shaxper
CCF Site Custodian
Posts: 22,871
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Post by shaxper on Nov 6, 2016 16:37:13 GMT -5
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shaxper
CCF Site Custodian
Posts: 22,871
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Post by shaxper on Nov 6, 2016 17:58:13 GMT -5
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Post by Deleted on Nov 6, 2016 18:10:16 GMT -5
Wow, what's the short version to this article?
I've got some Wizard signed books.
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shaxper
CCF Site Custodian
Posts: 22,871
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Post by shaxper on Nov 6, 2016 18:12:14 GMT -5
Wow, what's the short version to this article? I've got some Wizard signed books. Wizard fired Stephen and, at the same time, dropped a hefty lawsuit on him for allegedly getting free stuff from guests he signed for the conventions which he then sold for profit. |
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Post by Deleted on Nov 16, 2016 19:44:24 GMT -5
And now Shamus has filed a counter-suit against Wizard and denied all charges made against him... Bleeding Cool article-M |
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Post by Deleted on Nov 23, 2016 3:58:38 GMT -5
And if Bleeding Cool's reporting is accurate (a big if) based on their recent filings with the SEC, Wizard World lacks the available operating capital to continue operations beyond 2016 unless they secure some kind of additional funding... Bleeding Cool articlethey did better this year than last year (actually making money after losing money in 2015), but not enough of their revenue is available as liquid cash reserve, it's seems to be tied up paying future commitments leaving little to no money to keep operations flowing. My guess is they will find a way to restructure some of the debt and secure additional funding to do their slate of shows in 2017 (perhaps dropping some of those that lose money instead of turning a profit), and won't go under, but they won't be able to walk that tightrope forever, so they may need to rethink what they do and how they do it moving forward. -M |
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shaxper
CCF Site Custodian
Posts: 22,871
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Post by shaxper on Nov 23, 2016 8:51:50 GMT -5
And if Bleeding Cool's reporting is accurate (a big if) based on their recent filings with the SEC, Wizard World lacks the available operating capital to continue operations beyond 2016 unless they secure some kind of additional funding... Bleeding Cool articlethey did better this year than last year (actually making money after losing money in 2015), but not enough of their revenue is available as liquid cash reserve, it's seems to be tied up paying future commitments leaving little to no money to keep operations flowing. My guess is they will find a way to restructure some of the debt and secure additional funding to do their slate of shows in 2017 (perhaps dropping some of those that lose money instead of turning a profit), and won't go under, but they won't be able to walk that tightrope forever, so they may need to rethink what they do and how they do it moving forward. -M To be fair, 2015 and 2016 were massive expansion years for them, buying up conventions in several major cities (including here in Cleveland and next door in neighboring Pittsburgh). Much as I'd love to see them go bust, I suspect their business model depends upon the new expenses of 2015-2016 to become new sources of revenue in 2017. |
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Post by codystarbuck on Nov 30, 2016 20:16:35 GMT -5
Notice they are filing in civil court, via a lawsuit. Why? Burden of proof. Most likely, they don't have evidence of outright theft of company property or actual fraud. At best, you have misconduct, depending on either the terms of his contract or company published rules and guidelines. Most of the accusations seeme to center around using his position for commercial gain, without paying fees to the company that fans would. Pretty murky legal ground. Sounds like an attempt to muscle a financial settlement to get some of the cash.
I got no sympathy for either side in this.
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Post by Deleted on Dec 2, 2016 3:46:16 GMT -5
In a discussion on the changing landscape of comic conventions in the wake of a cancellation of a semi-major Arizona show for early next year, Rob Liefeld had this to say, referencing Wizard World's current situation in his response...
Rob's stuff is not my favorite, but he is pretty active on the con circuit and has a decent sense of what is happening there...I wonder how much longer WW will be a major player in the con circuit. There's lots of indicators they might be reaching the end of the road as currently constituted.
-M
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Post by The Captain on Dec 2, 2016 20:07:48 GMT -5
WW can collapse into a fiery pit for all I care. I used to be able to go to the Pittsburgh Comicon for $20 a day, $50 for the whole weekend, and get free autographs from all types of awesome guests. $20 won't get me through the front door ar WW, let alone allow me to get a single book signed, if they even have any comics creators there, which seemed to be mostly the case at the Pittsburgh show last month.
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Post by Deleted on Dec 3, 2016 16:39:24 GMT -5
Looks like Wizard World is poised to announce next week that it has secured $2.5 million is funding from an investment company... BC article-M |
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Post by Randle-El on Dec 5, 2016 23:26:09 GMT -5
Stephen Shamus sounds like the worst example of those eBay flippers. I'm really annoyed by the fact that many creators who used to sketch or sign for free now charge because of them. At Baltimore Comic Con this year, I was in line getting a sketch in Barry Kitson's line, and someone told me that he used to sketch for free -- and not just quick, five minute marker sketches, but pretty elaborate ones with inks and colors. But he started charging recently because he found out that people were flipping the free ones on eBay. I don't blame him for it at all, but do resent the flippers for making things more expensive for the rest of us.
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