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Lifelong Chicagoan, father of 4, wealth manager

5 Reasons ABC's Shark Tank is Great Television

I came home late on a Friday evening two summers ago, my then 12-year-old twins in tow, and found my wife riveted to ABC's Shark Tank, a show I knew nothing about.  I do, however, know that my actress wife cares as much about high finance as I care about the Lifetime network, so if she's hooked on Shark Tank it must be good.  

Shark Tank has a simple premise:  An entrepreneur enters a room of rich mahogany and leather chairs occupied with five "sharks" - billionaire investors ready to evaluate and invest in new ideas.  

One of my recent posts dealt with money lessons for kids.  There are five reasons Shark Tank is great family TV:

1) Shark Tank is great drama.  After entering the Shark Tank and making their pitch, entrepreneurs are subjected to grilling about their company by the "sharks."  It's fun to root for business owners or against a Shark like Kevin O'Leary, a smarmy, condescending type who refers to himself as "Mr. Wonderful" (though it turns out in business he's not so wonderful).  Contestants tell emotional stories about their life's work in the hopes of realizing their dreams.  Shark Tank captures the "art of the deal" in real time. 

2) Shark Tank offers lessons in presentation and negotiation skills.  Entrepreneurs aren't selling products as much as selling themselves.  Shark Tank offers lessons in salesmanship and the ability to think quickly.  Who could forget contestant Michael Tseng and his "plate popper" pitch?  Tseng had significant sales and a sky high valuation for his company (which he refused to give), leading to a bidding war among the Sharks before his arrogance nearly left him without a deal.  In the words of Kenny Rogers "The Gambler," you've got to know when to hold 'em, know when to fold 'em.

3) Shark Tank is a great way to learn math skills.  Can your kids do math problems in their head?  For example:  When an entrepreneur enters the Shark Tank and says he wants $70,000 for a 10% stake in the company, how much is the company worth?  In our house we see who can come up with the answer first, then guess at an effective counter offer.  Shark Tank is a response to the teenage lament, "How does this matter to me?" 

4) Shark Tank is a celebration of the human spirit.  Our society relies on ideas and innovation from small business.  We need entrepreneurs to fuel the so-called frontier economy.  Everyone who walks into the Shark Tank believes in themselves. They aren't afraid of hard work and following their dreams.

5) It's fun to witness the "Shark Tank effect." The "Shark Tank effect"  occurs when the Sharks look back on a prior investments.  The inevitable reaction is, "Why didn't I think of that?"

Are you a fan of Shark Tank?  I would enjoy hearing from you, and thanks so much for reading.

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Paula Skaggs

12:23 pm on Thursday, November 29, 2012

I love this! 'Shark Tank' is one of my favorite shows!

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William L. Gaul, CFA, CTFA

4:21 pm on Thursday, November 29, 2012

Thanks for taking time to read and comment.

William L. Gaul, CFA, CTFA

4:17 pm on Thursday, November 29, 2012

Thanks to both of you for reading and your comments. Tough to find shows these days for the whole family.

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Sue Kirchner

4:47 pm on Thursday, November 29, 2012

What a great article! I love how you turned watching TV together as a family into a fun and educational experience.

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Stevie Janowski

5:58 pm on Friday, November 30, 2012

good show, cuban makes it because Robert never buys ANYTHING

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Bree Olson

6:42 pm on Friday, November 30, 2012

I heard Barack Hussein Obama was shutting this show down because it is promoting free market capitalism.

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Jim Court

8:37 pm on Sunday, December 2, 2012

Although I have watched this briefly it gave me the impression of greed, was very condescending, and perhaps, those things that I don't like about the business world.
Unfettered capitalism leads to dumping toxic waste into the environment, taking advantage of workers, prison labor,no insurance, part time work without benefit, outsourcing jobs, etc. Money is the God of the world.We worship celebrities, trash TV is the new norm. I do not see programs like this as necessarily healthy or constructive. Yes, I admit I have only watched this program for brief periods and may have made a premature judgement. I felt the same about Jerry Springer, Maury Povich, and much of the popular TV of our day.

