Welcome to Power Balance Pavillion: Home of the Kings

Francisco d'Anconia said:
No shouting. We will all fall silent, breathe in white light through our crown chakra as we caress our power bracelets and hold a positive intention for Boogie to make the free throw. We can hawk crystals and power bracelets in the concourse. We will be the grooviest new ageiest fans in the NBA.
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I can see it now...lol! :)
 
Francisco d'Anconia said:
No shouting. We will all fall silent, breathe in white light through our crown chakra as we caress our power bracelets and hold a positive intention for Boogie to make the free throw. We can hawk crystals and power bracelets in the concourse. We will be the grooviest new ageiest fans in the NBA.
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They can turn the sound-level meters on the scoreboard upside-down and Scott Moak could encourage us to get as quiet as possible. Then, when the meter reaches the "top" it could drop a pin out of the scoreboard and we can all listen to it hit the hardwood! Excitement!
 
Let's not forget when Arco was first named "ARCO Arena," fans refused to call it as such. They tried calling it "King's Arena" for a while.
 
Larry David said:
http://markets.financialcontent.com/stocks/news/read?GUID=17157604

Power Balance is now facing a class action lawsuit in CA.
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Well, I can't speak to what previous claims may have been made by the company, but they're certainly not making any on their website now. The wristband is claimed to be "a favorite among athletes" ... "athletes believe in the product" ... "the founders wanted everyone...to maximize their potential and live life to the fullest" ... "The holograms are deisgned to last indefinitely" ... "While we have received testimonials...there is no assurance it can work for everyone"

They're claiming absolutely nothing at this point. Which is obviously the smart thing to do businesswise. I kind of doubt the class action lawsuit will hurt them too bad - if they did make claims in the past they'll likely lose it, but how many people will join? The people who bought these want to believe in them, not to disbelieve in them.
 
Capt. Factorial said:
Well, I can't speak to what previous claims may have been made by the company, but they're certainly not making any on their website now. The wristband is claimed to be "a favorite among athletes" ... "athletes believe in the product" ... "the founders wanted everyone...to maximize their potential and live life to the fullest" ... "The holograms are deisgned to last indefinitely" ... "While we have received testimonials...there is no assurance it can work for everyone"

They're claiming absolutely nothing at this point. Which is obviously the smart thing to do businesswise. I kind of doubt the class action lawsuit will hurt them too bad - if they did make claims in the past they'll likely lose it, but how many people will join? The people who bought these want to believe in them, not to disbelieve in them.
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I believe they were tried in Sydney and forced to remove such claims from their website.

The funny thing is a lot of people still wear them and believe in them. A local radio show did an hour on the topic a couple weeks ago, and one of the hosts claims that his parents, both diabetic, have noticed improvements in their health and their glucose readings. The other host said his son wears one, and they've noticed a difference in his attention span. (Neither host is getting paid by Power Balance. They're both standup guys and made it clear that they have no sponsorship agreement with the company. And both acknowledged that there's a likely placebo effect.) None of this is scientific. We don't know if the guy's parents may have made subtle changes in their diets, or if the other guys son is just getting older and calming down, or whatever. But people really believe that there's something to these things, even though the company has essentially said "there's nothing to these things."
 
Capt. Factorial said:
Well, I can't speak to what previous claims may have been made by the company, .... They're claiming absolutely nothing at this point.
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That’s not where the lawyers are going.

In the past, PB made vague references and demos asserting their product did something (not just company but reps), and now they’ve publicly admitted it does not. Thus, the lawyers pretty much have what they need to work them over. At this point, this law firm is most likely looking for any upset purchasers and/or people who want a refund and are willing to say they were fooled. I’m sure the lawsuit concerns fraud and a host of violations of California’s very strong consumer protection laws.

At this point, PB is looking at: (1) a huge legal bill, (2) most likely, paying a lot of the other side’s legal bills; (3) a lot of refunds; and (4) some small measure of damages for everybody that gets in line.

This news is very very bad for PB. In Australia, the government came after them and they had to admit the product is placebo to sell it. Here, lawyers are coming after them for money.
 
The company being sued is hardly news at this point. Anybody who bought the bracelet actually believing it worked is probably a bit too gullible. Its hard to imagine this adding up to a lot of money in a suit. Other than being gullible enough to fork over some money, what damage did people really suffer? I find it really hard to believe that everyone who bought one actually believed it would boost their athletic abilities.

Athletes, in general can be very superstitious. This bracelet is only one of thousands of items/ideas claimed over years (probably centuries) to help athletes perform better (like abstention from sex). Anybody should approach such claims with skepticism.

(But the pill that is supposed to give me a buff body in six weeks better work. ;))

I wouldn't sue, simply because I wouldn't want to admit that I actually believed it would boost my physical abilities. Snake oil, anyone? How embarrassing.

Besides, I think a lot of people have been buying them, just because they're a fad and/or maybe their favorite athlete wears one. Sort of like wearing Michael Jordan's branded shoes. Do you think some people actually thought they'd play more like Mike or at least better? That's what the commercials intimated.

The funny thing is, that placebos can work quite well. If a person really believes something works, it just might actually help some, even if negligibly.
 
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kennadog said:
The company being sued is hardly news at this point. .
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When a big source of the team’s revenue, the company with the naming rights:
1 - Already has a very cloudy future;
2 – Gets hit with a very expensive lawsuit
It’s news.

You folks don’t want to sue. There will be people that read about it and say, “What I can get free money.” And they will sign up.
This was very very bad news for PB.
 
I'm saying its not news that the company is having problems over this. Its already been in the headlines and its natural that some lawyers wanted to strike with a lawsuit while the financial rewards might be greatest. This is a sue happy country, unfortunately, no matter how silly the suit is. And I think if a person really thought the bracelet would make them physically perform better, then they are responsible for their own gullibility.

