Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Blame it on the Altitude Not Rated 3.0 Email Routing List Email & Route  Print Print
Thursday, July 5, 2001

Blame it on the Altitude

Reported by Sean Hanna, Editor in Chief

Invesco honchos are fighting mad about a recent column in the Denver Post. Last Sunday a column by Post sports writer Woody Paige made fun of the new name of the football stadium of the Denver Broncos, Invesco Field at Mile High. The column then went on to quote an unnamed Invesco executive calling the stadium "The Diaphragm". The column did not amuse Invesco CEO and Chairman Mark Williamson.

The fund firm initially threatened to sue the paper for defamation on Tuesday. But cooler heads prevailed and the fund firm today put out a release saying that it is no longer considering that course of action. (You can read the column causing the controversy at the Denver Post).

A spokesperson for the firm said that the release was circulated to Denver area media today. Initially, though, the two sides seemed ready to go to war in the court room.

A follow-up article in the paper claims that Williamson released a statement Sunday calling Paige's assertions "categorically untrue. ... To imply otherwise is reckless." The statement added that "Through this article, The Denver Post and Mr. Paige have impugned the reputation, character and values of Invesco Funds Group and its 850 employees."

Glenn Guzzo, editor of The Denver Post, responded to Williamson by saying, "As indicated in Woody Paige's column, there is a witness to the conversation that Invesco says never took place. Mr. Paige has informed his editors of the Invesco executive's identity and was also given a business card by the executive." He added that, "Mr. Williamson simply cannot know that 'no member of senior management has ever referred to the new stadium as was suggested, or heard anyone do so,' as the company's public-relations statement asserts."

In today's release Invesco stated that: "No officer of INVESCO ever had a conversation with Mr. Paige, but the firm has learned that an employee did have a social conversation with Mr. Paige that subsequently formed the basis for his column. These comments from one individual do not reflect the views and sentiments of the company.

The stadium is set to open in August and be used for Broncos' home football games and events such as concerts.

The flap points out the two-edged nature of deals such as the one to name Invesco Field. Fund executives may want to remember that once their name is on a civic symbol, they inevitably lose control of the conversation -- if not in the paper, then in the local bar. Something they may want to keep in mind in the future.

Related Stories:
  • Football Frenzy, 01-19-2001  

    Stay ahead of the news ... Sign up for our email alerts now
    CLICK HERE

  • 3.0
     Do You Recommend This Story?



    GO TO: MFWire
    Return to Top
     News Archives
    2025: Q3Q2Q1
    2024: Q4Q3Q2Q1
    2023: Q4Q3Q2Q1
    2022: Q4Q3Q2Q1
    2021: Q4Q3Q2Q1
    2020: Q4Q3Q2Q1
    2019: Q4Q3Q2Q1
    2018: Q4Q3Q2Q1
    2017: Q4Q3Q2Q1
    2016: Q4Q3Q2Q1
    2015: Q4Q3Q2Q1
    2014: Q4Q3Q2Q1
    2013: Q4Q3Q2Q1
    2012: Q4Q3Q2Q1
    2011: Q4Q3Q2Q1
    2010: Q4Q3Q2Q1
    2009: Q4Q3Q2Q1
    2008: Q4Q3Q2Q1
    2007: Q4Q3Q2Q1
    2006: Q4Q3Q2Q1
    2005: Q4Q3Q2Q1
    2004: Q4Q3Q2Q1
    2003: Q4Q3Q2Q1
    2002: Q4Q3Q2Q1
     Subscribe via RSS:
    Raw XML
    Add to My Yahoo!
    follow us in feedly


    1. 2025 MMI Women in Advisory Solutions Forum, Jul 15-16
    2. MFDF Director Discussion Series - Open Forum (Philadelphia), July 15
    3. MFDF webinar - M&A and Consolidation in Asset Management, July 16
    4. Nicsa webinar - How Trusted GenAI is Transforming Data Access in Asset Management, July 16
    5. WE Denver - Dinks & Drinks, July 17
    6. MFDF webinar - ETF Conversions, July 17
    7. MFDF Director Discussion Series - Open Forum (New York), July 22
    8. MFDF Ask Anything webinar - AI Edition, July 24
    9. MFDF webinar - Use of Derivatives by RICs, July 29
    10. MFDF Director Discussion Series - Open Forum (Columbus, Ohio), August 20
    11. Samfund Soiree Boston 2025, August 21
    12. MFDF webinar - The Audit Committee Chair's Guide to Balancing Duties and Emerging Issues, September 3
    13. ICI ETF Conference, Sep 8-10
    14. Nicsa webinar - Reimagining Reconciliation: AI, Regulation, and Capital Markets Transformation, September 10
    15. MFDF webinar - Series Trust Funds - Compliance and Board Reporting, September 10
    16. MFDF In Focus - Board Oversight of DEI in Current Landscape, September 11
    17. MFDF webinar - MFDF 15(c) White Paper Webinar Series: Part 4 – Enforcement Action Takeaways, September 16
    18. MFDF webinar - Latest in Closed-End Funds Litigations, September 23
    19. MFDF webinar - Fixed Income Insights: Navigating Market Trends & Opportunities, September 24
    20. MFDF webinar - Risk Management Essentials for RICs and Boards, September 29
    21. MFDF webinar - Diligent - Tools for Fund Board Book, October 1
    22. 10th annual Fuse Forum, October 8
    23. MFDF webinar - Essential Strategies in Board Oversight of Operational Risk Management, October 14
    24. 2025 MMI Annual Conference, Oct 15-17
    25. MFDF webinar - Series Trust Funds - Effective Board Relationships with Advisers, October 15
    26. MFDF In Focus webinar - Audit Committee Chair, November 5




    ©All rights reserved to InvestmentWires, Inc. 1997-2025
    14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
    Privacy Policy :: Terms of Use