This would never happen to the Internext Show
 

corporate assfuck world

http://www.techweb.com/wire/story/TWB20030203S0007

Comdex Owner Files For Bankruptcy Protection
February 3, 2003 (6:17 p.m. EST)
TechWeb News

Key3Media Group Inc., producer and promoter of Comdex and other high-tech industry trade shows, filed for Chapter 11 bankruptcy protection on Monday.
The Los Angeles company filed with the U.S. Bankruptcy Court in Wilmington, Del., listing assets of $241.2 million and liabilities of $441 million as of Nov. 30 of last year.

Key3Media has suffered from the overall slump in the tech industry, which has seen massive layoffs over the last couple of years and a slowdown in corporate IT spending. With companies cutting back, there's less money to send staff to trade shows and conferences. Nevertheless, Key3Media said it planned to hold all of its scheduled events for the year.

Under the proposed reorganization plan, Thomas Weisel Capital Partners will own 99 percent of the re-capitalized company. General unsecured creditors and bondholders will own the remaining 1 percent, with the right to buy up to an additional 10 percent of the equity. TWCP owned 68 percent of Key3Media's bank debt and 38 percent of its bonds.

I am not sure about AVN's finances but my observation is that Internext is not growing in size, perhaps even contracting. Many vendors I spoke to were not thrilled about the return on their investment displaying there. What do you thinK?

Well I dont think that

1) too many people owe them money

2) they dont owe people money

Its the corporate world thats fuckd up when it comes to this shit

I agree, any business with even the smallest revenue stream can survive if you manage it right. Shrinking revenue, no revenue, missing revenue...it doesn't make a difference if you keep your eye on your cashflow. It's the Fucks like WorldCom & Enron who are out to line management pockets with as much $$$ as possible from creditors/investors that go bankrupt.


Like WorldCom/MCI, with 100 million customers paying monthly phonebills, can't make a go of it. Give me a break and manage your fucking business!


All these CEO Clowns running large corps get pie eyed thinking they can rule the world with future revenue but first they have to borrow a hundred gazillion and piss it away on marketing. Big surprise when the revenue doesn't show up and they run for Chpt 11 shelter. It wouldn't fucking happen if they were working with their own money.


Comdex, the biggest tech trade show going, didn't see the (2 yr old) tech slump coming? In 2003? As fucking if! Just another group of LearJet flying, fancy wine swilling, expense account padding, marketing types that have no business running a business.


PS. I own 20,000 shares of Global Crossing so I'm a little bitter.

VERY WELL SAID!

just wanted to add, FUCK YOU :BangBang: BELLSOUTH!

Please add a "Fuck you Verizon" in there as well! :321GFY

25 dollars to add a company :-)