James Packer Quits

[Bluepower]

Is this true?? Heard James has pulled the pin on nearly all ties with the family business.......

[sgt_doofey]

I heard on the news this morning that the Packers were pulling the pin on funding for channel 9.

Edit: Seems you were right: http://www.abc.net.au/news/stories/2...tion=australia

[Ralliart]

^ yeah same here i just saw the same things on the news on it

[InTrail]

He was having heaps of dramas with his casino projects in Macau. Wanting to delay or cancel some of the construction there as well as reduced revenue from those already operating.

Now I'm sure it's an entirely different mindset when you're an ultra high net worth individual, but why doesn't he retire whie relatively young and healthy. Cash out however many $billions he's down to.

Then buy Phillip Island, a Veyron and an F6 or GT. What more could a man need?

[Bossxr8]

Originally Posted by InTrail

He was having heaps of dramas with his casino projects in Macau. Wanting to delay or cancel some of the construction there as well as reduced revenue from those already operating.

Now I'm sure it's an entirely different mindset when you're an ultra high net worth individual, but why doesn't he retire whie relatively young and healthy. Cash out however many $billions he's down to.

Then buy Phillip Island, a Veyron and an F6 or GT. What more could a man need?

News footage showed him stepping in an Aston. Drools.

[Ladiesman217]

Originally Posted by InTrail

Now I'm sure it's an entirely different mindset when you're an ultra high net worth individual, but why doesn't he retire whie relatively young and healthy. Cash out however many $billions he's down to.

Then buy Phillip Island, a Veyron and an F6 or GT. What more could a man need?

I'll you what more a man needs... Some MINGE!!! How could you forget the minge! And with Billions of coin, you could get some pretty classy ones.

[irlewy86]

Church of Scientology orders maybe?

[steve.zissou]

Bet I know what he is doing - the same as his old man did. Sell's out at the top of the market then buys back for bugger all.

Think about it. Kerrys about to croak, calls james in and says "look, moneys too easy to get atm, sell out to these dumb greedy idiots that want to buy at the top of the market, stay involved for a while then when the market takes a big dive pull the pin so to get everybody spoked and the share price will go even lower. Then when it falls in a heap buy it back and yourself laughing. Then put the chq (that he got paid with initially) up in your toilet so every time you take a you can yourself at the price they paid you. (i think kerry did this with the document from when bondie bought it last time).

Now if i could just figure out how to make money with my amazing powers of deduction.

[InTrail]

Originally Posted by flexxy

I'll you what more a man needs... Some MINGE!!! How could you forget the minge! And with Billions of coin, you could get some pretty classy ones.

Look at his history with the ladies. I think he's already had more than his fair share (esp. in quality), even for a mega rich dude.

[XR Martin]

Kerry didnt want James to get his hands on his fortune, He'd knew he'd stuff it up, but didnt really have a choice.

[Trevor 57]

Originally Posted by InTrail

Then buy Phillip Island, a Veyron and an F6 or GT. What more could a man need?

I assume you are talking about Phillip Island Grand Prix Circuit, not the Island itself, as that wouldn't be possible, however I think you will find it is the Fox's that own the Islands race circuit unless something has changed that I don't know about.

[robjh80]

Just saw this on the telly, they reckon he's lost something like 1.5 Billion Dollars of his wealth in just one year!

Poor dude's down to his last 2.5 Billion or something ... "how is he going to get by on that?" :

[schnoods]

Originally Posted by XR6 Martin

Kerry didnt want James to get his hands on his fortune, He'd knew he'd stuff it up, but didnt really have a choice.

Well just look at the way OneTel ended up.

I think its more of a stick to what you know kinda thing. He is more into the gambling side of things.

But he does know what a hard days work is, his old man made him go on a station in the middle of the NT for a bit of unpaid work experience before he let him have any ventures with money.

[DoreSlamR]

Originally Posted by flexxy

I'll you what more a man needs... Some MINGE!!! How could you forget the minge! And with Billions of coin, you could get some pretty classy ones.

I don't think James Packer is Laminge's type : :

[Rodp]

He doesn't have the knack of his father. If I were him, I'd cash out too.

[GT0132]

Originally Posted by Rodp

He doesn't have the knack of his father. If I were him, I'd cash out too.

