CLCT going private

[Aquarian Sports Cards]

Originally Posted by BRoberts

Lol. Many, many private companies have boards of directors. Especially ones with the value of a PSA.

Originally Posted by Rich Klein

Sometimes private companies do have advisory boards, so I bet there will be more help on this.

Not seeing how any of this contradicts what I said. A private company is not required to have a board. Yes many do have one, but it is not a legal requirement.

[BRoberts]

Originally Posted by Aquarian Sports Cards

If the company is going private there need be no board is required.

Originally Posted by Aquarian Sports Cards

Not seeing how any of this contradicts what I said. A private company is not required to have a board. Yes many do have one, but it is not a legal requirement.

Fixed your post.

[swarmee]

Thinking about the vote of confidence in Joe Orlando... what were they going to say? We're buying the company and firing the top brass? Not bloody likely. Would make a whole lot of negative news for no reason.

Doesn't mean they think he's a long term fix. But he's a necessary evil during the transition time. Think of the new ownership group as the GM of a football team who keeps getting asked when the head coach is getting fired; it will happen in due time.

[Peter_Spaeth]

Originally Posted by swarmee

Thinking about the vote of confidence in Joe Orlando... what were they going to say? We're buying the company and firing the top brass? Not bloody likely. Would make a whole lot of negative news for no reason.

Doesn't mean they think he's a long term fix. But he's a necessary evil during the transition time. Think of the new ownership group as the GM of a football team who keeps getting asked when the head coach is getting fired; it will happen in due time.

Some of us dislike him because we think he favors certain submitters, doesn't do enough to stop doctored cards from getting through, and presides over a culture where dissent and questions are not tolerated. But if you're looking at this purely as a matter of dollars and cents, it's hard to deny that Joe has done a great job growing the PSA brand. The record revenues and backlogs attest to that, as does the fact that the scandal hasn't touched PSA. I'm not sure I would be thinking about replacing him.

[Oscar_Stanage]

Given Nat's background in technology integration, I expect his vision includes greatly reducing the human discretion element in card grading.

Steve Cohen's involvement tells me that he possibly sees an angle for collectibles as an asset class...

Investment/Change in this business is necessary and welcome.

and, nice to know some heavy hitters do not believe we are in a bubble.

[Peter_Spaeth]

In a stunning development, the merger agreement has been amended to increase the price from $75 per share to $92. Keep in mind CLCT traded as low as $15 or so earlier this year. What scandal?

[sportscardpete]

Originally Posted by Peter_Spaeth

In a stunning development, the merger agreement has been amended to increase the price from $75 per share to $92. Keep in mind CLCT traded as low as $15 or so earlier this year. What scandal?

They got a lot of push back on the $75 price. People were not happy.

[Vintageismygame]

Originally Posted by Peter_Spaeth

In a stunning development, the merger agreement has been amended to increase the price from $75 per share to $92. Keep in mind CLCT traded as low as $15 or so earlier this year. What scandal?

That price jump from $75 to $92 just netted me another $46,000.00. Thanks Nat!