Jay-Z is being investigated by the SEC over $200m Rocawear sale to ICONIX

[Nemesis]

Jay-Z Cashes in With Rocawear Deal




Sorry breh, this hurts me to, Baby, Jay, 50, these are all people I idolized growing up, I feel your pain.

lol.... Im not in any pain .... I just know how to read and actually know what a supeona is because Ive been served with quite a few in my time ....


the headline you posted would be relevant if it was Rocawear being investigated but its Iconix .... once again if you arent the CFO CEO or even senior management , or even working in the accounts department you arent expected to know about the finances of a company

 

[blackzeus]

lol.... Im not in any pain .... I just know how to read and actually know what a supeona is because Ive been served with quite a few in my time ....


the headline you posted would be relevant if it was Rocawear being investigated but its Iconix .... once again if you arent the CFO CEO or even senior management , or even working in the accounts department you arent expected to know about the finances of a company

Unless you were the guy that owned it previously and sold it to the current owner with a line of credit from a now bankrupt (due to deals like these) publicly traded investment fund that was issued greatly in part to the revenues that Rocawear was purportedly generating at the time you were the owner

 

[Nemesis]

Unless you were the guy that owned it previously and sold it to the current owner with a line of credit from a now bankrupt (due to deals like these) publicly traded investment fund that was issued greatly in part to the revenues that Rocawear was purportedly generating when you were the previous owner

Like I said before ... hes likely being supeonad so they can use his evidence to build a case against Iconix

trust me on this if the feds think you are guilty on anything they arent serving supeonas they are serving arrest warrants .... know that and learn


once If you buy a company from me Im not responsible for how you generated the funds ....

 

[blackzeus]

Like I said before ... hes likely being supeonad so they can use his evidence to build a case against Iconix

trust me on this if the feds think you are guilty on anything they arent serving supeonas they are serving arrest warrants .... know that and learn


once If you buy a company from me Im not responsible for how you generated the funds ....

You are responsible if the company generated the funds used to purchase your company based on your income statements. That is textbook accounting fraud breh. Feds play chess not checkers. They need probable cause before getting wiretaps, delving in to your personal financials, etc etc. You not willing to honor a subpoena and testify/snitch against somebody who is writing down a company you are still part of and that you founded is probable cause for an investigation. Hopefully his Masonic connections will save him

 

[10:31]

You are responsible if the company generated the funds used to purchase your company based on your income statements. That is textbook accounting fraud breh. Feds play chess like checkers. They need probable cause before getting wiretaps, delving in to your personal financials, etc etc. You not willing to honor a subpoena and testify/snitch against somebody who is writing down a company you are still part of and that you founded is probable cause for an investigation. Hopefully his Masonic connections will save him

Christ

 

[ReasonableMatic]

F*ck Wall Street ramifications what are the physical well being ramifications of snitching on Russians?

Spoiler

 

[SAJ!!]

the Coli must be home to some of the dumbest people on the planet .....

how does SEC investigating Iconix become SEC investigating Jay Z ????

its like some of you are legitimately stupid ...lol

it doesnt take a 5 year old to guess that Jay is amongst quite a few companies/individuals supeonad by the feds whilst they investigate the company... duh

That's what I was thinking.

Folks just want to see somebody's downfall so badly that they just make up anything to justify that mindset.

Or it IS because that people are just legitimately stupid.

 

[blackzeus]

That's what I was thinking.

Folks just want to see somebody's downfall so badly that they just make up anything to justify that mindset.

Or it IS because that people are just legitimately stupid.

Other people are smart enough to have a few hundred no name shell companies and a couple bagmen standing in between them and a shady deal, and stay the f*ck out of the limelight. Rappers brag about their shady deals, that's how they keep getting caught up.

 

[SAJ!!]

Other people are smart enough to have a few hundred no name shell companies and a couple bagmen standing in between them and a shady deal, and stay the f*ck out of the limelight. Rappers brag about their shady deals, that's how they keep getting caught up.

FOH with this gloom and doom crap.

