The Oklahoman has reported that George Shinn has bought a house in Nichols Hills.

Although small, he BOUGHT the house... Not leased. This suggests he is planning on staying in Oklahoma City and NOT returning to New Orleans.

Before you say it means nothing, keep some things in mind. One. Business people like to deny. My own employer does this frequently and they are one of the largest companies in the world. These businesses like to deny things that are obvious, then all of a sudden, they announce what is already known. Two. Shinn's house is just over 2,000 square feet. Many wealthy people do not flaunt it. The myth is all wealthy (or in the commoners vernacular "rich") people buy big houses, go on a lot of expensive trips, buy the most expensive, etc. Not neccessarily. Look at Sam Walton. He lived in a 40 year old house that was about 1,500 square feet, drove a truck that was barely operational, and wore tattered cloting. If he walked into Tiffany's, chances are, the salesperson would be rude to him because that sales person would think he did not have the money to even pay for the dust on the floor, when, in fact, he coild whip out a wad of cash that would make "Jed Clampit" look like he was on welfare.

I still think the team is here, and here to stay. Shinn buying a house instead of leasing it is just part of the evidence that points toward that direction.

The fact that he bought a small house might mean it's a temporary home. In other words, if he bought in Gaillardia, I would be more inclined to believe he was staying long term.

It makes sense to buy instead of rent - compared to renting, he can use his tax mortgage deduction for the entire time (compared to renting where he loses all of that money).

He might be planning on living in it temporarily and then leasing it to someone when he finds something else or he might be making an investment.

Who knows what the future holds but buying a smaller house doesn't lead me to believe it means long term.

The fact that he bought a small house might mean it's a temporary home. In other words, if he bought in Gaillardia, I would be more inclined to believe he was staying long term.

It makes sense to buy instead of rent - compared to renting, he can use his tax mortgage deduction for the entire time (compared to renting where he loses all of that money).

He might be planning on living in it temporarily and then leasing it to someone when he finds something else or he might be making an investment.

Who knows what the future holds but buying a smaller house doesn't lead me to believe it means long term.

Both may could be what is happening. I still say the evidence points toward permanant. Shinn may be one of the people I described. He may not want to spend over a million on a house. He way be a wise investor instead of the sterotype spend-o-matic.

It''s really too early to know what his intentions are, but he did say in the Oklahoman that even if he wanted the Hornets to stay permanately, the NBA is the one that will ultimately decide where the Hornets play. If the NBA says New Orleans, he has no choice but to go back.. I can't see anyone wanting to stay in a hotel for an entire season. I hope the intention is to stay here permanently. I think todays article said that Byron Scott LEASED a home in Edmond.

It''s really too early to know what his intentions are, but he did say in the Oklahoman that even if he wanted the Hornets to stay permanately, the NBA is the one that will ultimately decide where the Hornets play. If the NBA says New Orleans, he has no choice but to go back.. I can't see anyone wanting to stay in a hotel for an entire season. I hope the intention is to stay here permanently. I think todays article said that Byron Scott LEASED a home in Edmond.

You are correct. The NBA is also who had the right of rejection to bring the team here for the season. Had the NBA felt Oklahoma City was not a major league market, the team would not be here now. I have no doubt that if the tam is out of New Orleans permanantly, they are ours.

I appreciate your enthusiasm Mr. Anderson, I really do. I think maybe you are reading a little too much into things. The fact that Shinn bought a house in Nichols Hills means he needed a place to live. That's really about it. With the recovery process going on in New Orleans, I imagine even Shinn is not 100% positive on what is going to occur with the Hornets.

My personal feeling is that the Hornets will return to N.O. if the city can bounce back successfully. I do agree with you when you say that if they do not return to N.O. that they will stay in OKC.

I appreciate your enthusiasm Mr. Anderson, I really do. I think maybe you are reading a little too much into things. The fact that Shinn bought a house in Nichols Hills means he needed a place to live. That's really about it. With the recovery process going on in New Orleans, I imagine even Shinn is not 100% positive on what is going to occur with the Hornets.

My personal feeling is that the Hornets will return to N.O. if the city can bounce back successfully. I do agree with you when you say that if they do not return to N.O. that they will stay in OKC.

I am using a very large knowlege of business practices to give my thoughts. Most of the time, I am correct.

I am using a very large knowlege of business practices to give my thoughts. Most of the time, I am correct.

If your very large knowledge of business practices is based in large part on whether someone buys a house in that market (especially in the current situation for the Hornets), than I'm not sure I can agree with you.

If your very large knowledge of business practices is based in large part on whether someone buys a house in that market (especially in the current situation for the Hornets), than I'm not sure I can agree with you.

No. It is based on being raised around major business leaders which inlude Ross Perot and others. I learned how to read between the lines. This is an education very few people get. So, most people just let it go "in one ear and out the other."

