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Vince McMahon Retires


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12 minutes ago, J.T. said:

You are seriously asking another dude how he feels about leather?   You'll need to buy me dinner and a movie before I answer that question.

Have you ever been in a Turkish prison?

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3 hours ago, (BP) said:

We all thought Triple H was Rocky in Rocky V, but he’s actually in the middle of Rocky III and he’s going to try to crush Clubber Khan.

This is the sort of current pop culture reference that Vince built his empire on. 

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15 minutes ago, piranesi said:

This is the sort of current pop culture reference that Vince built his empire on. 

I didn’t make a lifelong mistake framing my view of the world through pop culture references from forty years ago, it’s the children who are wrong 

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I don't see Gabe getting re-hired. That dude has fucked up too many times in wrestling. Shit, I'd bet you'd see Court Bauer back in WWE before Gabe and that's with Court having that lawsuit. Road Dogg, yes. Michael Hayes probably stays. Maybe Jimmy Jacobs gets re-hired. Ed Koskey, who knows. Bruce probably sticks around 6 months to a year to just maintain continuity until Steph gets tired of his shit and fires him. Or Bruce pulls a gun again. Anything can happen in WWE!

Honestly, they would maybe be wise to complete re-shuffle the road agents too.

 

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Tony Khan needs to outsmart HHH again and then hire a creative team of Freddie Prinze Jr. and Stephen Amell. It might not be better. It might not be worse. But it'd be new. 

Recycling the same people through these roles is pointless. 

Or I could be wrong and HHH books the shows by reusing angles from the late '70s and early '80s almost line for line. But I'm probably not wrong. 

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I never expected Dunn to be an immediate firing. Maybe an immediate resignation if he decides he wants to "screw them", but I think he's just too entrenched in the production process to just toss him without a replacement set up. It'd be different if they were seasonal instead of weekly.

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39 minutes ago, John from Cincinnati said:

Clarifying the Dunn news, Keller says it's unlikely he'll be with the company "a year from now." So don't pop the champagne just yet. 

The state of clickbait headlines and online journalism.  "Reportedly expected."  You can just make up a source and write the whole story yourself with verbiage like that.

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The SEC filing is wild for a few reasons. 

1) Basically, the WWE is admitting it lied to investors over many years. The company paid out the NDAs itself. And while $14 million isn't a gigantic sum of money over the course of 15 years (the doc says it goes from 2006 to 2015), it's still significant. I'll get into some of that later. And because they lied, they have to go back into what they disclosed to investors over time and redo the math considering what 

Also, the release says that Vince is going to pay back the WWE the $14.6 million to fix those payments.

2) Lying to investors is bad. That's why this next sentence that's bolded is really important if no one in the wrestling "media" writing about this wants to crib:
The Company has also received, and may receive in the future, regulatory, investigative and enforcement inquiries, subpoenas or demands arising from, related to, or in connection with these matters.

This reads to me that the SEC has already contacted them about how badly they lied to investors, and is probably going to continue to do so in the future.

3) So this was not the only news in what the WWE reported publicly. The Vince disclosure was just a small part of what's called an 8-K, which is a filing you have to make to the general public for a "material event" -- like big company news. And "we lied about how much money we made because the CEO of the company paid women $14+ million in hush money payments and he's paying the money back and he also quit and we have a whole bunch of new executives" is certainly a material event. It's a whole bunch of material events that they released all at once.

The "we lied to investors" part of the announcement is just a really small part of the release. The rest of the release (both in what they filed publicly and in a press release) is a preliminary report of how much money they made during the past three months.

I bolded that because it's really important. I'm going to get a little wonky right now.

Every quarter, a company that sells its shares to the general public has to file what is called a 10-Q, which is an official statement of how much money it made/didn't made and a lot of other metrics that show some of the reasons why this occurred in different accounting terms. Sometimes there will be a clearer explanation in written words that explain the reasons why. And they're always followed with a phone call where analysts from big investment firms who give recommendations on whether to buy the stock or not can ask questions to the CEO/Chief Financial Officer/a few other executives about why results turned out they way they did and what the company is planning on doing in the future. 

What the WWE filed today IS NOT THAT.

They filed a preliminary report. Basically, companies are allowed to give the world a head's up if they think they've done really well the past few months. The reason why is because that can make the share price higher. And you can't lie about the numbers because if you do you'll get in a huge amount of trouble. Some companies do this a lot. Some companies don't do it at all. But companies aren't really going to release bad financial news.

And these get released via an 8-K.

I don't have time to go back and read every press release or 8-K from the WWE. But just doing a Google search - they release preliminary results infrequently. It's usually tied into whenever they release really big news (like signing a deal with Peacock, etc.) because that's something they want investors to know to piggie back on top of the big news event.

So, why did they release preliminary results today?

Well, it very much appears they are doing to to give investors good news on top of the whole "we lied to you" thing. Because huge investors with giant sums of money can shake of having to do some accounting work for $14 million, which is not a significant amount of money for a company that generates hundreds of millions in revenue (how much money you take in before you pay expenses) a quarter. It's a big friggin' deal because you don't want the SEC to ever come at you with a subpoena. But in terms of money, it's nothing. Enron became a household name because they had to go back and change earnings statements for billions of dollars, for comparison. 

But the company saying "HEY! WE HAVE AWESOME NEWS! There's some really bad news, BUT WE HAVE AWESOME NEWS!" explains why the WWE's stock price is up by 8% or so today. That, and from what we all know is on the table, the company could be sold now. Investors want to own those stocks when they do because they'll likely make money. 

 

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8 minutes ago, SirSmellingtonofCascadia said:

Tony Khan needs to outsmart HHH again and then hire a creative team of Freddie Prinze Jr. and Stephen Amell.

If Prinze's interpretation of events on his podcast is correct, HHH hates him.

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1 hour ago, Blue Dragon said:

Nick Khan could honor Kevin Dunns "job for life" mission Vince granted Dunn.

 

Getting closer to realizing my idea of filming all JAS segments in full Dunn mode with shaky cams, rapid cuts, vomit-inducing zooms and awkwardly phrased forced commentary

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4 minutes ago, For Great Justice said:

Getting closer to realizing my idea of filming all JAS segments in full Dunn mode with shaky cams, rapid cuts, vomit-inducing zooms and awkwardly phrased forced commentary

Or imagine Dunn and UFC together. Wow.

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6 hours ago, EVA said:

Now that they’ve got it, what’s going to be doubly funny is when Steph and HHH prove Vince right and just run this motherfucker into the ground.

CCBB7468-2-BBD-450-B-BF3-B-887206-E62-AF 
 

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