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Stevie Janowski

9:10 pm on Sunday, December 2, 2012

Jim, you should watch some more MSNBC. You take a fun show and think its about greed. Nice, let me tell you buddy capitalism works.

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William L. Gaul, CFA, CTFA

9:20 pm on Sunday, December 2, 2012

Jim, thanks for taking time to read and comment. We see it differently but I certainly respect your view.

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Penny Novy

9:28 am on Monday, December 3, 2012

I really like the show. But, Jim, you are wrong to compare Shark Tank with the likes of Jerry Springer, etc.

Shark Tank is not about 'unfettered capitalism leading to dumping toxic waste into the environment' yada, yada, yada. It's a show about someone with what they think is a good idea presenting it to potential investors. This show gives a little guy the chance to make a success of an idea or product. It's not about greed--to think that is viewing the entire concept of the show with a closed mind. Period.

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Bree Olson

2:35 pm on Wednesday, December 5, 2012

Jim your a socialist. Does North Korea sound like a good place to go on vacation for you?

Rich Parkes

8:27 am on Monday, December 3, 2012

I am a self made successful entrepreneur. This is one of the very few shows I watch because if you run a business it is more than 40 hrs per week. The interesting part of the show is how unprepared the presenters are for the grilling. It is like they never watched the show before coming on it. Very few people make sufficent money woprking in a company from 9-5. The large homes in your neighborhood are usually owned by someone with a small business.

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William L. Gaul, CFA, CTFA

9:23 am on Monday, December 3, 2012

Rich - thanks for your comments and great point - plenty of the presenters seem surprised by the intensity of the grilling. And yes no question small business is the backbone of our society.

Jim Court

5:24 pm on Monday, December 3, 2012

Folks,

I will try to watch it and keep an open mind. Thanks

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Stevie Janowski

11:17 pm on Tuesday, December 4, 2012

No need to change the channel, its on NBC, what more can a liberal like yourself ask for? And dont call us "folks"

CC

6:45 am on Wednesday, December 5, 2012

Shark Tank is a great show because it gives a glimpse of real life entrepreneurs trying to get their product to market. The Sharks are actually quite polite in comparison to many venture capitalists and other investors. Great show concept

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William L. Gaul, CFA, CTFA

9:31 am on Wednesday, December 5, 2012

Thanks for reading and taking time to comment,

Jim Court

7:52 am on Wednesday, December 5, 2012

Steve,

How would you address a group of people? uz guys?

I am neither a liberal or a conservative but more of a centrist.
Conservatives tend to be very narrow minded and think in black and white terms.
Possibly a result of left brain thinking. Most terrorists are recruited from engineers, who are primarily left brain. Nor am I overly emotional which often marks extreme right brain thinking. Are you going to tell me the excessive greed does not exist in our modern times. That unfettered capitalism does not lead to destruction of the environment, hiring of undocumented workers and a race to the bottom in terms of wages? I love entrepreneurship. It is in my blood. I am not for excessive entitlements whether they be for the wealthy or the poor. You seem to be rather self righteous and angry. Can I have an opinion that does not absolutely agree with yours? Probably not.

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Stevie Janowski

9:18 am on Wednesday, December 5, 2012

Jim interesting comment, unsure what i make out of the whole left brain right brain ideology, I mean you are really relating that to terrorism? Really? Stupid. Also capitalism works, you know what doesn't work? Socialism. But none the less, I am happy with the witty comment you started out with.

Abigail

10:11 am on Wednesday, December 5, 2012

Steve, no way is Jim a centrist! LOL Most liberals like to say that, but those are the ones who are far left of center.

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Jim Court

10:33 am on Wednesday, December 5, 2012

Dear Abby,

A person who is not open-minded will see anybody who has a different opinion as unacceptable. I am a fiscal conservative. I strive to have compassion to the truly less fortunate. I do not support endless wars or Imperialism. I am against bullying in any form. I detest selfishness in extreme forms. Extreme right wing or liberal views are not what I value. Since Dear Abby knows me so well will you please tell me exactly what you base your statements on? I would like to get to know me in ways only you seem to understand.

