Posted on 04/30/2014 5:12:50 PM PDT by Red Steel
He's the new "Emmanuel Goldstein."
Yep or if you've read Animal Farm--Snowball
BTW I forgot to mention George Zimmerman and Cliven Bundy on the list of PC lynch mob favorites.
Has it been 3 business days yet? So I wonder if Silver has filed the charges to himself?
"a) Any Member of the Association or the Commissioner may charge that a Member or Owner has violated one (1) or more of the provisions of Article 13. Said charge shall be made in Writing and shall be filed with the Commissioner, who shall, no later than three (3) business days after the charges are filed, cause a copy thereof to be served by a Writing upon the Member or Owner against whom such charges have been made. (b) The Member or Owner so charged shall, within five (5) days after receipt of the charges, file with the Commissioner its written answer thereto. The Commissioner shall thereupon transmit said charges and answer to each of the Governors of the Association and shall call a special meeting of the Governors to hear the charges, to be held on a date not more than ten (10) days after the filing of a Member’s or Owner’s answer, due notice to be given. "
Interesting connections ...
FLASHBACK
http://www.examiner.com/article/guggenheim-partners-gives-private-equity-a-good-name
Guggenheim Partners gives private equity a boost
May 22, 2012
The controversial political ads lambasting private equity have not criticized $125 billion private equity giant Guggenheim Partners, the new owner of the Los Angeles Dodgers. A quick online search shows that Guggenheim Partners’ CEO Alan D. Schwartz made a political contribution of $2,300 to the campaign ‘Obama for America’ and also made many large contributions to the political campaigns of former Senate Banking Committee Chair Chris Dodd, a prominent Democrat. The leader of Guggenheim Partners’ team managing the L.A. Dodgers, Magic Johnson, supports the White House and Democratic party with much more than money. Johnson is a personal friend of President Obama and has made public appearances to promote his candidacy.
Since Guggenheim Partners secured all the regulatory approvals for its purchase of the L.A. Dodgers quickly, it is evident that at least some private equity firms have the Obama administration’s seal of approval. That’s good news for sports business, because private equity has become an essential source of financing for major league sports teams in this country. The Green Bay Packers is the only team in the NFL which has over 500 individual shareholders and it still does not have the infrastructure for its shares to trade on a public exchange.
(snip)
February 4, 2013
Mayor Emanuel and Guggenheim Partners Announce Guggenheim’s Expanded Presence in Chicago
Earlier:
Can Earvin “Magic” Johnson bring a little magic to the Chicago area’s lukewarm job market?
Gov. Pat Quinn and other officials certainly hope so. They’ll announce this afternoon that the former basketball star turned businessman has become the controlling shareholder in an Iowa-based insurance company. He intends to expand it to Illinois, adding 200 employees here in the next year and potentially “hundreds more” in years to come.
The firm involved is West Des Moines-based EquiTrust Life Insurance Co., a diversified distributor of life insurance and indexed annuities that was acquired a couple of years ago by Guggenheim Partners, a large investment firm with headquarters both in Chicago and New York.
Guggeinheim has worked closely with Mr. Johnson in the past, most notably joining with him to acquire the Los Angles Dodgers baseball team, which plays not too far from where Mr. Johnson lives and where he himself used to play for the Lakers.
I haven’t found out yet exactly how this deal was put together. It was first reported in the Sun-Times. But a statement made available to me notes that Mr. Johnson has worked with Mr. Quinn to keep at-risk students in high school and on a path to earn their diploma.
According to the statement, Mr. Johnson “said that he has long been a fan of Chicago and the state of Illinois” and thinks it is the right spot to help EquiTrust innovate and grow.
He adds, “EquiTrust’s outstanding reputation and track record of helping people build for their future and plan for their retirement is a perfect example of doing well by doing good.”
I’m told that there are absolutely no incentives being offered, and that all 200 jobs are new and are not being moved here from Iowa.
Mr. Johnson’s Magic Johnson Enterprises is best-known for its chain of urban movie theaters, but also has interests in a TV network, airport concessions and health care, in addition to the Dodgers.
In the mayoral money race, wealthy donors keep Rahm in a league of his own
(snip)
Another $117,000 came from executives at Guggenheim Partners, also an investment firm, and their family members.