Speaking of Ross Perot, he could let anything go in one ear and out the other ----

Big ears, get it!? ha,ha,ha LOL I'm cracking myself up here.....

No. It is based on being raised around major business leaders which inlude Ross Perot and others. I learned how to read between the lines. This is an education very few people get. So, most people just let it go "in one ear and out the other."

Well that's cool then. I'm not doubting your belief that you have stated earlier about why you think the Hornets are here to stay. Of course my reply was intended toward your comments regarding Shinn buying a house and that being direct proof of the Hornets intentions to stay in Oklahoma City. I suppose it's foolish of me to think that is what we were talking about in this thread even when you said the following:


Although small, he BOUGHT the house... Not leased. This suggests he is planning on staying in Oklahoma City and NOT returning to New Orleans.


On the subject of Shinn buying a house, my point is that I think you are reading too much into it. That is all. :Smiley181

Speaking of Ross Perot, he could let anything go in one ear and out the other ----

Big ears, get it!? ha,ha,ha LOL I'm cracking myself up here.....

Yuk yuk! :LolLolLol

Well that's cool then. I'm not doubting your belief that you have stated earlier about why you think the Hornets are here to stay. Of course my reply was intended toward your comments regarding Shinn buying a house and that being direct proof of the Hornets intentions to stay in Oklahoma City. I suppose it's foolish of me to think that is what we were talking about in this thread even when you said the following:




On the subject of Shinn buying a house, my point is that I think you are reading too much into it. That is all. :Smiley181

Very few people buy a house with the intentions of only staying in it one year. THAT is what suggests the team is here to stay.

Mr. Shinn has been staying a a 'local hotel' and as anyone who goes on business trips for extended periods of time knows, as nice as any hotel is, it isn't home.

A mortgage payment on a house of that size in Nichols Hills is a much better deal than paying 'rent' at a hotel for an extended period of time.

Mr. Shinn has been staying a a 'local hotel' and as anyone who goes on business trips for extended periods of time knows, as nice as any hotel is, it isn't home.

A mortgage payment on a house of that size in Nichols Hills is a much better deal than paying 'rent' at a hotel for an extended period of time.

Granted. However, the hotels are tax deducatable. The house is not. So, those hotels can be a better value for tax purposes. I will stick with my feelings.

Granted. However, the hotels are tax deducatable. The house is not. So, those hotels can be a better value for tax purposes. I will stick with my feelings.

It's hard to say if that tax deduction would make one bit of difference to a millionaire looking for the comfort of home for at least a year.

So, going by your logic, the fact that Byron Scott is leasing and not buying a home, does that mean that he will not be the coach next year? Or perhaps he's just not privy to the information?

I think the fact that someone bought vs. someone leasing or staying in a hotel is insignificant information on the Hornets intentions beyond this year.

It's hard to say if that tax deduction would make one bit of difference to a millionaire looking for the comfort of home for at least a year.

So, going by your logic, the fact that Byron Scott is leasing and not buying a home, does that mean that he will not be the coach next year? Or perhaps he's just not privy to the information?

I think the fact that someone bought vs. someone leasing or staying in a hotel is insignificant information on the Hornets intentions beyond this year.

Maybe he lives in another city off season. Many players or coaches do, vs. George Shinn possibly creating local ownership. Plus, who knows. Maybe Scott will NOT coach next year. He could get a better offer or he could get gate 86.

Granted. However, the hotels are tax deducatable. The house is not. So, those hotels can be a better value for tax purposes. I will stick with my feelings.



What does this mean ???

Ever hear of a mortgage tax deduction? One of the reasons many people buy a home opposed to renting - the interest is tax deductible.

What does this mean ???

Ever hear of a mortgage tax deduction? One of the reasons many people buy a home opposed to renting - the interest is tax deductible.

He could have paid cash. Many wealthy people have been known to do that.

He could have paid cash. Many wealthy people have been known to do that.

LOL, you don't think there's a little too much speculation going on here?

He could have paid cash.

In which case, it can be much better than staying in a hotel. The hotel, even after deductions will still simply be an expense. The house can appreciate, giving him the possibility of making money on his OKC residence (which he needs) as opposed to it being an expense. And, the house would have to depreciate at a rate equal to the expense of the hotel after taxes for it not to make sense. Given OKs inexpensive and relatively stable housing market, that's very unlikely. Even with insurance and expenses, it's a fairly safe and much more comfortable way for his family to live while they're here in OK. His worst case scenario is selling it in one year. If he's not paying interest on the house and has the cash, it's very easy to justify versus staying in a hotel or renting a house, especially if one views the housing market as stable or favorable.

