|
bird with big dick posted:I love how they're talking about Blockbuster becoming enormously profitable by opening a bunch of brick and mortar theaters as opposed to you know those companies that already own thousands of brick and mortar theaters that aren't really doing that hot. Cargo cult approach to branding even moreso than branding is already cargo cult in the boardrooms. Malls in American in particular mostly suffer from having massively overstretched even at the height of their profitability iirc, especially with how many are built in bumfuck nowhere suburbia. The ones with actual viable locations are doing fine, apparently.
|
# ? Oct 12, 2023 04:57 |
|
|
# ? Jun 11, 2024 13:01 |
|
Boxturret posted:but they haven't thought of adding games to them! or blockchain
|
# ? Oct 12, 2023 04:58 |
|
istewart posted:I've actually been hoping somebody writes a well-documented, critical book on how Eddie Lampert ran Sears into the ground. Even as it was going on, hyper-capitalist finance/investor types were all, "yup, this guy's totally strip-mining the company for his own benefit, this is going to end badly." And it did! If somebody's already come out with that book and I just missed it, please let me know! I see that there's Institutional Suicide: Corporate Culture and the Death of Sears by Henry S. Sharp (356pp), available on Kindle for $7.50U.S. https://www.amazon.com/Institutional-Suicide-Corporate-Culture-Death-ebook/dp/B085WP5VW3 I don't see any reviews of it.
|
# ? Oct 12, 2023 05:48 |
|
ranbo das posted:BBBY is actually a perfect example of this, as they were going into bankruptcy a hedge fund bought hundreds of millions of dollars worth of stock from the company directly (which went directly into bonds, which were held by large corporations) and dumped them onto retail investors, netting profit in the tens of millions. Had it not been a meme stock, those hundreds of millions wouldn't have been able to be sold. AMC is interesting because, unlike the other meme stocks, it shows some signs of recovery. They still have liquidity and debt issues to go along with record revenues and solid profits, but they aren't facing the same doom spiral as Gamestop and Bed Barf and Babies.
|
# ? Oct 12, 2023 07:41 |
|
Thorgot posted:AMC is interesting because, unlike the other meme stocks, it shows some signs of recovery. AMC will probably crater like gamestop. The method of our entertainment consumption has changed and will continue to change, both AMC and gamestop have been far too slow to diversify their business's to adapt to that change.
|
# ? Oct 12, 2023 10:27 |
|
ranbo das posted:BBBY is actually a perfect example of this, as they were going into bankruptcy a hedge fund bought hundreds of millions of dollars worth of stock from the company directly (which went directly into bonds, which were held by large corporations) and dumped them onto retail investors, netting profit in the tens of millions. Had it not been a meme stock, those hundreds of millions wouldn't have been able to be sold. AMC has been the innovation leader in figuring out to exploit these cults into actually funding the company's operations. https://newsletterhunt.com/emails/24418 quote:You know the deal. AMC Entertainment Holdings Inc. had a meme stock that traded up a lot even as AMC’s business was struggling. AMC took advantage of this dynamic to sell a lot of stock — so much stock, in fact, that it ran out. Its corporate charter authorizes 524 million common shares, and by last summer it had issued essentially all of them.
|
# ? Oct 12, 2023 12:22 |
|
BigBadSteve posted:I see that there's Institutional Suicide: Corporate Culture and the Death of Sears by Henry S. Sharp (356pp), available on Kindle for $7.50U.S. I worked for Kmart shortly after Eddie Lampert took over and I'd love to read some books on the downfall, even though I already know a ton of the juicy details. Kmart/Sears absolutely had a path forward to stay relevant and continue to be a part of the retail landscape but Lampert just wanted the real estate. Make a buck today, gently caress tomorrow
|
# ? Oct 12, 2023 15:14 |
|
bagmonkey posted:I worked for Kmart shortly after Eddie Lampert took over and I'd love to read some books on the downfall, even though I already know a ton of the juicy details. Kmart/Sears absolutely had a path forward to stay relevant and continue to be a part of the retail landscape but Lampert just wanted the real estate. Make a buck today, gently caress tomorrow I worked for kmart very briefly during a poo poo time in my life and I got to be part of an eddie lampert idea: in-store pickup but there's only one nearly untrained employee picking merch and the store gets fined if the job isn't done in less than ten minutes even if the merch's untagged in the crates and/or backrooms zetamind2000 fucked around with this message at 15:38 on Oct 12, 2023 |
# ? Oct 12, 2023 15:35 |
|
TaurusTorus posted:We’re gonna be the Amazon of brick and mortar retail. This is like Amazon opening its facial recognition grocery stores and I poo poo you not barber salons in cities. Like come on guys you have a business model
