In a transaction closing February 16th, it was reported in news outlets that Research in Motion purchased, through a numbered company, 25.7 acres of industrial land in Cambridge, Ontario for $3.7 million.
The numbered company - 1258700 Ontario Limited - however, is a wholly-owned holding company of Jim Balsillie. This is rather telling as we now know that the land is a private Balsillie holding, and not a part of Research in Motion.
Further investigations show that Mr. Balsillie has disposed of approximately $100 million of RIM stock over the past three years, mostly through this company, well over the $2 million needed for the stock options he exercised over that same period. It appears the $50 million in personal cash plus $190 million in financing he's rumoured to be putting together to purchase the team may indeed by correct, and that plans for an arena in Cambridge are in motion.
What this means for the Predators future in Nashville is unclear, as only 14,185 in paid attendance is required to keep the team for at least three more years. If this figure isn't met and the city doesn't make up the difference though, hockey fans in Southwestern Ontario better start socking away some ticket money.
Balsillie directly owns 666,000 shares in RIM, and indirectly owns 11.136 million shares in RIM through his wholly-owned holding company, 1258700 Ontario Limited. RIM shares closed Friday at $175.75 on the TSX, leaving Balsillie's total holdings valued at $2.07 billion.
Sunday, June 10, 2007
Friday, April 13, 2007
Move the Predators already !!
Are you kidding me ?
The Predators only had a 1.4 share, some 13,217 households, for the playoff opener against San Jose. Here's the kicker. It's a 60 % DROP from last year's rating. Put a knife in Nashville as an NHL market, Bettman has failed again !
How could so many people in a city of 1.5 million be so totally ambivalent to hockey. It's not even that they hate it, they just don't care.
Pathetic.
Here's a link to the story here.
The Predators only had a 1.4 share, some 13,217 households, for the playoff opener against San Jose. Here's the kicker. It's a 60 % DROP from last year's rating. Put a knife in Nashville as an NHL market, Bettman has failed again !
How could so many people in a city of 1.5 million be so totally ambivalent to hockey. It's not even that they hate it, they just don't care.
Pathetic.
Here's a link to the story here.
Tuesday, April 10, 2007
Blackhawks win draft lottery.
It seems even with owner Bill Wirtz doing everything possible to destroy the franchise, the hockey gods finally have taken mercy on the fans.
At the lottery, held behind closed doors at the NHL's offices in New York (of course these suits won't do it publicly since they believe transparency is their enemy), the Hawks won the right to select first overall, moving up four spots. Unfortunately for fans, there isn't a stud franchise prospect this year.
Philadelphia will select number two, followed by Phoenix, Los Angeles, and Washington.
Chicago is actually amassing a pretty solid young core with players such as Jonathan Toews, Tuomo Ruutu, Cam Barker and Brent Seabrook already in the organization. The future looks bright a few seasons down the road if management will keep these guys together. As any Hawks' fan will tell you though, don't count on it !
At the lottery, held behind closed doors at the NHL's offices in New York (of course these suits won't do it publicly since they believe transparency is their enemy), the Hawks won the right to select first overall, moving up four spots. Unfortunately for fans, there isn't a stud franchise prospect this year.
Philadelphia will select number two, followed by Phoenix, Los Angeles, and Washington.
Chicago is actually amassing a pretty solid young core with players such as Jonathan Toews, Tuomo Ruutu, Cam Barker and Brent Seabrook already in the organization. The future looks bright a few seasons down the road if management will keep these guys together. As any Hawks' fan will tell you though, don't count on it !
Weighing in on Imus.
I usually don't like to weigh in on politics, however you know what really bugs me about the whole situation ? Al Sharpton and his self-righteous indignation to Imus' comments.
Is Don Imus a racist ? Probably. But is he any worse than Rush Limbaugh. Remember back when Limbaugh called New Orleans mayor Ray Nagin - Ray Nagger ? I sure do. Yet instead of pursuing the removal of Limbaugh from the airwaves, Sharpton goes after the next publicity stunt.
What Don Imus said was wrong, though he has somewhat apologized and accepted his punishment (2 week suspension). However, the Rev. Al Sharpton's shameless pursuit of self-promotion is equally disgusting.
The world would be a better place if both of these guys would crawl back under their rocks !
Is Don Imus a racist ? Probably. But is he any worse than Rush Limbaugh. Remember back when Limbaugh called New Orleans mayor Ray Nagin - Ray Nagger ? I sure do. Yet instead of pursuing the removal of Limbaugh from the airwaves, Sharpton goes after the next publicity stunt.
