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Non-Tech : Paradise Entertainment (PDSE)
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To: Kincheloe who wrote (195)2/1/2000 3:31:00 PM
From: musicguy  Read Replies (2) of 208
 
As someone who knows all the principals involved, I feel compelled to say this: Paradise is in trouble. Rave is the only division that makes any money (although the video arm is treading water). The label (Push) and the management division are sucking money up and have no artists. Hall and Oates are not selling records and won't in the future (how many greatest hits records can you make?) and Blessed Union of Souls is a joke.

Rave consists of ONE good writer and several mediocre ones. They are ALL unhappy because the lions share of the money they bring in goes to pay the Paradise bills, before the rest is divided up between the head of Rave and the actual writer. ALSO, Paradise bigwigs were bright enough to bring in an efficiency expert to evaluate the writers, and see who is earning the most money. That made ALL of them very uneasy and very unhappy. The main writer is fed up with the whole situation and is capable of leaving and taking ALL of the clients with him, effectively destroying Rave, as no one else in the industry would want to work under those conditions.

Another note: The guy who is actually producing the Pokemon tv show has left. He will produce this season from outside the organization. This does not bode well for the KIDE/RAVE relationship. Also, it means that another guy with talent who has done a LOT of work there is gone and is taking his clients with him.

PDSE is a sinking ship and the addition of Bob Buziak is not going to save it. If anything the drain of his salary may hasten the demise. PDSE has been subletting a fair portion of their office space to others in order to help defray their expenses. This is NOT a good situation. If you see a pop, get out. I do not know the bottom line here, but I know the situation from the perspective of the people who work there. I believe the earnings report will be dismal.

The facilities are also still not together after 2 years. the main control room is still unoccupied leaving them unable to do any "real" recording. (actual non computerized sessions with actual musicians)

I am not now, nor have I ever been a shareholder, but I wish I could short it now. Even here it is overvalued.

An entertainment company with promise and actual management? Try EBLD.
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