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Gary

10:39 am on Wednesday, December 5, 2012

So do you find extreme right wing opinions unacceptable?

Jim Court

10:36 am on Wednesday, December 5, 2012

Steve,

My comment about left brain thinking is correlated to a mindset. Certain careers populate this form of thinking. Engineers just happen to be overly represented in middle eastern people we call terrorists. Ones mans terrorist is another mans freedom fighter. Perspective is a variable.

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Stevie Janowski

2:28 pm on Wednesday, December 5, 2012

Also those people on jihads and 9/11 those are TERRORISTS

c. stephens

11:12 am on Wednesday, December 5, 2012

I really enjoy the show as it reflects real life. You must know what you are trying to sell, believe in it, know it's value and be willing to work and even fight to ward off the critics and put forth the effort to be successful. I appreciate the different personalities as well because that's what you get in life!

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William L. Gaul, CFA, CTFA

1:22 pm on Wednesday, December 5, 2012

So true. Thanks for taking time to comment.

Jim Court

11:23 am on Wednesday, December 5, 2012

I would judge them on an issue by issue basis. Please give me an example. I also realize that people have a right to have different opinions. I am not the final authority.
Much of who we are as people is based on experience, education, and even the biochemistry of our brains. Much research discusses this. This is not just my opinion. I look forward to your response.

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Gary

11:39 am on Wednesday, December 5, 2012

I can't give an example of an "extreme right wing opinion" because I am not sure what you would consider to be extreme. You brought it up so you must have some idea what you meant by it. Please pick an extreme right wing opinion from your own library of thought and tell us if you find that opinion acceptable.

Jim Court

11:25 am on Wednesday, December 5, 2012

It is also not wrong to ascribe to personal values. This is the foundation of who we are.
I have long realized that there are many perspectives, often of equal if different value.

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Jim Court

1:30 pm on Wednesday, December 5, 2012

Gary,

Fair enough. I probably would include issues such as extreme fundamentalism, overly militaristic points of view, the War on Drugs, no exceptions to abortion, hate groups.

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Gary

2:07 pm on Wednesday, December 5, 2012

So you don't accept these positions?

Jim Court

2:54 pm on Wednesday, December 5, 2012

Stevie

Your anger is obvious, your thinking is narrow, Most "guys" do not comment on pictures. Concern over appearance belongs to certain groups. "Steve" does sound masculine. Stevie fits you better. Left brain/ right brain is science.

Gary, It is not about acceptance, it is about disagreement with them. I relate to some Libertarian beliefs, some conservative, and some "liberal. It depends on the issue.

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Gary

3:20 pm on Wednesday, December 5, 2012

So when someone disagrees with you it's because they are narrow minded, but when you disagree with them it's because you can see all sides of the issue which puts you above it all.

Brian

3:37 pm on Wednesday, December 5, 2012

To get back on topic here, I agree somewhat with Jim's earlier post regarding the show itself...or reality TV in general. Full disclosure is that I have never seen this show, but I do get the premise. It sounds mildly like American Idol for businesses/inventors. Shows that provide everyday people with a chance at their dream do achieve some good in the end for a few people, but they are still programs designed at making money off of the people who put it all on the line only to be mocked, made fun of, and shot down for our viewing pleasure. In the realm of reality tv they aren't down there with Springer, Honey Boo Boo, Jersey Shore and the likes, but they still use these people with offering a small hope at striking it big.

I may be way off base with the show, but it still feels contrived to me. There is great TV out there, and maybe I'm missing the boat with this show but I personally still prefer good stories and clever writing.

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William L. Gaul, CFA, CTFA

10:29 am on Thursday, December 6, 2012

Brian - thanks for reading and taking time to comment. I do think there is a distinction between shows like American Idol or Shark Tank and ones like Jersey Shore, where so much is contrived.

Jim Court

3:48 pm on Wednesday, December 5, 2012

Gary,

Are you saying that narrow mindedness does not exist? You are welcome to disagree with me.

