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  #31  
Unread March 31st, 2011, 04:07 PM
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Originally Posted by Hot Head View Post
-Invalid Credits
what comment should I put under the account for that type of credit?
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  #32  
Unread March 31st, 2011, 04:11 PM
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Originally Posted by bbemp_can View Post
I totally agree with you about the whole uncertainty factor. I seem to remember what happened to Movie Gallery- it said in their bankruptcy filing that it didn't include their Canadian operations - and then 2 months later they all closed up here
Canada always behind the U.S.
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Even the Devil, which is the main share holder of blockbuster is saying you guys are making me look bad!

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  #33  
Unread March 31st, 2011, 05:53 PM
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Quote:
Originally Posted by BBStoreMgr112233 View Post
If you can find the time, could you provide some specific examples of where BBI has fudged their books and shown lack of scrupulous business practices?
So, you're not new here.... that means you just must not be paying attention.

1 - screwing employees out of earned bonuses (except in California, because the Governator won't stand for such antics)

2 - total and complete disregard for GAAP, such as:

a- counting unrealised income (unpaid late fees) as revenue, and then

b- when someone writes off these late fees in the interest of customer service, counting it as a payout/credit against the store revenue

3 - the entire EOLF fiasco, starting with the fact that they aren't really late fees, and BBI insisted on calling them what they really are (any variant of re-rental fees), until they did away with them (only they didn't, because they were called "restocking fees" afterwards), which only lasted until they reinstated them, at which point they weren't late fees anymore, but back to EVFs

4 - lying in court documents on how much was owed creditors (the in-no-way-related-to-reality "cure" amounts)

5- collusion with some of the major studios to implement terms (revenue sharing) that were not available to anyone else in the industry (commonly referred to as "restraint of trade")

6- failure to pay those greatly reduced rates to those very same studios

7- calling a 2-day rental a 3-day rental, or a weekly rental an 8-day rental (here's a quarter, buy a clue.... THE DAY YOU RENT THE MOVIE DOESN'T COUNT AS A DAY).... because if they did EVERYTHING that way, those of you working a 5-9 shift would get paid for FIVE hours.

Do I really need to go on here, or is this starting to ring a bell for you?
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The Following 2 Users Say Thank You to OzMan For This Useful Post:
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  #34  
Unread March 31st, 2011, 07:06 PM
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Originally Posted by Hot Head View Post
Canada always behind the U.S.
At least the Canadian stores are profitable
  #35  
Unread March 31st, 2011, 07:08 PM
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Quote:
Originally Posted by bbemp_can View Post
I totally agree with you about the whole uncertainty factor. I seem to remember what happened to Movie Gallery- it said in their bankruptcy filing that it didn't include their Canadian operations - and then 2 months later they all closed up here

I think it would be a shame if we closed. I too love my job. We still make money and are debt free (or so I've been told anyways). I actually think we may have a shot at the kiosk/online/onDemad thing as it's really not that prevalent here yet.

I guess we'll just have to wait and see what happens over the next few weeks
Blockbuster owes the studios approximately $100 million and the judge told the studios to use the Canadian Stores that they pledged as collateral for that $100 million.

Does Blockbuster Canada have a spare $100 million sitting in their bank account?
  #36  
Unread March 31st, 2011, 08:41 PM
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Quote:
Originally Posted by OzMan View Post
So, you're not new here.... that means you just must not be paying attention.

1 - screwing employees out of earned bonuses (except in California, because the Governator won't stand for such antics)

2 - total and complete disregard for GAAP, such as:

a- counting unrealised income (unpaid late fees) as revenue, and then

b- when someone writes off these late fees in the interest of customer service, counting it as a payout/credit against the store revenue

3 - the entire EOLF fiasco, starting with the fact that they aren't really late fees, and BBI insisted on calling them what they really are (any variant of re-rental fees), until they did away with them (only they didn't, because they were called "restocking fees" afterwards), which only lasted until they reinstated them, at which point they weren't late fees anymore, but back to EVFs

4 - lying in court documents on how much was owed creditors (the in-no-way-related-to-reality "cure" amounts)

5- collusion with some of the major studios to implement terms (revenue sharing) that were not available to anyone else in the industry (commonly referred to as "restraint of trade")

6- failure to pay those greatly reduced rates to those very same studios

7- calling a 2-day rental a 3-day rental, or a weekly rental an 8-day rental (here's a quarter, buy a clue.... THE DAY YOU RENT THE MOVIE DOESN'T COUNT AS A DAY).... because if they did EVERYTHING that way, those of you working a 5-9 shift would get paid for FIVE hours.

