Scott,
With this Lemelson group buying in heavily to WWE amid yesterday's chaos, I was wondering about their immediate aggressiveness (demanding a board and/or owner change). Given how swiftly it all happened, do you suppose someone in Lemelson has an ax to grind with Vince? I'm not necessarily talking Bischoff or some other wrestling foe, but maybe an executive he's spurned or crossed in years past? Maybe it's because I'm no financial whiz, but the straightforwardness on their part (especially in suggesting Vince's removal) just seems a little pointed.
It would be a pretty normal wrestling storyline if they turned out to be Steve Austin buying up stock to get his revenge or something, but I don't think you can do that in real life. Given I know nothing about financial stuff I have no real insight here, but I've read that their motivation seems to be deliberately devaluing the stock as much as possible so they can buy up all the available shares and then cash in when it inevitably creeps back up again. This sounds like a thing that would happen on Wall Street.
IT'S SHANE O MAC
ReplyDelete- a few delusional posters
Lol, I wrote the email, and I didn't mean for it to sound so storyline-ish, but I was just curious about their aggressive day one, ie the storming-and-demanding. Made me wonder if there was something that lay beneath
ReplyDeleteYea, I thought it was a valid talking point. There are like 3 posters here who love insinuating that Shane is always involved in stuff like this.
ReplyDeleteI think Scott nailed it. Aernt there specific firms that do just this...devalue stock and companies just to buy low then turn around and sell?
I suppose. In that case, this is a time where I'd pull for Hunter and Stephen.
ReplyDeleteThe only reason to still go to Lords of Pain - Mr.Tito, he provides a perfect breakdown of what went down with the stock - http://www.lordsofpain.net/columns/mrtito/MR_TITO_STRIKES_BACK_-_Financial_Analysis_of_the_WWE_Stock_s_Decline_and_NBC_Universal_Deal.html
ReplyDelete"Pump and Dump" is one term for those companies. They're not the worst type out there, but they would fit into the "scum of Wall Street" category.
ReplyDeleteWhether you like them or not, though, it doesn't change anything.
ReplyDeleteCurrently, WWE is 8 different kinds of f***ed
I'm not sure why everyone thinks Vince holding that much voting power absolutely means he can't be forced out. I mean, there's legal ideas like "oppression" and whatnot that could still screw with him. I'm not saying they apply here, but having a ton of voting power isn't a guarantee you're untouchable.
ReplyDeleteOkay, good. I was confused as fuck for a minute.
ReplyDeleteYour last paragraph was my thought too. It isn't like bringing in a person from Subway to run Jimmy John's or something. Just to really have fun with it, though: Imagine Eric Bischoff somehow smooth talking his way into the job. Would that be the most unexpected development in forever?
ReplyDeleteI don't know if it was a stupid move, though. He was the face of the WWF and WCW for well over a decade. Maybe he doesn't mean much in the context of today's product, but for the fringe fans that they need to make this work, Hulk Hogan is synonymous with professional wrestling.
ReplyDeleteBecause Vince is well known for being apologetic and humble.
ReplyDeleteI'm by no means an expert on this type of stuff, but holding that kind of power would certainly seem like a good way to not get voted out.
ReplyDeleteUh......think it does actually.
ReplyDeleteDo any of you think it was a mistake for WWE to even start the Network at this point?
ReplyDeleteI keep thinking back to MITB '11 when Punk won the belt and Vince was frantically yelling in the headset to get Del Rio out there. Except this time, it's real life, real money and he has nobody to call.
ReplyDeleteMaster P of GTFO
ReplyDeleteThought of that. Be funny if it was like JR or someone that Vince used to constantly shit on
ReplyDelete