Hell hath no fury like an accounting firm shunned, the old saying goes. Except that’s not an old saying, it’s something silly I just made up. Anyway, we stumbled across this article about a recently graduated Texas A&M football player, Connor McQueen, who is opting for a job on the team’s coaching staff rather than […]
If there's one thing tax people can't stand, it's other people saying incorrect things about taxes. I know this because I used to be a tax person who spent lots time listening to superiors correct me (and others) constantly on nuances of the code. But, it's fine! Taxes are hard and people like showing off. […]
The FIFA scandal is increasingly ridiculous as was so deftly shown by John Oliver last night. But now a Big 4 firm appears to be caught in the tentacles of it, which further demonstrates its depth and reach. A tipster dropped us a link to very interesting post from Matt Scott, a journalist who has […]
As you know, BDO serves as the official accounting firm of asshole of the century Dan Snyder's football team. Now, you might ask yourself, what would the exclusive provider of professional services of an asshole's professional football team actually do? Excellent question! The answer is: Stats-Pack presented by BDO. What is that exactly? A list of notes […]
I can't help but think of this: Anyway, here are the canned quotes from the principals: "We are thrilled to serve as the exclusive accounting firm of The Washington Redskins," said Wayne Berson, CEO of BDO USA, LLP. "The team's focus on providing a winning experience for fans and business partners complements BDO's commitment to […]
Tony Romo will make a lot of money playing quarterback for the Dallas Cowboys under his new contract. How much money that contract is actually worth depends on how you look at the situation. Americans for Tax Reform looks at the situation in the following terms: if, you opt to play for a team in a state […]
In today's there's no way we could completely mock this and feel good about ourselves news, Phil Mickelson and his hat did something awfully nice at last night's Monday Night Football game between the Chargers and Broncos, even if things didn't quite go as smashingly as the post-game press releases made it seem. You see, […]
As you know, the Jumpstart Our Business Startups Act was made law earlier this year, in part, to exempt "emerging growth companies" (or "EGC" for you acronym junkies) from certain reporting and disclosure requirements. "Emerging growth companies" being those with less than $1 billion in revenues in a fiscal year and the best known exemption allowed […]
This far from being Notre Dame's Jerry Sandusky moment but it still has to hurt. The Securities and Exchange Commission today charged Daniel Ruettiger and 12 other participants in a scheme to deceive investors into buying stock in his sports drink company. Ruettiger is widely known for having inspired the 1993 motion picture "Rudy." According to […]
If this doesn’t convince you accountants are important, nothing will:
I noticed this article during a visit back to my hometown of Green Bay. Now this is something I think we all can aspire to. The Packer franchise has such a deep history, and especially interesting as the Packers are the only publicly-owned professional football franchise in the NFL (and maybe the only sports franchise in the US) where you can purchase shares of its stock. Go Pack.
“Green Bay Packers likely owe existence to treasurer Frank Jonet”
The Green Bay Press-Gazette shares the story of guys with money who stepped up to save a team they loved:
Even casual students of Green Bay Packers history might recognize the names of the local businessmen who played the key roles in keeping the franchise afloat through its economically turbulent first 30 years.
There’s the legendary Curly Lambeau, whose statue sits in front of the Lambeau Field Atrium, and the rest of the “Hungry Five” who made sure the team stayed solvent in its most dire days: Andrew Turnbull, the former Green Bay Press-Gazette publisher and first team president; Lee Joannes, a local grocery wholesaler and team president from 1930-47; Dr. W.W. Kelly, another original franchise officer who doubled as the team’s first physician; and Gerald Clifford, the Packers’ long-time attorney who in 1923 drew up the papers for their one-of-a-kind incorporation.
And what’s early Packers history without mention of George Calhoun, the irascible Press-Gazette sports editor who relentlessly promoted the team after a chance meeting with Lambeau on a Green Bay street corner in 1919 spurred the idea for a local professional football club?
But even experts on the Packers’ early years might not have heard of Frank Jonet, the taciturn, civic-minded accountant who helped steer the franchise through bankruptcy receivership in the mid-1930s and played a key role in the desperate stock sales of 1935 and 1950 that kept the franchise alive.
“I find it strange that (Jonet) wasn’t better known, particularly because he was the financial receiver of the franchise at a time when this team was very, very close to going out of business,” said Bob Harlan, the Packers’ chairman emeritus, who will present Jonet into the team’s hall of fame on Saturday. “The Circuit Court really threatened him, either pay these bills or close up your shop. He was one of the leaders who saw to it that this team continued to exist.”
The entire thing is too long to read even for me and that’s my team but you’re welcome to.
The short version is that the team suffered through multiple financial crises and survived somehow.
Today in leaked sports organization financial statements news, Deadspin’s latest scoop is the audited financial statements of NFL Ventures, L.P. and Subsidiaries. NFL Ventures consists of the following subsidiaries: NFL Enterprises, NFL Properties, NFL Productions and NFL International. These companies perform operations from broadcasting to advertising to the NFL Network to Super Bowl hospitality.