|
|
Post by Yambag Jones on Jun 1, 2020 10:21:39 GMT -5
|
|
|
|
Post by aggressiveperfector on Jun 1, 2020 10:33:58 GMT -5
Why am I not surprised Vince waited until a crisis in which this would be buried to do some scumbag craplike this. |
|
|
|
Post by hbkbigdaddycool on Jun 1, 2020 15:21:19 GMT -5
They are still making more money than me!
|
|
|
|
Post by marino13 on Jun 1, 2020 19:00:19 GMT -5
I have no idea why a wrestling fan should care about how much referees or producers make. But anyhow, just because they're making a profit now, doesn't mean they will be in 6 more months if this social distancing continues. Nothing wrong with cutting costs at a time like this to be safer than sorry later.
|
|
|
|
Post by ~*Young $ Money*~ on Jun 1, 2020 19:59:38 GMT -5
Can’t really say it’s wrong or messed up when there are companies all over laying off and having people take pay cuts.
|
|
havoc7179
Main Eventer
What is this?
Joined on: Oct 16, 2012 9:11:18 GMT -5
Posts: 4,189
|
Post by havoc7179 on Jun 1, 2020 20:03:29 GMT -5
Lucky schmucks
My job cut me by 25%.
|
|
|
|
Post by ¡Twist Of 45 and 47! on Jun 2, 2020 2:38:02 GMT -5
Why am I not surprised Vince waited until a crisis in which this would be buried to do some scumbag crap like this. You mean like a lot of other businesses are doing during this whole situation? It’s a lot better than the alternative. |
|
wheeljack83
Main Eventer
Joined on: Feb 16, 2018 23:52:48 GMT -5
Posts: 1,353
|
Post by wheeljack83 on Jun 2, 2020 6:15:29 GMT -5
Can’t really say it’s wrong or messed up when there are companies all over laying off and having people take pay cuts. WWE already laid off and cut a ton of talent and staff. Or furloughed them. |
|
|
|
Post by Yambag Jones on Jun 2, 2020 10:06:10 GMT -5
Can’t really say it’s wrong or messed up when there are companies all over laying off and having people take pay cuts. WWE already laid off and cut a ton of talent and staff. Or furloughed them. Unfortunately, since they've never been on tv a lot of people overlook them. |
|
|
|
Post by Yambag Jones on Jun 2, 2020 10:10:45 GMT -5
Why am I not surprised Vince waited until a crisis in which this would be buried to do some scumbag crap like this. You mean like a lot of other businesses are doing during this whole situation? It’s a lot better than the alternative. It's different though because WWE hasn't been hurt by this. Most companies and corporations are laying people off because business is down or projected to be down. WWE's actually saving over 3 million dollars by not running live events. They're one of the few businesses that's actually more profitable because of this whole thing. |
|
|
|
Post by Yambag Jones on Jun 2, 2020 10:18:48 GMT -5
I have no idea why a wrestling fan should care about how much referees or producers make. But anyhow, just because they're making a profit now, doesn't mean they will be in 6 more months if this social distancing continues. Nothing wrong with cutting costs at a time like this to be safer than sorry later. From a profitability stand point, you're right. But if we start talking morality and business ethics, there's a lot wrong with what they've done (specifically) since the pandemic started. |
|
|
|
Post by marino13 on Jun 2, 2020 12:37:43 GMT -5
I have no idea why a wrestling fan should care about how much referees or producers make. But anyhow, just because they're making a profit now, doesn't mean they will be in 6 more months if this social distancing continues. Nothing wrong with cutting costs at a time like this to be safer than sorry later. From a profitability stand point, you're right. But if we start talking morality and business ethics, there's a lot wrong with what they've done (specifically) since the pandemic started. If you say so. There are a lot of people taking pay cuts or being laid off all over the world. I did. My wife did. It's happening most everywhere at the moment. |
|
|
|
Post by Yambag Jones on Jun 2, 2020 13:26:34 GMT -5
From a profitability stand point, you're right. But if we start talking morality and business ethics, there's a lot wrong with what they've done (specifically) since the pandemic started. If you say so. There are a lot of people taking pay cuts or being laid off all over the world. I did. My wife did. It's happening most everywhere at the moment. So did I, but that's no reason to excuse WWE's business practices. I'm not fighting or bickering, please don't misunderstand my tone. Just because most places are doing it doesn't excuse their actions. They constantly brag about how much money they have in reserve (they consistently float out 50 million in their earning calls and reports), yet they're not taking care of their own in a time where few (if any) jobs are available. I'm going beyond the fact that they can afford to pay out every person they let go or furloughed for years, I'm saying that Vince McMahon has a moral obligation. The WWE (like many corporate entities) uses rhetoric like "we're family" and this was an opportunity to stand by that when they easily could have. Unless USA or FOX told them that they'd be paid less than what their contracts state, I see no moral reason for them to be cutting and slashing like they are. |
|
|
|
Post by marino13 on Jun 2, 2020 13:52:01 GMT -5
If you say so. There are a lot of people taking pay cuts or being laid off all over the world. I did. My wife did. It's happening most everywhere at the moment. So did I, but that's no reason to excuse WWE's business practices. I'm not fighting or bickering, please don't misunderstand my tone. Just because most places are doing it doesn't excuse their actions. They constantly brag about how much money they have in reserve (they consistently float out 50 million in their earning calls and reports), yet they're not taking care of their own in a time where few (if any) jobs are available. I'm going beyond the fact that they can afford to pay out every person they let go or furloughed for years, I'm saying that Vince McMahon has a moral obligation. The WWE (like many corporate entities) uses rhetoric like "we're family" and this was an opportunity to stand by that when they easily could have. Unless USA or FOX told them that they'd be paid less than what their contracts state, I see no moral reason for them to be cutting and slashing like they are. They're obviously planning for a future without an audience. As I said earlier, things may look good financially for now, but things may not look so good in 6 months. Or another year. Maybe two. Nobody knows how long this will last. And I'm sorry but whether I like it or not, I can't fault any company for trying to get ahead of this.
