Saw Danny Morrison Speak Today...
Posted 19 June 2013 - 07:38 PM
Thanks everybody, I really enjoyed seeing him speak. Had goosebumps when he was talking about his high hopes and expectations for this year. Can't wait for football.
And yes I know IE sucks. I was using my work laptop...using my time wisely to sell....and a lot of our work applications only work in IE. itttt really sucks. I'm supposed to be getting a new one soon so maybe that will change.
I know how you feel about IE. When I worked for a bank around here, all their platforms were built on IE. The programs themselves were about as atrocious as IE.
Posted 19 June 2013 - 11:01 PM
It doesn't work like that. Let's say he did what you suggested. The difference between the low price charged and the fair market value of the team would be considered a gift by the IRS. This means that JJR would have to pay gift tax on the amount of the gift. Gift tax rates are essentially the same as estate tax rates, thus no tax savings there... Also, upon death, the federal estate tax liability is due in 9 months, so I don't see where requiring that the team be sold within two years would help out there, assuming there is no other money to pay the tax. I would find that unlikely for someone like JJR...
Here is the issue I have with the "death" tax. What is stopping him from selling now? For something crazy like 10 bucks to a family member? Just because somethiing has a perceived value doesnt mean you HAVE to sell it for that much.
Posted 20 June 2013 - 05:50 AM
Yup, I remember the first year Dr. Morrison was president he was walking around mini-camp (which wasn't even open to the public) handing out rosters to the folks that were watching.... I've had the pleasure of interacting with him many more times since then and he's a class act.
Part of me hopes he will assemble a team of investors to purchase the team when JR passes.
Posted 20 June 2013 - 10:39 AM
Holy crap, a boo sighting!
Great write-up - that is fascinating information. Danny Morrison is a PR pro, so hopefully all that was genuine.
Thanks for sharing. Use Firefox.
He is one of the most genuine people you'll ever meet.
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