Weekly News Roundup (24/10 - 30/10)

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M.C.G. 31

Damn, he brave!
Oct 6, 2008
96,273
18,949
Ottawa
The emails leaked from the lawsuit re: TNA, and it doesn't look good. It pretty much looks like Dixie herself named Corgan President of the company without even knowing how much power or what kind of power he would have and essentially screwed herself.

Not only that, but she took Corgan's money on the condition that if she defaulted on a payment, the company and the shares Dixie owned would go to Corgan for nothing. Now, she's defaulted on payments and the 92.5% of shares that she owns are going to Corgan for no cost (except the debt he's owed, of course). Dixie knows it, Corgan knows it, the lawyers know it. It seems Dixie tried selling assets to raise enough money to pay off Corgan and keep the company but it obviously didn't work and they tried keeping Corgan out of the loop long enough to do it. Again, didn't work. Corgan filed the lawsuit once he found out.

Corgan owns TNA and Dixie is a gigantic idiot - a bigger one than we thought.
 

Pinkfloyd

Registered User
Oct 29, 2006
71,591
15,287
Folsom
The emails leaked from the lawsuit re: TNA, and it doesn't look good. It pretty much looks like Dixie herself named Corgan President of the company without even knowing how much power or what kind of power he would have and essentially screwed herself.

Not only that, but she took Corgan's money on the condition that if she defaulted on a payment, the company and the shares Dixie owned would go to Corgan for nothing. Now, she's defaulted on payments and the 92.5% of shares that she owns are going to Corgan for no cost (except the debt he's owed, of course). Dixie knows it, Corgan knows it, the lawyers know it. It seems Dixie tried selling assets to raise enough money to pay off Corgan and keep the company but it obviously didn't work and they tried keeping Corgan out of the loop long enough to do it. Again, didn't work. Corgan filed the lawsuit once he found out.

Corgan owns TNA and Dixie is a gigantic idiot - a bigger one than we thought.

That all sounds like a win for TNA to be honest. lol
 
Oct 18, 2011
44,276
10,196
The emails leaked from the lawsuit re: TNA, and it doesn't look good. It pretty much looks like Dixie herself named Corgan President of the company without even knowing how much power or what kind of power he would have and essentially screwed herself.

Not only that, but she took Corgan's money on the condition that if she defaulted on a payment, the company and the shares Dixie owned would go to Corgan for nothing. Now, she's defaulted on payments and the 92.5% of shares that she owns are going to Corgan for no cost (except the debt he's owed, of course). Dixie knows it, Corgan knows it, the lawyers know it. It seems Dixie tried selling assets to raise enough money to pay off Corgan and keep the company but it obviously didn't work and they tried keeping Corgan out of the loop long enough to do it. Again, didn't work. Corgan filed the lawsuit once he found out.

Corgan owns TNA and Dixie is a gigantic idiot - a bigger one than we thought.
Jesus Christ, Dixie never had a ****ing end game, it's like she just kept hoping to find more people to give her money and just kept trying to buy time.

i hope this is true, she needs to go away and do something else, i'd like to see what corgan can do with a total rebrand
 

GKJ

Global Moderator
Feb 27, 2002
193,199
43,604
Dixie obviously is supremely delusional, she was going to keep borrowing money from everyone until she either hit it big or died trying
 

Engebretson

Thank you, sweet rabbit
Nov 4, 2010
10,550
437
Minnesota
Billy Corgan vs TNA is in court and a reporter is live tweeting:

Dixie is there and Corgan has a lawyer (Sims) representing him.













What an absolute mess
 
Oct 18, 2011
44,276
10,196
Dixies logic is billy should not get any return on the risk/investment he made. Only get his loan back.

So bad. I hope the judge realizes how incompetent she is.
 

scrubadam

Registered User
Apr 10, 2016
12,438
1,904
I don't think WWE understands that people like Ellsworth ironically. He's a geek that shouldn't be there, and it's funny. But in typical WWE fashion they just look at things superficially and think "BOY THEY REALLY LOVE ELLSWORTH HUH?"

I don't hate the guy by any means, but the joke is over. It was funny and entertaining the first two times, but now they've exhausted any novelty he once had. If you want to bring him out at the Rumble that's fine, but for the love of God these guys ruin EVERYTHING.

Maybe the joke is over and its ruined, but I can't help but pull for the guy. He was some stupid jobber who might actually have a chance at a real wrestling career thanks to this stupidy. Good for him and if he can earn some real cash and make enough of a name that he can get big indy/TNA bucks eventually even better.

