IN DEFENSE OF KAY-Z

Wanye
September 15 2011 11:17AM

Is this really how the arena talks are going? Now some tiny minds on City Council and the long ignored factions in the Edmonton Media are upset that Katz bought a condominium in Vancouver? Good heavens.

Earlier in the week the massive story broke that arguably the richest man in Edmonton also has a condominium in Vancouver now. This should obviously grind all talk of public money going into an arena to halt and the team should be forced to cease operation as of 3 PM EST today.

In addition, Katz house in Edmonton should be tagged with a giant "LIAR" and all his assets should immediately be seized and applied to a special Pothole Fund.

IT BOGGLES THE MIND

Says the Edmonton Journal:

"Has Oilers owner Daryl Katz quietly shifted his home base to Vancouver? That’s the rumour that has circulated in local business circles for months. And while several sources tell The Journal the reclusive drugstore tycoon now spends most of his time on the West Coast, where his children attend school, it’s unclear how much time he still spends in Edmonton."

The story starts out reasonably enough even if a high profile Edmontonian having homes all over hells half acre wouldn't ordinarily be news. But Katz owns the Oil, which puts him squarely in the spotlight whether he wants to be or not. And he is seeking public money for an arena that should open in about 2056 if this pace of play continues.

Fair enough.

This must be a recent move to merit all of the attention right?

“A couple of years ago, he bought the top floor of the Pacific Rim hotel/condo project, on the waterfront right next to the Vancouver Convention Centre. He is going back and forth and his Edmonton house is still fully staffed, including his security.”

A couple of years ago? The guy has been shuttling back and forth - roughly 45 mins in a cool gold jet we imagine - and Edmonton's media, political folk and business community are finding out about it now? Clearly out of the loop, how do they react?

Like crazy people it would seem.

ENTER COUN. ED GIBBONS

"Coun. Ed Gibbons, who has raised questions about the way the negotiations have been handled and alleged a lack of transparency from Katz, said he’s troubled by the rumours. “Wasn’t it always Katz’s reasoning that he’s a proud Edmontonian and he’s doing this for Edmontonians and for northern Alberta?” he asked.

“I guess if you say it enough times and loud enough, maybe people believe you’re an Edmontonian. I don’t blame him. With his kind of money you can have houses in Palm Springs or wherever. But it’s pretty clear when you move your kids out of the city to go to school elsewhere, this isn’t your permanent home anymore.”

Are these really the words of someone elected to represent the interests of Edmonians at the highest level? What does Gibbons want to do exactly? Handcuff Katz to the food court in Phase II at WEM? Encase him in bulletproof glass in Churchill Square so he can drive by and nod gravely as he leaves City Hall?

'To be an Edmontonian you must live here 365 days of the year. We may allow for a two week vacation at some point in the year, but will need you to fill out some forms in advance. We want everyone in our City to succeed, but if that success takes you out of town on a regular basis for any reason, well we just don't play that way up here' seems to be the thinking. If the goal of the comments was to take pettiness and small minded thinking, put it on the National Stage under a banner marked "Edmonton" than mission accomplished Gibbons.

Oh please let you run for Mayor one day Ed. We need this broad strategic thinking at the highest post in the land if we are to get anywhere.

CLASSY PLAY

We don't give two squirts where Katz lives. The guy is a Billionaire - he uses a private jet like a taxi cab. Prominent Edmontonians and media folks making an issue about this is a prime example of the obstacles our fine City will have to overcome if we are going to become a world class centre of commerce and lifestyle in the next 25 years.

Of all the folks involved with the Oilers we would love to see living in Vancouver - Katz certainly isn't it. Tom Gilbert springs to mind as a better candidate, or perhaps Khabibulin would like to live out there while plying his trade. We are more concerned with the performance of the team and the construction status of the arena than where the owner is living on any given day.

NO SALE

Innuendo about Katz wanting to sell the team is another hearty knee slapper. Who on earth would buy our beloved Oilers should they go up for sale? Remember that the vast majority of uber-successful Edmontonians pick up and leave the minute their bank account reaches baller status. The Bill Comries and the Pat Bowlens - ultra rich Edmontonians with a penchant for sports team ownership - scooted out of town for reals.