I have bought crystals. I think some are very pretty and I'm a little enamored with the ancient beliefs that they might have positive influences. Do I really think they are going to change anything in my life, just because I bought them? Heck no. And I'm not going to sue the crystal sellers, if they don't ever work. You can't protect people from their own stupidity and I don't really think some things should be rewarded in a lawsuit. Its the lawyers who win this battle.

Which will probably go on a lot longer than PB's naming rights contract with MSE. Furthermore, if PB can't live up to their agreement with MSE, that's grounds for termination by MSE. Problem solved.
 
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Larry David said:
When a big source of the team’s revenue, the company with the naming rights:
1 - Already has a very cloudy future;
2 – Gets hit with a very expensive lawsuit
It’s news.

You folks don’t want to sue. There will be people that read about it and say, “What I can get free money.” And they will sign up.
This was very very bad news for PB.
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I'm with Kenna here. If PB defaults, then the Maloofs just go looking for another sponsor. At any rate it's not such a "big source" of revenue as you imply - the deal is thought to be for about $1M per year, right? That's a pretty small chunk when your player payroll alone is between $40M and $50M. And while the PB deal may have been the best the Maloofs could get, do you really think it's the only one? Even if 1) PB defaulted and 2) the Maloofs signed on with somebody else for "only" $750K, the net loss is $250K.

I'm inclined to think not a lot of people are going to run to join a class-action lawsuit when they stand to profit $30 (probably minus a chunk to the lawyers) and have to basically admit to themselves they were duped to get even that. Shoot, most of their customers probably won't even hear about the lawsuit to join it even if they wanted to. I just don't remember any companies ever going bankrupt over a class-action lawsuit. Maybe it has happened, but I don't remember it.

I just don't see any reason to panic.
 
Capt. Factorial said:
I'm with Kenna here. If PB defaults, then the Maloofs just go looking for another sponsor. At any rate it's not such a "big source" of revenue as you imply - the deal is thought to be for about $1M per year, right? That's a pretty small chunk when your player payroll alone is between $40M and $50M. And while the PB deal may have been the best the Maloofs could get, do you really think it's the only one? Even if 1) PB defaulted and 2) the Maloofs signed on with somebody else for "only" $750K, the net loss is $250K.

I'm inclined to think not a lot of people are going to run to join a class-action lawsuit when they stand to profit $30 (probably minus a chunk to the lawyers) and have to basically admit to themselves they were duped to get even that. Shoot, most of their customers probably won't even hear about the lawsuit to join it even if they wanted to. I just don't remember any companies ever going bankrupt over a class-action lawsuit. Maybe it has happened, but I don't remember it.

I just don't see any reason to panic.
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If it goes like most previous class-action lawsuits, they will get a $5 voucher for their next Power Balance product purchase and the lawyers will split any actual $$$ exchanging hands.

Um, Brick, no offense, you understand. ;)
 
Exactly what I was thinking Warhawk. I've only been party to one class action lawsuit that has been anything but a huge cash grab for lawyers. And even in that case I probably received a fraction of the actual damages (+ a nice surprise from the IRS).
 
Maybe not?

The arena where the Sacramento Kings play is now technically called Power Balance Pavilion, but don't look for any new signs on the building yet.

​

Power Balance officials said they are holding off for now on making a visible change to the Natomas venue, especially as questions linger about whether the Kings will remain in Sacramento.

http://www.kcra.com/news/27036112/detail.html

-----------------------------------------------------------------------------------
Plans to install new lettering on all four sides of the arena have been put on hold "by mutual agreement," according to Power Balance spokesman Adam Selwyn.

The ARCO logo and letters were removed earlier this month, leaving just a faint trace of the name that graced the arena since it was built in 1988.

Pacific Neon was prepared to begin putting up the new Power Balance letters and logo last Thursday, sources told News10, but was notified by Maloof Sports & Entertainment on Wednesday that the building wasn't ready for the new signage.

Arena spokesman Mitch Germann said damage to the building's fascia from the ARCO signage was more extensive than originally thought and work was underway to repair the stucco.

Selwyn confirmed the reason for the delay is not simply structural.

"Both parties agreed to put it on hold until things become more clear," Selwyn said, referring to the Maloofs' negotiations that could lead to them moving the Kings to Anaheim.

http://www.news10.net/news/local/story.aspx?storyid=125525
 
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kingsboi said:
Well the name is pretty freakin retarded I must say. I don't like it at all. The next set of news will be if the Kings are staying or departing. By the looks of it, a departure is inevitable, I just hope they find a good market.
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I know the word "retarded " has snuck into the language but it's offensive to me. Take that for what it's worth.
 
Dose any remember the original ARCO deal? It was $1 million forever. So the Kings over the first 25 years made a million and now it's a million a year. I believe that's the going rate for a town this size. Sees like I've heard that number before like Amway Center.

Present deal pays for Thornton or a little Pooh.


Never mind. The Magic get $4 mil per year. Probably says a lot for what class of industry is in Sacto.
 
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Glenn said:
I know the word "retarded " has snuck into the language but it's offensive to me. Take that for what it's worth.
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I wouldn't be too concerned. I don't believe a name can be retarded, as it has no brain and is incapable of thought. Hmmm, reminds me of some people I know....
 
Glenn said:
Dose any remember the original ARCO deal? It was $1 million forever. So the Kings over the first 25 years made a million and now it's a million a year. I believe that's the going rate for a town this size. Sees like I've heard that number before like Amway Center.

Present deal pays for Thornton or a little Pooh.


Never mind. The Magic get $4 mil per year. Probably says a lot for what class of industry is in Sacto.
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I believe the last contract was $750,000 per year.
 
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