Comments on Advance Indiana™: More On That $33.5 Million Gift To Herb Simon's Pacers

Bob Lutz lives down the street from me. The man is...

2010-07-15T15:09:27.899-05:00

Bob Lutz lives down the street from me. The man is, plain and simple, a douchebag. I live on the west side along the county line, and I would jump and click my heels if he decided to move across the street.

"Herb is trying to position the franchise fin...

2010-07-14T20:44:12.337-05:00

"Herb is trying to position the franchise financially to sell to an outsider rather than keeping it in the family, notwithstanding Morrison's claim that Herb is in it for the long haul, particularly since he's not so young any more at 74."

I wouldn't doubt that everything they are doing is to try to make the Pacers more attractive for a sale, particularly if a prospective new owner wants to move the team somewhere. I wouldn't be surprised if negotiations with a new owner were occurring simultaneously with these "tough negotiations."

Indy Student: Thanks for being out there. I wish...

2010-07-14T10:51:29.441-05:00

Indy Student: Thanks for being out there. I wish we had 20 more your age.

I don't know what Lutz does or doesn't kno...

2010-07-14T00:03:52.321-05:00

I don't know what Lutz does or doesn't know, Gary. But I can say this. In the half a dozen or so times I've been in the room with that man at a committee or council meeting, I never felt that he was paying attention to anyone, especially normal citizens. If he gets an opponent, primary or general, I might actually donate money to that candidate. And that says a lot, coming from the cash strapped 20 something crowd.

That's how it should be interpreted, Unigov; h...

2010-07-13T23:10:06.363-05:00

That's how it should be interpreted, Unigov; however, I believe the state of Indiana once loaned money to Chrysler at one point didn't it? I still remember Councilor Bob Lutz insisting there was no money in last year's CIB bailout ordinance for the Pacers during the public hearing on it. Do you think he will be upset the CIB made a liar out of him?

The CIB does not have the authority to loan money ...

2010-07-13T22:52:59.292-05:00

The CIB does not have the authority to loan money to the Pacers.

Indiana State Constitution:

Article 10, Section 6
Article 11, Section 12

So, what is going on ?

There are just SO many reason to 'love' Ob...

2010-07-13T21:59:25.071-05:00

There are just SO many reason to 'love' Obama.

We so need to get rid of inheritance taxes.

People complain about 'regressive' income taxation, but jeeze, taxing the already-taxed estate of a dead person is just the lowest. And Obama revives it. What a pal.

Your right about the revocable v. irrevocable esta...

2010-07-13T21:38:07.277-05:00

Your right about the revocable v. irrevocable estate. Its revocability makes it part of Herb's estate at death. While the inheritance tax was set to expire under the Bush tax cuts, it springs back into its full fury if Obama gets his way and allows the the abolishment of the tax to sunset.

I think you are on track about selling the team, g...

2010-07-13T21:22:51.561-05:00

I think you are on track about selling the team, given Herb's age. I have never heard much about any Simon children being involved in the franchise that suggested they were being prepped, ala Jimmy Irsay, to take over. I think one daughter has some involvement but it's been ages since I heard any mention of her.

Also, they opted for a Revocable Trust vs Irrevocable so apparently transferring the assets to children isn't the main objective, rather hiding the details from public scrutiny and also letting the terms change so it could be sold outside the family.

But I'm not a lawyer, so maybe I'm all wet on this?