I warned you about Langan! I told you to get rid of the CEO years ago!
I warned you about not getting ahead of the liabilities and the wasteful spending on jets and share buybacks. I believe Langan exposed RICK's jugular ON PURPOSE to aquire more (or all) of the company CHEAP.
All the K'mart.Kowboy.Kosher's pumping in the world won't help the stock, no matter how many of his aliases he uses to spew rubbish. An 18-wheeler load of stock at $10.10? LMAO! Looks like it's headed south, or has jack-knifed. What a dolt.
Sentiment: Strong Sell
While the CEO, BOD and other "masterminds" were setting up all these subsidiaries to "shelter" the mothership from lawsuits and other liabilities, maybe they should have spent more time studying labor laws and addressing them back in 2009 to limit damages. What is actually discussed in these boardrooms, how to name a club after a movie character? I'm having a hard time understanding how a company can keep hanging it's shareholders out to dry unless it's all by design.
Plus, it's the laywers JOB to tell clients what's right. Any damages after the case was handed to the lawyer SHOULD be the lawyers fault. This wasn't a muder case where a defense lawyer can't bring the vitim back to life. This is business law where the lawyer is SUPPOSED to steer it's client in the best possible direction. What would the judgement amount be if it was for just 2005-2009? There would be alot less strippers on the Plaintiff list.
Maybe your hero Eric will file it for them so he can pick up the jet and the clubs he wants during bankruptcy for pennies on the dollar. He won't leave as CEO quietly imo.
You're an idiot. You sold on Thursday's little run up to $10.30 then started to bash using old news on Bombshells that had already been posted here.
If you and Eric stood one behind the other, I could see right through both of you.
To bleed more money out of both the employer AND employee as opposed to just the independent contractor? Rob 2 pockets with 1 hand.
With the 1:2 Reverse-Split factored in.
Pumpers used to claim he was the authority when it come to the stripclub business, but he can't even figure out how to pay the strippers and keep the company out of court. Rather than set money aside for the pole tax, he spent it and borrowed even more to keep the company and it's shareholders under financial stress imo. "Mega" clubs in Vegas and Chicago failed or fell through. RickyBobby's copied Sony's movie. Bombshells looks like Hooters to me. There's no more Vivid's popping up. So much for an innovator.
Where have 16 years of profits gone? ZERO has been paid to shareholders. How much revenue was taken in over 16 years? The stock isn't even worth "book value" and there's $100M in debt and pole tax owed. Lawsuits threaten to wipe out current and future earnings too. Then there's the stock and it's manipulation between shorts who NEVER get burned, convertible debt, and share buybacks? It all feels orchastrated to me.
Yet the CEO gets to fly a beautiful new private jet and rake in millions in pay and stock options?
1. This was a dead cat bounce.
2. $10 won't hold as Eric stinks the place up.
3. You will NEVER see a dividend out of Eric. Hasn't happened in 16 years!
4. I'm sure you will dump if you get the .25 move you're begging for.
But I bet they did over the last 3 days. The BOD shouldn't allow them to put the company in financial danger by wasting cash with so many liabilities mounting.
"Changing the pay back in 2009 would have basically been admitting one was wrong."
No, it would be considered protecting shareholders for potentially further damages.
oraclealex • Feb 7, 2014 12:07 AM
"Hahaha......60% of the dancers in the class didn't work more than 20 days. There is no way all 1,700 and something get $16k plus. Even the ruling stipulates that fact. Interesting note......the Sept. summary judgment claimed the class was 1,900 dancers. The class appears to be shrinking? The $28M figure is just flat out ridiculous, but the plaintiff just had to show the possibility exist that damages would be over $5M. Assuming 40% worked more than 20 days, and they all magically were entitled to what Ms. Hart supposed damages were, Rick's would be on the hook for $12M. Though it probably isn't even that much, since Ms. Hart term of work at Rick's and 20 days is probably a very wide difference. $12M isn't going to break the company and the ruling is a jurisdictional issue."
Take a stand chump. Are you long or short? Or just a paid misinformer?
