When I read an article in today's WSJ on the Green Bay Packer's stock sale, I knew what I wanted for my upcoming birthday (it's next Sunday, so you've still got 3 shopping days if you hurry):
As stock investments go, the Green Bay Packers' latest $62.5 million offering isn't very good. It pays no dividends, can only be transferred to family and can't appreciate in value. ...
Pat Duffey, a 25-year-old Wauwatosa, Wis., resident, acknowledged the conditions of the sale indicated "you're just getting a piece of paper, not much more than that," but said it was worth it because "I've grown up being a fan of the Packers and loved them all my life." ...
Boulder, Colo., resident Mike O'Connor, a vice president at apparel company Pearl Izumi, said he plans to purchase a share for his son. "It represents Green Bay and the Packers and all the great things that go along with that."
And the financial benefits? "It's all sentimental value to me," he said.
So I am now the proud owner of 1 share of stock in Green Bay Packers, Inc., suitable for framing.
As a corporate law professor, I naturally dote on stock certificates, so it'll be a nice piece of art for my office.
As a football fan, I now have a justification for rethinking my loyalties. As regular readers know, I've been a fan of the Washington Redskins ever since I first became aware of professional football as a spectator sport (circa 1970-ish). I reveled in the glory years of the first Joe Gibbs coaching stint, but have paid the price of unending misery during the Little Danny Snyder years. No fair wather fan, moi.
But Dan Snyder's been testing my patience for years and I'm about at the point where I think I can switch allegiances without being accused of being a turncoat.
What better time to become a Green Bay Packers fan than this year? And what better excuse for doing so than being a stockholder?
Go Pack!
