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May only have days left.
Get ready for years of mediocrity - the reason the Lakers have been this good, this long is becasue Dr. Buss is a self-made man and knows what it takes to succeed.
Jimmy-boy was born with a silver-spoon up his butt and thinks that the world owes him a championship.
I, for one, will dearly miss Dr Buss, his contributions to the Lakers as well as our alma-mater.
Great Trojan who did great things for Los Angeles.
Join the fight for YOUR liberty!
You hit the nail on the head, dark days for us Laker fans. Wish Jeannie was the one running the show.
We'll miss you Jerry!
I am a Celtics fan, but I have nothing but admiration for the man. What he did for the Lakers, Los Angeles, and USC made everyone in this country richer for it. I hope he finds comfort and peace of mind in his final days.
“Close tax loopholes that allow some of the truly wealthy to avoid paying their fair share,” Reagan vowed.
Dr. Buss has passed away.
Sad day indeed. One of, if not the best owners cutting across all sports.
Jerry was a visionary, and simply wanted to win...nothing more. Surrounded himself with great people/minds, but always made the final call himself.
I would love to see Jerry West return as President, and run the show with Mitch, and as many others have hoped, wish Madam Laker, Jeannie, to yield more influence within the organization.
Not going to dump on Jim....at least not today.
RIP Dr. Buss and Fight On!
RIP to the boss of the city
Jerry left because of Jim Buss. I doubt he would be coming back now.
"...an economy hampered by restrictive tax rates will never produce enough jobs or enough profits" JFK
Yeah...agreed. That's why I incorporated "wish"....he's doing an amazing job for Golden State as well as Northern Trust, too.
Magic and Phil are both gone for the same 'reason' - that's all I'll say on the day of his dad's passing.
Even though Jerry Buss hasn't held the day-to-day torch in a long time, it'll still be interesting to see the moves made between now (this week's deadline) and training camp this October.
I still see a scenario down the road, where Magic vacates his position with the Dodgers, and becomes owner of the Lakers.
Sadly, Dr. Buss appears NOT to have used his last bit of strength to strangle his idiot son in full view of family and hospital staff. What a shame.
Yes! Its unfortunate that the legacy that he built is going to be sullied and quite possibly ruined by his son.
Who knows? If Dr. Buss hasn't made arrangements to pass his assets ahead of time. Maybe Jim will have to sell it to help satisfy the death tax?
Why would he need to sell to pay estate taxes? That is only the case if Buss was an idiot and he was not one.
The Lakers, or rather the Buss family's controlling interest in the Lakers, is owned by a trust now managed by Jeanie, Johnny and Jim for the benefit of themselves and their three other siblings. The Lakers franchise was not a part of Dr. Buss' personal assets at the time of his death and thus not subject to the tax.
I really do not understand all the bitching we routinely see on this board about the Estate Tax. Anyone with an estate large enough such that it would be significantly affected by the tax should certainly have the resources to hire an attorney to work around the tax and perhaps avoid it completely. It's not difficult. All these sob stories about people having to sell their grandpappy's farms to pay the tax bill are bullshit.
I mourn Dr Buss from afar.
I see dark days ahead Laker fans, dark days indeed.
The good news is that Jeanie is actually in control of the franchise. Jim runs the basketball side of things but he reports to Jeanie.
Daddy knew the smarter kid.
Have you heard of the Segerstroms? The children had to sell quite a bit to pay the taxes.
I'm glad to know you are so intimately involved with Dr. Buss to know his private affairs.
I never claimed to know his private affairs. One does not need to know that he would not set up a situation where his demise would cause the necessity of the selling of the team unless he is an idiot and he is not.
This post was edited by Morethanafan 14 months ago
makes you wonder the point of the estate tax
The bigger the government, the smaller the citizen - Dennis Prager
To raise revenue.
I have not heard their story but from the little I can find online, it appears that the estate tax bill arose mainly from allegedly improperly valued real estate partnerships that were STILL part of Segerstrom's personal assets at the time of his death.
Buss' ownership interest in the Lakers is already part of a family trust and not subject to any estate tax.
seems like we should endeavor for a better method if we can all acknowledge that the truly wealthy will have the resources to avoid the tax in the first place. If no revenue is being raised are we having regulations for regulations sake?
I couldn't agree more. I hate the loopholes in most taxes, including estate taxes. Most, if not all, of those loopholes should be eliminated. E.g., there should be no deduction for estates left to charities.
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