Comments on: Buckle Your Seatbelt http://www.scrapyardarmory.com/2010/03/16/buckle-your-seatbelt/ A BattleTech weblog Wed, 01 Feb 2012 01:59:00 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: James http://www.scrapyardarmory.com/2010/03/16/buckle-your-seatbelt/comment-page-1/#comment-3533 James Thu, 18 Mar 2010 16:35:22 +0000 http://www.scrapyardarmory.com/?p=2580#comment-3533 this sounds like a classic small business owner mistake, when you finance your company out of your OWN savings and not open a bank account under the company name. I don't care the amount, I don't care WHO did it, and I don't want to hear the doom and gloom. I have played Battletech for 20 of the total 25 years the game has existed (hard to believe I was seven...) the game has been through three companies, a period of silence, and has grown to unimaginable proportions of awesome under CGLs care. Catalyst is a privately held company, and therefor the details of their cash flow issues (and that is what this is, a cash flow issue, not equity) are not fore public consumption. Catalyst has plenty of options while they wait to recoup from the owners screw-up. there are Short Term loans, Commercial paper and Promissory notes, Revolving credit agreements, etc. Meanwhile the owner responsible for this cash flow hiccup will probably (and justly) be sidelined, and turned into a silent partner, providing equity, his "owner with holdings" (that which allows a business owner to maintain lifestyle) cut back to permit the repayment and silently encouraged to seek fortunes elsewhere. I would not be surprised if this all happened months ago and a significant portion of the damage has already been repaired. my personal theory is that the cash flow issue that lead to the 8 month delay of Strat Ops was the symptom that lead to the review. this sounds like a classic small business owner mistake, when you finance your company out of your OWN savings and not open a bank account under the company name.

I don’t care the amount, I don’t care WHO did it, and I don’t want to hear the doom and gloom. I have played Battletech for 20 of the total 25 years the game has existed (hard to believe I was seven…) the game has been through three companies, a period of silence, and has grown to unimaginable proportions of awesome under CGLs care.

Catalyst is a privately held company, and therefor the details of their cash flow issues (and that is what this is, a cash flow issue, not equity) are not fore public consumption. Catalyst has plenty of options while they wait to recoup from the owners screw-up. there are Short Term loans, Commercial paper and Promissory notes, Revolving credit agreements, etc.

Meanwhile the owner responsible for this cash flow hiccup will probably (and justly) be sidelined, and turned into a silent partner, providing equity, his “owner with holdings” (that which allows a business owner to maintain lifestyle) cut back to permit the repayment and silently encouraged to seek fortunes elsewhere. I would not be surprised if this all happened months ago and a significant portion of the damage has already been repaired.

my personal theory is that the cash flow issue that lead to the 8 month delay of Strat Ops was the symptom that lead to the review.

]]> By: Drama | Flechs http://www.scrapyardarmory.com/2010/03/16/buckle-your-seatbelt/comment-page-1/#comment-3532 Drama | Flechs Thu, 18 Mar 2010 15:36:48 +0000 http://www.scrapyardarmory.com/?p=2580#comment-3532 [...] [originally seen on Scrapyard Armory] [...] [...] [originally seen on Scrapyard Armory] [...]

]]> By: Raven http://www.scrapyardarmory.com/2010/03/16/buckle-your-seatbelt/comment-page-1/#comment-3531 Raven Thu, 18 Mar 2010 02:37:49 +0000 http://www.scrapyardarmory.com/?p=2580#comment-3531 While I definetly feel saddened by the news, it does seem like (at least to me) that they do have new products being released. So hopefully we can get something in print soon as a sign that the company is still alive and kicking. While I definetly feel saddened by the news, it does seem like (at least to me) that they do have new products being released. So hopefully we can get something in print soon as a sign that the company is still alive and kicking.

]]> By: Brian http://www.scrapyardarmory.com/2010/03/16/buckle-your-seatbelt/comment-page-1/#comment-3530 Brian Thu, 18 Mar 2010 00:54:40 +0000 http://www.scrapyardarmory.com/?p=2580#comment-3530 Quigs, You are assuming a lot in your comments. We do not know the official dollar amount nor the specific individual involved. We have no facts on motives either. As more infomation is coming out I have more and more confidence that things are not as bad as the rumors would have us believe. Time will tell. Catalyst has come forward with the issue and is taking steps to make things right. The money will be paid back and the freelancers will be paid. The individual involved is cooperating. These are all good signs. Quigs,

You are assuming a lot in your comments. We do not know the official dollar amount nor the specific individual involved.

We have no facts on motives either.

