  Verifiable Member Username: Verifiable Post Number: 80 Registered: 05-2007 |
http://www.freep.com/apps/pbcs .dll/article?AID=/20071104/NEW S05/711040626/1001/NEWS Ilitch spokeswoman brags he gives away $4.4 million per year. On revenues of $1.6 billion that's a pathetic 0.27%! If he gave 5% away, that would be $80 million. Heck he gets more than $4.4 million a year in local and state tax breaks and in taxpayer subsidies to acquire, demolish or in a few cases renovate structures in Foxtown. | ||
Crumbled_pavement Member Username: Crumbled_pavement Post Number: 33 Registered: 08-2007 |
How much are you giving away? | ||
Gistok Member Username: Gistok Post Number: 5647 Registered: 08-2004 |
... and yet MotorCity Casino is one of the top 5 casinos in the country in contributions to the United Way... | ||
Verifiable Member Username: Verifiable Post Number: 81 Registered: 05-2007 |
So Karen Cullen says ... | ||
Viziondetroit Member Username: Viziondetroit Post Number: 1278 Registered: 11-2003 |
Verifiable.... it would be perfect world if all companies gave away a nice chunk of change. The reality is that... people are in business to make money, not give it away. I'm not an Illitch fan by any means, but he coulda just said F____ it and kept his psaltry 0.27% VOLUNTARY donations to himself. Did you give away 5% of your money last year? | ||
Perfectgentleman Member Username: Perfectgentleman Post Number: 4803 Registered: 03-2006 |
Of course Ilitch has been one of the relatively few private investors that has stayed loyal to Detroit for years. He could have left long ago and nobody would blame him except the ingrates on this site. He has done more for the city than all of the people on this forum will do in their entire lifetimes combined. (Message edited by perfectgentleman on November 04, 2007) | ||
Mikeg Member Username: Mikeg Post Number: 1244 Registered: 12-2005 |
quote: "Revenue" is the "top line" or "gross income" figure from which costs are subtracted to determine "net income". Only an economic illiterate or someone with an ax to grind would compute a charitable giving percentage using "revenue" instead of "net income" | ||
56packman Member Username: 56packman Post Number: 1877 Registered: 12-2005 |
The easiest thing in the world to do is to tell a wealthy man how he should spend his money. Mike doesn't tell you how to spend your money ($5 pizza, hockey and baseball tickets are discretionary expenditures), you shouldn't tell him how to spend his. | ||
Verifiable Member Username: Verifiable Post Number: 82 Registered: 05-2007 |
If they gave away $4.4 million annually and that equalled 5% of net revenues; then net revenues would be $88 million. So who's the fool that thinks they're only netting $88 million on revenue of $1.6 billion? That's 5.5%! Are the various Ilitch enterprises leveraged (carrying debt) that heavily? Analysts say MotorCity Casino alone nets $425 million per year (some say closer to $500 million). If they gave away just 5% of net revenues from the Casino, that would be $21.25 million! A Forbes 2004 sample of some of the richest Americans indicates that 20 of them gave away an average of 14% of their wealth with one giving as high as 64% and one giving nothing. Both the mean and median among these 20 billionaires were 4%. | ||
Patrick Member Username: Patrick Post Number: 5104 Registered: 10-2003 |
Who cares what they give away? It's none of your business. It's a free country and they are free to do what they like with their cash. | ||
Kaptansolo Member Username: Kaptansolo Post Number: 293 Registered: 07-2007 |
I agree....perhaps it is none of our business what they give away or do not giveaway. Maybe....and I am just spit-balling here....Mike along with others need to stop telling what they give away. If it is going to be none of our business then it should be none of our business. It sometimes seems like they do this for the purpose of "boasting"....IF you tell no one...no one can criticize and no one can congratulate either. then we can all shut up about this... (Message edited by Kaptansolo on November 04, 2007) | ||
Jt1 Member Username: Jt1 Post Number: 10674 Registered: 10-2003 |
quote: Loyal? The city is more loyal to Ilitch than Ilitch is to the city. Don't blindly tell us about this saviour without knowing the facts. The city has made the business much better for the Ilitches than any other city on the face of this earth would do. | ||
Perfectgentleman Member Username: Perfectgentleman Post Number: 4804 Registered: 03-2006 |
That is BS. I didn't see anyone else willing to invest that kind of money in to the Fox. It would be another empty dump right now if it wasn't for Illitch. You act as if there are people lining up to invest in the city. | ||
Chitaku Member Username: Chitaku Post Number: 1689 Registered: 03-2006 |
mike does a lot of good for the city, but he also does some bad which overshadows the good (shitting on tiger stadium) | ||
Jt1 Member Username: Jt1 Post Number: 10676 Registered: 10-2003 |
You act as if the city has not given Ilitch a fortune and continue to subsidize everyone of his undertakings in the city. You act as if the city does not look the other way on the condition of most of his properties. You act as if the city ignores his illegal demolition of his buildings, etc. I may allow my dislike of Ilitch to fog my opinion but you are just as guilty of letting your dislike of the city fog your opinion. Ilitch would not be able to do what he does in any other city and he certainly wouldn't be annointed a saint by people like you in any other city. Your bias is showing through in a disgusting manner. | ||
Fnemecek Member Username: Fnemecek Post Number: 2591 Registered: 12-2004 |
quote: And we're free to criticize them for what they do or don't do. That's the other side of living in a free country. | ||
