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HFT Firm CEO Seeks Taxpayer Dollars To Save His Hockey Team
04-16-2014, 04:20 AM #1
Shadow Mrs. Buckwheat
Posts:12,777 Threads:1,182 Joined:Feb 2011
Vincent Viola, whose high-frequency trading firm plans to raise millions of dollars in an initial public offering next month, is seeking tax dollars to help cover the bills for the Florida Panthers hockey team he bought six months ago.

Viola asked lawmakers in South Florida’s Broward County to use $64 million in taxpayer funds for arena bond payments owed by the team, which says it’s losing money as attendance has fallen to a 14-year low. Officials in Broward, which encompasses Fort Lauderdale on the Atlantic Coast, disagree on how to proceed, with some saying that if they don’t pick up the tab, the team may move and leave taxpayers with $225 million in debt and an empty arena.

http://www.bloomberg.com/news/2014-04-15...redit.html

Viola has a net worth of $1billion. coffeetime.gif too bad he signed Luongo rofl.gif
04-16-2014, 05:03 AM #2
Below Average Genius Member
Posts:2,003 Threads:163 Joined:Apr 2013
(04-16-2014, 04:20 AM)Shadow Wrote:  Vincent Viola, whose high-frequency trading firm plans to raise millions of dollars in an initial public offering next month, is seeking tax dollars to help cover the bills for the Florida Panthers hockey team he bought six months ago.

Viola asked lawmakers in South Florida’s Broward County to use $64 million in taxpayer funds for arena bond payments owed by the team, which says it’s losing money as attendance has fallen to a 14-year low. Officials in Broward, which encompasses Fort Lauderdale on the Atlantic Coast, disagree on how to proceed, with some saying that if they don’t pick up the tab, the team may move and leave taxpayers with $225 million in debt and an empty arena.

http://www.bloomberg.com/news/2014-04-15...redit.html

Viola has a net worth of $1billion. coffeetime.gif too bad he signed Luongo rofl.gif

The accompanying article makes the team owners look even greedier. The CEO had the gall to say he could get better players if the taxpayers would pay more money.

This is a telling line from the story: "Broward projected at the time that profit-sharing would have returned $76.6 million to taxpayers by now. The county has received $331,000."

The promised estimate is only off by 23000%.

Pray for me. hug.gif
04-16-2014, 05:37 AM #3
Shadow Mrs. Buckwheat
Posts:12,777 Threads:1,182 Joined:Feb 2011
It's the new normal, grab all the profits and dump the losses on the taxpayer. gaah.gif
04-16-2014, 07:19 PM #4
yankees skier
Posts:5,894 Threads:215 Joined:Feb 2011
The NHL should move the team to Quebec .coffeetime.gif

Biere.



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