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Thread: Interesting read in Commercial Appeal

  1. #1

    Interesting read in Commercial Appeal

    Saw this and wondered what it is that EPE jumps the gun on business deals that never come to pass. Since 1982, they have been planning the ultimate Elvis Museum, an indoor theme park in Japan, and even a new hotel as mentioned as far back as 1986, which even seemed to be a "done deal". None of it has yet to happen. Yet we have crazy merchandise.

    25 years ago: 1986

    This week or next a sign with a picture of a hotel will be erected on some choice real estate facing Elvis Presley Boulevard. It's a small step, but one of the first visible indications that a $10 million-$11 million hotel will be built next to Graceland. Some nine acres beside Graceland's north fence will be purchased by November with construction slated to begin in January or February, one of the owners of the Graceland Hotel By Royce said yesterday.
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  2. #2
    TCB Mafia debtdbruno's Avatar
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    Re: Interesting read in Commercial Appeal

    true, they'd do well to keep it buttoned till it was a sure thing.......
    "NO-ONE, BUT NO-ONE,IS HIS EQUAL, OR EVER WILL BE. HE WAS, AND IS SUPREME".Mick Jagger

  3. #3
    International Level rickb's Avatar
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    Re: Interesting read in Commercial Appeal

    it's a bit red-faced for them to announce things that don't come off.

  4. #4

    Re: Interesting read in Commercial Appeal

    These unprofessional ways of jumping the gun and going public with project announcements and developments is why many projects failed to happen over the years. Jack Soden is not at all a good businessman and has failed miserably over the past near 30 years since Graceland opened publicly. He doesn't know how to close deals. Such as the hotel, the proposed tv network in the 90's, and the museum that Soden himself bragged about to the media back in 1992. Almost 20 years later, it has yet to be built.

    Soden is 64 years old and eligibile for retirement. So why he is still clinging to that CEO position is mind boggling. He needs tos tep down and allow someone with desire, passion and vision to take over. Someone like Simon Fuller would be ideal. I now feel that as long as Soden is in charge we will never see the expansion or changes that have been in the works for decades. Time has passed him by and he's lost touch with the 21st century society. He's what I call a small window dealer. Never takes chances and plays it safe. Just like Colonel Parker.

    Anyway, that's my vent for the day.
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  5. #5
    TCB Mafia KPM's Avatar
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    Re: Interesting read in Commercial Appeal

    Quote Originally Posted by vivaelvis View Post
    These unprofessional ways of jumping the gun and going public with project announcements and developments is why many projects failed to happen over the years. Jack Soden is not at all a good businessman and has failed miserably over the past near 30 years since Graceland opened publicly. He doesn't know how to close deals. Such as the hotel, the proposed tv network in the 90's, and the museum that Soden himself bragged about to the media back in 1992. Almost 20 years later, it has yet to be built.

    Soden is 64 years old and eligibile for retirement. So why he is still clinging to that CEO position is mind boggling. He needs tos tep down and allow someone with desire, passion and vision to take over. Someone like Simon Fuller would be ideal. I now feel that as long as Soden is in charge we will never see the expansion or changes that have been in the works for decades. Time has passed him by and he's lost touch with the 21st century society. He's what I call a small window dealer. Never takes chances and plays it safe. Just like Colonel Parker.

    Anyway, that's my vent for the day.
    Your opinion about Mr. Soden is not evidently shared by CKX-since he continued on for the last 7 years as head of EPE-and also still in charge under Apollo.
    Many companies and businessmen announce "tentative plans" for expansion, or developement that do not come to fruition.
    The Japan deal was not a deal that EPE started-they were contacted with the idea by a group of Japanese businessmen who had credentials... the deal was a licensing deal where EPE would get a fee, plus a percentage of the merchandising and gate and EPEs only investment would be the name and likeness of Elvis......but the whole deal was predicated on financing the group said it had secured-and that fell thru.
    EPE set the standard in pioneering the marketing and protection of image of dead celebrities.
    Their operation has been praised in many business publications and modeled by the Wayne family, the Nelson family, the Jacksons, and even the families of Lugosi, Karloff, and Cheney have followed their lead.
    EPE has grown nearly every year since opening, (perhaps not in the direction or to the satisfaction of some) and as long as Apollo allows him to run the operation he should not be forced out because of age (which is discrimination and illegal in this country)
    I recall that Sillerman was the wiz kid who was touted as the brains needed in 2004-now its Fuller.
    I do not think Fuller would like running EPE-perhaps running Apollo is more his style.
    Work in Progress!

