This is a story about the closing up shop of the Podesta Group. This might give you, as Ms. RightAngles might say, “a terminal case of schadenfreude.”
“The firm as it existed is essentially over,” one Podesta Group staffer said. “The vast majority of people are going their own way.”
At an emotional staff meeting late Thursday afternoon, Fritts told staffers they could clear out their offices and said that Wednesday might be their last payday. “We will try to compensate you on the 30th, but we can’t make any promises,” Fritts said, according to one staffer who was in the meeting. …
…
“I kind of feel like the ball’s in his court after last night,” one Podesta Group staffer said, referring to Podesta. “His name’s on the door. It’s his firm.”
Staffers are wondering why a firm that brought in $24 million last year suddenly can’t pay their salaries, and why Podesta and Fritts were unable to strike a deal to transfer ownership of the firm. “There’s a lot of anger at Tony because of that,” one Podesta Group staffer said.
Some Podesta Group lobbyists are now planning to join Fritts at her new firm, which The New York Times reported on Friday would be named Cogent Strategies. Others are considering joining rival lobbying firms or starting their own shops.
https://www.politico.com/story/2017/11/10/podesta-group-last-days-244799
They seem to be genuinely surprised to find that nobody wants to pay them the outrageous fees they were able to charge back when Hillary was still viable.
“Staffers are wondering why a firm that brought in $24 million last year suddenly can’t pay their salaries, and why Podesta and Fritts were unable to strike a deal to transfer ownership of the firm.”
Hmmm. Because the firm is awash in debt?
I don’t know about the debt. But I bet they have not signed any new contracts of real value since last November. They simply cannot demand the fees they could while they could sell access to Queen Hillary.
If the firm is sold, all the records of financial transactions become the property of the new owners.
Buying this firm would be as safe as buying the accounting firm for a Narco Cartel.
Now that’s a darned good point. I am guessing about debt, wondering what would make the thing radioactive, even after factoring in all of the Clinton name-association poisons. As-yet undisclosed debt is one way. The ability to disclose Clinton finances, with the accompanying deleterious effects on one’s life expectancy, is certainly another!
Good point. That explains why they could not find a buyer. They probably wanted to sell the firm without fully disclosing its financial history. I bet they could not get anything close to the price they thought the firm was worth on account of nobody would pay without a review of the numbers. Otherwise, you have to assume that they got inflated fees on account of their access to the Clintons, which would be trading at a much lower value these days.
Off Topic, but may I say, it’ good to see you here, Bubba.
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Ms. TempTime, I have been lurking here pretty steadily ever since August, when I figured out that I was wrong about Ricochet. I had thought that a few months of conservative victories by Team Trump would improve things, but Scott I. is leading the staff in doubling down on Never.