.jpg)
b o x i n g
When I worked in investment banking, we tried to "sell a company" (i.e., partner the client) to a northern-based private equity firm that owned several industrial manufacturing facilities around the U.S.
Given the client's products, operations, markets, and geographic location, it was a perfect fit. Like Pavlov's dogs, we salivated at the fees. The client was seeing green hundred dollar bills in their sleep.
Deal-making - life and humanity - is not always business school science. It is art. The private equity firm was founded (and owned) by a billionaire family - the partner and I spoke to the principal on telephone conference, and his Managing Directors were steaming. They had offered close to $2 million more for the company, than the second highest bidder. But our client, who lived in a rural town, chose the lower offer and partnered with the local group.
A couple of weeks prior, the private equity guys had flown in to the rural town (to inspect the facility) in a private jet. I stepped inside it. It was fancy. They chartered it for the sole purpose of flying in. Bad first impression on a cowboy. If you're going to spend thousands of dollars for simple travel arrangements, instead of spending a few hundred dollars, what will you end up doing to my company which I've built up my entire life? Good question.
RECENT > Tennis' Ivanovic on SI So Draws w/ Grandmaster
.jpg)
.jpg)
Legion Followers
Given the hordes of obsessive fans that follow pound-for-pound king Manny Pacquiao, associates are loaning the Filipino icon with private jets for travel needs. Former Philippine governor Chavit Singson and Top Rank promoter Bob Arum are among two individuals with the means to provide such assistance, and who have done so recently.
In several of Eminem's songs, the rapper discloses the downside of extreme fame. He lamented the inability to perform basic human functions in a bathroom stall without fans asking for an autograph.
Pacquiao's $20,000 Flight
Travel via a private jet becomes the appropriate method in light of the wave of fans attempting to be around Pacquiao. (Hint: Give the man a break, people.) Not bad for a once-aspiring pugilist who used to jog wearing nothing more than worn out slippers in the dirt-patched trails around General Santos City.
Is flying on planes the benchmark practice for today's marketplace athlete? At the all-star level, absolutely. If Tennessee Titans quarterback Vince Young misses his team's flight back home, he can pull out an American Express credit card and obtain a personally chartered flight, thereby avoiding the airport (and fans) altogether.
There is a time-saving benefit for Manny Pacquiao, an individual who did not want to be driven 30 minutes to a local gym in Arlington, Texas - instead preferring a temporarily constructed one in his hotel building. Saves time. Time is money. But unlikely money, you can never recoup time. It is lost forever, to the Grim Reaper.
.jpg){kind=icon}
A Chartered Life
The chartered flight - on Bob Arum's dime, who ultimately charges his client millions of dollars in promotion-related fees - lets the WBO welterweight champ have uninterrupted moments of peace and quiet. In a taxing physical and mental contest, silence is golden.
There is the risk management element. Security. After Manny's bouts in the U.S., he typically leaves out of LAX (the Los Angeles airport) by way of a Philippine Airlines flight. The media, often a hounding Philippine press, keeps the camera right in front of the Pacman - bright lights, et al, on a plane. (The same questions repeat themselves, like a broken record. Out comes the same answers.)
Ratings equals advertisements. We eat up (and love) their coverage. We propose the Philippine press, and crazed fans, have not read George Washington's Rules of Civility and Decent Behavior. The bible for personal interactions.
Dozens are simply trying to catch a glimpse or take photos on their cellphone or digital cameras. Many form a circle and try to touch or tug at their idol. A few are looking to monetize the event by thrusting memorabilia at Pacquiao, such as t-shirts, posters, and gloves for a valuable autograph. And just as in a Beatles concert, some just plainly lose their mind and scream at the top of their lungs, followed by sobbing, at the mere sight of Manny. [ Related Resource: 1 (800) THERAPY ]
[ A 2nd Resource: Facebook News on Manny Pacquiao ]
Deductible
Top Rank's cost? Harvard alum Arum - who bills Manny Pacquiao seven figures in professional services - can shell out between $1,000 to $2,500 per hour for aircraft usage (flight and ground time), depending if it is a light or mid-size jet. Ultimately, the Pacman foots the bill. It's the principal's checkbook that feeds the advisors. (Hello.) In the United States, it's a business expense. Tax deductible. Uncle Sam doesn't get to horde as much. (Sarcasm)
Chartered flights' expenses can vary significantly. London to Paris, one-way, can be about $6,000. California to Dallas, Texas - three hours. And return flight - three hours. Six hours plus ground time. Assuming $2,000 per hour, say $14,000. Alright, a $20,000 round trip bill would be much (as an estimate). But you add in the two press tours which took place in Dallas and New York. That's a lot of hours. The cost in growing the appetite for luxuries? Inestimable.
