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Equipment Discussions >> Cats & Casses

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RGWOOD
member


Reged: 05/17/10

Loc: Lake Jackson, Tx
Re: The plot thickens (Meade takeover) [Re: Mike in Tampa]
      #5930018 - 06/19/13 08:37 PM

Meade as it is is already a corpse. I just looked at their SEC filings and they have lost 90% of their cash to cover their 3 million dollar negative cash flow. I doubt they have the cash to cover the pay role now.
I do not think there is any intrinsic value to "breaking it up." There is about 8 million in inventory but that's it. I suspect MIT will either try to restructure to lower the operating expense, or sell out to another interested party. Probably both.


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Stew57
Carpal Tunnel
*****

Reged: 05/03/09

Loc: Silsbee Texas
Re: The plot thickens (Meade takeover) [Re: brucepech]
      #5930061 - 06/19/13 09:07 PM

I take 2! We are on a roll.

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Spacetravelerx
Carpal Tunnel


Reged: 12/23/12

Loc: New Mexico
Re: The plot thickens (Meade takeover) [Re: Stew57]
      #5930094 - 06/19/13 09:26 PM

RE: CN buyout...

Interesting idea. To REALLY pull it off the following steps are needed (the Entrepreneur in me thinking here...):

(1) I think the Ante should be $200 to provide a buffer on the bidding process.
(2) Another $200 should go into providing some working capital.
(3) We haggle a plan to reduce the debt owed or we all share in the NOL.
(4) Some one should keep a tally on people who pledge to participate. If the numbers REALLY get serious it could get very interesting.
(5) The investors/shareholders do something to help boost our new found business, like buy our products. As simple as an eyepiece or filter to an LX600 or LX850.

I have ideas on working with the brain trust and incorporating friendly partners, but I am very curious to see how this works out. I have seen crazy things happen in the internet. You never know!

Meade has a fantastic portfolio. If I had a bit of lead time and wasn't so tied up with my other major projects, I am convinced I can work with the key folks inside and out to put an end to the shenanigans.

Put me in for 100 shares at $200/share plus $10k in working capital if we do this.


P.S. - Jon, I actually love the twist cup eyepieces. I find them rather ingenious. I am going to buy a few more of them.


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jrbarnett
Eyepiece Hooligan
*****

Reged: 02/28/06

Loc: Petaluma, CA
Re: The plot thickens (Meade takeover) [Re: Starhawk]
      #5930170 - 06/19/13 10:09 PM

I'm in for $20k. No foolin'. But I want to be Chairman of the Board.

We'll hire Don Pensack as our CEO. We'll kill off everything except H Alpha and fork mounted SCTs, and then use the savings from the culling to make those much better than competitors can touch. We'll move manufacturing back to the US.

In 5 years, we'll be buying Celestron from Synta, ES from JOC and Lunt. Muahahahahaha! Then we'll take it public again, retire as rich men and women, and then let some group of Wallstreet bozos run it back into the ground so our kids can wash, rinse, repeat.

Two years ago three buddies and I talked about taking over Meade as a hobby project. It is that cheap.

Regards,

Jim


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ColoHank
Carpal Tunnel
*****

Reged: 06/07/07

Loc: western Colorado
Re: The plot thickens (Meade takeover) [Re: jrbarnett]
      #5930181 - 06/19/13 10:13 PM

It'd probably be a safer bet to buy lottery tickets.

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Spacetravelerx
Carpal Tunnel


Reged: 12/23/12

Loc: New Mexico
Re: The plot thickens (Meade takeover) [Re: ColoHank]
      #5930217 - 06/19/13 10:30 PM

Quote:

It'd probably be a safer bet to buy lottery tickets.




No way, ColoHank. Lottery is very very VERY remote chance of success.

Startups, new business initiatives and successful turn arounds have much higher odds. Me? Within big corps I had a 100% success rate in my business development (FYI, I worked for Apple too...).

Small Business? I have had quite a bit of success helping other small businesses and very successful on my own. I have certainly had projects fail, but have had numerous successes and related awards.

From my perspective, way better odds than the lotto, way better odds.

Jon, I think we will fight over the board position, but we can work out something

I would not kill parts of the product line. There are ways we can parley a complete solution.

I would not kill off manufacturing in Mexico - too expensive to do over, but I would certainly review operations as one should always do. I would expand manufacturing there and in the Southwest, likely New Mexico and/or Texas.

Meade is a powerful brand and has a rich history. I feel with the right players and the CN "buyers" it would be a juggernaut in the community. Not only supporting the hobby, but also areas in government, commercial and research.

FYI, if just 1000 of us kick in $20k this deal would be done swiftly.

Think about it...


