Hicks on CNBC
by Coolbean04 on Sep 25, 2009 1:19 PM CDT
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They segment didn't start yet but they said he's going to buy an energy company. What's up with that? I thought he had no money to be doing acquisitions?
Put it on if you want to watch.
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Resolute National Resources
I think that’s the name of the energy company.
Hicks said he only borrowed 6M from MLB.
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Hicks Acquisition Corp. (Amex:TOH) announced in August that it was merging with Resolute Energy Corp. in a deal valued at $582 million. Upon completion of the deal, it will seek a listing on the New York Stock Exchange. Resolute has energy holdings in Utah, Wyoming and Alabama.
The man behind the merger is Tom Hicks, owner of the Texas Rangers, Dallas Stars and Liverpool Football Club. Hopefully for investors’ sake that he’s a better evaluator of business partners than he is of sports teams, because they’re mediocre at best.
by GregoryM on Sep 25, 2009 1:37 PM CDT reply actions
Hmm
The writer of that article needs to check his facts- Liverpool is hardly “mediocre at best.” They’ve been in the final 8 of the Champions League 4 of the last 5 seasons, with a finals win and a finals loss, and have finished in the top 4 all but one of those seasons, coming in 2nd last season.
The Rangers and Stars? I won’t argue those.
"I cannot believe how fucking off base I was about Tiny E before this season. The Kid is great and is going to become a star."
- Wails
Stars have missed the playoffs what...1,2 times in the past decade
Been to the Finals twice, winning 1. Conference finals several times. Id say the Stars are above “mediocre”
Bryan Smith (12:17:17 PM PT): Justin Smoak and Josh Hamilton. The AL West might just have found their Bash Brothers, v. 2.0.
True
I’d forgotten they made it to the conference finals 2 years ago. Last season’s atrociousness must have wiped that from my memory.
Speaking of Liverpool- Torres with a hat trick today in a 6-1 demolition of Hull City!
"I cannot believe how fucking off base I was about Tiny E before this season. The Kid is great and is going to become a star."
- Wails
Just to clarify - HSG is out of money, NOT Hicks..
There’s a lot of complicated rules about these sort of holding companies and corps. Short version – if Hicks get careless about mingling his personal money with HSG, he can find himself in a bind personally.
The Texas Rangers have been synonymous with explosive firepower ever since they emptied 130 rounds into Bonnie Parker and Clyde Barrow in 1934. - Alyssa Milano
TOH is a SPAC, or "blank check", company
meaning that outside investors, not necessarily our fearless leader himself, put up the money for the transaction. Essentially, when the company was formed it didn’t have a business. People invested with the idea that Tom would find a good acquisition target and do his thing.
to be fair, he has some impressive skins on the wall in the lbo game
but, yeah, the past decade hasn’t been his finest hour.
by Sherman McCoy on Sep 25, 2009 3:43 PM CDT up reply actions
We have to be fair?
Who made that rule? :-)
Of course, he’s had several financially successful ventures (for himself and partners/investors), I’m sure. Although personally, I’m not all that impressed with LBO’s in general.
ha
Although personally, I’m not all that impressed with LBO’s in general.
That’s a pretty broad statement. Kinda like me saying that I’m not all that impressed with restaurants.
"He will not coddle them. Nolan Ryan doesn’t coddle." - Jeff Passan
by Dirk Diggler on Sep 25, 2009 6:48 PM CDT up reply actions
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