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Discussion in 'Houston Astros' started by J.R., Mar 12, 2014.

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  1. J.R.

    J.R. Member

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    Rockets critical of Comcast in latest court filing

     
    #261 J.R., Apr 1, 2014
  2. TheMystery008

    TheMystery008 Member

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    What a mess this is?!
     
    #262 TheMystery008, Apr 1, 2014
  3. juicystream

    juicystream Contributing Member

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    <blockquote class="twitter-tweet" lang="en"><p>&quot;We saw it move to the middle a little bit,&quot; Jim Crane said of CSN mediation.</p>&mdash; Jose de Jesus Ortiz (@OrtizKicks) <a href="https://twitter.com/OrtizKicks/statuses/451090385645760513">April 1, 2014</a></blockquote>
    <script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script>
     
    #263 juicystream, Apr 1, 2014
  4. Major

    Major Member

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    I'm shocked. :rolleyes:
     
    #264 Major, Apr 1, 2014
  5. Granville

    Granville Member

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    #265 Granville, Apr 1, 2014
  6. MadMax

    MadMax Contributing Member

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    This thing is so dead in the water. Please but a bullet in it already.
     
    #266 MadMax, Apr 1, 2014
  7. Granville

    Granville Member

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    This could be a good sign that there is some compromise amongst the parties.
     
    #267 Granville, Apr 1, 2014
  8. Nick

    Nick Contributing Member

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    They had a meeting about it, but couldn't agree to which bullet to use, which gun to use, who would be pulling the trigger, how much force used to pull the trigger, and where they would end up shooting it...
     
    #268 Nick, Apr 1, 2014
  9. Granville

    Granville Member

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    If Judge Hughes did throw this out of bankruptcy on appeal. Is that the end of the legal debate? Would Comcast be able to appeal his decision?

    Who absorbs all the losses that have racked up?

    Just from those 3 parties you have

    Comcast Loan 100M
    Astros 27M
    Rockets 36M
    Comcast Services 3.1M

    If the Astros have 46% equity, they are on the hook for paying 46% of those numbers.

    That comes to 76.4M in the Astros share of debt and amounts to a lot more than they are owed. That's not counting all the bills either. I suppose Liquidation would offset some costs here but they would only get 46% of that money too.
     
    #269 Granville, Apr 1, 2014
  10. RunninRaven

    RunninRaven Contributing Member
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    Or who would pay for the bullet.

    Granville says Jim Crane.
     
    #270 RunninRaven, Apr 1, 2014
  11. msn

    msn Member

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    that's so easy. everybody bring his own gun, and point it at Bud Selig. Once pointed there, the force question answers itself. :)
     
    #271 msn, Apr 1, 2014
  12. juicystream

    juicystream Contributing Member

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    Everyone would be out what they are owed. Since the Comcast loan is likely secured by the assets of the company, it would probably get any liquidation proceeds before other creditors.
     
    #272 juicystream, Apr 1, 2014
  13. Major

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    If it went into liquidation, outside of whatever is recovered from CSN-H's limited assets, the people who are owed money just don't get paid. None of the parties would be expected to pour in new money to pay the remaining debts. So the Astros and Rockets would lose the rights fees owed, Comcast would lose their loan, and the vendors would lose whatever they are owed.
     
    #273 Major, Apr 1, 2014
  14. RockFanFirst

    RockFanFirst Member

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    I haven't been anti-Crane at all in this fiasco, but I'm starting to get the feeling that he might be best served to keep his mouth shut.
     
    #274 RockFanFirst, Apr 1, 2014
  15. Nick

    Nick Contributing Member

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    Without the TWC merger putting Comcast under the microscope... they likely buyout the channel.
     
    #275 Nick, Apr 1, 2014
  16. Faos

    Faos Contributing Member

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    Crane also thought Comcast was going to offer to buy him out a couple of weeks ago. (Although maybe they did and he didn't like the offer.)
     
    #276 Faos, Apr 1, 2014
  17. Faos

    Faos Contributing Member

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    He should have kept all the negative talk behind closed doors all along.
     
    #277 Faos, Apr 1, 2014
  18. Granville

    Granville Member

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    So Crane is out 326M that he paid for his share of the Network too? The Astros share (9.2M a year in Network losses over a 10 year period)while raking in 80M a year on the team side don't seem as bad now.....
     
    #278 Granville, Apr 1, 2014
  19. Granville

    Granville Member

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    I think he didn't like the offer and ran that stupid MLB TV bluff on Comcast and they called him on it.
     
    #279 Granville, Apr 1, 2014
  20. juicystream

    juicystream Contributing Member

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    He would be. Same as you investing in a bank that went belly up during the economic crisis. That is the risk.
     
    #280 juicystream, Apr 1, 2014
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