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

From another poster:

“What they said is there is no parent company to both the plant and VMP, so the plant is not wholly owned by VMP. It is still not clear whether VMP and the Plant have common investors or if VMP itself has an ownership interest in the plant.”

It’ll be interesting to see more as it comes out. Seems like the board vote could have been to invest in the plant and let Cam and co run it while remaining as csuite at VMP…
 
That figure seems high given multi-month subscriptions, not to mention all of the promotions they ran for most of last year.
Yea it’s definitely high. But also doesn’t include store purchases, add-ons, anthologies, etc. it wouldn’t shock me if they clear that in gross sales.

The weird thing to me is how they can manage their cash flow. Especially with all the sales that probably caused a big increase in year long subs for people who are probably unlikely to resubscribe at the full price.
 
to be fair i dont think storf will be involved in the court case.... he is just the music curator for them.. not any executive or Csuite.... he is just a higher employee of offbeat ventures
 
i wonder what severan thinks about all this
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So nothing else of note from the discord I assume?
A couple of lawyers are weighing in on what is and isn't revealed in the initial filing and a couple of people are inexplicably saying they have more confidence in VMP today than they did yesterday (????) and anyone complaining needs to get over it. But otherwise nah, nothing really more of note.
 
It's been publicized that it was going to be a VMP pressing plant for literally years. The board only just noticed it a few months ago?!

Like you say, the lawsuit on its own is nonsensical and full of contradictions that make the VMP board look like idiots. Assuming Cam has good legal representation, I am very curious to see his response to this lawsuit.

In my experience dealing with a few different boards, the assumption one should always make is that the board only knows what it's been told.

They are on the board cause they have money. And they meet quarterly or so, and the people they fired would be the ones presenting quarterly numbers to them.

This isn't a VMP sure is dumb situation. This is a, capitalism sure is dumb situation.
 
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