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Thread: Jimmy Dolan living on borrowed time

  1. #1
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    Published on February 28, 2005

    The men and women who will decide whether New York will host the 2012 Olympics have left town. By all accounts, they are impressed with the city's plans. However, they made it clear that the city must approve the proposed far West Side stadium--to be used for the games and for the New York Jets football team--if it is to win the bid.

    This imperative leaves no room for politicians who claim that they want the Olympics; they just don't want a stadium in Manhattan. Their position, which has always been the easy way out, is no longer tenable. Those who oppose the stadium also seek to ruin the Olympics bid.

    Now is a good time for one more look at the primary opponent of the stadium, Cablevision. The company has spent millions of dollars on advertising--most of it untrue--and hiring a long list of politically connected lobbyists to try to make sure that its own sports facility, Madison Square Garden, does not face additional competition. No one should forget that Cablevision has said that it will drop its opposition to the new stadium if the city eliminates the planned retractable roof. This ploy is hardly a principled stand on what's best for New York.

    In a new twist, it is becoming clear that Cablevision is living on borrowed time. The architect of the anti-stadium effort, Chief Executive James Dolan, and his father, Charles, have clashed over the company's future. Analysts believe that the father has demanded that Cablevision be sold. The younger Dolan is thought to want to keep control of the Garden, but it seems unlikely that he can do so. The Garden and its sports teams, the Knicks and the Rangers, have been owned for decades by a series of large corporations, whose deep pockets are needed to enable the teams to compete.

    Shareholders would want the company to maximize its value, a fair request that would shoot down any sweetheart deal with the Dolans.

    So here's how this story could play out: The stadium will be blocked. New York will lose the Olympics. Cablevision, Madison Square Garden and its sports teams will be sold to someone who would have supported the stadium plan. The new owner will withdraw Cablevision's plan to develop the stadium site itself.

    The alternative is so much better. Disregard Cablevision and approve the stadium. Build a home for the Jets that will pay for itself. Boost the much-needed development of the West Side. Win the Olympics.

    New Yorkers must choose between these two scenarios.

  2. #2
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    Where is this article from? Link?

  3. #3
    http://www.mercurynews.com/mld/mercurynews...11017829.htm?1c
    Cablevision shuts down Voom service

    SETH SUTEL

    Associated Press


    NEW YORK - Cablevision Systems Corp., a New York-area cable television provider, is shutting down its high-definition satellite television service called Voom after failing to reach an agreement with its own chairman, who wanted to buy the remaining assets of the business.

    The announcement from the Bethpage, N.Y.-based company late Monday puts an end to a fractious battle among members of the Dolan family, which runs Cablevision. Charles Dolan, the company's chairman and founder, had championed the service, while his son James, who is CEO, opposed it.

    Last week Cablevision said it would take $354.9 million in charges as it exited the satellite television business. Investors had long been skeptical of the plan, which would have put Cablevision in a high-stakes showdown against two entrenched and well-funded competitors, EchoStar Communications Corp., owner of the DISH satellite TV service, and The DirecTV Group Inc.

    In December Cablevision said it would sell Voom's satellite to EchoStar for $200 million in cash, and then in February Charles Dolan and his son Tom entered a tentative agreement to acquire the rest of Voom's assets. However, they failed to consummate a deal by a Feb. 28 deadline.

    Voom failed to find an audience with consumers since being launched in the fall of 2003. Voom posted an operating loss of $661.4 million on revenues of $14.9 million for all of 2004, including the $354.9 million in write-downs.

    In its most recent quarterly regulatory filing, Cablevision disclosed last fall that the Voom service had only 26,000 customers. In its statement late Monday, Cablevision said it would continue providing service to its current Voom customers for at least 30 days. Cablevision representatives did not immediately return phone calls seeking additional comment.

    Cablevision also owns New York's Madison Square Garden as well as the sports teams that play there, including the New York Knicks and the NHL's Rangers. Cablevision is in the midst of a public showdown with New York Mayor Michael Bloomberg over Bloomberg's plans to build a stadium on Manhattan's West side, which would compete with the Garden.

    In early trading Tuesday, Cablevision shares fell $1.04, or 3.3 percent, to $30.02

  4. #4
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    Originally posted by 2009fatman@Mar 1 2005, 10:10 AM
    Published on February 28, 2005

    The men and women who will decide whether New York will host the 2012 Olympics have left town. By all accounts, they are impressed with the city's plans. However, they made it clear that the city must approve the proposed far West Side stadium--to be used for the games and for the New York Jets football team--if it is to win the bid.

    This imperative leaves no room for politicians who claim that they want the Olympics; they just don't want a stadium in Manhattan. Their position, which has always been the easy way out, is no longer tenable. Those who oppose the stadium also seek to ruin the Olympics bid.

    Now is a good time for one more look at the primary opponent of the stadium, Cablevision. The company has spent millions of dollars on advertising--most of it untrue--and hiring a long list of politically connected lobbyists to try to make sure that its own sports facility, Madison Square Garden, does not face additional competition. No one should forget that Cablevision has said that it will drop its opposition to the new stadium if the city eliminates the planned retractable roof. This ploy is hardly a principled stand on what's best for New York.

    In a new twist, it is becoming clear that Cablevision is living on borrowed time. The architect of the anti-stadium effort, Chief Executive James Dolan, and his father, Charles, have clashed over the company's future. Analysts believe that the father has demanded that Cablevision be sold. The younger Dolan is thought to want to keep control of the Garden, but it seems unlikely that he can do so. The Garden and its sports teams, the Knicks and the Rangers, have been owned for decades by a series of large corporations, whose deep pockets are needed to enable the teams to compete.

    Shareholders would want the company to maximize its value, a fair request that would shoot down any sweetheart deal with the Dolans.

