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re: That’s crazy
Posted by: ryhog 02:15 pm EDT 06/21/22
In reply to: re: That’s crazy - jgerard 12:55 pm EDT 06/21/22

My point (that I must not be conveying very well) is that there of course ARE rules of recoupment, but they are not the stuff of press releases. When you speak about investors being impressed (in your subsequent post), perhaps you mean potential future investors. Press releases do of course have a (potentially) salutary effect on future investors, as well as on potential customers. It's not really hard to figure out that hyping the demand for a show sells tickets. It also buttresses (validly or not) a producer's pedigree. But for PRESENT investors in a show, there is no confusion or mystery about recoupment. The only rules of recoupment that DO exist provide those investors with precise proof: if the money is in your bank account, then the producer has returned all or part of your investment. If the money is not in your account, nothing in a press release means a thing to you (and, for that matter, nothing in a press release is actionable by you).

I am not sure why you keep bringing up Garth in relation to this (he had nothing to do with Lehman). It's no secret that I share your head scratching regarding some of those who are doing business with this deadbeat fraudster, but the essence of a con man is that they somehow know how to charm otherwise smart people into being conned over and over. (As I have also pointed out though, one reason Garth has so many secondary and tertiary people working on his show is that a LOT of people said no.) [Fwiw, and I don't want to go off on the tangent, I don't agree with you about the importance of Mike Ovitz to the Livent saga.] But as I said before, nothing about Garth has the slightest thing to do with Lehman's recoupment (or not). Unless you are accusing its producers of being pathological fraudsters, which I am pretty sure you are not.

Finally, bringing up Rudin is also a red herring. Rudin was not "erased" by investors or landlords; he erased himself. And for good reason: it was the only way he had a prayer of avoiding being criminally charged. Using the press through spin (often without substantial basis) to one's advantage is nothing new in this business (or most). Rudin did a lot of things I would call silly, but again, I don't think you are accusing him of defrauding people by the things you mention.

Clear-eyed analysis = good. :-)
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