Interesting update to what I wrote yesterday. I stopped at Micheal's today to pick up a frame and there, right in the front of the store----Martha's items on clearance! Since she only has a 6 month exclusive at Micheal's before the items are available to the independent scrap and stamps stores come October (and Wal-Mart I am sure) Micheal's may be cutting their losses.
I was wondering if MS received monetary compensation or stock for her co-named products with Ek Success. I found this statement at a financial site posted in January 2006. ""Terms of the deal include a licensing agreement, as well as an equity stake in the venture, the value of which is contingent on certain performance thresholds."" I wonder if she got anything up front or will the company wait and see if the line is at all successful.
EK Success is owned by a private equity firm named GTCR Golder Rauner LLC. so Martha may be paid with stake issues of this company. Micheal's recently was purchased by another private equity firmed named Blackstone, which last week had 12 % of its stake go public in an IPO. Unfortunately, I cannot find if MS owns any of these stakes or shares without purchasing and becoming a "member". But based on MS filing before her jail term, she isn't a wise investor as many of her stocks were money losers or bankrupt companies. Martha's investments
I will leave it at this-I used to own stock in Micheal's as part of my retirement fund. When it was purchased by Blackstone in October 2006, I was saddened as this stock was one of the few that weathered the whole crash after September 11 and I thought it would be good to have down the road into my old age. I had no choice in the sale to Blackstones (I voted no but I am only one person) and paid a hefty tax when they gave me my cash for my shares. I have since put what was left into a socially responsible fund. But knowing what I know about Micheal's now-I am glad I no longer am an investor in the company and find myself shopping rarely at the stores anymore.
I will post another card later tonight-I may even find time to stamp a few for later. Maybe stamping will make it rain-its so dry here!
I was wondering if MS received monetary compensation or stock for her co-named products with Ek Success. I found this statement at a financial site posted in January 2006. ""Terms of the deal include a licensing agreement, as well as an equity stake in the venture, the value of which is contingent on certain performance thresholds."" I wonder if she got anything up front or will the company wait and see if the line is at all successful.
EK Success is owned by a private equity firm named GTCR Golder Rauner LLC. so Martha may be paid with stake issues of this company. Micheal's recently was purchased by another private equity firmed named Blackstone, which last week had 12 % of its stake go public in an IPO. Unfortunately, I cannot find if MS owns any of these stakes or shares without purchasing and becoming a "member". But based on MS filing before her jail term, she isn't a wise investor as many of her stocks were money losers or bankrupt companies. Martha's investments
I will leave it at this-I used to own stock in Micheal's as part of my retirement fund. When it was purchased by Blackstone in October 2006, I was saddened as this stock was one of the few that weathered the whole crash after September 11 and I thought it would be good to have down the road into my old age. I had no choice in the sale to Blackstones (I voted no but I am only one person) and paid a hefty tax when they gave me my cash for my shares. I have since put what was left into a socially responsible fund. But knowing what I know about Micheal's now-I am glad I no longer am an investor in the company and find myself shopping rarely at the stores anymore.
I will post another card later tonight-I may even find time to stamp a few for later. Maybe stamping will make it rain-its so dry here!
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