Home
we had subs it was crazy

Primary links

  • About
    • $upport (lol)
    • Ethics
    • FAQ
    • Privacy Policy
  • Contact
  • MGoStore
  • MGoBoard
    • MGoBoard FAQ
    • Ticket spreadsheet
    • Michigan bar locator
    • Moderator Action Sticky
  • Useful Stuff
    • Depth Chart By Class
    • Unofficial Two Deep
    • 2013 Offer Board
    • Crude Bug Tracking System
    • Third Down Stats
    • Diaries, Windows Live Writer, And You
    • Michigan Future Schedules
    • User-Curated HOF
    • 2013 Recruiting Board
    • Where To Eat In Ann Arbor
Home Forums MGoBoard

Navigation

  • Forums
  • Recent posts

User login

  • Create new account
  • Request new password

MGoElsewhere

  • @MGoBlog (Brian)
  • @aceanbender
  • @TomVH (Tom)
  • RSS Feed
  • iPhone App
  • Facebook profile
  • MGoKindle Store
  • mgo.licio.us
  • Brian @ TSB [Archive]
  • Brian @ AOL [Archive]
  • Sour Salty Bitter Sweet

Michigan Blogs

  • Big House Blog
  • Burgeoning Wolverine Star
  • Genuinely Sarcastic
  • Go Blue Michigan Wolverine
  • Holdin' The Rope
  • MGoFootball
  • MVictors
  • Maize 'n' Blue Nation
  • Maize 'n' Brew
  • Maize And Go Blue
  • Michigan Hockey Net
  • The Blog That Yost Built
  • The Hoover Street Rag
  • The M Block
  • The M Zone
  • The Wolverine Blog
  • Touch The Banner
  • UMGoBlog
  • UMHoops
  • UMTailgate
  • Wolverine Liberation Army

M On The Net

  • mgovideo
  • MGoBlue.com
  • Mike DeSimone
  • Recruiting Planet
  • The Wolverine
  • Go Blue Wolverine
  • Winged Helmet
  • UMGoBlue.com
  • MaizeRage.org
  • Puckhead
  • The M Den
  • True Blue Fan Forum

Big Ten Blogs

  • Illinois
    • A Lion Eye
    • Hail To The Orange
    • Illinois Baseball Report
    • Illinois Loyalty
  • Indiana
    • Inside The Hall
    • The Crimson Quarry
  • Iowa
    • Black Heart, Gold Pants
    • Fight For Iowa
  • Michigan State
    • The Only Colors
  • Minnesota
    • GopherHole.com
    • The Daily Gopher
    • I'm In Love With A Fringe Bowl Team
    • TNABACG
  • Nebraska
    • Big Red Network
    • Corn Nation
    • Husker Mike's Blasphemy
    • Husker Gameday
  • Northwestern
    • Sippin' On Purple
    • Lake The Posts
  • Notre Dame
    • The House Rock Built
    • One Foot Down
  • Ohio State
    • Eleven Warriors
    • Buckeye Commentary
    • Men of the Scarlet and Gray
    • Our Honor Defend
    • The Buckeye Nine
  • Penn State
    • Slow States
    • Black Shoe Diaries
    • Happy Valley Hardball
    • Penn State Clips
    • Linebacker U
    • Nittany White Out
  • Purdue
    • Boiled Sports
    • Hammer and Rails
  • Wisconsin
    • Bruce Ciskie

Links of Note

  • Baseball
    • Big Ten Hardball
    • College Baseball Today
    • The Baseball Zealot
    • The College Baseball Blog
  • Basketball
    • Ken Pomeroy
    • Basketball Prospectus
    • Midmajority
  • College Hockey
    • Chris Heisenberg
    • College Hockey Stats
    • Inside College Hockey
    • Michigan College Hockey
    • Hockey's Future
    • Sioux Sports
    • USCHO
    • Western College Hockey
    • CCHA
      • LSSU Hockey
      • Bronco Hockey Blog
  • Football
    • Smart Football
    • Every Day Should Be Saturday
    • Doctor Saturday
    • CFB Stats
    • Harold Stassen
    • NCAA D-I Stats Page
    • The Wizard Of Odds
  • General
    • Sports Central
  • Local Interest
    • The Ann Arbor Chronicle
    • Arborwiki
    • Arbor Update
    • Teeter Talk
    • Vacuum
  • Teams Of The D
    • Lions
      • Pride of Detroit
      • Fire Millen
    • Pistons
      • Detroit Bad Boys
      • Need4Sheed
    • Tigers
      • Roar Of The Tigers
      • The Detroit Tigers Weblog
      • The Daily Fungo
    • Red Wings
      • On The Wings
      • Behind The Jersey
      • Winging It In Motown
    • Michigan Sports Forum

Archive

  • May 2013 (55)
  • April 2013 (94)
  • March 2013 (104)
  • February 2013 (81)
  • January 2013 (93)
  • December 2012 (74)
  • November 2012 (142)
  • October 2012 (143)
  • September 2012 (107)
  • August 2012 (103)
  •  
  • 1 of 11
  • ››

Get Yer Tickets

Football Display Case

NFL Watches

Follow your favorite team with localtv-satellite.com: Click Here.