Do I really need to go on here, or is this starting to ring a bell for you?
Hey BBStoreMgr112233...
OZMAN JUST PUNKED YOU LIKE A BIZZATCH!!!!
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  #37  
Unread March 31st, 2011, 09:04 PM
psycoma psycoma is offline
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Quote:
Originally Posted by OzMan View Post

Do I really need to go on here, or is this starting to ring a bell for you?
Thanks Oz for putting it much more succinctly than I could have. I would think given my original statement that in just 1 month's time, over $16 million in claims have been filed (and that isn't even counting all the cure amount objections that have popped up in the last couple of days) by various gov't agencies, landlords and vendors that would point enough of a finger about a lack of fiscal honesty with regard to this company's practices. But then again, sometimes maybe not lol.
  #38  
Unread March 31st, 2011, 09:52 PM
BBStoreMgr112233 BBStoreMgr112233 is offline
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Quote:
Originally Posted by psycoma View Post
Thanks Oz for putting it much more succinctly than I could have. I would think given my original statement that in just 1 month's time, over $16 million in claims have been filed (and that isn't even counting all the cure amount objections that have popped up in the last couple of days) by various gov't agencies, landlords and vendors that would point enough of a finger about a lack of fiscal honesty with regard to this company's practices. But then again, sometimes maybe not lol.
How does that "point enough of a finger about lack of fiscal honesty"? Is what they owe not stated in their accounts payable? The company is in bankruptcy because it can't pay its bills. DUH! The fact the company owes more money that what it has supports nothing but the facts of why they are in BK.

If you are going to do nothing but talk out your ass while you join the bandwagon just stick to thanking people for THEIR posts and points since you can't validate your own.
  #39  
Unread March 31st, 2011, 10:16 PM
psycoma psycoma is offline
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Quote:
Originally Posted by BBStoreMgr112233 View Post
How does that "point enough of a finger about lack of fiscal honesty"? Is what they owe not stated in their accounts payable? The company is in bankruptcy because it can't pay its bills. DUH! The fact the company owes more money that what it has supports nothing but the facts of why they are in BK.

If you are going to do nothing but talk out your ass while you join the bandwagon just stick to thanking people for THEIR posts and points since you can't validate your own.
Uh, actually no douchebag, it is NOT stated in their accounts payable. At least not fully, completely, accurately, and honestly. I counted no fewer than 60 objections filed MARCH 31st ALONE indicating that what Blockbuster claims is a 'cure' amount under designated contracts for Assumption and Assignment are INCORRECT.

I realize that they cannot pay their bills and that is why they are in Bankruptcy. I can also read and my comprehension is right up there with yours, mister smarty man. And when a company like ADT files an objection based upon the fact that the cure amount that Blockbuster lists for them is roughly $400 and ADT asserts that the ACTUAL cure amount is closer to $200,000, well that is quite the discrepancy, wouldn't you say?? Blockbuster is LYING about what they owe, what their debt is. THAT is what is screaming dishonesty at me.

I still don't like the idea of flipping you off and telling you to sit and spin because while you may think your shit don't stink, I can assure you it does. So I'll just tell you to go fuck yourself, but of course, have a nice day.
  #40  
Unread March 31st, 2011, 10:20 PM
psycoma psycoma is offline
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from court document 1342...just in case there's any more confusion on your part Mr. 123repeating, I took it right from the court document instead of linking or siting some poorly written article with a prejudicial media bias...

The Designated Contract Schedule lists the “Master Service Agreement and All
Supporting Amendments - Contract Start Date: 11/13/2009” (the “ADT Contract”) by and between ADT
and the Debtors with an alleged cure amount of $455.29. See Designated Contract Schedule, Page 2 at
I.D. #25.
5. Prior to and since the Petition Date, ADT has provided services to the Debtors pursuant
to the ADT Contract.
6. As of March 31, 2011, ADT’s books and records reflect an outstanding balance under the
ADT Contract of $221,222.07, which amount includes both prepetition and postpetition outstanding
balances. See Summary of Open Invoices attached hereto.
 

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