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Old 02-08-2010, 09:11 PM   #1
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Hugh Hefner Accused of Screwing Playboy

Come on, leave the guy alone. I don't think Playboy should be sold. The guy lived and is living a great lifestyle by what he created. He deserves it. He gave the world one of the best Men's magazines of our time. He should not have this pressure on him at this time of his life.

Source.
http://www.tmz.com/2010/02/08/hugh-h...-class-action/

---------------------------

Hugh Hefner has been sued for living the good life and refusing to give it up for the sake of his company.

We've obtained a class action lawsuit filed by a Playboy shareholder who claims the company is falling apart and Hugh has intentionally sabotaged two potential deals in the last 6 months to sell the company at a decent price.

In the lawsuit, an investment company that analyzed Playboy's business sent a note stating "we think the wildcard here is Hugh Hefner." The note continues, "If you were Hugh Hefner, 81, would you give up the parade of busty blonds, the fancy mansion and the reality TV show for a payout?"

The suit goes on ... "Hefner has continued to live the good life and make sure everyone knows it. Hefner remains in the limelight, showing up at media events and at the Playboy mansion ... with his girlfriends by his side."

The suit laments, "Today, the price of a Playboy magazine is far higher than the price of Playboy common stock." In 1999, the stock sold for $36 a share. Today Playboy closed at $3.14. The magazine sells for $5.99 ... because of the articles.

The plaintiffs say Hefner runs roughshod over the shareholders and they want unspecified damages.
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Old 02-08-2010, 09:14 PM   #2
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... because of the articles.
that never gets old
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Old 02-08-2010, 09:16 PM   #3
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So you think that the shareholders should lose money and get screwed so that Hugh can maintain his legacy and live the good life?
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Old 02-08-2010, 09:16 PM   #4
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What some people don't understand is that who gets the Playboy brand is just as important as how much money they get.
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Old 02-08-2010, 09:18 PM   #5
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Originally Posted by CyberAge-Dave View Post
Come on, leave the guy alone. I don't think Playboy should be sold. The guy lived and is living a great lifestyle by what he created. He deserves it. He gave the world one of the best Men's magazines of our time. He should not have this pressure on him at this time of his life.

Source.
http://www.tmz.com/2010/02/08/hugh-h...-class-action/

---------------------------

Hugh Hefner has been sued for living the good life and refusing to give it up for the sake of his company.

We've obtained a class action lawsuit filed by a Playboy shareholder who claims the company is falling apart and Hugh has intentionally sabotaged two potential deals in the last 6 months to sell the company at a decent price.

In the lawsuit, an investment company that analyzed Playboy's business sent a note stating "we think the wildcard here is Hugh Hefner." The note continues, "If you were Hugh Hefner, 81, would you give up the parade of busty blonds, the fancy mansion and the reality TV show for a payout?"

The suit goes on ... "Hefner has continued to live the good life and make sure everyone knows it. Hefner remains in the limelight, showing up at media events and at the Playboy mansion ... with his girlfriends by his side."

The suit laments, "Today, the price of a Playboy magazine is far higher than the price of Playboy common stock." In 1999, the stock sold for $36 a share. Today Playboy closed at $3.14. The magazine sells for $5.99 ... because of the articles.

The plaintiffs say Hefner runs roughshod over the shareholders and they want unspecified damages.


Im a share holder.. IM gonna get paid. im gonna get paid.

Oh wait..


They accused him of wasting the company and then sue him??? what do they want sheets from the beds with its all auctioned?
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Old 02-08-2010, 09:19 PM   #6
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So you think that the shareholders should lose money and get screwed so that Hugh can maintain his legacy and live the good life?
They should have thought about that before they bought the stock. I buy bank stocks and who is enjoying it. The CEO's. Same Shit. But in this case, He started this company, not some CEO that is running a bank that has been in business for over 100 years. The guy deserves it.
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Old 02-08-2010, 09:20 PM   #7
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That shareholder must not read the annual report because the Playboy mansion is ran just like a hotel ... they track everything down to food and beverage. Hefner pays for what he uses ... he just has a private hotel.
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Old 02-08-2010, 09:21 PM   #8
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They should have thought about that before they bought the stock. I buy bank stocks and who is enjoying it. The CEO's. Same Shit. But in this case, He started this company, not some CEO that is running a bank that has been in business for over 100 years. The guy deserves it.
Oh good grief. So the stockholders are idiots because they chose to invest in a company that they thought was being run properly, only to find out that the former controller of the company is going to sabotage any possible sale so that he can continue getting pussy?

That's a new one.
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Old 02-08-2010, 09:21 PM   #9
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And the TV production company pays for the girls rent and everything they consume.
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Old 02-08-2010, 09:22 PM   #10
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that never gets old
Being in the Porn biz for 14 years, the articles really are great.
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Old 02-08-2010, 09:26 PM   #11
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I've seen Hugh Hefner's performance in the movie "Miss March." Well done.

[applauses]
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Old 02-08-2010, 09:27 PM   #12
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If he already pays for his lifestyle, why wouldn't the acquiring company just continue letting him live in the mansion and benefit from the additional branding?

Sounds like the whole basis of the lawsuit is an analysts opinion.
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Old 02-08-2010, 09:28 PM   #13
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Oh good grief. So the stockholders are idiots because they chose to invest in a company that they thought was being run properly, only to find out that the former controller of the company is going to sabotage any possible sale so that he can continue getting pussy?

That's a new one.
No....He's just saying that the stockholders are just assed out because Hugh Heffner started that company and he DESERVES the right to run it into the ground.....

