Remember that completely worthless stock that the Green Bay Packers were peddling for $250 a pop? Well they ended up moving about 250,000 total shares since December when they first realized what a great scam this was.
Good news, by the way, additional shares are available.
But the shares that will be sold aren’t what we’re talking about today. Rather, the topic of discussion for today is the shares that already have been sold.
Like this one:
Do you see the problem? Besides the fact that this guy (or girl) spent at least $250 on a worthless piece of paper, I mean.
All of the certificates that get sent out should say “Green Bay Packers, Inc.” on top of the page. Unfortunately, this one is special. This one says, “Green Boy Packers, Inc."
Honest mistake, of course. Now I know what you’re thinking. You’re thinking that this may hurt the resale value of that share. Wrong. None of these shares -- that cost $250 to buy -- can be resold so, really, it doesn’t matter what the certificate says.
On the bright side, this unfortunate Packers investor now has a collector’s item on their hands. The actual value of Packers stock is about three cents. This one is worth at least a dime.
(Kudos to Sports Illustrated for the photo and the find)
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I feel like this silly argument has already been successfully answered in the comment section of this piece:
http://www.opposingviews.com/i/sports/nfl/green-bay-packers-offer-30000-more-shares-worthless-stock
"Not to point out the obvious, but would you prefer the state/county/city forcibly raise the funds, like every other pro team, via taxes ?
To me, a former resident of Wisconsin, who has lived in Texas for over a decade, it's an honor to give a few bucks to the enterprise that I love. I think most fans would agree.
Your objection can only lead to one conclusion, you don't mind paying extraordinary hotel and car rental tax rates/fees to support stadiums in cities you visit. I think it stinks.
To me, all teams should have to raise the funds voluntarily. And make no mistake about, when a team whats a a new stadium or repair an old one, they get it or leave. And someone will give them what they want and plenty of people who don't like the team/sport will end up paying for it.
And really.. what do you care, what's your grip here, that people are voluntarily spending their cash is ways you don't approve of ? Are you cool with other donations, or is anyone that gives money with no expectations of a return, just as 'stupid' in you mind. As clearly stated on the purchase website, "COMMON STOCK DOES NOT CONSTITUTE AN INVESTMENT IN "STOCK" IN THE COMMON SENSE OF THE TERM. PURCHASERS SHOULD NOT PURCHASE COMMON STOCK WITH THE PURPOSE OF MAKING A PROFIT." Inferring the purchaser don't know this is non-sense.
For the record, pointing out rules that are for owners is fine, but forgetting to mention that the NFL doesn't view a Packer Shareholder as an owners is misleading non-sense. You also failed to mention voting rights. The shareholders alone determine management, aka the board of directors. It may not mean much to you, but to some of us, that is worth the price of admission.
No one is laughing 'all the way to the bank' because unlike other sport teams, there is no owner, every cent is recycled back into the organization. No one, but the fans, many of who bought stock, are prospering from the sale.
So if anyone is 'stupid', it would be the fool who writes an a misleading article to prove that a donation is a 'stupid' investment, something nearly a million Packer Shareholders already knew, and more importantly, something pretty much everyone on the planet already knows."
-ScottW714
Now can we please move on to actual issues?
They seriously printed up this typo..or did someone with a scanner get creative..?