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  1. #40
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    Re: Delicious Irony: Tennessee is almost "out of business."

    Quote Originally Posted by TIDE-HSV View Post
    I sent a daughter to two degrees at UT because her major wasn't available in the state of Alabama, and what she's doing today is a direct result of those degrees. Sometimes, academics have to trump emotions and loyalty...
    I agree. I could care less if UT ever wins another game or fields a competitive team, but I do not want them to go out of business.

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  3. #41
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    Re: Delicious Irony: Tennessee is almost "out of business."

    Although "hate" is a strong word, for me it's the only word I can use to describe my feelings towards the orange puke (football program) in general (and some of their past players and coaches in particular); Tennessee is a very strong academic institution, but I would lose no sleep if their football program folded it's tent and threw away all the fake teeth they have started passing out to fans at football games (at least the ones on TV). That, to me, is the essence of karma.

  4. #42
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    Re: Delicious Irony: Tennessee is almost "out of business."

    Well, at least now we know why CNS was invited to speak at the McMinn County CoC dinner. They want to borrow some money from him.

  5. #43
    BamaNation All-SEC jabcmb's Avatar
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    Re: Delicious Irony: Tennessee is almost "out of business."

    I don't know anything about their financials or if they have timing issues, but I guess they could convert some of their current liabilities to long term debt if they had to.

  6. #44
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    Re: Delicious Irony: Tennessee is almost "out of business."

    Quote Originally Posted by TIDE-HSV View Post
    Consider it verified... Actually, we're just slightly under that, but not by much...
    I had no idea we were sitting on that big of a gold mine. Wow...
    "Football is a hard game. These spread coaches forget that. Until good defenses remind them." Gene Stallings

  7. #45
    Senior Administrator TIDE-HSV's Avatar
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    Re: Delicious Irony: Tennessee is almost "out of business."

    Quote Originally Posted by jabcmb View Post
    I don't know anything about their financials or if they have timing issues, but I guess they could convert some of their current liabilities to long term debt if they had to.
    I'm not sure how they would do that. Both our EZ renovations stand good for the bond issues funding each. Long term debt is always collateralized, even if only theoretically. (The folks buying our bonds understand they wouldn't be able to foreclose on an end zone.) Also, it's usually done with a separate bond-issuing authority set up for each project. I suppose they could mortgage their whole stadium, but I doubt that they have the authority to do that...
    "The cure for boredom is curiosity. There is no cure for curiosity. - Ellen Parr"

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  8. #46
    BamaNation All-SEC bamaslaw's Avatar
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    Re: Delicious Irony: Tennessee is almost "out of business."

    Quote Originally Posted by TIDE-HSV View Post
    Written by people ignorant of accounting. Our debt is long-term bond issues to cover the last two expansions, which, given recent history, we'll pay off early. We could have paid cash, but bonds made more sense because, given current interest rates, it's almost free money. The new weight facility, IIRC, was covered by advance pledges. UT's problem is what's called the "quick ratio," in accounting terms and they have to turn things around soon or the state will have to start subsidizing the football program (the way we do UAB), instead of the football program helping fund the university, as in Bama's case...
    There's also a HUGE difference of having debt of 200 million when you have 80+ million in cash reserves vs. 2 million. That article is silly.

  9. #47
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    Re: Delicious Irony: Tennessee is almost "out of business."

    I hate to see any state school get into financial difficulty because of the football program. I have one of those degrees from UT that I couldn't get anywhere else. I hate the Vols, not the University of Tennessee.

  10. #48
    Senior Administrator TIDE-HSV's Avatar
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    Re: Delicious Irony: Tennessee is almost "out of business."

    Quote Originally Posted by bamaslaw View Post
    There's also a HUGE difference of having debt of 200 million when you have 80+ million in cash reserves vs. 2 million. That article is silly.
    We actually have just under 120 million...
    "The cure for boredom is curiosity. There is no cure for curiosity. - Ellen Parr"

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  11. #49
    BamaNation All-American BamaFlum's Avatar
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    Delicious Irony: Tennessee is almost "out of business."

    Quote Originally Posted by TIDE-HSV View Post
    We actually have just under 120 million...
    That's really amazing. I wish our politicians could run the government that efficiently. Forget I said that! I don't want this on the NS board!
    RTR!

  12. #50
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    Re: Delicious Irony: Tennessee is almost "out of business."

    Their main problem is they dont generate the same revenue that we do in their seating rights - Tide Pride. Seems like a few years ago they wanted to institute a similar program to what we have which was going to cause a lot fans who hold the premium seats fork a lot of money each year. A UT friend of mine said that a lot of the seating was a legacy thing - seats passed from generation to generation and those folks who were contributors to some degree on the academic side pretty much told the AD they could shove it. UT had to back off that plan...

    He told just as they did with the seat numbers that they pushed as much of the burden onto the blue-collar fans that occupy the less desirable seats (because they could be pushed around). So now what they are left with is a substantial group of entitled fans holding the most valuable seats, the "joe" fans paying higher than average rights to season tickets and when those "joe" fans have a household income issue come up (as many have in the last 5 yrs) the first thing to go is the luxury items. Hence, all the empty seats. Their problem is compounded by losing - but given the way they have it setup, as I remember, they would still have a problem if they were winning at a high level.

    If you really read what was published, UT cant sustain their program unless they are going to a BCS game every year. You cant survive on that sort of business model...

  13. #51
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    Re: Delicious Irony: Tennessee is almost "out of business."

    I realize that it will be a small portion of the overall debt, but, how much do you think they have paid out in legal fees the keep Phatso from testifying. To my knowledge he has never had to speak, even after the subpoena. If I am wrong, I apologize.

  14. #52
    BamaNation All-SEC jabcmb's Avatar
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    Re: Delicious Irony: Tennessee is almost "out of business."

    Quote Originally Posted by TIDE-HSV View Post
    I'm not sure how they would do that. Both our EZ renovations stand good for the bond issues funding each. Long term debt is always collateralized...
    Down here in Jefferson County, we collateralize air! Then we tell our bondholders if they ever get anything, their return is infinity! TN could try that.
    Seriously, their assets (not liabilities) are out of kilter because they're not winning. Nothing that a few winning seasons wouldn't fix. Not that I would ever want that to happen.

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