+++++++++++++++++++
http://www.chicagobusiness.com/section/40under40-2013_bio#Hitchcock
31, Managing director, Guggenheim Partners, Chicago
It was clear Adam Hitchcock had a knack for pragmatic problem-solving when he figured out an age-old logistics challenge for Barack Obama’s first presidential campaign—how to find housing for staffers coming to Chicago.
Mr. Hitchcock asked wealthy supporters who had opened their wallets to open their homes, too. After the election, he took his organizational skills to the White House during the president’s first term. He was a decade younger than most of his peers and predecessors when he became chief of staff to Austan Goolsbee at the Council of Economic Advisers.
He forged lasting relationships with Wall Street during the economic meltdown, returning to Chicago in 2011 to become a managing director at Guggenheim Partners, where he works for Chairman Alan Schwartz. When he’s not advising Guggenheim clients on economics and politics, Mr. Hitchcock is working on infrastructure deals, such as reviving the long-struggling airport in Gary, Ind.
The transplanted Hoosier from Muncie has a political pedigree that’s pure Chicago. The Indiana University grad was studying law at DePaul University when he interned for a congressman named Rahm Emanuel. He worked on Chicago Mayor Richard M. Daley’s campaign before hiring on with Team Obama, working for Pete Rouse and Valerie Jarrett doing special projects. More recently, he advised Penny Pritzker as she prepared to become U.S. commerce secretary.
“Prior to my confirmation, Adam offered very valuable counsel that helped make my transition into the public sector much easier,” Ms. Pritzker says. “He’s someone who has formed meaningful connections with, and between, so many people that have proven very valuable.”
BTW FYI to all those arguing the NBA constitution— don’t forgot that the conversation that the “girlfriend” taped was illegally obtained.
Don't be a moron. Oops too late for that.
not relavent. Prime example. George Zimmerman was a democrat and Hispanic before they remade him into an evil white conservative who was racially profiling a poor defenseless black child. Its all about the narrative. Pay better attention next time troll.
Great post!
This whole thing strikes me as a mere shakedown to confiscate Sterling’s property and to make it available for a certain group of people to purchase, hopefully at bargain basement prices.
Notice who is lining up to purchase the Clippers: Oprah, Johnson, etc.
Really? Can it be any more blatant?
And how stupid are these other owners? Don’t they know they can be served up on the same platter Sterling is being served up upon?
And that Adam Silver character— he looks like he should be wearing a SS uniform.
Who is he to ban someone from his personal property? For life? On what basis?
Sterling’s legal team needs to kick into high gear and knock the NBA into next week.
This whole thing is BS from a legal standpoint.
Like it or not, Sterling has every right to be a bigot in his personal life. There is no law against that.
But there is no evidence that he is actively bigoted while running the NBA franchise day to day.
Sterling is no angel,but that is not the point.
How this plays out will be a template for even more brazen confiscations and forced ownership changes in other areas of sports and commerce.
And the more Benghazi is talked about this week, the more the LSM will fan the Sterling controversy as a distraction.
Pass the popcorn.
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It will be great to see Donald Sterling hire some of the best legal talent and take on the NBA. I hope he does. I have not watched NBA games for years. I hope the league implodes so all those 20 million dollars a year idiots claiming they live on Sterling’s plantation...... end up with no jobs.
America is becoming like ancient Rome, keeping the proles content with bead and circuses
What provisions did he violate. Try Article 35A, paragraph (c), which applies to “[a]ny person who gives, makes, issues, authorizes or endorses any statement having, or designed to have, an effect prejudicial or detrimental to the best interests of basketball or of the Association or of a Member or its Team . . .”
Or, try the very next paragraph, which applies to “any person who, in [the Commissioner’s] opinion, shall have been guilty of conduct prejudicial or detrimental to the Association.”
Yes a fireside sale of the Clippers at below market price before the scandal. Sterling would sue and likely win an antitrust suit against the NBA. The NBA could end up making up the difference for the low purchase of Clippers and possibly paying Sterling in the hundreds of millions of dollars.
Obviously but he’s now being dispossessed by what could easily be adjudged an intolerable agreement. He can’t lose a billion dollar asset because someone doesn’t like language he’s free to use.
