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Author Topic: Archie CEOs Settle Dispute--oddly. Newslink  (Read 2899 times)

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Offline Captain Jetpack

Archie CEOs Settle Dispute--oddly. Newslink
« on: June 07, 2012, 09:37:46 AM »
See if you can make heads or tails of this.  ???:crazy2:

http://robot6.comicbookresources.com/2012/06/archie-comics-executives-settle-bitter-bizarre-legal-battle/


Quote
The yearlong legal feud for control of Archie Comics has ended with a settlement that restores embattled Co-CEO Nancy Silberkleit to her position at the company. However, the confidential agreement was criticized by the granddaughters of Archie co-founder John L. Goldwater, who claim that both executives’ “hands are dirty.”

Wednesday’s settlement allows Silberkleit, who as co-executor of her late husband’s estate, controls a 50 percent stake in Archie, to return to the office and resume her duties overseeing the company’s scholastic and live theatrical endeavors. Goldwater, who owns 25 percent of the shares, handles everything else. The remaining shares are held by a trust established by Goldwater’s half-brother Richard Goldwater, who passed away in 2007.

Kornreich signed off on the settlement over the objections of Richard Goldwater’s daughters, Lisa, Taylor and Summer Goldwater, who, after initially sitting on the sidelines, now accuse their uncle Jon Goldwater of misusing Archie assets and Silberkleit of drawing a company salary while still working as a teacher. In court papers, one of the daughters’ attorneys said the agreement is little more than a reciprocal exchange between “two directors who have been stealing from the company, or aiding and abetting each other’s theft.”


A horse with a head on each end goes nowhere, no matter how fast it gallops.

Not good for Archie, folks. :(
Beneath the Moon,
The Loony Goon,
And his Raccoon,
Will spoon in June!~~A Poem, By Reggie Mantle
**********************************************
Betty: You have a true love?
Jughead: A raccoon will never double cross you!

Offline karice

Re: Archie CEOs Settle Dispute--oddly. Newslink
« Reply #1 on: June 07, 2012, 10:22:09 AM »
what would happen to archie now?

Offline TheJugWithTheHat

Re: Archie CEOs Settle Dispute--oddly. Newslink
« Reply #2 on: June 07, 2012, 10:29:10 AM »
All I can say is I hope it doesn't effect the comics!
Teeny weeny magic beanie pointing toward the sky,
bring me muscle, vigor, strength...form a super guy!
        - Jughead Jones

Offline aamrun

Re: Archie CEOs Settle Dispute--oddly. Newslink
« Reply #3 on: June 07, 2012, 10:53:17 AM »
From a business perpspective, it means the fate of the comics depends on the whims of Silberkleit. She is the single largest stakeholder. Also she would be the one answerable to investors for the comapny's balance sheet. If required, she can take a decision to terminate titles, perhaps entire characters just to keep them happy.

Which reminds me that the Chinese still haven't gone fishing for comic books, they have pretty much bought up everything else. I wonder what would happen if a Chinese hedge fund buys in Silberkleit, would Riverdale be replaced by Shanghai ?

That would be an interesting development :)

Offline TheJugWithTheHat

Re: Archie CEOs Settle Dispute--oddly. Newslink
« Reply #4 on: June 07, 2012, 12:14:24 PM »
From a business perpspective, it means the fate of the comics depends on the whims of Silberkleit. She is the single largest stakeholder. Also she would be the one answerable to investors for the comapny's balance sheet. If required, she can take a decision to terminate titles, perhaps entire characters just to keep them happy.

Which reminds me that the Chinese still haven't gone fishing for comic books, they have pretty much bought up everything else. I wonder what would happen if a Chinese hedge fund buys in Silberkleit, would Riverdale be replaced by Shanghai ?

That would be an interesting development :)

It would not! I'd die! I'd riot in the streets! May Chinesedale never be born!
Teeny weeny magic beanie pointing toward the sky,
bring me muscle, vigor, strength...form a super guy!
        - Jughead Jones

Offline B-ko Daitokuji

Re: Archie CEOs Settle Dispute--oddly. Newslink
« Reply #5 on: June 07, 2012, 12:58:14 PM »
From a business perpspective, it means the fate of the comics depends on the whims of Silberkleit. She is the single largest stakeholder. Also she would be the one answerable to investors for the comapny's balance sheet. If required, she can take a decision to terminate titles, perhaps entire characters just to keep them happy.

