NonSports Forum

Net54baseball.com
Welcome to Net54baseball.com. These forums are devoted to both Pre- and Post- war baseball cards and vintage memorabilia, as well as other sports. There is a separate section for BSelling and Trading - the B/S/T area!! If you write anything concerning a person or company your full name needs to be in your post or obtainable from it. . Contact the moderator at leon@net54baseball.com should you have any questions or concerns. Enjoy!
Net54baseball.com
Net54baseball.com
ebay GSB
T206s on Ebay
Pre-WWII Cards
Post WWII Cards
Vintage Memorabilia
Babe Ruth Cards
Ty Cobb Cards
Lou Gehrig Cards
Mickey Mantle Cards
Goudey Cards
Bowman Cards
T205s on Ebay
Tobacco "T" Cards
Caramel "E" Cards
Vintage Baseball Postcards
Football Cards on Ebay
Exhibit Cards
Strip Cards
Baking Cards
Sporting News
Playball Cards on Ebay

Go Back   Net54baseball.com Forums > Net54baseball Main Forum - WWII & Older Baseball Cards > Net54baseball Vintage (WWII & Older) Baseball Cards & New Member Introductions

Reply
 
Thread Tools Display Modes
  #1  
Old 11-30-2020, 08:48 AM
Peter_Spaeth's Avatar
Peter_Spaeth Peter_Spaeth is offline
Peter Spaeth
Member
 
Join Date: Apr 2009
Posts: 20,935
Default CLCT going private

https://seekingalpha.com/news/363996...m-buyout-offer
__________________
My avatar is a sketch by my son who is an art school graduate. Some of his sketches and paintings are at www.jamesspaethart.com. He is available to do custom drawings in graphite, charcoal and other media.

Last edited by Peter_Spaeth; 11-30-2020 at 08:48 AM.
Reply With Quote
  #2  
Old 11-30-2020, 08:56 AM
Aquarian Sports Cards Aquarian Sports Cards is offline
Scott Russell
Member
 
Join Date: Jun 2016
Location: Pennsylvania
Posts: 4,553
Default

So any vestige of accountability just flew out the window. >sigh<
__________________
Check out https://www.thecollectorconnection.com Always looking for consignments 717.327.8915 We sell your less expensive pre-war cards individually instead of in bulk lots to make YOU the most money possible!
Reply With Quote
  #3  
Old 11-30-2020, 08:56 AM
Republicaninmass Republicaninmass is online now
T3d $h3rm@n
Member
 
Join Date: May 2009
Posts: 6,153
Default

Buying at the top!
__________________
"Trolling Ebay right now" ©

NEED THE FOLLOWING 1952 topps

G TO VG-EX

(TONS TO TRADE, HIGHS LOWS, VARIATIONS, ERRORS)

317
322
328
334
345
347
354
355
357
366
375
386
399
403
Reply With Quote
  #4  
Old 11-30-2020, 09:03 AM
sportscardpete's Avatar
sportscardpete sportscardpete is online now
Pete
Member
 
Join Date: Sep 2010
Location: New York
Posts: 1,096
Default

Those are heavyweight investors. And I’m pretty sure they’re long-term valuation is double what they paid for (as shocking as it sounds).
__________________
www.thecreasedcorner.com

Looking for a Dietsche Cobb fielding
Reply With Quote
  #5  
Old 11-30-2020, 09:11 AM
Peter_Spaeth's Avatar
Peter_Spaeth Peter_Spaeth is offline
Peter Spaeth
Member
 
Join Date: Apr 2009
Posts: 20,935
Default

It will be interesting to see if they retain management.
__________________
My avatar is a sketch by my son who is an art school graduate. Some of his sketches and paintings are at www.jamesspaethart.com. He is available to do custom drawings in graphite, charcoal and other media.
Reply With Quote
  #6  
Old 11-30-2020, 09:15 AM
Rhotchkiss's Avatar
Rhotchkiss Rhotchkiss is online now
Member
 
