Nice to have friends in high places
Apple’s Chinese IPAD trademark nemesis Proview is set to kick start yet another business venture, having managed to attract over 100 million yuan (£10m) in funding to launch an LED lighting and bio-energy firm. The firm’s charismatic founder Yang Rongshan is hoping to reinvent the company after its Shenzhen subsidiary was …
How can a guy with that much debt start up a new company? When you owe 9 figures to people isn't it about time that they start seizing your assets and taking your business off you?
He doesn't have the debt...
Proview does. The company is a separate legal entity. Just because the company has the debts does not mean the director/owner of the company can't start new enterprises.
Welcome to commerce.
There's an old adage for that:
When you owe a few thousand quid to someone, it's your problem. When you owe a few hundred million quid to someone, it's their problem.
See also; Throwing good money after bad.....
Proview is on a roll
And their creditors, lawyers and banks are egging them on.
Re: Proview is on a roll
Arse, meet Elbow methinks
This is what I don't get
Why is it you see these CEOs from massive companies who tend to single handedly drive them into the ground. And then they get offered another CEO position where well, the same thing happens.
I can't think of any names in particular. I know a company a friend works for hired one of said CEOs, and now their share price dropped from around $30 to $3 within the year due to poor choices.
Do people not look at past records with CEOs to know they're bound to fail? Or do they just see "CEO of a company which once grossed $1,000,000,000,000" and go "wow he must be good" without thinking to check that after he 'left' the company was no worth closer to $1,000,000'
Re: This is what I don't get
Failed CEOs get a nice pay off if they fail and a nice reward if they succeed. I guess that sort of money buys for really good recruitment agents.
Not to mention that sometimes you employ people for their contacts and networking, rather than just their skills.
Are these the people who keep e-mailing me about buying LED faucet lights from a Chinese factory?
Remote Virtual Machines Strike ........ Crack Basic Hack Attack on Venal Diseased Systems
Oliver Mayes Posted Wednesday 1st August 2012 06:57 GMT ….. "How can a guy with that much debt start up a new company? When you owe 9 figures to people isn't it about time that they start seizing your assets and taking your business off you?
Here'a another crazy question, OM, which is getting louder and won't go away until it is truthfully answered and brings down the house of dodgy cards that is failing to shelter dodging cowards from the Perfect Global Storm which precedes Universal AIReformation of Remote Worldly Power and Controlling Command Generation.
How does the global money and ponzi banking system do virtually the same thing, except on an infinitely and exponentially bigger scale?
And today we can read of yet another juicy carrot being offered to a flogged dead horse …… Funding for Lending bank scheme launched
They do say, and I wonder if Mervyn King has heard it said, that a fool and their monies are easily parted …… which is probably why y'all are being treated as fools. The problem for crooked rigged remote control systems though is, that everyone is growing considerably smarter at an alarmingly fast unstoppable rate which cannot be discounted and disarmed.
Dealing with that particular specific and peculiar present virtual reality, is one imagines, more of a pressing immediate priority for successful resolution than any other current dilemma and enigmatic disturbance in the force and in inherited legacy systems of executive administration, whenever one considers all of the possible and most probably unpleasant fates of those responsible and accountable for any continuity of universal mass enslavement of populations by private personal hoarding of spontaneously invented and free riches, at the hands of truly enraged and honestly informed.
Re: I've got a better one.
How is it the US of A, birthplace of the sub-prime mortgage, and the paper it generated, which brought the world economy to its knees, where the banks and mortgage lenders, real estate brokers and property appraisers, created trillions and trillions of dollars of almost worthless collateralized debt obligations, which were sliced and diced, blanched and tranched and then peddled around the world at full price, along with Credit Default Swaps to insure them, (see FaceBook @$38 per share)?
Until the first guy with a $150,000 mortgage was unable to sell his house at that price and the whole thing unraveled.
How is it that many European nations are being forced to adopt austerity policies, while here in the US of A, it's still Party Time (Throw another nation on the barbie, Honey)? And how is it in this bankrupt world the US Treasury has no problem borrowing over a trillion dollars per annum while the amount of interest it pays on it's debt keeps shrinking and shrinking?
Inquiring minds etc.
Alternative buisness strategy:
Kickstarter Patent/Copyright Trolling
For £100 you will get 0.01% of any settlements
For £1000 you will get an official Proview IPAD (registered trademark)
For £5000 you will get 1 free spurious patent
For £1,000,000 you can choose the next lawsuit
For £10,000,000 you can buy a [a class="hide"]judge[/a] tshirt
I presume Yang owns a custom wheelbarrow...
,,,because I'm not sure that you could actually transport a set of balls that big in a standard one.
@ Local Group
" ....on a roll...egging them on "
I see what you did there....
Re: @ bugalugs
Nothing escapes the Argus-eyed readers of ElReg. They are more acquainted with the fall of a sparrow than a tongue is with a hollow tooth.