What Don Imus said was wrong, though he has somewhat apologized and accepted his punishment (2 week suspension). However, the Rev. Al Sharpton's shameless pursuit of self-promotion is equally disgusting.
The world would be a better place if both of these guys would crawl back under their rocks !
Monday, April 9, 2007
Belfour Busted for Boozin' - Again !
No, this time he didn't offer a billion dollars to the cops, but he still was arrested after refusing to leave a south Florida bar.
First he fights with teammate Alex Auld in a hotel after leaving a bar earlier this season, and now this ? Obviously you can take the player out of small town Manitoba, but you can't take small town Manitoba out of the player.
Get some help Eddie.
First he fights with teammate Alex Auld in a hotel after leaving a bar earlier this season, and now this ? Obviously you can take the player out of small town Manitoba, but you can't take small town Manitoba out of the player.
Get some help Eddie.
Sunday, April 8, 2007
The Pronger-Oilers fiasco.
Oilers' governor/part owner Cal Nicholls has finally spoken out publicly about what caused Chris Pronger to demand a trade last summer.
Pronger's wife Lauren hated Edmonton and for the most part remained back in her native St. Louis, only flying into Edmonton with the kids for home games then flying right back out when the Oilers went on the road. It's also implied the Prongers' marriage was over if Chris remained in Edmonton.
Family is certainly more important than hockey, so I can understand Pronger's dilemna, and his subsequent trade demand. It's a shame the Oilers had to lose a great hockey player because of an heiress wife's inability to support her husband's career by living in Edmonton six months per year.
I give a lot of credit to Oilers' management for being compassionate about the situation by accomodating his demand, even though moving him crippled the franchise's reputation and on ice performance.
Personally I would've made him sit out for the entire length of his contract, and forego the remaining $ 25 million. Let his wife deal with that back in St. Louis, while pissing away her husband's Hall of Fame career.
Pronger's wife Lauren hated Edmonton and for the most part remained back in her native St. Louis, only flying into Edmonton with the kids for home games then flying right back out when the Oilers went on the road. It's also implied the Prongers' marriage was over if Chris remained in Edmonton.
Family is certainly more important than hockey, so I can understand Pronger's dilemna, and his subsequent trade demand. It's a shame the Oilers had to lose a great hockey player because of an heiress wife's inability to support her husband's career by living in Edmonton six months per year.
I give a lot of credit to Oilers' management for being compassionate about the situation by accomodating his demand, even though moving him crippled the franchise's reputation and on ice performance.
Personally I would've made him sit out for the entire length of his contract, and forego the remaining $ 25 million. Let his wife deal with that back in St. Louis, while pissing away her husband's Hall of Fame career.
Friday, April 6, 2007
Kansas City An NHL City ?
With a brand spankin' new 17,500 seat arena set to open this fall, complete with all the latest bells and whistles, Kansas City seems to be the NHL's new darling child.
But haven't we seen the NHL make enough mistakes though ? Atlanta looked like the next great success to the NHL, but their paid attendance this season is only 13,300. Nashville was another Bettman poster child. Current paid attendance ? 13,500. Phoenix ? 13,300. Florida ? 12,500. Get the point ?
It's comical to think that just because a city has an arena, that the NHL will be a success. Hockey has failed in all prior incarnations in Kansas City, and there is nothing to believe it won't again.
The best the Major League Baseball Royals could draw in their heyday was only around the league average in attendance, and they haven't come close to that in the past fifteen years. In fact, in the past three seasons they've been among the worst three teams in the entire major leagues.
There's a very good reason why the Scouts were forced to leave town in the 70's. Why repeat the same mistake 30 years later ?
But haven't we seen the NHL make enough mistakes though ? Atlanta looked like the next great success to the NHL, but their paid attendance this season is only 13,300. Nashville was another Bettman poster child. Current paid attendance ? 13,500. Phoenix ? 13,300. Florida ? 12,500. Get the point ?
It's comical to think that just because a city has an arena, that the NHL will be a success. Hockey has failed in all prior incarnations in Kansas City, and there is nothing to believe it won't again.
The best the Major League Baseball Royals could draw in their heyday was only around the league average in attendance, and they haven't come close to that in the past fifteen years. In fact, in the past three seasons they've been among the worst three teams in the entire major leagues.
There's a very good reason why the Scouts were forced to leave town in the 70's. Why repeat the same mistake 30 years later ?
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