Predators Foundation and Brent Peterson Party for a Great Cause

$3,000.000

No, that is not the latest contract that the Predators have issued.

That is how much the Predators Foundation has distributed since its inception to charities in Middle Tennessee.

It's difficult to quantify that positive impact and the lives that have been improved by gifts from the Foundation. All of this is made possible through the generous donations of fans of the Predators, and they were out in full force on Monday night as over 1,100 people filled the floor of the Bridgestone Arena for Petey's Party. The event raises funds for the Predators Foundation and Peterson's Foundation for Parkinson's Research.

Those in attendance were treated to a great evening of entertainment and dining as well as an opportunity to bid on numerous silent auction items. Despite the lock out, most of the team was there to support the event.

Here are some pictures from the evening:

The arena floor before the guests arrive

Paul McCann and his wife Denise, with Travis Ruffin

Sheila and Terry Crisp, ready to spend some money at the silent auction

Some of the many jerseys autographed by NHL players that were auctioned off at the event

Predators goaltending coach Mitch Korn and Buffalo Sabres Head Coach Lindy Ruff

Paul Gaustad visiting with fans

Coach Brent Peterson and the View

Patric Hornqvist talking to some of the guests

Guests enjoying dinner

Predators Chief Operating Officer Sean Henry addresses the audience

Hypnotist Rich Guzzi with some hypnotized volunteers, including Tom Cigarran (second from left) of the Predators ownership group. It was probably the first time for any of us in attendance to hear Chinese rap.

Pierre McQuire of NBC Sports and Gord Miller of TSN helped by leading a live auction for a trip with the team

Brent Peterson spoke about coping with Parkinson's in a heartfelt speech

Pekka Rinne looking over some of the silent auction items

Head Coach Barry Trotz and some guy

Ben Butzbach and Justin Bradford of Penalty Box Radio

Phil Vassar and his band rocked to close out the evening

This evening of fun and entertainment provided funds to support Parkinson's research and the charitable activities of the Predators Foundation. Many thanks to all those in attendance for their generous support, and to the players, coaches, and friends of the team for their support.

My View

Random ruminations from your resident curmudgeon....

This past week, 25,000 teachers walked off the job in Chicago in a strike over benefits and teacher evaluations. The Chicago Teachers Union had asked for a 30% pay increase, despite the fact that the District faces a $700 million current deficit and a projected deficit of $3 billion over the next three years. The Chicago School Board countered with a 16% increase over 4 years and implementation of a new teacher evaluation system. Here is what you should know about this situation: Chicago teachers make an average of $71,000 per year BEFORE benefits and work one of the country's shortest school days. "So what?" you say, as long as the children in they system are learning and progressing. About that... According to the U.S. Department of Education, 79% of 8th graders in the Chicago public school system are not grade level proficient in reading; 80% are not grade level proficient in math. It would seem to me that if teachers in a particular school district are some of the highest paid in the country, the results would be significantly better than these. Of a particular concern to the Teachers Union representing the Chicago teachers is a more comprehensive evaluation of individual teachers. The school board proposed to make student performance count for 40% of a teacher's annual evaluation. The Union has said no. So the Union wants no consideration of student performance in teacher evaluations and a pay increase that will break the bank of the school board. Let me be very clear about this: I highly respect good teachers that dedicate their lives to imparting wisdom and improving the educational experience of their students. But the sad fact is that we have a public sector union representing the teachers that cares nothing about that. They are willing to strike for unrealistic salary demands and have no regard for educational experience of their students. If we are going to improve public sector education in the U.S., this has to change.

"Always leave them wanting more"- my approach to paying bills.

Last Friday, the unemployment numbers were released, and has been the case over the past several years, there was no movement as unemployment remains intractably over 8% of the work force (frequent readers know that is the nominal, or U-2 rate. Real unemployment, or U-6, remains around 15%).  Here is some insight about those number that were released last Friday: work force participation (WFP) fell to a 31 year low. Simply put, the number of people in the work environment is lower than it has been in over 3 decades. Why is this important? Particularly troubling is the level of participation in the work force of those in the 22-55 age bracket. Typically, those in the younger part of this bracket are getting married, buying and furnishing houses, and starting families. All of those activities are good for the economy, and they typically occur when those people of that age are employed. Oh yeah, they pay a lot of taxes that help support our entitlement programs. However, as many in this group have dropped out of the work environment and have stopped looking for jobs at all, those potential dollars that they would earn and spend are not circulating through the economy, and they are not paying taxes that would support the current level of entitlement spending by Washington. If we are going to change the direction of our economy and become fiscally healthy again, we are going to have to change the policies that create impediments to job growth, especially for those in this age group.