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OleCuss
member


Reged: 11/22/10

Re: The plot thickens (Meade takeover) [Re: Spacetravelerx]
      #5930241 - 06/19/13 10:42 PM

I'm really enjoying the idea of a CN Meade take-over.

NOT going to happen. MITC is not going to bow out in favor of a CN bid. I'm betting JOC won't either.

If there were a serious CN bid to take over Meade, then there would be so much litigation it'd make my head hurt - and the delay in getting a resolution would likely doom Meade.

To me it is interesting to remember that Meade does not own the European Meade brand. Exactly how that came about might be a very interesting part of how MITC is involved and might have interesting implications for JOC and maybe for Meade's board depending on how the various contracts are structured.

The other thing that I find extremely interesting is that JOC seems to make a lot of the Meade scopes. So if MITC should buy Meade USA, would JOC still supply those scopes? For that matter, if MITC were to buy Meade, would there be contractual implications regarding JOC's ability to sell the scopes it makes in Europe?

I find all this fascinating and I'd not want to touch a deal like this unless I'd had a team of lawyers and accountants examining the structure, the contracts, and the markets for months and months. IMHO, it'd be foolhardy to launch another bid at this time.


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nicklane1
sage
*****

Reged: 03/04/08

Re: The plot thickens (Meade takeover) [Re: Spacetravelerx]
      #5930243 - 06/19/13 10:43 PM

Quote:

Quote:

It'd probably be a safer bet to buy lottery tickets.




No way, ColoHank. Lottery is very very VERY remote chance of success.

Startups, new business initiatives and successful turn arounds have much higher odds. Me? Within big corps I had a 100% success rate in my business development (FYI, I worked for Apple too...).

Small Business? I have had quite a bit of success helping other small businesses and very successful on my own. I have certainly had projects fail, but have had numerous successes and related awards.

From my perspective, way better odds than the lotto, way better odds.

Jon, I think we will fight over the board position, but we can work out something

I would not kill parts of the product line. There are ways we can parley a complete solution.

I would not kill off manufacturing in Mexico - too expensive to do over, but I would certainly review operations as one should always do. I would expand manufacturing there and in the Southwest, likely New Mexico and/or Texas.

Meade is a powerful brand and has a rich history. I feel with the right players and the CN "buyers" it would be a juggernaut in the community. Not only supporting the hobby, but also areas in government, commercial and research.

FYI, if just 1000 of us kick in $20k this deal would be done swiftly.

Think about it...




Still pretty risky... Now if it were Patek Philliipe, I would invest 100K.


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Mike in Tampa
super member


Reged: 05/19/13

Re: The plot thickens (Meade takeover) [Re: Spacetravelerx]
      #5930267 - 06/19/13 10:52 PM

wish I had 20k to kick in, but I guess you can say I had the Million $$$ idea, even if I was 1/2 joking. Anyway, if you guys get this thing rolling count me in for a $1k.

and I do like the thought of bringing manufacturing back to the US. it's about time for the sake of this country to begin doing this at every opportunity.

It'll be the Green Bay Packers of the Astronomical world, publicly owned by a community driven by their love of the "sport" and not greed.


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Spacetravelerx
Carpal Tunnel


Reged: 12/23/12

Loc: New Mexico
Re: The plot thickens (Meade takeover) [Re: OleCuss]
      #5930270 - 06/19/13 10:53 PM

Quote:

I'm really enjoying the idea of a CN Meade take-over.

NOT going to happen. MITC is not going to bow out in favor of a CN bid. I'm betting JOC won't either.

If there were a serious CN bid to take over Meade, then there would be so much litigation it'd make my head hurt - and the delay in getting a resolution would likely doom Meade.

To me it is interesting to remember that Meade does not own the European Meade brand. Exactly how that came about might be a very interesting part of how MITC is involved and might have interesting implications for JOC and maybe for Meade's board depending on how the various contracts are structured.

The other thing that I find extremely interesting is that JOC seems to make a lot of the Meade scopes. So if MITC should buy Meade USA, would JOC still supply those scopes? For that matter, if MITC were to buy Meade, would there be contractual implications regarding JOC's ability to sell the scopes it makes in Europe?

I find all this fascinating and I'd not want to touch a deal like this unless I'd had a team of lawyers and accountants examining the structure, the contracts, and the markets for months and months. IMHO, it'd be foolhardy to launch another bid at this time.






I see no reason for a CN Meade take over not to happen. It will make news, that is for certain.

$6million or so will maybe give the ghost to the other bidders. Maybe the "CN Team" would do great business JOC. Maybe the CN Team joins up with one of the bidders?

Why do you think there would be litigation? Lawyers can be dealt with. Been there done, that. There is no value to anyone destroying Meade. Well, maybe a few jealous and/or ticked off folks, but the share holders would be wise to make money than lose everything.

