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The New Owners of CGC
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Started by adamstrange,

216 posts in this topic

Paul © ® ⚽️💙™

Paul © ® ⚽️💙™

Posted
Posted
9 hours ago, comicdonna said:

Blackstone will seek to accelerate CCG’s growth, enabling the company to invest significantly in its current and planned services, adding and training new employees, expanding its geographic and product reach, acquiring new technologies and developing its digital presence. Blackstone is one of the world’s leading investment firms with nearly $650 billion in assets under management and a strong track record of creating value and a positive impact for the companies it acquires and the communities that they serve.

C. C. Melvin Ike, Principal at Blackstone, said: “As thematic investors, we look for exceptional entrepreneurial teams succeeding in growing markets, and CCG is a great example. We have been closely following the rise of the global physical and digital collectibles industry for several years and we were drawn to CCG because of their leadership role in the categories that they serve, and Blackstone’s ability to grow the platform through both organic and inorganic initiatives. We look forward to working together to help the company continue and even accelerate its impressive growth trajectory.”

Nice try Mike, but they still won't pay ya......:frown:

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jimbo_7071

jimbo_7071

Posted
Posted
4 hours ago, Chicago Boy said:

Well that didn't take long. VIDEO GAMES.  How do you think they will fair against the competition ?  Why didn't they just buy the competition ?

Shoes will be next! I'll bet a Canadian penny on it! If I'm wrong, send me a self-addressed stamped envelope, and I'll send you a Canadian penny. I promise.

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Randall Ries

Randall Ries

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Posted
On 7/3/2021 at 9:14 PM, Aman619 said:

Yes that’s the larger danger happening.  The COVID year has brought a lot of new enthusiastic buyers not afraid of current prices like we are …who frankly won’t all stick around. And Blackstone could explode the market further! But not sure Blackstone is just looking for short term profits, cause it will take years to expand CCG beyond the collectibles it already handles. 

Maybe CGC should cool its jets under Blackstone. I agree it will take years. I think CGC was slammed because of COVID but I am also not sure what the TAT was pre-COVID. Can we assume that perhaps this sale must have obviously been in the works for at least a year? Would CGC slow TAT to have it appear that they are so busy that they can't keep up? Resist new hires? Resist putting capital into new space to house more graders? You know? Lowish overhead/high demand/high income?

If NOT, then CGC had a legitimate problem. Slow TAT. Damage in the slabbing department. Ambiguous grading. If Blackstone didn't know this already or is still unaware of it, will quality improve? I find it hard to believe CGC would present itself as anything but professional in negotiations for a selling price. However, many of us know what the problems were/are. If Blackstone thinks everything is good to go, will there be improvement or will there be further cutbacks in the interest of cost saving and payroll? After all and at the end of the day, we as collectors and customers will either reap the rewards or the whirlwind as we are their base. Without us, they really don't have anything to do.

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comicartfan

comicartfan

Posted
Posted
On 7/2/2021 at 8:48 AM, G G ® ™ said:

Bring back 9.4 as the top gun.  :sumo:

I've said it before but the micro-managing of grades from 9.4 to 10.00 has caused incredible abuse and manipulation in the hobby .

If a book is near mint, great, but how can a book be near mint plus etc?  Crazy to me.

2c

Your pragmatic and intelligent solution has no place on these boards. :wink:

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Randall Ries

Randall Ries

Posted
Posted
12 minutes ago, comicartfan said:

Your pragmatic and intelligent solution has no place on these boards. :wink:

"Well well! Looks like we got ourselves a reader!" - Bill Hicks

Isn't it too late for that? If suddenly 9.4 was officially the top grade going forward, what would that make 9.6's and 9.8's? Theoretically, they would have to be sold at 9.4 pricing.

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batman_fan

batman_fan

Posted
Posted
14 hours ago, jimbo_7071 said:

Shoes will be next! I'll bet a Canadian penny on it! If I'm wrong, send me a self-addressed stamped envelope, and I'll send you a Canadian penny. I promise.

No way in Heck I would take that bet !  Graded shoes would be a real good place to go

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Paul © ® ⚽️💙™

Paul © ® ⚽️💙™

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53 minutes ago, comicdonna said:

I wonder how much it would cost to get a vintage Asteroids arcade machine slabbed?   hm

Quite a lot, especially for the price of the asteroid sized plastic tomb required. :fear:

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