LMAO
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  #49  
Old 02-09-18, 01:25 PM
my2sense my2sense is offline
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Originally Posted by Egret View Post
The silence is deafening. From both the NFL and the tools that chastised Massillon people that predicted nothing short of this.
Egret - I'm disappointed in this crap out of you. I don't expect anything substantive from these local-yokel mouth breathers whose biggest transactions are deciding whether to super-size their meal. But you know that if this project succeeds it benefits the whole region.

It is undeniable that the majority of Massillon posters have been negative and critical of the project since Day 1 and are giddy at the notion it will fail. Their doom and gloom predictions were based on their anti-Canton (and other) biases, not on one ounce of any financial specs insight or business knowledge.

Now that some actual facts have emerged (and not third hand reports from someone's uncle's cousin's neighbor who was in the union) - some smart people with a better plan and serious money will get it fixed.

Put me down firmly in the camp of those hoping it will be fixed and moved forward to the benefit of many in our community. And when that occurs you and the other backward naysayers don't ever have to come visit.
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  #50  
Old 02-09-18, 02:19 PM
EastYoungstown EastYoungstown is offline
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slow offseason huh?
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  #51  
Old 02-09-18, 02:20 PM
Journey Journey is offline
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Yes East Youngstown, very.
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  #52  
Old 02-09-18, 03:27 PM
sam the butcher sam the butcher is offline
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Quote:
Originally Posted by my2sense View Post
Egret - I'm disappointed in this crap out of you. I don't expect anything substantive from these local-yokel mouth breathers whose biggest transactions are deciding whether to super-size their meal. But you know that if this project succeeds it benefits the whole region.

It is undeniable that the majority of Massillon posters have been negative and critical of the project since Day 1 and are giddy at the notion it will fail. Their doom and gloom predictions were based on their anti-Canton (and other) biases, not on one ounce of any financial specs insight or business knowledge.

Now that some actual facts have emerged (and not third hand reports from someone's uncle's cousin's neighbor who was in the union) - some smart people with a better plan and serious money will get it fixed.

Put me down firmly in the camp of those hoping it will be fixed and moved forward to the benefit of many in our community. And when that occurs you and the other backward naysayers don't ever have to come visit.

Those "naysayers" were backing their posts up with actual facts, something you have NEVER done on here regardless of the subject. When the "naysayers" were posting facts you disappeared.
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  #53  
Old 02-09-18, 03:43 PM
clarkgriswold clarkgriswold is offline
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When did factually supported skepticism become unfair criticism?

I'd love to see the project succeed as it would be great for the area, but the people at the center of it were flim-flam artists that sucked a lot of people in. Hopefully it can be resurrected but the fact that it could be doesn't undo the fact that too many people prematurely jumped in with both feet.
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  #54  
Old 02-09-18, 05:00 PM
Ohio Proud 64 Ohio Proud 64 is offline
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Quote:
Originally Posted by jackson03 View Post
As far as I'm aware, he has to pay a reduced amount on the Hoover District loan (by his own admission, by getting yet another loan) and the mechanics liens at the HOF. I haven't seen anything about the other debts owed.

The NFL will never bail out the HOF project. Why do that when they could just start a new LLC and "relocate" to California or the Northeast? You know full well they don't give a flying .... about Canton or Stark County. Neither does the players union because they don't even want to play the HOF game.
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  #55  
Old 02-09-18, 08:35 PM
jackson03 jackson03 is offline
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Quote:
Originally Posted by my2sense View Post
Now that some actual facts have emerged (and not third hand reports from someone's uncle's cousin's neighbor who was in the union) - some smart people with a better plan and serious money will get it fixed.
A bridge loan is never sought out because you're in a good financial position. Let's say Great American Capital Partners is a totally above board, legitimate operation. Lichter would therefore be asking to mortgage the entire Village to resume construction. On top of that, the repayment terms on a bridge loan can be anywhere from 6 months to 3 years -- that makes for some pretty hefty payments on a $100 million loan. But we already know $100 million doesn't even get us close to the total cost to complete the Village. So the hope would be, I suppose, that the Village's credit situation improves and that additional financing is available.

Now let's run through the other possibility that was alluded to in the Repository article. Say GACP is not really independent from Lichter/IRG. The Stark County Port Authority operates as the Village's pass-through organization for taxation purposes. If GACP is really Lichter/IRG, he could, in theory, be loaning himself money and transferring the liability for repayment to the Port Authority if anything (more) goes wrong. I am not an expert and this is all speculative -- but it does fit with his past practices. If I'm way off base, hopefully someone here with a business background can tell me so, so I can get a better understanding of the ramifications of what is being requested of the Port Authority.

Lichter also needs to pay off a settlement on a $36 million loan on the Hoover plant within 45 days or so. It is absolutely a fair question to ask if he's trying to mortgage Benson Stadium to prevent losing the Hoover plant to foreclosure. That would be hugely unfair to the city of Canton.