So OleCuss - if we get enough in the pool you want to join the team?


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Spacetravelerx
Carpal Tunnel


Reged: 12/23/12

Loc: New Mexico
Re: The plot thickens (Meade takeover) [Re: Mike in Tampa]
      #5930273 - 06/19/13 10:55 PM

Mike,

$1k, $20k...it all helps!

You get 5,000 folks putting in this range you have a powerful brain trust going. It would be the Green Bay Packers of the Astro world!


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Ed Holland
Carpal Tunnel


Reged: 06/16/10

Loc: San Jose, CA and Oxford, UK
Re: The plot thickens (Meade takeover) [Re: Mike in Tampa]
      #5930275 - 06/19/13 10:57 PM

Very interesting. Could we do it? I might be tempted.

Ed


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GeneT
Ely Kid
*****

Reged: 11/07/08

Loc: South Texas
Re: The plot thickens (Meade takeover) [Re: Starhawk]
      #5930279 - 06/19/13 10:59 PM

Whatever--but in my opinion, our hobby is best served having both Meade and Celestron functioning as strong, well run companies. I don't know the intentions of the two parties interested in the acquisition. I just hope that the stock holders sell with the intention of doing what is best to ensure Meade survives.

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Spacetravelerx
Carpal Tunnel


Reged: 12/23/12

Loc: New Mexico
Re: The plot thickens (Meade takeover) [Re: Ed Holland]
      #5930289 - 06/19/13 11:03 PM

Quote:

Very interesting. Could we do it? I might be tempted.

Ed






Ed,

I think several folks may indeed catch onto this idea. My gut tells me there would be 1000 folks willing to invest $1k - $20k or more by Saturday. Another 4000 folks at least $400 by then.

Heck, if I had time right now I would start to keep a tally of the names, though I am heading to Washington DC for a bit of business there. Like I said, I want to play with my LX850, a wonderful kit, but I have lot's o' travel and work.

Then again, I could ask my team to help tally the names.


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Spacetravelerx
Carpal Tunnel


Reged: 12/23/12

Loc: New Mexico
Re: The plot thickens (Meade takeover) [Re: GeneT]
      #5930294 - 06/19/13 11:08 PM

Quote:

Whatever--but in my opinion, our hobby is best served having both Meade and Celestron functioning as strong, well run companies. I don't know the intentions of the two parties interested in the acquisition. I just hope that the stock holders sell with the intention of doing what is best to ensure Meade survives.




I 100% agree. A strong hobby - and community at all levels - is needed.

To be be blunt, I think there needs to be a meeting of the minds of ALL key players in a summit with all political agendas aside. This field needs the excitement of the glory days - and growth.


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cuivienor
professor emeritus


Reged: 10/07/10

Loc: Tokyo, Japan
Re: The plot thickens (Meade takeover) [Re: Spacetravelerx]
      #5930329 - 06/19/13 11:25 PM

Count me in for $5k.

Kickstarter anyone?


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Spacetravelerx
Carpal Tunnel


Reged: 12/23/12

Loc: New Mexico
Re: The plot thickens (Meade takeover) [Re: cuivienor]
      #5930343 - 06/19/13 11:33 PM

Quote:

Count me in for $5k.

Kickstarter anyone?




I was thinking Kickstarter, but then I thought this would be better as a "home brew" within our community.

Unless Rich was thinking of migrating this to Kickstarter...


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Starman27Moderator
Post Laureate
*****

Reged: 01/29/06

Loc: Illinois, Iowa
Re: The plot thickens (Meade takeover) [Re: cuivienor]
      #5930344 - 06/19/13 11:33 PM

This is the second thread on this topic by about a day and a duplicate thread. The original one is in the Meade forum.

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brucepech
member
*****

Reged: 04/18/12

Loc: Colorado
Re: The plot thickens (Meade takeover) [Re: Spacetravelerx]
      #5930353 - 06/19/13 11:39 PM

Two shares a $200 plus an additional $200 for operating capital is less than the cost of a new Nagler 31mm eyepiece (which I don't really need anyway). Another $400 to cover a share of the NOL if necessary. But I have to live on my pension and retirement savings so I'm tapped out at $1K.

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ColoHank
Carpal Tunnel
*****

Reged: 06/07/07

Loc: western Colorado
Re: The plot thickens (Meade takeover) [Re: Spacetravelerx]
      #5930378 - 06/19/13 11:55 PM

Quote:



Quote:
--------------------------------------------------------------------------------

It'd probably be a safer bet to buy lottery tickets.


--------------------------------------------------------------------------------



No way, ColoHank. Lottery is very very VERY remote chance of success.






Exactly.


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