Employee puts Fertitta on blast for not paying them

Shhhh...don't tell my wife!

 

If people thought Tilman was a cheapass before, just wait til after this is all over. He's already lost a ton of money from the Morey tweet(which in fairness was not his fault). Now with the cancellation of games and the likelihood of either an aborted season or a rushed postseason, he's gonna lose even more revenue. And God only knows what the relationship of the NBA(and this country and the rest of the world at large) will be like with China going forward.

He picked a horrible time to buy the Rockets. He inherited a team that was a win away from a title, but this season has been a nightmare scenario for him. He's still at fault for being a cheap b*stard who traded away assets and picks to remain below the luxury tax, but all these other events are gonna tank the value of the franchise.

 

LOL you think the vast majority of businesses can keep supporting their workforce when a huge majority of them are not working and a large amount of the company’s business is affected by a GLOBAL pandemic? There are some companies that have the liquid asset reserves to do so, but almost none of them are in the entertainment or resturaunt industry. Handling national and international crises like this is why governments exist, but that’s an entirely different argument and reserved for a different sub-forum.

 

Let's just hope a good owner rescues the team after he formally files for Bankruptcy, Chapter AF

 

One of my favorite things is to read on CF is how the owner is not a sweetheart. How he only has his own interest in his thoughts and deeds. How he tried to buy the tree over rescuing the kitten out of it. How he wants his family and him to be a major part of his organization. Man that guy is just not the kindest of people...
or is he an upfront, family first, driven man who sees opportunities and wants to play with HIS OWN toys?

Do I know him?
No
Do I like the way he acts?
No
Does he have the right to do everything he does?
Yes

 

ok. and we have every right to tell it like it is and that he sucks as a owner. so what.

the name of the this game is to win. that ain't happening with him and patrick waiting in the wings. it's not to compete to being one of the worst owners in the league

 

Very, very few people become rich and/or powerful in this world by being benevolent. They may take up a praiseworthy cause with the huge amount of assets they accumulated, but let's not kid ourselves thinking they didn't break quite a few eggshells to amass that wealth to begin with.

 

Dude, If he makes his Son GM I won't know what to do.

 

That's what Texans fans ask themselves every freaking day

 

Do we have the right to call him out for his narcissitic and toxic behavior - YES.

DD

 

IMO I think he looks to sell sometime this summer. If this pandemic last deep into May, put a fork in him (no pun)

 

whooooo... we got a smart one here....

 

Principal owner Josh Harris provided a statement to ESPN’s Adrian Wojnarowski on Tuesday noting that “it’s clear that was the wrong decision.”

‘I apologize for getting this wrong’


“Our commitment has been to do our best to keep all of our employees working through this very difficult situation,” Harris wrote. “As part of an effort to do that we asked salaried employees to take a temporary 20% pay cut while preserving everyone’s full benefits — and keeping our 1,500 hourly workers paid throughout the season.



“After listening to our staff and players, it’s clear that was the wrong decision. We have reversed it and will be paying these employees their full salaries. This is an extraordinary time in our world — unlike any most (sic) of us have ever lived through before — and ordinary business decisions are not enough to meet the moment. To our staff and fans, I apologize for getting this wrong.”

 

Billionaire Tilman Fertitta said he has had to temporarily lay off 40,000 workers at his casino, hotel and restaurant empire to limit the economic damage caused by government-imposed shut-downs.

The Texas native, who owns the Golden Nugget casinos and hundreds of restaurants including Del Frisco’s and Bubba Gump Shrimp under the Landry’s Inc. umbrella, is calling on the government to allow businesses to reopen at limited capacity in a couple of weeks to avoid economic disaster.

“I think what we are doing with the shutdown is good but in a few weeks people will need to be around people,” Fertitta said on Tuesday. “Otherwise you are going to go into an economic crisis that is going to take us years to dig ourselves out of.”

He said restaurants and casinos could be allowed to operate at 30 percent to 40 percent of capacity to soften the economic impact of the restrictions and allow companies to stay in business.

Fertitta’s companies have furloughed 70 percent of their employees in the wake of the COVID-19 pandemic, which has halted travel and large gatherings around the world.

All of Fertitta’s casinos have been ordered to shut and even the restaurants that are operating by offering takeout are only bringing in 4 percent to 5 percent of their typical business. His company has been burning through a few million dollars of cash per day.

“We are doing basically no business,” he said. “This is very hard on a lot of working families, but we have to survive or there is no company.”

https://www.msn.com/en-us/finance/c...rkers-at-casino-restaurant-empire/ar-BB11F2Bh

The owner of the National Basketball Association’s Houston Rockets said he has been talking with banks about potentially raising as much as $200 million of additional liquidity “as a little bit of insurance.”

Still, he’s confident his businesses have access to enough cash to ride out the current volatility and he’s even considering buying back some of Golden Nugget’s debt when things begin to rebound.

”As soon as I see us making the turn and everything is going to reopen we are 100% going to buy back our debt,” he said. “I see that as a great opportunity.”

“We are doing basically no business,” Fertitta said. “I want to hire every employee back. This is very hard on a lot of working families but we have to survive or there is no company.”

 

Sounds like he’s over leveraged

 

I love how no one knows the owner of Marriott or ****ing Joe’s Crab Shack, but this fatheaded idiot cant help but to put his big head anywhere the spotlight can fit it.

So employees are burying him by name.

I hope this crisis hits him hard and he’s forced to sell the Rockets.

 

This.

Don’t forget we had several Chinese billionaires interested with clear loyalties to the CCP.... I will take scummy used car salesmen over a surrogate for the CCP

 

Dude is already BILLIONS in debt, and he wants to raise another $200 million in debt.
That's what I used to do when I was broke AF. I would "raise" credit by applying for another credit card, then pay the minimum balance with another credit card or cash advance. Just a revolving debt. I think they have a term for it, "grifting" or "kiting" or "almost Chapter 7, 11,13" or something sumthin



"The owner of the National Basketball Association’s Houston Rockets said he has been talking with banks about potentially raising as much as $200 million of additional liquidity “as a little bit of insurance.”

Still, he’s confident his businesses have access to enough cash to ride out the current volatility and he’s even considering buying back some of Golden Nugget’s debt when things begin to rebound.

”As soon as I see us making the turn and everything is going to reopen we are 100% going to buy back our debt,” he said. “I see that as a great opportunity.”

“We are doing basically no business,” Fertitta said"

 

Sounds very much like Donald Trump. LOL