Post by: JamesCube on February 08, 2007, 10:43:52 AM
If that's true, Barnes must be fuming because I do not think Ebonite will give him the same deal that Columbia threw at him. I do not know how companies deal with something like this when the company itself changes hands.
Post by: jkiser01 on February 08, 2007, 07:10:46 PM
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I think the great slump of 2006-2007 is finally coming to an end!!
Post by: strikenout on February 08, 2007, 07:53:34 PM
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BRUNSWICK THE KING OF BALLS
Post by: BirwinJR on February 08, 2007, 09:22:45 PM
Post by: BrooklynSlop on February 08, 2007, 09:40:44 PM
I'm sick of all the BS rumors floating around. Keep your mouth shut if you aren't speaking from the source.
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Trip-4 Bowling Supply
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Post by: scotts33 on February 08, 2007, 09:47:19 PM
quote:
They can't "drop" contracts. Contracts are agreements between two parties constituting a commitment on BOTH ENDS. They must fulfill the contract or pay it out in one lump sum (contract buy out).
Tell that to all the pro team athletes who renegotiate their contracts after a good year continually Slop.
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Scott
Post by: mrbowlingnut on February 08, 2007, 10:17:29 PM
quote:
Staff meeting will be on Saturday to talk about contracts
Post by: YeahHossNV on February 08, 2007, 10:54:39 PM
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"Brunswick für das Leben"
(\ /)
( . .)
c(')(')
Cute Bunny! copy bunny into sig to help him achieve world domination
Post by: crankncrash on February 08, 2007, 11:00:08 PM
Post by: golfnutFL on February 08, 2007, 11:00:21 PM
I will give you a simple example. Say a person owns a investment property. They sign a contract with a management company that allows the management company to rent, clean and maintain the property. The contract even contains a clause that says that the contract is binding upon heirs of the signer. This person dies. Are the heirs contractually obligated to continue this relationship under terms signed by the deceased. Under Florida law, the answer is 100% NO. The heirs did not sign nor were party to the contract. It is void.
I'll give you another example, this time commercial. A skilled nursing facility has contracts with a pharmacy and a therapy company. The owners are broke and sell the facility. Are the new owners bound by the contracts and are they responsible for any unpaid invoices prior to the date of purchase? The answer under Indiana law is NO.
So don't be so sure that Ebonite can't "drop" contracts. They were not party to them in the first place. Just because you buy a business doesn't neccessarily mean that you are obligated to fulfill the contracts of the seller. If Columbia no longer exists as an entity those contracts are likely unenforcable. Go after the prior owners if you don't like it, but most likely the new owners are not responsible (unless they agreed to assume responsibility under the purchase agreement, which I think would be foolish).
quote:
They can't "drop" contracts. Contracts are agreements between two parties constituting a commitment on BOTH ENDS. They must fulfill the contract or pay it out in one lump sum (contract buy out).
I'm sick of all the BS rumors floating around. Keep your mouth shut if you aren't speaking from the source.
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Trip-4 Bowling Supply
Email: trip4bowling@yahoo.com
PayPal ID: dartbowling@yahoo.com
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Don't argue with an idiot; people watching may not be able to tell the difference.
Post by: bluerrpilot on February 09, 2007, 03:20:01 AM
quote:
Technically the corporation that signed them no longer exists. That should void all contracts.
Who said Columbia no longer exists? When Ebonite purchased Hammer way back when, they didn’t just stop existing.
What about the sales reps to pro shops and wholesalers. Ebonite might want to use there own people there. As well as moving manufacturing to KY.
Post by: newman891 on February 09, 2007, 03:29:56 AM
Otherwise known as...
If Barnes or anyone else who worked for Columbia is going to continue to work for them, they will have to go through Ebonite first (onless of course it was already negotiated prior to C300 being purchased).
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Matthew R. Adams
Current Line-up: Action, Action Packed, Apex Aggresson, The Thing Returns, Vendetta Sniper, Pure Energy, XXXtreme, and Tropical Storm
Post by: clintdaley on February 09, 2007, 04:33:33 AM
Clint
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Post by: Sawuser on February 09, 2007, 05:19:08 AM
quote:
Until an official announcement is made from Ebonite, I don't believe any rumours or anything else thats said..
