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  • EuclidAve EuclidAve • Apr 18, 1998 7:34 AM Flag

    NM Registration Statement

    National Media has filed a registration statement with the SEC for the stock that VVTV will (may) receive in exchange for the $10 million working capital loan we provided to them in January. Does anyone have an opinion on what this means (if anything) for the status of the merger?

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    • lchrobot lchrobot • Apr 18, 1998 7:05 PM Flag

      VVTV has cash, but that doesn't mean much if upper management is poor.

      10% of the people were let go 2 months ago. More layoffs will occur soon. For sure, the trimming will happen in the call center and customer service, possibly other areas also.

      Even if one company has money, it's hard to understand how two companies that don't make money will do any better when they merge.

      • 2 Replies to lchrobot
      • Bystander_98 Bystander_98 • Apr 28, 1998 10:47 AM Flag

        More layoffs will occur soon. Mostly in the Broadcast end.
        They plan on being fully robotic (robotic cameras, that is) by June 1. Thusly, there will be quite a bit of people who used to run cameras and such out of work by then.
        It seems that they are even beginning to consolidate telemarketing work in Boston and slowly start whittleing away
        the telemarketing group in Eden Prairie

      • cws750_98 cws750_98 • Apr 18, 1998 11:07 PM Flag

        10% of what were laid off two months ago? The MWD catalog lost it's name and it is basically starting over. The staffing was reduced - 10 people were escorted out. big Deal!! There is a severe shortage of staffing in the call center and customer service departments (this is Minneapolis-2% unemployment) so don't look for reductions there......most of the recent turnover has been the natural flight of people nervous about the merger.

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