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Cal McNair

steelbtexan

King of the W. B. Club
Contributor's Club
Give it up guy. You have been exposed and you can forget about face saving. If you think, before everyone on this board (what happened to your stock lie, lol, now it’s dirty money) that the Houston Texans were bought with dirty money from one of the largest scam-bankruptcy cases in recent history there is no way the McNairs would have escaped the feds. insider trading doesn’t mean sht if you aren’t buying or selling their stock and isn’t relevant here except for your attempted face saving unless you are now claiming the McNairs are a “higher profile investor”. I’m done with your lies, hate and low S2 score.
No face saving is needed when the truth is put out there.

I'm sure you have no issues with the dirty money buying the team. That says more about you than me.
 

Corrosion

Idealist
Staff member
Cal McNair Siblings: Cary McNair, Ruth Smith, Melissa Reichert
***
Bob & Janice had 3 other children besides Cal so how come none of them is apparently coming in with their hand out saying
"I want the cash now".
Do we ever hear anything about Cal's siblings ? I haven't. And they aren't youngsters, because you know Cal is like 60.
I mean if I'm one of those kids or a spouse I'm like "damn lets get some of those green backs now honey,and have a blast because we ain't get any younger."
Anyway it just seems to me that at some point someone would come in and push for a liquidation ?

No need to liquidate, there's plenty of profit for the family to share.

They had $571m in revenue, $211m in operating expenses which left
$360m in profits.

And - lets not forget that Cal is NOT the owner, that's still Janice until further notice.

I don't know how the McNair's share the proceeds .... but $360m is more than enough to keep them all living the high life.
 
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JB

Innocent Bystander
Contributor's Club
No need to liquidate, there's plenty to of profit for the family to share.

They had $571m in revenue, $211m in operating expenses which left
$360m in profits.

And - lets not forget that Cal is NOT the owner, that's still Janice until further notice.

I don't know how the McNair's share the proceeds .... but $360m is more than enough to keep them all living the high life.
And that doesn't count their other holdings. I believe they still own 2 power plants and have an investment company and real estate
 

IDEXAN

Hall of Fame
Contributor's Club
No need to liquidate, there's plenty of profit for the family to share.

They had $571m in revenue, $211m in operating expenses which left
$360m in profits.

And - lets not forget that Cal is NOT the owner, that's still Janice until further notice.

I don't know how the McNair's share the proceeds .... but $360m is more than enough to keep them all living the high life.
Since you mentioned the founders widow a question just occurred to me ?
With big Bobby now in the hereafter I dunno maybe she's got a new feller or maybe she's looking for one ?
So that would be one to way to potentially change the makeup of the Texans" ownership.
 

Double Barrel

Texans Talk Admin
Staff member
Contributor's Club
I don't have a dog in this hunt, but I do remember details.

McNair and Ken Lay were buddies. Lay was part of McNair's team to bring the NFL to Houston. Confirmed by the WSJ (Nov. 2, 1998):

"The transaction (Enron buying Cogen) comes at a time when Cogen's Chairman and Chief Executive Robert McNair is pulling out all the stops to convince the National Football League that he has the money, time and the stadium to bring a franchise team to Houston. Enron's Chairman and CEO Ken Lay has also been behind that effort, raising about $35 million as the de facto leader of a sports partnership in Houston." WSJ

Ken Lay was a minority owner in the Houston Texans before the fall of Enron.

According to Forbes:

"Cogen Technologies founder sold nation's then-largest privately held power company to Enron for $1.5 billion in 1999; took cash and stock."

I've read other places that mention stocks as being part of the sale, too, fwiw.

As far as "dirty money", I doubt there is a billionaire alive today that could avoid that description. That kind of wealth is built on the backs and labor of ordinary people. That's the way it's always been. It's a terrible system, but still the best one humanity has to offer.

Enjoy your football. :)
 

Texazan

Our HOF 34
Then tell me who bought Cogen from ENron and when did the buyers sell the stock acquired in the sell of Cogen. Of course you probably believe in rainbows and unicorns. BTW, I went to highschool and I'm friends with one of the guys that was brought up on federal charges and got probation.
Irony....if I'm doing it right and following your edict here on the board its all about who you associate with isn't it? You and CJ are both bad guys eh?
 

Dejaview

All Pro
I don't have a dog in this hunt, but I do remember details.

McNair and Ken Lay were buddies. Lay was part of McNair's team to bring the NFL to Houston. Confirmed by the WSJ (Nov. 2, 1998):

"The transaction (Enron buying Cogen) comes at a time when Cogen's Chairman and Chief Executive Robert McNair is pulling out all the stops to convince the National Football League that he has the money, time and the stadium to bring a franchise team to Houston. Enron's Chairman and CEO Ken Lay has also been behind that effort, raising about $35 million as the de facto leader of a sports partnership in Houston." WSJ

Ken Lay was a minority owner in the Houston Texans before the fall of Enron.

According to Forbes:

"Cogen Technologies founder sold nation's then-largest privately held power company to Enron for $1.5 billion in 1999; took cash and stock."

I've read other places that mention stocks as being part of the sale, too, fwiw.

As far as "dirty money", I doubt there is a billionaire alive today that could avoid that description. That kind of wealth is built on the backs and labor of ordinary people. That's the way it's always been. It's a terrible system, but still the best one humanity has to offer.

Enjoy your football. :)
Sold for cash and 350mm debt transfer
 

heymak

"I know nothing!"
I should stay out of business discussions. I went down the rabbit hole and found multiple articles stating all cash or cash/stock or cash/debt. Forbes had separate articles stating either of the first two. Business reporting is too muddy for me to follow . Sorry for wasting your time.
 

Dejaview

All Pro
I should stay out of business discussions. I went down the rabbit hole and found multiple articles stating all cash or cash/stock or cash/debt. Forbes had separate articles stating either of the first two. Business reporting is too muddy for me to follow . Sorry for wasting your time.
only Stock references I saw for Enron‘s Cogen purchase is Enron selling 135mm in stock plus borrowings to finance the deal’s cash ( non debt) component. Saw a report of Enron stock being used as collateral no doubt for loans to come up with the cash Which is usually how stock is used in purchases. In any event I doubt the NFL’s criteria for determining the wealth of those bidding for the new franchise would put any weight on stock holdings as a major source (see Budweiser) of working capital.
 
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