Jt1 Member Username: Jt1 Post Number: 10677 Registered: 10-2003 |
You act as if the city has not given Ilitch a fortune and continue to subsidize everyone of his undertakings in the city. You act as if the city does not look the other way on the condition of most of his properties. You act as if the city ignores his illegal demolition of his buildings, etc. PS - Forbes invested most of the money into redoing the Fox. Again, you are ignoring facts. Forbes is the reason that the Fox is redone, not Ilitch. I may allow my dislike of Ilitch to fog my opinion but you are just as guilty of letting your dislike of the city fog your opinion. Ilitch would not be able to do what he does in any other city and he certainly wouldn't be annointed a saint by people like you in any other city. Your bias is showing through in a disgusting manner. | ||
Crumbled_pavement Member Username: Crumbled_pavement Post Number: 36 Registered: 08-2007 |
Still Verifiable neglects to tell us about his extremely generous contributions... | ||
Perfectgentleman Member Username: Perfectgentleman Post Number: 4806 Registered: 03-2006 |
OK, so the city would be better off without Illitch. As long as we have people like Jt1, everything will turn out fine. | ||
Beavis1981 Member Username: Beavis1981 Post Number: 624 Registered: 08-2006 |
Mommy! billy's ice cream is bigger than mine! waaaah waaah waaah! No fair! waah waaah waaah! | ||
Crumbled_pavement Member Username: Crumbled_pavement Post Number: 37 Registered: 08-2007 |
Beavis1981 said: "Mommy! billy's ice cream is bigger than mine! waaaah waaah waaah! No fair! waah waaah waaah!" Basically. It's not like Illitch and the city haven't both benefited from the relationship. I guess everyone has to have their hero or saint. | ||
Jt1 Member Username: Jt1 Post Number: 10678 Registered: 10-2003 |
quote: Easy way to avoid the facts of the situation. But if you are going to start it as a personal thing let's hear all of the wonderful things you have done/do for the city. A tigers game a year or so will certainly improve the city. If you want to cmopare contributions to the city post your e-mail and I will happily invite you to the events and organizations I contribute to. Wait, that's actual work or helping. I know you wouldn't be bothered with that. (Message edited by jt1 on November 04, 2007) | ||
Perfectgentleman Member Username: Perfectgentleman Post Number: 4809 Registered: 03-2006 |
I am not the one cutting down people like Illitch, the burden is on YOU to tell US what you have done. | ||
Jt1 Member Username: Jt1 Post Number: 10679 Registered: 10-2003 |
quote: You are the one avoiding the facts and promoting him as a wonderful person and ignoring the wrongs that he has done and the millions that he has benefitted through the city. But you were the one that made this personal so I ask what you have done for the city or any organization in the city. If your memory is so short you are the one that stated" quote: You ignore how much Ilitch ahs gotten from the city, the conditions of his properties in the city, his illegal demolitions in the city. After that you mock what I do for the city but are too cowardly to list your obviously long, beenficial work in the city or for any organization in the city. You talk a big game but you don't do a thing. Kepp patting yourself on the back and whining that you pay too much in taxes. That and 20K a year will pay for your kids education without all of the whining of the poor, victimzed white christian male. | ||
Jt1 Member Username: Jt1 Post Number: 10680 Registered: 10-2003 |
quote: You are welcome to post an e-mail address (hell, make up a silly yahoo account) and I will invite you to every activity I volunteer through or every group I donate money. Are you willing to match me dollar for dollar and minute for minute? | ||
Perfectgentleman Member Username: Perfectgentleman Post Number: 4810 Registered: 03-2006 |
You can volunteer for the rest of your life and it will not amount to 1/1000 of what Illitch has contributed. | ||
Jams Member Username: Jams Post Number: 6805 Registered: 10-2003 |
quote: Might be nice if you could spell the name correctly. | ||
Perfectgentleman Member Username: Perfectgentleman Post Number: 4811 Registered: 03-2006 |
Yeah, that is critical to the matter. Might be nice if you stopped polluting the non-Detroit side with nonsense threads nobody cares about Jams. | ||
Jt1 Member Username: Jt1 Post Number: 10681 Registered: 10-2003 |
quote: Again, that shows how little you know about the subject. My volunteering does not result in illegally destroying buildings, ignoring the historic commission, allowing building to deteriotate, accepting huge subsidies from the state, buying land to knock down buildings and use it as falt, gravel lots, etc, etc. If you knew anything about the matter you could discuss it but you are showing your ignorance. Ilitch has done some good but he has done as much bad while getting $$ from the city. Ilitch has caused a massive amount of blight downtown and continues to do so. I will amend my offer and contribute money to your children's education for every hour you volunteer in the city. We can discuss the going rate for your 'charitable' time. It's a win-win. Benefit for the the city and less whining from you about the cost of tuition. My offer still stands if you want to pass your e-mail but I am 100% certain your efforts for the city do not extend beyond a Tigers game and possibly a drink afterwards. | ||
Perfectgentleman Member Username: Perfectgentleman Post Number: 4813 Registered: 03-2006 |
You tell me I am whining? That's funny. I donate as much time and money to the city as most of the residents there do, in other words, not much. I do have my causes though. (Message edited by perfectgentleman on November 04, 2007) |