The real considerations there would be whether his portfolio distribution can justify putting that much cash in a house vs. the opportunity cost of placing it elsewhere.

But since we don't know his actual portfolio or if he paid cash for the house, it's hard to really say whether it's a good idea and even harder to use the transaction as speculation into the man's intentions with his basketball team, either way. But, no matter. People will just believe what they want to believe.

In which case, it can be much better than staying in a hotel. The hotel, even after deductions will still simply be an expense. The house can appreciate, giving him the possibility of making money on his OKC residence (which he needs) as opposed to it being an expense. And, the house would have to depreciate at a rate equal to the expense of the hotel after taxes for it not to make sense. Given OKs inexpensive and relatively stable housing market, that's very unlikely. Even with insurance and expenses, it's a fairly safe and much more comfortable way for his family to live while they're here in OK. His worst case scenario is selling it in one year. If he's not paying interest on the house and has the cash, it's very easy to justify versus staying in a hotel or renting a house, especially if one views the housing market as stable or favorable.

The real considerations there would be whether his portfolio distribution can justify putting that much cash in a house vs. the opportunity cost of placing it elsewhere.

But since we don't know his actual portfolio or if he paid cash for the house, it's hard to really say whether it's a good idea and even harder to use the transaction as speculation into the man's intentions with his basketball team, either way. But, no matter. People will just believe what they want to believe.

Trust me. With my knowlege of how wealthy people spend money, I can guarantee he had the money. He may have had to raise it with stock sale or something, but he had the money. Plus, the hotel would be 100% deductable for business when he travels, but not as a residence. That deducation can take a chunk out of his income tax.

I suggest listening to Dave Ramsey who has a program on KEBC, Monday thru Friday 1:00-3:00, and is also on XM radio. You will learn a lot about how wealthy people spend money.

I still say, based on the logic skills I have been taught by very wealthy business people, I would be quite surprised if the New Orleans was not taken off the team name by 2007-2008 season.

If you were to tell me that Shinn sold his house in New Orleans, then I think you might have something.

If you were to tell me that Shinn sold his house in New Orleans, then I think you might have something.

Who knows. Maybe it is on the market.

Who knows. Maybe it is on the market.


LOL, who knows, maybe it's not. Maybe he's trying to be another house in New Orleans. Who knows? :tiphat:

Trust me. With my knowlege of how wealthy people spend money, I can guarantee he had the money. He may have had to raise it with stock sale or something, but he had the money. Plus, the hotel would be 100% deductable for business when he travels, but not as a residence. That deducation can take a chunk out of his income tax.

I suggest listening to Dave Ramsey who has a program on KEBC, Monday thru Friday 1:00-3:00, and is also on XM radio. You will learn a lot about how wealthy people spend money.

I still say, based on the logic skills I have been taught by very wealthy business people, I would be quite surprised if the New Orleans was not taken off the team name by 2007-2008 season.

OMG! This is getting downright embarassing. I can only hope that Shinn isn't reading this .... The things some people will say and do just to be able to say "I told you so" later - ~ Heavy sigh ~

Trust me. With my knowlege of how wealthy people spend money...

OMG, that was funny.

My point was that if he bought the house with cash, he coul be a wealthy person making money. If he expensed his stay at hotels, then he's just a wealthy person spending money, no matter how much he deducted. You don't need a radio hack to know that increasing, or maybe even stable, debt free real estate equity (depedning on inflation) beats rental expense write offs everday.

OMG, that was funny.

My point was that if he bought the house with cash, he coul be a wealthy person making money. If he expensed his stay at hotels, then he's just a wealthy person spending money, no matter how much he deducted. You don't need a radio hack to know that increasing, or maybe even stable, debt free real estate equity (depedning on inflation) beats rental expense write offs everday.

Regardless of what anyone says, I still think something is brewing... And, yes. I do enjoy saying "I told you so," because people just will not accept the fact I may just be right. My gut instinct usually is.

Regardless of what anyone says

That's what it always comes down to, doesn't it?

No one is questioning the possibility of the team staying here, just the bizarre use of anything the team or Shinn does to feed your narcissism.

The real considerations there would be whether his portfolio distribution can justify putting that much cash in a house vs. the opportunity cost of placing it elsewhere.

When you hit a certain level of wealth, a house or two doesnt even make you blink. To purchase a NBA franchise you have to have at least $50 million just in the franchise. This is a small portion of his portfolio or any professional sports team owner's portfolio. If he can buy a team as a hobby, I think spending a million or less on a Nichols home house and 5 others across the country, isn't a concern

When you hit a certain level of wealth, a house or two doesnt even make you blink. To purchase a NBA franchise you have to have at least $50 million just in the franchise. This is a small portion of his portfolio or any professional sports team owner's portfolio. If he can buy a team as a hobby, I think spending a million or less on a Nichols home house and 5 others across the country, isn't a concern

Exactly. If you have the cash, why not buy a house, aquiring equity, instead of tossing it away on hotel rooms, even after deductions.

