Join Date: Aug 2008
Thanked 192 Times in 184 Posts
Rep Power: 0
Re: Latts & Atts is GONE!
The thing is ... in addition to forcing half of the new ownership group out, Dolan didn't pay anybody anything. No mortgage payment. No payments at all.
BB never got paid for the sale and is looking at bankruptcy. Kim Paternoster (one of the two forced out after the purchase) lost all the money she invested. The printer didn't get paid. The company van's lease payments never got paid and it got repo'd. The Lost Soul's lease payments were never made and it got repo'd. The advertisers who actually bit on Doran's new requirement that they pay three months in advance (not an industry standard despite when he claimed, and I've made my career in publishing) are out three months' worth of cash. A lot of employees never got paid.
So, DJ, if you're reading this ... Where's the money? Where's the office equipment (and did you also take employees' personal items when you cleaned out the office equipment)? Where's the L&A intellectual property?
DJ - you might have missed one very important aspect of the whole M&A thing...