Join Date: Dec 2016
Posts: 2,437
Default

Wow. I need to digest this. I hope management gets the boot. I also hope they change their f-ing motto
Attached Images
File Type: jpg D3B5202B-E734-4FF2-B5E1-A77B2C3B30B0.jpg (9.9 KB, 1579 views)
Reply With Quote
  #7  
Old 11-30-2020, 09:19 AM
sando69's Avatar
sando69 sando69 is offline
mark sanders
Member
 
Join Date: Apr 2009
Location: capistrano beach, ca
Posts: 355
Default

which motto is that, ryan-
"Never get [concerned about being] cheated"?
__________________
T206 COBB RED Wanted:
Blank Back, Broad Leaf, Drum, Hindu, &
Piedmont 350, also
BAT ON: Old Mill, SC 350/25
BAT OFF: Cycle, Lenox, Piedmont 460/42, Uzit
& Piedmont 350

Last edited by sando69; 11-30-2020 at 09:32 AM.
Reply With Quote
  #8  
Old 11-30-2020, 10:10 AM
vintagewhitesox vintagewhitesox is offline
Josh Adams
Member
 
Join Date: May 2009
Location: Chicago, IL
Posts: 375
Default

Nat Turner is a very passionate collector and cares very much about the hobby. I think this is a possitive for the hobby. He's talked frequently about ideas to make PSA operate better.
He does like Orlando though, based on recent statements and this morning's press release.

I think this is a good day for the hobby. The Board of Directors did not care about our hobby, did not take stock options as payments, and let the company languish to the point that we are waiting 6-9 months for submissions.
Reply With Quote
  #9  
Old 11-30-2020, 10:16 AM
iwantitiwinit's Avatar
iwantitiwinit iwantitiwinit is offline
rob.ert int.rieri
 
Join Date: May 2009
Location: NC
Posts: 1,631
Default

Cohen Private Ventures, assuming they are the same Cohen Private Ventures, LLC, they are owned by Steve Cohen owner of Point72 (formerly SAC Capital) and the New York Mets. It would be surprising to me if Mr. Cohen made an investment without performing a high level of due diligence and being satisfied with the results of that process.

Last edited by iwantitiwinit; 11-30-2020 at 10:19 AM.
Reply With Quote
  #10  
Old 11-30-2020, 10:36 AM
Johnny630 Johnny630 is offline
Johnny MaZilli
Member
 
Join Date: Nov 2015
Posts: 2,378
Default

Nat Turner is a very smart guy. I'm looking forward to his ownership of CLCT. I think this is going to be very good.
Reply With Quote
  #11  
Old 11-30-2020, 11:00 AM
MattyC's Avatar
MattyC MattyC is offline
Matt
Member
 
Join Date: Nov 2012
Location: CA
Posts: 2,121
Default

Pretty big conflict of interest, with a collector able to print his own grades at will. I guess no different than it ever was in the TPG space from the history I’ve absorbed over the years.
Reply With Quote
  #12  
Old 11-30-2020, 11:17 AM
MikeGarcia MikeGarcia is offline
Member
 
Join Date: May 2009
Posts: 1,358
Default Big No-N0

Quote:
Originally Posted by MattyC View Post
Pretty big conflict of interest, with a collector able to print his own grades at will. I guess no different than it ever was in the TPG space from the history I’ve absorbed over the years.


...SEC forbids insider grading......

