Cosmic Kid
Posts:4209
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| 10/19/2013 08:55 AM |
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....not that this should surprise anyone following the Divine Cycling Group debacle.
http://redkiteprayer.com/tag/mad-fiber/
How many more companies can these guys screw up? |
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| Just say "NO!" to WCP!!!!
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bobswire
Posts:304
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| 10/19/2013 10:18 AM |
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I think those companies were on their way to failing that bought them to DGC to begin with. I'm trying figure out how DGC makes anything out of it? I do hope Mad Fiber finds a way out and Saratoga survives this difficult market.
How does it work? The Devil comes and offers you anything you wish but please sign this contract for your soul? How is Case/DGC the bad guy. The devil is in the details which few us are in the know beyond innuendo. It's confusing at best and legal at worst. |
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Cosmic Kid
Posts:4209
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| 10/19/2013 04:23 PM |
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Based on what I have seen, read and heard, DCG are complete buffoons. See Case's backtracking re: back payment to employees as a perfect example. He tried to blame Ben serotta until confronted with evidence that contradicted his statement and then back pedaled furiously.
I have no idea as to the financial stability of the 3 companies DCG was interested in / bought. But the near-simultaneous demise of all 3 (even though they never bought Blue), combined with statements made by people involved makes me believe that DCG is incompetent at best, and potentially something worse. |
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| Just say "NO!" to WCP!!!!
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jrt1045
Posts:363
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| 10/23/2013 09:20 AM |
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Had an interview with an iteration of Serotta way back when. As Bob said, I would call DCG acquiring them a buffoon meets buffoon type situation. So glad I never took the job, heard all kinds of crazy stories about creative financing and payment of employees since then. Ben was able to channel some inner John Spano and took lots of folks for a ride for a long time
big time dreamer without the wallet
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Cosmic Kid
Posts:4209
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| 10/23/2013 10:05 AM |
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I think over the years it has been apparent that Ben is not a great business man. I can't speak to any of the details, but his continual path of selling to investors, taking the business back and re-selling again, to me, indicates a lack of business acumen.
However, his longevity in the industry indicates that he hardly rises to a Spano level of behavior. My guess is that he was like any other entrpreneur in a business that he loves....juggling balls as fast as he can and hoping none of them hit the floor.
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| Just say "NO!" to WCP!!!!
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Dale
Posts:1767
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| 10/23/2013 11:58 AM |
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Read the book "The E-Myth Revisited"
It's about tradesmen that because they can do something...bake a cake, build a frame, fix a car... they think they can run a business. Two entirely different skill sets.
No big dope slap for a tradesman to fail at running a business, but DCG does deserve a dope slap for going 0-and-3 in business when they portend to be a business. |
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