I have a super talented friend that can read Braille with his eyes closed.

Gas prices soaring. The economy struggling. America in a funk, her might diminished. The Obama presidency? Well, yes. But it was also the Jimmy Carter presidency of the late 70's. After  four years of mis-management and ineptitude, Carter and the failed policies of the Democrats were rejected by voters. Why bring this up? Because today we are hearing that America is the source of trouble and problems all over the world. We are in a national funk. Unbelievably, our economy is about as screwed up as it was during the Carter years. And to solve all our problems? More government control and higher taxes. History has proven all those negatives and "solutions" to be wrong. After a painful series of steps to get our economy moving, Ronald Reagan got federal government out of the way of the business community and lowered taxes. In the process, he unleashed one of the greatest periods of economic growth and personal prosperity in the history of our country. He lowered taxes and guess what? Tax revenues to the government went up. Why? Because the economy grew dramatically. Pride in our nation, its people, and our defense of freedom around the world soared. There was no apology about being a "city on a hill, a beacon of freedom for the world." It is easy to look at our economy and the political mess that is Washington and get discouraged. But history- recent history- has shown that our country and our people can and will do great things if given the opportunity. And that is what the November election is about. The choices are simple. We can choose to be wards of the state and never achieve greatness. Or we can do what was done to Carter and his inept management of this country and choose to once again embrace the fact that what makes our country great is you and me. And we don't have to apologize for that.

I tried to draw a picture using invisible ink, but all I drew was a blank.

And that, my friends, is my view.

My View

Random ruminations from your resident curmudgeon...

$16 trillion. This past week, the U.S. national debt passed $16 trillion. A number of that magnitude boggles the mind and it is hard to really get a grasp of what that means. Fear not, friends. The View is here to help put this number in perspective. At $16 trillion, our debt is now greater than the total value of  the U.S. Gross Domestic Product (GDP), or the goods and services that our country produces. Our current GDP is $14.8 trillion. The significance of that fact is simply this: we could tax 100% of our nation's income of production or national income and still not erase our deficit. The debt per taxpayer is an astounding $111,414 and growing. Every child that is born in 2012 is saddled with $50,000 in debt. Keep in mind that interest rates are near zero, and when they start to rise- and they will- the interest that we will be paying on our national debt will be more than the entire budget for the Department of Defense. The size of our debt is problematic, but the fundamental problem that we face in our country is that Washington has no control over their spending habits. Don't believe me? Since Obama took office, our national debt has ballooned from $10.6 trillion to $16 trillion. Congress has raised the debt ceiling 13 times since 2001, characteristic of their inability to exact fiscal discipline. Furthermore, our annual deficits- what the federal government spends relative to what it collects in taxes- now tops $1 trillion. These numbers point out that we cannot tax our way out of these problems. We must, as a nation, begin to take serious steps to rein in spending and impose fiscal discipline. Until that happens, our country is traveling the same road as Greece.

I saw a flying saucer today. It appeared right after the flying cup my wife threw at me.

How did we get in this fiscal mess? There are a number of reasons, but I believe that it has roots in the arrogance of power. Our federal lackeys, both elected officials and bureaucrats, believe that government knows best what is right for the market, for business, and for the individual. Washington believes it knows better what works in Nashville than those who are in Nashville. Government has insinuated itself into all facets of our life, and has attempted to control our life in a way that has been unprecedented. Want proof? Dodd/Frank, legislation that was passed to regulate business and banking, was 849 pages and created over 1,000 new laws and regulations. Obamacare, the socialized medical program that was rammed through Congress, is over 13,000 pages and implements a myriad of rules and taxes, many of which we are still discovering (remember then Speaker Nancy Pelosi infamously stating that 'We have to pass this bill to find out what is in it."). Our federal tax code is 73,608 pages and the federal register that clarifies some of the tax rules is 82,419 pages. By contrast, our Constitution is 6 pages. Our Founding Fathers knew that the government that governed least governed best. That ethic has been lost as Washington has usurped power and control over most of the aspects of our daily life. The result of this overreaching is a fiscal mess of unprecedented proportions. We have a choice as an electorate: we can continue the present course that our government is taking and we will spend ourselves into oblivion. Or we can take control of our government once again and force our leaders to live within their means and limit their power.

My wife and I have religious differences. She refuses to worship me.

