Business Management Daily recently wrote about one such case, breaking down what the IRS looks at when determining whether what you’re doing is a hobby or a business.
Sy Berger wasn’t just a guy who designed baseball cards and corralled players to sign with Topps. The late executive was a smart businessman who helped push Topps into the national conscience back in the 1950s and kept it there.
Forbes’ David Seideman highlighted Berger’s ten rules to build and sustain his thriving business.
An Arkansas bank was awarded a $14.5 million default judgment against former sports memorabilia and photo dealer John Rogers.
According to this story in Arkansas Business, the judgment is tied to four loans from First Arkansas Bank & Trust of Jacksonville that remain unpaid.
The bank sued Rogers in September, three years after it gave him a revolving line of credit and a $10 million loan.
FBI agents raided Rogers Photo Archive earlier this year and investigators have questioned him about his business dealings.
According to ESPN, Grey Flannel Auctions has offered a refund to the buyer of a pair of shoes after a former University of North Carolina team manager adamantly stated it wasn’t possible they were worn by Michael Jordan during a Tarheels game. The shoes sold for more than $33,000 late last week.
The New Jersey Attorney General’s Office is now looking into a county prosecutor’s auction of sports memorabilia. The investigation, which had been in the hands of the Bergen County Police Department, stemmed from a report by WPIX-TV, which claims John Molinelli made false statements in an official document to obtain a no-bid contract to hire Drew Max as the authenticator of a collection of seized items bearing autographs that other authenticators had rejected.
Molinelli claims honest mistakes were made and criticized the station’s reporting in a letter sent to bidders offering refunds for items they had purchased. WPIX’s latest story includes a link to that letter.