OT: T. Boone Pickens Dead

[Tad Footeball]

T. Boone Pickens, larger-than-life energy tycoon and Oklahoma State benefactor, dies at 91

T. Boone Pickens, legendary energy executive, philanthropist, ardent Oklahoma State University supporter and one of America's most famous...

www.dallasnews.com

Pretty interesting article.

Found him calling out Bill Gates to make the jump to donating 90% of your wealth to charity to be funny but this was the best (although A&M has done just fine on this front):

"Over the years, the largest chunk of Pickens' philanthropy — $525 million — was bestowed to OSU, almost evenly divided between academics and athletics at Stillwater, where the football stadium bears his name.

Pickens' largesse to OSU prompted Texas A&M's 12th Man Magazine to label A&M's decision not to renew Pickens' $25-a-month freshman basketball scholarship as one of the top 10 mistakes in Aggie history.

Because of that tuition slight, Pickens transferred to OSU (then Oklahoma A&M), where he earned a degree in geology in 1951.

Talk about a self-inflicted Aggie joke."

 

[JD08]

Gotta love the last laugh.

 

[Tad Footeball]

Gotta love the last laugh.

Absolutely. Pickens did spend a lottttt of money though to only get a Fiesta Bowl win over Stanford like a decade ago as the crowning achievement.

 

[DadeBaby]

I read his book, very interesting guy.

 

[Fawk_U Haters]

Absolutely. Pickens did spend a lottttt of money though to only get a Fiesta Bowl win over Stanford like a decade ago as the crowning achievement.

He put them on the map financially almost single handedly, like Phil Knight at Oregon. Dude was a BAWSE

That is great about the Texas A&M scholly

 

[423Hurricane]

A & M has managed to enlarge their bank account to a hefty amount even without Picken's philanthropy. The irony is that A & M, OSU, and even Texas have only managed to be second fiddle with all that moolah.

 

[SPAMM]

I mentioned in different threads, the OSU football foundation has a financing strategy where all the big dollar boosters take out large life insurance policies and make the foundation a beneficiary.

 

[Andrew]

Such an awesome name too.

 

[DTP]

His tombstone should read "spent a ****load of money to go 7-6".

 

[The Owl]

 

[canecane232323]

You guys realize Pickens almost bankrupted them with bull**** schemes right? Including financing the stadium renovations that they couldn't afford. His donation is a joke he cost OSU billions. He made them keep the money in his hedge fund which was solidly based on oil at its peak over $100 dollars a barrel. So the university borrowed against it instead as collateral for renovations and stadium additions as well as a ton of other projects. Oil and his hedge fund crashed and they lost their ***. They had loans being called in on them because of it. There are plenty of articles about it. It was estimated that his gift was worth 20% of the initial amount and they had far over levergaed themselves because of it.

 

[Tad Footeball]

You guys realize Pickens almost bankrupted them with bull**** schemes right? Including financing the stadium renovations that they couldn't afford. His donation is a joke he cost OSU billions. He made them keep the money in his hedge fund which was solidly based on oil at its peak over $100 dollars a barrel. So the university borrowed against it instead as collateral for renovations and stadium additions as well as a ton of other projects. Oil and his hedge fund crashed and they lost their ***. They had loans being called in on them because of it. There are plenty of articles about it. It was estimated that his gift was worth 20% of the initial amount and they had far over levergaed themselves because of it.

I have no vested interest in defending the guy but it appears* like he made them whole on the losses from the life insurance scheme and possibly the hedge fund collapse during the 2008 recession. He certainly didn't "cost OSU billions" or almost bankrupt them.

Boone Pickens Calls the Plays as Big Gift Complicates Life at Oklahoma State

T. Boone Pickens had outsize ambitions when he donated $165 million to transform athletics at his alma mater. While the football stadium was overhauled, investment troubles have stalled plans for other facilities.

www.wsj.com

 

[canecane232323]

I have no vested interest in defending the guy but it appears* like he made them whole on the losses from the life insurance scheme and possibly the hedge fund collapse during the 2008 recession. He certainly didn't "cost OSU billions" or almost bankrupt them.

Boone Pickens Calls the Plays as Big Gift Complicates Life at Oklahoma State

T. Boone Pickens had outsize ambitions when he donated $165 million to transform athletics at his alma mater. While the football stadium was overhauled, investment troubles have stalled plans for other facilities.

www.wsj.com

They have it down to 900$ billion in long term debt. It's about half of what it was. But that still is expected to have cost them 65 million in financing alone per year since 2007 or so. Meanwhile they had to jack up their tution multiple times to pay schools staff raises. He ****ed them and it was a big deal. Now i did hear about the life insurance thing but no solid numbers on how successful that has been.

 

[SWFLHurricane]

He looked like he died in 1956

 

[TheU 4ever]

T. Boone Pickens, larger-than-life energy tycoon and Oklahoma State benefactor, dies at 91

T. Boone Pickens, legendary energy executive, philanthropist, ardent Oklahoma State University supporter and one of America's most famous...

www.dallasnews.com

Pretty interesting article.

Found him calling out Bill Gates to make the jump to donating 90% of your wealth to charity to be funny but this was the best (although A&M has done just fine on this front):

"Over the years, the largest chunk of Pickens' philanthropy — $525 million — was bestowed to OSU, almost evenly divided between academics and athletics at Stillwater, where the football stadium bears his name.

Pickens' largesse to OSU prompted Texas A&M's 12th Man Magazine to label A&M's decision not to renew Pickens' $25-a-month freshman basketball scholarship as one of the top 10 mistakes in Aggie history.

Because of that tuition slight, Pickens transferred to OSU (then Oklahoma A&M), where he earned a degree in geology in 1951.

Talk about a self-inflicted Aggie joke."

One of the greatest investors of all time (together with Carl Icahn & others) , through his BP Capital Management fund! Well-known as a takeover operator and corporate raider particularly during the 1980s. RIP T. Boone Pickens!

 

[TheMatador]

He looked like he died in 1956

I've been a firm believer in supporting the aspirations of dead people to remain productive after death. Why I suggested they prop Sonny Hirsch up in the broadcast booth and hire a ventriloquist continue his play-by-play.

 

[Boarcane]

Brilliant individual and SELF MADE

 

[CaneFan79]

How much more in the will for Okie State?

How much money will Michigan get when Ross goes to the big real estate market in the sky?

We need an elderly Tycoon!

 

[ddann]

I've been a firm believer in supporting the aspirations of dead people to remain productive after death. Why I suggested they prop Sonny Hirsch up in the broadcast booth and hire a ventriloquist continue his play-by-play.

Pretty sure ESPN did that with Beano Cook for a couple of decades.

 

[TheMatador]

Pretty sure ESPN did that with Beano Cook for a couple of decades.

It's amazing how they got that real life-looking pulsating neck effect on that cadaver.

I miss Beano.....even dead Beano.