Hofstra Jet Posted January 29, 2009 Share Posted January 29, 2009 got that in the mail today.. kinda sucked opening it up, and knowing what could have been. Link to comment Share on other sites More sharing options...
JohnnyHector Posted January 29, 2009 Share Posted January 29, 2009 got that in the mail today.. kinda sucked opening it up, and knowing what could have been. If it's that painful for you, feel free to sign the check over to me. I'll PM you my mailing address. Link to comment Share on other sites More sharing options...
Hofstra Jet Posted January 29, 2009 Author Share Posted January 29, 2009 well, clearly i was going to get the check back and i knew it was coming. i would have rather not gotten it back tho, and attended some playoff games Link to comment Share on other sites More sharing options...
Green DNA Posted January 29, 2009 Share Posted January 29, 2009 It's about friggin time. Why does it take a month to return the money? Link to comment Share on other sites More sharing options...
ECURB Posted January 29, 2009 Share Posted January 29, 2009 It's about friggin time. Why does it take a month to return the money? They had to wait for the interest to compound first... Link to comment Share on other sites More sharing options...
Hofstra Jet Posted January 29, 2009 Author Share Posted January 29, 2009 the form said that it was 30 days after the final game was played.. but yea, they collect interest on everything here. Link to comment Share on other sites More sharing options...
4HCrew Posted January 29, 2009 Share Posted January 29, 2009 Would be curious how much money the Jets actually make on the interest...In addition how many ticket holders like myself let the money roll over to this year tickets.. $$$$$$$$$$$$$$$$$$$$$$$ Link to comment Share on other sites More sharing options...
ECURB Posted January 29, 2009 Share Posted January 29, 2009 Would be curious how much money the Jets actually make on the interest...In addition how many ticket holders like myself let the money roll over to this year tickets.. $$$$$$$$$$$$$$$$$$$$$$$ You know they love that... imagine if say... 20k fans did that.. thats a ton of money in interest... Link to comment Share on other sites More sharing options...
Tequila Posted January 29, 2009 Share Posted January 29, 2009 You guys think they are Mackin it hard on 30 days of interest in a money market account ? Wadda ya think the yields are these days ? Ever consider the admin expense to account for and remit playoff $ back ? It aint free ya no. I'd rather see a playoff game too. Link to comment Share on other sites More sharing options...
joebabyny Posted January 29, 2009 Share Posted January 29, 2009 You guys think they are Mackin it hard on 30 days of interest in a money market account ? Wadda ya think the yields are these days ? Ever consider the admin expense to account for and remit playoff $ back ? It aint free ya no. I'd rather see a playoff game too. lets figure that the average jets playoff ticket was 170, times a seating capacity of 80,300, times 2 for both games is $27,302,000. Now fidelity's institutional money market rate is at 1.53 right now, which would give you in one month 27,336,831.52, or 34,000. Now, lets say 10 percent (a high estimate) pull their money out after one month and the rest roll over to next may as a credit, we subtract 2,730,200 to get 24,606631.50 then plug tha balance into that money market fund and get $24,732,443.23, or a profit of $159,811.73 just for holding onto our money for 5 months. And usually there are no fees involved in institutional funds. You clearly aren't very good as a marketing hype man. Do they give you a script book like they do to the cold calling retards? Link to comment Share on other sites More sharing options...
joebabyny Posted January 29, 2009 Share Posted January 29, 2009 They had to wait for the interest to compound first... usually the money market funds compound daily. Link to comment Share on other sites More sharing options...
Tequila Posted January 30, 2009 Share Posted January 30, 2009 lets figure that the average jets playoff ticket was 170, times a seating capacity of 80,300, times 2 for both games is $27,302,000. Now fidelity's institutional money market rate is at 1.53 right now, which would give you in one month 27,336,831.52, or 34,000. Now, lets say 10 percent (a high estimate) pull their money out after one month and the rest roll over to next may as a credit, we subtract 2,730,200 to get 24,606631.50 then plug tha balance into that money market fund and get $24,732,443.23, or a profit of $159,811.73 just for holding onto our money for 5 months. And usually there are no fees involved in institutional funds. You clearly aren't very good as a marketing hype man. Do they give you a script book like they do to the cold calling retards? Every money market has fees - they don't run it for free. The 10% number of refunds is way low not high - They could just be in one of Fidelity's other MM funds with yields as low as 0.30% like ticker FSIXX or FDLXX and you didn't include the cost to process and mail the refund checks. You were right about one thing - I am not a hype man Link to comment Share on other sites More sharing options...
Hofstra Jet Posted January 30, 2009 Author Share Posted January 30, 2009 Well, they keep 3 bucks on everyones money.. and also, any money gained on interest is money i would rather be getting. Link to comment Share on other sites More sharing options...
joebabyny Posted January 30, 2009 Share Posted January 30, 2009 Every money market has fees - they don't run it for free. The 10% number of refunds is way low not high - They could just be in one of Fidelity's other MM funds with yields as low as 0.30% like ticker FSIXX or FDLXX and you didn't include the cost to process and mail the refund checks. You were right about one thing - I am not a hype man LOL at giving me ticker symbols for money market funds. The rates I used were the current 7 day rates for the institutional fund which is what anyone depositing over one million dollars would be in. And that fund also has no transaction fees like I said. As far as check processing and handling fees, if the jets didn't have an agreement set up to waive that, there is no way it would cost more than a buck a check, so deduct 20,000 for the amount of season ticket holders if you want to get that granular. You sound like one of those kids I would see on the express bus going into the city reading their series 7 book like it was a molecular biology text for the shady chop shop they got a job with along with 40 other college dropouts who had a group interview wearing a cheap mens warehouse suit and a kenith cole messenger bag with a copy of Liars Poker in it. Am I close? Bet I am. Link to comment Share on other sites More sharing options...
Tequila Posted January 30, 2009 Share Posted January 30, 2009 Well, they keep 3 bucks on everyones money.. and also, any money gained on interest is money i would rather be getting. You are right about the $3 - and sure the use of the money is a factor but not knowing the team would lose the last game of the year to the Dolphins was unforeseeable by the ticket office and they planned for the best. They are an organization for profit in case we forget. Link to comment Share on other sites More sharing options...
BwanaZulia Posted January 30, 2009 Share Posted January 30, 2009 I left it with them. Yes, I know they make money on my $900 or whatever, but I already calculated it into my lower May payments for tickets. BZ Link to comment Share on other sites More sharing options...
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