Site Search

Diaries

  • New
  • Popular
  • Hot
  • Does Expansion Actually Lead to More Recruits From a Certain Region?
    maizeonblueaction - 1 day ago
  • Raiding the B1G-er Big Ten: Recruiting Prospects in Maryland and Rutgers Territory
    The Mathlete - 2 days ago
  • A Cynical Take on Why Expansion May be Dead for the Forseeable Future
    maizeonblueaction - 3 days ago
  • LIGHT IT UP, AGAIN. WALLPAPER
    jonvalk - 4 days ago
  • Using Rivals' Star Ratings To Look At Big Ten Football Recruiting: 2002-2013
    LSAClassOf2000 - 4 days ago
  •  
  • 1 of 4
  • ››
more
  • Using Rivals' Star Ratings To Look At Big Ten Football Recruiting: 2002-2013
    LSAClassOf2000 - 954 views
  • UMich NFL draft history, Part III
    blueheron - 791 views
  • LIGHT IT UP, AGAIN. WALLPAPER
    jonvalk - 764 views
  • A Cynical Take on Why Expansion May be Dead for the Forseeable Future
    maizeonblueaction - 647 views
  • Raiding the B1G-er Big Ten: Recruiting Prospects in Maryland and Rutgers Territory
    The Mathlete - 642 views
  •  
  • 1 of 2
  • ››
more
  • Big Ten Recruiting Rankings 4-30-13
    Ace - 81 comments
  • Using Rivals' Star Ratings To Look At Big Ten Football Recruiting: 2002-2013
    LSAClassOf2000 - 19 comments
  • A Cynical Take on Why Expansion May be Dead for the Forseeable Future
    maizeonblueaction - 18 comments
  • LIGHT IT UP, AGAIN. WALLPAPER
    jonvalk - 17 comments
  • Raiding the B1G-er Big Ten: Recruiting Prospects in Maryland and Rutgers Territory
    The Mathlete - 13 comments
  •  
  • 1 of 2
  • ››
more

MGoBoard

  • New
  • Recent
  • Hot
  • Help Finding Great Video Clips
    3 replies
  • Friday night drinking thread
    24 replies
  • OT: The Tigers game is very interesting
    95 replies
  • Michigan wrestlers accused of Molotov cocktail possession suspended indefinitely
    56 replies
  • Who's Your Favorite Michigan QB?
    169 replies
  • Softball Super Regional v. Louisiana-Lafayette, game 1
    53 replies
  • Sam Webb write up on five-star center Elijah Thomas
    15 replies
  • There should be 110,000 Rubber Chickens at the ND Game
    37 replies
  • OT- Miguel Cabrera is good at baseball, visual proof
    35 replies
  • Michigan/Minnesota football - Oct 5 - 330 pm EST
    17 replies
  • Memorial Day Weekend (here for the) posbang thread
    110 replies
  • The Official SIAP Alan Branch Photoshop Thread
    35 replies
  • Which Pay Site Is Best?
    62 replies
  • OT: Star Trek + Dilithium = Esplode…. Esplode clarity
    26 replies
  • OT - ND paid Charlie more than Brian Kelly in 2012
    36 replies
  •  
  • 1 of 6
  • ››
  • Help Finding Great Video Clips
    3 replies
  • Sam Webb write up on five-star center Elijah Thomas
    15 replies
  • OT: The Tigers game is very interesting
    95 replies
  • Who's Your Favorite Michigan QB?
    169 replies
  • Scouting Report: Jabrill Peppers
    160 replies
  • Friday night drinking thread
    24 replies
  • Speight and TomVH on Peppers
    117 replies
  • OT: Real Estate / Renting / Land Contract gurus
    43 replies
  • Initial 2015 Top247 Released
    54 replies
  • Michigan wrestlers accused of Molotov cocktail possession suspended indefinitely
    56 replies
  • Mark May Trolls Ohio State Again, Buckeyes Fans Let Him Have It On Twitter
    39 replies
  • Michigan/Minnesota football - Oct 5 - 330 pm EST
    17 replies
  • The Official SIAP Alan Branch Photoshop Thread
    35 replies
  • There should be 110,000 Rubber Chickens at the ND Game
    37 replies
  • Which Pay Site Is Best?
    62 replies
  •  
  • 1 of 6
  • ››
  • OT: Red Wings vs Hawks Game 3 Open Thread
    203 replies
  • OT: Red Wings vs Hawks Game 4 Open Thread
    193 replies
  • Who's Your Favorite Michigan QB?
    169 replies
  • Scouting Report: Jabrill Peppers
    160 replies
  • OT - Official MGoBaby Thread (you got 'em, we want to see 'em)
    151 replies
  • Who should replace ND in a long-term series?
    146 replies
  • How much do you really hate ohio?
    146 replies
  • OT? Graduatin' Season. Who had the Worst Commencement Speaker?
    141 replies
  • Speight and TomVH on Peppers
    117 replies
  • OT: Red Wings @ Hawks Game 2 Open Thread
    114 replies
  • Prayers for Moore, Oklahoma
    112 replies
  • Memorial Day Weekend (here for the) posbang thread
    110 replies
  • OT: The Tigers game is very interesting
    95 replies
  • 5 star 2013 DT may not be enrolling at Notre Dame
    93 replies
  • OT: NBA Draft Lottery
    78 replies
  •  
  • 1 of 6
  • ››

