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Post by mistery on Jul 25, 2022 8:58:28 GMT -5
So this…puts some of it in a whole new context. Yeah, so this is in some ways kind of a smokescreen to distract from potential wacky reporting that could be coming out. While its probably a smokescreen, it also pretty much seals Vince's fate. Because you don't spend company/investor money to cover up scandals. That is a very, very, very good way to be on a one way track to the unemployment line.
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Post by polarbearpete on Jul 25, 2022 8:59:11 GMT -5
So this…puts some of it in a whole new context. Yep that’ll do it. That might’ve been the tipping point, when it was discovered he used the company funds to pay for these settlements. Funnily enough, the stock is up big so far today.
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Post by polarbearpete on Jul 25, 2022 9:00:33 GMT -5
EDIT: For my cynicism about these changes being seen right away, this is a good start considering HHH's own history with running NXT (even if the foundations of doing that was to basically raid and smother the indies to an extent). Well, that’s huge. Might deserve its own thread? I wonder how Bruce gets along with Triple H and Stephanie now, because it doesn’t seem like he’d be one of their guys. Could be different now, though. This has to be great news for some of those released NXT talents that are still out there (Dakota, Gargano, Kross, Bronson), plus someone like Io who Triple H clearly loved.
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Post by Finish Uncle Muffin’s Story on Jul 25, 2022 9:00:51 GMT -5
Yeah, so this is in some ways kind of a smokescreen to distract from potential wacky reporting that could be coming out. While its probably a smokescreen, it also pretty much seals Vince's fate. Because you don't spend company/investor money to cover up scandals. That is a very, very, very good way to be on a one way track to the unemployment line. Oh, for sure. I meant this was a way to get some folks excited that may not care as much about the business day-to-day. Shit's about to get really bad for Vince, I think. Especially if reporting comes out about that 14 million and if it's on top of what we've already heard about.
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Post by canceled4truth on Jul 25, 2022 9:04:51 GMT -5
Corporate boards, being the bastions of moral integrity they are, care more about money being misused than personal impropriety. So yeah, unless something bigger drops (which I'm not discounting as possible) this is probably what did it.
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Post by Feargus McReddit on Jul 25, 2022 9:06:26 GMT -5
While its probably a smokescreen, it also pretty much seals Vince's fate. Because you don't spend company/investor money to cover up scandals. That is a very, very, very good way to be on a one way track to the unemployment line. Oh, for sure. I meant this was a way to get some folks excited that may not care as much about the business day-to-day. Shit's about to get really bad for Vince, I think. Especially if reporting comes out about that 14 million and if it's on top of what we've already heard about. Like, even taking away from what the scandals are, we’re potentially talking about a good $15m of company finances being used for stuff that isn’t what shareholders are buying into company wise. And if it’s affecting financials for the last 4 years…yeah, if they didn’t have the power to throw him out of his ass, they’d certainly have the power to sell and ask one question at shareholders meetings from now until he left.
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A damn road sign
Samurai Cop
"What the hell am I? A school crossing?"
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Post by A damn road sign on Jul 25, 2022 9:08:22 GMT -5
I’m still pissed they took Worlds Apart away from Sami Zayn, because that thing is a masterpiece. Much like Nakamura, it’s so when they turn back face they’ll get a massive pop. I get it, there was just something great about heel Sami Zayn still gleefully bopping his way to the ring to ska music that felt right, ya know? 😅
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Post by Finish Uncle Muffin’s Story on Jul 25, 2022 9:09:09 GMT -5
One other thought, for what it's worth. Everybody knew this was coming out on Monday, so they let him "retire" and led a "Thank you Vince" chant on Friday before it was revealed this morning that the dude defrauded shareholders.
This company is still carny AF.
