"make $150000 to $400000 in profit a year". Joe Newman on ABA franchise

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Paul S
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"make $150000 to $400000 in profit a year". Joe Newman on ABA franchise

Post by Paul S » Wed Jan 25, 2012 4:36 pm

He had outdone himself this time

Other zingers
- the league is profitable
- the league fizzled out in 2005 then Newman took over and turned it all around
- national sponsors and merchandise
- joe now finances new owners

http://www.richmondbizsense.com/2012/01 ... her-dream/
Mean Spirited Blogger Number 14

"If games are missed, it hurts no one" ...... ABA CEO Joe Newman 2/9/09

Due to numerous threats of legal action from certain people.......all of the above is my opinion only and it should be noted that I have never invested in the ABA. It is simply one mans opinion.

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Sam Hill
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Post by Sam Hill » Wed Jan 25, 2012 7:18 pm

"Patterson would not share player salaries, revenue figures or profit projections."

Well, Newman already told you the profit projections! $150,000 to $400,000! But only if you market it right!

Because that's been the problem with minor league basketball teams since the beginning: none of them have ever made $400,000 profit in a year because they haven't followed the Joe Newman McDonald's/Walmart Marketing Playbook!

Joe's shameless. I'd ask if he's the bigger idiot or the reporter is, but it's obvious the reporter is. He covers business and can't do the slightest bit of research to see what's actually happening? Does he think that with 400 people a game they're going to make $400k in profit?

How stupid are people?
Old enough to remember when bashing the ABA was fun.

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Post by The Sweeper » Wed Jan 25, 2012 10:37 pm

You can promote and market the hell out of a team, but if the opponent fails to show up for even one game, all that promotion, and some of your credibility, goes straight down the toilet. After 2 or 3 no shows, you’ve got nothing. Literally.
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Honored to have been the 13th player for the Vermont Frost Heaves game on 2-16-07 against the Maryland Nighthawks.

The ABA is the basketball equivalent of Amp'd Mobile.

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"make $150,000.."

Post by poppajohn » Thu Jan 26, 2012 1:49 pm

I've answered an internet ad that promises a fortune while working at home only 30 minutes a day. As soon as the money starts pouring in I'll buy an ABA franchise. Maybe two or three.

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Post by SignGuyDino » Thu Jan 26, 2012 10:39 pm

Now that Don LaPre is dead, maybe Newman can include "tiny ads in thousands of newspapers" in his marketing campaign.
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Post by panchess » Sat Jan 28, 2012 6:12 pm

I am sure the ABA is making money. Joe Newman doesn't do much of anything without his hand out. In any event, doesn't the ABA have to report p/l as a public corporation?

I doubt any of the teams are making any money though.

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Post by LightningMan » Sun Jan 29, 2012 12:42 pm

[quote=""panchess""]In any event, doesn't the ABA have to report p/l as a public corporation?[/quote]
Now that they are listed and traded on the pink sheets, any reporting is purely voluntary and any investment in them is without the stock protections that standardly traded companies enjoy.

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