Official Lance Armstrong Thread: Part 3 (Post-Confession)

[Semper Fidelis]

Cluelessness abounds...

Oh I did not say daHog was correct. Just that he seems to be bucking the system for whatever reason. I still have not figured it all out. Not that this needs to be figured out.

 

[Semper Fidelis]

Thanks.

After some asking about, here is some further insight on the insurance Red Herring.

As has been noted/speculated above, Tim Herman sought to have SCA ruled as an insurance company in the original arbitration - clearly as a tactic to claim that they didn't follow the law. In the original arbitration, the arbitrators did rule that they had provided insurance.

As is obvious, SCA had operated for many years legally as risk insurance. Founded in 1986, they had in fact operated legally for 20 years prior to the institution of the Texas statute clarifying contingency practice from insurance practice.

This risk assessment practice operates under the insurance umbrella (i.e. the "contingency insurance" practice* with its North American Contingency Association industry association) even though it is not deemed insurance. Contingency practice does not fit conventional insurance practice as the party taking out the policy did not directly benefit from the 'winnings' of the (hole-in-one, shoot the basket...) promotion contest**.

Given the clarification - and it really is a clarification - under the Texas statutes, there are no grounds for controversy over whether or not risk assessment companies practice conventional insurance.

In summary, it is and always was a Red Herring.

Dave.

*The Contingency Insurance Industry is a specialized group of individuals that deal with insurance products that usually fall outside of the more easily recognized property, marine, casualty, and financial services departments of most companies. Contingency Products were originally underwritten in the London Market and include; Non Appearance, Cancellation Coverage, Transmission Failure, Prize Indemnity, Contract Bonus**, Weather, Moral Turpitude, Redemption, and many other esoteric coverages.

** Please recall that Brown & Brown (ESIX) originally sought out SCA in order to cover off the bonus plan in Lance's contract.

Good post. Best info yet.

Hey are you going to get me back on that email distribution list or what? I'm not going to apologize to Greg but I would still like to get the emails.

 

[D-Queued]

The Usual Suspects...

Not sure if this belongs here or not, but probably does given the cast of characters:

Heavy hitters in Austin hospitality scene join forces in new venture

...They have, in recent years, worked together on a variety of projects, including the Austin Food and Wine Festival and the Austin City Limits Music Festival, Mellow Johnny?s bike shop and Le Toiny, a hotel in the Caribbean.

Given what we know about Bart Knaggs, Bill Stapleton and Jesse's dad Tim Herman, is this a crowd that you'd want to do business with??

Or, is heavy hitters used here in its commonly applied euphamistic sense?

Dave.

 

[mewmewmew13]

Oh I did not say daHog was correct. Just that he seems to be bucking the system for whatever reason. I still have not figured it all out. Not that this needs to be figured out.

He got bored after Lance got popped and now he goes all 'Eddie Haskell' at times..

 

[Semper Fidelis]

Not sure if this belongs here or not, but probably does given the cast of characters:

Heavy hitters in Austin hospitality scene join forces in new venture

...They have, in recent years, worked together on a variety of projects, including the Austin Food and Wine Festival and the Austin City Limits Music Festival, Mellow Johnny?s bike shop and Le Toiny, a hotel in the Caribbean.

Given what we know about Bart Knaggs, Bill Stapleton and Jesse's dad Tim Herman, is this a crowd that you'd want to do business with??

Or, is heavy hitters used here in its commonly applied euphamistic sense?

Dave.

It might make a good TV series on how **** can go wrong!

 

[urban attacker]

can not let go

news caster said lance will be racing with team for liestrong http://kxan.com/2015/02/20/lance-armstrong-to-ride-in-livestrong-event-in-austin/

 

[MarkvW]

news caster said lance will be racing with team for liestrong http://kxan.com/2015/02/20/lance-armstrong-to-ride-in-livestrong-event-in-austin/

I'd like to know what his appearance fee is.

 

[frenchfry]

I'd like to know what his appearance fee is.

Exactly. Maybe he is returning by the backdoor.

 

[Bosco10]

Lance says, "I'm sorry -- if that's what you need."

http://www.houstonchronicle.com/loc...rong-called-me-He-didn-t-say-he-s-6083898.php

 

[DirtyWorks]

news caster said lance will be racing with team for liestrong http://kxan.com/2015/02/20/lance-armstrong-to-ride-in-livestrong-event-in-austin/

Good for him. I mean that. If this is the only thing he did for the rest of his days I would wish him a fond farewell.