When you teach a behavior, you form a habit. An excessively expensive one. (Arum, what are you doing? We see you.) The question is, from which lenses are these expenses being viewed from? The "cowboy in a rural town"? Or the "private equity big shots"? Or simply the obsessive lenses, too crazed and who are after an autograph - despite being in a bathroom setting. One thing is certain. Manny Pacquiao is running for office in May. There's plenty of poor voters.
No longer a banker, and converted to a lowly writer who must now fight Top Rank for all-access press credentials, I make my trek from Houston to Cowboys Stadium the week of March 13. iPod in tow, with old school Michael Jackson songs blaring on my eardrums, my travel costs round trip will be approximately $70 in gas from a fuel efficient Honda Accord. Plus hotel. Windows down - driving fast - pursuing what you love, life is still good.
s l i d e s h o w s >
Super Bowl Top Athletes Clottey Training Pacquiao Gym [1] Pacquiao Gym [2]
 |
 |
 |
.jpg) |
.jpg) |
Super Bowl Prep Detroit Show Female Athletes Winter Games Vancouver Prep
.jpg) |
 |
.jpg) |
 |
.jpg) |
Comments
Hey Marv, your stories just don't make sense. Who cares about superstar athletes' expenses, they earn so much... Manny's investments in the Philippines sets him up for life already. Write something more positive, like Manny's charities.
the author is just hoping to ring on Bob Arum. If Arum can foot a 20K flight for Pacman, maybe Arum can spare some 60$ or so for some publicity for his prized ward.
right Marvs? or I totally off? :D
can tell you spent some time writing and crafting this article, good job. was entertained and challenged by it.
Commercial plane is better business class or first class which ever apply. Id rather be around people than just me. He loves the fans and enjoys it while it last this does not happen all the time. The last one I remembered being mob by fans was Michael Jackson. Just manage your time wisely be ahead three or more hours of your schedule.
This would also help you can secretly depart and arrived by not announcing your schedule.
G'day.
Your write-up is a good read, albeit.
Which brings us back to reality that when the gravy train comes to nigh, and docks for the season err retirement.
The question that haunts for those who's been around, how will Manny take it? Especially his entourage who benefits and leeches from his ...
Surely, paying tax is a must that no one is exempt - a fact of life as death is. It can even chase you err heirs even if you are 6 feet underground for evasion.
Perhaps, this part of the Journey was well worth the entertainment.
I cant believe the comments here. People commenting so seriously when the author, Marv, is just trying to fancy a light topic such as a plane ride.
Its a nice article that may seem silly but is insightful
ARUM NEEDS TO TAKE GOOD CARE OF MANNY,HES THE MOST PRIZED FIGHTER HE HAS,HE CAN EVEN HIRE SOMEONE TO WASH MANNYS TUSH EVERY TIME HE DOES POTTY,HE GENERATES MILLIONS IN EVERY FIGHT MANNY HAD!MANNY DESERVES THIS PAMPERING AND HE CAN AFFORD TO THROW SOME GREENS FOR HIMSELF,HES A STAR AMONG A STAR,IT DOESNT MATTER IF HES FLYING PRIVATE OR THROWING A BIG PARTY,HIS GENEROSITY TO OTHER POOR PEOPLE IS WHAT WE SHOULD FOCUS ON,HES A ROCKSTAR NOW AND BEING A ROCKSTAR,HE DESERVES EVERY GOOD THINGS IN LIFE CAUSE HE EARNED IT WITH BLOOD SWEAT AND TEARS,AND A LOT OF PUNCHES TO HIS BODY AND FACE,HE DIDNT USE OR ABUSED ANYONE LIKE OUR POLITCIANS AND OTHER CORRUPT KNOWN PILIPINOS,WE SHOULD BE PROUD THHAT AN HONEST MAN EARN HIS LIVING IN THE RIGHT WAY!..ANG HITIK SA BUNGA PILIT PINUPUKOL,KAHIT PA SIMPLE!
will a $ 20K airplane fit inside my dad's butt-hole? he made a baseball bat fit so i think he handle a plane.
i really think so.
wanna place some bets?
ssshhhhhh... the mayweathers will be jealous again...
ARUM NEEDS TO TAKE GOOD CARE OF MANNY,HES THE MOST PRIZED FIGHTER HE HAS,HE CAN EVEN HIRE SOMEONE TO WASH MANNYS TUSH EVERY TIME HE DOES POTTY,HE GENERATES MILLIONS IN EVERY FIGHT MANNY HAD!MANNY DESERVES THIS PAMPERING AND HE CAN AFFORD TO THROW SOME GREENS FOR HIMSELF,HES A STAR AMONG A STAR,IT DOESNT MATTER IF HES FLYING PRIVATE OR THROWING A BIG PARTY,HIS GENEROSITY TO OTHER POOR PEOPLE IS WHAT WE SHOULD FOCUS ON,HES A ROCKSTAR NOW AND BEING A ROCKSTAR,HE DESERVES EVERY GOOD THINGS IN LIFE CAUSE HE EARNED IT WITH BLOOD SWEAT AND TEARS,AND A LOT OF PUNCHES TO HIS BODY AND FACE,HE DIDNT USE OR ABUSED ANYONE LIKE OUR POLITCIANS AND OTHER CORRUPT KNOWN PILIPINOS,WE SHOULD BE PROUD THHAT AN HONEST MAN EARN HIS LIVING IN THE RIGHT WAY!..ANG HITIK SA BUNGA PILIT PINUPUKOL,KAHIT PA SIMPLE!
