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Mike Weber to St Louis


Brawndo

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2 hours ago, dudacek said:

Isn’t his buddy Ott also an assistant there?

Don’t like it, but I hope we have to get used to this. Usually means our guys are doing a good job and earning promotions.

He and Peca are doing great.   Adams is developing coaches in Rochester too.  

Big loss, but that means he will learn a lot of new things from a pretty good program under a solid head coach. 

Someday Weber could be back.  He is a real Sabre. 

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13 minutes ago, Pimlach said:

His Buffalo ties are strong with his wife's family in the area.   But still, he could leave so maybe a promo of some kind is coming? 

 

If he leaves we can bring Tim Connolly and Taylor Pyatt to replace him.😜

Edited by Flashsabre
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This is a sidecar conversion, but probably not worthy of its own thread.
 

I wondered why Michael Peca, who made $26MM during his playing career, was riding the buses in the AHL as an assistant coach. 
Turns out I didn’t like the answer. From a paywalled NY Daily News article:

“Kristin Peca was at home one day late in the 2009 hockey season when a shocking piece of mail came from the bank. Seven big, bold letters froze her in her tracks: DEFAULT. Without a whisper of warning, a lifetime of savings were gone.

"It felt like everything went black around me," Peca, a mother of two, recalled Thursday. "'Oh my gosh, that was our safety net.' I think I stood there holding that letter until Michael got home from practice.

At the time her husband, former Islanders center Michael Peca, was with the Columbus Blue Jackets, his long career reaching its end. At 34, a scar ran along his left eye and his teeth had been rearranged. He also had an Olympic gold medal from 2002, and clear ownership of a portfolio of stocks and bonds that represented, Kristin Peca said, "enough money to retire comfortably."

But it wasn’t.

”Prosecutors now say Kenner (Peca’s financial advisor) and his co-defendant, Tommy Constantine, steered their clients' money into accounts and entities that were aimless and fanciful — like a pre-paid debit card company, or a Hawaiian real estate project that went nowhere. The two men then looted to fund their own debts, lavish lifestyles and expensive pet projects such as a race-car team, a tequila company and a private jet.”

the financial advisors acquired POA for Peca and spent everything.

The Pecas lost millions with no recourse.  This might be old news to folks, but it wasn’t for me.
 

I am rooting for Michael to coach at the NHL level, specifically in Buffalo. 

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54 minutes ago, Porous Five Hole said:

This is a sidecar conversion, but probably not worthy of its own thread.
 

I wondered why Michael Peca, who made $26MM during his playing career, was riding the buses in the AHL as an assistant coach. 
Turns out I didn’t like the answer. From a paywalled NY Daily News article:

“Kristin Peca was at home one day late in the 2009 hockey season when a shocking piece of mail came from the bank. Seven big, bold letters froze her in her tracks: DEFAULT. Without a whisper of warning, a lifetime of savings were gone.

"It felt like everything went black around me," Peca, a mother of two, recalled Thursday. "'Oh my gosh, that was our safety net.' I think I stood there holding that letter until Michael got home from practice.

At the time her husband, former Islanders center Michael Peca, was with the Columbus Blue Jackets, his long career reaching its end. At 34, a scar ran along his left eye and his teeth had been rearranged. He also had an Olympic gold medal from 2002, and clear ownership of a portfolio of stocks and bonds that represented, Kristin Peca said, "enough money to retire comfortably."

But it wasn’t.

”Prosecutors now say Kenner (Peca’s financial advisor) and his co-defendant, Tommy Constantine, steered their clients' money into accounts and entities that were aimless and fanciful — like a pre-paid debit card company, or a Hawaiian real estate project that went nowhere. The two men then looted to fund their own debts, lavish lifestyles and expensive pet projects such as a race-car team, a tequila company and a private jet.”

the financial advisors acquired POA for Peca and spent everything.

The Pecas lost millions with no recourse.  This might be old news to folks, but it wasn’t for me.
 

I am rooting for Michael to coach at the NHL level, specifically in Buffalo. 

Had never heard that Peca got swindled by his advisors.  REALLY wish the pro sports leagues did a better job of vetting advisors to their players.  Especially the NHL where a LOT of the Canadian kids (and usually a lot of the guys from other countries too) have very limited formal educations.

Here's to hoping that his misfortune works out for us (and for him in the long run, a lengthy coaching career won't necessarily get him all that lost revenue back but it can get back enough of it).

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8 hours ago, Porous Five Hole said:

This is a sidecar conversion, but probably not worthy of its own thread.
 

I wondered why Michael Peca, who made $26MM during his playing career, was riding the buses in the AHL as an assistant coach. 
Turns out I didn’t like the answer. From a paywalled NY Daily News article:

“Kristin Peca was at home one day late in the 2009 hockey season when a shocking piece of mail came from the bank. Seven big, bold letters froze her in her tracks: DEFAULT. Without a whisper of warning, a lifetime of savings were gone.

"It felt like everything went black around me," Peca, a mother of two, recalled Thursday. "'Oh my gosh, that was our safety net.' I think I stood there holding that letter until Michael got home from practice.

At the time her husband, former Islanders center Michael Peca, was with the Columbus Blue Jackets, his long career reaching its end. At 34, a scar ran along his left eye and his teeth had been rearranged. He also had an Olympic gold medal from 2002, and clear ownership of a portfolio of stocks and bonds that represented, Kristin Peca said, "enough money to retire comfortably."

But it wasn’t.

”Prosecutors now say Kenner (Peca’s financial advisor) and his co-defendant, Tommy Constantine, steered their clients' money into accounts and entities that were aimless and fanciful — like a pre-paid debit card company, or a Hawaiian real estate project that went nowhere. The two men then looted to fund their own debts, lavish lifestyles and expensive pet projects such as a race-car team, a tequila company and a private jet.”

the financial advisors acquired POA for Peca and spent everything.

The Pecas lost millions with no recourse.  This might be old news to folks, but it wasn’t for me.
 

I am rooting for Michael to coach at the NHL level, specifically in Buffalo. 

 

7 hours ago, Taro T said:

Had never heard that Peca got swindled by his advisors.  REALLY wish the pro sports leagues did a better job of vetting advisors to their players.  Especially the NHL where a LOT of the Canadian kids (and usually a lot of the guys from other countries too) have very limited formal educations.

Here's to hoping that his misfortune works out for us (and for him in the long run, a lengthy coaching career won't necessarily get him all that lost revenue back but it can get back enough of it).

That is super sad. 

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10 hours ago, Taro T said:

Had never heard that Peca got swindled by his advisors.  REALLY wish the pro sports leagues did a better job of vetting advisors to their players.  Especially the NHL where a LOT of the Canadian kids (and usually a lot of the guys from other countries too) have very limited formal educations.

Here's to hoping that his misfortune works out for us (and for him in the long run, a lengthy coaching career won't necessarily get him all that lost revenue back but it can get back enough of it).

Most large US Corporations contract with investment behemoths like Fidelity, State Street, Vanguard, etc., to provide financial and investment advice and tools to employees for their retirement and other financial needs. 

The Players Association could be pooling resources to provide a similar service for NHL players.  

It is easy to get swindled.  Look at what Bernie Madoff did to investment professionals handling pensions and huge accounts.  They should have known better but they liked the consistent returns no matter the market.  

As for Michael, this is a sad story.  He will make it as an NHL coach someday and I believe that he intended to be involved in the game after retirement.  

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