Metropolis is Suing Voldemort 5 5

[comicdonna]

Ah, the butthurt lawsuit.  Kudos to CGC.  Some of their restoration is more like re-creation.

Edited May 12, 2018 by comicdonna

[StayInModern]

10 minutes ago, namisgr said:

So we can conclude CGC must be bankrupt, do I have that right?   

Right you are Kenny!

[jaybuck43]

10 minutes ago, comicdonna said:

Ah, the butthurt lawsuit.  Kudos to CGC.  Some of their restoration is more like re-creation.

Hm now I have to figure out a way to work that into a brief. "Your honor, the butthurt lawsuit is just that, butthurt".

[Buzzetta]

3 minutes ago, jaybuck43 said:

Hm now I have to figure out a way to work that into a brief. "Your honor, the butthurt lawsuit is just that, butthurt".

 

[CGCshouldsueStu]

21 minutes ago, comicdonna said:

Ah, the butthurt lawsuit.  Kudos to CGC.  Some of their restoration is more like re-creation.

 

[comicwiz]

32 minutes ago, comicdonna said:

Ah, the butthurt lawsuit.  Kudos to CGC.  Some of their restoration is more like re-creation.

C'mon, be rational about it. If you're bringing a car to a mechanic who also operates a dealership, and he keeps fixing your cars to allow you to sell yours, and his aren't selling as quickly or at the prices your fetching, the only butthurt is when the mechanic decides he doesn't want to repair your cars because you're competing with him.

CGC graded his books. Why they stopped is when the butthurt set in.

Edited May 12, 2018 by comicwiz

[Mr.Mcknowitall]

13 hours ago, VintageComics said:

All are welcome!

[Lazyboy]

3 hours ago, namisgr said:

So we can conclude CGC must be bankrupt, do I have that right?   

Yeah, I'm pretty sure that's how it works.

Also, Disney bought Marvel, so Marvel must have been bankrupt (um... again, I mean). I sure wouldn't want to own any expensive Marvel comics!

[Mr.Mcknowitall]

16 hours ago, comicdonna said:

There's a lot of great lawyers on the boards.  

Don't get carried away, now.......

[Old Fashion PB and J]

18 hours ago, VintageComics said:

jaydogrule's proof is his opinion, coupled with teleporting goal posts and a heavy financial investment in keeping his wheels greased.

Pat, you may not have been around long to get to know him but this is typical jaydogrules shtick. Nothing will change his mind and he's the only person that agrees with him.

 His opinion is trash, his posts are trash, his opinion is trash. I have this bag of trash figured out, I just enjoying flaring him up. He's a joke and does nothing for this forum other than stir the pot.

[Jaydogrules]

29 minutes ago, Lazyboy said:

Yeah, I'm pretty sure that's how it works.

Also, Disney bought Marvel, so Marvel must have been bankrupt (um... again, I mean). I sure wouldn't want to own any expensive Marvel comics!

Close. 

Marvel WAS nearly bankrupt when it sold off its marquee characters' rights in the past.

It was an "asset sale" to remedy their "insolvency". 

Unfortunately for Voldy, with a barely there market share and hardly any track record, there could be no coming back.  

Enter, Beckett to pick up the crumbs to see what they could salvage. 

Their best bet moving forward would be to completely scrap the "Voldy" name, create some distance between them and the numerous management and administrative mis-steps that caused the company to fail, and re-brand and learn from the mistakes from the past.  

-J.

 

[Foley]

On 5/10/2018 at 4:31 PM, Jaydogrules said:

The article specifically refers to an "asset sale".  Beckett did not simply buy out Voldy, Voldy was acquired through an asset sale.

"Asset sales" are what happen when companies and individuals go bankrupt.  

 

On 5/10/2018 at 6:36 PM, Jaydogrules said:

This is referred to as an "asset sale" for a reason, just as it is not referred to as simply a "sale of assets" in your imaginary scenario for a reason.  "Asset sales" happen when an individual or a company go BANKRUPT.

 

1 hour ago, Jaydogrules said:

Close. 

Marvel WAS nearly bankrupt when it sold off its marquee characters' rights in the past.

It was an "asset sale" to remedy their "insolvency". 

So according to you, asset sales only happen when "a company or individual goes bankrupt." However, Marvel had an asset sale when it wasn't bankrupt, just "nearly bankrupt"?

That doesn't make much sense to me. Since you know more about the topic than the actual lawyers here, would you mind explaining this for me?

[Jaydogrules]

23 minutes ago, Foley said:

 

 

So according to you, asset sales only happen when "a company or individual goes bankrupt." However, Marvel had an asset sale when it wasn't bankrupt, just "nearly bankrupt"?

That doesn't make much sense to me. Since you know more about the topic than the actual lawyers here, would you mind explaining this for me?

Never once did I say that bankruptcy was the "only" time an asset sale occurs.  I said that the term is used in a bankruptcy proceedings, as is "insolvency". And I cited relevant federal law showing such.  Insolvency precedes a bankruptcy.  An "asset sale" to cure an insolvency can occur with or without a bankruptcy proceeding being commenced however (which is what Marvel did when it is common knowledge they were on the brink of bankruptcy).

-J.

Edited May 12, 2018 by Jaydogrules

[1Cool]

1 hour ago, Jaydogrules said:

Close. 

Marvel WAS nearly bankrupt when it sold off its marquee characters' rights in the past.

It was an "asset sale" to remedy their "insolvency". 

Unfortunately for Voldy, with a barely there market share and hardly any track record, there could be no coming back.  

Enter, Beckett to pick up the crumbs to see what they could salvage. 