mgo.licio.us

  • Burke says Michigan can be 'just as good' next year with McGary, Robinson III leading

    yes plz

    0 comments
  • SEC coaches with tiny faces

    I don't think they changed Les at all actually

    1 comments
  • This college baseball team is the best at postgame interviews

    national champs baby

    1 comments
  • Rounding up the latest in NCAA absurdities.

    Patrick Hruby is doing God's work.

    0 comments
  • Cornell wrestler tops Michigan's Trey Burke for Sports Illustrated award | The Detroit News | detroitnews.com

    first comment: "EVERY ATHLETE HAS ASPIRATIONS OF WINNING AND WE HAVE OUR FAVORITES BUT IT IS ALWAYS A PLEASURE TO OTHER STUDENTS ACHIEVE THEIR GOALS, TOO!"

    0 comments
  • Burke hearing he'll go two through six in NBA draft

    stupid Pistons and their refusal to tank properly

    0 comments
  • 2013 NHL Draft Prospect: Andrew Copp

    rundown of Michigan's riser

    0 comments
  • Michigan's key returnee: Glenn Robinson

    needs moar usage

    0 comments
  • Former Arkansas QB Brandon Mitchell transferring to NC State

    so much for that

    0 comments
  • The B1G List: Ranking the State Fossils of the Big Ten

    This list is completely arbitrary and not a genuine analysis of the relative merits of state fossils.

    0 comments
  • Trey Burke turns to inner circle to prepare for NBA draft

    will be michigan's highest pick in a while

    2 comments
  • B1G assistant coach salaries on the rise

    money has to go somewhere

    0 comments
  • Tim Hardaway Jr. is motivated by his critics and doubters, and supremely confident in his ability

    I am only motivated by people who have no opinion about me.

    0 comments
  • Big Ten football procrastinates on parity-based scheduling, and nothing ever changes

    the just released schedules were a flat-out statement that the B10 doesn't believe SOS will matter in playoff selection

    1 comments
  • Michigan's Glenn Robinson III, Mitch McGary ranked inside top 20 on ESPN's 2014 draft board

    but I thought that draft was supposed to be incredibly loaded?

    1 comments
  •  
  • 1 of 2
  • ››
more

Wilpon loses "tens of millions" in fund scam

8 posts / 0 new
Login or register to post comments
Last post
December 14th, 2008 at 10:45 PM
#1
MBAgoblue
MBAgoblue's picture
Joined: 07/09/2008
MGoPoints: 1570
Wilpon loses "tens of millions" in fund scam

Fred Wilpon, Michigan alum, owner of the NY Mets and major donor to the Michigan baseball and softball programs, is exposed to the Madoff hedge fund scandal to the tune of tens of millions:

http://online.wsj.com/article/SB122914169719104017.html

"Mets owner Mr. Wilpon, who also owns real-estate investor Sterling Equities, often raved about Mr. Madoff's investment prowess and invested tens of millions of dollars of both his own money and the team's with his company, say financiers who have worked with him. Mr. Madoff handled investments for the Judy & Fred Wilpon Family Foundation, which distributed about $1 million a year in 2005 and 2006 to charities, according to its most recent federal tax returns."

