"Magic" Mark Hurr
Bill S. Preston, Esq.
Here, have some chili dogs
Now featuring half the brain that you do.
Posts: 16,612
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Post by "Magic" Mark Hurr on Jul 25, 2022 12:25:51 GMT -5
Meltzer deleted a tweet that said Vince was using company funds and Thurston is now saying that the NDA money should have been reported as it's a personal expense that ultimately benefits the company. So, it seems that while he may not have used company money to be a scumbag, he was a scumbag that paid out money because he didn't want it to damage his company. Not surprised he deleted that. That isn't established fully yet. Vince could have sued him. When did Linda step down as Chief Financial Officer? Wonder if she gets dragged in to this. I would not be surprised. At least questioned. In situations like these, anyone connected the money on her level has to be considered for questioning.
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Legion
Fry's dog Seymour
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Post by Legion on Jul 25, 2022 12:28:47 GMT -5
Not surprised he deleted that. That isn't established fully yet. Vince could have sued him. When did Linda step down as Chief Financial Officer? Wonder if she gets dragged in to this. I would not be surprised. At least questioned. In situations like these, anyone connected the money on her level has to be considered for questioning. That then adds a political spin to it. Vince vs the US Government round 2. This time it's Financial!
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Post by wildojinx on Jul 25, 2022 12:43:09 GMT -5
The Shareholders got their final revenge. Someone needs to repost that "The Shareholders: Dont get too comfortable" sig that some FAN member had around 2013.
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asuka007
Fry's dog Seymour
Posts: 23,711
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Post by asuka007 on Jul 25, 2022 13:11:14 GMT -5
Now Meltzer is saying they Vince has completely stepped down/Been removed from the Board of Directors as well.
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Post by PTBartman on Jul 25, 2022 13:41:20 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. I'm 58 yrs old and Ive come to the conclusion life is carney AF, and anybody who claims differently is obviously selling something.
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Post by PTBartman on Jul 25, 2022 14:09:22 GMT -5
I'm British but I'm assuming accounting qualifications and regulations are at least similar in America to the ones I signed. Did you also have to pledge to never participate in or look the other way on sketchy bullshit like this? I do nonprofit accounting now, so we get audited every year and have to attest that we haven't seen or participated in any fraud, and if we did, we would have to report it immediately. So, could this also become a case of "What did Nick Kahn (among others going all the way back to Linda, and maybe beyond?) know, and when did they know it?"
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bob
Backup Wench
The "other" Bob. FOC COURSE!
started the Madness Wars, Proudly the #1 Nana Hater on FAN
Posts: 80,620
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Post by bob on Jul 25, 2022 14:28:54 GMT -5
Now Meltzer is saying they Vince has completely stepped down/Been removed from the Board of Directors as well. WOW
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Lardlad
El Dandy
Live reaction to @WWE #WWENetwork
Posts: 8,272
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Post by Lardlad on Jul 25, 2022 14:29:09 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. A quick google search shows that Vince is worth 2.4 billion USD Why was he defrauding the company 14.6 million if he's worth over $2 BILLION DOLLARS?!
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Legion
Fry's dog Seymour
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Post by Legion on Jul 25, 2022 14:29:25 GMT -5
I do nonprofit accounting now, so we get audited every year and have to attest that we haven't seen or participated in any fraud, and if we did, we would have to report it immediately. So, could this also become a case of "What did Nick Kahn (among others going all the way back to Linda, and maybe beyond?) know, and when did they know it?" Yes. They'll need to find a scapegoat or an excuse very quickly as this doesnt appear to be a one off. So, someone must have noticed. Nick has the bonus that he can claim to be the one that did, even if he wasnt.
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bob
Backup Wench
The "other" Bob. FOC COURSE!
started the Madness Wars, Proudly the #1 Nana Hater on FAN
Posts: 80,620
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Post by bob on Jul 25, 2022 14:30:04 GMT -5
I would not be surprised. At least questioned. In situations like these, anyone connected the money on her level has to be considered for questioning. That then adds a political spin to it. Vince vs the US Government round 2. This time it's Financial! s
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Post by mistery on Jul 25, 2022 14:30:39 GMT -5
For those curious about Vince trying to force people around because he owns the majority of the voting shares:
If the board finds that Vince violated the company bylaws (spoiler: he did), one of the penalties can be forcing him to divest (sell) most or all of his stocks.
