57 Million?

[jbug]

Sources reporting a BIG gift coming June 26th...
A split to The School of Bus. and Athletics...any insights?:cowbell:

[CaliforniaCowboy]

there is a thread over on orangepower that lists the donor and the details...

supposedly 1,000,000 shares of his energy company (currently around $56+ per share).

[frankeaton]

who was the goonerd back in the 80's that gave zerou his shares? ended up being worth zero for zerou

[frankeaton]

N. Malone Mitchell
...
"Malone Mitchell, III, Member, Partner, Riata Management, LLC.: Mr. Mitchell grew up in Sanderson, TX, the eldest of three children.After his graduation from Sanderson High School in 1979, he decided to follow his parents' legacy to attend Oklahoma State University.While in college, Malone met his wife, Amy, and they married in 1981.In 1983, both Malone and Amy graduated from Oklahoma State University.In 1984, they founded Riata Energy (now SandRidge Energy) with a $500 loan.Malone served as Operations Manager at Riata Energy until 1989 when he assumed the role of President and Chief Executive Officer, which he held until June 2006.During this time, Mr. Mitchell grew Riata Energy to become one of the largest privately held energy companies and the largest privately held land driller in the US, with significant midstream and tertiary oil production operations.At the time of his resignation in December 2006, Malone held the position of President and Chief Operating Officer.Currently, Mr. Mitchell serves as Managing Member of Longfellow Energy, LP, a family owned oil and natural gas exploration and production company.Recently, he and his family relocated to Oklahoma City, OK from Amarillo, TX, where they had lived for over 15 years."

[jbug]

Bud S. left 5 million to OSU ( in his will)? Seems kind of meager
for a man of his means. But thank ya BUD!

And folks , your thoughts on this theory.
T. Boone has organize a plan. He manages money in
his fund for ex-Poke and friends of Pokes. He doesn't take
a fee and the folks agree to donate X % to OSU.
Makes for an interesting possibility huh?

Thanks to all you BIG donors.:party-smiley-018:

[OSUFan]

Bud S. left 5 million to OSU ( in his will)? Seems kind of meager
for a man of his means. But thank ya BUD!

And folks , your thoughts on this theory.
T. Boone has organize a plan. He manages money in
his fund for ex-Poke and friends of Pokes. He doesn't take
a fee and the folks agree to donate X % to OSU.
Makes for an interesting possibility huh?

Thanks to all you BIG donors.:party-smiley-018:

You never seem to be happy. $5 million is $5 million. Just be grateful for once without the other comments.

[jbug]

Seem to only read for negative...
I said I was very,very thankful...but I knew Bud
and he did a lot in the past but could have done
multi, multi millions at his death.
The point being be decided to give it elsewhere
and it wasn't to the ex-wives club!
I visited with him numerous times, heard
his story of no frat selection for him
at osu,etc.etc.etc...
So the millions went somewhere (his
choice and right obviously). My
only point was it was an unfortunate
missed oportunity. OK???
Now get off my case, please!:food-smiley-007:

[jbug]

P.S. for FAN ...And do ya by chance, no underlying,cryptic meanings, have
a thought ref. T. Boone and a fund or account for OSU folks or
potential donors to OSU? Just curious because some of the
big boys are coming out of the wood work and the
Hedge Funds of T.B.P. are doing well, etc.?

[wrestlingjunkie]

Seem to only read for negative...
I said I was very,very thankful...but I knew Bud
and he did a lot in the past but could have done
multi, multi millions at his death.
The point being be decided to give it elsewhere
and it wasn't to the ex-wives club!
I visited with him numerous times, heard
his story of no frat selection for him
at osu,etc.etc.etc...
So the millions went somewhere (his
choice and right obviously). My
only point was it was an unfortunate
missed oportunity. OK???
Now get off my case, please!:food-smiley-007:



"How self rightious thy are" :music-smiley-019:

[OSUFan]

P.S. for FAN ...And do ya by chance, no underlying,cryptic meanings, have
a thought ref. T. Boone and a fund or account for OSU folks or
potential donors to OSU? Just curious because some of the
big boys are coming out of the wood work and the
Hedge Funds of T.B.P. are doing well, etc.?