Which reminds me that the Chinese still haven't gone fishing for comic books, they have pretty much bought up everything else. I wonder what would happen if a Chinese hedge fund buys in Silberkleit, would Riverdale be replaced by Shanghai ?

That would be an interesting development :)

What are you talking about?  It says right there in the press release she doesn't have control over the comics, Goldwater does.  It doesn't matter how many shares she owns.  She has to follow the settlement.

Offline Steveinthecity

Re: Archie CEOs Settle Dispute--oddly. Newslink
« Reply #6 on: June 07, 2012, 03:14:00 PM »
I'm fairly certain Archie is privately held, so there are no investors or shareholders outside of what was referenced in the article being Silberkleit, Goldwater, and the trust.

Offline RiverPhoenixDale

Re: Archie CEOs Settle Dispute--oddly. Newslink
« Reply #7 on: June 07, 2012, 05:37:44 PM »
Taylor Goldwater has an account here. Maybe she'll chime in.

Offline Captain Hero

Re: Archie CEOs Settle Dispute--oddly. Newslink
« Reply #8 on: June 07, 2012, 11:00:42 PM »
Taylor Goldwater has an account here. Maybe she'll chime in.

Unless she's on a gag order for whatever reason.
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Offline Steveinthecity

Re: Archie CEOs Settle Dispute--oddly. Newslink
« Reply #9 on: June 08, 2012, 01:09:43 AM »
Taylor Goldwater has an account here. Maybe she'll chime in.

Unless she's on a gag order for whatever reason.
It would be nice to hear from her, but I don't see that happening as she is part of the trust that wanted Jon Goldwater and Nancy Silberkleit ousted, and the members of the trust are still considering litigation against Mr. Goldwater for mismanagement of the Trusts investments. Also, I haven't seen anywhere that the details of the settlement between the chief executives have been made known, so Taylor and the other members could very well be in the dark as to what specific terms were agreed to.  The entire situation between the three segments of ownership seems far from over.

I hope something can be worked out to the satisfaction of all parties. It's unfortunate this has gone so far and received so much attention. I would feel terrible if the brand suffers because of this.

Offline rusty

Re: Archie CEOs Settle Dispute--oddly. Newslink
« Reply #10 on: August 22, 2013, 12:06:47 PM »
and now Nancy Silberkleit is suing her liaison to Archie Comics for sexual harassment, though she isn't suing Archie Comics itself.

http://www.nydailynews.com/entertainment/comics/archie-comics-execs-bring-feud-court-harass-claims-article-1.1433249

Offline JonInIowaCity

Re: Archie CEOs Settle Dispute--oddly. Newslink
« Reply #11 on: August 23, 2013, 03:08:12 PM »
This whole legal back-and-forth with Nancy Silberkleit is so facinating. I wish I had a little spy camera in the Archie Comics board room sometimes!

That said, I was reading one of these associated articles about this lawsuit and the depositions. Anyone else wonder how Silberkleit planned to "tart up" Betty and Veronica?

I mean, they're about to zombify them and that won't destroy the brand, but "tarting them up" will? What exactly does that mean???  :D

Offline rusty

Re: Archie CEOs Settle Dispute--oddly. Newslink
« Reply #12 on: August 23, 2013, 06:49:31 PM »
I mean, they're about to zombify them and that won't destroy the brand, but "tarting them up" will? What exactly does that mean???  :D

I dunno...maybe having them wear lots of visible makeup along with low cut shirts that expose their midriffs with micro skirts and having them hang around on street corners all while chewing lots of bubblegum?


Offline Original Sin

Re: Archie CEOs Settle Dispute--oddly. Newslink
« Reply #13 on: August 23, 2013, 07:21:23 PM »
I mean, they're about to zombify them and that won't destroy the brand, but "tarting them up" will? What exactly does that mean???  :D

I dunno...maybe having them wear lots of visible makeup along with low cut shirts that expose their midriffs with micro skirts and having them hang around on street corners all while chewing lots of bubblegum?


In short, just like the good old days? ;D
Archie: Betty, our Betty! Dear, sweet Betty!
Jughead: Blonde girl, cute smile, about so high...dates some guy named Mantle, right?


Offline rusty

Re: Archie CEOs Settle Dispute--oddly. Newslink
« Reply #14 on: August 26, 2013, 12:21:04 PM »

 

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