I just heard on the news that Quest communications has misstated their earning for the last 3 years.... Is Quest Communications an Anshultz property? and if so, what effect will that have on his wealth?? Dont tell me Uncle Phil is going to have an accounting scandel to deal with.... jeez not what we need!!!
Although Phil does own a significant stake of Qwest(about 20%), it is a small percentage of his overall worth. He owns a lot of other stuff from railroads to movie theaters. He's very diversified.
He owns the company but he really does not have much to do with the operation of it. Plus its stock has been low for a long time now, any losses he may have seen from it have already occured. I guess he will only have 2 billion instead of 3 billion to play with now.
I know people are pooh-poohing Uncle Phil's recent ecomonic difficulties re Qwest but I still think it's something to worry about, but unfortunately we don't really have the hard numbers to have a decent debate. There was an article in the SD Union recently (unfortunately they never linked it on their website) which quoted a few sports business types as saying Uncle Phil was "probably" going to be looking at his sports interests - specifically his soccer interests - and likely pull back from some of his investments, i.e., not be able to lose as much money as he would have been able to, say, two years ago, and certainly not be able to invest more money in them. They didn't provide any proof, but the mere fact it's being discussed in business circles says at least it's up for discussion.