CNBC's American Greed: Frozen Assets

[DoyleG]

Frozen Assets – The Ice Capers

The show will have a segment dealing with Del Biaggio and his connections to the NHL. It will be on Wednesday @ 10pm PST.

The Venture Capitalist
William “Boots†Del Biaggio is a Silicon Valley success. He lives a lavish lifestyle complete with luxury homes, expensive cars and high-rolling gambling trips to Las Vegas. The hometown boy seems to have it all.

The Hockey Team
Del Biaggio is a smart and savvy businessman but his true passion is hockey. He’s a minority owner in the San Jose Sharks. He enjoys the benefits – club seats, access to suites and meetings with the athletes. But “Boots†wants more.

The Investment Opportunity
Del Biaggio dreams of owning an NHL team. Opportunity knocks. He is asked to join a group of investors trying to buy the Nashville Predators. To get a piece of the action, he needs $25 million. There’s one problem: Biaggio doesn’t have the money.

The Scam
He devises a scheme to secure loans from creditors using falsified bank statements. How far will Del Biaggio go to realize his dream?

American Greed with the inside story of a Silicon Valley venture capitalist who defrauds lenders out of $100 million!

Click to read more...

 

[MAROONSRoad]

Frozen Assets – The Ice Capers

The show will have a segment dealing with Del Biaggio and his connections to the NHL. It will be on Wednesday @ 10pm PST.

Sweet! I'll try to watch that. Thanks.

GHOST

 

[danishh]

seems interesting, hopefully they put a vid up of it because i doubt i'm going to watch it at 1AM local here.

 

[leoleo3535]

How can this be?

He was handpicked and approved by GB.

 

[Killion]

I had to check the time, date & year here. I applaud CNBC, must watch TV, but c'mon here. Where were they like, a year or two ago when he was sentenced, or better yet, beforehand?....

 

[Skarjak]

You have to admit that this is perfect timing.

 

[paulsonj72]

It also (I believe ) airs at 10 PM ET. Usually shows like that air at the same time as they will say(for example) 10 PM ET and PT

 

[Killion]

You have to admit that this is perfect timing.

Ya. Real nice bookend to the nonsense going on in Arizona.

 

[Gnashville]

How can this be?

He was handpicked and approved by GB.

He was not!! But don't let the facts get in the way of a good anti-Bettman rant. That's what fraud is he lied to the NHL, his "partners" here, and mutiple banks.

 

[Elyoric]

Greed can exist in anyone, titling this "American Greed" belies CNBC's "objectivism". I'd double and triple check any purported "facts" coming out of this.

 

[DoyleG]

The program is produced by Kurtis Productions, not CNBC.

 

[Brodie]

Greed can exist in anyone, titling this "American Greed" belies CNBC's "objectivism". I'd double and triple check any purported "facts" coming out of this.

no ****, greed can "come out of anywhere". The show is about the actions that lead to the financial crisis in the US, not some liberal nonsense about Americans being more greedy than anyone else.

 

[He Lied to Mario]

How can this be?

He was handpicked and approved by GB.

I guess you selectively forgot that DelBaggio was already a minority owner with the San Jose Sharks before he invested in Nashville.

 

[obsenssive*]

As an American Greed junkie (seen every episode) I thought it was OK. it was only a half slot which is typical for pieces which don't go into detail about beginnings and personal aspects and so on, and thats fine, but couple with the fact that the scheme wasn't impressive and there wasn't many characters to consider, it felt like it could have been 10 minutes instead of 23.

regarding the actual circumstances, when did DelBaggio sell off his 2% in the sharks? and do any sharks or preds fans know of any "on-the-ground" involvement he had with the teams? eg. going to games, doing interviews/media, interacting with local fans, etc...

 

[LadyStanley]

regarding the actual circumstances, when did DelBaggio sell off his 2% in the sharks? and do any sharks or preds fans know of any "on-the-ground" involvement he had with the teams? eg. going to games, doing interviews/media, interacting with local fans, etc...

Months before he was confirmed as owner with Nashville. (Bought out by other members of ownership group.)

I recall seeing his name (along with other owners, including former SJ Mayor McEnery), but CEO/Pres/owner Jamison was the "ownership" face of the team.

 

[obsenssive*]

Months before he was confirmed as owner with Nashville. (Bought out by other members of ownership group.)

