Compuware CEO Peter Karmanos plans for exit [Compuware] by early 2013

Discussion in 'Fugu's Business of Hockey Forum' started by Finlandia WOAT, Jan 19, 2011.

  1. Finlandia WOAT

    Finlandia WOAT Bench Constance Garnett

    Joined:
    May 23, 2010
    Messages:
    18,744
    Likes Received:
    7,473
    Trophy Points:
    156
    Occupation:
    a watchmaker
    http://www.freep.com/article/201101...O-Peter-Karmanos-plans-for-exit-by-early-2013


    Karmanos looks to be out of Compuware by March 2013, and out as CEO later this year.

    My take: This is why Karmanos is (supposedly) looking to sell more than just his dead partner's share. Who wants to own a hockey team that losses money in retirement?

    I also see it as a deadline; if Karmanos can not sell the team by March 2013 to a local owner, then Winnipeg may very well get there team (unless the NHL wants to step in, which I highly doubt).
     
  2. tarheelhockey

    tarheelhockey Highest Boss

    Joined:
    Feb 12, 2010
    Messages:
    57,960
    Likes Received:
    33,995
    Trophy Points:
    190
    Location:
    The Triangle
    The end of the article implies that he'll retain his ties with the franchise. I wouldn't say they're on the block just because he's retiring, at least not on such a strict timetable. Two years from now they could be back in the black for all we know.
     
  3. Finlandia WOAT

    Finlandia WOAT Bench Constance Garnett

    Joined:
    May 23, 2010
    Messages:
    18,744
    Likes Received:
    7,473
    Trophy Points:
    156
    Occupation:
    a watchmaker
    All I see is a notation that he owns several hockey clubs.


    Regardless, this is just my speculation that is based only on what I think Karmanos would do if he had no buyers to keep the team in Carolina and wanted to retire.

    It very well may be that it never comes to that, and Karmanos just owns the team until he dies.

    Which is interesting; who gets the team if he dies? Does Rutherford (who is also Co-Owner IIRC) get it?
     
  4. tarheelhockey

    tarheelhockey Highest Boss

    Joined:
    Feb 12, 2010
    Messages:
    57,960
    Likes Received:
    33,995
    Trophy Points:
    190
    Location:
    The Triangle
    Just above that there's a line, which albeit is not explicit at all, which implies that he will remain active with his hockey investments. It's often very hard for executives to downshift into purely recreational time, so they keep pet projects going as a way of funnelling their impulses. Pretty common anyway.

    One thing I just can't see happening, is Rutherford wanting to sell the team on a strict timetable and ending up sending them out of town. That would erase the legacy he built with the franchise, and do damage to his credentials as a builder of American hockey, and honestly... he's too rich to be backed into it. If he needs to wait another year or two he can afford it.

    I guess that's up to him. Probably not a matter of public record.
     
  5. garnetpalmetto

    garnetpalmetto Global Moderator

    Joined:
    Jul 12, 2004
    Messages:
    11,181
    Likes Received:
    6,650
    Trophy Points:
    186
    Gender:
    Male
    Location:
    Durham, NC
    Depends on how it's disposed of in his will. I'd wager dollars to donuts that Karmanos has a will, but assuming he died intestate, his share of the team would pass through probate and be divvied up amongst his heirs. The only way Rutherford gets it is if he's specifically names as the beneficiary in PK's will.
     
  6. Fugu

    Fugu Guest


    I moved this to it's own thread. It's really about Karmanos's career, etc., which really isn't related to the other thread about the Hurricanes operational figures. Of course, what it means for him as an owner is open to speculation.

    Link to the VERY OLD thread, like from SIX MONTHS AGO about Karmanos looking for a partner.

    http://hfboards.com/showthread.php?p=27150179#post27150179
     
  7. AllByDesign

    AllByDesign Who's this ABD guy??