..
Reply With Quote
  #13  
Old 11-30-2020, 11:23 AM
MattyC's Avatar
MattyC MattyC is offline
Matt
Member
 
Join Date: Nov 2012
Location: CA
Posts: 2,121
Default

Well played, Mike!
Reply With Quote
  #14  
Old 11-30-2020, 11:57 AM
111gecko 111gecko is offline
G.ary L.eavitt
Member
 
Join Date: Aug 2009
Location: North Carolina
Posts: 323
Default

You know they wouldn’t have spent that kind of money if they didn’t know they were in the clear for any type of accountability for the altered cards in their holders...are the bad guys going to walk as well??
__________________
Always looking for PSA Graded 1952 Topps:
1-80 PSA 7
81-310 PSA 8
311-407 PSA 6
Reply With Quote
  #15  
Old 11-30-2020, 12:00 PM
irishdenny's Avatar
irishdenny irishdenny is offline
Member
 
Join Date: May 2009
Posts: 1,358
Default

Quote:
Originally Posted by Peter_Spaeth View Post
Bettar to Sell Cheap...
Than Enter a Cell Broke!
__________________
Life's Grand,
Denny Walsh
Reply With Quote
  #16  
Old 11-30-2020, 12:01 PM
Johnny630 Johnny630 is offline
Johnny MaZilli
Member
 
Join Date: Nov 2015
Posts: 2,378
Default

Quote:
Originally Posted by 111gecko View Post
You know they wouldn’t have spent that kind of money if they didn’t know they were in the clear for any type of accountability for the altered cards in their holders...are the bad guys going to walk as well??

Yes
Reply With Quote
  #17  
Old 11-30-2020, 12:18 PM
samosa4u's Avatar
samosa4u samosa4u is offline
Ran-jodh Dh.ill0n
 
Join Date: May 2017
Location: Toronto
Posts: 1,001
Default

Can somebody tell me how I can reach out to Nat Turner? He needs to get PSA to start grading Star Co. basketball cards again! PSA has blacklisted these cards for way too long and everybody is sick of it! Come on, Nat, do the right thing!
__________________
Successful transactions on Net54: Peter_Spaeth, rustywilly, esehombre, scooter729, NiceDocter, Mishu2nite, wolf441, jdeptula, mckinneyj and more!
Reply With Quote
  #18  
Old 11-30-2020, 12:23 PM
CobbSpikedMe's Avatar
CobbSpikedMe CobbSpikedMe is offline
Andy Hunt00n
Member
 
Join Date: May 2009
Location: Belle Mead, NJ
Posts: 1,692
Default

Quote:
Originally Posted by samosa4u View Post
Can somebody tell me how I can reach out to Nat Turner?

nat.turner@ gmail.com?



.
__________________
I'm always looking for t206's with purple numbers stamped on the back like the one in my avatar.

The Great T206 Back Stamp Project: Click Here
My Online Trading Site: Click Here
Member of OBC (Old Baseball Cards), the longest running on-line collecting club www.oldbaseball.com
My Humble Blog: Click Here
Reply With Quote
  #19  
Old 11-30-2020, 01:20 PM
Lorewalker's Avatar
Lorewalker Lorewalker is offline
Chase
Member
 
Join Date: May 2018
Location: Oakland, CA
Posts: 280
Default

Quote:
Originally Posted by MattyC View Post
Pretty big conflict of interest, with a collector able to print his own grades at will. I guess no different than it ever was in the TPG space from the history I’ve absorbed over the years.

I think ya meant observed but absorbed is more fitting. The whole collecting community has absorbed it big time. Millions of bad slabs. Never gonna change.
__________________
( h @ $ e A n + l e y
Reply With Quote
  #20  
Old 11-30-2020, 02:58 PM
Rich Klein Rich Klein is offline
Rich Klein
Member
 
Join Date: Apr 2009
Location: Plano Tx
Posts: 4,019
Default

We're discussing the world today; I will also say, I'm more fascinated by what 2023 will bring because I believe about 2 years in will be when some major personnel changes may just occur. That is just my opinion, nothing more, nothing less.
__________________
Look for our show listings in the Net 54 Calendar section
Reply With Quote
  #21  
Old 11-30-2020, 02:59 PM
steve B steve B is offline
Steve Birmingham
Member
 
Join Date: Sep 2009
Location: eastern Mass.
Posts: 6,574
Default

Quote:
Originally Posted by MattyC View Post
Pretty big conflict of interest, with a collector able to print his own grades at will. I guess no different than it ever was in the TPG space from the history I’ve absorbed over the years.
But there's the odd catch 22 in all this.

