LETTERS
Owning the Angels
As a lifelong baseball fan and 32-year county resident, I don’t have a problem with Disney chairman Michael Eisner wanting to sell the Angels.
Fact is, I’d be happy if that happens,but only if the residents of Orange County can buy the team.
Just like the good people of Green Bay, Wis., who own the Packers football franchise, everyone in Orange County deserves a shot at owning a piece of the Angels.
The Green Bay Packers literally are owned by fans. Today, more than 110,000 people, representing more than 4.7 million shares, can lay claim to a franchise ownership interest.
In 1923, with the Packers headed for bankruptcy, the club was transformed into a publicly-owned, nonprofit corporation. Since that time, there have been four stock drives: the first one raised $5,000 in ’23; the second raised $15,000 in ’35; and, the third raised $118,000 in ’50.
The last stock sale was in late 1997 and early ’98. It added more than 105,000 shareholders and raised more than $24 million. Today, residents of Green Bay are investors in a business that, according to Forbes, now is worth around $400 million!
It’s a long way from eating Wisconsin cheese to ordering hot dogs at Edison International Field. So, how do fans from Fullerton, Costa Mesa or Laguna Beach get a chance to own shares in the Angels?
The answer is both easy and complex: by initiative. That’s right, residents of Orange County would vote on a ballot measure asking Disney to turn over ownership of the ball club to the public.
At a time when corporate profits are being examined for every possible financial flaw, Disney’s desire to sell the Angels seems perfectly reasonable. According to one report, the Angels only made $25,000 in 2001.
No telling what the team’s profit will be for ’02, but apparently it won’t be enough to satisfy company shareholders.
Win or lose, the residents of Orange County deserve a chance to own a piece of the Angels. The straightest line from Disney’s ownership to public ownership is through the voting booth.
Some may argue that San Francisco Giants superstar Barry Bonds will end up an Angel before voters approve such a ballot measure.
I disagree. In fact, all the signals I’m picking up point to hitting a home run on this one. If that is true, then it’s time to play ball.
Denny Freidenrich
Principal
First Strategies LLC
Laguna Beach
Branding OC
Regarding Rick Reiff’s Nov. 18 editorial:
“Seize the moment?” Your boosterism knows no bounds.
While I like your ideas and sentiment, what are you seeking to accomplish? OC continues to grow and attract people, talented and otherwise, and resources.
I agree that OC’s image is amorphous, but that is true for those who live here as well as those who don’t. The reasons for it, which you describe in part, would remain unchanged by your campaign.
Would the money better be spent on “something” that would create a sense of OC in reality and make the image of OC more concrete for those who live here, rather than create spin for the sake of making those who do not live here think better of us?
Bill Mitchell
Attorney
Cummins & White LLP
Tustin
Your OC branding idea is a good one, but these are probably not the economic times to find the necessary money. Once the next upturn begins, we should definitely do it. Your analysis was right on about our need for an identity.
Murray Rudin
Partner
Riordan, Lewis & Haden
Irvine