I kind of understand what you are saying... have Boone manage all the donations in his hedge fund which might be a way to make even more money but donors have preferences on how and what the money is to do so if Bud Seretean wants his money to go to the Foundation then OSU should probably let the Foundation manage it unless they don't want any more money from Bud later on. You never know what is going on behind all these negotiations. Maybe Boone is behind some of them or maybe these newest donations have nothing to do with Boone and they don't want to be even associated with Boone's money or hedge funds. Also, the hedge fund is doing great but it is really scary to put all your money in one basket, err, hedge fund, because if the market changes OSU could lose it all. I hope that gives you an idea of how I feel about it. I'm just very appreciative of the gifts. Heck, I grew up and went to OSU when getting new turf was the biggest news for the athletic department in years. We are now getting the funding and facilities to compete with the big boys. It is a bright future for OSU!!!

[jbug]

Great thought Fan.
Over the years many folks have had issues with the way the Foundation did
or did not invest/manage donation money. One I remember wanted only
bonds ( back in the late 70's thru the mid-80's)... what if we had taken
his view (and he was on the Board at the time)-5% maybe? But you are indeed
correct. All in Hedge is scary! But we are borrowing against it for all
the Athletic improvements and trying to pay bills as we go per
the AD's ticket prices, etc. Sure hope it all goes well. If it does
OSU will rocket into the top tier institutions (trust/endowment wise)
within the next 10 years. If it is a wrong plan, ah we could be in
deep ^#@$.
Go Hedge, go POKES

[CaliforniaCowboy]

jbug... you're a bit behind the times, I think... the Foundation made about 21% return in 2006 (only very slightly behind Boone's fund). I didn't look at the 2007 returns, but they are doing a very, very good job of managing the Foundation dollars (from what I can tell from the annual reports).

Generally speaking, it is not a good idea to put your eggs into the Hedge Fund basket, since those are very, very high risk and would not be a prudent investment for anyone responsible for the safekeeping of donations. There may even be rules in their Charter restricting certain types of investments.

Mr Pickens is backing up the Athletics Money, and supposedly is guarenteeing it (i.e., if he loses it all, he'll replace it); which may not be extened to other managed funds like one that you are suggesting.

Also, there are SEC restrictions on Hedge Fund investing.

I understand what you are suggesting, but personally, I don't think that it is a very good approach to managing funds entrusted to the University.

It's the 'ole Risk versus Greed model...

Take more Risk when you're young because you still have time to recover if you mess up, take less risk and more guarentees when you're older so that you don't loose everything....

These funds have been entrusted to OSU, and prudence to preserve the monies should be the top priority, not necessarialy maximized growth.

[jbug]

WE ARE on the same page Cali.
I just meant that up thru the mid-80's there was one person
on the Foundation board that was for Bonds or nothing.
I believe ,and so did Platt & Area and the Investment
committee, that it would not be the best investment for
the long haul. NOT Hedge Funds per se...but a mix of
Funds, Bonds, etc.
I didn't know Boone was guaranteeing the MONEY!
That would put the U and Holder in a much better position
ref. the borrowing of funds for the construction, etc.

Thanks for the input and diversify is the name of the Long Term
Game.

[CaliforniaCowboy]

I don't personally know that OSU's BP Capital funds are guarenteed by Mr Pickens, but I believe that there is that level of understanding.

Since it's probably not 100% guarenteed, that is probably why in Banks are only allowing borrowing on 60% of the fund amount, rather then the full amout... (i.e., high risk investment).

There was a Natual Gas Hedge fund that went belly-up last year when they guy "bet" the wrong way... he lost Billions of investor's dollars.

[jbug]

A cotton farmer and oil man leaves 900,000+ to Ag. at OSU!

Nice estate donation to one of the best Divisions/schools in Stillwater.
I know a number of 'us' have osu in our estate plans (wills) so very
likely academics and atheltics will continue to get nice little bumbs
over the next 20 years from the 'little folk' as well as from the
Big Boys.

Tis the Cowboy Century! Go Pokes and GIVE what ya can.:cowboy: