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Old 12-17-2008, 10:43 AM #1
Jester1
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Bankruptcy filing details, wow!

PB Reserve has obtained a copy of the NPPL bankruptcy filing. Worth a look, no wonder they went under! Look at the some of the details. They were paying out alot f money in salaries and expenses. Here's some items I pulled out:

Assets: $416k
Liabilities: $1.16 million

In the bank: $2,000
Owned: trucks, trailers ($36k) Office equip ($45k), turf/santa clara PB ($225k)


Owed:
December pay 15 people: Severance, December 1 pay, vacation: $79,000
Consultant: $6300
Workman's comp defecit: $14,000
Cell phones for a month: $2700
Legal services 2007-2008: $166,000
Insurance Premium: $6,500
Rent: $11,000
Accounting for October: $8,000
Scott Pierce contact termination payout: $225,000 (CEO)
Bruce Friedman expenses (Chairman) $39,000
Loan Payment for purchase of NPPL??: $501,000
Advertising commission/retainer: $17,000

If I read right, page 49 says Shawn made $15k month and Scott made $24k per month. Add that to all the salaries listed around page 30 and no wonder they went bankrupt!
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Old 12-17-2008, 02:45 PM #2
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wow, I am in the wrong business. I wish I got paid a monthly salary like that.

How many cell phones do they have?
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Old 12-17-2008, 03:07 PM #3
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My salary is 48k a month.

But that's in Hong Kong dollars, not US Dollars.
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Old 12-17-2008, 03:11 PM #4
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we need a players union. we need to have a say in what the leagues do.
this is our sport being run on our moneyand I think anyone who invested time and money in the future of torunament paintball should be PISSED
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Old 12-17-2008, 11:23 PM #5
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damn shawn walker should be call da b-itches since he gets all de b-itches making 15k a month!
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Old 12-17-2008, 11:33 PM #6
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Old 12-20-2008, 05:20 PM #7
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Quote:
Originally Posted by captainspaulding View Post
we need a players union. we need to have a say in what the leagues do.
this is our sport being run on our moneyand I think anyone who invested time and money in the future of torunament paintball should be PISSED
You do know that is how the 'pro' leagues started dont you?? The 'pros' were not happy with the status quo, so they started thier won league. And you see where we ended up. It all eventually boils down to the almighty dollar, and who can lay thier hands on the most of it.
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Old 12-21-2008, 12:10 AM #8
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ok so the CEO of a failed company gets 225k for contract termination??? WTF!!!! so you are the head of a company, and it fails, ultimately you are the go to guy for everything, and everything is supposedly under your control. it is your JOB to make sure the company works. part of that contract should have said, if you fail, you get nothing. not if the company goes under before your contract is up, it owes to a boat load of money. and we wonder why the economy is in the toilet. this is a horrible way to do business, and most of your major companies are doing the same. big bonuses for ceo's of airlines/automakers/banks etc that are losing money. NO!!!! bonuses are supposed to be just that. perks for doing a job well. and if ur company is losing money, you arent doing your job well.
/rant
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Old 12-21-2008, 12:37 AM #9
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Old 12-21-2008, 12:38 AM #10
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Quote:
Originally Posted by Warparty View Post
You do know that is how the 'pro' leagues started dont you?? The 'pros' were not happy with the status quo, so they started thier won league. And you see where we ended up. It all eventually boils down to the almighty dollar, and who can lay thier hands on the most of it.
Actually, it all boiled down to lazy players who stopped doing anything and let the organization become defunct.

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