Wed05272015

Last updateMon, 25 May 2015 2pm

LOS ANGELES Wednesday, May 27th 2015 4:41

WAGE RAISE RAGE

  • WHO WE ARE-Nearly half of Los Angeles just gave itself a raise. Following a wave of state and local minimum-wage bills and initiatives, Los Angeles became one of the largest cities to dramatically raise its hourly base pay and join Seattle to hit the magic $15-an-hour demand pushed by labor and community groups nationwide. The City Council…
  • ​City Snookered by Westfield Billionaires

    Jack Humphreville
    LA WATCHDOG-In March of 2014, the Herb Wesson led City Council and Mayor Eric Garcetti approved a 25 year, $48 million giveaway to help the $28.5 billion Westfield Corporation finance its $250 million development, The Village at Westfield Topanga. (Photo) But this subsidy championed by Councilman Bob Blumenfield was hardly necessary as The Village…
  • Slick With Denial: ‘Self-Regulation’ and the Latest Oil Spill

    Judith Lewis Mernit
    HISTORY LESSONS IGNORED-On Wednesday, May 20, the day after a Santa Barbara County fire inspector discovered a stream of contaminated crude oil flowing onto a pristine segment of the Southern California coast, a group of researchers published a study linking the 2010 Deepwater Horizon oil spill to a mass die-off of bottlenose dolphins. The 46…
  • Scaremongering about the Patriot Act Sunset

    Jameel Jaffer
    FALSE CLAIMS EXPOSED-In a last-ditch effort to scare lawmakers into preserving unpopular and much-abused surveillance authorities, the Senate Republican leadership and some intelligence officials are warning that allowing Section 215 of the Patriot Act to sunset would compromise national security. (One particularly crass example from Senator…
  • Still the Land of the Free, and the Home of the Brave

    Ken Alpern
    ALPERN AT LARGE-It's been another year and another successful Flag Placement at the West Los Angeles National Cemetery. Crawling out of bed in the morning on a holiday weekend to show up bright and early for a show of American patriotism and respect to our veterans and fallen heroes, the region and nation saw yet again how the Boy Scouts, Girl…
  • Retaliation: VA Police Target Veterans

    Robert L. Rosebrock
    LOS ANGELES – Recently, I was interviewed by John Ismay, an Iraqi War Veteran who is the “Veterans and Military Issues Reporter” for Southern California Public Radio. We met at the Los Angeles VA to discuss the never-ending misappropriation of land at this largest VA in the nation, within our nation’s capital for homeless Veterans. We were…
  • City Controller’s Grandstanding DWP Audit is the Real Waste of Ratepayer Dollars

    Dennis Zine
    JUST THE FACTS-City Controller Ron Galperin’s Grandstanding DWP Audit results were finally released. Unfortunately, the conclusion and political spin that came afterwards from the controller was misleading. Here are the FACTS: The DWP’s Joint Training Institute and Joint Safety Institute are administered by DWP managers and representatives of the…
  • A Place Where ‘Special Interest’ is NOT a Dirty Word

    Denyse Selesnick
    MY TURN-We need to have a new word to differentiate the villainous “Special Interest” that everyone is always complaining about and the “Special Interest” that almost all of politicians and civic and social activists have adopted as a cause. It is impossible to have passion about multiple issues. I know I have mentioned this before, but it seems…
  • Alert! America’s Small Businesses are Being Screwed by Big Business

    Robert Reich
    THE ECONOMY-Can it be that America’s small businesses are finally waking up to the fact they’re being screwed by big businesses? For years, small-business groups such as the National Federation of Independent Businesses have lined up behind big businesses lobbies. (Photo: small businesses in Studio City) They’ve contributed to the same Republican…

 

  • Can Strawberries Help Fight Cancer?