Their best bet moving forward would be to completely scrap the "Voldy" name, create some distance between them and the numerous management and administrative mis-steps that caused the company to fail, and re-brand and learn from the mistakes from the past.  

-J.

 

You state guess with such certainty.  Without seeing CBCS’s books I don’t know how you can say for sure what was the reason for the sale.  

[Jaydogrules]

7 minutes ago, 1Cool said:

You state guess with such certainty.  Without seeing CBCS’s books I don’t know how you can say for sure what was the reason for the sale.  

Marvel's books were never made public either when they sold off all of their characters' rights, and yet it is still somehow generally accepted fact that they were on the verge of bankruptcy.

-J.

[Foley]

1 hour ago, Jaydogrules said:

Never once did I say that bankruptcy was the "only" time an asset sale occurs.

You may not have used the words "only time", but yeah, you basically implied that. See what I quoted in my last post. It seems to be your primary "evidence" for having the opinion that Voldy went bankrupt.

1 hour ago, Jaydogrules said:

I said that the term is used in a bankruptcy proceedings, as is "insolvency".

Where did you say the term asset sale "is used in bankruptcy proceedings" as opposed to they "are" what happens when a company goes bankrupt. Please quote that for me if you don't mind

[namisgr]

55 minutes ago, Jaydogrules said:

Marvel's books were never made public either when they sold off all of their characters' rights, and yet it is still somehow generally accepted fact that they were on the verge of bankruptcy.

-J.

Marvel was a publicly traded company, so their finances were a matter of public record on at least a quarterly basis, and had begun bankruptcy proceedings.  https://web.archive.org/web/20061231205439/http://www.randomhouse.com/features/comicwars/index.html

Meanwhile, you've ignored one of Jaybuck's pieces of information, that when a company sells its assets to another, it no longer has them and can be characterized then as 'insolvent' irrespective of its financial status and security prior to its acquisition.

Edited May 12, 2018 by namisgr

[shadroch]

50 minutes ago, Jaydogrules said:

Marvel's books were never made public either when they sold off all of their characters' rights, and yet it is still somehow generally accepted fact that they were on the verge of bankruptcy.

-J.

Marvel was a public company and their books are a matter of public record. 

[shadroch]

 

 

Definition - What does Asset Sale mean?

An asset sale is completed only when the assets (as opposed to the common shares) of a company are acquired by a buyer. The buyer may incorporate a new company or use an existing company to acquire selected assets, along with management and contracts. This means the seller that sold the assets retains ownership of the company, and must pay all of the existing liabilities and debts before taking the net cash proceeds.

An asset sale carries much less risk for a a buyer since any liabilities (disclosed or undisclosed) as well as any contingent expenses (e.g., pending litigation or tax reassessments) stay back with the selling company. The due diligence can then focus on vetting the fair market value of the assets being acquired, as well as the quality of the contracts and employees being transferred over.

 

 

Divestopedia explains Asset Sale

With an asset sale, there is considerable change during and after the transaction close that needs to be managed.

At transaction close, the buyer must ensure that the acquiring company is able to continue doing business with the new assets (e.g., permitting and licensing), employees have been laid off from the selling company and rehired by the acquiring one, and all supplier and customer contacts that are being assumed have been legally transferred. Major customers need to be approached to ensure they will consent to the transfer of their contract or else the buyer risks having the contract renegotiated. Post transaction, the buyer must ensure revenue is invoiced by the acquiring company and payments go to the new company rather than continue being sent to and deposited by the selling company.

Despite the additional integration management, buyers typically prefer an asset sale because they get to write-up the assets for tax purposes and can also leave behind any liabilities or other potential "skeletons" that the selling company may have. All of this is part of the deal in a share sale.

 

Anyone see the words bankrupt or insolvent in here?   Just in case facts matter to some people. I realize its quaint, but so be it.

Edited May 12, 2018 by shadroch

[Jaydogrules]

14 minutes ago, namisgr said:

Marvel was a publicly traded company, so their finances were a matter of public record on at least a quarterly basis, and had begun bankruptcy proceedings.  https://web.archive.org/web/20061231205439/http://www.randomhouse.com/features/comicwars/index.html

Meanwhile, you've ignored one of Jaybuck's pieces of information, that when a company sells its assets to another, it no longer has them and can be characterized then as 'insolvent' irrespective of its financial status and security prior to its acquisition.

I did not ignore jaybuck's pieces of information.  I did however disgree with what I believe to be his unjustified rosy interpretation of events.  

Something like 90% of start ups fail in the first three years of operation.  There has been absolutely nothing to show that Voldy was succeeding.  Their market share is negligible, barely higher than PGX, which operates with a fraction of the overhead.  

Voldy's problem was that it wanted to enter the marketplace projecting the facade that it was as large and therefore credible as CGC.  It came into it with too many "investors", and too much overhead in order create that illusion.   Rather than EARNING that credibility, they tried to buy it.  They cut sweetheart deals with as many large scale dealers as possible in order to get as many books into their slabs upfront to get their name "out there".  I suspect that this lawsuit filed by Metro has something to do with that.  I also suspect part of the reason Voldy went belly up was to get out of those pre existing contracts.  

Unfortunately, if you are trying to run a company that "looks" as big as CGC, but only operating on ~5% of the revenues, yes you will fail, and you will fail quickly.  Seriously, this isn't rocket science and I know I'm not saying anything that most people don't already know.  They just don't want anybody to talk about it because they feel it will (further) devalue their Voldy slabs. Which it may or may not.  

Of course if they were really worried about that they could just send their books to CGC, or better yet, crack them out and enjoy them in a Mylar and full back.  

-J.