Straybullet,
I'll take back what I said about the wrestlers. Would you agree that the average income for professional wrestlers is higher today than it was ten years ago?
Not really. When Vince McMahon bought WCW the salaries went down or remained the same because he was the only big name game in town. Without competition his product has become increasingly stagnant, reducing his profit margin and keeping salaries to a minimum or unchanged.
How about golfers? Is the average income more or less than it was ten years ago? How much more?
I would gues it is more, but is that not due to the sponsorship deals at each event? I'm pretty sure that the PGA has different sponsors for each event and others in addition to headline sponsors such as Buick.The PGA has many revenue generating programs and in no way can you compare the IPT tothe PGA PGA Sponsorship Opportinities - etc Pay attention to all the links at the left side of the page.
If a "professional player" cannot afford to attend a professional tournament then it is their fault. You can't make excuses for them.
I'm not making excuses for them. The US Open has been on the schedule for over a year. It's not the IPT's fault that they are playing it so close to the vest (assumption on my part) that they don't have the money to enter/attend the US Open.
??? The US Open had to change dates to accomodate the IPT. The IPT also held 10 qualifiers last weekend. What are you smoking, John?
As far as paying "on time". Yep the Wal Mart employee expects to get paid when Wal Mart says they will pay them. In this case, while I find the practice deplorable, the players have accepted that the checks are in the mail and don't seem worried about it. So, apparently, three weeks out is becoming "on time" for IPT players. Still, I bet the majority of Wal Mart employees would trade with IPT players. Want to do a survey and bet a thousand on it?
Keep your money and get a decent haircut.
Taxed which way? Any income, whether it be a gift or earned is subject to tax as far as I know, with certain exemptions up to a limit? You're the CPA, is this not true? Can I be gifted a million bucks tax free? You're not gonna make me look it up are you? But, I think you understood what I meant and would just like to be argumentative. Welcome back.
You said it was a gift. It was fair question. Is it or isnt it? lol
What does golf and tennis have to do with it you ask? Um, they are two professional sports that developed over time into respected venues for the elite of both to earn incomes commensurate with their skill and sacrifices. I am sure that there were those back in 1916 when the PGA America started that predicted doom and gloom for them as you and other armchair business wizards are doing for the IPT.
Armchair business wizard? LOL. Im currently earning my doctoral degree in finance. Maybe, just maybe I might know a little suttim suttim about bidniz.ROTFLMAO @ John Barton - Collins - whatever you go by these days.
You have ZERO idea whether the IPT is operating in the red or not. NONE.
Theyve paid out millions of dollars and brought in less than that in revenue.
Durrrrrrrrrr.
You can't even find out the address of the IPT much less have any access to their operating budget, bank account balance, ad revenue, investments, or anything else that is internal to the IPT. Despite your accounting background you are still only able to speculate based on what you perceive from the outside looking in. If I were a hustler I'd ask you bet which companies out a list I prepared are financially healthy and which ones are operating in the red. I'd bet some serious money that you'd pick wrong on a lot of them if you had to choose immediately without doing research. So, while you MAY be right, the fact is that you don't KNOW what the situation at the IPT is.
Well, obviously you have no respect for my profession, and I have no respect for your haircut.
Anyway, I spent 4 and half years in corporate auditing so I may surprise you.
As for whether the IPT is a good deal (for the player I presume you to mean) or not. If it works out according to Kevin's announced vision then it is a fantastic deal for professional pool players. If it doesn't then it was a fantastic experience for a lot of them and a sore letdown. So, even after the cows come home, the IPT has been a boost to pool.
Nobody knows about it all around here. Im not just saying that. Many people have no idea that it even exists - and this is ORLANDO. lol
Hate to pick on your profession again
-Bull$hit, I know you enjoy it -but the reason you don't understand why an entrepeneur tries to sell or attract investment is exactly why they hire accountants. You are there to count the beans they cultivate. If accountants held the keys to the vault of business success then the accountants would own the world. You are the counterbalance to the entrepeneur's willingness to bet the farm on a vision. I have known very few CPAs who made good business people. I won't bore you with anecdotes but suffice it to say that I know a few who dabbled in businesses with little success. A CPA knows the rules of business but not the moves, just like a novice one pocket player. As an accountant you should know that the worst time to try ad sell a business is when it's in the red. So IF the IPT is in such a bad position as you claim to know it is then I'd have to say that either Kevin is incredibly stupid to attempt to sell it or his accountant isn't very good.
Well, I'll fax you my portfolio and prove your generalizations to be incorrect once again. Are you still mad about that $8 ham sandwich? I told you I would have taken care of it for you. Jeeze. Talk about deep seeded bitterness.
I have no idea and neither do you.
Speak for yourself.
Your degree is not a crystal ball. Maybe if the IPT fails the players will finally decide to take matters into their own hands and form a cohesive organization to protect their interests, grow the sport, and provide quality entertainment. If so then perhaps they will hire you and Blackjack to help them in that regard.
He doesn't need me, he needs ethics.