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Post by EoE: Well There's Your Problem on Aug 12, 2022 1:16:05 GMT -5
Did anybody calculate how many 2001 WCWs this, shall we say, $5 million haircut is worth yet?
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Post by The Thread Barbi on Aug 12, 2022 1:57:42 GMT -5
Even without getting into the unsavory bits that'd run afoul of the no politics rule, this later discovery related to those unearthed payments might actually be uh. More insane and more bad, but a new kind of insane and bad. Still kayfabing it in official statements WWE? The unrecorded expenses WWE states it needs to catch up on have grown to $19.6 million. “[T]he Company has determined that two additional payments totaling $5.0 million, unrelated to the allegations that led to the Special Committee investigation, that Mr. McMahon made in 2007 and 2009 should have been recorded in the Company’s consolidated financial statements,” the company wrote in the Tuesday filing.
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Gecko
Grimlock
FAN Pyrite Member. Muahahaha
Posts: 13,638
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Post by Gecko on Aug 12, 2022 2:23:23 GMT -5
You know those years where we get halfway through and have a crazy story that makes us forget about all the other stuff that happened earlier in the year and also think that nothing will be able to top what's happened so far? I think it's safe to add this year to that list.
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Post by EoE: Well There's Your Problem on Aug 12, 2022 2:36:13 GMT -5
You know those years where we get halfway through and have a crazy story that makes us forget about all the other stuff that happened earlier in the year and also think that nothing will be able to top what's happened so far? I think it's safe to add this year to that list. It’s like Shane being a weirdo at the Royal Rumble and the whole MJF situation feels like 10 years ago now.
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Post by Jedi-El of Tomorrow on Aug 12, 2022 2:46:42 GMT -5
If Vince was just getting into trouble with his penis, that's one thing. Ugly, obviously. Not defensible or good. But like kinda what you'd expect. His money for his problems, covering them up to avoid scarring his company's image, and his secrecy got away from him. But if he was doing dirty money shit with his buddies and feeding Trump launderable money in the late '00s when Trump was around his company a lot, that's a very, very different story. A super ugly one. And if it opens up Vince to further scrutiny and reveals some skeletons in his closet that people haven't even been aware of until now, that's going to turn really bad for him really fast. The one thing he's always leaned on is how much he lives and breathes his job, but screwing with his company like that? No, that's a bad time. THat's going in bad places. And what's going on right now with Vince's good friend, if these weren't the only payments, it could get really bad for Vince and Linda. And a certain deal could get shoved back into the spotlight. But, like has been said, Vince broke the big rule, he f***ed with rich people's money. You don't do that in this country, and expect to get away with it.
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Post by polarbearpete on Aug 12, 2022 8:37:03 GMT -5
Even without getting into the unsavory bits that'd run afoul of the no politics rule, this later discovery related to those unearthed payments might actually be uh. More insane and more bad, but a new kind of insane and bad. Interesting, so I guess if I’m following this right, instead of paying Trump from the company’s money for his 2007 and 2009 TV appearances, he was paying from his own personal money as donations to the Trump Foundation?
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Post by Feyrhausen on Aug 12, 2022 8:44:31 GMT -5
Even without getting into the unsavory bits that'd run afoul of the no politics rule, this later discovery related to those unearthed payments might actually be uh. More insane and more bad, but a new kind of insane and bad. Interesting, so I guess if I’m following this right, instead of paying Trump from the company’s money for his 2007 and 2009 TV appearances, he was paying from his own personal money as donations to the Trump Foundation? From what the article says Trump was paid by WWE for his appearances. But that was most likely a minimal amount to appear legal. Then Vince paid him these larger amounts through the charity for everyone to avoid taxes.
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Post by Baldobomb-22-OH-MAN!!! on Aug 12, 2022 11:31:16 GMT -5
I don't suppose it ever crossed his mind to just use his own money instead of using the company like a personal piggybank. unless his personal net worth is substantially exaggerated at any rate.
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Post by darbus alan on Aug 12, 2022 11:36:56 GMT -5
I don't suppose it ever crossed his mind to just use his own money instead of using the company like a personal piggybank. unless his personal net worth is substantially exaggerated at any rate. When you run a public company, you can't do that when it comes to company matters.
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Post by Feyrhausen on Aug 12, 2022 11:37:05 GMT -5
I don't suppose it ever crossed his mind to just use his own money instead of using the company like a personal piggybank. unless his personal net worth is substantially exaggerated at any rate. As I understand it it is his money. But he is using it for company purposes which means they have to account for it. For instance if the 5 million payments to Trump were for his WWE appearances then that means WWEs numbers are way off. That can affect their stock prices, their taxes, all kinds of stuff. When a company is that big and involved there are all sorts of rules on the money. Edit. Its like this. Say Trump got paid 100,000 by WWE for Mania 23. Then Vince paid him 4 million personally as a donation to the foundation. So that means WWEs profits should have shown as 4 million less. Not to mention the whole avoiding taxes part.
