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Author
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Topic: Cheyenne Mountain Death Watch (Read 164519 times)
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UnSub
Contributor
Posts: 8064
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The interesting thing to me is that CME + other defendants (including MMOGuls, the potential Amway of the MMO world) have gotten together to sue former Chairman of the Board Gary Whiting.
Gary Whiting's bio has been stripped off the CME site and the board appears to now be made up of investors.
Whiting's CME bio is spoilered below for reference.
Putting aside the virtue of the SGW MMO, what is going to kill any hope for the title is this kind of management fighting. Lawsuits, countersuits, injunctions, blah blah blah. Even CME earned buckets of cash from SG:R, it is all going to be tied up very quickly.
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Zhiroc
Terracotta Army
Posts: 16
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For those still following the tale, CME is in receivership atm. This was posted to their website recently (and it seems it was written by/for the receiver).
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Mrbloodworth
Terracotta Army
Posts: 15148
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OMG OUCH. That's a ton of money, and ton not paid to the workers, O.U.C.H.
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Hartsman
Developers
Posts: 80
Trion
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Disclaimer: IANAL, or finance expert, etc.
As much as I hate commenting on other people's situations, that whole thing sounds...hinky.
Especially when you factor out a few things:
CMG contributed the software, computers, furniture and fixtures and other assets associated with the operations and development of Stargate Resistance to FSS...
...concern was expressed about the FSS transaction and the perception that corporate assets had or were in the process of being stolen as a result...
...alternatively, shareholders need to put up additional funds in an amount to be determined that would be used to repay the FSS principals and cover future operating expenses...
The receivership order specifically allows the Receiver to “incur indebtedness” for the benefit of CME and CMG.
...Clearly, under the current circumstances, traditional borrowing from a bank or other secured type lenders is not an option.
(Disclaimer #2: wild unfounded, likely incorrect speculation below )
Implying that taking on unsecured debt from existing shareholders, for no equity, is perfectly hunky dory?
Best sales pitch ever: The assets are gone unless the existing shareholders lend us some money on faith. But they weren't stolen. Nosir.
Edited to add: Oh, hey, Schild updated my profile with the company name. In that case, disclaimer #3! My posting on forums has nothing to do with my employer etc etc. This is my personal yadda yadda.
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« Last Edit: March 27, 2010, 05:31:03 PM by Hartsman »
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Shatter
Terracotta Army
Posts: 1407
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Ive followed this game for years and Ive pretty much given up on it even though Im a big Stargate fan, at least until I see something "positive" from them instead of the past year and a half of all bad news or no news at all
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Ollie
Terracotta Army
Posts: 202
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Incompetence, intrigue, arrogant douchebaggery and even the makings of a vapourware Ponzi scheme. Oh MMOG industry, thou truly art a gift that keeps on giving - though in this case purely from a callous and cavalier vantage point.
My sympathies to the people who lost their jobs. Having been in a pinch a few times during my career, I wouldn't wish this kind of nonsense on anyone.
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Hug me, I'm Finnish!
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Jerrith
Developers
Posts: 145
Trion
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OMG OUCH. That's a ton of money, and ton not paid to the workers, O.U.C.H. Payroll wages of over $1.1 million dating back to March of 2009 remain unpaid. While I'd like to say this means I picked the perfect time to leave (my last day at CME was the last day of Feb 2009), more realistically, I suspect it means that there are people (likely execs) that agreed to delay their payments due to the situation. While other, normal (former) employees are likely missing some money, I suspect it's not a year's worth. Personally, the point I'd be more interested in hearing about is if the transfer of assets to FSS included Stargate Worlds, not just what was used for Stargate Resistance. Not that I suspect it matters much. I'm not a lawyer, but I wouldn't be surprised if the transfer wasn't approved. I'm sure SGW is dead, but at the same time, I do still wish it was released... Thanks for the link Zhiroc, I might have missed it otherwise. :)
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Shatter
Terracotta Army
Posts: 1407
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I would be curious to find out just how close SGW was to launch. Based on their last expected launch time they realistaclly should of only been about half a year away.
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Malakili
Terracotta Army
Posts: 10596
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I would be curious to find out just how close SGW was to launch. Based on their last expected launch time they realistaclly should of only been about half a year away.
It seems like they were pretty much pressing the panic button with the Stargate: Resistance thing, trying to release it as a last ditch effort to fund the rest of the development. My point being, they weren't close if they didn't have the money.
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Jerrith
Developers
Posts: 145
Trion
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Half a year, maybe a bit less, with a fully staffed team of motivated people who were experienced with the game seems fairly reasonable to me. In terms of the schedule, I believe it was just over half a year when the first problems started and productivity dropped dramatically... That might have been a little aggressive, but it probably wasn't too far off.
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WindupAtheist
Army of One
Posts: 7028
Badicalthon
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I would be curious to find out just how close SGW was to launch. Based on their last expected launch time they realistaclly should of only been about half a year away.
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"You're just a dick who quotes himself in his sig." -- Schild "Yeah, it's pretty awesome." -- Me
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Riggswolfe
Terracotta Army
Posts: 8024
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My only concern is that this doesn't boil over to my favorite tabletop RPG company in some way. A guy named Shane Hensley was involved with this company (and Cryptic at one time.) He was the designer of an RPG called Deadlands which became the foundation for an awesome pen and paper RPG called Savage Worlds. I don't know how much connection he still has with the RPG company but I'd hate to see something crazy where this blows over onto this unrelated company.
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"We live in a country, where John Lennon takes six bullets in the chest, Yoko Ono was standing right next to him and not one fucking bullet! Explain that to me! Explain that to me, God! Explain it to me, God!" - Denis Leary summing up my feelings about the nature of the universe.
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UnSub
Contributor
Posts: 8064
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Shane Hensley was working on the Deadlands MMO at CME. Shane went from being the head of one of CME's studios to the overall producer (or some kind of larger position) for FireSky / CME, likely because he was still earning some money form Pinnacle and wanted to see his Deadlands MMO finally get up.
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Muzadi
Developers
Posts: 14
Gazillion Entertainment
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Shane Hensley was working on the Deadlands MMO at CME. Shane went from being the head of one of CME's studios to the overall producer (or some kind of larger position) for FireSky / CME, likely because he was still earning some money form Pinnacle and wanted to see his Deadlands MMO finally get up.
Yep, Shane still runs Pinnacle. I can vouch that he's a fantastic guy both personally and to work with. I don't think there's anything that could happen at Cheyenne though that would cause any damage to Pinnacle proper.
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UnSub
Contributor
Posts: 8064
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I'm pretty sure Pinnacle is completely separate from CME. Hensley made the jump from Creative Director to Head of CME imprint Superstition Studios, which is where the Deadlands MMO would have been developed, and then onto positions like FireSky Studio President and CME President. Heh, you made me look at his LinkedIn profile - turns out he's now Studio Head at Dust Devil Studios, which looks entirely separate to CME. Maybe the Deadlands MMO will appear after all.
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