Is Bob Johnson the Grinch?
The Charlotte Observer reported today thaCharlotte Bobcats majority owner Bob Johnson has blocked the attempts of minority owner Felix Sabtas to donate his shares of the team to charity.
Snippet from the Observer
Charlotte Bobcats managing partner Bob Johnson has blocked minority owner Felix Sabates' effort to contribute his share of the team to charity.
Sabates wants to give his Bobcats stock, which he values at about $1.34 million, to the foundation that supports Carolinas HealthCare System. Sabates sits on the board of that system.
"I was surprised Bob wouldn't approve this, considering it's a donation," Sabates told the Observer in an interview Friday.
I'm all for making sound business decisions and doing whats best for the future of your company, but in this case the benefits of the positive press that he and the Bobcats would receive (which is badly needed) would outweigh any negatives of allowing this charitable donation.