Here's the official press release:
http://www.nba.com/kings/news/maloof_sports__entertainment__2011_01_11.html
http://www.nba.com/kings/news/maloof_sports__entertainment__2011_01_11.html
Welcome to Power Balance Pavillion: Home of the Kings
- Thread starter ReinadelosReys
- Start date
Nor can I, and to be honest this is a year to year deal on a POS arena that everyone hates. It makes sense if you consider a big company with a little more glitz is looking to sign a 30 year mortgage while this is a dingy apartment on a month to month rent. Besides, I think most people that buy these products understand that the effects are largely placebo or psychosomatic in nature. Some have even said they wear them strictly for fashion. At least it isn't a pyramid scheme or something more malicious.
I still believe we can get this done.
The media is actually doing a better job of talking about the economic impact of what the Kings and an arena means to Sacramento.
KCRA's Mike Teselle said, "Why this all matters so much to Sacramento is that various reports about a new arena show that the Sacramento Kings are worth between $100-400 million a year to the Sacramento region's economy."
http://www.kcra.com/video/26458131/detail.html
The media is actually doing a better job of talking about the economic impact of what the Kings and an arena means to Sacramento.
KCRA's Mike Teselle said, "Why this all matters so much to Sacramento is that various reports about a new arena show that the Sacramento Kings are worth between $100-400 million a year to the Sacramento region's economy."
http://www.kcra.com/video/26458131/detail.html
I'm probably the only one but I've honestly never heard of a ******* Power Balance bracelet before. Definitely very telling when this is the best (only?) sponsor they could get. Why not Tugboat Fish and Chips Arena? Mom and Pop's Corner Store Arena? Jim Bob's Automotive Pavilion? They weren't available?
They weren't willing to pay something on the order of $1,000,000 a year to have their name on the arena. Heck, I'd like it to be the Capt. Factorial Funky Coliseum but I don't really have the spare cash right now to make that happen. As of yet we don't know the details of the contract other than that it's a five-year deal, but the bottom of the market is around a million dollars a year and we can expect that naming rights for The Rubberband went for something in that region.
I imagine Power Balance can drop a mil on arena naming rights because 1) they're flush with cash formerly owned by idiots and 2) they have no expenses other than bulk plastic and advertising.
At least we got the answer to the question "can we somehow become more of a laughingstock?"
The Maloofs are great owners and we're lucky to have them, but they're practically being run out of town. Or literally being told to GTFO, in the case of the Sac Bee commenters.
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At least we got the answer to the question "can we somehow become more of a laughingstock?"
The Maloofs are great owners and we're lucky to have them, but they're practically being run out of town. Or literally being told to GTFO, in the case of the Sac Bee commenters.
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Most of the people who comment on the Bee's web site are negative to any story.
It seems like they're just unhappy with their lives, have a dead end job (just over broke), never been out of Sacramento, hate those who are more succesful in life, hate sports and other forms of entertainment, progression, etc.
They always bring up the same response of we need to spend money on figthing crime, on education, the homeless, etc. That's good and all because I'd like the same, but those problems will never go away. It was here before the Kings, during the Kings stay in Sacramento and into the future.
I really wish those people would at least go to LA, Phoenix, San Antonio, etc. to see how they got it done and how we could have the same, but they don't because they're all idiots.
It seems like they're just unhappy with their lives, have a dead end job (just over broke), never been out of Sacramento, hate those who are more succesful in life, hate sports and other forms of entertainment, progression, etc.
They always bring up the same response of we need to spend money on figthing crime, on education, the homeless, etc. That's good and all because I'd like the same, but those problems will never go away. It was here before the Kings, during the Kings stay in Sacramento and into the future.
I really wish those people would at least go to LA, Phoenix, San Antonio, etc. to see how they got it done and how we could have the same, but they don't because they're all idiots.
All well and good that were getting some money out of this but dead set mangement sure knows how to pick them. Our newest addition, expensive rubber bands. Joy. Here in Australia they have been absolutely thrown under the bus by the consumer watchdogs for false advertising. Its simply a monetary deal this, if we were worried about our image at all this surely wouldnt have gone through. Shows how far we have fallen
Things can't be that bad for Power Balance despite being known for selling wrist bands that "don't work" or are a part of a "scam."
From the comments left by the naysayers I was expecting an "F" rating but...
The Better Business Bureau gives Power Balance a "B" Rating and a BBB Accredited business since 03/20/2009.
"Our opinion of what this rating means:
A high rating. The company would generally have demonstrated good business-consumer relations, and we would expect any consumer complaints not to be of a serious nature and to be satisfactorily handled by the company."
There are no customer reviews on their site so it wouldn't surprise me to see some pop up now with the Bee naysayers as the culprits.
http://www.la.bbb.org/Business-Report/Power-Balance-LLC-100080525
From the comments left by the naysayers I was expecting an "F" rating but...
The Better Business Bureau gives Power Balance a "B" Rating and a BBB Accredited business since 03/20/2009.
"Our opinion of what this rating means:
A high rating. The company would generally have demonstrated good business-consumer relations, and we would expect any consumer complaints not to be of a serious nature and to be satisfactorily handled by the company."
There are no customer reviews on their site so it wouldn't surprise me to see some pop up now with the Bee naysayers as the culprits.
http://www.la.bbb.org/Business-Report/Power-Balance-LLC-100080525
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I was just gonna say the same. The kings dont care about their image. Im listening to the radio and their reading from a article in a major milwaukee newspaper making fun of the kings and power balance. This will just be the 1 st of many papers laughing at the kings. They named their arena after a product that got sued in australia and has 3 lawsuits here in the US seeking class action status. 2 in CA and 1 in FL. Sigh..........