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Post by Captain Stud Muffin (BLM) on Jul 25, 2022 14:30:51 GMT -5
If you was going cook the books could hired me for that Vince. Give me $2M of that $14M
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Legion
Fry's dog Seymour
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Post by Legion on Jul 25, 2022 14:33:35 GMT -5
For those curious about Vince trying to force people around because he owns the majority of the voting shares: If the board finds that Vince violated the company bylaws (spoiler: he did), one of the penalties can be forcing him to divest (sell) most or all of his stocks. And that could actually be a problem for anyone not wanting to see the company strip mined. If a random asset company buys enough stock to take control, the cuts Nick Khan made would seem miniscule.
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Post by Feargus McReddit on Jul 25, 2022 14:33:52 GMT -5
For those curious about Vince trying to force people around because he owns the majority of the voting shares: If the board finds that Vince violated the company bylaws (spoiler: he did), one of the penalties can be forcing him to divest (sell) most or all of his stocks. I mean, that’s what I figured was going to happen. And really, it’s better to have this happen after you’ve distanced yourself from the company than the humiliation of having it come when you’re still Chairman and CEO.
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Post by mistery on Jul 25, 2022 14:34:38 GMT -5
For those curious about Vince trying to force people around because he owns the majority of the voting shares: If the board finds that Vince violated the company bylaws (spoiler: he did), one of the penalties can be forcing him to divest (sell) most or all of his stocks. And that could actually be a problem for anyone not wanting to see the company strip mined. If a random asset company buys enough stock to take control, the cuts Nick Khan made would seem miniscule. Nah. If I recall, the stocks either go to the other stockholders or back to the company. Also they would likely be reclassified as Class-B stocks, which are the non-voting stocks for WWE.
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Legion
Fry's dog Seymour
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Post by Legion on Jul 25, 2022 14:38:12 GMT -5
And that could actually be a problem for anyone not wanting to see the company strip mined. If a random asset company buys enough stock to take control, the cuts Nick Khan made would seem miniscule. Nah. If I recall, the stocks either go to the other stockholders or back to the company. Also they would likely be reclassified as Class-B stocks, which are the non-voting stocks for WWE. If that is the case, could he just 'gift' them to Steph/Shane/Hunter, early inheritance style? Could Linda now divorce him and take 50%?
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Post by Lizuka #BLM on Jul 25, 2022 14:43:02 GMT -5
It does kind of sound like at some point it's inevitable that WWE's probably going to have some insane power battle over who's actually in charge of it. They should get ahead of the curve and just do what they've done before, ladder match for control of the company.
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Post by xCompackx on Jul 25, 2022 14:43:37 GMT -5
It does kind of sound like at some point it's inevitable that WWE's probably going to have some insane power battle over who's actually in charge of it. They should get ahead of the curve and just do what they've done before, ladder match for control of the company. Works for custody issues, why the f*** not?
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Post by Feargus McReddit on Jul 25, 2022 14:43:44 GMT -5
It does kind of sound like at some point it's inevitable that WWE's probably going to have some insane power battle over who's actually in charge of it. They should get ahead of the curve and just do what they've done before, ladder match for control of the company. THAT’S JOHNNY GARGANO RAISING THE BRIEFCASE!
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lionheart21
Patti Mayonnaise
Once did a thing...
Posts: 31,615
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Post by lionheart21 on Jul 25, 2022 14:46:43 GMT -5
It does kind of sound like at some point it's inevitable that WWE's probably going to have some insane power battle over who's actually in charge of it. They should get ahead of the curve and just do what they've done before, ladder match for control of the company. THAT’S JOHNNY GARGANO RAISING THE BRIEFCASE! That would be something, Johnny and Candice running the company alongside their kids Indi and Austin.
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