Katz selling Rexall chain

[SupremeTeam16]

It's pretty obvious that he's using the ICE district as at platform to foray into the land development/real estate sector.

Years ago he sold a portion of the pharma business to McKesson because of reforms to the drug industry.

 

[Yukon Joe]

I brought up awhile back with the dollar there could be a time where Katz starts to cut salaries, but I was told as long as he owns Rexall he'll be okay as people always need drugs.

He has a lot of cash now, but a few bad investments and who the hell knows. Think I prefer him with the money making business rather than the money that could potentially disappear.

There are plenty of businesses that went from money-making to money-losing.

Pharmacy is a tough biz. There's not only the competition from Shoppers, but grocery stores are moving into pharmacy's space, and doctor's offices are moving into "one-stop health care needs" by having pharmacists on-site.

 

[Gretzkyforever99]

more money to lure stamkos with

 

[McDynasty]

I have great admiration for Katz when it comes to dealings with the drug industry. Having worked in the industry since 1999, back when Katz was very much on our radar, He was our enemy #1. But I had a grudging respect for him, and how he crushed his competition (my company), He was a shrewd businessmen who offered creative ways in the industry, that others followed because they had to.

I'll give you an example: Back in the day all drug stores competed against each other for Pharmacists, they were not enough to man all the drug stores. Katz would poach them right out of University, then offer them their own store at a cost that would be paid back over 20 years, low interest. The competition had to do the same to keep up, and so forth. He was always coming up with ways to outdo his competition, and eventually won a huge market share. My company was doing almost 1 billion dollars in sales before Katz got big, In ten years he decimated our company, and crushed his competition.

 

[shoop]

This is silly. He owns probably half of the real estate of the pharmacies he sold locked up for 20 years each. Talk about money making business. He also owns a tonne of other real estate around the NA in addition to his other media, and entertainment businesses. I would bet a lot of $ on him leveraging his cash into way more wealth than he would have milking the business for cash it generated.

on the entire topic of anonymous message board posters judging how a self-made billionaire manages his business empire and wealth. How incredibly ridiculous.

I bet most of you aren't even millionaires.

 

[Paperbagofglory]

I bet most of you aren't even millionaires.

Well i recently diversified my portfolio and put a bunch of assets into lottery tickets. Its a long term strategy that will see dividends.

 

[Del Preston]

I bet most of you aren't even millionaires.

I have dozens of vCash in the bank.

 

[Soundwave]

Normal for Oilers fans to be a little nervous because of Pocklington, but maybe this a good thing. It always seemed to me like Shoppers Drug Mart was the larger chain over Rexall.

Even if he just invested the 3 billion into various index funds the dividend yield per year alone would easily cover all the Oilers expenses.

Just stay out of the meat packing business Katz

 

[Evilsports]

From my uneducated perspective, it would seem to be a good time to cash out. 35% exchange rate can't hurt his return. Rexall is/was never going to stomp Shoppers/Loblaw anyhow.

 

[Paperbagofglory]

Normal for Oilers fans to be a little nervous because of Pocklington, but maybe this a good thing. It always seemed to me like Shoppers Drug Mart was the larger chain over Rexall.

Even if he just invested the 3 billion into various index funds the dividend yield per year alone would easily cover all the Oilers expenses.

Just stay out of the meat packing business Katz

I have a feeling Katz is shrewd enough to sell off the team for a fortune when or if they win a cup or two and pack his bags if the dollar does not cooperate for half a decade or more. This dude barely invested any of his own money in the project. I could see him keeping ownership of the surrounding businesses. I just think the NHL is a dying league and pro sports in general and basically ruining themselves out of greed. There will come a time where a certain price point for tickets will reach its limit and things will hit the fan. Look at the MLB. There are about 10 teams out of 30 with good attendance figures and viewership is limited to the 6 to 8 mega market teams. The dude knows how to sell assets at the right moment it seems.

 

[McSuper]

on the entire topic of anonymous message board posters judging how a self-made billionaire manages his business empire and wealth. How incredibly ridiculous.

I bet most of you aren't even millionaires.

I am about to settle my car accident claim 10 years after the fact for 750,000.00 so only 250,000 to go . If I play my cards right I should be able to get there

 

[Soundwave]

I have a feeling Katz is shrewd enough to sell off the team for a fortune when or if they win a cup or two and pack his bags if the dollar does not cooperate for half a decade or more. This dude barely invested any of his own money in the project. I could see him keeping ownership of the surrounding businesses. I just think the NHL is a dying league and pro sports in general and basically ruining themselves out of greed. There will come a time where a certain price point for tickets will reach its limit and things will hit the fan. Look at the MLB. There are about 10 teams out of 30 with good attendance figures and viewership is limited to the 6 to 8 mega market teams. The dude knows how to sell assets at the right moment it seems.

Maybe but I kinda doubt it, hockey will always be a huge deal in Canada, and I don't see the NBA/NFL/MLB coming to Edmonton any time in the next 25 years.

Running a NHL franchise when you have this level of wealth is no big deal, it's a fun little investment to have.

This deal actually nets Katz $4 billion Canadian thanks to the currency exchange, that's probably why he's selling now. This same company also bought other parts of the Katz pharmacy group (IDA) for about $1 billion a few years ago, so he has a ton of cash.

 

[Paperbagofglory]

I am about to settle my car accident claim 10 years after the fact for 750,000.00 so only 250,000 to go . If I play my cards right I should be able to get there

I would invest 70 percent of those funds into lotto max. Can you imagine your odds? you can't lose!

 

[McBooya42]

Well he certainly won't be short on cash now

I don't think he ever was....or at least hasn't been for a very loooonnnngg time.

 

[McBooya42]

Oh no.