|
# ? Oct 12, 2023 15:48 |
|
bird with big dick posted:I love how they're talking about Blockbuster becoming enormously profitable by opening a bunch of brick and mortar theaters as opposed to you know those companies that already own thousands of brick and mortar theaters that aren't really doing that hot. The people floating those ideas are basically describing the now defunct type of kids' entertainment center like Discovery Zone, which is like chuck e. Cheese with more playground equipment and poo poo to jump in It is absolutely just these dudes wanting their childhoods back plus video games and alcohol
|
# ? Oct 12, 2023 15:50 |
|
zetamind2000 posted:I worked for kmart very briefly during a poo poo time in my life and I got to be part of an eddie lampert idea: in-store pickup but there's only one nearly untrained employee picking merch and the store gets fined if the job isn't done in less than ten minutes even if the merch's untagged in the crates and/or backrooms I was there for a while because I weaseled myself into some decent raises, so I got to see SO loving MANY of his terrible ideas. My favorite was Sears Essentials because I got to travel locally for almost a year tearing poo poo down and rebuilding poo poo. It was a blast and I have fond memories of that, not much of the rest tho
|
# ? Oct 12, 2023 15:53 |
|
bagmonkey posted:I was there for a while because I weaseled myself into some decent raises, so I got to see SO loving MANY of his terrible ideas. My favorite was Sears Essentials because I got to travel locally for almost a year tearing poo poo down and rebuilding poo poo. It was a blast and I have fond memories of that, not much of the rest tho says a lot about sears as a metaphysical concept that if you google sears essentials the first thing that comes up is a wiki about a fictional timeline where dead brick and mortar companies are still alive https://usastorefanon.fandom.com/wiki/Sears_Essentials zetamind2000 fucked around with this message at 16:04 on Oct 12, 2023 |
# ? Oct 12, 2023 16:01 |
|
rotinaj posted:The people floating those ideas are basically describing the now defunct type of kids' entertainment center like Discovery Zone, which is like chuck e. Cheese with more playground equipment and poo poo to jump in I always wonder why there aren't more privatized playgrounds, since at least part of the year or on bad weather days, an indoor playground with special extra stuff seems like a good proposition for parents. And a decent birthday option. Staffing would be minimal, the parents themselves would provide supervision and you could have a little coffee shop or whatever attached for grown ups to hang out in while the kids play. And sell kid snacks of course.
|
# ? Oct 12, 2023 16:16 |
|
A Strange Aeon posted:I always wonder why there aren't more privatized playgrounds, since at least part of the year or on bad weather days, an indoor playground with special extra stuff seems like a good proposition for parents. And a decent birthday option. Staffing would be minimal, the parents themselves would provide supervision and you could have a little coffee shop or whatever attached for grown ups to hang out in while the kids play. And sell kid snacks of course. It's tough to keep businesses open on that basis, especially when you have fixed costs and finite capacity. (The actual business model is running an event venue for kids' birthday parties, foot traffic for the playground area can't compete on income and is just a way to get people in the door so they go "oh I can have Tayden's party here next month.")
|
# ? Oct 12, 2023 17:16 |
|
A Strange Aeon posted:I always wonder why there aren't more privatized playgrounds, since at least part of the year or on bad weather days, an indoor playground with special extra stuff seems like a good proposition for parents. And a decent birthday option. Staffing would be minimal, the parents themselves would provide supervision and you could have a little coffee shop or whatever attached for grown ups to hang out in while the kids play. And sell kid snacks of course. They became popular after my kid was too old to go, but I believe this is precisely what Gymboree
|
# ? Oct 12, 2023 17:39 |
|
rotinaj posted:The people floating those ideas are basically describing the now defunct type of kids' entertainment center like Discovery Zone, which is like chuck e. Cheese with more playground equipment and poo poo to jump in A big 30-plex movie theater near me did pretty much this a few years ago. They ripped out about half the screens, and turned that side of the building into a bowling alley / arcade / restaurant / laser tag arena. It's kid-friendly, but not entirely kid-focused (by which I mean there's a bar next to the restaurant area). Amazingly, it seems to have actually worked out. They do a brisk trade in kids' birthday parties during the day, and it usually has a decent crowd on Friday and Saturday nights, consisting mostly of under-21s in need of someplace, anyplace to hang out.