Everyone wants the cards graded by people who know about the cards..
But not by anyone that collects them..

That really shrinks the pool of potential graders.
Reply With Quote
  #22  
Old 11-30-2020, 03:43 PM
rats60's Avatar
rats60 rats60 is offline
Member
 
Join Date: Aug 2014
Posts: 2,326
Default

Quote:
Originally Posted by steve B View Post
But there's the odd catch 22 in all this.

Everyone wants the cards graded by people who know about the cards..
But not by anyone that collects them..

That really shrinks the pool of potential graders.
Why would we want a collector to grade our cards? We would never be able to get our reprint Cracker Jacks graded as authentic.

Nat Turner is well know collector of modern basketball cards. He has been trying to buy PSA for a while with the intention of improving the grading industry. Shouldn't we give him a chance before implying that he is unethical without any evidence?
Reply With Quote
  #23  
Old 11-30-2020, 04:41 PM
slightlyrounded slightlyrounded is offline
Aaron
member
 
Join Date: Dec 2017
Location: Beautiful BC
Posts: 61
Default

Quote:
Originally Posted by rats60 View Post
Why would we want a collector to grade our cards? We would never be able to get our reprint Cracker Jacks graded as authentic.

Nat Turner is well know collector of modern basketball cards. He has been trying to buy PSA for a while with the intention of improving the grading industry. Shouldn't we give him a chance before implying that he is unethical without any evidence?
This.

I can't think of a more promising turn for PSA than having Nat Turner involved: A young, passionate, tech-savvy collector with an equal respect for modern and vintage sides of the hobby. Also someone who has been vocal about PSA's shortcomings over the years.

Unfortunately, there's are a lot of legacy issues that the new owners will be forced to navigate and hopefully they'll stay accountable to the community while doing so - It's all we can ask for.
Reply With Quote
  #24  
Old 11-30-2020, 05:19 PM
Bobbycee's Avatar
Bobbycee Bobbycee is offline
Bob
member
 
Join Date: Nov 2015
Location: New Jersey
Posts: 79
Default

HEY!! Another Nat Turner rebellion...
Reply With Quote
  #25  
Old 11-30-2020, 05:42 PM
hcv123 hcv123 is offline
Howard Chasser
Member
 
Join Date: Sep 2009
Location: NY
Posts: 2,375
Default Well said

While I believe "things can always get worse", I believe there is a lot more space to improve than to get worse! A passionate collector - a successful entrepreneurial investment team! I REALLY like the start of this! So much potential with the right changes! If done right - they will be light years ahead of the other grading companies!
Reply With Quote
  #26  
Old 11-30-2020, 07:36 PM
Rich Klein Rich Klein is offline
Rich Klein
Member
 
Join Date: Apr 2009
Location: Plano Tx
Posts: 4,019
Default

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
__________________
Look for our show listings in the Net 54 Calendar section
Reply With Quote
  #27  
Old 11-30-2020, 07:57 PM
Aquarian Sports Cards Aquarian Sports Cards is offline
Scott Russell
Member
 
Join Date: Jun 2016
Location: Pennsylvania
Posts: 4,553
Default

Quote:
Originally Posted by Rich Klein View Post
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.
__________________
Check out https://www.thecollectorconnection.com Always looking for consignments 717.327.8915 We sell your less expensive pre-war cards individually instead of in bulk lots to make YOU the most money possible!
Reply With Quote
  #28  
Old 11-30-2020, 08:28 PM
jbsports33's Avatar
jbsports33 jbsports33 is offline
Jimmy
Member
 
Join Date: May 2009
Location: MA
Posts: 1,416
Default

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
__________________
“Devoted to Bringing Quality Vintage Sports Cards and Memorabilia to the Hobby”
http://www.jbsportsauctions.com
Reply With Quote
  #29  
Old 11-30-2020, 08:33 PM
Peter_Spaeth's Avatar
Peter_Spaeth Peter_Spaeth is offline
Peter Spaeth
Member
 
Join Date: Apr 2009
Posts: 20,935
Default

Quote:
Originally Posted by slightlyrounded View Post
This.