Generally accepted accounting principles require businesses to account for future liabilities. Future liabilities are monies that are owed but are not due in the current tax or calendar year. Build a new plant and finance the construction over several years, and the future liabilities are what is owed or due in more than a year. Our government has future liabilities as well. If you are paying into Social Security, you expect to get that money back when you become eligible to receive payments from the SS trust fund. That is a future liability of our government. Lost in all the talk of our current deficit is the fact that our government has some massive future liabilities. Money is owed to future social security recipients and promised under other entitlement programs. How much? Estimates range from $120-200 TRILLION. Lawrence Kotlikoff of Boston University estimates $220 trillion dollars. These unfunded liabilities are going to completely swamp the government. What is going to happen? Taxes will most assuredly go up, but as we have seen, taxation alone will not solve the problem. Future beneficiaries will, I believe, face significant means tests before they receive benefits. That simply means that if you have saved and done what is prudent, you will not receive the full benefit that you are due. Your benefits will be cut. By now, I am sure you see the absurdity of where these programs have devolved. Be prudent financially, save your money, and you are going to pay a penalty through reduced payments. Be profligate, don't prepare financially, and you will be rewarded with full benefits. Now I ask you, do you think Washington should be as involved in as much of of personal and business life as it currently is? I think this example should answer that question for you.

The most terrifying thing my wife says to me is, "Notice anything different?"

And that, my friends, is my view.                                                     

My View

Random ruminations from your resident curmudgeon...

Medicare has become a flash point for debate as the Presidential campaigns heat up. Vice-Presidential candidate Paul Ryan has been criticized for his proposals to reform Medicare, and the Democrats and their allies in the mainstream press have all been screaming that his plan will gut Medicare and punish seniors.What you won't hear in the press is that the Medicare program has already been gutted. Obamacare, according to the Congressional Budget Office, will pilfer $716 billion from Medicare between 2013 and 2022. Additionally, there are more than 160 new regulations that are written into Obamacare that restrict Medicare. To make Medicare "work" after Obamacare guts the program, payments to health care providers have been slashed. The obvious outcome of that is that doctors and other health care providers are opting out of serving Medicare patients. Oh, yeah...Medicare has a long term unfunded liability of $37 TRILLION according to the CBO. So as you hear that the Medicare program is going to be ended if reform is attempted, know that Medicare has already been ended. The real debate is how are we as a country going to continue to provide health care coverage to our seniors. Do nothing, and Medicare crashes, leaving seniors in dire straits.

Lawyers are like a rhinoceros: thick skinned, short sighted, and always ready to charge.

We have been in an economic recovery since June of 2009 according to most economists. Yet our country still faces high unemployment and poor job growth, and our economy continues to limp along. Why? According to an analysis of Census Bureau data by Sentier Research, income in this country has declined more during this "recovery" than it did during the recession that preceded it. On an inflation adjusted basis, median household income has fallen 4.8% during the recovery compared to a 2.6% drop during the 18 month recession. Household income in this country is 7.2% below the December 2007 level. Add in the fact that the average duration of unemployment has increased to a record 41 months, and you can see why this recovery doesn't feel like a recovery. Incomes for all age groups below 65 fell, with those in the 55-64 age bracket falling the most, losing 9.7%. 25-34 year olds saw their income fall 8.9%. Almost every age group is worse off than it was three years ago, with only those 65 and above seeing their income go up. Since consumer spending accounts for 67% of our Gross Domestic Product growth, you can see why the economy is having trouble getting traction. This perfect storm of high unemployment and falling incomes has made this recovery the weakest in history. Keep these facts in mind when you hear politicians talk about raising taxes and taking more of your money to fund wasteful government spending. It is not a formula to get our economy back on track.

My wife told me I was driving her crazy. Apparently "it's a short drive" was not the appropriate response.

Britain is considering an "emergency tax" on the wealth of its citizens to fund budget shortfalls. The current rate is 50%, although it was recently lowered to 45% since many of the wealthy started to move assets outside the country. Francois Hollande, the President of France has proposed a 75% tax on the wealthy to do the same thing. And the response there has been predictable. The wealthy are taking steps to renounce their citizenship and are moving to more tax advantaged nations. Here in the U.S., you can see the same thing occurring. Companies are fleeing high tax states like California and relocating to states that have a less onerous tax structure. What politicians fail to understand is that those that have accrued wealth, whether individuals or companies, will not sit idly by and let the state confiscate their wealth. There is no doubt that every company or individual enjoys and benefits from the services that government provides, such as police and fire protection. What government fails to realize is that there are limits, both to what these entities are willing to pay and the services that government should provide. Part of the problem is that government programs, once instituted, are never curtailed and continue to grow and consume more resources. Until government recognizes those limits, there will continue to be steps taken by the wealthy to avoid these out sized tax burdens.