|
# ? Oct 12, 2023 17:59 |
|
A Strange Aeon posted:I always wonder why there aren't more privatized playgrounds, since at least part of the year or on bad weather days, an indoor playground with special extra stuff seems like a good proposition for parents. And a decent birthday option. Staffing would be minimal, the parents themselves would provide supervision and you could have a little coffee shop or whatever attached for grown ups to hang out in while the kids play. And sell kid snacks of course. Iirc it tends to be insurance costs and difficulties. A local skateboarding venue was forcibly shut down over such
|
# ? Oct 12, 2023 18:54 |
|
Apparently one of the apes catfished the CEO of AMC.Matt Levine's newsletter posted:I gather that the story here is:
|
# ? Oct 12, 2023 19:54 |
|
Catfish'ing the head of AMC? Oh really now, how is that even a crime. I feel like that sort of shananigans ought to be an expected part of the role.
|
# ? Oct 12, 2023 20:43 |
|
So is he long or short (this is important)?
|
# ? Oct 12, 2023 21:23 |
|
Powered Descent posted:...and it usually has a decent crowd on Friday and Saturday nights, consisting mostly of under-21s in need of someplace, anyplace to hang out. What the old abandoned rusty nail factory too good for them or something??? Kids today bah, so drat picky.
|
# ? Oct 12, 2023 22:05 |
|
I have a paper stock sitting in a drawer somewhere for Nortel Networks. Wonder if these Apes would pay for it.
|
# ? Oct 12, 2023 22:13 |
|
dr_rat posted:What the old abandoned rusty nail factory too good for them or something???
|
# ? Oct 12, 2023 22:20 |
|
is this a political ad from a Skyrim side-quest?
|
# ? Oct 12, 2023 23:46 |
|
shame on an IGA posted:AMC has been the innovation leader in figuring out to exploit these cults into actually funding the company's operations. lol, but seriously how is this not illegal
|
# ? Oct 12, 2023 23:51 |
|
Mercury_Storm posted:lol, but seriously how is this not illegal investment people are 100% in the business of finding conniving schemes that somehow seem to make money that are technically not fully illegal yet, but obviously should be if anyone was paying attention they then involve just enough very very rich people who are connected enough to wave an under the table go-ahead for a few months or years etc. to make them all a bundle, unless it collapses in which case they get a gov. bailout and/or they pick a sacrificial victim to blame. if the scheme never stops making money it becomes enshrined as a foundation of capitalism
|
# ? Oct 13, 2023 00:00 |
|
RoastBeef posted:Apparently one of the apes catfished the CEO of AMC.
|
# ? Oct 13, 2023 01:30 |
|
shame on an IGA posted:AMC has been the innovation leader in figuring out to exploit these cults into actually funding the company's operations. Thanks so much, I’ve always found the exact deal with APE to be a bit impenetrable so this is great. I’ll add it to the helpful links. Mercury_Storm posted:lol, but seriously how is this not illegal I think there’s a few things at play here. AMC hasn’t really been underhanded about what they have been doing here. They publicly tried to dilute their stock. The public results of that vote were that it did not go through because not enough people voted for it, but also a majority did not vote against. They then publicly came up with and executed this new plan that let them dilute without a majority of shareholders agreeing to it. At no point (afaik) did they make any attempt whatsoever to obfuscate their goals and methods. Are they liable for the losses of people who failed to recognize it? Normally, I would say no, and I think no court in the land would disagree with me on that. If you invest in a stock without being able to recognize what is happening with it and then something bad happens that you failed to recognize until it was too late, that’s your fault. Sucks to suck, should have bought an index fund instead. However, AMC is unique. Unlike every other meme stock in the game, they (and in particular the CEO) made moves which were explicitly and unequivocally designed to attract and foster a community of apes. They specifically cultivated a base of stockholders who would be unlikely to understand that a company doing this is generally bad for shareholders, and even in the event that they do recognize it is generally bad, would pointedly overlook that AMC is doing it and dismiss all evidence of dilution until it was too late. At some point I’m going to go back and try to find some examples but as far as I know this is exactly what happened; Apes celebrated the launch of APE and shouted down anyone who suggested it would make the stock price go down until the very day it became interchangeable with common stock. This is the outcome that AMC was aiming for. So, are they liable for that? Well, who knows? There isn’t much in the way of precedent for this. There has never been a point in history where individual household investors have collectively held enough of the shares for several large companies that those companies had to take them into account when doing stuff like calling votes or diluting stock. There is a lawsuit ongoing against Ryan Cohen for misleading his ape fandom so he could profit off them, but that case is ongoing and there is no guarantee the result will become precedent for anything. Regulatory action may also be in the works. Finally, we have to consider that the squeaky wheel gets the grease: the extent to which AMC is held accountable for the losses it may or may not have inflicted on apes will be influenced by how many apes are willing to actually admit that their shares are now worth less. If a decent percentage of the apes affected by this dilution band together to launch a class action lawsuit against AMC, it may very well go somewhere, but history indicates that most of them will insist their shares are still worth significantly more than their market value pre- or post-dilution. Those people will simply refuse to claim damages, much like many apes who stand to benefit from the current lawsuit against Ryan Cohen vehemently reject that he mislead them.