Katz stays - at least part time - and chucks 200 million at the team and another 200 million at an arena project and is rewarded richly with suspicion and back chatter from tiny minded folks who would no sooner understand life at that level of success than we would.

Those knocking Katz for living in several cities had better hope that the man doesn't actually want to sell the team. Because the list of potential owners would be zero, those who may have considered it must watch how Katz has been showered with aggrevation since he bought the team and would now think twice. It's an incredibly expensive and thankless job it seems.

And petty minded Councillors would then watch the team sail out of town and could get back to asking for pothole filling updates and reports on the brain drain out of town.

Small market syndrome lives in the hearts and minds of too many in Edmonton. Those of us who feel differently need to speak up too, lest they think they are speaking all our behalf.

09049f03ecb006ab29372206f2a88f75
Blog so hard motherf**ckers try and find me. Email me at wanyegretz@gmail.com or tweet me @wanyegretz provided it is about Jordan Eberle or babes.
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#51 Puritania
September 15 2011, 08:41PM
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I haven't been acknowledged by Wanye in quite some time...

*wipes tear of sorrow*

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#54 Chris.
September 15 2011, 09:15PM
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@Wanye

I have no problem with Katz living elsewhere. I do, however, have a small problem with him playing the "I'm living and raising my family in Edmonton" card when he doesn't. Seems dishonest. If Katz didn't want people to care about where he lives, he and his mouth piece Stauffer should not have raised the issue so much in the first place. I sure remember how Katz was a 100% full time Edmontonian when he was seeking support to purchase the team from the EIG... and then later when he initally announced his vision for the arena project.

You don't have to be suffering from "small market syndrom" to hate being lied to.

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#55 Wanyes bastard child
September 15 2011, 09:15PM
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Wanye wrote:

I have half a mind to single handedly build high speed internet access at your new place to get you back on here more.

*immediately wins imaginary father of the year trophy*

Actually, the new place has the best that shaw can offer for the interwebs but the thought is a nice one :)

I can youtube like a madman now unlike the waiting half an hour for a 30 second clip to buffer...

I been around and reading daily, just don't post as much, what can I say it is the off season eh ;)

Besides any insightful commentary I would make has already been said by the likes of Arch, Crash, John Chambers and a few others plus the sarcastic comments are beaten to the punch by bookie and cable guy.

Mostly I just hang around for the chance to Fist David S ;)

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#56 K-UGER Industrial Smoothing
September 15 2011, 09:49PM
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BRAVO MR WANYE, BRAVO!

Far too many Edmontonian are reserved and conservative in thought. Its about time we got with the times, otherwise we're going to be left behind by the Vancouvers, and be placed with the stinky Reginas. And NOBODY wants to be compared to with a stinky Regina...

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#57 Puritania
September 15 2011, 11:07PM
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Wanye wrote:

I think you are just swell FYI. When I was going through your garbage looking for documents to aid me in identity theft I thought to myself "Ol' Puritania is some kinda beauty." Then I found all those 2006 credit card statements and I knew we would be linked together forever.

END SCENE

Cry for Wanyes attention, check.

Recieve Wanyes attention, check.

Squee, check.

My credit card statements you say? I'll have you know that in 2006 when I bought that guide to Genital Retraction Syndrome I was doing research for a paper! And when I bought that medicine for Hypertrichosis I was again doing research for a paper! And when I bought that book called "Living with Cotard delusions" I was doing more reasearch for anoth...sigh, it was a confusing year for me ok? Stop judging me!

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#58 OutDoorRink
September 15 2011, 11:39PM
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This from an article in Van Sun a few days ago. Hope it's okay to post this on here. Gibbons complaining about a 1.6M lawyer bill.

“If Mr. (Daryl) Katz wants the deal, why isn’t he paying for some of the costs?” Gibbons asked. “I’m not seeing him coming up with a lot of money.”

The city is hoping to build a $450-million hockey arena downtown in partnership with the billionaire Oilers owner. The Katz Group has pledged to contribute $100 million, while $125 million would come from the city, and another $125 million is expected to come from a dedicated user fee of $5 to $7 per ticket."