    Joined:
    Mar 17, 2010
    Messages:
    2,317
    Likes Received:
    0
    Trophy Points:
    0
    Occupation:
    Finance.
    Location:
    Location, Location!
    That's our specialty!! :nod:
     
  8. Blue Dragon

    Blue Dragon Registered User

    Joined:
    Jan 27, 2007
    Messages:
    1,471
    Likes Received:
    0
    Trophy Points:
    0
    Location:
    Ohio
    Funnest fact: The NHL is the only league of the big 4 to have never relocated a championship winning team.
     
  9. kmad

    kmad riot survivor

    Joined:
    Jun 16, 2003
    Messages:
    34,119
    Likes Received:
    11
    Trophy Points:
    171
    Location:
    Vancouver
  10. Acesolid

    Acesolid The Illusive Bettman

    Joined:
    Sep 21, 2010
    Messages:
    2,393
    Likes Received:
    116
    Trophy Points:
    81
    Location:
    Québec
    False, on top of the Ottawa Senators, the Quebec city Bulldogs (a team that also had a dynasty that won 2 Stanley cups in a row against the Montreal Canadiens) where also relocated.
     
  11. kdb209

    kdb209 Registered User

    Joined:
    Jan 26, 2005
    Messages:
    14,870
    Likes Received:
    0
    Trophy Points:
    126
    If I were a 'Canes fan I would be much more concerned with his estate planning - a la Bill Davidson.

    Karmanos is what, 67 now and will be almost 70 when he fully retires from CompuWare.

    Does he have any heirs who would be willing/able to own an NHL Franchise? Are there any other obvious candidates for a local owner or ownership group?
     
  12. Blue Dragon

    Blue Dragon Registered User

    Joined:
    Jan 27, 2007
    Messages:
    1,471
    Likes Received:
    0
    Trophy Points:
    0
    Location:
    Ohio
    OK, how about since the Stanley Cup was officially designated as the championship trophy of the NHL (and only the NHL) they have not relocated a championship winning team.
     
  13. garnetpalmetto

    garnetpalmetto Global Moderator

    Joined:
    Jul 12, 2004
    Messages:
    11,181
    Likes Received:
    6,650
    Trophy Points:
    186
    Gender:
    Male
    Location:
    Durham, NC
    Not sure about his financial ability, but his son Jason is involved with the organization as the Vice President/Assistant GM. As for potential local ownership, you have Jim Goodnight, the CEO of SAS Institute. The only problem with Goodnight is that he's older as well (currently 67 years old). Other than that, he's local and fairly well off - I believe he's worth around $7 billion. Along with him you have John Sall, the Executive Vice President of SAS. He's worth around $4.4 billion. He's five years younger than Goodnight, so there's that.

    Other than the two from SAS there's also Wendell Murphy who's a billionaire and is a fairly big booster of NCSU athletics and previously held the naming rights to what's now the RBC Center. Major drawback there is he's 72 and he may not be considered sophisticated enough to run with people in the Board of Governors.

    Other than that, you've got quite a few tech companies based here in the Triangle - Red Hat and Epic Games, for instance. No clue what Tim Sweeney's net worth is, for instance, but who knows - maybe there's a desire from one of the CEOs of a tech firm to be the next Mark Cuban?
     
  14. Fugu

    Fugu Guest

    True, but he has been looking for a partner for some time now, hasn't he?
     
  15. Finlandia WOAT

    Finlandia WOAT Bench Constance Garnett

    Joined:
    May 23, 2010
    Messages:
    18,744
    Likes Received:
    7,473
    Trophy Points:
    156
    Occupation:
    a watchmaker
    Yep, the last information came several months before the season started, and involved Karmanos hiring a firm to sell his dead partner's share (and it was rumored at the time that he may also be looking to sell his share).

    The prevalent theory when no new information came out after that was that it is hard for someone to buy 49% of a multi million dollar investment, and rightfully so. They would have little to no control compared to Karmanos.

    EDIT: Fugu, why did you make this its own thread? I agree with the initial move, but it fit with the motif that Karmanos is looking to sell the Hurricanes.
     
    Last edited: Jan 19, 2011
  16. Evil Doctor

    Evil Doctor Cryin' Hank crying

    Joined:
    Apr 29, 2009
    Messages:
    2,400
    Likes Received:
    6
    Trophy Points:
    56
    Occupation:
    Actor
    Location:
    Cambridge, ON
    That would still be the Ottawa Senators, relocated to St. Louis....
     