  6. #6

    Re: Interesting read in Commercial Appeal

    Simon Fuller has made no secret that he wants to have full control of the Elvis empire, which includes EPE Inc and the music catalog. That was why he tried to buy up CKX but they refused to sell it to him at his offer of $600 million. They ended up selling to AGM for much less at $509 million. They should have taken Fuller's offer.
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  7. #7
    TCB Mafia KPM's Avatar
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    Re: Interesting read in Commercial Appeal

    In any offer "the devil is in the details" and since we are not privy to the "details" its hard to know the full extent of the offers made.
    Work in Progress!

  8. #8

    Re: Interesting read in Commercial Appeal

    Quote Originally Posted by KPM View Post
    In any offer "the devil is in the details" and since we are not privy to the "details" its hard to know the full extent of the offers made.
    Here's the details and in print. A spokesman for EPE (then known as Graceland Enterprises) announced it. http://news.google.com/newspapers?id...nd+hotel&hl=en

    And here's another. Middle section at the top where it talkas about all the "planned" projects. All of which none have yet to happen. And that was in 1986. http://news.google.com/newspapers?id...nd+hotel&hl=en

    If you Google Graceland Hotel from 1986 there's a dozen or so news articles on it that comes up.
    Check out my new blog about Elvis Presley @ http://elvis21century.blogspot.com/

  9. #9
    TCB Mafia KPM's Avatar
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    Re: Interesting read in Commercial Appeal

    Quote Originally Posted by vivaelvis View Post
    Here's the details and in print. A spokesman for EPE (then known as Graceland Enterprises) announced it. http://news.google.com/newspapers?id...nd+hotel&hl=en

    And here's another. Middle section at the top where it talkas about all the "planned" projects. All of which none have yet to happen. And that was in 1986. http://news.google.com/newspapers?id...nd+hotel&hl=en

    If you Google Graceland Hotel from 1986 there's a dozen or so news articles on it that comes up.
    I was not referring to details about proposed 25 year old projects, I was referring to the $600 million deal by Fuller and others..........
    Just announcing a large offer does not give the complex details of most large business deals- how the offer is to be paid, the amount of the offer that is leveraged, the amount of the offer that is cash, the amount that is stock (common or preferred) and from what companies, the financial instututions involved in the deal, who will be in charge after the sale-and if people are swept out-what is the cost for buying out their contracts and options..... just a few of the myriad of details that have to meet the approval of both parties and their lawyers. So if an offer falls thru or does not meet fruition-there are hundreds of reasons beyond the publics view.
    Its not like buying a used car
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  10. #10
    TCB Mafia KPM's Avatar
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    Re: Interesting read in Commercial Appeal

    Here is a link to a few major announcements of huge investments in just the state of Florida in the last 50 years that just for various reasons did not happen....Such as "Bible World" "Blockbuster Park" "Hurricaine World" "Little England" "Paris USA" "Roy Rogers Western World" "Charlie Daniels Western World and Theme Park" "Winter Wonderlando" etc.....
    http://www.lostparks.com/never.html
    Work in Progress!

  11. #11

    Re: Interesting read in Commercial Appeal

    Quote Originally Posted by KPM View Post
    Here is a link to a few major announcements of huge investments in just the state of Florida in the last 50 years that just for various reasons did not happen....Such as "Bible World" "Blockbuster Park" "Hurricaine World" "Little England" "Paris USA" "Roy Rogers Western World" "Charlie Daniels Western World and Theme Park" "Winter Wonderlando" etc.....
    http://www.lostparks.com/never.html
    All those failed plans had three things in common.

    1.Lack of funding.
    2.All were theme parks.
    3.All lacked mainstream interest.