If only he would out Wiesel and Verbruggen, then he really could be a champion. Let that sink in a minute Wonderboy. It's how a guys like Rasmussen returned to the public, basically forgiven. But, you gotta actually know what the truth is and tell it.
.
.
.
.
sshh!!! play along with me here.

 

[DirtyWorks]

Lance says, "I'm sorry -- if that's what you need."

http://www.houstonchronicle.com/loc...rong-called-me-He-didn-t-say-he-s-6083898.php

He was polite. He thanked me. He did not ever apologize. It seemed to me that he completely forgot that part.

Huh. I'm shocked he did not actually apologize.

The article has some very insightful stuff related to tragedies in literature that needed more space. Otherwise, pretty typical "crushed fanboy" and the raging @#$@ with whom she had a crush.

 

[mewmewmew13]

He was polite. He thanked me. He did not ever apologize. It seemed to me that he completely forgot that part.

Huh. I'm shocked he did not actually apologize.

The article has some very insightful stuff related to tragedies in literature that needed more space. Otherwise, pretty typical "crushed fanboy" and the raging @#$@ with whom she had a crush.

The beginning made me cringe as well..'excited' that HE would actually call me.
barf

He was totally using her ...I don't think she sees that.

 

[python]

i just did something i was disinterested in since the king texas doper was exposed and punished - i read a dozen of pages of the thread about him. i tried to get apace with his legal troubles...

what did i learn ?

almost nothing new...that armstrong is still a liar, that those who always saw it, are well guarded to distrust those like the hog, that chewie is still the paragon of an honest assessment (and now a legal one as well), that those who position themselves as 'neutral' (like glenn) are to be particularly distrusted b/c very obviously their goal (as was clearly stated by him in several posts) was/is to become included in the private distribution lists he/they were left off ...

in fact, this type of motivation has always been most repulsive in my book. it is an instinctive sense, perhaps it is irrational, but i may be not the only one...

 

[D-Queued]

Good for him. I mean that. If this is the only thing he did for the rest of his days I would wish him a fond farewell.

If only he would out Wiesel and Verbruggen, then he really could be a champion. Let that sink in a minute Wonderboy. It's how a guys like Rasmussen returned to the public, basically forgiven. But, you gotta actually know what the truth is and tell it.
.
.
.
.
sshh!!! play along with me here.

"...my existence, while grotesque and incomprehensible to you, saves lives. You don't want the truth because deep down in places you don't talk about at parties, you want me ..."

Dave.

 

[Pazuzu]

Race Radio - The Blog

Weird thing is that RaceRadio seems to have been completely left the building. Took his ball and went home. What was the cause for that? I guess we will never know.

He's moved on. He's got his own blog now: http://theraceradio.com/ where he can get his ideas out there without getting harassed by the resident Armstrong apologists.

 

[frenchfry]

i just did something i was disinterested in since the king texas doper was exposed and punished - i read a dozen of pages of the thread about him. i tried to get apace with his legal troubles...

what did i learn ?

almost nothing new...that armstrong is still a liar, that those who always saw it, are well guarded to distrust those like the hog, that chewie is still the paragon of an honest assessment (and now a legal one as well), that those who position themselves as 'neutral' (like glenn) are to be particularly distrusted b/c very obviously their goal (as was clearly stated by him in several posts) was/is to become included in the private distribution lists he/they were left off ...

in fact, this type of motivation has always been most repulsive in my book. it is an instinctive sense, perhaps it is irrational, but i may be not the only one...

There's a private distribution list? Who do I have to suck up to to get on it?

 

[blackcat]

There's a private distribution list? Who do I have to suck up to to get on it?

Betsy's Facebook. Her personal Facebook site is like a staging point or information ground, whatever it is called, for Armstrong updates and zingers

 

[thehog]

I'd like to know what his appearance fee is.

Times have changed. He had to make a $5000 donation!

Or perhaps he just drew down on his open account at Livestrong. After all he did plow $15m of pretax income into it.

 

[mewmewmew13]

Betsy's Facebook. Her personal Facebook site is like a staging point or information ground, whatever it is called, for Armstrong updates and zingers

That is hardly private bc...
even Lance reads it.

