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GenCon files Chapter 11
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<blockquote data-quote="Steel_Wind" data-source="post: 4054410" data-attributes="member: 20741"><p>The much bigger implication arising out of all of this is pretty simple: <em>a company a lot of people paid $65 dollars to for a GenCon badge just filed for Chapter 11.</em></p><p></p><p>There are a lot of holidays planned for August which have now been placed somewhat in doubt.</p><p></p><p>That causes me a great deal of concern, as I am now very much wondering whether GenCon Indy will proceed as planned this year; or if it does proceed, whether the quality of the event will be greatly altered. Once you cross that Bankruptcy Rubicon - the expectations of parties with whom you are dealing in any commercial setting changes radically and the fundamental element of trust in an ongoing commercial relationship changes.</p><p></p><p>There are a lot of exhibitors - retailers and game manufacturers for whom Gencon is a critical part of their business plans. Now? Those parties are worried - no doubt of that. Because Gencon is so important to their business plans, they'll be facing some difficult choices in the coming months.</p><p></p><p>However, there are a lot of exhibitors, particularly electronic exhibitors, for whom Gencon does not represent a critical part of their business plans. To those exhibitors (I attended GenCon last year as an exhibitor for Atari and CD Projekt Red to demo <em>The Witcher</em> computer game) we will have a very different reaction to this news. To such exhibitors, Gencon simply represents a significant cost as a consumer tradeshow which cost has to be annually justified every year. Gencon is not a critical part of these companies' business plans. Those costs can easily be cut and walked away from after spending as much time as it takes you to read this post to think about it.</p><p></p><p>That is not an exaggeration. That's big money to Gencon LLC which is now resting on a very shaky foundation indeed. </p><p></p><p>Gencon is going to throw the core of their business into doubt with this Chapter 11 filing. If you think you can do that without substantial commercial consequences? Dream friggin' on guys. Dream on.</p></blockquote><p></p>
[QUOTE="Steel_Wind, post: 4054410, member: 20741"] The much bigger implication arising out of all of this is pretty simple: [I]a company a lot of people paid $65 dollars to for a GenCon badge just filed for Chapter 11.[/I] There are a lot of holidays planned for August which have now been placed somewhat in doubt. That causes me a great deal of concern, as I am now very much wondering whether GenCon Indy will proceed as planned this year; or if it does proceed, whether the quality of the event will be greatly altered. Once you cross that Bankruptcy Rubicon - the expectations of parties with whom you are dealing in any commercial setting changes radically and the fundamental element of trust in an ongoing commercial relationship changes. There are a lot of exhibitors - retailers and game manufacturers for whom Gencon is a critical part of their business plans. Now? Those parties are worried - no doubt of that. Because Gencon is so important to their business plans, they'll be facing some difficult choices in the coming months. However, there are a lot of exhibitors, particularly electronic exhibitors, for whom Gencon does not represent a critical part of their business plans. To those exhibitors (I attended GenCon last year as an exhibitor for Atari and CD Projekt Red to demo [I]The Witcher[/I] computer game) we will have a very different reaction to this news. To such exhibitors, Gencon simply represents a significant cost as a consumer tradeshow which cost has to be annually justified every year. Gencon is not a critical part of these companies' business plans. Those costs can easily be cut and walked away from after spending as much time as it takes you to read this post to think about it. That is not an exaggeration. That's big money to Gencon LLC which is now resting on a very shaky foundation indeed. Gencon is going to throw the core of their business into doubt with this Chapter 11 filing. If you think you can do that without substantial commercial consequences? Dream friggin' on guys. Dream on. [/QUOTE]
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