Think what you want, but he's a hell of a businessman. He's the reason why he's able to sell Rexall for 3 Billion in the first place.

 

[Soundwave]

It's basically like a $4 billion dollar deal, in 2012 the same San Fransico based company bought I.D.A. and Guardian for $920 million.

So they paid basically $4 billion for the whole Rexall/IDA pie.

 

[shoop]

I am about to settle my car accident claim 10 years after the fact for 750,000.00 so only 250,000 to go . If I play my cards right I should be able to get there

You're living the Canadian dream. Wealth accumulation by litigation.
I kid. I freely admit I have no idea about your circumstances. No judging.

Katz is an interesting man for sure.

The internal drive to become a billionaire fascinates me. It goes far beyond mere accumulation of wealth. Many are ego driven and adore the public adoration. The latter is definitely not Katz's thing as he is so reclusive.

I don't see Katz selling the Oilers until he retires for good. That would include divesting everything he owns in the Ice District.

He has followed a very successful business model. He bought a distressed asset at a low, low price. Through a number of shrewd deals he has increased the value of the team substantially.

I think he's a big Oilers fan who is living the dream. He owns the frickin' team. He maybe got snowed by the OBC a little long, but the moves in the last year have changed that.

I think the real change in this teams fortunes was hiring Nicholson, plus of course that golden ticket.

 

[NewBoysClub97*]

Katz has a pretty cool story. It's nuts how fast he accumulated his wealth. Thre was a neat article in the journal online that showed most of the steps that he took from high school and onwards. Probably still up there somewhere.

 

[Soundwave]

You're living the Canadian dream. Wealth accumulation by litigation.
I kid. I freely admit I have no idea about your circumstances. No judging.

Katz is an interesting man for sure.

The internal drive to become a billionaire fascinates me. It goes far beyond mere accumulation of wealth. Many are ego driven and adore the public adoration. The latter is definitely not Katz's thing as he is so reclusive.

I don't see Katz selling the Oilers until he retires for good. That would include divesting everything he owns in the Ice District.

He has followed a very successful business model. He bought a distressed asset at a low, low price. Through a number of shrewd deals he has increased the value of the team substantially.

I think he's a big Oilers fan who is living the dream. He owns the frickin' team. He maybe got snowed by the OBC a little long, but the moves in the last year have changed that.

I think the real change in this teams fortunes was hiring Nicholson, plus of course that golden ticket.

Sports teams give these guys something to "do" and a way to satiate their competitive business urges too I think.

See also: Mark Cuban owning the Dallas Mavericks, Steve Ballmer owning the LA Clippers.

It gives you something to be involved in/to do when you sell out of your main business.

 

[shoop]

Sports teams give these guys something to "do" and a way to satiate their competitive business urges too I think.

See also: Mark Cuban owning the Dallas Mavericks, Steve Ballmer owning the LA Clippers.

It gives you something to be involved in/to do when you sell out of your main business.

Cuban and Ballmer prove my point about Katz's reclusiveness being very out of character. Those two are far from reclusive.

Did you see Ballmer do a trampoline dunk at halftime of the Clippers game on Monday? How awesome was that?

I get what you mean about needing something to do after selling your main business for gazillions. I've met (and have mutual friends of) the two main owners of a certain video game company in town that sold for lots of dough. Not billionaire's, but still never ever have to work again wealthy.

They have taken divergent paths since the sale. Both kinda random. Both definitely give off a "what the heck do I do with the rest of my life" vibe.

Not the worst problem in the world to have...

 

[Omgitsadam]

I have zero respect for Katz, the rink deal was BS. For him to hold the city at ransom to fleece the crap out of us is insane. Than the greases pos mayor becomes a PC runner?????? we should find out how much Katz contributed to his campaign......... But on a positive note I don't live in Edmonton so my property tax isn't going to sky rocket to pay for the stupid thing, and no god damn way the NDP gives you provincial money lol

 

[BoldNewLettuce]

I have great admiration for Katz when it comes to dealings with the drug industry. Having worked in the industry since 1999, back when Katz was very much on our radar, He was our enemy #1. But I had a grudging respect for him, and how he crushed his competition (my company), He was a shrewd businessmen who offered creative ways in the industry, that others followed because they had to.

I'll give you an example: Back in the day all drug stores competed against each other for Pharmacists, they were not enough to man all the drug stores. Katz would poach them right out of University, then offer them their own store at a cost that would be paid back over 20 years, low interest. The competition had to do the same to keep up, and so forth. He was always coming up with ways to outdo his competition, and eventually won a huge market share. My company was doing almost 1 billion dollars in sales before Katz got big, In ten years he decimated our company, and crushed his competition.

didn't see this coming didja?

 

[sdimedru]

I have zero respect for Katz, the rink deal was BS. For him to hold the city at ransom to fleece the crap out of us is insane. Than the greases pos mayor becomes a PC runner?????? we should find out how much Katz contributed to his campaign......... But on a positive note I don't live in Edmonton so my property tax isn't going to sky rocket to pay for the stupid thing, and no god damn way the NDP gives you provincial money lol

how many more times.... no taxes are going up.... read up on the deal please

anyways.... great to see Katz move into a new business landscape (Sports, entertainment and realestate)

Last year he already moved to diversify and change his business focus, invested in Silver Pictures Entertainment (movie production)

http://variety.com/2015/film/news/j...atz-silver-pictures-entertainment-1201480491/

 

[thadd]

I'd feel bad about Canadian companies being sold to foreign investors... but Canadian Tire was also owned by Americans last I checked...

 

[MoneyGuy]

how many more times.... no taxes are going up.... read up on the deal please

Taxes don't have to go up for the deal to cost taxpayers money.