I can't think of a more promising turn for PSA than having Nat Turner involved: A young, passionate, tech-savvy collector with an equal respect for modern and vintage sides of the hobby. Also someone who has been vocal about PSA's shortcomings over the years.

Unfortunately, there's are a lot of legacy issues that the new owners will be forced to navigate and hopefully they'll stay accountable to the community while doing so - It's all we can ask for.
Where was he vocal about PSA's shortcomings and what did he say?
__________________
My avatar is a sketch by my son who is an art school graduate. Some of his sketches and paintings are at www.jamesspaethart.com. He is available to do custom drawings in graphite, charcoal and other media.
Reply With Quote
  #30  
Old 11-30-2020, 08:53 PM
BRoberts BRoberts is offline
Bill Roberts
member
 
Join Date: Mar 2020
Location: Los Angeles
Posts: 126
Default

Quote:
Originally Posted by Aquarian Sports Cards View Post
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.
Reply With Quote
  #31  
Old 11-30-2020, 08:53 PM
Rich Klein Rich Klein is offline
Rich Klein
Member
 
Join Date: Apr 2009
Location: Plano Tx
Posts: 4,019
Default

Quote:
Originally Posted by Aquarian Sports Cards View Post
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.
__________________
Look for our show listings in the Net 54 Calendar section
Reply With Quote
  #32  
Old 11-30-2020, 09:59 PM
todeen's Avatar
todeen todeen is offline
Tim Odeen
Member
 
Join Date: Jul 2013
Posts: 1,376
Default

Quote:
Originally Posted by Bobbycee View Post
HEY!! Another Nat Turner rebellion...
+1. Nice historical joke

Sent from my SAMSUNG-SM-G930A using Tapatalk
__________________
Barry Larkin, Joey Votto, Tris Speaker, 1930-45 Cincinnati Reds, T206 Cincinnati
Successful deals with: Banksfan14, Brianp-beme, Bumpus Jones, Dacubfan (x5), Dstrawberryfan39, Ed_Hutchinson, Fballguy, fusorcruiser (x2), GoCalBears, Gorditadog, Luke, MikeKam, Moosedog, Nineunder71, Powdered H20, PSU, Ronniehatesjazz, Roarfrom34, Sebie43, Seven, and Wondo
Reply With Quote
  #33  
Old 11-30-2020, 10:40 PM
AGuinness's Avatar
AGuinness AGuinness is offline
Garth Guibord
Member
 
Join Date: Jan 2016
Location: Portland, OR
Posts: 911
Default

Quote:
Originally Posted by 111gecko View Post
You know they wouldn’t have spent that kind of money if they didn’t know they were in the clear for any type of accountability for the altered cards in their holders...are the bad guys going to walk as well??
Haven't they done so already? Again and again and again... for every Mastro, how many other shady people never get brought to justice? I'd guess a lot.
Reply With Quote
  #34  
Old 11-30-2020, 11:05 PM
joshuanip's Avatar
joshuanip joshuanip is offline
Joshua
Member
 
Join Date: Nov 2017
Location: Los Angeles
Posts: 513
Default

At first blush, their steady cash flow business and upside to market share reversion makes it a great candidate to stuff with mezzanine debt...sell off the higher tranches and retain the equity for a reipo down the road.

Financial engineering cookbook to meet hurdles and get that carry...
Reply With Quote
  #35  
Old 11-30-2020, 11:24 PM
steve B steve B is offline
Steve Birmingham
Member
 
Join Date: Sep 2009
Location: eastern Mass.
Posts: 6,574
Default

Quote:
Originally Posted by rats60 View Post
Why would we want a collector to grade our cards? We would never be able to get our reprint Cracker Jacks graded as authentic.