    Under Sillerman, CKX and EPE were limited in funding since it was a small public entertainment business. That is no longer the case. Apollo is a private equity firm with a $850 BILLION networth. In other words, if Apollo feels the need to expand Graceland then it will happen as they won't have to seek out or wait for funding. They do their own funding. That is how they restructure struggling businesses and rebuild them to eventually sell them off for higher value. Think of it this way, it's like someone buying someone else's piece of junk for a cheap price and restoring it to new and reselling it for a a much higher price. That's how Apollo works. They're in it for short term but long enough to make a profit. As is, CKX would not be a profit maker without restructuring. And to do that it starts with its two major properties; Graceland and American Idol.
    Check out my new blog about Elvis Presley @ http://elvis21century.blogspot.com/

  12. #12
    TCB Mafia KPM's Avatar
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    Re: Interesting read in Commercial Appeal

    Quote Originally Posted by vivaelvis View Post
    All those failed plans had three things in common.

    1.Lack of funding.
    2.All were theme parks.
    3.All lacked mainstream interest.

    Under Sillerman, CKX and EPE were limited in funding since it was a small public entertainment business. That is no longer the case. Apollo is a private equity firm with a $850 BILLION networth. In other words, if Apollo feels the need to expand Graceland then it will happen as they won't have to seek out or wait for funding. They do their own funding. That is how they restructure struggling businesses and rebuild them to eventually sell them off for higher value. Think of it this way, it's like someone buying someone else's piece of junk for a cheap price and restoring it to new and reselling it for a a much higher price. That's how Apollo works. They're in it for short term but long enough to make a profit. As is, CKX would not be a profit maker without restructuring. And to do that it starts with its two major properties; Graceland and American Idol.
    Sorry but thats not exactly correct... Apollo specializes in "Leveraged buyouts" (as do most private equity groups)
    A leveraged buyout is the process of acquiring a controlling interest in a company's equity and its where a significant percentage of the purchase price is financed through leverage.... or in common terms "borrowing"
    I understand how business works.
    I pointed out long ago that Apollo specialized in buying companys when the stock was down-then tinkering-then reselling when the price has gone up to a profit percentage worthy of the sale.
    CKX more or less failed after a huge buildup-EPE/Lisa came out ahead on that deal in strict dollars and cents terms.
    I hope I'm wrong but I do not see large investments in major expansions from Apollo-I see them tinkering to "tune up" the engine and then as the world economy strengthens 3-5 years down the road they will sell to someone.
    As it is in recent weeks the Dow stock market is around 11,300 well above the huge crash at the end of 2008 when the average was below 8000 and so the worth of CKX has risen with the tide and nothing really has been done of note by Apollo.
    ........
    As far as the reasoning behind the failure of the many many "announced plans for new ventures" its mute-my point was not why they did not come to fruition the point was EPE is not like all businesses they are not the lone entity to ever announce things which for whatever reason do not come to pass.
    Work in Progress!

  13. #13
    TCB Mafia KPM's Avatar
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    Re: Interesting read in Commercial Appeal

    In relation to this ongoing controversy about what should or should not be done and by whom with Graceland and the expansion I found another annoucement that ties in-Wayne Newton announced that his 40 acre 10,000 square foot home would be opened to tours in January or February 2012. They began last year with renovations to meet all building codes Fed, State, Local for a paid tourist attraction also adding a museum, theater, parking lots etc.... and other additions to the property.
    Newton ran into some legal problems with neighbors who did not want the tour buses and hassle of a major attraction but that has been settled fairly quickly
    So a totally new attraction with many problems at the start is nearing its opening-all within a few years time.
    I find that fascinating how easily the problems were so easily handled-with only a slight delay in opening date compared to CKX and its plans.
    Newton knew what he wanted, and settled on all the details quickly-that may be the answer.
    http://today.msnbc.msn.com/id/449563...entertainment/
    Plus its another celebrity who has taken a play from the EPE handbook-the twist is that Newton is still alive and has a say in whats going on.
    Last edited by KPM; 10-26-2011 at 12:00 PM.
    Work in Progress!

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