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2000 Packers Stockholder Trip Report

I guess I'll just write out how the Stockholder meeting went for me, mixing fluff with the business at hand. There's not much fluff but if you want to skip it, go down to where it says THE MEETING. I hope this presentation is adequate for the reader who wishes to get a glimpse of how the meeting evolved and how it was experienced by one Packer fan.

My parents have recently retired now and have their new lake home built, which is located outside of BRILLION, 30 miles south of Green Bay. Drove up from Milwaukee Tuesday night with the girlfriend, but it pretty much was all business. I'm buying the home my parents used to live in and I had paperwork for all of us to fill out. Stuff that no one will care to hear about, but it sure is nice having a place to stay at near Green Bay!

Wednesday morning GF and I drive into Green Bay. We drive up County Road PP, and there's a high point in the road where you can see the whole upper Fox Valley, Appleton to Green Bay. Packer Country! I always think that when we go over that hill. As for the drive, it's a beautiful day out. Too bad the meeting isn't in Lambeau Field as the last two years, but I guess it's better logistically to hold the meeting inside the BROWN COUNTY EXPOSITION CENTER.

Guests aren't allowed this year so I drop GF off at a nearby mall and just make it to my seat in time for when the meeting starts.

THE MEETING

I will now describe events as they happened. Nothing earth-shattering, though. I'm not skilled with shorthand and I didn't record the metting, so my descriptions will be more of a condensed version of events with me interpreting the context of what was said because of my inability to record word-for-word.

The stockholder meeting was called to order By Bob Harlan and the National anthem was played.

REPORT: Numbers were given for stock representation. There are 4 million shares of outstanding stock. About 2 million were represented at the meeting by actual stockholders being present or by proxy, meaning 57.08% of shares were present and a quorum existed.

FOOTBALL REPORT: Ron Wolf went through the roster describing strenghts and weaknesses. Overall he feels "we (the Packers) should be a pretty potent football team." This was met by applause. He made one comment that drew some laughs by saying "Longwell was an outstanding kicker but would like to see him make a kick to win a agme sometime in his lifetime."

His conclusion of the team is that the offense will be tough but the defense will need to step up.

TREASURER'S REPORT: Income, expenses, total this, bottom line that. Raw number type stuff.

INVESTMENT COMMITTEE REPORT: This was a report on the money the Packers have invested. Pretty basic stuff such as the 20 million the Packers have from the stock sale, waiting to be spent on the pending stadium rennovations.

AUDIT COMMITTEE REPORT: An independent company comes in and audits the Packers books. This is a standard business practice that ensures that proper procedures and policies are being followed as far as how money flows through the organization. The Packers were praised for their internal procedures in handling income and expenditures.

CORPORATE MARKETING COMMITTEE REPORT: What was presented was short and vague. The person giving the report spent most of his time plugging the upcoming "Packer's Family Night," which is the intra-squad scrimmage being held at Lambeau Field later in the month.

GREEN BAY PACKER FOUNDATION REPORT: Charities can request and apply for aid through this committee, and those involved are proud of their efforts in helping the community. INTERESTING: I was intrigued with the comment made how the Packers donate 350 items per month (jerseys, autographs, etc.) to be used by organizations to raise money. 350 per month! Approximately 1 million dollars is generated for charities through this venue.

REPORT ON LAMBEAU FIELD: This was the biggie. As we all know, the Packers are currently hoping Brown County will vote in favor of the stadium rennovations on September 12, and this report was long, highlighting all the various benefits

The Packers brought up three venues of revenue sources, those being bricks, license plates, and TAX CHECK OFF. Packer fans in Wisconsin will be able to give a portion of their tax refund to the Packers. This was news to me. It's a good idea, but I'll be surprised if this actually gets through the state legislature without a fight.

In describing the new facilities it was mentioned that there would be more female restrooms and the ladies in the crowd let out a cheer. :-)

The atrium is more or less being billed as TITLETOWN, which is envisioned as a catalyst for non-game day events in order to generate revenue. With the Hall of Fame being located here, along with the team facilities, this section of the stadium is being described as a Packer cultural and historical center. A very intriguing concept.

It was mentioned that the 4,000 new seats being reserved for non-season ticket holders, that "Brown County residents will get priority for these tickets."

Current season ticket holders will be given the option of trading in their tickets for club seats in order to help the waiting list. (I personally don't see much movement here because of the costs involved with club seats).

Brown County residents were urged to join TEAM LAMBEAU, a grass roots organization to help get the stadium referendum passed.

COMMITTEE OF DIRECTOR AFFAIRS REPORT: I thought this portion of the meeting was interesting. The board nominates renewal or new members for a term on the board and puts their names on the proxies. However, stockholders can nominate other individuals for the board in accordance with the bylaws. What was unique is that the Packers were willing to acknowledge 5 nominees who were nominated as such. The past two stockholder meetings had the Packers kind of ignoring this, but this year they publicly reported nominees up for a vote outside of who the board recommended. However, 97% of shares voted for the board nominees, so there was little chance for an outsider to break through.