Nat Turner is well know collector of modern basketball cards. He has been trying to buy PSA for a while with the intention of improving the grading industry. Shouldn't we give him a chance before implying that he is unethical without any evidence?
I was more replying to Mattys post.

I think it would be an additional challenge to have people totally unfamiliar with cards do the grading. A lot of the mainstream cards could be taught, but if you get outside the very common stuff you need an expert.

I see many people say that's a conflict, but it's pretty much unavoidable. In my other hobbies, the expertisers are almost always collectors or dealers. And they all get items certified if not graded. (Not much point grading a unique item) The companies generally just make sure the submitter isn't the one looking at it.
It can be difficult in some small niches. I have one thing that I haven't had expertised, and the best experts in that very narrow area already know of it and whose it is from the article about it.
Reply With Quote
  #36  
Old 12-01-2020, 05:40 AM
BuzzD's Avatar
BuzzD BuzzD is offline
Member
 
Join Date: Jan 2017
Location: New York metro area
Posts: 290
Default

Quote:
Originally Posted by Peter_Spaeth View Post
Where was he vocal about PSA's shortcomings and what did he say?
It would be no surprise if a significant dollar amount of the sale price was set aside in escrow to fund future liabilities and then released over time, say 5-10 yrs.
__________________
Buzz

PreWar NYAL cards, photos, etc.
WantList: Mendelsohns Marsans; Rose 760PC Niles;T3 Criger
Successful deals with 30+ board members
Reply With Quote
  #37  
Old 12-01-2020, 07:12 AM
Aquarian Sports Cards Aquarian Sports Cards is offline
Scott Russell
Member
 
Join Date: Jun 2016
Location: Pennsylvania
Posts: 4,553
Default

Quote:
Originally Posted by BRoberts View Post
Lol. Many, many private companies have boards of directors. Especially ones with the value of a PSA.
Quote:
Originally Posted by Rich Klein View Post
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.
__________________
Check out https://www.thecollectorconnection.com Always looking for consignments 717.327.8915 We sell your less expensive pre-war cards individually instead of in bulk lots to make YOU the most money possible!
Reply With Quote
  #38  
Old 12-01-2020, 09:16 AM
Peter_Spaeth's Avatar
Peter_Spaeth Peter_Spaeth is offline
Peter Spaeth
Member
 
Join Date: Apr 2009
Posts: 20,935
Default

Quote:
Originally Posted by BuzzD View Post
It would be no surprise if a significant dollar amount of the sale price was set aside in escrow to fund future liabilities and then released over time, say 5-10 yrs.
In the purchase of a publicly held company? I doubt it.
__________________
My avatar is a sketch by my son who is an art school graduate. Some of his sketches and paintings are at www.jamesspaethart.com. He is available to do custom drawings in graphite, charcoal and other media.
Reply With Quote
  #39  
Old 12-01-2020, 10:12 AM
swarmee's Avatar
swarmee swarmee is offline
J0hn Raff3rty
Member
 
Join Date: Jul 2014
Location: Niceville FL
Posts: 5,677
Default

So, what happens to the Grade Guarantee? Still in force? Will it still apply to cards graded before the buyout?
__________________
--
PWCC: The Fish Stinks From the Head
PSA: Regularly Get Cheated
BGS: Can't detect trimming on modern
SGC: Closed auto authentication business
JSA: Approved same T206 Autos before SGC
Oh, what a difference a year makes.
Reply With Quote
  #40  
Old 12-01-2020, 10:24 AM
Rich Klein Rich Klein is offline
Rich Klein
Member
 
Join Date: Apr 2009
Location: Plano Tx
Posts: 4,019
Default

Dr. Beckett who kind of, sort of, has experience in running and then selling a company had some thoughts on his podcast this AM. Interesting perspective from someone who had been there. Plus about a week ago he ran a podcast with the person who was Beckett's CEO after he sold the company. I'd suggest listening to both. Not totally similar but some crossover

https://beckettinsights.podbean.com/e/356-psa-buyout/
__________________
Look for our show listings in the Net 54 Calendar section
Reply With Quote
  #41  
Old 12-01-2020, 10:28 AM
sportscardpete's Avatar
sportscardpete sportscardpete is online now
Pete
Member
 
Join Date: Sep 2010
Location: New York
Posts: 1,096
Default

Quote:
Originally Posted by joshuanip View Post
At first blush, their steady cash flow business and upside to market share reversion makes it a great candidate to stuff with mezzanine debt...sell off the higher tranches and retain the equity for a reipo down the road.