  17. Fugu

    Fugu Guest


    The current article makes no mention of his plans wrt to the Canes.

    Secondly, the old thread is over six months old. If we just kept merging threads on similar topics, we'd end up with one on each team, the CBA, and Who's Moving Today?

    And finally, I hate merging very old threads with new info. You have to wade through hundreds of posts from months ago to get to the new stuff. Highly annoying.
     
  18. edog37

    edog37 Registered User

    Joined:
    Jan 21, 2007
    Messages:
    4,249
    Likes Received:
    318
    Trophy Points:
    124
    Location:
    Pittsburgh
    So, does this mean that Hartford gets it's stolen team back...
     
  19. Finlandia WOAT

    Finlandia WOAT Bench Constance Garnett

    Joined:
    May 23, 2010
    Messages:
    18,744
    Likes Received:
    7,473
    Trophy Points:
    156
    Occupation:
    a watchmaker
    No, I highly doubt that Hartford will ever get a team back.


    Which is sad, because their jerseys are really nice, and their hockey fans deserve better.


    I would like to note, though, that Hartford was losing money at a rate similar to many of the "problem" franchises that are hotly debated here. So if they didn't move, then this nostalgia about how Hartford deserves a hockey team probably woudn't exist.

    I would even go as far to say that many would lump it in the same boat as the rest, because of market size and money/attendance that it had.
     
  20. Jeffrey93

    Jeffrey93 Registered User

    Joined:
    Nov 7, 2007
    Messages:
    4,325
    Likes Received:
    38
    Trophy Points:
    101
    Did you see Enron's stock plummeting and think "MAN! This is a great time to get in on this!! I'm buying up LOADS of that stock!"

    Sure they could be back in the black for all we know.....and for all we know they will keep doing what they have been doing.....

    Just sayin....
     
  21. Blue Dragon

    Blue Dragon Registered User

    Joined:
    Jan 27, 2007
    Messages:
    1,471
    Likes Received:
    0
    Trophy Points:
    0
    Location:
    Ohio
    No.

    Source

    The Senators moved before '47, before '47 technically the winners of the NHL had to still take on all comers for the cup.
     
  22. Buck Aki Berg

    Buck Aki Berg Done with this place

    Joined:
    Sep 17, 2008
    Messages:
    17,325
    Likes Received:
    1
    Trophy Points:
    0
    Occupation:
    Bacon sampler.
    Location:
    Ottawa, ON
    [​IMG]

    I've had it up to here with your "rules"... :sarcasm:
     
  23. tarheelhockey

    tarheelhockey Highest Boss

    Joined:
    Feb 12, 2010
    Messages:
    57,960
    Likes Received:
    33,995
    Trophy Points:
    190
    Location:
    The Triangle
    They compare very well to Enron, excellent point! :thumbu:

    :)sarcasm: <- not necessary)
     
  24. garnetpalmetto

    garnetpalmetto Global Moderator

    Joined:
    Jul 12, 2004
    Messages:
    11,181
    Likes Received:
    6,650
    Trophy Points:
    186
    Gender:
    Male
    Location:
    Durham, NC
    Did a little more research as to who founded Red Hat - looks like one of the founders was Bob Young who currently owns the CFL's Hamilton Ti-Cats and is/was a partial owner of the Carolina RailHawks, a minor league soccer team in the area. Anybody know any more details on him or his suitability to purchase the team and keep it in the Triangle?
     
  25. Free Edler

    Free Edler Enjoy retirement, boys.

    Joined:
    Feb 27, 2002
    Messages:
    25,385
    Likes Received:
    38
    Trophy Points:
    232
    Gender:
    Male
    Occupation:
    ad copywriter
    Location:
    Surrey, BC
    He's wealthy, but probably not rich enough to own an NHL team. That coupled with his ties to Hamilton could make the optics a bit too tough to bear.
     

Share This Page

monitoring_string = "358c248ada348a047a4b9bb27a146148"