Ben,
First, it is always nice to get inside information. Thanks Dano. It is a concern that a company is having problems paying their employees. Unfortunately, looking at their latest annual report, there is no hint of this. It is true that RICK has gone through a significant number of layoffs in the Tantra club and management in the hopes of returning to profitability. I am very surprised at Dano's report. I was more concerned about previous decisions the club made and the city ordinance.
My feeling is that regardless of how RICK treats dancers in Houston, they have been perceived by dancers in other states as being a reputable and fair company to work for. In a PIONEER PRESS article, an adult entertainment recruiter indicated that RICK was one of the top 5 clubs in paying high dollar to entertainers. A number of dancers from Minneapolis migrated to RICK in New Orleans.
The problem is that the topless industry in Houston has hit a plateau. In Houston, competitors to RICK have caught up. But not in Minneapolis and New Orleans where seedy, dirty strip joints still dominate the dance scene. I believe if RICK can expand in these areas, they will do well in the future, regardless of what happens in Houston. I see that future in 2 years.
I agree with Dano, it is at this time not a good investment when compared with the high rolling techs where dollars come easily with just as high a risk.
Again, thanks Dano for the information. It is greatly appreciated. |
