Vinyl Me Please (store, exclusives, swaps, etc)
- Thread starter Captainfog
- Start date
highqualityrecords
Active Member
Literally yesterday. I was filmed without being asked first. Don’t really wanna get into it as it was pretty frustrating.
avecigrec
Well-Known Member
And terrible!
avecigrec
Well-Known Member
Oh, ABSOLUTELY FUCK THAT!!!
jamieanderson1968
ninniest jackaninny
Yup when a board has the option of either looking like they are negligent on their fiduciary duties or incompetent boobs, thats when the lawsuits come out
MikeH
Well-Known Member
From another poster:
“What they said is there is no parent company to both the plant and VMP, so the plant is not wholly owned by VMP. It is still not clear whether VMP and the Plant have common investors or if VMP itself has an ownership interest in the plant.”
It’ll be interesting to see more as it comes out. Seems like the board vote could have been to invest in the plant and let Cam and co run it while remaining as csuite at VMP…
“What they said is there is no parent company to both the plant and VMP, so the plant is not wholly owned by VMP. It is still not clear whether VMP and the Plant have common investors or if VMP itself has an ownership interest in the plant.”
It’ll be interesting to see more as it comes out. Seems like the board vote could have been to invest in the plant and let Cam and co run it while remaining as csuite at VMP…
MikeH
Well-Known Member
Yea it’s definitely high. But also doesn’t include store purchases, add-ons, anthologies, etc. it wouldn’t shock me if they clear that in gross sales.
The weird thing to me is how they can manage their cash flow. Especially with all the sales that probably caused a big increase in year long subs for people who are probably unlikely to resubscribe at the full price.
Yer Ol' Uncle D
Well-Known Member
Storf in court...
Last edited:
Yer Ol' Uncle D
Well-Known Member
That was purely for entertainment purposes.
bdm105
Well-Known Member
NewsFedora
Well-Known Member
A couple of lawyers are weighing in on what is and isn't revealed in the initial filing and a couple of people are inexplicably saying they have more confidence in VMP today than they did yesterday (????) and anyone complaining needs to get over it. But otherwise nah, nothing really more of note.
true, the better ponderance might be ‘i wonder if severan thinks about all this’.
JonnyH
Well-Known Member
In my experience dealing with a few different boards, the assumption one should always make is that the board only knows what it's been told.
They are on the board cause they have money. And they meet quarterly or so, and the people they fired would be the ones presenting quarterly numbers to them.
This isn't a VMP sure is dumb situation. This is a, capitalism sure is dumb situation.
Thackeraye
Well-Known Member
Adding to this, the CEO and the CFO will be the main Execs reporting to the Board. They would have been able to control what information is presented to the Board, and how. It sounds like the business had pretty poor controls - if there was a decent Delegation of Authority in place it would have been mentioned in the suit - signing a contract with a $1.5m initial payment seems like something that should have had Board approval.
Will be an interesting story to follow.
Murfocakes
custom title approved by jamieanderson1968
What made you think THEY referred to THEM? The pressing plant that THEY were advertising with the bar twice the size of the QC section was THEIRS very clearly and THEY put it in the magazines and on the THEIR website because THEY owned it but they never, ever said it was THEIRS.