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I think the great slump of 2006-2007 is finally coming to an end!!
I agree with this, mainly because I'm not all knowing like some here seem to be. This reminds me of the lane1 forum
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Righty
Think about it!
It is impossible to govern rightly without God and the Bible. - George Washington
Post by: CoachJim on February 09, 2007, 05:39:25 AM
quote:
Barnes is out sorry...
You sure there isn't something you can do? You know for old time's sake?
Well just let Mike know it was just business.
Post by: Djarum on February 09, 2007, 07:11:10 AM
Dj
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The views and opinions of Djarum expressed on BallReviews.com do not necessarily state or reflect those of the BallReviews.com.
Post by: qstick777 on February 09, 2007, 07:19:11 AM
quote:
It is a rare circumstance where a purchaser is responsible for the contracts of the company that they've purchased.
Unless we know the details of Barnes' contract, we can't say for sure. There may have been wording to declare the contract void if the company was sold, declared bankruptcy, etc.
Have you never heard of company buyouts where the purchaser assume all assets and liabilities? Barnes' contract would be a liability.
Now, that being said, the press release only mentions an agreement to acquire ASSETS:
quote:
Ebonite International, Inc. has entered into an agreement for an asset purchase of Columbia Industries, including the Columbia, Track and Dyno-Thane® brands of bowling equipment
So, it is possible that Chris is "gone."
Because both companies are privately held, we have no way of knowing any of the numbers. It's possible that Columbia had 1 million dollars of debt, and 10 million in assets. Columbia could sell off all the assets for less than current value and still have enough to settle their debts and put some cash in their pockets.
Remember these are private companies - you can liken the sale of their assets to somebody that fixes up an old car - they might have $10k invested in the car and it might be worth $25k. They can sell for $13k and still be okay.
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Post by: qstick777 on February 09, 2007, 07:31:50 AM
If everybody associated with Columbia Industries was let go, they were not let go by Ebonite International, they were let go by Columbia Industries.
I worked a part time job in retail about 10 years ago. The company (Caldor) went out of business - couldn't compete with Walmart, Kmart, and Target. The store where I was working was sold to a liquidator.
The store told us that our last day would be X and after that the liquidator would own everything. If we wanted to continue working we would have to talk to the liquidator. The liquidator came in and basically said this: "As of next Tuesday, I am the owner. I would like you to stay on and work until everything is sold. I'm projecting 1 month. If you'd like to stay please come talk to me, if not I understand."
So, I was technically let go by Caldor, because they went out of business. I just happened to stay on for a few more weeks, but I was an employee of the liquidator and not the original company.
So, basically what I'm saying is that by selling everything to Ebonite, Columbia basically shut down it's business and let all the employees go. If people are bitter about people losing their jobs (or not being told ahead of time), they should be bitter at Columbia and not Ebonite.
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Post by: ShoreLefty on February 09, 2007, 07:41:55 AM
Post by: clintdaley on February 09, 2007, 07:46:21 AM
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Post by: golfnutFL on February 09, 2007, 09:04:43 AM
quote:quote:
Technically the corporation that signed them no longer exists. That should void all contracts.
Who said Columbia no longer exists? When Ebonite purchased Hammer way back when, they didn’t just stop existing.
What about the sales reps to pro shops and wholesalers. Ebonite might want to use there own people there. As well as moving manufacturing to KY.
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Don't argue with an idiot; people watching may not be able to tell the difference.
Post by: golfnutFL on February 09, 2007, 09:07:43 AM
quote:
I disagree with the concept regarding contracts. Almost
always the purchaser assumes the business obligations
of the company purchased, including contracts entered into
prior to the sale.
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Don't argue with an idiot; people watching may not be able to tell the difference.