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Allie Kitsune
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Always Feelin' Foxy.
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Posts: 46,872
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Post by Allie Kitsune on Aug 12, 2022 11:44:05 GMT -5
I don't suppose it ever crossed his mind to just use his own money instead of using the company like a personal piggybank. unless his personal net worth is substantially exaggerated at any rate. He did. But that doesn't matter. It still has to be accounted for within the company, because ostensibly, he used it "for the benefit of" the company.
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Post by Confused Mark Wahlberg on Aug 12, 2022 11:50:39 GMT -5
I honestly thought Vince's downfall would be because he saw someone cough or sneeze and he just couldn't take it anymore and attacked them.
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Post by polarbearpete on Aug 12, 2022 12:31:42 GMT -5
I don't suppose it ever crossed his mind to just use his own money instead of using the company like a personal piggybank. unless his personal net worth is substantially exaggerated at any rate. As I understand it it is his money. But he is using it for company purposes which means they have to account for it. For instance if the 5 million payments to Trump were for his WWE appearances then that means WWEs numbers are way off. That can affect their stock prices, their taxes, all kinds of stuff. When a company is that big and involved there are all sorts of rules on the money. Edit. Its like this. Say Trump got paid 100,000 by WWE for Mania 23. Then Vince paid him 4 million personally as a donation to the foundation. So that means WWEs profits should have shown as 4 million less. Not to mention the whole avoiding taxes part. It wouldn’t affect the profits because it was his money, not the company’s. But it still would need to be accounted for in some respect.
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Post by Feyrhausen on Aug 12, 2022 12:53:25 GMT -5
As I understand it it is his money. But he is using it for company purposes which means they have to account for it. For instance if the 5 million payments to Trump were for his WWE appearances then that means WWEs numbers are way off. That can affect their stock prices, their taxes, all kinds of stuff. When a company is that big and involved there are all sorts of rules on the money. Edit. Its like this. Say Trump got paid 100,000 by WWE for Mania 23. Then Vince paid him 4 million personally as a donation to the foundation. So that means WWEs profits should have shown as 4 million less. Not to mention the whole avoiding taxes part. It wouldn’t affect the profits because it was his money, not the company’s. But it still would need to be accounted for in some respect. If Trump negotiated 4 million for his Mania appearances it should have been paid for by WWE which does affect the profit from that event. They should have made 4 million less on that event. Vince may own most of the stock and act like its his company but it is not and he cannot pay for its expenses or payroll out of his own pocket. It boils down to stock manipulation. Pay a major expense out of his pocket, make the event look more successful and profitable for the company, stock goes up based on a lie.
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Post by polarbearpete on Aug 12, 2022 13:36:10 GMT -5
It wouldn’t affect the profits because it was his money, not the company’s. But it still would need to be accounted for in some respect. If Trump negotiated 4 million for his Mania appearances it should have been paid for by WWE which does affect the profit from that event. They should have made 4 million less on that event. Vince may own most of the stock and act like its his company but it is not and he cannot pay for its expenses or payroll out of his own pocket. It boils down to stock manipulation. Pay a major expense out of his pocket, make the event look more successful and profitable for the company, stock goes up based on a lie. Right the actual profits would have been lower if the company paid it, but the profits won’t actually need to be updated to reflect different profits since ultimately it didn’t come out of the company’s money.
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Post by Feyrhausen on Aug 12, 2022 15:22:51 GMT -5
If Trump negotiated 4 million for his Mania appearances it should have been paid for by WWE which does affect the profit from that event. They should have made 4 million less on that event. Vince may own most of the stock and act like its his company but it is not and he cannot pay for its expenses or payroll out of his own pocket. It boils down to stock manipulation. Pay a major expense out of his pocket, make the event look more successful and profitable for the company, stock goes up based on a lie. Right the actual profits would have been lower if the company paid it, but the profits won’t actually need to be updated to reflect different profits since ultimately it didn’t come out of the company’s money. Unless what he did means that money has to be squared away and paid back to them. Then that will upset a bunch of apple carts.
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Cranjis McBasketball
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Knew what the hell that thing was supposed to be
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Posts: 42,421
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Post by Cranjis McBasketball on Aug 13, 2022 17:53:21 GMT -5
Of course this guy has finally come up.
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Post by The Rick Jericho on Aug 13, 2022 17:57:42 GMT -5
If the WWF/E never went public in 2000, does McMahon survive all this?
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Cranjis McBasketball
Crow T. Robot
Knew what the hell that thing was supposed to be
Peace Love and Nothing But
Posts: 42,421
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Post by Cranjis McBasketball on Aug 13, 2022 17:58:45 GMT -5
If the WWF/E never went public in 2000, does McMahon survive all this? Yes.
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Xxcjb01xX [PIECE OF: SH-]
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Posts: 245,906
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Post by Xxcjb01xX [PIECE OF: SH-] on Aug 13, 2022 22:04:13 GMT -5
Hey guys so how have things developed since the last time I came in the th-
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