I recall seeing his name (along with other owners, including former SJ Mayor McEnery), but CEO/Pres/owner Jamison was the "ownership" face of the team.

ok.

something I didn't understand was why exactly he became the 2% owner of the sharks. what is the purpose of such a small stake? the team didn't have ownership troubles (at least I think not) so I don't really get it. it came across from the ep. as almost a social invitation by the ownership group instead of a business move.

 

[LadyStanley]

ok.

something I didn't understand was why exactly he became the 2% owner of the sharks. what is the purpose of such a small stake? the team didn't have ownership troubles (at least I think not) so I don't really get it. it came across from the ep. as almost a social invitation by the ownership group instead of a business move.

George Gund wanted to reduce his ownership stake, and that's when the partnership of a dozen folks was put together. (I'm blanking on the partnership name at the moment, Blue-something, maybe. They actually own SVSE which is the holding company for the Sharks, the AHL franchise, SAP Open, SVSE Merchandising, operate Sharks Ice facilities -- three in CA, one in MA, one under contraction in CA, etc.)

AFAIK, Boots was asked to participate in the group due to his connection with Heritage Bank.

 

[kdb209]

George Gund wanted to reduce his ownership stake, and that's when the partnership of a dozen folks was put together. (I'm blanking on the partnership name at the moment, Blue-something, maybe. They actually own SVSE which is the holding company for the Sharks, the AHL franchise, SAP Open, SVSE Merchandising, operate Sharks Ice facilities -- three in CA, one in MA, one under contraction in CA, etc.)

AFAIK, Boots was asked to participate in the group due to his connection with Heritage Bank.

Blue Line Ventures.

San Jose Sharks sold
Silicon Valley / San Jose Business Journal
Date: Tuesday, February 26, 2002, 2:55pm PST
Related News

A group of local investors called San Jose Sports & Entertainment Enterprises has bought the National Hockey League San Jose Sharks, the team announced Tuesday morning.
...
San Jose Sports & Entertainment Enterprises is led by the investment group of Blue Line Associates, comprised of Kevin Compton, Greg Reyes, Stratton Sclavos, Gary Valenzuela and Harvey Armstrong. Other SJSEE investors include Gordon Russell, Rudy Staedler, Bill Del Biaggio, Greg Jamison, Tom McEnery and George Gund.

 

[therealkoho]

http://sports.yahoo.com/nhl/blog/pu...-starting-to-look-really-really?urn=nhl-97118

The disgraceful part for the NHL is that Bettman claims Boots was properly vetted and that it was up to Del Biaggio to disclose his loans from two other NHL owners -- who had very viable interests in seeing the Predators sold.

"To the extent somebody has loans, they should be disclosed in their application," Bettman told the paper.

Fine. But when asked if two of his most important owners should have notified the League they were funding the purchase of another franchise, Bettman said, "Not necessarily."

That's disgusting. Even more disgusting is the fact that AEG wanted to keep its loan to Del Biaggio on the down-low:

In other words "oh yeah baby we checked him out, we asked him and he told us, what more could I do?"

oh I dunno maybe look a little deeper, cross T's and dot I's, just like the big boys do it!

Blast from the past, under the watchful eye of Gary the Entertainer

But being an SOB in the business world is a long way from being of dubious character and integrity. And the NHL has to be among the less qualified organizations in the world to play that card. This is a league that has welcomed thieves, liars, conmen and cheats, that embraces incompetents and honours rogues, that goes out of its way to do business with men who should be in jail, and has seen several of them dragged off to the pokey while still members in high standing of the NHL Board of Governors.

Character and integrity? As CBS sports noted: It's an interesting assessment because in recent years, the governors have welcomed William "Boots" Del Biaggio, now headed to jail on fraud charges, Henry Samueli, now awaiting sentencing on SEC violations, John Rigas, currently in jail on embezzlement charges, and Sanjay Kumar, now serving time for conspiracy into their circle."



Read more: http://network.nationalpost.com/np/...tegrity-if-he-fell-over-it.aspx#ixzz1GsR1Ygrn

he has though been able to get the league expanded to 30 teams, which is great for the game..I suppose though you have to sift through a lot of "fertilizer" before you get to the truffles underneath

 

[Evil Doctor]

In other words "oh yeah baby we checked him out, we asked him and he told us, what more could I do?"

oh I dunno maybe look a little deeper, cross T's and dot I's, just like the big boys do it!

Blast from the past, under the watchful eye of Gary the Entertainer

Can't help but think we're going to have this same conversation a couple of years from now about Matt Hulsizer...