We can do nothing but speculate because he fights tooth and nail to prevent any financial details from being released. That's extremely odd when you've been the recipient of $25 million in taxpayer money for just the Village alone. I concede that it's absolutely a smoke/fire situation. But the fact that David Held can't see them, Judge Lioi can't release them, the Port Authority is in the dark, the public is in the dark... "trust me" doesn't cut it with so much credibility lost already.

Quote:
Originally Posted by clarkgriswold View Post
I'd love to see the project succeed as it would be great for the area, but the people at the center of it were flim-flam artists that sucked a lot of people in. Hopefully it can be resurrected but the fact that it could be doesn't undo the fact that too many people prematurely jumped in with both feet.
Is the best way to resurrect these projects to cut off his flow of cash? CMB (his creditor that is suing him) has expressed interest in finishing the Hoover Project themselves if they foreclose. They might not, but I don't trust this guy to EVER finish the Hoover renovation after owning the building now for over ten years.
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  #56  
Old 02-09-18, 09:54 PM
Mr.wrsln2 Mr.wrsln2 is offline
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Nov 12,1892 western pa.per HOF.
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  #57  
Old 02-10-18, 09:51 AM
my2sense my2sense is offline
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Quote:
Originally Posted by clarkgriswold View Post
When did factually supported skepticism become unfair criticism?
It's not and I never said it was. In fact I was the one who asked for something factual when all we were getting was unsubstantiated commentary from people who wished it would fail.

I'm referring to the consistent negativity from some starting from the time the project was announced who hoped it would fail from the beginning. Anyone can go back and see the trail of unsupported skepticism from it would never be built to the stadium will never be finished for the 2017 season to the state finals would fail etc etc.

Whatever the motive for their schadenfreude, its obvious that some hoped then an still hope they can find something negative and find a perverse sense of pleasure in it.

Again, more often than not projects of this magnitude rarely go from start to finish without some obstacles that need overcome and corrected. Lets hope that's the case here for all the people of the region it will benefit.
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  #58  
Old 02-10-18, 10:53 AM
y2h y2h is offline
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Quote:
Originally Posted by jackson03 View Post
Lichter also needs to pay off a settlement on a $36 million loan on the Hoover plant within 45 days or so. It is absolutely a fair question to ask if he's trying to mortgage Benson Stadium to prevent losing the Hoover plant to foreclosure. That would be hugely unfair to the city of Canton.
Just as it was hugely unfair to NC to take the funds to the HOF.
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  #59  
Old 02-10-18, 12:12 PM
Bluestreakoffice Bluestreakoffice is offline
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https://ohioline.osu.edu/factsheet/CDFS-1567


How does a local government regulate the powers of a port authority? The local government forming the port authority is responsible for oversight. The powers and duties of each port authority are spelled out in the local government's ordinance or resolution forming the port authority. The local government does not have to delegate all of the powers allowed, but certain powers are authorized under 4582 of the Ohio Revised Code, including:

Acquire real and personal property
Own, lease, sell, and construct improvements to real property
Issue revenue bonds for port authority facilities
Issue voted general obligation bonds for port authority facilities and other permanent improvements
Levy voted taxes for all purposes of the port authority
Receive federal and state grants and loans and other public funds
Operate transportation, recreation, governmental, or cultural facilities, and set rates and charges for use of port authority facilities
Cooperate broadly with other governmental agencies and exercise powers delegated by such agencies

Is this a back door to get past the County Commissioners?
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  #60  
Old 02-10-18, 01:05 PM
Striker300 Striker300 is offline
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Quote:
Originally Posted by Bluestreakoffice View Post
https://ohioline.osu.edu/factsheet/CDFS-1567


How does a local government regulate the powers of a port authority? The local government forming the port authority is responsible for oversight. The powers and duties of each port authority are spelled out in the local government's ordinance or resolution forming the port authority. The local government does not have to delegate all of the powers allowed, but certain powers are authorized under 4582 of the Ohio Revised Code, including:

Acquire real and personal property
Own, lease, sell, and construct improvements to real property
Issue revenue bonds for port authority facilities
Issue voted general obligation bonds for port authority facilities and other permanent improvements
Levy voted taxes for all purposes of the port authority
Receive federal and state grants and loans and other public funds
Operate transportation, recreation, governmental, or cultural facilities, and set rates and charges for use of port authority facilities
Cooperate broadly with other governmental agencies and exercise powers delegated by such agencies

Is this a back door to get past the County Commissioners?

Of course it is. Thing is, these delegated powers were already authorized under 4582 of the ORC before the existence of said port authority. Couldn't see this one coming or turned a blind eye toward it, either way this could be spotted for miles way beforehand.
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