 

[blackzeus]

FOH with this gloom and doom crap.

SEC is all gloom and doom breh

 

[SAJ!!]

SEC is all gloom and doom breh

If Jay messed up, he messed up. If he didn't, he didn't.

Like I said before, you just want to see someone's downfall. Let's be real.

 

[blackzeus]

If Jay messed up, he messed up. If he didn't, he didn't.

Like I said before, you just want to see someone's downfall. Let's be real.

I came into this thread correcting some statements that were made that I deemed to be inaccurate/far from reality. And I already mentioned in this thread Jay was one of my idols. As time passes on it seems all these nikkaz are fake, it's very depressing. Next thing I'm gonna find out is that Public Enemy were some COINTELPRO nikkaz

 

[Man]

So what you're saying is that you can't find one company that sold for less than half of what it grossed in one year? Why am I not surprised? I already posted an article from the NYT stating that Rocawear had 700 million in gross sales and Iconix projected royalties of $43M (by the way which was something I mentioned in my first post in this thread that nobody else did when discussing valuing an apparel company). Based on the royalties $200Ms is fair, but you can sell the royalties without selling the whole business. Again, if a company is grossing $700M it's a billion dollar company. It's hard to find somewhere to park a billion dollars, so you usually find something that has enough cash flow and you take it from there. That's why you see a lot of big buildings and hotels go for billions of dollars, because people and hedge funds need to park the money somewhere, and even more so if it's a foreigner with dirty money. So if it was REALLY grossing that much Jay Z sold it for cheap, and then to further write it down is crazy. You bought the company for 5x royalties, what is there to write down? Also note in the article the company was sold with a line of credit from the now bankrupt and non existent Lehman Brothers. We're talking about hella retirement funds that lost money with Lehman Brothers. The only way all of this makes sense is that values were inflated from the very inception, Lehman got conned, money got washed, now the income is so low there isn't enough revenue to hide dirty money so they write it down. It was fun while it lasted

I don’t understand what you’re not getting. Are you business illiterate or just want to argue for nothing because you even say it yourself - that according to you if you consider the royalties then 200M was a fair number and not a red flag. So you’re agreeing that using the 700M revenue alone as a measure of the value of a business isn’t enough.

 

[blackzeus]

I don’t understand what you’re not getting. Are you business illiterate or just want to argue for nothing because you even say it yourself - that according to you if you consider the royalties then 200M was a fair number and not a red flag. So you’re agreeing that using the 700M revenue alone as a measure of the value of a business isn’t enough.

No, I'm saying that you could have sold the royalties in and of themselves for $200M without selling the company as a whole. And royalties are paid regardless of sales. If a store is carrying your brand in a store they have to pay a royalty. That's why branding is such a big business, because a certain brand will get people to come into a store and look around and possibly buy other sh*t. What I am saying is that a company that is legitimately grossing $700M is worth FAR, FAAAAAAAAAAAAAAAAR more than $200M. $43M a year in royalties is more than enough to service a 2 billion dollar loan (probably a much closer figure to what Rocawear would have been worth had it legitimately been grossing $700M/yr), let alone a $200 million dollar loan. That is the epitome of bad deals from someone that is supposedly a good businessman. As far as as I know stores like Ross and Marshall's still carry Rocawear. So to go from $43M in royalties to ZERO when you're product is still in the stores is a big red flag, specifically because THIS IS A PUBLICLY TRADED COMPANY. You can't just write off somebody's retirement money like that breh, at the end of the day somebody has to take the L when a company gets written down, and it usually ends up being hedge and retirement funds, all which have mainstream America's money, which is why the SEC watchdog has to get involved. This is exactly why oftentimes CEOs of these companies commit dat or get found in a pool somewhere. We have a company that based on its stated gross revenue and sold for roughly $.30 cents on the dollar, and then despite that incredibly discounted price still manages to go bankrupt?

 

[Man]

@blackzeus

Instead of me read all a that, I thought I’d use the same time to do you a favor by searching YouTube for the shortest video on the methods for calculating the value of a business