Marv, just some feedbacks:
“…some just plainly lose their mind and scream at the top of their lungs, followed by sobbing, at the mere sight of Manny.” - u sure with this? I don’t think Pinoy of this generation do these stuff..
“…. “Ultimately, the Pacman foots the bill..” – ain’t ds a source of pride? At least MP is that independent, financially (and hopefully even when he is not in fame anymore)…
“Windows down - driving fast - pursuing what you love, life is still good.”- this is better
you change your style of writing...witty and interesting in whatever subject form.
Uncle Bob Arum is showing us how an international star of Pacquiao's magnitude should be treated. And why not? He has all kinds of money to burn. Uncle Bob Arum is also showing us Pacfans and Pachaters alike that he just just fulfilled his promise " I'LL MAKE MANNY PACQUIAO AN INTERNATIONAL MEGA STAR ". Extra-special treatment like that is a normal routine of the genuine super elite group in which Pacquiao now belongs.
WOULD YOU RATHER HAPPY FOR?
MANNY WHO TRAVEL PRIVATE BY HIS OWN EXPENSE THAT HE EARNED LEGALLY FROM HIS DESCENT AND HONEST WAY OF LIVING
OR THE POLITICIANS WHO IS ALWAYS PRESENTS IN EVERY MANNYS FIGHT ABROAD, THAT YOU CAN SEE JUMPING INSIDE THE RING EVERYTIME MANNY WINS AND CLAMORING TO GET A PICTURE TOGETHER WITH MANNY TO GAIN SOME EXPOSURE KNOWING THEY HAD LEFT MOUNTAIN OF CRISIS UNRESOLVED THAT COUNTRY IS FACING. HAS THE TIME AND MONEY TO SPEND FOR,BUT IS QUESTIONABLE WHERE THEY GOT IT FROM THAT WE ALL KNEW VERY MUCH WAS TAKEN FROM GOVERNMENT FUNDS...
I MUCH HAPPY TO KNOW THAT PAQUIAO IS LIVING THE LIFE OF HIS DREAM,SPENDING WHATS HIS,AND FEEL THE OPPOSITE FOR THOSE DAMNED POLITICIANS WHO IS OVIOUSLLY DOING" PAPOGI TIME' FOR THE BENEFIT OF THEMSELVES!
an abs-cbn article reported floyd sr. as calling pacquiao stupid and crazy for refusing to fight pbf. viewed another way, it is pbf who is low-life and moronic for insisting on unreasonable drug testing thus causing the fight to not happen. the mayweathers are like sissies don't you agree?
Mazhar,
i heard that u & ur mom also enjoy licking the contents of freshly used condoms and douche bags.
save me some - HA HA HA HA
- pursuing what you love, life is still good.
Touching. good read Mr. Marv.
Thank you so much.
nice read mark. i foresee pacquiao will be like you too from bigtime to slowtime.
from tricycle to jet; what a life for manny.
manny's behavior is formed when he was young and poor. whatever luxury he has now will not change him. the chartered flying private jet will not be a habit for manny.
just like you, he always goes back to his roots to where he really belongs...the tricycle and paragos.
just like manny, maybe you hit a one time big deal to be your own at young age...good life.
It's history in the making Marvs,in order to define the present with respect to the past ,it should definitely be contrasting.Not that it is flaunting excessively but it becomes
fitting for the occasion,meeting Texas billionaire owner of a billion dollar ultra modern stadium.Making a great statement for boxing in an NFL land.It should be louder than the single scream of a fan multiplied into chorusing hundred thousand,in order to get their attention per se.Football rings loud in every American ears and sweet too,they got to make boxing in that level to give more entertainment and a billionaires business wizzardry on display.
it should "manny 'money' pacquiao" and "floyd 'monkey' mayweather"
When you earn 10000usd/month and take a 200usd flight its normal. When you earn a 10Million dollar per fight and take a 20000usd chartered flight, its normal too. Its the same but on a different level. It shows you how much earning a lot of money can provide. :-).
if u have the money (or someone is shouldering the costs) and it's for convenience, privacy & safety(no adoring fans to pester u), then why not?
