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Around SBN: This Week In GIFs

It's hard out here for a pimp

The economic downturn is causing problems for everyone. Here at Barking Carnival we've had to switch from drinking the tears of indigenous rainforest orphans to Evian. It's a sacrifice we're willing to make.

Athletic departments in the Big 12 are also feeling the pain. None more so than Oklahoma State. T. Boone Pickens pledged $165 million to the school, and then invested the money in his hedge fund along with $37 million from other donors. What could go wrong? Oh. Pickens has lost a billion dollars this year on his investments. So their athletic village has been put on hold.

At Kansas, a booster who pledged $12 million for a football complex had been ousted from his company, and it's now going through bankruptcy proceedings. The field inside Kansas' football stadium was going to be renamed to honor him.

At Oklahoma, a donor who pledged $7 million had to personally sell a bunch of shares of his own company. OU's athletic director declined to say whether or not they had received the money.

Even Texas is feeling the pinch. Not really. They raised $35 million last year and are sitting on a $29 million endowment. There will of course be sacrifices, but they probably won't effect the football program that much.

"We’ll probably see it first in baseball, maybe, and then maybe in basketball," Texas athletic director Deloss Dodds said. "We’ve lost a couple of suite holders in basketball, and I think the economy is part of the reason there. I think people will hold on to their football stuff as long as they can."

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Only $29 million?

by Dr Know on Oct 22, 2008 10:08 AM CDT reply actions  

pork bellies

by Uncle Rico on Oct 22, 2008 10:24 AM CDT reply actions  

orange juice futures

by . . . que te doy tres leches? on Oct 22, 2008 10:29 AM CDT reply actions  

Off topic, HJ, but could you help get the eyes of Dr. Eckleburg down from the top left side of my screen?

I mean, creepy.

by Nick Carraway on Oct 22, 2008 10:32 AM CDT reply actions  

Is the Oklahoma donor Aubrey McClendon? If so, this is one of the shitheels (including David Stern & Clay Bennett) that basically jumped out of an alley, hit Seattle in the head with a sickful of quarters and stole their basketball team. Great picture! This article basically compares the guy to the Dukes:

http://www.statejournal.com/story.cfm?func=viewstory&storyid=45520&catid=159

Karma’s a bitch, you fuck-knuckle.

by SeeingRed on Oct 22, 2008 11:15 AM CDT reply actions  

That’s him.

by HenryJames on Oct 22, 2008 11:44 AM CDT reply actions  

“I’m a karate man! I bleed on the inside! Show no weaknesses!”

by uthookem on Oct 22, 2008 12:20 PM CDT reply actions  

And by a “sickful” of quarters, I mean a “sackful”. I need a spellcheck chip implanted.

by SeeingRed on Oct 22, 2008 12:24 PM CDT reply actions  

Chm, Chm, boys, we all know that money does not grow on trees, but money also does not disappear into thin air, either. All that money has to be going somewhere, and if that many suckers are losing their house and home, then someone has to be making a killing somewhere else. That someone being namely me and my buddies on the down low, he, he, he.

You see, wisdom says that all this show and acts of generosity of mine was just a cover to sucker an extra 37 mil out of a bunch of dumb, penny pinching Okie Pokies. Maybe, just maybe, I don’t happen to love and adore my Okie Pokie fooball team as much as I let on publicly. I may have just gone on with all that show and blow cause that way I get to bang more underaged Okie Pokie cheerleaders and co-eds and cause it is a sneaking and underhanded way to pick pocket 37 mil from my family and my stupid Okie Pokie friends. After all, if it seems as if I am losing my shirt too, then one can beotch and moan and blame me for also pissing away their millions into my, of course, unnamed, off-shore, and well-hidden pick pockets. Ahh, you see, that way I get none of the blame, legal liabilities, or grief, but my greedy little senile, geezer hands stills gets hold of all that dough. See how much of a smarty pants I am. And you boys thought that becoming a billionare was through hard work and luck. Nope, it by being a smarty pants like this, he, he, he.

Oh, P.S. and by the way, I still don’t give a crap about starving and dying Ethiopian children, and I don’t give a shat what that steven says about me. As long as I get my sneaky, freebie 37 mil, why worry? He, he, he.

by T-Bone Pick Pocket on Oct 22, 2008 1:11 PM CDT reply actions  

If anyone read the Texas Monthly story on Boone, you got a pretty good feeling that the chances of him going bust again are well, very strong.

by bh on Oct 22, 2008 1:21 PM CDT reply actions  

‘And by a "sickful" of quarters, I mean a "sackful".’