I was thinking he meant more like the other bunch here that doesn't like Travis et al...sending pm's & regrouping for the next siege

 

[Microchip]

He's moved on. He's got his own blog now: http://theraceradio.com/ where he can get his ideas out there without getting harassed by the resident Armstrong apologists.

Very cool!!!

 

[Merckx index]

He's moved on. He's got his own blog now: http://theraceradio.com/ where he can get his ideas out there without getting harassed by the resident Armstrong apologists.

Very interesting. And this seems to refute, again, the notion that LA might have come out ahead by investing the original award:

Forbes takes a looks at the large tax issues Armstrong faces. One point they have wrong is the possibility [he could] get a rebate from his 2006/07 taxes. The panel?s ruling is a sanction, not a modification of the award. so he will not get a rebate. Defrauding SCA was not been [sic] the smartest financial move. The contract with SCA cost almost $500,000. Lance paid Ferrari his cut first, $465,000, leaving him with about $6.5 million. He then paid taxes and agent fees, leaving him with $3 million. He also spent a lot in legal fees fighting this. Conservatively $500,000 but likely more. Lance may have pocketed $2,500,0000 8 years ago but he now owes $10,000,000 plus SCA has another lawsuit in the works asking for more.

 

[thehog]

Very interesting. And this seems to refute, again, the notion that LA might have come out ahead by investing the original award:

I've not read he blog but it's a good idea.

Appears similar to what was posted here. There's no dispute Armstrong is a swine but those numbers don't add up.

The Ferrari payment and management fees would be due regardless of SCA paying or not paying. Those line items would be subtracted from total income not a one off one time payment from SCA.

SCA was not Armstrong's only source of income.

In accountancy terms you don't take one credit and select two debits and subtract. You withdraw those from total income not just one selected payment from SCA.

Tax is variable from the sense that it depends how much he was able to write off. I would think he was in the top end so the SCA payment would most likely be at the highest rate but we don't actually know that.

I'm not trying to start a posting war here so please don't flame me, I'm just cleaning up what is fairly rudimentary accountancy for all of us not just Armstrong.

You can't conclude a $2.5m sum without considering total income.

 

[Bluenote]

I've not read he blog but it's a good idea.

Appears similar to what was posted here. There's no dispute Armstrong is a swine but those numbers don't add up.

The Ferrari payment and management fees would be due regardless of SCA paying or not paying. Those line items would be subtracted from total income not a one off one time payment from SCA.

SCA was not Armstrong's only source of income.

In accountancy terms you don't take one credit and select two debits and subtract. You withdraw those from total income not just one selected payment from SCA.

Tax is variable from the sense that it depends how much he was able to write off. I would think he was in the top end so the SCA payment would most likely be at the highest rate but we don't actually know that.

I'm not trying to start a posting war here so please don't flame me, I'm just cleaning up what is fairly rudimentary accountancy for all of us not just Armstrong.

You can't conclude a $2.5m sum without considering total income.

Jesus, let it go. RaceRadio seems to have left the building and you are still trying to argue with him? Un-freaking-believable.

You're on record with your "Armstrong will make $ even if he loses" theory. You've beat that horse to death, thank you very much. People disagree or agree. Just let it go.

 

[thehog]

Jesus, let it go. RaceRadio seems to have left the building and you are still trying to argue with him? Un-freaking-believable.

You're on record with your "Armstrong will make $ even if he loses" theory. You've beat that horse to death, thank you very much. People disagree or agree. Just let it go.

Perhaps you should let it go and just discuss the content.

Get back to topic please & stop avoiding what was posted.

 

[Bluenote]

Perhaps you should let it go and just discuss the content.

Get back to topic please & stop avoiding what was posted.

Oh yeah. The super amazing profound topic of wildly speculating about Armstrong's financial situation when there are a f@ckton of unknows. Did he invest the $? Make tons off those investments? Loose his shirt? Stash it in hidden accounts long ago? Spend it on hookers and blow? No one here knows.

Yeah, pulling numbers out of ones' *** about Armstrong's financial situation, then arguing about it in this super serious way is a real nobel pursuit. "My *** numbers are right and your *** numbers are wrong!"

God, wouldn't want to interfere with that!!