CLCT going private

[Rich Klein]

According to Darren Rovell's story: The average age of the current board is 73. Nat Truner is 34. I suspect the younger people who will be joining the board will be more amenable to whatever technological changes will occur.

https://www.actionnetwork.com/news/p...n=DarrenRovell

Rich

[Aquarian Sports Cards]

Originally Posted by Rich Klein

According to Darren Rovell's story: The average age of the current board is 73. Nat Truner is 34. I suspect the younger people who will be joining the board will be more amenable to whatever technological changes will occur.

https://www.actionnetwork.com/news/p...n=DarrenRovell

Rich

If the company is going private there need be no board.

[jbsports33]

I wish him the best and PSA, there is some conflict of interest with this. Hoping he will make the hobby better anyways, time will tell how this will go. At least this is interesting news for the hobby and something to talk about. We all know we need a little cardboard talk right now.

Jimmy

[BRoberts]

Originally Posted by Aquarian Sports Cards

If the company is going private there need be no board.

Lol. Many, many private companies have boards of directors. Especially ones with the value of a PSA.

[Rich Klein]

Originally Posted by Aquarian Sports Cards

If the company is going private there need be no board.

Sometimes private companies do have advisory boards, so I bet there will be more help on this.

[Aquarian Sports Cards]

Originally Posted by BRoberts

Lol. Many, many private companies have boards of directors. Especially ones with the value of a PSA.

Originally Posted by Rich Klein

Sometimes private companies do have advisory boards, so I bet there will be more help on this.

Not seeing how any of this contradicts what I said. A private company is not required to have a board. Yes many do have one, but it is not a legal requirement.

[BRoberts]

Originally Posted by Aquarian Sports Cards

If the company is going private there need be no board is required.

Originally Posted by Aquarian Sports Cards

Not seeing how any of this contradicts what I said. A private company is not required to have a board. Yes many do have one, but it is not a legal requirement.

Fixed your post.

[swarmee]

Thinking about the vote of confidence in Joe Orlando... what were they going to say? We're buying the company and firing the top brass? Not bloody likely. Would make a whole lot of negative news for no reason.

Doesn't mean they think he's a long term fix. But he's a necessary evil during the transition time. Think of the new ownership group as the GM of a football team who keeps getting asked when the head coach is getting fired; it will happen in due time.

[Peter_Spaeth]

Originally Posted by swarmee

Thinking about the vote of confidence in Joe Orlando... what were they going to say? We're buying the company and firing the top brass? Not bloody likely. Would make a whole lot of negative news for no reason.

Doesn't mean they think he's a long term fix. But he's a necessary evil during the transition time. Think of the new ownership group as the GM of a football team who keeps getting asked when the head coach is getting fired; it will happen in due time.

Some of us dislike him because we think he favors certain submitters, doesn't do enough to stop doctored cards from getting through, and presides over a culture where dissent and questions are not tolerated. But if you're looking at this purely as a matter of dollars and cents, it's hard to deny that Joe has done a great job growing the PSA brand. The record revenues and backlogs attest to that, as does the fact that the scandal hasn't touched PSA. I'm not sure I would be thinking about replacing him.