    Christian Cristiano
    WELLNESS-There have been a number of studies over the years that could show evidence of strawberries fighting off cancer. Tong Chen lead a study…
  • Study: The Best Way to Quit Smoking … Bet On It

    Francie Diep
    WELLNESS-Oftentimes, money speaks louder than words. Apparently, that aphorism applies to cigarettes too. A new study finds that money incentives…
  • Exercise Can Help Anxiety … Here’s How

    Christian Cristiano
    WELLNESS-Statistics show that over 3 million American adults suffer from anxiety and there is no evidence that number will be declining any time…




ICYMI-Amy Schumer shows Dave her vagina

Remembering Ann Meara: 1929-2015

The Star Spangled Banner … like you’ve never heard it before

 

 

 

 

  

 

 

 

Wheeling & Dealing Boston Frankie Still Scheming in Dodgerland

HOW MCOURT PLANS TO MAKEOUT ON THE DODGER DEAL - When it comes to money, what the looting Boston Frankie does is often very different from what the dapper Frank McCourt says in public.

In the last several weeks, Frank has entered into a settlement agreement with Princess Jamie, his ex wife and former business partner, worth $131 million in cash.  He has also agreed to sell the Dodgers, hopefully by Opening Day, and even retained an investment bank to facilitate the process.
And according to Bill Shaikin, the go to Los Angeles Times reporter on all things McCourt, Frank even apologized to the Dodgers’ fans for all the ownership shenanigans over the last two years.

At the same time, real estate speculator Boston Frankie and Fox Sports have traded lawsuits over the his desire to auction the media rights to the Dodgers prior to November 30, 2012, a clear violation of the team’s contract with Fox Sports.   

But this litigation is just part of the Boston Frankie’s strategy to maximize his returns at our expense, where the sum of the parts is worth more than the whole.

The Boston Parking Lot Attendant’s game plan is to retain ownership of all of the land in Chavez Ravine, including the parking lots and the land under Dodger Stadium.  He is also angling to retain an equity interest in the new Dodger Network as well as a minority interest in Dodgers.

As part of this convoluted scheme, the Dodgers would enter into long term contracts with the Boston Parking Lot Attendant to lease the parking lots and the land under Dodger Stadium.  The resulting lease payments and the land would then serve as collateral for new borrowings.

Boston Frankie is also forming a new company to control the media rights to the Dodgers. This entity would be the foundation for a new Dodger Network, very similar to the very successful Yankee Entertainment and Sports Network and the New England Sports Network, 80% of which is owned by the Red Sox.  

The proceeds from the sale of the Dodgers and the loans backed by the lease payments, the land, and his equity interest in the Dodger Network would allow wheeler dealer Boston Frankie to repay the Dodger indebtedness of $700 million, refinance his existing loans on the parking lots and his remaining houses, pay Princess Jamie her $131 million, liquidate his personal obligations to Fox Sports related to the 2011 advances to fund the team’s losses, and pay off his outstanding  legal fees and other sundry obligations.

He would even have money left over to purchase a minority interest in the Dodgers!

But for Dodger fans, it is a time of optimism.

During the second half of the season after the All Star break, the Dodgers played very well, winning 13 more games than they lost. Matt Kemp, the MVP runner up, has been signed to a long term contract and Clayton Kershaw won the National League Cy Young Award.  And hopefully, our new, well capitalized owner will be willing to invest in talent that will add some firepower to the batting order and strong arms to the pitching corps, resulting in a pennant contender that will draw the crowds of yesteryear.

But the chief reason to believe in next year is that the morally and financially bankrupt Boston Frankie and his family will be history, no longer involved with the Dodgers.

While the ultimate outcome of the sale of the Dodgers is still unknown, we must rely on Bud Selig and Major League Baseball to protect the true blue Dodger fans from the ever scheming Boston Frankie and his convoluted Enronesque schemes that threaten to further undermine the Dodgers and Major League Baseball itself.

So Bud, here’s looking at you.  Please make sure that the racketeering Boston Frankie is just a very bad memory by Opening Day.  Otherwise, be prepared to hear the many boos on Opening Day and for another major drop in attendance.  

(Jack Humphreville writes LA Watchdog for CityWatch He is the President of the DWP Advocacy Committee and the Ratepayer Advocate for the Greater Wilshire Neighborhood Council. Humphreville is the publisher of the Recycler -- www.recycler.com. He can be reached at:   lajack@gmail.com ) –cw

Tags: Dodgers, LA Dodgers, Jack Humphreville, Frank McCourt, Bud Selig, MLB, Major League Baseball







CityWatch
Vol 9 Issue 94
Pub: Nov 25, 2011

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