Brian,

Very well put. Just like Storage Wars where the small group of people always win, leaving out all of the other people present. The dramatic finds, the sidebar conversations. Have you seen the Bad Girls on Oxygen? Absolute filth. Much of TV is a wasteland. Jersey Shore has a huge following. So does Judge Judy, Bread & Circuses. Ancient Rome lives again.

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Brian

4:17 pm on Wednesday, December 5, 2012

Yeah....and again, I think this show (among a few others) can at least produce a good story here and there, but reality tv shows in general get rich on people wanting to see the one judge who's impossible to please tear into people's hopes, dreams, or voices...or the loveable rednecks with a fifth grade education or the trash in a beach house peeing on the bar floor. When someone like Snooki was making $150,000 per episode for doing nothing...that's a problem. Yes, it's a different type of reality show...but reality nonetheless.

Jim Court

3:54 pm on Wednesday, December 5, 2012

Bree Olson,

I have no use for authoritarian thinking of any sorts. The leadership of North Korea is a joke. Whitewater rafting would be more my style.

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Bree Olson

5:03 pm on Wednesday, December 5, 2012

You need to stop trying to promote your socialistic agenda in America. Free market capitalism with no unions and little regulation is what this country needs, not people like you saying spread the wealth, i'm lazy, give me money.

Jim Court

4:58 pm on Wednesday, December 5, 2012

No, I am not single. The TShirt says I Love Elmhurst, worn on a vacation.

You sure worry about things that no man I know thinks much about.

Where is your picture?

Thanks to you I know a good Polish joke. You.

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Stevie Janowski

5:08 pm on Wednesday, December 5, 2012

I am not a loser JIm, I dont put up a picture, no offense to you william ( the fact that you write on this site, makes the picture acceptable) but this isnt facebook Jim. Nice joke, if you want I would be more than willing to meet up so you can say that joke to my face. Doubt you want to do that though. Let me know, thanks
-Stevie

Jim Court

5:46 pm on Wednesday, December 5, 2012

Bree,

I am far from lazy. I have never asked for a hand out from anybody. Unions were a response to employees being taken advantage. Then they got greedy, especially those unions affiliated with Government. No regulation? That is what happened to trucking. The result. Unqualified drivers, bad equipment, marginal wages, lost benefits. CEO's make inordinate amounts of money even if they destroy the company. Pure capitalism is based on greed. Offer no insurance, part time jobs. China's workers operate under pure capitalism. That is why pollution is also rampant as there no controls. Do you think human nature is so decent that regulations are not needed? I am not for excessive and bureaucratic regulation. A balance must be achieved. Would you drive a car by an absolutely unregulated company? Sure market forces might catch up with them after many people died or were hurt and spent inordinate money on repairs. Are not police a form of regulation as well as traffic laws. It would be anarchy without laws and regulations. Is that really what you would want.

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Jim Court

5:53 pm on Wednesday, December 5, 2012

No shack in Warsaw. I would what nothing to do with Warsaw. You act like a low class bully and thug. Your "boys". I am sure you have many. Why do you make implied threats? For what? I read your other former commentaries. You have issues for sure.

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Stevie Janowski

6:46 pm on Wednesday, December 5, 2012

Well Jim, I find it funny that you call me "low class" I mean look at yourself, when their are homes in your neihborhood selling for under 125k (Must be the bad housing market right? Bush's fault of course too) . You my friend are so high class, that there is a 10 foot fence in your backyard to keep you from seeing the expresway behind your house. How ritzy!! You want to insult my class, well when my boys roll up in black Cadilacs, ill be sure to have them to take a picture of the bags you are wearing for clothes. Your a peasant, please stop insulting my class. Thanks,
Stevie

Bree Olson

6:01 pm on Wednesday, December 5, 2012

Can you read? Obviously not.. I said little regulation. Unions were good in the past but they aren't necessary now. There are laws that protect workers. Once again I said little regulation. Next time you comment read the entire paragraph you idiot.

