Inner West Crew Whoretown (toowong/st Lucia/kenmore/indooroopilly And Sometimes Sunnybank?)

[Smity42]

Damn Chris

Morning Mangs, TFIF

[-Boz-]

I wouldn't have called Wow a blue chip company, not like they are even close to a similar level as Telstra, BHP or the banks...

But most sucky for you mate. Any chance of a partial recovery at least? I know most times a company goes into receivership creditors get screwed to the wall but they get something back at least, even if it's only 10c in the $.

[Chris Rogers]

they 'were' on the ASX. yes it sucks. I am trying to work an angle with the admins - not succeeding..

- enough from me for the day - going to GT auto to strip down ruzic's car and finish that off.

[-Boz-]

Also, I'd be curious to look at the whole financial situation for Wow to see what caused the collapse. I remember when ADR (parent company of Crazy Clark's) went into receivership they had just posted quarterly profits above expectations and showing year on year growth. They were a thriving, profitable business. However one of their lenders got spooked by the situation in America and called a loan for several millions of dollars which ADR were unable to meet on such short notice which caused the company to fold.

I know Wow had aprox $50 million in debt split between one of the big four (thinking NAB) and creditors but unsure past that. Can anyone enlighten me as to what caused the collapse?

[Smity42]

My understanding is they weren't making money, they went into voluntary administration a while ago.

They owed 25 mil to one of the big 4 (ANZ? NAB?), and when they couldnt make payments they forced them into receivership on tuesday

[Chris Rogers]

bank was NAB. they fell over once already and got a bailout. 2nd time though NAB cried enough.

kinda what you get with 5% margins..

[Smity42]

Bloke is coming to look at my XF this arvo

If that goes, it there would be a convenient spot in the yard to park a leopard...

[FineLine]

they 'were' on the ASX. yes it sucks. I am trying to work an angle with the admins - not succeeding..

- enough from me for the day - going to GT auto to strip down ruzic's car and finish that off.

How much shit have you pulled out from under his dash, Habib feels like he's been to Jenny craig since you did the number on all the junk wiring under there.

[ARE31]

Bloke is coming to look at my XF this arvo

If that goes, it there would be a convenient spot in the yard to park a leopard...

I'm liking the sound of that

[Smity42]

I'm liking the sound of that

Ring Dazz and get his RWC guy to road worthy it

[ARE31]

Sorry mate I don't have Dazz's number anymore. Plus I think his guy is pretty strict. Just having a chat with a mate trying to sort something out for you though.

Edited March 9, 2012 by ARE31

[-Boz-]

Le sigh, still awaiting assessors to get back to me taking their sweet ass time.

[ARE31]

Hey can anyone tell me is there any visual differances between an R32 & R33 RB26dett?

[Bunta]

Hey can anyone tell me is there any visual differances between an R32 & R33 RB26dett?

I do not beleive there is.

[Smity42]

XF is sold... the gods of the north must want me to buy a leopard...

[Chris Rogers]

How much shit have you pulled out from under his dash, Habib feels like he's been to Jenny craig since you did the number on all the junk wiring under there.

more than habib, put it this way all of his stuff is gone . he can put it back there. GT did the engine bay - I did the inside.

put it this way if someone so much as sneezes on that car he (and I) will know about it and both of us have the ability to do something about it as well.

still have to finish it off. can't seem to stay on it any more than 4 hours at a time.

[boiracer]

wrangling PKF for money (wow audiovisual admins) seems to be pointless.. its amazing how bluechip companies can f**k up and majorly screw over everyone else in the process.. lesson learned - stick with small business.

(been a horrible two weeks and I'm slightly pissed off after losing $2500 to these fk'wits.)

i know the feeling, this is why we dont build pools for builders anymore....its amazing how many companies disappear every year.

one thing i have learnt thru all this.....shiney cars and the illusion of money in a company REALLY doesnt mean success.

[Chris Rogers]

yep!

learned that with SCR years ago. all of those guys were putting around in MBs and we all see where that went..

when they offered shares I passed on the idea. lots of people lost money there. same as all of those that are left holding gift vouchers for wow av.

not a happy camper.

[Country Cruzin]

anyone goin to the test n tune at willowbank tomorrow nite?

[Smity42]

I feel a little bit like a drug dealer right now...