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Discussion in 'General DISH™ Discussion' started by Richard King, Mar 11, 2009.
Poor guy only about 4B left.
It's always interesting to see what's going on. The two I watch:
Weird part of it is if they had simply taken their wealth in cash in 2007 and spread it around in U.S. bank accounts, they would both be about #35 this year, something that required about $15 billion in 2007.
And keep in mind that this is before more recent "slippage" in the market.
The guy is not alone ...
Recession Wipes 30% Of Forbes Billionaires Off List
A billion here, a billion there ... soon you're talking about real money.
A little flashback to 1998. At that time Rupert was worth $5.6 Billion. John Malone was worth 2.5 B
Wow. Charlie was only worth $570 million back then. I'm sure he lost more than that in a week recently.
Gee, and Molone's only worth $1.5B.
Did any of you catch the controversy over the list this year including Joaquin Guzman Loera because of how he makes his money? IMHO the list would be a bit shorter if they started to apply moral standards to the wealth. It's just a list.
But it does raise some interesting questions about taxes....:sure:
I think we should all take up a collection to help these poor guys.:lol:
Oh, wait. My retirement pension has about evaporated...maybe they should start up a collection for the rest of us:nono:
His wealth fell because the taxpayers haven't bailed him out. I see in today's news where AIG is handing out $165 million in bonuses out of the $170 million given them in the taxpayer bailout last fall and winter. Almost 100% of our bailout money going to pay bonuses. He has to let Echostar fail in order to become richer. Only in America could something this stupid happen.
Actually, AIG received $170 BILLION (with a B) not 170 Million. This makes the bonuses a much smaller percentage of the bailout. The problem that these companies are facing at this time is that MUCH of the pay of the employees each year come as bonuses rather than salary. THAT needs to be changed. If they are to retain employees they have to remain competative in their pay. Many years ago I worked in the brokerage industry (low position in the back office). I didn't receive bonuses because I wasn't in the job classification that was paid bonuses. I did, however, hear of higer level employees leaving one company to go to another because of reduced bonuses. The company I was with even hired away some top producers from other companies. If regulations are put in place on bonuses for companies that took bailouts that are not put in place on their competition there will be a huge talent drain on those companies that took the money and those companies will be even less likely to survive and pay the money back. One solution would be to let the companies fail and give no bailouts..... BUT....
About the time that AIG got into trouble I got a call from a fellow that I know who works in a building in downtown Minneapolis. The large office building that he works in (some 30 or 40 stories tall) is insured by AIG (as are most large buildings in downtown Minneapolis and most other cities around the US). He informed me that a memo was received from the property manager stating that, due to liability issues, if AIG failed all entrances to the building would be locked immediately and no one would be allowed in. Doors would be open to allow people out only. The same was being said for other buildings under AIG policies. I DON'T in any way like bailouts, but, if AIG had been allowed to fail, VERY large portions of the country would have been shut down. Commerce would have nearly stopped.
I remembered about 2 hours after posting the blog that I had called the AIG bailout in the millions instead of the billions.
I disagree with you on wht would happed if AIG would have gone out of business. The threat to close all those business offices would not have happened. What business owners, managers, etc say they will do has to be taken with a grain of salt and I wouldn't trust any of them. I could just see all those who had paid their rent on time being told they are not allowed into their own offices. The building owners would find insurance coverage from another insurer within hours.
Actually, the owners of the building that my friend works in informed all their renters that they would not be allowed back in the building if AIG went under. My friend's boss told all the employees to take home anything that they would need in the next few days because they would't be allowed back in if AIG went under. Of course, since it didn't happen we can never say what would have happened. As for getting other insurance, I KNOW from personal experience that that is much easier said than done. The quoted insurance rate on my commercial building went up by nearly 500% ($3,500 to $17.000 per year) when my policy was cancelled after the hurricanes of 2004. That quote was from the ONLY company that would write a policy for the building (Lloyd's of London). I paid the mortgage off and "self insure" (read gamble).
The future newspapers should read Charlie and DISH Network bought. Watch the consumer base shrink since 1996...all aboard the rollercoaster!
I'm not sure where I fit into worldwide rankings. I don't believe I'm on any of Forbes' lists (not even their subscription list - although I'm probably on their "do not call" list ).