Financial engineering cookbook to meet hurdles and get that carry...
Oh, this will definitely be re-IPO'd. 3, 5 years? Think what they are working on needs to be done in a private setting. They'll see value from it in a few years.
__________________
www.thecreasedcorner.com

Looking for a Dietsche Cobb fielding
Reply With Quote
  #42  
Old 12-01-2020, 11:05 AM
BRoberts BRoberts is offline
Bill Roberts
member
 
Join Date: Mar 2020
Location: Los Angeles
Posts: 126
Default

Quote:
Originally Posted by Aquarian Sports Cards View Post
If the company is going private there need be no board is required.
Quote:
Originally Posted by Aquarian Sports Cards View Post
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.
Reply With Quote
  #43  
Old 12-01-2020, 03:33 PM
swarmee's Avatar
swarmee swarmee is offline
J0hn Raff3rty
Member
 
Join Date: Jul 2014
Location: Niceville FL
Posts: 5,677
Default

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.
__________________
--
PWCC: The Fish Stinks From the Head
PSA: Regularly Get Cheated
BGS: Can't detect trimming on modern
SGC: Closed auto authentication business
JSA: Approved same T206 Autos before SGC
Oh, what a difference a year makes.
Reply With Quote
  #44  
Old 12-01-2020, 06:48 PM
Peter_Spaeth's Avatar
Peter_Spaeth Peter_Spaeth is offline
Peter Spaeth
Member
 
Join Date: Apr 2009
Posts: 20,935
Default

Quote:
Originally Posted by swarmee View Post
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.
__________________
My avatar is a sketch by my son who is an art school graduate. Some of his sketches and paintings are at www.jamesspaethart.com. He is available to do custom drawings in graphite, charcoal and other media.

Last edited by Peter_Spaeth; 12-01-2020 at 06:50 PM.
Reply With Quote
  #45  
Old 12-01-2020, 07:02 PM
Wid_Conroy Wid_Conroy is offline
Wid
Member
 
Join Date: Aug 2020
Location: New York, NY
Posts: 235
Default

Given Nat's background in technology integration, I expect his vision includes greatly reducing the human discretion element in card grading.

Steve Cohen's involvement tells me that he possibly sees an angle for collectibles as an asset class...

Investment/Change in this business is necessary and welcome.

and, nice to know some heavy hitters do not believe we are in a bubble.
__________________
Bought From:
GrayGhost, Count76, mybuddyinc, banksfan14, boysblue, Sverteramo, rocuan, rootsearcher60, GoldenAge50s, pt7464, trdcrdkid, T206.org, bnorth

Collecting:
T206, 1933 Goudey, Ernie Banks base cards, Star Basketball..and, one by one I am adding HOF rookies from 50s-90s, MLB, NFL, NBA
Reply With Quote
  #46  
Old 01-20-2021, 08:48 AM
Peter_Spaeth's Avatar
Peter_Spaeth Peter_Spaeth is offline
Peter Spaeth
Member
 
Join Date: Apr 2009
Posts: 20,935
Default

In a stunning development, the merger agreement has been amended to increase the price from $75 per share to $92. Keep in mind CLCT traded as low as $15 or so earlier this year. What scandal?
__________________
My avatar is a sketch by my son who is an art school graduate. Some of his sketches and paintings are at www.jamesspaethart.com. He is available to do custom drawings in graphite, charcoal and other media.

