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Not sure if this was posted before...
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http://web.archive.org/web/200801222...Portfolio.html Mastro Auctions offer the most ideal forum in which to bring high quality individual items and significant collections to the marketplace. Mastro Auctions not only helps you realize the highest possible prices for your valuable material, they offer consignors peace of mind that their consignments will be treated with the utmost care and that every aspect of the auction process will be executed with the greatest attention to every detail. SilkRoad Equity portfolio on June 25, 2009: Legendary Auctions offer the most ideal forum in which to bring high quality individual items and significant collections to the marketplace. Legendary Auctions not only helps you realize the highest possible prices for your valuable material, they offer consignors peace of mind that their consignments will be treated with the utmost care and that every aspect of the auction process will be executed with the greatest attention to every detail. |
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"Second verse, same as the first." |
Those in a "clique" keep themselves in good standing by poking at outsiders. Lots of personalities on these boards.
There was a reputation repair article in SMR which Doug Allen describes how he took the best parts of Mastro for Legendary. It was a disgusting read. |
"Those in a "clique" keep themselves in good standing by poking at outsiders. Lots of personalities on these boards."
Then we don't fit the definition. Mostly, we poke the "insiders" on this very board. I'm not sure what that's called, but I bet it starts with "disfunctional..."! |
If Silk Road owned Mastro and Silk Road now owns Legendary there was no "purchase" at all, merely a transfer of assets from one entity to another. It sounds to me from the article that was paraphrased that Doug was just trying to put a positive PR spin on it. And I would also guess that Doug well understands the importance of good will to a business -- more likely, as Greg pointed out, he is having a hard time maintaining it due to financial constraints.
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They are an alter ego case waiting to happen
Strip mine the assets of one subsidiary for another, use the old subsidiary's good record and publicity to gloss the second one, and so forth.
If I was going after them I'd name the whole lot as alter egos of one another and also name them as co-conspirators in a conspiracy to defraud creditors. And I'd use their own press releases and ads to fry them. But this is cards so I'm sure that as far down the sewer as they all go they will come out the other end sleeker, slicker and prettier than they went in. |
Adam, you have a way with words. If I'm ever in trouble (civil) you'll be the first person I call. If criminal I'd have to go with Calvindog. :D
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note the wording
"Lansing, IL - Legendary Auctions, a newly formed Sports and Americana auction house has announced today it has taken possession of Mastro Auctions' assets."
People interpreted this to mean an asset purchase but it is fully consistent with a transfer with no value exchanged. |
I would guess, that if any value was exchanged, it went to Bill Mastro to go away quietly and have his name removed from the business.
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