    So here's how this story could play out: The stadium will be blocked. New York will lose the Olympics. Cablevision, Madison Square Garden and its sports teams will be sold to someone who would have supported the stadium plan. The new owner will withdraw Cablevision's plan to develop the stadium site itself.

    The alternative is so much better. Disregard Cablevision and approve the stadium. Build a home for the Jets that will pay for itself. Boost the much-needed development of the West Side. Win the Olympics.

    New Yorkers must choose between these two scenarios.
    how is this for a crazy concept, Woody Johnson pays for the goddamn thing by himself? nahh, why do that when we can make life easy and force the city and state to pay $600 million of it?

  5. #5
    Originally posted by Jetfan16+Mar 1 2005, 11:40 AM--></div><table border='0' align='center' width='95%' cellpadding='3' cellspacing='1'><tr><td>QUOTE (Jetfan16 @ Mar 1 2005, 11:40 AM)</td></tr><tr><td id='QUOTE'> <!--QuoteBegin-2009fatman@Mar 1 2005, 10:10 AM
    Published on February 28, 2005

    The men and women who will decide whether New York will host the 2012 Olympics have left town. By all accounts, they are impressed with the city&#39;s plans. However, they made it clear that the city must approve the proposed far West Side stadium--to be used for the games and for the New York Jets football team--if it is to win the bid.

    This imperative leaves no room for politicians who claim that they want the Olympics; they just don&#39;t want a stadium in Manhattan. Their position, which has always been the easy way out, is no longer tenable. Those who oppose the stadium also seek to ruin the Olympics bid.

    Now is a good time for one more look at the primary opponent of the stadium, Cablevision. The company has spent millions of dollars on advertising--most of it untrue--and hiring a long list of politically connected lobbyists to try to make sure that its own sports facility, Madison Square Garden, does not face additional competition. No one should forget that Cablevision has said that it will drop its opposition to the new stadium if the city eliminates the planned retractable roof. This ploy is hardly a principled stand on what&#39;s best for New York.

    In a new twist, it is becoming clear that Cablevision is living on borrowed time. The architect of the anti-stadium effort, Chief Executive James Dolan, and his father, Charles, have clashed over the company&#39;s future. Analysts believe that the father has demanded that Cablevision be sold. The younger Dolan is thought to want to keep control of the Garden, but it seems unlikely that he can do so. The Garden and its sports teams, the Knicks and the Rangers, have been owned for decades by a series of large corporations, whose deep pockets are needed to enable the teams to compete.

    Shareholders would want the company to maximize its value, a fair request that would shoot down any sweetheart deal with the Dolans.

    So here&#39;s how this story could play out: The stadium will be blocked. New York will lose the Olympics. Cablevision, Madison Square Garden and its sports teams will be sold to someone who would have supported the stadium plan. The new owner will withdraw Cablevision&#39;s plan to develop the stadium site itself.

    The alternative is so much better. Disregard Cablevision and approve the stadium. Build a home for the Jets that will pay for itself. Boost the much-needed development of the West Side. Win the Olympics.

    New Yorkers must choose between these two scenarios.
    how is this for a crazy concept, Woody Johnson pays for the goddamn thing by himself? nahh, why do that when we can make life easy and force the city and state to pay &#036;600 million of it? [/b][/quote]
    It&#39;s a question of how do you want Woody to do it. Have the taxpayers pay &#036;600 million or have 75,000 Jet fans pay &#036;600 million?

  6. #6
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    Besides, did you know that Dolan&#39;s papa got &#036;200 million in devestature from the sale of both VOOM & Rainbow Media to JVC/Dish Network?

    It&#39;s also been rumored in most of the VIDEO/MEDIA guides that they intend to sell Cablevision to Time Warner Video at an estimated cost of &#036;2-3 Billion dollars.

    I really feel sorry for a pair of Billionaires that will make even more money in the purchase of the AIR RIGHTS - even if it does remove them as my cable company&#33;

    HURRAY&#33;

  7. #7
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    Originally posted by Trades@Mar 1 2005, 10:16 AM
    Where is this article from? Link?
    Crains.

  8. #8
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    Originally posted by 2009fatman+Mar 1 2005, 12:07 PM--></div><table border='0' align='center' width='95%' cellpadding='3' cellspacing='1'><tr><td>QUOTE (2009fatman @ Mar 1 2005, 12:07 PM)</td></tr><tr><td id='QUOTE'> <!--QuoteBegin-Trades@Mar 1 2005, 10:16 AM
    Where is this article from? Link?
    Crains. [/b][/quote]
    could you post the link please or the URL crains.com is not right.

  9. #9
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    Originally posted by BaumerJet@Mar 1 2005, 10:45 AM
    Besides, did you know that Dolan&#39;s papa got &#036;200 million in devestature from the sale of both VOOM & Rainbow Media to JVC/Dish Network?

    It&#39;s also been rumored in most of the VIDEO/MEDIA guides that they intend to sell Cablevision to Time Warner Video at an estimated cost of &#036;2-3 Billion dollars.

    I really feel sorry for a pair of Billionaires that will make even more money in the purchase of the AIR RIGHTS - even if it does remove them as my cable company&#33;

    HURRAY&#33;
    Baumer, You&#39;re the one living on borrowed time if you think the MTA will ever give that land to that little brat Dolan.

    That fool is going Chapter 7 no matter how much under the table money they get from the NJSEA to stop the West Side Stadium.

    Their deal to buy Voom went nowhere after you stated on this board it was going to happen.

    Their stock price is falling, and their shareholders are up in arms.

    You and the Dolans are finished, Give it up already.

  10. #10
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    where were you last week, fatman? missed your engaging posts

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