#Commodore Sale
30 messages in this thread
Here is an update on the Commodore situation:
The liquidator is near a definitive agreement with C=Uk on the purchase
of the remains of Commodore. The liquidator had hoped to have it all wrapped
up by today, Friday, but there are some details still remaining. The details
are being left in the hands of the lawyers for the two sides and they are being
given until Nov. 4 to wrap things up. The liquidator will report to the
Bahamian Court on Monday that the two sides are very close to a deal. After
the deal is reached, other parties will have a chance to top the C=UK bid.
C=Uk says it also will have a chance to bid as well, in case someone surpasses
their bid. The liquidator, Franklyn Wilson, also said he is near agreement
with U.S. creditors on a compromise solution so that the thing won't be held up
in the U.S. courts. The agreement is necessary because about 30 percent of the
assets C=U.K. hopes to acquire are held by American subsidiaries, including the
Amiga subsidiary, which is incorporated in California.
CEI intends to bid in the auction. Escom may also still be involved,
but I haven't quite figured out where or how. It still ain't over. Maybe
when the first snows fall.
— Dan
Thanks for that update.
Any info on why the liquidator is closing in on the C= UK bid, and not
CEI? Was it purely the money?
Also, I'm a bit stumped about this "auction". I thought this liquidation
stuff was all to pick the group that would get the C= remains. You're
saying that Wilson is going to choose a group, and then the remaining
groups can outbid the choosen group?? I thought Wilson was doing that all
this time already! What's the point of choosing a group before the
auction?
Steve —
The auction is part of the compromise being worked out with the
American creditors, as best I understand things. They want to be absolutely
convinced they are getting the highest price. It is part of U.S. bankruptcy
law, but not U.k. or Bahamian law, which are similar.
He zeroed in on the C=U.K. bid basically, as I was told, because CEI
didn't want to go first. They wanted to be in a position to top C=UK's bid.
— Dan
At the rate things are going, they'll have to issue a pamphlet at the auction
explaining what an Amiga was, because nobody living will have any idea. <g> –
Alex… Still Whap!'n after all these years…
PMFJI, I have a question. Why can't CEI and C=UK simply pool their resources?
It seems that they both want the same thing: the Amiga to survive, thrive, and
flourish. Is it a just a disagreement as to how this should be done, or do
they *have* to remain seperate?
Charles —
>It seems that they both want the same thing: the Amiga to survive,
>thrive, and flourish.
They both want the same thing: to run a profitable business. When you and
someone else both want the same thing, do you always join forces?
The key question here is resources. Whoever, ends up with the rights to
the Amiga is going to have to have lots of capital to fund advertising and
R&D costs. It seems logical that C= UK and CEI could accomplish this much
better if they pooled their resources. Unfortunately their financial
backers may not be willing to back a joint venture as it muddies the issue
of accountability.
-mls
"When the eagles are silent the parrots begin to jabber"
-Sir Winston Churchill
I got the impression that C=UK only wanted to make A1200s anyway. Why not
split the deal, letting C=UK make the A1200, and CEI make and reap profits from
A4000 type machines. That still leaves the CD32, however . . .
Stephen,
Splitting up the rights to the A4000 and A1200 is not so easy. Both
machines are built with common technology: AmigaDOS & AA Chips. The A1200
is already in some respects a technological dinasaur. Apple doesn't even
make a machine with a processor slower than an 030 anymore. Both the A4000
and A1200 will need to be redesigned and updated if they are to compete in
the marketplace. I think two key factors for survival of both machines is
cross-platform compatiblity and CPU speed. In the not too distant future
most if not all computers will be running RISC technology, which addresses
both of these factors. I hope that whoever "wins" the rights to C= has the
wisdom to bring the "losers" on board. If the technology is to survive and
grow, the Amiga Community is going to have to pool and share resources.
This is truly a case of united we stand, divided……..
-mls
"When the eagles are silent the parrots begin to jabber"
-Sir Winston Churchill
You're absolutely right. They really should use 030s in the 1200 amd at
least 40MHz 040s in the new 4000s.
DJ
On AP from Queens, the thrill and excitement of the Big Apple
Where a little paranoia keeps you healthy and sane …
>>I hope that whoever "wins" the rights to C= has the wisdom to bring the
>>"losers" on board. If the technology is to survive and grow, the Amiga
>>Community is going to have to pool and share resources. This is truly a
>>case of united we stand, divided……..
If CUK wins as Amiga International, then I'm sure CEI will be happy to get
sole distribution rights for North and South America, and possible
Australia. And I'm sure that AI will be happy to let them have it as they
will sell more machines but not have to outlay money to do it – the
disributor will.
If CEI wins, I'm sure they would be happy to keep CUK supplied with
machines…
wmc – via Autopilot!
