Posted by 4949:
Posted by TrueBlue:
Posted by Bonn1997:
Posted by SupremeCommander:
Well, when you cancel your cable--if it is Cablevision--make sure you tell them the reason you are canceling is because the Knicks suck.
Write a letter to the CEO after you cancel or maybe there's a local manager. Find someone high up to write to. If you're just talking to some person on the phone making $8 per hour, they won't care why you're canceling, although they may pretend to care because it's their job.
That's a good idea or you could request to talk to a Top Sales exec and explain to them why you are canceling. Also inform them you're going to encourage many of your close friends and relatives that they should cancel their service.
I take it, this is going to make a huge difference with a cable company?
Okay, I'm not financial expert or anything, but I am a master of finance student right now. Here's my explanation how if a bunch of people do this, it will make a difference:
The MSG property is only worth 2 percent of Cablevision's total assets. THAT'S TWO PERCENT!!! If these properties bankrupted: The Knicks, The Rangers, The Liberty, The Garden, MASG Television, Radio City Music Hall among others, that is only .02 cents on the dollar. It really isn't a big deal if the Knicks eat poo every year.
So, Poppa Dolan has done quite well for himself. Then comes his idiot son, who is a former rich-boy who went skiing in quarter-inch thick, two mile long rails of cocaine. He gets out of rehab and in order to prevent his son from hitting rock bottom, he says "Son, I'm so proud of you. Here's The Patrick Ewing Knicks and the 1994 Champion Rangers." Poppa Dolan is probably thinking that only an idiot can **** this up.
Well, his moron son did **** everything up and it is becoming a publicity circus. But this is only for the MSG Properties, not for Cablevision. Can you imagine a Wall Street Journal article headline of "Cablevision Stock Dropped Today Because Of Knicks."
Now, Poppa Dolan is in violation of one of the major principal-agent dilemmas here: a manager not doing what's best for the company. That's how you maximize stock value, everything else detracts. Well, the shareholders aren't stupid, they know about this. Basically, they said "okay, we'll give you money for ownership, but we want a Board of Directors to protect our interests." Therefore, a Board can vote to remove Poppa Dolan, but more likely The Idiot Who Burned Down The Garden.
I'm not sure if the Dolans are majority shareholders or even if Cablevision is still public. If the company is private, obviously, it can do whatever it want. If the company is public and the Dolans are primary shareholders, they can still likely avoid the Board removing The Idiot Who Burned Down The Garden... however, there is a bright side. Poppa Dolan may pull the plug to preserve his wealth. Who wants to lose a few billion dollars?
If Cablevision is a public company and the Dolans have minority ownership, the Board of Directors could remove Dolan. However, this would require the MSG Properties problem to be directly linked to Cablevision's financial statements. A paper trail or Cablevision's phone records indicating dropped service because of the Knicks... well, that could catalyze change.
[Edited by - supremecommander on 12-11-2007 10:58 PM]
12/11/2007 9:02 PM
