Bill Haslam set to join Predators ownership group

[PredsV82]

Not sure how far along the Haslam deal is but this won't be a good look for Bettman

MSN

www.msn.com

Obviously is civil not criminal at this point and is part of a big lawsuit/countersunk between BH and the Haslams so I doubt it's a deal breaker but if true and this gets much publicity it will look bad for Haslam

 

[nine_inch_fang]

Not sure how far along the Haslam deal is but this won't be a good look for Bettman

MSN

www.msn.com

Obviously is civil not criminal at this point and is part of a big lawsuit/countersunk between BH and the Haslams so I doubt it's a deal breaker but if true and this gets much publicity it will look bad for Haslam

Jimmy is the only one named in the filing. I wonder if Bill didnt know and can keep his name out of it or if he knew and just wasn't named yet.

 

[Predsanddead24]

Not sure how far along the Haslam deal is but this won't be a good look for Bettman

MSN

www.msn.com

Obviously is civil not criminal at this point and is part of a big lawsuit/countersunk between BH and the Haslams so I doubt it's a deal breaker but if true and this gets much publicity it will look bad for Haslam

Pilot Flying J and the Haslams doing a bunch of shady stuff isn't really news. They had that rebate fraud scheme a few years back too. I didn't think Bill had much to do with the operation of the company though.

 

[triggrman]

It's a counter suit, likely designed to hurt the original lawsuit the Haslam's filled against Buffett.

 

[adsfan]

Absolutely has that kind of money. Pilot is one of the biggest truck stops in the country. A big chunk is also scheduled to be sold off to Berkshire Hathaway in 2023.

I believe his daughter is also married to Rob McCabe, founder of Pinnacle, so I imagine he’s got some stake in that as well.

I actually like this. He wanted to buy the Titans a few years ago. I like one local guy owning the majority of the team.

I thought that I recently read that Warren Buffet was suing Pilot for some kind of misrepresentation.

Note: I could be WRONG about that. I believe that it was in my local paper, which is part of the USA Today chain (Gannett).

 

[triggrman]

I thought that I recently read that Warren Buffet was suing Pilot for some kind of misrepresentation.

Note: I could be WRONG about that. I believe that it was in my local paper, which is part of the USA Today chain (Gannett).

The Haslam's are suing Buffet and Buffet has filed a countersuit. They claim he changed the way the accounting was done and backdated to drive down the buyout numbers, Buffet claims they bribed exec to drive the price up.

 

[adsfan]

The Haslam's are suing Buffet and Buffet has filed a countersuit. They claim he changed the way the accounting was done and backdated to drive down the buyout numbers, Buffet claims they bribed exec to drive the price up.

I am always amazed that accounting methods seem to vary from company to company in the US.
You would think this kind of thing happens frequently in Russia.

I knew an accountant. I worked with a lady whose parents are both accountants. One for the state of Wisconsin and the other for a major hospital in my area. You would think that accountants all learn the same things in college, right? I appreciate that non-profits are different from GM and Amazon.

 

[Adz]

I am always amazed that accounting methods seem to vary from company to company in the US.
You would think this kind of thing happens frequently in Russia.

I knew an accountant. I worked with a lady whose parents are both accountants. One for the state of Wisconsin and the other for a major hospital in my area. You would think that accountants all learn the same things in college, right? I appreciate that non-profits are different from GM and Amazon.

It isn't that they study different things, companies are just set up differently and you do the appropriate accounting for that type of set up. Cash is different from accrual, an S Corp is different from a Sole Proprietorship or LLC and those different from a C Corp or a partnership. The type of business may allow for varying ways of closing the books and different fiscal years. My friend kept talking about closing out short and long months when he worked in the restaurant business. Then you have the difference between a bookkeeper (like me) who keeps up with stuff all year but sends it to a CPA at tax time. The goals for the type of business based on the accounting method can be very different from another.

 

[adsfan]

It isn't that they study different things, companies are just set up differently and you do the appropriate accounting for that type of set up. Cash is different from accrual, an S Corp is different from a Sole Proprietorship or LLC and those different from a C Corp or a partnership. The type of business may allow for varying ways of closing the books and different fiscal years. My friend kept talking about closing out short and long months when he worked in the restaurant business. Then you have the difference between a bookkeeper (like me) who keeps up with stuff all year but sends it to a CPA at tax time. The goals for the type of business based on the accounting method can be very different from another.

I appreciate the post Adz.

I used to work with a guy that had a S Corp. In the summers, he was a pro fisherman. He told me that he "had to make money 3 out of every 5 years to continue." or the IRS would call it a hobby.

My brother was or is a consulting QC expert and Reliability Engineer. He never seems to truly retire. He used to file estimated quarterly taxes. He is the only person that I know who does it that way.

 

[Adz]

I appreciate the post Adz.

I used to work with a guy that had a S Corp. In the summers, he was a pro fisherman. He told me that he "had to make money 3 out of every 5 years to continue." or the IRS would call it a hobby.

My brother was or is a consulting QC expert and Reliability Engineer. He never seems to truly retire. He used to file estimated quarterly taxes. He is the only person that I know who does it that way.

Anyone who is a freelancer SHOULD be filing quarterly taxes after the first year. If you don't, you can be hit with penalties and you have to pay it all at once which can be difficult. We use a lot of freelance labor in the animating business and I remind them to do this. With the young ones a lot of times we would have to pay them in advance at tax time just so they could pay their taxes. But most of them learn.

My "old" company is being bought. We were an S Corp and that is true about having to make money. BUT, the way S corps run, you also have to zero the company out every year, so you have to walk a very fine line. I won't get into all the ins and outs of that. The new company is a single owner LLC and has to file quarterly estimated taxes, but the taxes are based on more than just what our company does. Honestly with this, I'm glad I'm "just" a bookkeeper!