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Jim Court

6:51 pm on Wednesday, December 5, 2012

Bree,

The term little regulation is vague and not measurable. How can I determine what you meant and to what degree? Unions are probably necessary. All systems of power need a system of checks and balances. The pendulum needs to swing back a little. What is with people who cannot disagree and do it in a respectful way? I never called anyone a name. If you support free markets you sure should support the free exchange of ideas. While you might not support socialism, your "idiot" statement sounds like fascism. I never said "spread the wealth" Is there not an excess of corporate welfare included in those entitlements you detest ? Is not the military and the government hugely wasteful? If you take the train to work you are being subsidized. Is the North Shore this angry? I thought this was the area of educated and intelligent people. Stop the name calling please.

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Bree Olson

7:04 pm on Wednesday, December 5, 2012

Well i can tell you one thing genius, and little sure is more than ZERO! You should no that. I support free markets and the freedom to say what ever i want. I called you an idiot for not knowing a litle is more than ZERO. With out the military we wouldn't be able to have free markets. They protect them, so in that case they aren't. Government is hugely wasteful and thats why there should be little (NOT ZERO)<<---for the challenged. I am highly educated, and toughen up you baby, whoopdiedo i called you a name. Thats the problem with society and America. Everyone is turning into weak sissies and expect a helping hand.

Jim Court

7:06 pm on Wednesday, December 5, 2012

Steve,

Class is not about money nor is it always about education. Hollywood and the sports world are filled with low class people.Lindsey Lohan must be awesome. Bernie Madoff was very intelligent.

It is about behaviors that lower class people ascribe to. Fighting and feuding are an example. Intolerance is another. Name calling, etc. We were talking about a reality program. I have a right to disagree with aspects of the program. The author of the article, with much class, supported my right to disagree. So did Brian.

Elmhurst is a pretty good community. Foreclosures are everywhere. Elmhurst is building a huge amount of million dollar homes. By the way, that is a rental property with the ability to be subdivided. I would agree I wish I had known about the expressway a little more but I will subdivide it and make good money at some point.The whole world is in an economic free fall.
Real estate has been significantly impacted. I did not manipulate the markets or receive money from the Government like the banks did. Why do you care about what I wear or how I look. Men do not worry about these things. You seem to have extraordinary concern about mens fashion.

What type of work do you do?

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Stevie Janowski

7:21 pm on Wednesday, December 5, 2012

Class is all about money Jim. You can be low class and have class, but at the end of the day your still low class. Ever heard of a high class trailer park? Me either. And sure elmhurst is a good community, but not the part of town you live in guy. And Jim I work for Reinsdorf family. You have an issue with the bulls or sox, i will gladly discuss that as well

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Stevie Janowski

7:22 pm on Wednesday, December 5, 2012

And what work are you in exactly?

Jim Court

7:17 pm on Wednesday, December 5, 2012

I am far from thin-skinned or I would be fearful to offer an opinion. I would worry about what everybody thought. It is about civility that is largely lacking. Those who must immediately resort to name calling are acting as bullies who wish to impose their worldview.

I do not want a helping hand by any measure. How would you conclude that I do?

A 'little" is more than zero. Why do you explain the obvious? Explain to me about free markets that you support. I am not against competition but a race to the bottom is not beneficial. Henry Ford realized that if he didn't pay his workers fairly they could not afford to buy his cars. WalMart pays so poorly that most of their workers collect food stamps and use emergency rooms for health care. Thus we indirectly give huge corporate welfare to Walmart, supported by taxpayer dollars.
Please explain your philosophy. I am always willing to learn.

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Bree Olson

7:34 pm on Wednesday, December 5, 2012

I only explain the obvious because in your response you didn't get that... I support in free markets letting the invisible hand create a pay for which the market and economy determines.

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Abigail

11:00 pm on Wednesday, December 5, 2012

Jim, you say that Walmart pays so poorly, can I point out that most retail jobs pay the same as Walmart. Go on the Internet and look at the salaries on glassdoor.com. You will find that Walmart isn't the only store paying low salaries. If you are going to complain about Walmart, you should complain about all retailers.

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Stevie Janowski

12:08 am on Thursday, December 6, 2012

Also Jim look at the skill level of Wal-Mart workers. Funny thing is I think a union would be worse for them. They wouldnt get it and the high rate of employees leaving the company would not make sense.

