Vinyl Me Please (store, exclusives, swaps, etc)

bdm105 said:
Anything interesting being said on the discord?

Private equity! Profits over art (even though if you do it right you can have both)

I assumed those sales was for a warehouse move to the new factory but maybe it was for cash
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nothing interesting really. mostly non-lawyers speculating on stuff. although somebody did say the only record that might come out of the VMP pressing plant is the court record lol

also, a buddy who is a lawyer said: "Everything Cam said about the plant and making it seem like it was VMP was pretty out in the open. Is the board claiming they didn’t know about it? That they weren’t tracking VMP’s finances over the past several years?"

I'm not a lawyer, but to me, this seems like a case where VMP is underperforming and the board wants someone to blame. Cam starting the plant and sinking a ton of money into it while outside investing fell through probably made it easy. We'll see once some more formal documents come out.
 
MikeH said:
nothing interesting really. mostly non-lawyers speculating on stuff. although somebody did say the only record that might come out of the VMP pressing plant is the court record lol

also, a buddy who is a lawyer said: "Everything Cam said about the plant and making it seem like it was VMP was pretty out in the open. Is the board claiming they didn’t know about it? That they weren’t tracking VMP’s finances over the past several years?"

I'm not a lawyer, but to me, this seems like a case where VMP is underperforming and the board wants someone to blame. Cam starting the plant and sinking a ton of money into it while outside investing fell through probably made it easy. We'll see once some more formal documents come out.
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Lol that's a great line. I'm with you for the most part. Time will tell
 
Melt Face Molly Drop said:
How does anyone follow the discord general chat, it’s 75% reaction gifs. We used to be a proper society.
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No need to. The essential info eventually filters through to other places (much to the chagrin of the discord loyalists).

EDIT: though to your point, it does mean that *someone* needs to follow the general chat and provide this service for the rest of us.
 
MikeH said:
also, a buddy who is a lawyer said: "Everything Cam said about the plant and making it seem like it was VMP was pretty out in the open. Is the board claiming they didn’t know about it? That they weren’t tracking VMP’s finances over the past several years?"
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Im a lawyer and this is partially what I was getting at in my post above. There are ways this is possible with the most egregious fraud, where even reasonable investigation by the board doesn’t reveal what’s going on.

But there’s a part of this suggesting the board was sleeping at the wheel, and they’re now themselves facing legal threats from shareholders for not doing correct oversight required by a fiduciary (board has fiduciary obligation to shareholders), and this is their attempt to save face and shift blame.
 
Melt Face Molly Drop said:
How does anyone follow the discord general chat, it’s 75% reaction gifs. We used to be a proper society.
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kabangu-upset.gif
 
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