I wonder if this will impact other capital improvements such as the Crisler renovation. In any case, be glad we got the improvement to the baseball/softball facility a few years ago.

2011 Totals: 3 Cracker Jack, 1 Mike & Ike, 0 Candy Corn.

Top
  • Login or register to post comments
Tags:
  • MGoBoard

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
December 14th, 2008 at 10:54 PM | and in other news.... (Score:1)
Moe Greene
Moe Greene's picture
Joined: 08/01/2008
MGoPoints: 2133

Prices for hotdogs at the new CitiField have been announced at $47.50. Vistors to CitiField wishing to purchase beer at Mets home games must have their credit pre-approved prior to purchase...

No radio. Nothing of value.

  • Login or register to post comments
December 14th, 2008 at 11:38 PM | I know Fred pretty well - he (Score:1)
sleepdoc
Joined: 11/22/2008
MGoPoints: 0

I know Fred pretty well - he was an LP in our firm. He really got jobbed like quite a few wealthy michigan Alum (the Ross family, and Sam Zell to name a few) - Madoff defrauded a lot of people. They could never explain any part of their fund, other than returns and the fact that it was closed ended - effectively making it invite only. I listened to the presentation once, and there was no actual asset that they invested in.

To the point at hand, Sam Zell heading towards bankruptcy is going to hurt Crisler a lot more. Most of the money has already been allocated for Crisler but there are a few huge donors who are facing capital calls - which could be a real problem.

  • Login or register to post comments
December 14th, 2008 at 11:58 PM | Amazing (Score:1)
MBAgoblue
MBAgoblue's picture
Joined: 07/09/2008
MGoPoints: 1570

That some of the most successful, savvy investors in the world were taken in by this guy. I know that lots of investors on the east coast are not very happy right now - which does not bode well for charities as well as Crisler. Let's see if the Shea scoreboard makes it to Ann Arbor, as Fred Wilpon once mentioned he wanted to do.

I was amazed that Sam Zell invested in the Tribune company at all, to be frank. I took a class at Ross from Sam's longtime COO and from what he told us, it seemed the Tribune purchase didn't seem to fit the Zell formula.

2011 Totals: 3 Cracker Jack, 1 Mike & Ike, 0 Candy Corn.

  • Login or register to post comments
December 15th, 2008 at 12:28 AM | It doesn't at all - you're (Score:1)
sleepdoc
Joined: 11/22/2008
MGoPoints: 0

It doesn't at all - you're right. Sam hates leverage - most of his real estate deals have always been heavy cash. He made a ton of money off the last real estate bubble investing in residential apartments. If he can survive this, he will go right back to that pattern. It's a shame because he is a great guy, like most U of M alumni donors I have had the privilege to meet and know. But everyone was telling him to leverage and he eventually was swayed. He has wanted the Tribune forever, and paid heavy leverage to beat Blackstone to the punch. Problem is newspaper print ads are losing revenue faster than you can imagine. Increasing share of a decreasing market - down the tubes. Sam is a great guy and all Ross grads should try to reach out to him because he really makes time for Michigan alum.

I'll ask Fred the next time I see him but my suspicion is the Shea scoreboard is 50/50 at best now to make to A2. This is a bad situation as he might have to sell his ownership interest to cover his capital call. The problems are just beginning.

  • Login or register to post comments
December 15th, 2008 at 6:35 AM | That is... (Score:1)
umfan
umfan's picture
Joined: 06/30/2008
MGoPoints: 130

That is very off the topic of Michigan football. I wish people would put OT in front of the title.

UMfan. GO BLUE

  • Login or register to post comments
December 15th, 2008 at 9:33 AM | I disagree (Score:1)
Other Chris
Other Chris's picture
Joined: 06/30/2008
MGoPoints: 1205

This site's title says "Michigan football, basketball, hockey, and general what-have-you." This falls directly into the general what-have-you and is a hell of a lot more topical than Angelina Jolie or the MSU credit union.

As soon as I read the NYTimes yesterday, I was curious how this was going to play out for the university. I'm disheartened to learn that it's worse than I even thought.

  • Login or register to post comments
December 15th, 2008 at 10:59 AM | What a waste! (Score:1)
Skapanza
Skapanza's picture
Joined: 07/10/2008
MGoPoints: 181

Were several of your precious moments lost in the reading of those few lines of text?

  • Login or register to post comments
Powered by Pressflow, an open source content management system
Theme provided by Roopletheme; sidebars adapted from Chris Murphy.