If the pay model is changed to meet the law, then future earnings will be HIGHER. I would have changed it in 2009 rather than paying the strippers as much as they were paid.
You are using half-truths and non-truths to in an attempt to scare people into selling. It's hard to ignore the fact that EVERYTIME you have tried these tactics, it has been a BUYING opportunity.
The stock is going to $13.50 or higher because nobody believes it can now. You will see!
"it is quite clear that under the current judge the case isn't going to be taking any favorable bounces in Rick's direction."
You have absolutely no way of knowing the final outcome.
In the very next sentence yo say that "the IC model is proper". Again you shouldn't be rushing to judgements when you hace ZERO credibility on the matters at hand.
Again, you're the one who needs to grow a spine and take a stand. You are so wishy-washy with your "matter of fact" nonsense that you are nausiating.
$10M is not the floor. It's a partial summary. The final summary may place value in the huge pay that the strippers DID receive. So the final judgement could be LESS. The strippers' lawyer knows that and she is lying through her teeth when says she looks forward to a trial imo. She will look like a power and money hungry feminist fool who will be hurting future strippers, some of which are her own clients. Many will never be hired as a stripper again imo.
And the settlement, or final judgement will be a tax write-off, so it won't be a dollar for dollar hit. A wiser CEO and CFO could have this company in a much stronger financial position when the time actually comes to take care of this. I suggest that the BOD gives them the boot Monday.
Why didn't RCI's big money lawyers advise the company correctly on the matter? Don't they know the law? Can they be sued for the damages since 2009 when they didn't advise the company to change the pay? Or did they tell Langan to but he refused to listen? Shareholders placed their trust and money in these people to do the right thing.
Why didn't you dolts believe me when I said that Langan needed to go several years ago?
How many 10's of Millions have his bad decisions cost shareholders over just the last 5-6 years? $40M, 50M, more? How about the 10 years prior? And then there's the private jets and hot rod prop jobs he just had to have. Another $10M, $15M+ blown? Is this showing off making RCI a target for lawsuits? I think so.
Where is the BOD that's supposed to keep the CEO in check? Why are they still around after their failures? Vegas, the Ricky Bobby name, and now this. They can't want what's best for shareholders and still let Eric have his way on everything, like Jets, buy 33rd Street, and new HQ's. Why didn't they put there heads together and solve the pay back in 2009? I kept asking if the pay had been changed and nobody ever addressed it.
Pumper Alex was pumping the company and EVERY move they made. He even thought the jets and planes were a brilliant move and even wrote a Seeking Alpha article on it. He continues to be lead bull$@&#er turned fear monger/legal expert. Dude, grab a spine and take a stand. Or are you on RCI's payroll?
He was down on bended knees for master Eric. He spoke of such high praise and even thought he could walk on water. Guess again!
...in the company jet, it would have been nice if those lawyers had steered Eric in the right direction on the labor suit and it's laws. Maybe there was too much fun going on to worry about protecting shareholders.
Since the case was filed in 2009, I would say that the losses accumulating since the filing date is on the lawyers for not advising correctly, WHILE taking pay from RCI.
Add RCI's lawyers to the list of those who need to be fired, Eric, Travis, the BOD, the corporate lawyers, the CFO who should have had the company financially prepared rather than taking on more debt , the management at Rick's NYC for hiring losers, ect ect.
Heisenberg would clean the place up REAL FAST! But I'm not sure this mess is worth cleaning up anymore.
Langan dropped the ball with this company. Nothing but one failure after another. $40M+ in losses over the last 5 years? Vegas, wrongful death, and this suit that could have been reduced had changes been made? The earnings and growth have all been a façade. Rewarding himself with a new jet and millions of dollars in salary is disturbing.
So does he blow shareholders' real estate equity on the lawsuit and the pole tax while he takes control of the real estate through the Private REIT? He will lose nothing, but shareholders will.
Or do these liabilities and possible subsidiary bankruptcy prevent the transfer of assets to the Private REIT? What a failure this guy turned this company into.
I should have shorted at $12 with the informed shorts and kept adding all the way down. You called it perfectly! You play this stock better than anyone!