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Post by polarbearpete on Jul 25, 2022 9:11:32 GMT -5
One other thought, for what it's worth. Everybody knew this was coming out on Monday, so they let him "retire" and led a "Thank you Vince" chant on Friday before it was revealed this morning that the dude defrauded shareholders. This company is still carny AF. Of course it’s carny, but I highly doubt the crowd wouldn’t have chanted if it had come out before that he used company funds to pay settlements. That’s not really something those in the arena are going to care about. Pretty wild that the show tonight is in a sold out MSG. That can be very interesting if it’s a smarky crowd tonight.
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Post by Feargus McReddit on Jul 25, 2022 9:12:21 GMT -5
One other thought, for what it's worth. Everybody knew this was coming out on Monday, so they let him "retire" and led a "Thank you Vince" chant on Friday before it was revealed this morning that the dude defrauded shareholders. This company is still carny AF. Like, it wasn’t just that, they put it in the same press release as HHH becoming head of creative knowing full well that was what the wrestling media was going to talk about and just slipping at the bottom that he resigned and the last four years of financials have to be reassessed. They didn’t even put this stuff on a Friday where most companies put bad news so nobody sees it.
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Post by xCompackx on Jul 25, 2022 9:17:37 GMT -5
HHH is the guy who looked at Adam Rose and said something to the effect of "I don't get it, but the crowd loves it". Yeah, impossible for this to not be a good thing.
Also, defrauding your company $14.6 million is certainly a move.
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Post by Finish Uncle Muffin’s Story on Jul 25, 2022 9:19:49 GMT -5
One other thought, for what it's worth. Everybody knew this was coming out on Monday, so they let him "retire" and led a "Thank you Vince" chant on Friday before it was revealed this morning that the dude defrauded shareholders. This company is still carny AF. Like, it wasn’t just that, they put it in the same press release as HHH becoming head of creative knowing full well that was what the wrestling media was going to talk about and just slipping at the bottom that he resigned and the last four years of financials have to be reassessed. They didn’t even put this stuff on a Friday where most companies put bad news so nobody sees it. I think that was strategic to the business. You throw that out on Friday, investors have a full weekend to get spooked. For what it's worth, the stock is up right now.
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Post by Vice honcho room temperature on Jul 25, 2022 9:21:18 GMT -5
The stock is up 7 percent... Was that an Arrested development joke about the CEO retiring and the stock goes up or am I thinking of something else
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asuka007
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Post by asuka007 on Jul 25, 2022 9:22:10 GMT -5
If this is true, Vince was basically defrauding investors. That’s a BIG escalation in all of this.
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Post by "American Nightmare" B.B. Bart on Jul 25, 2022 9:22:41 GMT -5
The Shareholders got their final revenge.
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spagett
Hank Scorpio
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Post by spagett on Jul 25, 2022 9:22:59 GMT -5
There are still rumours there's more news to come that is truly horrible and nasty but yeah this is also probably a major reason why he's gone.
Basically stealing money from the company to cover up for his affairs and rotten behaviour, shareholders don't tend to like that.
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Post by Feargus McReddit on Jul 25, 2022 9:23:03 GMT -5
Like, it wasn’t just that, they put it in the same press release as HHH becoming head of creative knowing full well that was what the wrestling media was going to talk about and just slipping at the bottom that he resigned and the last four years of financials have to be reassessed. They didn’t even put this stuff on a Friday where most companies put bad news so nobody sees it. I think that was strategic to the business. You throw that out on Friday, investors have a full weekend to get spooked. For what it's worth, the stock is up right now. It does help that it just came out and the way it did, they’re hoping nobody notices. Considering that it looks like the extra $2m means that another NDA was found by the board, it probably won’t be long before the WSJ publishes the story, though. This whole thing is very much pro wrestling’s “Al Capone on Tax Evasion”, though.
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Post by Alyce: Old Media Enthusiast on Jul 25, 2022 9:30:05 GMT -5
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Post by Feargus McReddit on Jul 25, 2022 9:31:52 GMT -5
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Post by polarbearpete on Jul 25, 2022 9:35:22 GMT -5
The last WSJ article said that the $12 million in payments were to four individuals over the last 16 years.
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