"First, it is interesting that Silver apparently split the source for the first two punishments. The suspension seems to have been under Article 35A(d) for conduct prejudicial or detrimental to the NBA. But 35A(d) also allows for a maximum $1m fine in addition to the suspension. Clearly Silver did not rely on that for the fine, however, since he imposed a fine 1 1/2 times larger than 35A(d)’s limit. Instead, the fine must have been under the Article 24(l) catch-all, given the amount. Why did he do it this way? Presumably to impose the larger fine under 24(l).
But there is a good argument that resort to the catch-all is inappropriate here. Article 24(l) expressly applies only “[w]here a situation arises which is not covered in the Constitution and By-Laws.” This situation is covered by another part of the Constitution–Article 35A(d), already used for the suspension. In other words, since Silver found that Sterling violated Article 35A(d) (in suspending him), that also should have been the basis for the fine. Silver thus was wrong to resort to the catch-all. Further complicating matters is Article 35A(c), providing for fines (again, maximum $ 1 m) specifically for statements prejudicial or detrimental to the best interests of the team, league, or basketball. That also seems to cover this situation–Sterling obviously said things contrary to the best interests of the NBA–again making resort to Article 24(l) inappropriate.
Second, and related: Why did Silver rely on Article 35A(d) for conduct prejudicial or detrimental rather than Article 35A(c) for a statement prejudicial or detrimental? Presumably because (c) does not allow for suspension, while (d) does. But Sterling is unquestionably being punished for statements, not conduct (whatever his racist views, he was not punished for acting on his views or operating his team in a way that implemented those views). While a provision prohibiting conduct could, standing alone, also reach statements, that argument does not work when there are distinct provisions, one regulating conduct and one regulating speech. Did the NBA Constitution intentionally set-up a situation in which conduct could be the basis for a suspension but statements only for a fine? If so, perhaps this means the suspension is improper.
Note that my analysis presumes a certain exclusivity–Article 24(l) by its terms cannot be in play if a different provision is; Article 35A(d) cannot be used to regulate statements because 35A(c) already does, so 35A(d) must only reach non-statement conduct. Perhaps Silver would argue–and an arbiter would accept–that all of the provisions together allow for this range of punishments, just as prosecutors often pursue overlapping charges. But that would involve an odd form of statutory interpretation in this case and would render many provisions of the NBA’s Constitution & By-Laws superfluous. "
http://www.law.com/sites/howardwasserman/2014/04/30/sterling-silver-and-statutory-interpretation-on-the-nbas-punishment-of-donald-sterling/?slreturn=20140330222019
If the NBA is not careful, this thing could go on and on and on... They could end up biting off their noses spite their faces. See post 73 for more legal analysis.
And what is all that stupid crap supposed to mean?
It would also be interesting to see a copy of the NBA Constitution and Bylaws in effect when Sterling bought the Clippers. If he did not vote in favor of any of the changes, it is likely that he is not bound by those changes.
I suspect that sometime in the future, this case will be a topic in a law school contracts course.
2. Sterling suing may lead to pretrial discovery, which could be designed in part to embarrass other owners and NBA officials of any bigoted remarks or beliefs on their part. Keep in mind, if Sterling is ousted because of racism, he would likely demand that evidence showing that other owners and officials are also racist be shared. He would use such information to portray his penalty as unwarranted and contradicted by the conduct of those who ousted him. Sterling might request emails and other records from owners and officials that depict them in a negative light. Sterling has owned the Clippers for 33 years, which suggests that he has had many interactions -- including private conversations with league officials and owners. If there are other owners who are racist or bigoted, it stands to reason Sterling knows who they are.
__________________________________________________________________________________
This is why Sterling should sue. There is indeed racism in the NBA. Black racism. From Jay Z and his anti-white medallion to Shaq and Charles Barkely and their on the air comments to many examples of favortism to blacks over whites and more. Much More.
Sterling is a victim here. Yes, he is a sleaze and I want nothing to do with him, but just as they went after Sterling, Bundy and Eich; they are coming for me and those like me who dare to speak against their hatred.
If Mr. Silver or any other ass-bite tried to force me into taking a $329,000,000.00 tax loss, I’d sue the bejeebers out of them.
Sterling is over 80 anyway. He’ll be dead before the suits could be settled.
:)
It was just my way of saying not to worry about nickcarraway.
He was just, ‘trolling’, through the thread anyway.
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