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#1
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Layoffs coupled with the news of them getting stuck with defaulted loans were the collateral is worth 1/10 to 1/2 of what it was when the loan was written. Does not seem like good news to me. I don’t get why some are always so quick to defend some of the people they do, it mystifies me. As for sports card radio please show me all these times they’ve been wrong about the hobby? I think they sometimes are jerks about how they say stuff and there politics are absurd but they tend to be on top of the hobby and what’s going on. I must admit I was shocked at how good KG was on the show last night.
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#2
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#3
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I am not sure if this is directed at my post, but if so, I am not defending PWCC. Rather, I am pointing out that layoffs don’t always mean the sky is falling. PWCC plays zero factor/role in my life/collection.
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#4
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Not defending PWCC here at all but I don't think there's been anything more than rumor on the significance of the defaults w/substandard collateral. I also agree w/Ryan's comments that layoffs don't exactly equal sky is falling sort of things. I'm sure there are instances where PWCC did lose money on the loans but I'd guess (and it's just that) there was something in the business model to accommodate for it. We'll see how it all shakes out. |
#5
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#6
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If by any chance there is a vault run, I hope all cards are present and accounted for, audited by an outside 3rd party. I only say this because of PWCC's less than stellar reputation. And if any cards that were used for loan collateral are missing.....Gulp!
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#7
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Certainly interesting. 100+ employees sure feels like a lot for the operation they're running. As a point of comparison, Rick Probstein says he has 35, and those are mostly minimum wage kids/young adults.
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#8
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Rick doesn't have the side businesses like a vault. He doesn't have to maintain his own platform. Etc.
__________________
Net 54-- the discussion board where people resent discussions. ![]() My avatar is a sketch by my son who is an art school graduate. Some of his sketches and paintings are at https://www.jamesspaethartwork.com/ Last edited by Peter_Spaeth; 04-28-2023 at 08:34 PM. |
#9
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Ya, PWCC has to maintain a website and a large database as well. And they have a finance department and sales people. I wonder how their gross revenues compare though?
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#11
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__________________
Net 54-- the discussion board where people resent discussions. ![]() My avatar is a sketch by my son who is an art school graduate. Some of his sketches and paintings are at https://www.jamesspaethartwork.com/ |
#12
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25 percent. Yikes! |
#13
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Should bode well for earnings. When is the conference call
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__________________
"Trolling Ebay right now" © Always looking for signed 1952 topps as well as variations and errors |
#14
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"One of the trading card market’s largest companies trimmed . . . " .
__________________
Collector of all things Ripken, Yankees, 1958. Successful transactions with: 300dw123, autograf, bn2cardz, buymycards, CobbvLajoie1910, Daves_resale_shop, frankbmd, GoCubsGo32, GoldenAge50s, GrayGhost, Head928, Jayworld, jdl860, jgmp123, kamikidEFFL, larrie804, Leerob538, lharri3600, Lordstan, megalimey, Orioles1954, quinnsryche, Redleg25, rjackson44, Rob D., SAllen2556, scmavl, slantycouch, slipk1068, Smanzari, TCMA, thetruthisouthere, Wolfgang427, yanks12025, ZackS |
#15
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Yeah that was rich lol.
__________________
Net 54-- the discussion board where people resent discussions. ![]() My avatar is a sketch by my son who is an art school graduate. Some of his sketches and paintings are at https://www.jamesspaethartwork.com/ |
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