The cashier told me, "Strip down, facing me." How was I to know she meant my debit card?

And that, my friends, is my view.

My View

Random ruminations from your resident curmudgeon...

If Congress fails to act- and they probably will not- taxes are set to increase sharply beginning January 1, 2013, when the current tax rates are set to expire. If- and when- that happens, the effect on our economy will be brutal. According to a report released this week by the Congressional Budget Office (CBO), the tax increase on January 1 will be the largest in the history of our nation, and the effect of this increase will be to not only negate any growth, but to actually SHRINK our economy. The CBO estimates that our economy will shrink by .5 percent. That doesn't sound like much, but the CBO says that a contraction of this level will cost our economy another 1.2 million jobs and spike the nominal unemployment rate to 9.1%. The additional lost jobs will be in addition to the 12.8 million jobs that have been lost since Obama became President. The CBO report emphasizes the importance of Congress taking action to prevent our economy from falling deeper into this economic funk we have endured for the past three and a half years. More importantly, it is time for Congress to set aside their partisan bickering and begin to work for the good of our country. If they fail to do so, you and I will pay a high price for their continued ineptitude.

I live in a two story house. One of them is, "It's all your fault" and the other is "Because I said so."

Remember during his Presidential campaign when then candidate Obama said that if he was elected President that anyone making less than $250,000 "will not see their taxes go up one dime." You know what? He was exactly right. Instead, if you make less than $250,000, you are going to see your taxes go up a whole lot of dimes. The Obama administration is already hinting at what is to come if he is re-elected. On ABC's "This Week" news show, Treasury Secretary Tim Geithner said, "We have to bring these deficits down very dramatically. And it is going to require some hard choices." Liberal mouthpiece The New York Times, ran an article this past weekend with the headline "The Rich Can't Pay For Everything". The article quoted Leonard Burman, who runs the Brookings Tax Policy Center and was an official in the Clinton Treasury Department, who said, "This idea that everything new the government provides out to be paid for by the top 5%, that's a basically unstable way of governing." Why the change of pace? Even raising taxes on January 1 will not provide enough revenue to keep pace with the out of control government spending. Raising taxes on the wealthy will not even come close to closing the spending gap. So where will the money come from? You guessed it. The middle class. Why? Because that is where the money is. The tax increase will not be an income tax, though. That is so politically unpopular as to be career suicide for a politician. No, what is being readied is a European style value added tax. This tax is easier to hide and therefore easier to implement and to raise at some point in the future. The VAT that is being considered by the administration is 10% on all goods and services as proposed by Ezekiel Emmanuel, a senior White House aide. If this tax is implemented, that money is coming out of your pocket, because the price of all goods and services will be taxed at every level of production or delivery. The fact is that many in our government want a European style welfare and entitlement state, and you can't have that without European style taxes. Pay attention to this, as Washington is going to try to slide this massive tax increase in under the radar.

The world would be a much better place if instead of a dog eat dog reality it was a man eat chocolate cake life.

Watch the discussion about taxes closely. To cure our financial woes, we must raise revenue, and a lot of focus in Washington is on how to raise revenue (read: taxes). But there are two components to curing our financial troubles, and the one that is getting short shrift is cutting expenditures. Admittedly, this is problematic, because so much of our spending is tied to social programs such as Medicare, Medicaid, and Social Security. For many, these programs are considered to be untouchable. There are promises that have been made to current and future recipients, and those promises should be kept. However, doing nothing to change the way these programs are run dooms them to failure. If we were honest and accounted for the present and future liabilities the way businesses have to account for their liabilities, we would see that they are insolvent. Continuing with a "business as usual" approach is foolish and just deepens the financial hole that each of these programs faces. Rather than demagogue proposed solutions, no matter how radical, we should have an honest discussion about how to make them solvent and viable. If we do nothing, we will see these programs fail in our lifetime. It is time for us a citizens and taxpayers to engage in this process and demand that Washington put all options on the table to cut spending and make these programs fiscally sound.

Maybe the government should change its motto to, "Hi, I'm the federal government. If you think our problems are bad, you should see our solutions."

And that, my friends, is my view.

One Timers

Some thoughts about the Predators and all things hockey...

Fisher signing sends a message

The signing of Mike Fisher to a 2 year, $8.4 million extension by the Predators was a good move by the team for two reasons. Fisher is one of those glue guys that can contribute in all zones on the ice and is a strong, veteran leader on a young team. Just as importantly, his signing is confirmation that the owners can and will continue to pony up the money to put talent on the ice beyond Shea Weber. While the Predators will rarely make a breathtaking financial move with player contracts (Weber notwithstanding), it is good to see that the team has the ability to sign the players they feel can contribute. Many in the hockey world had their doubts.