We also would’ve accepted “sack full” but would’ve preferred “sock full”.

by Minnesotahorn on Oct 22, 2008 1:50 PM CDT reply actions  

The dudes 80 years old, people that old don’t give a shit about anything. Besides we got the stadium done which was the most important thing.

by Ray Finkel on Oct 22, 2008 1:52 PM CDT reply actions  

I’d say a dude that’s dropping a few billion on wind energy and a few hundred mill on his mid-tier alma mater still gives a shit.

They’ll have to wrestle Pickens into his own coffin.

by Vasherized on Oct 22, 2008 2:22 PM CDT reply actions  

Just what is wrong with being 80 years old? Some of us aspire.

by BiggUggly on Oct 22, 2008 3:09 PM CDT reply actions  

A very small percentage of the fund is in long and short term oil. 90% of it is in equities (stock market). When the market rebounds next year so will the fund. If the market doesn’t rebound thats when you hide the sharp objects. OSU’s athletic department borrowed the money for the stadium so none of the original 165 million has been touched. Now I would assume that someday soon they’ll have to pay off the loan but Boone has said he’s not done giving so don’t be surprised if he opens up the checkbook again when that time comes.

by Ray Finkel on Oct 22, 2008 3:15 PM CDT reply actions  

I plan to hold on to my “football stuff.” Don’t worry Deloss.

by Steve Nebraska on Oct 22, 2008 4:05 PM CDT reply actions  

Nothing like staking your POS university’s athletic department future in a crap game all under the guise of benevolence. No wonder we cut him from the fish basketball team – too many behind the back passes.

by Aggie Lurking on Oct 22, 2008 4:24 PM CDT reply actions  

When the market rebounds next year so will the fund.

That’s like banking on an Okie State victory on Saturday.

Are you seriously trying to defend his allocations? Dude just took a shitbath in red ink but “Nothing to see here …”

Do you really think that unbridled generosity will continuity after writing off a few hundred million?

I’m sure you also thought Sean Sutton was doing just fine last year when he was really one bad call away from a heart attack.

Between the lack of humor and the myopic delusion, I’m rather concerned for the Okie State fan base. The represention thus far certainly doesn’t match the lofty ranking. I’m supposed that will return to the mean on Saturday as well.

by Vasherized on Oct 22, 2008 4:32 PM CDT reply actions  

Who have they beaten? Baylor,coogar high, WSU, and us (not exactly Murderer’s Row there) oh and then there’s Mizzou. I like your chances in this one esp. if you can sandwich Dez between a couple of DBs and Zack between Orakpo and the turf.

by Aggie Lurking on Oct 22, 2008 7:55 PM CDT reply actions  

boone could own any of you teasip clowns if he liked…you better take all that shit talk back before he catches wind of this little forum & fits you jokers for a pair of cement boots. muaahhhhhh!

by Ramonce Taylor on Oct 22, 2008 8:06 PM CDT reply actions  

Everything is going to be fine, Ray.

by Cpt. Edward Smith, RMS Titanic on Oct 23, 2008 12:45 AM CDT reply actions  

Oh, Ray…Could you please come in here and read this to me?

STILLWATER — “It can’t get any worse,” that’s what one Oklahoma State Regent said Tuesday morning, after getting another dose of bad news regarding funds earmarked for OSU athletics.

Yesterday all indications were that OSU Regents were reportedly told Friday afternoon that a large portion of the Boone Pickens donation in the BP Capital hedge fund was virtually wiped out by margin calls on the funds investments in the third quarter.

Today the news was a little more grim, as officials were told that actually, THE ENTIRE $165 MILLION, and the earnings, which once inflated the gift to over $ 300 million, had recently been eliminated by margin calls due to drastically falling oil prices.

by Does OSU Stand For "Oh, Shit Unbelievable" on Oct 23, 2008 12:56 AM CDT reply actions  

THE ENTIRE $165 MILLION, and the earnings, which once inflated the gift to over $ 300 million, had recently been eliminated by margin calls due to drastically falling oil prices.