|
# ? Oct 13, 2023 03:41 |
|
BigBadSteve posted:I see that there's Institutional Suicide: Corporate Culture and the Death of Sears by Henry S. Sharp (356pp), available on Kindle for $7.50U.S. This looks like the most boring book ever about what should be an incredibly interesting story that deserves a deep dive of what was happening within the company. It's part of Kindle Unlimited, can someone take a look and see if the book is any good?
|
# ? Oct 13, 2023 04:56 |
|
rotinaj posted:The people floating those ideas are basically describing the now defunct type of kids' entertainment center like Discovery Zone, which is like chuck e. Cheese with more playground equipment and poo poo to jump in I mean that sounds fairly enjoyable. Discovery Zone rave at the barcade.
|
# ? Oct 13, 2023 06:07 |
|
Big fan of this r/BBBY post:an ape posted:Shame on the moderators at this sub for allowing the perception to persist that this sub has died by suppressing all the posts. You are trying to build a false narrative for anyone coming here looking for information. Now the mods are shills! And they're shilling by ... not posting!
|
# ? Oct 13, 2023 22:11 |
|
AMC is good at exploiting morons but not good at running a business. They were in dire straits well before the pandemic hit--the memes bought them a lifeline, but I've zero reason to believe they'll be able to use it properly.
|
# ? Oct 13, 2023 22:31 |
|
no one wants anything to do with us. this can only be bullish.
|
# ? Oct 14, 2023 00:24 |
|
Trillhouse posted:
somehow they keep surprising me
|
# ? Oct 14, 2023 00:30 |
|
Original_Z posted:This looks like the most boring book ever about what should be an incredibly interesting story that deserves a deep dive of what was happening within the company. It's part of Kindle Unlimited, can someone take a look and see if the book is any good? It's an academic text (social anthropology), and the author's an anthropologist. Make of that what you will.
|
# ? Oct 14, 2023 00:55 |
|
Ariong posted:I think there’s a few things at play here. AMC hasn’t really been underhanded about what they have been doing here. They publicly tried to dilute their stock. The public results of that vote were that it did not go through because not enough people voted for it, but also a majority did not vote against. They then publicly came up with and executed this new plan that let them dilute without a majority of shareholders agreeing to it. At no point (afaik) did they make any attempt whatsoever to obfuscate their goals and methods. Are they liable for the losses of people who failed to recognize it? This is the whole crux. The SEC’s entire governing philosophy is that disclosure cures all. You want the privilege of selling to retail investors, you’ve got to tell them everything. And if you’re honest, and do tell them everything, up to a point (thinking of Hertz trying to sell shares while literally bankrupt), you’re good. Look at BBBY six months ago, basically saying “the board issuing this stock does not see a likely way to return the company to sustainability”. They were honest, people bought it anyway, in the way the SEC sees the world that’s how the system is supposed to work. There’s no “but we know that the investors in this particular security are in fact morons” clause in the securities laws. Maybe there’s an argument there should be one, that SEC (or CFTC) registration should actually be substantive, rather than disclosure-based, but it runs against pretty much a solid century of the governing philosophy of market regulation. AMC fully disclosed what they were doing, they gave it a clever name, and they profited. You really can’t treat them differently because the market has idiots that go “hehehe APEs together strong”. It’s the same market that sent Pokémon Company stock skyrocketing during the Pokémon Go craze, when that game was made by a different company.
|
# ? Oct 14, 2023 14:39 |
|
Jean-Paul Shartre posted:It’s the same market that sent Pokémon Company stock skyrocketing during the Pokémon Go craze, when that game was made by a different company. That's wasn't necessarily a crazy investment choice though, thinking that the popularity of Pokemon Go would positively impact other Pokemon products made by the Pokemon company was pretty reasonable. Not sure if it did, since the Pokemon Go craze ended up being pretty short lived, but that doesn't mean the investment choice was crazy.
|
# ? Oct 15, 2023 00:31 |
|
i was behind a car that had a sticker with "amc" and a gorilla thumping its chest, and i knew something about that driver thanks to this thread. i assume
|
# ? Oct 15, 2023 01:26 |
|
Zippy the Bummer posted:i was behind a car that had a sticker with "amc" and a gorilla thumping its chest, and i knew something about that driver thanks to this thread. i assume This is a truck I saw last year in Madera, the middle of nowhere in central California
|
# ? Oct 15, 2023 02:06 |
|
|
# ? Jun 11, 2024 13:01 |
|
oh my
|
# ? Oct 15, 2023 02:16 |