Last edited by Peter_Spaeth; 01-20-2021 at 08:49 AM.
Reply With Quote
  #47  
Old 01-20-2021, 10:28 AM
sportscardpete's Avatar
sportscardpete sportscardpete is online now
Pete
Member
 
Join Date: Sep 2010
Location: New York
Posts: 1,096
Default

Quote:
Originally Posted by Peter_Spaeth View Post
In a stunning development, the merger agreement has been amended to increase the price from $75 per share to $92. Keep in mind CLCT traded as low as $15 or so earlier this year. What scandal?
They got a lot of push back on the $75 price. People were not happy.
__________________
www.thecreasedcorner.com

Looking for a Dietsche Cobb fielding
Reply With Quote
  #48  
Old 01-20-2021, 11:27 AM
Vintageismygame Vintageismygame is offline
Matt
Member
 
Join Date: Jul 2010
Location: Kansas
Posts: 413
Default

Quote:
Originally Posted by Peter_Spaeth View Post
In a stunning development, the merger agreement has been amended to increase the price from $75 per share to $92. Keep in mind CLCT traded as low as $15 or so earlier this year. What scandal?
That price jump from $75 to $92 just netted me another $46,000.00. Thanks Nat!
__________________
Collecting T206 Set 485/524

Successful transactions with: Wildfireschulte, bengineno9, Davids resale shop, dougcats, wcsportscards, Bryan Long, Moonlight Graham, sycks22, Set Builder, itjclarke, mybuddyinc x 2, Double-P-Enterprises, Michael McGuffin, sebie43, T2069bk, JollyRoger, LukeLyon x 2, drjdog5150, Beatles Guy, GehrigFan, piecesofthegame, AddieJoss, Marty, HOF Yankees, FrankWakefield, Tim Fritz, vcuono, T206blogcom, btcarfagno x 3, Bleedinblue, Tolstoi, brewing
Reply With Quote
  #49  
Old 01-20-2021, 12:13 PM
Johnny630 Johnny630 is offline
Johnny MaZilli
Member
 
Join Date: Nov 2015
Posts: 2,378
Default

It’s all about the Benjamin’s.....
Reply With Quote
  #50  
Old 02-22-2021, 05:25 PM
Steve D's Avatar
Steve D Steve D is offline
5t3v3...D4.w50n
Member
 
Join Date: Apr 2009
Location: Central Texas
Posts: 1,570
Default

CU's sale has apparently been finalized.

Interesting to note that one of the investors in CU/PSA, is The Chernin Group, who also just bought Goldin Auctions. So now, they're going to be involved in running both the card grader, and the card seller/auctioneer. Conflict of Interest?????

Steve


https://www.sportscollectorsdaily.co...R9JM4oU_e_5ao8
__________________
Successful BST deals with eliotdeutsch, gonzo, jimivintage, Leon, lharris3600, Mrc32, sb1, seablaster, shammus, veloce.

Current Wantlist:
1909 Obak Howard (Los Angeles) (no frame on back)
Reply With Quote
Reply



Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On

Forum Jump

Similar Threads
Thread Thread Starter Forum Replies Last Post
CLCT Board of Directors Peter_Spaeth Net54baseball Vintage (WWII & Older) Baseball Cards & New Member Introductions 8 08-01-2019 04:26 PM
CLCT stock down 9.13% today chalupacollects Net54baseball Vintage (WWII & Older) Baseball Cards & New Member Introductions 53 06-04-2019 10:25 PM
Does anyone invest in/follow CLCT stock? ullmandds WaterCooler Talk- Off Topics 16 02-11-2018 02:31 AM
Looking for Help: Private Messages clydepepper Net54baseball Vintage (WWII & Older) Baseball Cards & New Member Introductions 6 01-25-2017 10:42 AM
CLCT Financial Results Archive Net54baseball Vintage (WWII & Older) Baseball Cards & New Member Introductions 0 10-02-2008 01:21 PM


All times are GMT -6. The time now is 07:18 AM.


ebay GSB