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This is amazing. We named our arena after a product that is 100% a scam. Furthermore, I'd be willing to bet that in 2-3 years max these $60 rubber bands won't be a fad anymore which will make our name even more silly. Of course, it probably won't matter since the team will likely be playing in Anaheim at that point. 
This is amazing. We named our arena after a product that is 100% a scam. Furthermore, I'd be willing to bet that in 2-3 years max these $60 rubber bands won't be a fad anymore which will make our name even more silly. Of course, it probably won't matter since the team will likely be playing in Anaheim at that point.
I've been going to Kings games since they moved to Sacramento. For most of that time they have played at (name of oil company) Arena. I presume that Kings employees are required to say (name of oil company) whenever referring to the Arena, but since they're not paying me anything I don't feel obligated to say (name of oil company) all the time. However, (name of oil company), being a 2-syllable word, is the quickest way to refer to the place, and so it became the name we all used in Sacramento. So (name of oil company) got what they paid for when they bought the naming rights.
Now we're going to have (placebo) Pavillion. Since they'd have to pay me a lot of money to use the new official name, and since I don't expect that to happen, I'm going to have to figure out a new shorthand name for the place. 'The Arena Formerly Known As (name of oil company)' is a little long. 'The Pavillion' wouldn't work too well because Sacramento already has the Pavillions shopping area. Any ideas?
Now we're going to have (placebo) Pavillion. Since they'd have to pay me a lot of money to use the new official name, and since I don't expect that to happen, I'm going to have to figure out a new shorthand name for the place. 'The Arena Formerly Known As (name of oil company)' is a little long. 'The Pavillion' wouldn't work too well because Sacramento already has the Pavillions shopping area. Any ideas?
The BBB has been no beacon of sainthood either, being exposed in November for payola schemes and getting a higher accredited rating if you stuff a lot of cash in their wallet.
Amazed that some of you have a "nothing to see here" mentality about it. It's not just that the arena will now be named after a scam (though I do find that to be utterly embarrassing). It's that ownership seems to lack the simplest of morals sometimes, aligning themselves with a company that has ripped off countless people with such a sham product that it was essentially forced to say in Australia: "Yep, we're a scam!" If Bernie Madoff put up a pretty penny to have the arena named Madoff Arena, I bet you they'd have no qualms about taking his dirty cash either. This whole venture is one big facepalm. Why not put up a big poster of Gordon Gekko on the arena next to Evans and Cousins? The credibility of this organization continues to circle the drain. The press conference to announce this should be a hoot.
Amazed that some of you have a "nothing to see here" mentality about it. It's not just that the arena will now be named after a scam (though I do find that to be utterly embarrassing). It's that ownership seems to lack the simplest of morals sometimes, aligning themselves with a company that has ripped off countless people with such a sham product that it was essentially forced to say in Australia: "Yep, we're a scam!" If Bernie Madoff put up a pretty penny to have the arena named Madoff Arena, I bet you they'd have no qualms about taking his dirty cash either. This whole venture is one big facepalm. Why not put up a big poster of Gordon Gekko on the arena next to Evans and Cousins? The credibility of this organization continues to circle the drain. The press conference to announce this should be a hoot.
Can someone explain to me how a $60 fashion accessory that claims some questionably beneficial benefit to begin with is on par with Bernie Madoff or some kind of scam that fleeces people of millions??? Did these things purport to cure cancer and cause people to stop treatment or something? I thought they just claimed some kind of energy balance of some sort. Its obviously sham science with perhaps a psychological benefit, like the titanium necklaces or bicep bands or the great nose strip fad of the 90s.
Did they actually hurt anyone? If they did I will change my tune.
Did they actually hurt anyone? If they did I will change my tune.
Emphasis in bold. And Power Balance HAS fleeced people for millions. I don't know about you and your definition of "hurt," but I'd be hurt if I paid $60 for an item and then have company of said item be forced to publicly admit that it doesn't really do anything.
It can be them or Madoff or the hustler on a NYC street doing the Three Card Monte trick. It's different levels, but they're all con men, and the Maloofs just aligned themselves with admitted con men. They don't seem to care where they get money from as long as they get it.
It can be them or Madoff or the hustler on a NYC street doing the Three Card Monte trick. It's different levels, but they're all con men, and the Maloofs just aligned themselves with admitted con men. They don't seem to care where they get money from as long as they get it.
Ummm, Madoff fleeced individual people of their life savings. I've been to the Power Balance webpage and most of their products are in the $30 range.
If nothing else it is a fashion accessory that may lend its wearer a perceived psychological advantage. What I'm asking is who is being hurt by this? Are they requiring people to buy 100s of these things to get one? Are people going off life saving medical treatment because they were told the band would cure them of a disease? Sure its a $30 rubber band instead of buying a $1 rubber band bracelet. But people buy $200 t-shirts too. It's their money and their choice. Please help me understand who is being hurt here.
If nothing else it is a fashion accessory that may lend its wearer a perceived psychological advantage. What I'm asking is who is being hurt by this? Are they requiring people to buy 100s of these things to get one? Are people going off life saving medical treatment because they were told the band would cure them of a disease? Sure its a $30 rubber band instead of buying a $1 rubber band bracelet. But people buy $200 t-shirts too. It's their money and their choice. Please help me understand who is being hurt here.