1. Football Picks Survivor is done for 2014. Congrats to billlaimbeer from The Pistons Forum

Wiggles Confirmed - Gores is New Owner of Pistons

Discussion in 'Pistons and NBA' started by armygirl, Feb 11, 2011.

  1. Ernie the Slow Adult

    Ernie the Slow Adult All-Star Forum Donor

    Joined:
    Feb 10, 2006
    Messages:
    6,695
    Likes Received:
    1,657
    Gender:
    Male
    Location:
    Parts Unknown
    Re: Confirmed...Gores is New Owner of Pistons

    This is why I love this guy as the (hopefully) Pistons owner. I can just picture the headlines like Gores to Sheed - You've got to play in the post more.

    Pistons extend exclusive talks with Tom Gores; his rep confirms no deal is in place | detnews.com | The Detroit News
     
  2. Nemo

    Nemo Fantasy-Football Snub Forum Donor

    Joined:
    Dec 1, 2006
    Messages:
    12,306
    Likes Received:
    1,504
    Gender:
    Male
    Location:
    Lake Elmo
    Re: Confirmed...Gores is New Owner of Pistons

    A lengthy read about Tom Gores.

    Tom Gores goes for slam dunk with Pistons deal | Detroit Free Press | freep.com

    Seems like the hands on type of manager that I like. He'll be someone who learns to understand all facets of basketball ownership. Unfortunately, the hands on approach also included his older brother's wife. I hope that episode happened long ago...and is just a memory.
     
  3. Ernie the Slow Adult

    Ernie the Slow Adult All-Star Forum Donor

    Joined:
    Feb 10, 2006
    Messages:
    6,695
    Likes Received:
    1,657
    Gender:
    Male
    Location:
    Parts Unknown
    Re: Confirmed...Gores is New Owner of Pistons

    I read that also, yikes! He tried to buy Mirimax Studios.

    I can't tell you how much I enjoy waking up and being greeted by his press photo each morning.
     
  4. pass99

    pass99 All-Star Forum Donor

    Joined:
    Aug 6, 2006
    Messages:
    2,756
    Likes Received:
    440
    Re: Confirmed...Gores is New Owner of Pistons

    It may not your traditional understanding of hands-on. It most certainly will be a quasi type of personalized ego satisfaction a la Cuban, but the background learning might be one of his most unique aspects in this weak ownership league.

    Nope. This will not be a requirement for his success. Doesn't need it.

    This does not enter into it, unless of course you are a wide-eye Jesuit. This guy gets hit left and right. Normally the closest relationships are your most venerable association.
     
  5. roscoe36

    roscoe36 All-Star Administrator

    Joined:
    Jul 5, 2005
    Messages:
    20,952
    Likes Received:
    2,780
    Gender:
    Male
    Location:
    Dagobah
    Re: Confirmed...Gores is New Owner of Pistons

    This article is real interesting

    San Diego Reader | Who is the Union-Tribune's new owner?

    I didn't do much research into him, but he sounds like a real sleaze. Anyone who would betray their brother and wife like that, why should we believe he will have any character as an owner?
     
  6. pass99

    pass99 All-Star Forum Donor

    Joined:
    Aug 6, 2006
    Messages:
    2,756
    Likes Received:
    440
    Re: Confirmed...Gores is New Owner of Pistons

    No research and sounds? Be careful of wishful sounds and subjective mole-hills.

    Yep...I wanted to put this one in italics. This is good stuff from the old testament.
     
  7. TaS

    TaS All-Star Forum Donor

    Joined:
    Sep 1, 2005
    Messages:
    17,846
    Likes Received:
    3,259
    Gender:
    Male
    Location:
    Chicaaago
    Re: Unconfirmed...Gores is New Owner of Pistons

    I tried to read that article, but my eyes glazed over about half way through (at the 100,000 word mark). I couldn't tell who was who and what was what. Did Gores shoot somebody?

    Maybe I'll give it another go now that I'm more awake.
     
  8. dba

    dba All-Star Moderator 1x Fantasy Champion Forum Donor

    Joined:
    Jan 24, 2006
    Messages:
    4,262
    Likes Received:
    446
    Location:
    Ann Arbor/Chicago/Walland, TN
    Re: Unconfirmed...Gores is New Owner of Pistons

    He's a guy who has made a boatload of money by buying companies, stripping out the equity, saddling what's left with debt and then moving on. Think of him as Gordon Gecko with either slightly better or slightly worse hair, depending on your taste.
     
  9. TheeTFD

    TheeTFD All-Star

    Joined:
    Sep 1, 2005
    Messages:
    10,051
    Likes Received:
    672
    Gender:
    Male
    Location:
    Los Lunas, NM
    Re: Unconfirmed...Gores is New Owner of Pistons

    Yeah we'll have a winner in 2 years and a new owner in 3. I like it.
    Asumming the owners group don't piss themselves at the sight of this guy.
     
  10. Nemo

    Nemo Fantasy-Football Snub Forum Donor

    Joined:
    Dec 1, 2006
    Messages:
    12,306
    Likes Received:
    1,504
    Gender:
    Male
    Location:
    Lake Elmo
    Re: Unconfirmed...Gores is New Owner of Pistons

    Maybe he'll take Rodney Stuckey to work with him at Platnium Equities...

    I thought our Debt to players like Gordon, Rip, and CV was as bad as it could get...
     