|
|
|
|
Post by Yambag Jones on Jun 2, 2020 14:11:59 GMT -5
So did I, but that's no reason to excuse WWE's business practices. I'm not fighting or bickering, please don't misunderstand my tone. Just because most places are doing it doesn't excuse their actions. They constantly brag about how much money they have in reserve (they consistently float out 50 million in their earning calls and reports), yet they're not taking care of their own in a time where few (if any) jobs are available. I'm going beyond the fact that they can afford to pay out every person they let go or furloughed for years, I'm saying that Vince McMahon has a moral obligation. The WWE (like many corporate entities) uses rhetoric like "we're family" and this was an opportunity to stand by that when they easily could have. Unless USA or FOX told them that they'd be paid less than what their contracts state, I see no moral reason for them to be cutting and slashing like they are. They're obviously planning for a future without an audience. As I said earlier, things may look good financially for now, but things may not look so good in 6 months. Or another year. Maybe two. Nobody knows how long this will last. And I'm sorry but whether I like it or not, I can't fault any company for trying to get ahead of this.
I understand what you’re saying. Moving forward without fans actually saves them a lot of money and makes sense for them to run a lot of their shows like they currently are. They lost over 3 million in Q4 from running live events and the trend of attendance going down has been consistent. They’re in a very different position than literally every other promotion. If WWE didn’t have their tv contracts and blood money, they’d be in extremely dire straights and any cut would be easily justified. |
|
|
|
Post by rowdy1971 on Jun 2, 2020 14:12:13 GMT -5
That sucks. At my job? I got a raise and a bonus. It's not everywhere.
|
|
|
|
Post by kennyw86v2 on Jun 2, 2020 20:02:37 GMT -5
They are still making more money than me! Underrated comment. |
|
|
|
Post by BØRNS on Jun 4, 2020 4:02:14 GMT -5
You mean like a lot of other businesses are doing during this whole situation? It’s a lot better than the alternative. It's different though because WWE hasn't been hurt by this. Most companies and corporations are laying people off because business is down or projected to be down. WWE's actually saving over 3 million dollars by not running live events. They're one of the few businesses that's actually more profitable because of this whole thing.WHAT?!? How is WWE more profitable and saving money? If that were the case, WWE would have stopped running live events years ago. WWE makes a ton of money selling tickets and merchandise with their live event, TV broadcasts, and PPVs. WWE has most certainly lost profit as they haven't had paid admission in nearly three months. |
|
jason1980s
Main Eventer
Joined on: Sept 30, 2009 14:58:56 GMT -5
Posts: 2,335
|
Post by jason1980s on Jun 4, 2020 9:44:47 GMT -5
I'm sure most fans would be upset with the recent cuts, firings and pay cuts, because WWE will waste so much money on non wrestling related ventures or celebrities at the risk of hurting their own talent. It would be one thing of the celebrities brought more money and attention to the product but they are really not bringing in new fans. It would be one thing if the outside ventures elevated WWE but they don't. It's been like this for 30+ years and keeps on going at the expense of the talent who dedicate their lives to the company. Vince McMahon obviously hates the wrestling business but would have never been able to make it in a non wrestling entertainment career so he must keep going with WWF/WWE. The best example of total waste is how many Raw host celebrities brought in new fans? I'm guessing none. How many celebrities even knew what about WWE or the wrestlers they had skits with? Very few IIRC.
|
|
|
|
Post by Yambag Jones on Jun 4, 2020 10:11:15 GMT -5
It's different though because WWE hasn't been hurt by this. Most companies and corporations are laying people off because business is down or projected to be down. WWE's actually saving over 3 million dollars by not running live events. They're one of the few businesses that's actually more profitable because of this whole thing.WHAT?!? How is WWE more profitable and saving money? If that were the case, WWE would have stopped running live events years ago. WWE makes a ton of money selling tickets and merchandise with their live event, TV broadcasts, and PPVs. WWE has most certainly lost profit as they haven't had paid admission in nearly three months. The majority of their income comes from their tv contracts and the blood money. Live attendance has been declining for a while and in conference calls they'd attribute it to Cena not being there and injuries. In Q4 of 2019 they lost money doing live shows. They're no longer paying people to run their trucks and production all over the world, or renting out large venues that don't sell out. The 2020 Q2 call is coming up soon and we'll know much more about actual numbers (they've only given a projection to stockholders which they'll hit now that they laid off a bunch of people and stopped construction on new headquarters). I point people to wrestlenomics when it comes to WWE financials. I haven't found anyone as adept at breaking down their numbers that aren't trying to build confidence in their investors to buy stock. I pm'd you a link. |
|