Katz not only putting the team on the payroll, he's throwing in another $100M for the new arena, and Gibbons says he's not coming up with a lot of money. How stupid is this guy? Is he the bus driver or the teacher?

There's more.. "Coun. Kim Krushell said she is “a little surprised” at the total, but said councillors need to remember much of these costs were generated by their own requests for information, including a substantial request from Gibbons.

“Council asked for detailed information, including hiring outside help to go review Katz’s financials. There’s all kinds of consulting we’ve asked for to ensure due diligence on any deal that we actually finalize,” she said."

That all kind of explains itself. Gibbons is guilty of ringing up the bill and then crying when somebody else won't pay for it. How insulting for Katz that The Gibster is looking into his financial integrity.

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#59 overabarrel@shaw.ca
September 16 2011, 05:12AM
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#60 spOILer
September 16 2011, 05:34AM
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“Council asked for detailed information, including hiring outside help to go review Katz’s financials. There’s all kinds of consulting we’ve asked for to ensure due diligence on any deal that we actually finalize,” she said." That all kind of explains itself. Gibbons is guilty of ringing up the bill and then crying when somebody else won't pay for it. How insulting for Katz that The Gibster is looking into his financial integrity.

These series of statements are as about as economically stupid as they come. The taxpayer is bearing the cost of finding whether it's a good idea that the taxpayer should bear further, much larger costs? WTF? And we're criticizing elected representatives who actually do their job and point out the theft? We justify it by saying we do it for other rich playas? Do we actually like to have money stolen from our pockets that badly? Lemme know if there's any of you out there that do, I can stop by on my way to work and give you a proper good fleecing.

Of course when Joe Taxpayer shows up to get a permit or a license or whatever, and surveys, reports whatever are needed... guess who pays?

Wanye said...

Earlier in the week the massive story broke that arguably the richest man in Edmonton also has a condominium in Vancouver now. This should obviously grind all talk of public money going into an arena to halt and the team should be forced to cease operation as of 3 PM EST today.

Good. I mean I don't give a flying f7ck where Katz lives. It should be his choice. I'm not happy about the misrepresentation, but that's par for the course for a guy begging at the public trough with no transparency whatsoever. And I'm actually fine with his lack of transparency. It should be his choice too, just as it should be ours on whether or not to give him our hard-earned tax money.

So yeah good, if it grinds the talks of public--our--money being handed over to the billionaire to a screeching halt.

We're sitting in the midst of a 4 year long financial crisis and everyone wants to continue doing more of what got us into this mess.

Smaaaart.

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#61 The Beaker
September 16 2011, 07:07AM
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@spOILer

You, sir, live up to your name.

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#62 -30-
September 16 2011, 07:12AM
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Absolutely brilliant post!

Talk about preaching to the converted. This is kind of like talking about Peter Lougheed at the Alberta PC leadership convention. You just can't go wrong by doing that.

If you want a balanced take on the whole Katz thing, you don't listen to the paid sychophants, Stauffer and Tencer just like you don't go to a PC leadership convention if you want a balanced look at politics.

Gregor has the best and most balanced take on the whole situation. Everyone else makes themselves look incredibly stupid when they post with their hearts an not their heads. Back atcha Wanye. LOL

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#63 dawgbone
September 16 2011, 07:32AM
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PK wrote:

If the arena project does not move forward the Oilers will not remain in Edmonton and that is reality. No arena, no Edmonton Oilers

Dont' these councillors understand the billion or so dollars of tax uptick that will happen with the arena project. Sigh... That is what you get when bus drivers and teachers represent you on city council

Where are they going to go?

Is someone going to displace one of the top 10 revenue generating teams in the league?

When teams like Phoenix and Dallas are in much worse positions, an Oilers move seems unlikely.

As for the billion dollars of uptick, there's little evidence of that, which is a big part of the problem.

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#64 dawgbone
September 16 2011, 07:34AM
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OutDoorRink wrote:

This from an article in Van Sun a few days ago. Hope it's okay to post this on here. Gibbons complaining about a 1.6M lawyer bill.