  11. TheeTFD

    TheeTFD All-Star

    Joined:
    Sep 1, 2005
    Messages:
    10,051
    Likes Received:
    672
    Gender:
    Male
    Location:
    Los Lunas, NM
    Re: Unconfirmed...Gores is New Owner of Pistons

    ----------
    This article is about Tom Joubran, Tom "Gor-is"'s nephew. There's so many brothers in the story you get confused.
    ---------
    Note the bar "Mikatam" could clear $30000.00 nightly. Before the beer profits !!!
    ---------
    Immigrants to this country are often given low interest loans.
    ---------
    Pellicano got 15 years for using illegal wiretaps to help one of them.
    Though he was paid ~$240K by catching the wife infidel it could've saved "them" millions in settlement.
     
  12. roscoe36

    roscoe36 All-Star Administrator

    Joined:
    Jul 5, 2005
    Messages:
    20,952
    Likes Received:
    2,780
    Gender:
    Male
    Location:
    Dagobah
    Re: Unconfirmed...Gores is New Owner of Pistons

    Don't go making him out to be a hero.
     
  13. roscoe36

    roscoe36 All-Star Administrator

    Joined:
    Jul 5, 2005
    Messages:
    20,952
    Likes Received:
    2,780
    Gender:
    Male
    Location:
    Dagobah
    Re: Confirmed...Gores is New Owner of Pistons

    Y'all know I am an old testament kind of guy. Code of Hammurabi and all that jazz.
     
  14. TaS

    TaS All-Star Forum Donor

    Joined:
    Sep 1, 2005
    Messages:
    17,846
    Likes Received:
    3,259
    Gender:
    Male
    Location:
    Chicaaago
    Re: Unconfirmed...Gores is New Owner of Pistons

    Usually, you have to pay much more than the existing equity in a company in the first place. Stripping it out and loading the remainder up with debt just kills the value of the company and makes it unsellable. It may make sense from a scamming standpoint to buy a company with no equity and then rip off venders and creditors... but you'll form a reputation pretty quickly and won't get much cooperation on you other acquisitions.

    I need to know more about his scamming ways to form a negative opinion. I'm open to it, but just don't have any good data. All I know about the guy is that he built an empire from a very modest start and he tries to look cool. He is either smarter, more aggressive, luckier, or dirtier than most (any other ways to make money?).

    Platinum Equity - Wikipedia, the free encyclopedia

    They seem less like corporate raiders and more like value added owners where they take greater financial risk than normal and then make sure that it is successful by actively managing or supporting it.

    It almost seems like the perfect owner from a fan's standpoint. He'll personally invest money, time, and energy to make it successful. He's used to professional managers who are held accountable for their results. And he didn't luck into his money like Cuban, so he'll act like he's been there before and will do it with a little more classy tilt.
     
  15. max

    max All-Star

    Joined:
    Aug 15, 2005
    Messages:
    7,482
    Likes Received:
    495
    Gender:
    Male
    Location:
    my bunker in the Carribbean
    Re: Unconfirmed...Gores is New Owner of Pistons

    Good point. Plus guys like him have to spend their money on something. Seems like this is more entertainment than anything else for him - hopefully.
     
  16. TaS

    TaS All-Star Forum Donor

    Joined:
    Sep 1, 2005
    Messages:
    17,846
    Likes Received:
    3,259
    Gender:
    Male
    Location:
    Chicaaago
    Re: Unconfirmed...Gores is New Owner of Pistons

    With returns exceeding 40% and one of the most active acquisition streaks for a PE firm over the past several years, it seems as though he has better uses for his money from a return standpoint.

    So, let's hope that this is either a pure ego play or a pure entertainment play for him. Either way, here's hoping that he's a competitive guy who will demand results from everyone in the organization... and hoping he'll treat us to the lux tax for the next decade.
     
  17. roscoe36

    roscoe36 All-Star Administrator

    Joined:
    Jul 5, 2005
    Messages:
    20,952
    Likes Received:
    2,780
    Gender:
    Male
    Location:
    Dagobah
    Re: Unconfirmed...Gores is New Owner of Pistons

    The luxury tax thing is something that irks me. The way to make money is to make consumers happy. Bill D penny pinching was really annoying, because he seemed to always be burning the candle at both ends.
     
  18. dba

    dba All-Star Moderator 1x Fantasy Champion Forum Donor

    Joined:
    Jan 24, 2006
    Messages:
    4,262
    Likes Received:
    446
    Location:
    Ann Arbor/Chicago/Walland, TN
    Re: Unconfirmed...Gores is New Owner of Pistons

    :pound: :pound: :pound:
     
  19. G-man

    G-man Starter

    Joined:
    Aug 15, 2005
    Messages:
    1,423
    Likes Received:
    26
    Location:
    g & g gas station
    Re: Unconfirmed...Gores is New Owner of Pistons

    upside is likely that he bought a little high. lets see how long before he sells off the entertainment arm to get some claw back...
     
  20. TaS

    TaS All-Star Forum Donor

    Joined:
    Sep 1, 2005
    Messages:
    17,846
    Likes Received:
    3,259
    Gender:
    Male
    Location:
    Chicaaago
    Re: Unconfirmed...Gores is New Owner of Pistons

    The Lakers are spending $92M on salaries this year.

    We are the middle of the pack with $66M.

    The Sacremento Kings are at the bottom with $44M.


    So, even for the money we are spending, we are under performing.


    Top Five spending teams:

    1. Lakers
    2. Magic
    3. Mavs
    4. Celtics
    5. Magic
    Bottom five spending teams:

    1. Kings
    2. Wolves
    3. Cavs
    4. Clippers
    5. Bulls (!)

    There are some surprising teams out there, which are performing much better or much worse than their cash outlay, but these top 5 spending teams would whip the bottom 5 for sure.
     

Share This Page