File this under "karma"...

On a very slow Saturday evening that probably serves as a prelude to some serious-ass CBA fireworks come Tuesday, the Pioneer Press’s Charley Walters suggests that the Minnesota Wild’s lockout-proofing of Zach Parise and Ryan Suter may require a lickety split infusion of bucks from the team’s various owners, Board of Governors negotiating representative Craig Leipold included:

The Minnesota Wild have to pay $10 million bonuses by Saturday, Aug. 18, to each of the star free agents they signed in July, Zach Parise and Ryan Suter.

With those bonuses due, a little birdie says, virtually all of the Wild’s 11 limited partners last week agreed to commit to a total capital call of $10 million. Principal partner Craig Leipold is expected to fund the remaining $10 million.

Parise and Suter each agreed to $98 million, 13-year contracts July 4, with the signing bonuses due within 45 days.

If there is a NHL lockout—the league’s labor contract expires Sept. 15—Wild investors could be asked to commit to another cash call. That could occur as early as November.

Who ya gonna believe?

It is precisely this signing, along with the enormous Weber offer thrown out by Ed Snider of the Flyers, and several cap circumventing contracts executed last season, that undermines the credibility of the owners when they say they are not making money and need the players to give up part of their salaries. I have no doubt that the revenue split will ultimately settle near the 50/50 range, but the owners have thrown away their ability to cry poor in their negotiations with the NHLPA.

Revenue Sharing is championed by...the players?

The problem for the League is that some teams are truly revenue disadvantaged and the League needs a better revenue sharing model. The players, lead by Donald Fehr, have shrewly positioned themselves as champions of revenue sharing and promoting the overall well being of the game. Right now, in the court of public opinion, they hold the upper hand.

Do you think...

The rush by a number of players to get long term deals done is a realization that those types of deals will no longer be available under the new CBA?

That the new CBA will exact tighter controls on the owners, who frankly need to be saved from themselves, in the area of contract term, bonuses, and front loading?

A lockout of any length will be detrimental to growth of hockey in the non-traditional markets? My belief is that, yes, it will hurt momentum and perhaps alienate the casual fan. But the damage will not be as great as it was after the last lockout because the roots of hockey are more established in these markets.

The Predators Play a Pivotal Role In Our City

During the management presentation at the Skate of the Union, Predators Chief Operating Officer Sean Henry complimented the fans for their support of the Predators Foundation. Henry stated that last year, the Foundation had given out $750,000 in grants and donations to charitable enterprises throughout middle Tennessee.

That number is stunning.

Stunning not only for the sheer dollars that were given this past year, but for the impact that the Foundation has in our communities and cities to better the lives of our citizens.

Over the years, there has been debate about the economic benefit of the team to Nashville. Studies have been completed that show the positive effect of the team on the revenues that are generated on game nights and the sales taxes that are created by the spending of fans. Arguments have been made on both sides as to the extent of the economic benefit that the team creates.

What cannot be argued is the the economic benefit of the Predators Foundation.

From the beginning, the ethos of the team and the organization has been to be a good corporate citizen. Through silent auctions at the games and various fund raising endeavors, the Foundation has gathered funds and in turn delivered those funds to organizations that are changing lives for the better. Every year, the amount given has grown, and in turn, Nashville and surrounding cities have been the beneficiaries of this generosity.

Like the team, the Foundation is striving to be an even bigger player. Henry stated that the goal is for the Foundation to double the amount they are distributing to charities.

That means that the Foundation will be involved in more fundraising activities, and of course, it means that the Predator fans will have to continue to support the Foundation.

The next opportunity to do so will be on September 17th as the Foundation in conjunction with the Peterson for Parkinson's Foundation will host "Petey's Party" at the Bridgestone Arena. There will be great auction items, a fantastic dinner, and opportunities to interact with the players and coaches. This event is an opportunity to meet the players in a relaxed setting before the rigors of the season (hopefully) begin the following weekend.

More information about the event are to purchase tickets can be found here.

To give you an idea of  the kind of night you can expect, I have some photos from last year's party:

Some of the auction items on display

Gnash made an appearance as only he can

 

Over 900 people attended last year's party

 

Fans have an opportunity to visit with Head Coach Barry Trotz

 

Brent Peterson speaks to the audience

 

Carrie Underwood performs for the crowd

 

The Foundation is also hosting a golf tournament the next day, and the field is almost sold out. You can also register for the golf tournament at the site that was linked above.