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  #41  
Old Yesterday, 09:19 AM
Jerry Irvine's Avatar
Jerry Irvine Jerry Irvine is offline
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Quote:
Originally Posted by tbzep
Not to rain on any parades, but we thought Launch Magazine was in good shape, but many of us got stuck with 2+ years left on a subscription.
When my magazine CRm stopped production there was on average 7 months subscriptions that were stranded as well. I looked up the rules on that and as it turns out there is a special carve-out in law that exempts printed publications from refunding prepaid subscriptions. A sort of magazine BK rule. I guess the government determined long ago you can't get blood out of a turnip.

If I had it to do over again I would simply double the price. And turn off the phone.

Jerry

Here it is, for FREEEEE

http://www.v-serv.com/crp/CRm/CRm.htm
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  #42  
Old Yesterday, 09:42 AM
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Originally Posted by pterodactyl
Another rule of thumb is that you should reinvest in the business. Less the genius of Mr. John Boren and our other friends there I didn't notice much of that happening.
It would be interesting to know what their R&D budget did after Hobbico took over.

Based entirely on what John Boren posts here I would say they are full speed ahead on new product introductions and innovation given new manufacturing processes, all pushed through their Chinese pipe.
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  #43  
Old Yesterday, 10:08 AM
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Quote:
Originally Posted by Jerry Irvine
there is a special carve-out in law that exempts printed publications from refunding prepaid subscriptions.

Never knew that...I wonder who/what got that law into the books.

As for my statement, I'm not really worried about Estes, but just making note that you can't always trust what you read. Revell may be on solid ground, but there is no way for us to know. It's been done many times where companies put out statements that there's nothing to worry about, then they disappear.
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  #44  
Old Yesterday, 11:06 AM
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Companies almost always state they are on solid ground right up to the point of disappearance.
Statements of "novel accuracy" or "spin" are regularly released by corporate PR departments during times of financial crisis. May or may not be the case here in this instance, but not uncommon when a corporation is in bankruptcy.
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  #45  
Old Yesterday, 02:18 PM
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Jerry Irvine Jerry Irvine is offline
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One possibility is the lien holders could become the new owners of Estes and Revell. The operating companies themselves are good to go. Nobody has incentive to dissolve Cox or any of the brands Hobbico controls.

Sounds like it was managed like a D congressional committee runs the country. Debt and spending first, forget everything else.
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The O administration believed in tax, spend, borrow, fine, mandate, monologue. D voters will soon be very happy with the election outcome!
Model rocketry is as safe as safe can be defined in human existence. Bow and pray: GH Stine, Orville, Vern, Lee, Lonnie, Carl, etc. No, really.
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  #46  
Old Yesterday, 02:41 PM
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Agreed on both points (GH and JI). I'm just not going to be surprised either way, whether our hobby companies come out the other end of the tunnel stronger than ever, or disappear forever over the edge of the "flat earth".
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  #47  
Old Yesterday, 11:09 PM
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Quote:
Originally Posted by tbzep
Not to rain on any parades, but we thought Launch Magazine was in good shape, but many of us got stuck with 2+ years left on a subscription.


Yeah, but those charlatans were just thieves, pure and simple. They didn't even TRY...just kept taking money right up to when the pulled the plug and RAN.

We've had our share of that sort in rocketry to be sure... to wit, Sheri's Hot Rockets and Red Arrow Hobby, though there are surely others...

I'm sure someone will get all butt-hurt because these thieves were called out, but oh well... I call 'em like I see 'em and when you take money for things you KNOW you cannot or won't be delivering, that's THEFT pure and simple. And yeah those THIEVES took me for 3 years of undelivered LAUNCH magazines. That's why I'll NEVER take the chance and support such an outfit again... Figured with a 3 year subscription "up front" would help them get the magazine on it's feet... instead it just turns out I got BILKED by some cut-n-run THIEVES...

Later! OL J R
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  #48  
Old Yesterday, 11:17 PM
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Quote:
Originally Posted by luke strawwalker
Yeah, but those charlatans were just thieves, pure and simple.

And the lawyers and lien holders very well could be also.


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