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Sports Illustrated layoffs

Discussion in 'Journalism topics only' started by silvercharm, Oct 3, 2019.

Page 41 of 62
  1. wicked

    wicked Well-Known Member

    "Top 10 moments during Zac Taylor's tenure as coach of the Bengals"

    The money they were offering for those positions was insulting... $1,500 to $2,000 a month. No newcomer working a beat for 20 hours a week is going to break through the noise, especially writing from the couch.
     
    wicked, Apr 21, 2020
    #481
  2. BYH 2: Electric Boogaloo

    BYH 2: Electric Boogaloo Well-Known Member

    If no. 1 isn't the one win I will pillage your hometown.
     
    BYH 2: Electric Boogaloo, Apr 21, 2020
    #482
  3. Severian

    Severian Well-Known Member

    Never work for a place that enforces quotas.
     
    Severian, Apr 22, 2020
    #483
  4. lantaur

    lantaur Well-Known Member

    Let's put it this way: This person is putting out content every day.
     
    lantaur, Apr 22, 2020
    #484
  5. Songbird

    Songbird Well-Known Member

    Good cover.

    [​IMG]
     
    Songbird, Apr 25, 2020
    #485
  6. BYH 2: Electric Boogaloo

    BYH 2: Electric Boogaloo Well-Known Member

    Guys you're not gonna believe this, but a crew with a track record of crashing and burning is crashing and burning.



    There's no better summation of 2020 than these crooked swindlers getting the "small business loan" from a "government" "overseen" by the most crooked swindler of all.
     
    BYH 2: Electric Boogaloo, May 18, 2020
    #486
  7. wicked

    wicked Well-Known Member

    What a shame. I hope there is a day of reckoning for all of these crooks, but I'm not holding my breath.
     
    wicked, May 18, 2020
    #487
  8. The Big Ragu

    The Big Ragu Moderator Staff Member

    I believe it. That warning came from the 10-Q the company filed with the SEC today, and the reason it had to do that filing in the first place is that it issued a ton of convertible preferred stock -- tens of millions of dollars worth -- to have even licensed SI's name in the first place and prepay part of the royalty fee they agreed to. They found a lot of suckers in a private placement, sold them a fantasy of a huge return on their investment, and got them to put up money those investors will never see back.

    But if you look at their financials, these jokers never ran a viable company, with or without the pandemic shutting down all sports. They lost money in the firscal 2017 year. Lost way more money in their fiscal 2018 year. They had never demonstrated any ability to do anything except blow through other people's cash.

    So why would this be surprising?

    There were a lot of dogshit companies without viable businesses playing this way over the last 10 years, except the debt markets and private / public equity markets were there to bail them out continually and extend their ability to burn through cash that should never have been available to them. In this environment, though, borrowing has gotten much tougher and these guys are screwed.

    My question to you is what did you mean by this? "There's no better summation of 2020 than these crooked swindlers getting the "small business loan" from a "government" "overseen" by the most crooked swindler of all."

    Did these guys get one of the government Paycheck Protection Loans? If so, how much?
     
    The Big Ragu, May 18, 2020
    #488
    wicked and 2muchcoffeeman like this.
  9. BYH 2: Electric Boogaloo

    BYH 2: Electric Boogaloo Well-Known Member

    Ahh yes, sorry, that info was deeper in the thread. $5.7M. Crooks.

     
    BYH 2: Electric Boogaloo, May 18, 2020
    #489
  10. 2muchcoffeeman

    2muchcoffeeman Well-Known Member

    How much more trouble would Maven be in without that loan?
     
    2muchcoffeeman, May 18, 2020
    #490
  11. Double Down

    Double Down Well-Known Member

    Just to reiterate my point from page 33 of this thread, the point has ALWAYS been to burn Sports Illustrated to the ground faster than anyone can realize the arsonists are dumping gasoline on the fire while asking people for funding to "save" it.

    The only reason they are expressing worry in earnings calls is so they don't go to prison for fraud.

    But trust me, the plan is going swimmingly as far as Heckman is concerned.

    To paraphrase Marlo Standfield, SI is already dead. It was dead when Maven took over.

    The magazine is just walking around not knowing it yet.
     
    Double Down, May 18, 2020
    #491
  12. Equalizer

    Equalizer Member

    Exactly. Didn't they say the same thing last year in their filing?
     
    Equalizer, May 18, 2020
    #492
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