New Atari Console that Ataribox?

[+frankodragon]

 

Positively Septic.

[JBerel]

 

Eye Direction: A number of studies talk about the direction of eyes during lies.

Typically, when people look up and to the right, they are lying or tapping into their imagination.

When they look up and to the left, they are remembering or recalling something, tapping into the memory part of the brain.

[Flojomojo]

[Hannacek]

Companies are very dumb. They want money so bad, that they'll do things which actually put themselves in debt and destroy their brand names, thinking they'll achieve the opposite effect. No thought process behind their plans whatsoever.

 

Companies are very smart. They want to survive so bad, that they'll put themselves in debt and to their brand names. Then they'll pay off most their debts, but not all of them. Having a certain amount of debt is good for taxes...somehow.

 

Honestly, business is just gambling. Except you have to calculate the odds yourself with incomplete data. Infogrames' leaders were bad at running a big company. Not surprising they're bad at running a small company.

 

Toys R Us is the most recent example of companies not caring about debt. The executives will rake in as much money as they can, who cares if the company goes bankrupt, because they will get huge bonuses during the bankruptcy. It happens every times a big company goes bankrupt, the executives get huge bonuses. Then the executives get big high paying jobs at other companies, because they succeeded in the only thing that matters, making money for the executives in the short term.

[Lodmot]

Companies are very dumb. They want money so bad, that they'll do things which actually put themselves in debt and destroy their brand names, thinking they'll achieve the opposite effect. No thought process behind their plans whatsoever.

 

 

Toys R Us is the most recent example of companies not caring about debt. The executives will rake in as much money as they can, who cares if the company goes bankrupt, because they will get huge bonuses during the bankruptcy. It happens every times a big company goes bankrupt, the executives get huge bonuses. Then the executives get big high paying jobs at other companies, because they succeeded in the only thing that matters, making money for the executives in the short term.

 

That doesn't even make sense though. O.o

If they're bankrupt, how are they able to afford paying the employees bonuses, etc? xD

Seems kinda contradictory/counterintuitive to me.

[ColecoJoe]

 

That doesn't even make sense though. O.o

If they're bankrupt, how are they able to afford paying the employees bonuses, etc? xD

Seems kinda contradictory/counterintuitive to me.

When a company goes bankrupt it doesn't mean they don't have any money, they just don't want to use that money to pay their debts off or it's not enough so bankruptcy is an "easy" out for them. It's not like when you or I go bankrupt.

[Hannacek]

 

That doesn't even make sense though. O.o

If they're bankrupt, how are they able to afford paying the employees bonuses, etc? xD

Seems kinda contradictory/counterintuitive to me.

 

Bankruptcy is a legal process. The executives get paid bonuses first, then the creditors get paid whatever is left over. The employees get nothing. There is never anything left to pay the employees, because if there was they would have not declared bankruptcy, stayed open and ran the business as usual. The employees get nothing. They can apply for a job at the Spirit Halloween and Toy City stores that are where the Toys R Us they worked at was.

 

It would be the same as the Atari Box people taking the $3 million Indigogo money and giving it to themselves as bonuses, and saying they have no money left to make the console for the crowdfunding backers.

Edited November 14, 2018 by Hannacek

[Matt_B]

Yeah, most businesses run on credit. Even if they've got a net positive balance sheet, they've probably got most of their assets in forms that can't be liquidated. In the case of Atari, it's almost all going to be IP, and they can use that as collateral for cash loans.

 

So, if they know they're going to the wall, they'll just pay themselves huge bonuses out of the borrowed money, declare bankruptcy, and leave the creditors to fight over the assets. They'll auction what's left off to cover their loans, and if there's anything after that it can be distributed to the shareholders.

 

In order to protect employees some states require companies to keep a bond that'll be enough to pay out their contracted notice periods, but such provisions are far from universal.

 

Customers and suppliers are totally stuffed though. I remember one of my nephews asking for Toys R Us gift vouchers for Christmas just before they went under. It told him and his parents why that wasn't a good idea.

[Lodmot]

............ Ah........... well then............. o u o

[OCAT]

Bankruptcy is just a term for "Exects in suits stealing merchandise from suppliers"

Sears has millions upon millions of dollars of Whirlpool appliances, the only reason they are going to get the stuff back is because a clause just before bankruptcy says that if the supplier can definitively identify the products shipped and not paid for, they can take it back. Little guys suffer because Sears just steals the stuff, this is why suppliers learned after the Toys R Us bankrobbery that they demand payment for the goods on delivery. Toys R Us knew they were going to file for liquidation and still ordered more stuff so they can legally steal and sell it off.

 

"On Thursday, the Michigan-based appliance giant fired off a letter to Sears, demanding that the retailer return all refrigerators, washing machines, dishwashers and other appliances that Whirlpool shipped to it in the 45 days leading up to Searss Oct. 15 bankruptcy filing.

 

Whirlpool argued that Sears was insolvent when it ordered the goods and therefore has no legal right to them."