Post by: SplitKing on February 09, 2007, 09:23:21 AM
Post by: Rev_O on February 09, 2007, 09:32:03 AM
quote:
Interesting...Go to Columbia's website and guess what is missing. They no longer have any inforamtion or links to anyone on Colimbia's bowling staff. I would say that is a good indication that they are all done.
Same thing on Tracks site, Click on Domestic staff, no pictures or names at all. They still have all of the international staff listed though!
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Rev-O
Post by: ShoreLefty on February 09, 2007, 10:27:19 AM
Post by: Fluff E Bunnie on February 09, 2007, 10:29:39 AM
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Special... Agent-man!
Post by: dpunky on February 13, 2007, 11:45:57 AM
When WWE bought WCW from AOL TimeWarner in 2002, WWE only bought the trademark and the tape library of WCW. They did not buy the contracts of the WCW wrestlers. These contracts remained property of AOL TimeWarner. WCW wrestlers that wanted to jump to WWE needed to either void their contract with AOL Timewarner, or wait at home and not work for another wrestling company until their contract ended.
Ebonite I believe structured the same deal with Columbia with buying the rights to the Columbia name and ball technology, and voiding all Columbia contracts. But I don't know the terms of the Ebonite deal with Columbia, so my insight is just speculation. I'm not sure where this leaves Chris Barnes.
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dpunky
"Now rolling Columbia, and old school Faball and Brunswick"
Too Cool for School
Post by: Xfest on February 13, 2007, 12:14:42 PM
quote:
Another example of the contracts not being automatically transfered to to the acquiring company is World Championship Wrestling (WCW).
When WWE bought WCW from AOL TimeWarner in 2002, WWE only bought the trademark and the tape library of WCW. They did not buy the contracts of the WCW wrestlers. These contracts remained property of AOL TimeWarner. WCW wrestlers that wanted to jump to WWE needed to either void their contract with AOL Timewarner, or wait at home and not work for another wrestling company until their contract ended.
Ebonite I believe structured the same deal with Columbia with buying the rights to the Columbia name and ball technology, and voiding all Columbia contracts. But I don't know the terms of the Ebonite deal with Columbia, so my insight is just speculation. I'm not sure where this leaves Chris Barnes.
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dpunky
"Now rolling Columbia, and old school Faball and Brunswick"
Too Cool for School
When comparing a fake sport to get entertainment, and having bowling as a very individual sport. I would conclude that wrestling has nothing to do with bowling.
Thats like comparing apples to oranges.
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"Do you NV me?"
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Ebonite Angular One
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Storm Pyro"Ey, Yo Crank! What ball was that?"
Post by: dpunky on February 13, 2007, 12:22:31 PM
quote:quote:
Another example of the contracts not being automatically transfered to to the acquiring company is World Championship Wrestling (WCW).
When WWE bought WCW from AOL TimeWarner in 2002, WWE only bought the trademark and the tape library of WCW. They did not buy the contracts of the WCW wrestlers. These contracts remained property of AOL TimeWarner. WCW wrestlers that wanted to jump to WWE needed to either void their contract with AOL Timewarner, or wait at home and not work for another wrestling company until their contract ended.
Ebonite I believe structured the same deal with Columbia with buying the rights to the Columbia name and ball technology, and voiding all Columbia contracts. But I don't know the terms of the Ebonite deal with Columbia, so my insight is just speculation. I'm not sure where this leaves Chris Barnes.
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dpunky
"Now rolling Columbia, and old school Faball and Brunswick"
Too Cool for School
When comparing a fake sport to get entertainment, and having bowling as a very individual sport. I would conclude that wrestling has nothing to do with bowling.
Thats like comparing apples to oranges.
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"Do you NV me?"
"Ey, Yo Crank! What ball was that?"
This topic was talking about how companies that get aquired deal with employee contracts, not comparing wrestling to bowling. I provided an example (which happened to be non-bowling) to illustrate the example of what a corporation may do to contracts. Since ebonite is a corporated company, and it aqcuired Columbia (another corporated company), my example is valid.
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dpunky
"Now rolling Columbia, and old school Faball and Brunswick"
Too Cool for School