C=UK have been making very good noises about future Amigas other than the
A1200. Of course, until the sutuation is resolved they are just noises,
but the point is that C=UK is interested in much, much more than the
A1200.
Jeff Walker – Just Amiga Monthly
This endless hassle on trying to top each other is going to result in neither
ending up with a profitable business. This should have been settled months ago
– but with the lawyers getting paid hourly, they don't have any advantage in
doing so.
Disgustedly, Mike
CEI and C=UK each want control of the company. Each thinks it would do a
better job in advancing the technology and running the business.
— Dan
"Gee Mr Wilson. why is it taking you so long to make a decision? They'll
never make an Amiga version of Myst as long as you sit around and do
nothing." "Well Dennis, there is more involved here than your desire for
new computer games. I have to be fair, take my time, do whats right."
"Is that why you are on the phone with that man Ali Baba all the time?
"Dennis, shame on you. It's not polite to eavesdrop on peoples personal
conversations. All I can tell you is that Mr Baba is a good man. He is
definately not the black sheep that some people make him out to be. If he
was, I certainly wouldn't work for him!"
"Thanks Mr Wilson, I feel better already knowing that you and Mr Baba and
that other man Mr Goood are looking out for the interests of little guys
like me who just want to play with their Amigas."
-mls
"When the eagles are silent the parrots begin to jabber"
-Sir Winston Churchill
You know, with the Amiga involved I shouldn't be surprised that there is a
bit of drama in all this. 🙂 Will be a closed, multi-week auction held
by the liquidator? Very interesting. You have to wonder where that
German company fits into all this too.
Dang! Another three weeks! Will this thing ever end??!!! I tell you,
this whole thing is being dragged out surreptitiously by CIS so they can
cash in on idiots like me who sift every danged message looking for the
bitiest dregs of information!
Oh, well … many thanks for the juicy dreg, Dan. I'll have to put
something for you in my will <g>.
DJ
On AP from Queens, the thrill and excitement of the Big Apple
Where a little paranoia keeps you healthy and sane …
>Dang! Another three weeks! Will this thing ever end??!!<
Probably not! At this points I've seen so many deadlines, false reports of
sales, rumors, and "we'll definitely know one way or the other by this
date" posts that I'm pretty much numb to it by now. As when Commodore was
still around it seems the "future" of the Amiga is still in the hands of
the Keystone Cops.
I still hang around because it will be kind of interesting to see what if
anything will eventually happen but it looks like short term financial
gain is still the only real motivation. Sadly, at this point I've pretty
much given up hope that anything substantial will really happen.
Perhaps a better question would be, when this thing does finally end will
anybody really care anymore?
Greg
To this thread an info about Escom: The company plans to raise there
capital stock. At this time the german electronic company Siemens-Nixdorf
is going to buy 10 % of Escoms share capital.
bye,
Lothar
Lothar Bartsch
eMail: switch@doom.ping.de
Lothar,
Oho, that makes things very interesting!
Regards,
John Chang
}} It still ain't over. Maybe when the first snows fall.
Well, it's snowing in the mountains here in Colorado.
Or was you referring to the Bahamas? 😉
-wjas {;-{)}
No, I was referring to the flatlands of Philadelphia. Though it is beginning
to look like we may have to wait for the first snowfall in the Bahamas.
— Dan
The ground rumbles and quakes, a large cracking noise is heard, the earthe
becomes icy cold for a brief instant, and it starts snowing in the Bahamas. We
finnally know what has happened to the Amiga and hell has frozen over. Harry M.
It's also snowing in the mountains here in Jackson, Wyoming. 🙂
>>The agreement is necessary because about 30 percent of the assets C=U.K.
hopes to acquire are held by American subsidiaries, including the Amiga
subsidiary, which is incorporated in California.<<
Dan, I thought when Commodore acquired Amiga in 1985, it was no longer a
subsidiary. The information, as it's posted here, sounds as though it remained
a separate corporation, or a silent business unit of CBM. The last time we
checked (1991), the Amiga building in Los Gatos had been abandoned for years
and the big Amiga sign in front of the building could be found in someone's
office at NewTek. Did Amiga, Inc. of California quietly remain a separate
company?
Tim
Commodore-Amiga Inc. holds all the good intellectual property, unless
someone transfered something again at the last minute.
I believe that company is just the renaming of Amiga, Inc. when Commodore
bought it. That a building in Los Gatos was closed isn't relavant to the
legal entity.
Commodore was a huge messy maze of distinct corporations. Lawyers and
accountants continuously jugled various parts in order to achive various
ends.
Is Commodore-Amiga, Inc. a California-based company? If so, is it the one that
Dan is referring to in his most-recent post?
Amiga, Inc. was incorporated in California. If Commodore just changed the
name when they bought it, then yes to both questions, but I don't know for
sure.