Re: Interesting Chapter 11 Filing Yesterday

magicmoodz · ‎03-16-2010

@RescueLover wrote:

It’s probably why the Hosts want to join the Union.

They don’t feel protected like the higher ups are and know they can be replaced if necessary.

@RescueLover

Someone correct me if I'm wrong, but I don't think the new investors have to honor a union currently being established.

So that leads me to another thought...will the new investors have to honor the retention bonuses and severance payouts Or did QVC put them in place so TPTB can continue to rest on their laurels until the mess is someone else's problem?

I don't know the answer, just my rambling thoughts.

santorini · ‎03-09-2010

I'm probably just being a Nervous Nellie but this latest development has me worried. I wonder what it would take for everyone involved to just throw in the towel. I hope everything works out.

Beammeupscotty · ‎02-25-2024

@They CallMe MRWILKES wrote:
An Emergency Hearing on all of this will be held at 1 pm central.

QVC just filed an exhibit with the Court that it will suffer additional losses of $419 million if the confirmation is delayed for one year!

@stevieb Yes, I think payout differs for cause/without cause, but I don't remember the details!

Any idea what happened at the emergency meeting

Mary Bailey · ‎03-09-2010

@cindyNC wrote:
I don't shop at QVC but would really miss this forum.

I shop here some. I'd really miss this forum too. So many times I've said to DH: "I read that already at qvc" or "Guess what I read at qvc?"

I've been through a few re-organizations at different jobs. At one job if we didn't train our replacements we would lose our severance pay. Some people had to fly overseas to train Customer Service Reps.

Puppy Lips · ‎05-09-2010

@Mary Bailey. That is just awful. Though I have heard of that before, employees having to train their replacement. I would be so ****** that I would train them incorrectly so they do it all wrong when I am kicked to the curb.

Always remember that you are absolutely unique. Just like everyone else. Margaret Mead

Mary Bailey · ‎03-09-2010

@Puppy Lips wrote:
@Mary Bailey. That is just awful. Though I have heard of that before, employees having to train their replacement. I would be so ****** that I would train them incorrectly so they do it all wrong when I am kicked to the curb.

@Puppy Lips haha! I was just glad I didn't have to go overseas. I think because I had littles at the time. I'm pretty sure they only sent single people.

At another job I was off for a week and they called me back to be "temp" That lasted about 18 months.

Tori3569 · ‎06-27-2010

@They CallMe MRWILKES wrote:
I've purchased common stock shares from companies that went belly up, filed bankruptcy and went out of business. Never occurred to me to sue. The Preferred Shareholders in the QVC case challenging this are all large investment funds.

Of course, my loss was a tax write off!

Which is exactly what the preferred stock holders should be doing. Just like any financial manager would do--harvest the losses to offset the gains.

BalletBabe · ‎03-05-2011

@RescueLover wrote:

I suppose the incentive and retention program is to keep Top Executives from quitting during all the turmoil.

Can You imagine the entire GLOBAL OPERATION shutting down because of it. 🥴

@RescueLover I am ready to not see Treacy anymore. THe last 4 days I have turned it on and there she is. I refuse to buy anything when she is on.

BalletBabe · ‎03-05-2011

@stevieb wrote:
@Mz iMac wrote:
@They CallMe MRWILKES wrote:
Summary as of today:

Most interesting, to me, is the disclosure of an employee incentive and retention program, intended to keep key employees who might otherwise leave due to the filing. Thus far, this program has cost $70 million! Retention bonuses really aren't that unusual, but that's a lot. Seems like a large number of employees may have jumped ship.

@They CallMe MRWILKES In my mind "key" employees would be........

janitors - Who is going to clean the bathrooms?

Housekeeping staff - Who is going to clean after the employees & vendors who need to stay over for one reason or another?

Control room/booth employees - Who will take over the DJ job for Gary & Jayne?

Camera employees - Need these folks to stay "on air."

Producers - Who will remind David every 2 seconds to name all the colors?

Food prep, stage & wardrobe stylists/decorators, etc.

Last but not least........
IT Department!
Definitely the janitors, who will be needed to turn out the lights...