Another Warwick Fairfax & Rodney Adler revisited maybe.....Both inherited large fortunes from Dad only to lose it all once John Fairfax and Larry Adler croaked....Now what will happen once Rupert goes ?

[Paxton]

Originally Posted by XR6 Martin

Kerry didnt want James to get his hands on his fortune, He'd knew he'd stuff it up, but didnt really have a choice.

Correct. Read "Who Killed Channel 9" for the whole background, however Channel 9 died the day David Leckie was fired. It has been downhill since then.

Basically, Kerry Packer brought in John Alexander from Fairfax to try and shake up Channel 9. On his Deathbed, he is reported to have said "keep James and the others out of Channel 9, they're going to f..k the joint". Did they ever.

This isn't the first time there hasn't been a Packer at the Nine Network. I'm sure that in a couple of years, James will buy it back. Whether it is for the reduced sum that Kerry got it for we don't know. In the mean time, this can only benefit Seven and Ten, as the viewer exodus from Nine has just begun.

[Scott]

Originally Posted by ozmale42

Now what will happen once Rupert goes ?

Safe cash there.... plus, even if Lachlan was like James, the pockets will take much longer to drain.

[Paxton]

Originally Posted by GTP006

Safe cash there.... plus, even if Lachlan was like James, the pockets will take much longer to drain.

Lachlan can actually pass as intelligent can't he?

James is the Idiot son who can't live up to his father's legacy. We forget that Kerry Packer wasn't earmarked for Sir. Frank's business. Clyde Packer was groomed for the position only to have a falling out with his Father, and be overlooked when the business was passed on. Kerry was the idiot son, much like his own offspring.

[gcg2503]

Not wishing to rebel rouse or anything but unless you have dealt with JP personally how can you vouch for his intellect or lack thereof?

Quite close to the guy who runs one of his European Hedge Funds out of London (in Alternative Investments) and he isnt the fool that you think he is

I am sure we can delve into even Rupert Murdochs (and his offspring) past and come up with blunders

[gtfpv]

if i was in his shoes . i'd pull out of stress and live hapilly ever after too . F'''.. THE FAME .

[schnoods]

Originally Posted by gcg2503

Not wishing to rebel rouse or anything but unless you have dealt with JP personally how can you vouch for his intellect or lack thereof?

Quite close to the guy who runs one of his European Hedge Funds out of London (in Alternative Investments) and he isnt the fool that you think he is

I am sure we can delve into even Rupert Murdochs (and his offspring) past and come up with blunders

Very true, though once figures are thrown in the air with lots of zero's behind him. he will at least have paid pro's to make decisions for him, if not an educated guess.

Though Im sure he cant be dimwitted as he is made out to be, surely there is a god. :

[DJM83]

Originally Posted by gtfpv

if i was in his shoes . i'd pull out of stress and live hapilly ever after too . F'''.. THE FAME .

Agreed

[Cobra]

Originally Posted by irlewy86

Church of Scientology orders maybe?

He has quit that too from I heard.

[Hillbilly F Truck]

Heard on radio last night he has lost half his money since last year.

[irlewy86]

Originally Posted by Cobra

He has quit that too from I heard.

With the amount of money he has tied up in casino's it probably would have been hard for em to stay!


I wonder if it went a little like this;

Phone call for you James
Yes, Hello?
James, its ya father, get your out of my television station now
Ye ye ye yes sir

[RPO83]

Originally Posted by Paxton

Correct. Read "Who Killed Channel 9" for the whole background, however Channel 9 died the day David Leckie was fired. It has been downhill since then.

Basically, Kerry Packer brought in John Alexander from Fairfax to try and shake up Channel 9. On his Deathbed, he is reported to have said "keep James and the others out of Channel 9, they're going to f..k the joint". Did they ever.

This isn't the first time there hasn't been a Packer at the Nine Network. I'm sure that in a couple of years, James will buy it back. Whether it is for the reduced sum that Kerry got it for we don't know. In the mean time, this can only benefit Seven and Ten, as the viewer exodus from Nine has just begun.

The exodus has been going on since 2005, from staff to viewers they have all headed to the Seven Network. Ten are in the same boat as Nine at the moment, in fact i'd say they would be the first to collapse if the market sinks further.

Now if only Ford could crush GM-H like Seven is to Nine...

[mik]

Originally Posted by RobRoy

Heard on radio last night he has lost half his money since last year.

the poor bugger ...we should all do a round with the plate send him a few buks