10 years after graduated from college I still travel by jeepney, now that I have a sedan and Honda CRV I still love to commute and rode jeepney from time to time. Life is still good!!
I don't get what Marv is saying here, this is America and when you make it here, you travel in style. That's what America's celebrities are used to, so let's stop with this crazy over analyzing. This won't last for long, so let Manny enjoy himself, Arum is paying for it anyway.
EL PINOY PAC GETS MORE SO HE ALSO HAS TO SHELL MORE!! AND I REALLY DON'T HAVE THE COMPREHENSION WHY SOME COMMENTS HERE ARE ALL AMPHIGORIES!! WELL THE FREEDOM OF SPEECH IS VERY ALIVE HERE BUT THERE'S GOT TO BE SOME CIVILITY!! RIGHT MR. M.D.??
good thoughtful piece, and within context, "there are no free lunches" is NOT an empty truism. also in context, mike tyson earned well over a hundred million dollars and he is (supposedly) flat broke today; add to the fact that the dollars that tyson earned then is the equivalent today of $1.25 for every dollar of today.
i sure hope/wish the money managers of/for pacquiao are doing a good job with his money (investing in the right vehicles) so that he will not be another sad story ten years down the line! but another old truism that "charity begins at home", or with oneself, that attitude of charity must begin with pacman himself.
Whatever Manny does with his money, it's his right to do so. He earned that money fair and square. Whom we need to question are those politicians back home who are on spendng spree on taxpayer's money.
additional which i just remembered :)
hagler once said, it is difficult to get up and do roadwork at five in the morning when one is sleeping on satin sheets --
not the exact words maybe but most will get the point being made -- "When you teach a behavior, you form a habit. An excessively expensive one. (Arum, what are you doing? We see you.) "
I don't get what Marv is saying here, this is America and when you make it here, you travel in style. That's what America's celebrities are used to, so let's stop with this crazy over analyzing. This won't last for long, so let Manny enjoy himself, Arum is paying for it anyway.
Enjoy life every minute as long as you can afford it and don't bother or owe some one. You'll never know what is going to happen tomorrow.
Also in order to earn money you have to spend money. Money attracks money. And that is Pack doing right now. He is a good investor and not greedy.As long as he can save some it is fine with him.
Marv,
The cost may seem astronomical but if the chartered plane sits about 20 people and it's filled to capacity then that's only about $1000 per person. It's still a lot of money for us poor folks but for someone of Pacquiao's status then it's just a little more compared to a regular air fare. Given the size of Pacquiao's entourage then a private jet would be easily filled.
I do enjoy your well thought and written articles.
i used to walk going to school and rode tricycle it got money, we have 3 cars now as reward for the sacrifice and hardwork but i still love to ride on a tricycle, jeep, bus or even carabao if situation calls. it is necessity anyway having cars. let him use the plane either for luxury or necessity no problem on that, i suppose......he got a lot money and dont worry of pacquiao going broke like other boxers i.e. mike tyson, he will not. with his so many investment i...dude don't you worry...he knows.
worry about those people expending other's money, especially those people in the government spending people's money.
Very interesting article. Even though it really has nothing to do with boxing, it's good to see another perspective on life situations. Good job.
This is not good for Pacquaio. His money management people are not working on his side. His private jet cost more than what he will be paid on this event. The people who are hanging around him should put them to work and he is got a security guard. If he has to expense this much just to avoid the fans, why not get rid of these people. This just not a good money management. Also next fight he should train in the PI as he did before half of the time.
Athletes who earn big buck in the US are not traveling by private jet. This is not good if he wants to retire soon.
too bad for chicken floyd,he only rides a tuktuk going to his promotion.
Mr.Marv Dumon. We want to know if you are American by birth or naturalized. Your above article sounds like you are NOT,more of a 3rd world country mentality.We do appreciate being wise in spending money,like our ILOCANOS Filipinos,but again Mr.Arum is an American promoting his BEST product,PACMAN.As a sales man ,he has to invest good amount,quality to ensure maximum profits.That is business.If you can afford it without sacrificing profit,it is wise move. PACMAN will NOT allow himself to be corrupted that way.It is NOT HIS LIFESTYLE.HE IS JUST THANKFUL FOR MR.ARUM HOSPITALITY.
Erik,
That is precisely what the author is pointing out, its not Arum who will pay for the expenses it manny, pls read again and this time THINK!
Floyd doesn't need all that fancy stuff, he just run like a chicken to get to his destination
why make a fuzz about pac riding a jet? how many fights did pac have in vegas...and during his travel from california to vegas for the fight he only takes his suv.
and now that he's riding jets for the promotion of his fight its suddenly a big deal.c'mon marv you can do better than this
Got something to say?
Examiner.com is looking for writers, photographers, and videographers to join the fastest growing group of local insiders. If you are interested in growing your online rep apply to be an Examiner today!