As more infomation is coming out I have more and more confidence that things are not as bad as the rumors would have us believe. Time will tell. Catalyst has come forward with the issue and is taking steps to make things right. The money will be paid back and the freelancers will be paid. The individual involved is cooperating.

These are all good signs.

]]> By: skiltao http://www.scrapyardarmory.com/2010/03/16/buckle-your-seatbelt/comment-page-1/#comment-3529 skiltao Wed, 17 Mar 2010 22:14:18 +0000 http://www.scrapyardarmory.com/?p=2580#comment-3529 "Never ascribe to malice that which is adequately explained by incompetence." “Never ascribe to malice that which is adequately explained by incompetence.”

]]> By: Quigs http://www.scrapyardarmory.com/2010/03/16/buckle-your-seatbelt/comment-page-1/#comment-3528 Quigs Wed, 17 Mar 2010 19:45:59 +0000 http://www.scrapyardarmory.com/?p=2580#comment-3528 A misunderstanding? My ass. How many times have you found 850k in your account that you misunderstood as being yours? They're telling writers they can't pay them, and can't find the money to, while the owner pockets the cash they supposedly didnt have. Writers weren't leaving because of things looking optimistic, fair, and a simple mistake. A misunderstanding? My ass. How many times have you found 850k in your account that you misunderstood as being yours? They’re telling writers they can’t pay them, and can’t find the money to, while the owner pockets the cash they supposedly didnt have. Writers weren’t leaving because of things looking optimistic, fair, and a simple mistake.

]]> By: Brian http://www.scrapyardarmory.com/2010/03/16/buckle-your-seatbelt/comment-page-1/#comment-3527 Brian Wed, 17 Mar 2010 09:19:36 +0000 http://www.scrapyardarmory.com/?p=2580#comment-3527 I think it is important to keep in perspective that we do not know the full story behind this. The $850k number and the identity of the specific owner involved are still in the area of rumors and conjecture. What we do know is that Catalyst is not just rolling over and preemptively sticking daisies in the ground. From the press release, which is fact, this appears to be a misunderstanding which got out of hand. The parties involved have and are cooperating with the investigation and are working to make things right. We have every right and reason to be optimistic. I think it is important to keep in perspective that we do not know the full story behind this. The $850k number and the identity of the specific owner involved are still in the area of rumors and conjecture.

What we do know is that Catalyst is not just rolling over and preemptively sticking daisies in the ground.

From the press release, which is fact, this appears to be a misunderstanding which got out of hand. The parties involved have and are cooperating with the investigation and are working to make things right.

We have every right and reason to be optimistic.

]]> By: Quigs http://www.scrapyardarmory.com/2010/03/16/buckle-your-seatbelt/comment-page-1/#comment-3526 Quigs Wed, 17 Mar 2010 07:36:57 +0000 http://www.scrapyardarmory.com/?p=2580#comment-3526 Lol, nice. As per the official blog, it's been admitted to. "Somehow" 850k of operating funds got co-mingled with loren colemans personal account. Took A YEAR to find out that money they couldnt give to struggling writers was going to colemans house extension. What an asshole. Fuck Catalyst. Lol, nice. As per the official blog, it’s been admitted to. “Somehow” 850k of operating funds got co-mingled with loren colemans personal account. Took A YEAR to find out that money they couldnt give to struggling writers was going to colemans house extension. What an asshole. Fuck Catalyst.

]]> By: Steve Satak http://www.scrapyardarmory.com/2010/03/16/buckle-your-seatbelt/comment-page-1/#comment-3525 Steve Satak Wed, 17 Mar 2010 05:54:55 +0000 http://www.scrapyardarmory.com/?p=2580#comment-3525 The bookkeeper, the capital behind InMediaRes and the layout man have bailed. 850k is not exactly loose change - it is essentially their operating capital and it is gone. I don't think they will be renewing the license with Topps come summer. They can't afford it. Steve The bookkeeper, the capital behind InMediaRes and the layout man have bailed. 850k is not exactly loose change – it is essentially their operating capital and it is gone.

I don’t think they will be renewing the license with Topps come summer. They can’t afford it.

Steve

]]> By: Chgowiz http://www.scrapyardarmory.com/2010/03/16/buckle-your-seatbelt/comment-page-1/#comment-3524 Chgowiz Wed, 17 Mar 2010 03:13:59 +0000 http://www.scrapyardarmory.com/?p=2580#comment-3524 Wow. Regrettable. I'm glad I have the items I do have, if indeed the Battletech license is lost. Wow. Regrettable. I’m glad I have the items I do have, if indeed the Battletech license is lost.

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