 

And not just appliances, Jewelry watches... CEO is no better than a cat burglar, they both wear black and are thieves

Edited November 15, 2018 by OCAT

[Lodmot]

Bankruptcy is just a term for "Exects in suits stealing merchandise from suppliers"

Sears has millions upon millions of dollars of Whirlpool appliances, the only reason they are going to get the stuff back is because a clause just before bankruptcy says that if the supplier can definitively identify the products shipped and not paid for, they can take it back. Little guys suffer because Sears just steals the stuff, this is why suppliers learned after the Toys R Us bankrobbery that they demand payment for the goods on delivery. Toys R Us knew they were going to file for liquidation and still ordered more stuff so they can legally steal and sell it off.

 

"On Thursday, the Michigan-based appliance giant fired off a letter to Sears, demanding that the retailer return all refrigerators, washing machines, dishwashers and other appliances that Whirlpool shipped to it in the 45 days leading up to Searss Oct. 15 bankruptcy filing.

 

Whirlpool argued that Sears was insolvent when it ordered the goods and therefore has no legal right to them."

 

And not just appliances, Jewelry watches... CEO is no better than a cat burglar, they both wear black and are thieves

 

Man, when you hear things like that, it makes you want to stab humankind in the face. Lol.

(sorry, had a bad day at work xD)

[Spriggy]

I was just reading about the slang term "seppo," short for septic tank, rhymes with Yank, used to disparage Americans. https://www.urbandictionary.com/define.php?term=Seppo

 

Ohhh. Forgot about that term Haven't heard it in years. Now I'm just waiting for the mob to turn up at my door!

 

[Lodmot]

Hey, wasn't the VCS campaign at like around $3,010,000 earlier? o.o

Looks like they lost a chunk of money.

[Spriggy]

Hey, wasn't the VCS campaign at like around $3,010,000 earlier? o.o

Looks like they lost a chunk of money.

 

Mmm. Does indietaco have a hidden fund tracking graph at all or other data we can analyse to verify this? Does not appear so.

[Spriggy]

Maybe development will continue on the island? Bamboo Grain VCS anyone?

 

 

[Lodmot]

Maybe development will continue on the island? Bamboo Grain VCS anyone?

 

atarissminnow.jpg

 

 

Well, I'm glad they at least made it safely. o u o

[+frankodragon]

[JBerel]

New York Post-The New Jersey couple who raised hundreds of thousands of dollars in a viral charity campaign for a homeless man were allegedly working with the vagrant as part of an elaborate ruse, according to a new report.

 

Prosecutors believe that Mark D’Amico and Kate McClure conspired with homeless man Johnny Bobbitt to create their get-rich-quick scheme in 2017, NBC’s Philadelphia affiliate reported Wednesday.

 

The couple turned themselves in to authorities on Wednesday, but Bobbitt was still at large, the news station said.

 

According a source who spoke to the news outlet, which said it had a copy of a criminal complaint, all three are expected to face charges of conspiracy and theft by deception for working together to create the ruse.

Theft by deception, working with a vagrant, conning people out of money with a weak hoax. Hmmmmmmm.

[Lodmot]

Just stumbled across the Indiegogo page that was left open on my work computer this morning, and I wasn't just seeing things -- the campaign was at $3,011,857 before. When I refreshed the page it went down to $3,002,786.

[MrBeefy]

Just stumbled across the Indiegogo page that was left open on my work computer this morning, and I wasn't just seeing things -- the campaign was at $3,011,857 before. When I refreshed the page it went down to $3,002,786.

Maybe from the accidental double orders?

[+frankodragon]

That or some people realized that the whole thing was a scam to begin with.

[The Historian]

@The Historian - since you're here and helping Feargal Mac with Gameband, can you give any information about the status of the Gameband?

 

Haven't talked to him in a while. I'm a backer too.

[Lodmot]

That or some people realized that the whole thing was a scam to begin with.

 

That makes me wonder actually... if you make a purchase after the campaign ends, are you able to refund after that? o w o

[Flojomojo]

That makes me wonder actually... if you make a purchase after the campaign ends, are you able to refund after that? o w o

 

You have ten days from when you foolishly give money for a product that isn't ready. In what universe is throwing money down a hole, with no guarantee of getting anything in return, including a refund, anything OTHER than a scam? It's only a matter of time until regulators catch up with these frauds. https://www.ftc.gov/about-ftc/foia/frequently-requested-records/crowdfunding

 

https://support.indiegogo.com/hc/en-us/articles/526876

 

For campaigns in InDemand, backers can request a refund from Indiegogo within 10 days of the transaction provided the InDemand page is live, the perk has not been fulfilled, and the funds have not been disbursed to the campaigner.

 

I get that it costs IGG money to process transactions in and out, they don't want the Lodmots of the world waffling back and forth all the time. But what's up with 10 days? I don't understand the logic behind that number.

[Flojomojo]

Haven't talked to him in a while. I'm a backer too.

 

Hark! What's that sound? IT'S A COMMUNITY IN NEED OF MANAGING

https://www.kickstarter.com/projects/gameband/gameband-the-first-smartwatch-for-gamers/comments