|
|
Post by rock on Jul 30, 2002 18:29:17 GMT -5
nah, it happened a few years ago.
basically this deaf ball boy for the lakers was being let go for salary reasons (he barely made anything). shaq heard about this and has paid for his salary out of his own pocket ever since.
|
|
catcalls
Monte Towe Benchwarmer
Posts: 26 
|
Post by catcalls on Jul 30, 2002 18:46:52 GMT -5
Lest there be any confusion, Shaq's foray into "affordable housing" is not exactly a charitable cause. There are strong tax and other incentives that make these deals very attractive to investors.
|
|
|
|
Post by rock on Jul 30, 2002 18:49:23 GMT -5
Lest there be any confusion, Shaq's foray into "affordable housing" is not exactly a charitable cause. There are strong tax and other incentives that make these deals very attractive to investors. sounds eerily like markus opening a door for a hot chick. |
|
markus
Joe Wolf Towel Boy
Posts: 233
|
Post by markus on Jul 30, 2002 20:20:57 GMT -5
Lest there be any confusion, Shaq's foray into "affordable housing" is not exactly a charitable cause. There are strong tax and other incentives that make these deals very attractive to investors. sounds eerily like markus opening a door for a hot chick. So let me get this straight...could I make "affordable housing" available to underprivileged yet attractive females AND receive tax incentives for doing so? Nice. This is really gonna help out my new website. Quality webcams ain't cheap, ya know! |
|
mmiller
Joe Wolf Towel Boy
a flagrant breach of forum decorum
Posts: 144
|
Post by mmiller on Jul 30, 2002 20:42:15 GMT -5
|
|
Nuggets4
Monte Towe Benchwarmer
Posts: 27
|
Post by Nuggets4 on Jul 31, 2002 0:08:11 GMT -5
Speaking of guys who could fill up a room, N4, did I ever tell you about my first interview with Ralph Sampson? I don't believe so. Do tell. |
|
catcalls
Monte Towe Benchwarmer
Posts: 26
|
Post by catcalls on Aug 1, 2002 12:31:49 GMT -5
I don't believe so. Do tell. I was a rookie scribe, covering a Nuggets-Rockets game at McNichols. Sampson was coming off of a 30-20 game against Kareem and the Lakers, but Dan Issel used and abused him to the tune of about 30 points. Unaware of Sampson's reputation for surliness, I approached him with a couple of brilliant questions: Dumb Scribe: "Ralph, are you more comfortable playing against Kareem than against Issel, or was tonight just 'one of those nights?'" Surly Ralph: "Yeah." Dumb Scribe: "Sorry, that was a bad question because I wasn't really looking for a yes or no answer. I'd just like your thoughts on what makes it difficult to defend against a guy like Issel as opposed to a more traditional, low-post center." Surly Ralph: "Uh-huh." Dumb Scribe: "Let me make sure I'm quoting you accurately, Ralph. That was 'yeah,' and 'uh-huh,' right? Surly Ralph: "Get the f**k out of here." Anyhooo ... here's a follow-up to the Shaq story. Shaq is not, as was reported in the media, the general partner of the entity that purchased all of the affordable housing units this week. The general partner is an investment bank out of Boston, and Shaq's involvement is indirect and modest. His presence at the closing was not required, unless you consider puff-puff publicity a requirement. Also, apart from the tax incentives for owners of "affordable housing," the reality is that the federal government pays the owners the difference between the rent caps and market rates. I have nothing against Shaq, but don't be fooled by his attempt to portray this business endeavor as being tantamount to charity. |
|
Nuggets4
Monte Towe Benchwarmer
Posts: 27
|
Post by Nuggets4 on Aug 1, 2002 15:51:13 GMT -5
LOL!!!! Gotta love it. Some of the players in the NBA are awful when it comes to answering questions. At least he didn't try to hide in the trainer's room like Kobe does.
|
|
|
|
Post by TNF on Aug 1, 2002 15:57:13 GMT -5
Cool Sampson story.
Did I ever tell you guys the story of when I was going to be a Nuggets' "stringer", which is sort of an assistant to a reporter?
This guy named Rich Beall was the sports guy at KYGO...might still be...who cares.
I had known him indirectly for years, and at an event downtown we started talking Nuggets. He was shocked I knew as much as I did and that I cared as much as I did (this was after Mutombo's first season...a Westhead year?) He offered me free tickets to games on the days he couldn't go, and to sit in press row, if I was willing to go into the locker room afterwards and interview the players. I was thrilled with this opportunity, even if it was unpaid. However, somehow my job at the time didn't qualify (I guess he thought I was a doctor or a lawyer), so he backed away and wouldn't even return my calls. I was in retail management...too lowbrow for that worthless @&$%@.
Anyway...
|
|
|
|
Post by Spine 3 on Aug 1, 2002 16:13:54 GMT -5
These housing programs are affordable housing programs. In a nut shell they are called Low Income Housing Tax Exempt Programs.
Alot of large Wall Street investors develop these apartments b/c they have stable and attractive returns. Usually 80% - 100% of all tenants must have gross incomes less than 40-50% of the median income for that region. Rents are set at with a maximum amount as dictated by the state and average incomes for the respective region.
In return investors get around a 8% tax credit of the total cost of the project. 10 million gets an $800,000
tax credit. These are usually sold off independantly in wall street. Rents received from these apartments are enough to pay the loans and management company.
The apartments themselves are suspect. Although they are new in age and have adequate ammentities as required by the governing state agencies, they are often built poorly and there is little incentive from the owner or management company to maintain these properties properly.
Based on Shaq's huge income from the NBA, investments, and endorsements, I would bet he is using any tax credits for himself.
|
|
|
|
Post by fats on Aug 1, 2002 16:21:26 GMT -5
wow, thanks catcalls and spine. interesting stuff.
|
|
|
|
Post by TedderTots on Aug 1, 2002 16:57:20 GMT -5
Spine - interesting - but how does it affect our salary cap situation??  |
|
leon_d
Joe Wolf Towel Boy
"I'll have a banana muffin" - Dikembe Mutombo
Posts: 203
|
Post by leon_d on Aug 1, 2002 17:58:03 GMT -5
as if anyone does anything altruistic these days anyway.
I'd be interested to know whether Shaq first heard about the tax credits and thought "Well that'll be a prudential decision"
Or he was thinking from the social value POV and the tax credits were an added bonus.
|
|
|
|
Post by rock on Aug 1, 2002 18:07:07 GMT -5
as if anyone does anything altruistic these days anyway. wrong. markus opens doors for hot chicks. |
|
leon_d
Joe Wolf Towel Boy
"I'll have a banana muffin" - Dikembe Mutombo
Posts: 203
|
Post by leon_d on Aug 1, 2002 18:12:30 GMT -5
yeah... but that's not *completely* atruistic.
He's always thinking he'll be getting a little something in return... apparently
|
|
|
|
Post by rock on Aug 1, 2002 18:22:43 GMT -5
yeah... but that's not *completely* atruistic. He's always thinking he'll be getting a little something in return... apparently guess i didnt lay the sarcasm on thick enough. |
|
leon_d
Joe Wolf Towel Boy
"I'll have a banana muffin" - Dikembe Mutombo
Posts: 203
|
Post by leon_d on Aug 1, 2002 20:46:42 GMT -5
my bad, rock...  it's just one of those frigging mornings. |
|
