The Ledger
Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.
why aren't all 10 resolved? a statement only gets an assessment when the public record can support or contradict it. opinions and what-ifs never can, and 0 checkable ones are still open, waiting for their date. predictions held up or didn't; assertions are supported or contradicted. on every card: ▮▮▮▮▮ certainty · ▮▮▮▮▮ debate potential. speakers are clickable
Dick's Destroyed $5M in Guns and Accepted $250M Annual Sales Loss
“After Parkland in 2018, where the shooter had bought a shotgun at Dix, Ed made a decision that would cost at least two hundred and fifty million dollars annually. No more assault rifles. No firearms to anyone under 21. They destroyed five million dollars in ex…”
Parrish: Ed Stack Borrowed $60M from GE Capital to Buy Out 60% of VC Stakes
“Ed went back to GE Capital and borrowed sixty million to buy out 60% of the venture capital stakes.”
Founder Dick Stack Sold Company to Children Under Brutal Financing Terms
“He'd sell the business to his five kids for 1.25 million, but on his terms. They'd pay him over 20 years at 12% interest and couldn't pay it off early, even if they wanted to. He'd keep the buildings and lease them back at above market rates for 25 years.”
Ed Stack Purchased 80,000 Additional Shares During Dick's Sporting Goods IPO
“Instead of cashing out like most executives, Ed bought in. He purchased 80,000 additional shares in the IPO with his own money.”
Dick Stack Built a Supermarket to De-Risk His Sporting Goods Mortgage
“He bought the lot next door, built an Acme supermarket and use the rent to cover his mortgage. If the sporting goods store struggled, he'd have income.”
Dick's Sporting Goods Faced Insolvency in 1996 After Lenders Stalled
“In 1996, Mike Hines told Ed
They'd be out of money next month.
They owed thirteen million dollars they didn't have.
The banks wouldn't restructure the debt, and the venture capitalists wouldn't put in more money until the banks restructured.”
Dick Stack Sourced Early Inventory by Reselling Retail Drugstore Goods
“Dick would open at nine, close at nine, and some days take in only five dollars, maybe seven on a good day. His margins were non-existent. He couldn't afford wholesale prices. So here's what he did do. Close the shop, drive 60 miles to Scranton, buy inventory …”
Dick's Used Wednesday Ad Inserts to Systematically Undercut Herman's
“So Dick's ran their inserts on Wednesdays, which gave them 24 hours to read Herman's Sunday ads for the following week and adjust their prices to beat them.”