I do agree he should be used sparringly, or even have him turn heel and join Styles(lol) but if WWE ruining the joke means the guy can put food on the table and provide for his family let the joke be ruined.
 

scrubadam

Registered User
Apr 10, 2016
12,438
1,904
Dixie aint no saint or genius, but can you fault her for scratching and clawing her way to trying to keep her own wrestling company. Heyman did the same thing with ECW and he is revered. He basically bankrupted it, shut the doors and showed up on RAW a few days later to everyones surprise.

Its stupid business to do what she did, but if you own a company a lot of times you will borrow money from where ever you can to keep it going without thinking about how you will pay it back.
 

Kimi

Registered User
Jun 24, 2004
9,890
636
Newcastle upon Tyne
Can they just fold so the people worth talent can get out of that hell hole and go somewhere proper?
If anyone wants out, they can just walk now as pay has been late again recently.

No one is leaving as they all like money, and TNA give them it (usually). A regular cheque is worth a lot to most of them.
 

Kimi

Registered User
Jun 24, 2004
9,890
636
Newcastle upon Tyne
Dixie aint no saint or genius, but can you fault her for scratching and clawing her way to trying to keep her own wrestling company. Heyman did the same thing with ECW and he is revered. He basically bankrupted it, shut the doors and showed up on RAW a few days later to everyones surprise.

Its stupid business to do what she did, but if you own a company a lot of times you will borrow money from where ever you can to keep it going without thinking about how you will pay it back.
ECW lost money, but it wasn't as stupid as TNA is about. They shut down before it got real bad. Same with Smokey Mountain.
 

The Lunatic Fridge

why is my name here?
Aug 20, 2008
35,049
73
New York
If anyone wants out, they can just walk now as pay has been late again recently.

No one is leaving as they all like money, and TNA give them it (usually). A regular cheque is worth a lot to most of them.

Several guys have said they were owed triple figures before they left. I doubt anyone ever gets paid over there on time.
 

M.C.G. 31

Damn, he brave!
Oct 6, 2008
96,273
18,949
Ottawa
Talents aren't getting paid.

Corgan says he was never made aware of the company's true debts and isn't even sure if WWE was made aware of them when they were talking last month. “If defendants falsely represented to WWE that the company’s liabilities were only [redacted] as stated in the June 30, 2016 balance sheet, the evidentiary value of any “offer” WWE may have made would be even more dubious.”

Total Nonstop DELETION, which would have been filmed on the Hardy compound, is postponed due to -- you guessed it -- lack of funds.
 

scrubadam

Registered User
Apr 10, 2016
12,438
1,904
ECW lost money, but it wasn't as stupid as TNA is about. They shut down before it got real bad. Same with Smokey Mountain.

Not takeing anything away from Dixies stupidity or bad business sense, just saying its not surprising the lengths some people will go to keep their company a float. I am sure when she took Billys money she probably knew it would be hard to pay him back but she just wanted to keep her baby.
 

Emperoreddy

Show Me What You Got!
Apr 13, 2010
133,882
81,762
New Jersey, Exit 16E
Not takeing anything away from Dixies stupidity or bad business sense, just saying its not surprising the lengths some people will go to keep their company a float. I am sure when she took Billys money she probably knew it would be hard to pay him back but she just wanted to keep her baby.

But she took Billy's money and lied to him.

Now she got caught, so there is little sympathy here.

Heyman was terrible at business, but he had a great mind for wrestling.

Dixie is just plain bad at everything but being a conwoman.
 

Emperoreddy

Show Me What You Got!
Apr 13, 2010
133,882
81,762
New Jersey, Exit 16E
So TNA's argument is that the deal they made with Billy isn't legal in Tennessee.

The deal they agreed on with Billy in the first place. So TNA and Dixie could survive (and Billy basically cashes out) by admitting they are a bunch of incompetent idiots.
 

KesselBuiltMyHotrod

Registered User
Aug 2, 2005
32,735
5,428
MA
Remember when Spike TV told Dixie not to hire Vince Russo, and so she secret hired him and lied about it, and then Spike found out and Dixie lost the contract with Spike?

Dixie has always been an abject moron.
 

Emperoreddy

Show Me What You Got!
Apr 13, 2010
133,882
81,762
New Jersey, Exit 16E
Talents aren't getting paid.

Corgan says he was never made aware of the company's true debts and isn't even sure if WWE was made aware of them when they were talking last month. “If defendants falsely represented to WWE that the company’s liabilities were only [redacted] as stated in the June 30, 2016 balance sheet, the evidentiary value of any “offer†WWE may have made would be even more dubious.â€

Total Nonstop DELETION, which would have been filmed on the Hardy compound, is postponed due to -- you guessed it -- lack of funds.

Billy also wasn't made aware that they even talked to WWE about selling the tape library.
 
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