{"id":2661,"date":"2002-08-05T18:21:09","date_gmt":"2002-08-05T18:21:09","guid":{"rendered":"http:\/\/staging.armedliberal.com\/?p=206"},"modified":"2002-08-05T18:21:09","modified_gmt":"2002-08-05T18:21:09","slug":"it%c2%92s-all-bizness-as-they-say","status":"publish","type":"post","link":"https:\/\/marcdanziger.com\/?p=2661","title":{"rendered":"IT\u0092S ALL BIZNESS, AS THEY SAY"},"content":{"rendered":"

Catching up on my blogging, I read Ted Barlow<\/a>, who comments on and takes me back to Diane E.<\/a>, who comments on Mickey Kaus<\/a>. The subject??
\nGeorge W\u0092s 10% partnership interest in the Texas Rangers baseball team, and Kaus\u0092 defense of it, which is hammered on by Ted and Diane.
\nSadly, this is a case of Too Little Knowledge on their part. Here\u0092s the deal; I\u0092ve spent the last year trying (unsuccessfully so far, but I\u0092m not done yet) to raise a bunch of $$ to start a business. Here\u0092s how these deals work: there is a division of ownership between capital \u0096 the folks putting up the green \u0096 and labor \u0096 me and the rest of the management team (actually, to connect to an earlier discussion with Kevin R., there is a further division with \u0091intellectual property\u0092, with the folks (me, in this case) who came up with the idea getting an additional share).
\nWhat the management team and founders get is called various things, but a \u0091promoted interest\u0092 is typical. It is a percentage of ownership in the company that we get, not in the form of options, but typically in the form of outright grants. It is very typical for the promoted interest to be subordinate to the investor\u0092s capital and a defined return \u0085 essentially they \u0091loan\u0092 the money, secured only by the \u0091value\u0092 of the company, so they get their cash out and some interest rate. Then they share the income and value, withthe ‘labor’ side getting their for the work they did in putting the deal together and in advancing the interests of the company.
\nThis is absolutely a generic prototype for buying a business, and anyone who is in business could tell you so. Bush wasn\u0092t \u0091gifted\u0092 with his 10%, he earned it just like Jeff Bezos did.
\nNow why they chose Bush as the promoter, what other financial relationships the investors may have had with him, his dad, or his later campaigns, I can\u0092t speak to, because I don\u0092t know. There may be oodles of sleaze buried in there waiting to be discovered. There probably is.
\nBut if our team attacks him on this point, we\u0092re going to look really damn silly. Let\u0092s avoid that, OK?<\/p>\n","protected":false},"excerpt":{"rendered":"

Catching up on my blogging, I read Ted Barlow, who comments on and takes me back to Diane E., who comments on Mickey Kaus. The subject?? George W\u0092s 10% partnership interest in the Texas Rangers baseball team, and Kaus\u0092 defense of it, which is hammered on by Ted and Diane. Sadly, this is a case […]<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/marcdanziger.com\/index.php?rest_route=\/wp\/v2\/posts\/2661"}],"collection":[{"href":"https:\/\/marcdanziger.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/marcdanziger.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/marcdanziger.com\/index.php?rest_route=\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/marcdanziger.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2661"}],"version-history":[{"count":0,"href":"https:\/\/marcdanziger.com\/index.php?rest_route=\/wp\/v2\/posts\/2661\/revisions"}],"wp:attachment":[{"href":"https:\/\/marcdanziger.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2661"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/marcdanziger.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2661"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/marcdanziger.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2661"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}