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Cari Barcas

7:35 pm on Wednesday, December 5, 2012

Hey guys,

We love the lively conversation on this post, but please keep your comments on topic and refrain from name-calling and personal attacks. Thanks!

Cari Barcas
Regional Editor

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Bree Olson

8:19 pm on Wednesday, December 5, 2012

Mr. Barcas,

Could you please give me the contact information of your supervisor or manager. I need someone with a little more authority (no offense) to tell me what I can and can not say on the internet. Last time I checked I am covered under the first amendment which gives me the freedom of speech. I could talk about hippos if I really wanted to.

Thanks, Bree Olson

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Cari Barcas

8:34 pm on Wednesday, December 5, 2012

Hi Bree,

We here at Patch are big fans of freedom of speech, and hippos for that matter. That said, by using our site, you are agreeing to abide by our terms of use, outlined at the link below.

http://elmhurst.patch.com/terms

Those terms specify that, among other things, users can't post anything defamatory, abusive, obscene, profane, offensive, threatening, harassing, inaccurate, false or misleading. We have sole discretion to moderate comments and remove any that we deem in violation of our terms of use. Hope this clarifies!

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Bree Olson

9:16 pm on Wednesday, December 5, 2012

Ok Cari, I don't see where I violated any of those things...

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Bree Olson

9:25 pm on Wednesday, December 5, 2012

Cari, I feel as if I am being harassed. I would like some names of people that are above you now.

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Cari Barcas

9:27 pm on Wednesday, December 5, 2012

I didn't say that you did, Bree. I didn't remove any of your comments. You asked what you can and cannot say, so I pointed you to our terms of use. My original request was simply that everyone play nice and keep the conversation productive. Thanks!

Jim Court

7:38 pm on Wednesday, December 5, 2012

Cari,

Always do. I do not name call.

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Jim Court

7:49 pm on Wednesday, December 5, 2012

I do not live in "that" part of town. It is a rental. Class and money are not correlated.
Mike Tyson has money. So do many gangster rappers. So do drug dealers.
Obviously you worship the concept of celebrity. Reinsdorf received huge state subsidies for his stadium. Although I have always been very athletic, I could care less about hollywood people, many athletes, and sports in general. The stadium has become the new religion and idolatry of these people rings empty with me.
I guess Dennis Rodman is classier than the nurse that helps you or the teachers you had in school. More than a policeman that protects you or a crossing guard that protects children.

I have done many things. Buying and selling real estate was one of them. Lets see. Donald Trump went bankrupt, Banks were bailed out. So was General Motors.
The Chicago Tribune went bankrupt. The State and cities are broke. The US Government is broke. The Sox cannot attract fans. No team brings us a championship. Well else would you like to know.

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Stevie Janowski

8:14 pm on Wednesday, December 5, 2012

guess your forgeting about the blackhawks, da bears, bulls and white sox. And buying selling real estate must be booming now

Jim Court

7:50 pm on Wednesday, December 5, 2012

Bree,

Under free markets employers hire illegal workers, do not report taxes, offer no health benefits, and displace American Workers. Ah, for the "free" market.

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Bree Olson

8:28 pm on Wednesday, December 5, 2012

It's all in the invisible hand Jimbo.

Stevie Janowski

8:27 pm on Wednesday, December 5, 2012

Nooo!!! Where did that great picture go Jim?

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Brian

9:25 pm on Wednesday, December 5, 2012

I think it's time to shut this down...no? Bree and Stevie and their clever pseudonyms have successfully hijacked yet another thread, with the help of their enabler Jim....can't give you two all the credit. All in a good days work.

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Jim Court

9:33 pm on Wednesday, December 5, 2012

Brian,

Did not mean to enable although I inadvertently did by responding.

I am done.

Take care.

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Bree Olson

9:49 pm on Wednesday, December 5, 2012

Well I'm not done so i guess that mean i win!

Stevie Janowski

9:46 pm on Wednesday, December 5, 2012

I am also done, I felt we had a good conversation, and look forward to seeing you down the line. Best, Stevie

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