|From:||shadowrn@*********.com (Drew Curtis)|
|Subject:||FASA shutdown is weird|
|Date:||Mon Jan 29 09:55:01 2001|
I'd post to the list.
I've owned my own business for five years and have extensive experience
in negotiations and acquisitions. I've been through three separate
buyouts/mergers in the past two years. Two failed, one succeeded.
The way FASA is shutting down gives some clues as to what's going on
behind the scenes. The first and largest clue is they didn't file for
bankruptcy. What this tells me is that FASA wasn't running a huge
deficit. Or even a small one. The only reason I can think of to do a
shutdown this way is to be able to divvy up whatever assets are left
amongst shareholders after all other debts are paid.
I've done this myself just once. We had a consulting company attached to
my internet company for a few years that we closed down. We didn't file
Chapter 11 because once all the debts were paid there was going to be
money still left in the account. Which we divided up and closed the
Where I'm going with this is that based on the above speculation I can
think of only two reasons why FASA is being shut down.
1) FASA wasn't in debt but looked like it was heading that way
2) The owner(s) just got tired of running the company and decided to
As I understand it, the head guy at FASA has a background in publishing,
not roleplaying games. I'd lean towards #2 if I had to take a guess at
what happened. #1 is a fairly extreme action, as you can run a company
for years not making any money if you really want to keep the lights on.
Especially one in business for 20 years, which shouldn't have any trouble
securing additional financing in either senior debt, mezzanine debt, or
To sum up: I think the owner is interested in pulling his money out of
FASA and putting it elsewhere.
Drew Curtis President DCR.NET (502)226-3376 Toll Free: (866)4DCRNET
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