GenCon files Chapter 11

[buzz]

The release specifically says GenCon Indy '08 is not in jeopardy.

 

[smootrk]

The release specifically says GenCon Indy '08 is not in jeopardy.

and what company wouldn't state this in the face of losing customers/vendors/etc? Gotta throw out some positive spin. I would expect even more ambitious positive speculations to be churned out in the near future.

 

[crazy_cat]

The release specifically says GenCon Indy '08 is not in jeopardy.

But it is a press release and thus is PR and a statement of how they'd like things to turn out rather than necessarily being an actual concrete statement of the facts.

 

[buzz]

Sue me, I'm an optimist.

I'd imagine that so much money has probably already been lain out for GenCon Indy '08 that there's no backing out now.

Now, GenCon Indy '09 could be a different story.

 

[Steel_Wind]

Sue me, I'm an optimist.

I'd imagine that so much money has probably already been lain out for GenCon Indy '08 that there's no backing out now.

You are kidding yourself with this. Really, you are. You do not turn certainties into doubts for free. There are significant consequences.

 

[buzz]

You are kidding yourself with this. Really, you are. You do not turn certainties into doubts for free. There are significant consequences.

My wife used to work in corporate law, so given what she's told me about the typical time-frames for big litigation like this, I think GenCon '08 is likely going to happen. I'm not claiming 100% certainty, of course.

All we can do is wait and see.

 

[crazy_cat]

I'm sure Gencon the company want (and fully intend) to run Gencon the event in 2008 - and have probably committed alot of money and effort to preparations for it.

The real question now is can they actually deliver if, for example, key sponsors, partners, and exhibitors pull out based on the negative publicity generated by current events.

If the event looks like it is going to go badly and potentially make a huge loss then I can see the plug being pulled. All IMHO obviously.

 

[Steel_Wind]

My wife used to work in corporate law, so given the typical time-frames for big litigation like this, I think GenCon '08 is likely going to happen. I'm not claiming 100% certainty, of course.

Well, my wife is not a lawyer. But I am a lawyer; moreover, I am in the business of making and marketing games as well.

So you'll forgive me if I view the legal answer as to the theoretical efficacy of "bankruptcy protection" to executory contracts with a cynical and jaundiced eye.

I am not saying that Gencon 08 will not go forward. It probably will - though the matter - which was previously a certainty - now has an element of doubt to it. You don't get to that new place for free.

Far more importantly, I am saying that the quality of the event is now greatly in doubt and the commitment of many different parties who depend on trust and the expectation of an ongoing commercial interest over a course of years to focus their attention and commitment is shaken. That has a cascade effect that is very difficult to avoid.

I repeat: there will be consequences.

 

[Varianor Abroad]

I'm optomistic!

The bankruptcy is a perfectly common way to manage debt. It's unfortunate that it has a title that it does. However, Gen Con LLC has always been forthright, and they have always said that the Indy venue has been profitable.

 

[Vrecknidj]

Where are all the Darth Vader vs. Elminster jokes?

I mean, they're not exactly on target, but, close enough.

Geez.

Dave