QUESTION AND ANSWER

I love this part of the meeting. It's not everyday a regular guy can ask question pertaining to the operations of an NFL franchise. As I report this, please remember that I am reporting the context of what was said and not word-for-word. Also keep in mind that your regular guy on the street shouldn't be put in front of a microphone. ;-)

1) My idea is instead of 4,000 seats being made available for non-season ticket holders is to divide the stadium in half for two games, a game for each ticket package, and make 25,000 people able to go to a Packer game. Bob Harlan responded by saying "thank you for the suggestion."

2) This person made a small speech, first apologizing to Bob Harlan for all the negative things said in the media to him concerning the stadium tax. He also made several points on why the public should aid the Packers. Then he asked Mr. Harlan if the Packers truly made an effort to find a better way to rennovate Lambeau Field. Harlan responded by saying he has spent the last 17 months meeting with engineers and politicians and is convinced that the Packers are doing the right thing as far as how and why the stadium is being redone.

Harlan digressed a bit, covering several points, but one thing he said was that there have been two people in the last 50 years who are instrumental in making the Packers the great team that they are today, and they are Vince Lombardi and Ron Wolf. The crowd then gave Ron Wolf a standing ovation. Mr. Wolf thanked the crowd and then said "...but there is onle one Vince Lombardi."

3) A vague question was asked along the lines of whether higher salaries are actually enhancing the strategy used in building a team. The response was turned around to promote the passing of the stadium tax because revenue generated by the stadium will dictate the haves and have nots in the NFL.

4) A small speech was given by someone saying the community should support the Packers. Preacher preaching to the choir, more or less.

5) A man, handicapped and sitting in a wheel chair expressed his wish that the community pass the non-binding referendum in favor of selling the naming rights to Lambeau Field. The money that the city receives could be used for social services, such as helping the handicapped.

6) Can't we put backs on the seats? Harlan responded by saying that engineers have already studied this and there is no room for doing so. Harlan also used this question as an opportunity to descibe some of the positives for preserving the bowl in Lambeau Field because it was such a great venue for watching a football game.

7) Will the Packers receive compensation if Reggie White comes out of retirement? Ron Wolf responded that it would make the Packers look bad if they attempted such a move and that in the end they probably wouldn't get anything if they tried. So he wished Reggie good luck.

8) A Gold season ticket holder suggested a compromise for the Milwaukee people losing a game when the Packers left County Stadium in Milwaukee. Harlan responded by saying that when this happened, he got a lot of calls from Green ticket holders who were upset that "strangers" would be sitting in their seats at lambeau Field. [Editor's note: I'm a Gold season ticket holder and Harlan's response didn't hold much water for me. But he was attempting to make it sound like Green ticket holders also had to give something up, namely tradition.]

9) How long would a corporation be able to have naming rights if the Packers sell the Lambeau Field name. Harlan responded that it would probably be 20 years because of similar deals in other stadiums.

10) A Packer fan stated that he was opposed to using taxes to pay for a stadium. Harlan responded by saying that the Packers can't threaten to move.

11) Ron Wolf was asked who was his favorite player that he ever saw. Ron couldn't answer, there's been so many. The wuestion got a laugh from the crowd. :-)

12) Why did we get 17 million for the Browns coming into the league and only 5 million for the new team in Houston? The answer was that we're getting 23 million from Houston spread out over several years.

13) What's going to happen to Lambeau Field in 25 years if we're just going to fix it up? Wouldn't it be cheaper in the long run to build a new stadium and do it right? Harlan responded by all the work and research they've performed in studying this issue and he feels that everything has been considered and what they're planning is the right and best thing they can do for now and the next generation of Packer fans.

14) Salary cap question about how a player's salary gets deferred to future years even though the player is no longer with the team. Answer was how the signing bonuses are spread out over time and count against the cap.

15) Is there any way a non-resident can vote or get involved with the stadium referendum? Harlan responded by saying as before, we will have bricks, license plates, and the tax check box. He also talked about Packer fans in general, how one person sent the Packers a check for $1,000 for the stadium project, and a young girl who sent in three $1 bills. Inspirational stuff.

16) A zealous Packer fan talked about how all the shareholders "should grab $100" and send it in to the Packers and show these Brown County residents what we're made of.

END OF MEETING

Ron Wolf and Bob Harlan then mingled with the crowd, answering their questions. It's just stunning how the leaders of an NFL team are willing to go shoulder-to-shoulder with the average fan. This is something that you just will never see with any other team.

I get Bob Harlan's autograph. Made my day. :-)

Next, I went outside and caught up with JOHN FOOTE, a Packer/internet friend that I've corresponded with off and on the last couple of years, so it was great to finally meet him. I was really glad for the chance to meet with John.

We ate lunch at SKIP'S PLACE, a small diner that Ray Nitschke used to always eat at. The joint retired his counter stool, it being done up in a fitting memorial that only Packer fans can appreciate. Girlfriend walked up from the mall, so we all ate lunch together, talking Packers, enjoying ourselves.

I think Ray would have approved. :-)