Employee puts Fertitta on blast for not paying them

PRIDE!... He said it, "I DON"T NEED $1 BILLION IN CASH"

"
Tilman Fertitta was in over his head when he purchased the Houston Rockets in the first place. He bought high, purchasing them for a record $2.2 billion, saddling himself with more debt. He could have taken on partners but as a point of pride refuses to do so, and it impacts both their competitive potential as an organization and in an era where the public is not afraid to name and shame incompetent and cheap billionaires, it impacts the Rockets reputation and image.

Fertitta has turned down offers for partnerships:

“I had a call from somebody this week who asked if I would sell 50% of the Rockets for $1 billion and the answer was no,” he said. “I could have gotten $1 billion, but I don’t need it.”
This is a man who has requested to open his business early during a shutdown caused by a global pandemic. He has furloughed 40,000 employees. Things aren’t going to get better before they get worse, and the Houston Rockets will end up paying the price for his hubris."

 

He is a terrible person. I hope he loses everything.

 

i hope he keeps his ears (cue princess bride scene)

 

#realbillionaire

 

No human in his position would sell all his assets. They don't want to be like the rest of us anymore. Once you experience that lifestyle it's against human nature to go back.

 

I mean I won't shed a tear if he magically one day lost all his fortune and went down to living a middle class lifestyle for the rest of his life but furloughing employees especially in his industry is standard practice.

 

It is standard practice and he is just being singled out because of his relative fame and wealth. That is part of the problem though, that it is standard practice.

My issues with him are more an accumulation of things. He just is a shinning example of many other people like him.

 

I don’t even think it is that... I think it is a type of personality. The same thing that made the quest to own everything the single most important thing in the world to him, will keep him from losing it at all costs.

FWIW I don’t blame him for not wanting to sell half interest in the Rockets. The organization will be a cash cow in a way his other businesses will not and can employ all his family and friends and provide multiple generational extreme wealth.

Look at the owners of the Bears, Lions, Giants, Texans, Lakers. Keep the team asset safe, avoid unnecessary financial risks outside of the sports team and avoid urges to sell and it is a magic ticket.

 

Steve Ballmer was supposedly insane before he retired. The stories are incredible.

Still I think he is appealing to fans because he is doing what a lot of us would do if we had his wealth. He is reasonably young. Buys a downtrodden franchise and decides to make it a premier franchise. Hires the smartest best people. Asks players what they want and does it. Wants his own Arena so buys the freaking forum and prepares to negotiate building an arena he will own without tax dollars. Guy sees something important on the news about a cause or tragedy, drops tens of millions of dollars on it.... seems genuinely happy and realizes how lucky he is. Easy to root for a guy like that.

 

Yup. I swear to god...if I ever have to go back to government cheese and government orange again, I think I'll just do a Leaving Las Vegas, use my last $$$$ on Blow and Hookers. I believe Tilman is heading that way. Go out in style, dont' go out broke.

 

Guys! I have great news! Tilman will be bailed out, so he will be able to pay the Rockets players and use the Luxury Tax!!!

Us poorass hourly folks, losing our job, going homeless...meanwhile, BILLIONAIRE owners getting bailed out.

Oh well... Let's do what Billionaire do, use our last $$$$ on hookers and blow


https://www.cnbc.com/2020/03/27/spo...y-for-loans-with-coronavirus-relief-bill.html





Sports franchises across the country could be getting some help from the federal government to keep hourly and low-salaried workers employed.

As part of the $2 trillion coronavirus relief bill, President Donald Trump signed on Friday, $350 billion is set aside for small business loans. The money can be used to help business owners cover salary, wages, and benefits, worth 250% of an employer’s monthly payroll, with a maximum loan of $10 million.

Sports franchises that have less than 500 employees are eligible, according to Dallas Mavericks owner Mark Cuban, who added the bill’s feature is “the right thing to do.”

 

Not trying to minimize Ballmer's act. But Drew Brees donated 5 millions. Brees's wealth is far less than 20% of Ballmer's.

 

Balmer can make dogs out of Tilman and Les

he’s the other founder of Microsoft

I know the newbs just now learned something
Cause they are dummies

 

Les Alexander was in the student loan business before he got the Rockets

I know this is new for you dumb idiots

so he picked Tilman who needed a load from him to buy the team. He’s not going to pick Jeff Bezos who can buy it with change that fell out of his pocket

Yes Tilman owes money to Les who’s getting extra money off interest

another lesson for you dumb suckers with your max out discover cards

@Reeko

Les picked Tilman for a reason
The reason is more money for Les . Billions plus interest

some of you stupid idiots think it’s health reasons
No
Jerry Buss and Paul Allen died as owners

he sold the team for greed that’s 100%

 

Ballmer saving for a potential Clips championship!

 

Will Russ be next? Remember, he agreed to defer some of his salary this season to help Tilman. This could get interesting.

 

Get money from Trump package, and pay 50 million luxury tax next year. Not bad.

 

@tinman is an odd drunk poster

 

Look I'm going to get raked over the SJW coals here, and I'm not saying any of this to 'defend' Tilman, I don't have any insight into his finances, he is annoying, and his employees should be able to argue for whatever they want. But...

It would be better for non-salaried restaurant and casino employees to get unemployment benefits via government stimulus than to work shifts at an empty restaurant and expect a non-liquid owner to pay for 40,000 of them to do so. If we're going to yell at something, it should be for the magic government fairies to print money and expand temporary benefits to solve a crisis they haven't much of anything to resolve medically.... but I digress...

I get that it's morally compelling to yell at Tilman to pay everyone, but from other angles it also just isn't sustainable.

By the same token, a lot of Landlords are going to have to learn the same lesson lenders have. I work in commercial real estate, and lessons being learned there will apply to everyone. Whether you are a government official, billionaire owner, tip-dependent employee, or furloughed employee, letting people skip rent payments or payroll checks once or twice may be better in the long-run than losing all of your tenants to eviction, or losing the business you work for when it becomes insolvent.

This isn't just a 'pay me because you're richer than I am' situation. This sucks, and might suck for a while.

 

I think Tilman will focus on future by taking the luxury tax profit again and again.

trade Gordon to GSW for TE.