“If Mr. (Daryl) Katz wants the deal, why isn’t he paying for some of the costs?” Gibbons asked. “I’m not seeing him coming up with a lot of money.”

The city is hoping to build a $450-million hockey arena downtown in partnership with the billionaire Oilers owner. The Katz Group has pledged to contribute $100 million, while $125 million would come from the city, and another $125 million is expected to come from a dedicated user fee of $5 to $7 per ticket."

Katz not only putting the team on the payroll, he's throwing in another $100M for the new arena, and Gibbons says he's not coming up with a lot of money. How stupid is this guy? Is he the bus driver or the teacher?

There's more.. "Coun. Kim Krushell said she is “a little surprised” at the total, but said councillors need to remember much of these costs were generated by their own requests for information, including a substantial request from Gibbons.

“Council asked for detailed information, including hiring outside help to go review Katz’s financials. There’s all kinds of consulting we’ve asked for to ensure due diligence on any deal that we actually finalize,” she said."

That all kind of explains itself. Gibbons is guilty of ringing up the bill and then crying when somebody else won't pay for it. How insulting for Katz that The Gibster is looking into his financial integrity.

When all is said and done, who gets the arena? The Katz group gets it rent free for 48 weeks of the year (though they are responsible for maintenance), the city gets it 4 weeks of the year.

Based on that, shouldn't Katz be ponying up more than 1/3rd of the cost?

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#65 Clyde Frog
September 16 2011, 07:53AM
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@dawgbone

Ummm, no?

He is also the owner of the only item that can make the venue profitable and attractive to users located in Edmonton for more than 6 weeks a year...

This whole argument is a joke, should we hand him 1/2 a billion in tax money to roll around on and build a toy castle with? No...

Should we sit here and pretend our 40 year venue is totally awesome and will be good for another 40? Well, pretty much no-one is saying it will work for that. Even Northlands has tried to jump ship in positioning itself as the potential management group of any new construction.

Surest sign a new venue would be a boon? The fact that everyone involved with Northlands has claimed it will basically shutdown without Oiler's revenue and support in attracting people.

Long story short : New venue == good. Who will pay for it? Probably; partially the oil fields(IE Prov. Gov), Katz and the city. If you cry or lose sleep over this will it affect what happens one bit? Nope.

My recommendation if this gets you angry; take 3 deep breaths, a short nap, and go have a beer with your friends... It will impact your life more than the arena debate ever will.

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#66 The Towel Boy
September 16 2011, 08:34AM
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I lose sleep at night wondering where Billionaires live.

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#67 OutDoorRink
September 16 2011, 10:43AM
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spoiler said

"These series of statements are as about as economically stupid as they come. The taxpayer is bearing the cost of finding whether it's a good idea that the taxpayer should bear further, much larger costs? WTF? And we're criticizing elected representatives who actually do their job and point out the theft?"

Small minded people like this make me laugh. Insults make them feel better about themselves. So typical. Poor taxpayers, they should just shut up and fill pot holes. Don't pay taxes towards something that will actually make your city a better place to live, just fill pot holes. Are you The Gibbers PR man?

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#68 Greg MC
September 16 2011, 12:44PM
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I want a new arena, they can take whatever amount of taxes that I would be contributing to the RAM and put it towards the new ice palace.

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#69 OutDoorRink
September 17 2011, 01:12PM
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I don't pretend to understand everything that is at work here, but I'm quite sure of two things. Firstly, I'm quite sure that Mr. Katz is not in the business of running the Oilers as some kind of subterfuge for ripping off the public in Edmonton. And secondly, I'm quite sure that a lot of this jockeying by politicians, is simply a way to get their name in the press by inventing conflict and then standing up to the big bad rich guy.

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#70 bathoryoil
September 17 2011, 01:59PM
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@Chris.

he might still lives here couple time but this was for his son to go to a good school

okey

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#71 bathoryoil
September 17 2011, 02:30PM
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@The Towel Boy

Hey it is stupid ,this was meant for his son to go to a good school.

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