They did a report on this whole issue of staying in OKC on ESPN's Outside the Lines and they basically said it looks like Shinn would go back if he had the choice, but the NBA will likely force him to stay here as it is their decision.

Wow, that's totally backwards from what the Oklahoman was saying a couple of weeks ago. I think it's highly unlikely that there will be the kind of demographics in New Orleans by next season to sustain the team. I just don't see the rebuilding process and having the same income levels come back happening as fast as people want to think it will. Think about how long it has taken for the rebuilding to take place from the May 3rd Tornado. Although most structures have been built back, we are already more than six years removed from that day and there is still rebuilding going on. People say that New Orleans is FAR worse in scope, so again, I don't see this quick recovery and then everything will be okay scenario happening. I really believe that if our city supports the Hornets the entire season, they are here to stay. Keep in mind that OKC was growing faster than New Orleans before the hurricane and there wasn't much difference in the MSA population. I believe our income overall was higher as well. Just like the city pitched to the NHL back in 1997, if you included the Tulsa area, it makes for a top 25 television market. We are Charlotte in the making.

Just like the city pitched to the NHL back in 1997, if you included the Tulsa area, it makes for a top 25 television market. We are Charlotte in the making.

I don't really like the combining of the Tulsa/OKC market idea because any other city could do the same. For example, NO would probably be a top 25 market as well if you combine NO and Baton Rouge.

True, but Tulsa was larger than Baton Rouge, prior to the hurricane. I think both regions are comparable.

True, but Tulsa was larger than Baton Rouge, prior to the hurricane. I think both regions are comparable.

I agree and I also think N.O. and OKC are comparable when it comes to the numbers as well. I would say OKC is not comparable to N.O. however as far as the reputation of the city (in as much as being a major league city).

I agree and I also think N.O. and OKC are comparable when it comes to the numbers as well. I would say OKC is not comparable to N.O. however as far as the reputation of the city (in as much as being a major league city).

That is almost an oxymoron. One can not develop a reputation as a major league city until they ARE one.

That is almost an oxymoron. One can not develop a reputation as a major league city until they ARE one.

Which is why N.O. has that reputation already, I suppose. :doh:


Would almost being an oxymoron be an oxymoron in itself? ;)

Hornets’ staff given new nest

Local Realtors provide help in securing Oklahoma City and Norman apartments.

By Tricia Pemberton, Business Writer

Luckily for the Hornets colonizing the Oklahoma City area, local Realtors are helping them find better digs than the traditional hollow log or underground burrow.

Staff members and management are settling into new apartments in Oklahoma City and Norman, while players continue to seek lease property in Edmond.

Becky Sesock, vice president of Price Edwards & Co., said she and on-site managers Elizabeth Corona and Sue Mullens worked with community owners Joe Mahoney and David Addudell, to move more than 100 Hornets staff members into 88 apartments in two area communities.

“They were staying in extended-stay hotels and needed furnished housing. I picked them up and showed them what I had available. They were basically a captive audience,” Sesock said.

By Oct. 10, the Price Edwards team had the majority of the Hornets’ staff settled into corporate apartments at Citadel Suites, at NW 50 and Brookline in Oklahoma City, and at Crimson Park, student apartments near the University of Oklahoma at 26 Street and Classen in Norman.

Sesock said she didn’t have enough units available in either complex to put all the staff members in one place.

She said the apartments are furnished but also come with what they call a “soft package,” which includes towels, sheets, toasters, etc.

“All they had to do was bring their clothes,” she said.

Leases run through the end of the year with the option to renew, Sesock said.
“They’re gracious and grateful and incredible people to work with. We would love for them to stay, but I don’t know how that will play out,” she said.

Michael Thompson, director of corporate communications for the Hornets, confirmed that seven to eight staff members are leasing apartments in Citadel Suites, while the rest of the staff is housed at Crimson Park.

The staff members range in jobs from human resources to game operations, corporate sales and other positions.

As many as 15 players are also looking to lease homes in the area, Thompson said.

“It’s my understanding that most are looking at Edmond, but as in any NBA city, we will undoubtedly be spread out. There may be guys who prefer a loft apartment overlooking downtown. There may be some who want more space to move their families here,” Thompson said.

Right now, he said he’s unaware of any team member who has moved their family to Oklahoma City.

And while the team now numbers 18, by the Nov. 1 opening night, it will be honed to 15, Thompson said.

“The places they’ll end up with won’t be nominated for MTV’s show ‘Cribs,’ ” Thompson joked, “They’re just looking for something comfortable, something convenient.”