He, He, He, He. Oh and OSU stands for “Oh, Steven UR always right”. Hook’em Horns.

by T-Bone Pick Pocket on Oct 23, 2008 8:48 AM CDT reply actions  

From what Boone is said in a recent inverview the fund is still in the Black. Not by much but still in the black. My buddies Dad is a regent at OSU and as of 6 days ago the gain of 180 million was gone but the principle of 202 million was still in tact. So you people who want to believe that the sky is falling on Oklahoma State can just go fist yourselves. Besides I am pretty sure Dez Bryant, Kendall Hunter, Zac Robinson, and Brandon Pettigrew aren’t too concerned with the commodities exchange. Unless any of you tools are billionaires let’s just let Boone worry about the fund and we can stick with the football.
http://www.cnbc.com/id/27240502

by Ray Finkel on Oct 23, 2008 9:14 AM CDT reply actions  

I’ve said it once and I’ll say it again: Guys like Boone will make and lose several fortunes in a lifetime. Unfortunately for OSU, he didn’t PAY you before he started to lose the current one.

by BatesHorn on Oct 23, 2008 9:25 AM CDT reply actions  

Well like I said earlier from what he has said we really haven’t lost anything. All of the principle is still in tact which if you read the article it sounds like the University is in the position right now to either pull out of the fund and cut bait or ride it out. We’ll see what happens but its not like they’re looking at 0.00 on the ol’ balance sheet ya’ know.

by Ray Finkel on Oct 23, 2008 9:46 AM CDT reply actions  

“So you people who want to believe that the sky is falling on OSU can just go fist yourselves” ???

To quote from the article you linked
“Pickens: We’ve leveraged the money I donated to build. But there’s a certain point where they may have to exit the funds.

Darren: How much are they considering that?

Pickens: We’re at a critical point right now.

Sounds as if your big donor is getting fisted right now and you too indirectly. Maybe now you guys will have to start paying for all of your spending the way the rest of us do through lots of smaller donations. Trouble is you don’t have lots of fans and after this weekend you’ll have less still.

by Aggie Lurking on Oct 23, 2008 9:52 AM CDT reply actions  

they may have to dip into the Hart Lee Dykes trans am fund to stay afloat.

by coach Callahan on Oct 23, 2008 10:02 AM CDT reply actions  

“you Mizzou Tiggars suck at accepting that you all suck.”

Ray Ray, this was something I realized about the Mizzou Tiggars, after interacting with some of their diehard fans. I now pass this same friendly advice onto you and the other diehard OSU, Okie Chokie fans lurking around here. And all this is well intentions on my part, Ray Ray. After all, accepting this maybe be a little distasteful at the start, but, believe me, in the long run, I am sure, you all will find that you all are in better harmony with that thing called “reality”.

by steven on Oct 23, 2008 10:30 AM CDT reply actions  

“From what Boone is said in a recent inverview the fund is still in the Black. Not by much but still in the black. My buddies Dad is a regent at OSU and as of 6 days ago the gain of 180 million was gone but the principle of 202 million was still in tact.”

From what’s coming out today, that sounds like old news. The word is that the entire fund is wiped out – most of what remained had to be sold to make margin calls – and T Boone’s net worth has dropped from the 2.2-2.3 billion range to 700 million, very little of which is liquid.

To make matters worse, the university BORROWED the entire $200 million for stadium expansion & upgrades instead of taking some or all of it from the hedge fund when its value was north of $300 mil.

The result? They’re trying to figure out how to cover appr. $13 mil in annual interest (est. $1 – $1.4 mil/ month). One report had T Boone saying he’d cover it, but he may not be the best guy to count on for cash at the moment.

by SeeingRed on Oct 23, 2008 11:41 AM CDT reply actions  

And yep, Minnhorn, you’re right – “sockful” probably would have been the #1 answer in Match Game to “(blank) ful of quarters”

I still would have won $300.

by SeeingRed on Oct 23, 2008 11:43 AM CDT reply actions  

SeeingRed. I am not going to pretend to know what is actually going on. I would be very surprised if the entire fund was wiped out though. Unless you are Boone’s personal assistant or have his phone tapped let’s not specualate. Which is exactly what your post was, speculation.

by Ray Finkel on Oct 23, 2008 3:29 PM CDT reply actions  

Hey Ray, its been reported in newspapers all across the country , with quotes from REAL, not dad’s of my friend PRETEND regents- the money is GONE…WIPED OUT in a margin call.

If you have never had a margin call, well son, you really haven’t even begun to live.

Coffee is for closers, son. Put that cup down.

by Blake On A Mobile Phone From Glengarry Glen Ross on Oct 23, 2008 3:49 PM CDT reply actions  

“I am not going to pretend to know what is actually going on.”

That’s funny. A few short paragraphs above you seemed to know all about it.

by 8straight on Oct 23, 2008 4:04 PM CDT reply actions  

29 million?

by Billion Schmillion on Oct 27, 2008 3:05 PM CDT reply actions  

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