If the stockholders don't like it, sell.
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Old 02-08-2010, 09:28 PM   #14
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If he already pays for his lifestyle, why wouldn't the acquiring company just continue letting him live in the mansion and benefit from the additional branding?

Sounds like the whole basis of the lawsuit is an analysts opinion.
I agree, well said.
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Old 02-08-2010, 09:32 PM   #15
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Old 02-08-2010, 09:36 PM   #16
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The suit laments, "Today, the price of a Playboy magazine is far higher than the price of Playboy common stock." In 1999, the stock sold for $36 a share. Today Playboy closed at $3.14. The magazine sells for $5.99 ... because of the articles.

The plaintiffs say Hefner runs roughshod over the shareholders and they want unspecified damages.
This is interesting. What you are saying is that Playboy is a public company that has people who buy common stock. This would mean that the financial statements are available for everyone to see. See more here http://moneycentral.msn.com/investor...spx?Symbol=PLA.


-----------------

Here is the Annual data for 2008 (12 months)

Financial data in U.S. Dollars

Values in Millions (Except for per share items)


Revenue 292.15
Total Revenue 292.15

Cost of Revenue, Total 236.33
Gross Profit 55.82

Selling/General/Administrative Expenses, Total 51.29
Research & Development 0
Depreciation/Amortization 0
Interest Expense (Income), Net Operating 0
Unusual Expense (Income) 160.17
Other Operating Expenses, Total 4.12
Operating Income -159.77

Interest Income (Expense), Net Non-Operating 0
Gain (Loss) on Sale of Assets 0
Other, Net -1.81
Income Before Tax -165.91

Income Tax - Total -9.85
Income After Tax -156.06

Minority Interest 0
Equity In Affiliates 0
U.S. GAAP Adjustment 0
Net Income Before Extra. Items -156.06

Total Extraordinary Items 0
Net Income -156.06


Total Adjustments to Net Income 0
Preferred Dividends 0
General Partners' Distributions 0


Basic Weighted Average Shares 33.31
Basic EPS Excluding Extraordinary Items -4.69
Basic EPS Including Extraordinary Items -4.69

Diluted Weighted Average Shares 33.31
Diluted EPS Excluding Extrordinary Items -4.69
Diluted EPS Including Extraordinary Items -4.69

Dividends per Share - Common Stock Primary Issue 0
Gross Dividends - Common Stock 0
Interest Expense, Supplemental 4.46
Depreciation, Supplemental 4.69

Normalized EBITDA 7.38
Normalized EBIT 0.4
Normalized Income Before Tax -5.73
Normalized Income After Taxes -51.94
Normalized Income Available to Common -51.94

Basic Normalized EPS -1.56
Diluted Normalized EPS -1.56
Amortization of Intangibles 2.28
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Old 02-08-2010, 09:38 PM   #17
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The company is showing a net loss of $156,060,000 for 2008. This is not good! The company is losing money.
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Old 02-08-2010, 09:40 PM   #18
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it will be sad if Playboy ever turns into just a brand name
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Old 02-08-2010, 09:42 PM   #19
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Apparently, there is $160,170,000 amount labeled: Unusual expense: 2008.

I wonder what it could be?!?
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Old 02-08-2010, 09:46 PM   #20
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No....He's just saying that the stockholders are just assed out because Hugh Heffner started that company and he DESERVES the right to run it into the ground.....

If the stockholders don't like it, sell.
Thanks BVF.
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Old 02-08-2010, 09:47 PM   #21
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Old man cant run shit, his gotta go
He's not running it, he's living it. Big difference.
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Old 02-08-2010, 10:00 PM   #22
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Damn Playboy just won't be the same without Hef...
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Old 02-08-2010, 10:02 PM   #23
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Apparently, there is $160,170,000 amount labeled: Unusual expense: 2008.

I wonder what it could be?!?
truckloads of Viagra
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Old 02-08-2010, 10:07 PM   #24
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Its about time... he wont even turn over the reigns to his own sons....
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Old 02-08-2010, 10:07 PM   #25
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I remember being a kid and going to the playboy club up in Vernon, nj with my parents.
My dad used to go play golf and my mom and I would chill by the pool.
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Old 02-08-2010, 10:10 PM   #26
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Can't they let the man live out the rest of his life in piece. He's been living the dream for all these years, why fuck it up now?
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Old 02-08-2010, 10:14 PM   #27
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Maybe i'll wait until its a penny stock.
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Old 02-08-2010, 10:30 PM   #28
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No....He's just saying that the stockholders are just assed out because Hugh Heffner started that company and he DESERVES the right to run it into the ground.....

If the stockholders don't like it, sell.
It's not a privately owned company anymore, right? So how does Hugh still "DESERVE" the right to fuck over the other company's owners? Really, I'm confused by the entitlement mentality I'm reading, but I could be mis-reading or not knowing stuff as well.
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Old 02-08-2010, 11:52 PM   #29
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the comments in this thread are funny
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Old 02-09-2010, 12:02 AM   #30
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So you think that the shareholders should lose money and get screwed so that Hugh can maintain his legacy and live the good life?
I think I'll put my sig right here. Live it up Hef - you deserve it!
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Old 02-09-2010, 12:44 AM   #31
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he's an icon but hasn't been in the focus of the company in a while. PB is a nice mag and stuff but it's online stuff is weak and doesn't make $$. more hardcore mags and sites make more income. it's legacy of the magazine will live on since its playboy.

he should sell his shares, walk away, and enjoy life.
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Old 02-09-2010, 01:23 AM   #32
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Old 02-09-2010, 01:23 AM   #33
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Apparently, there is $160,170,000 amount labeled: Unusual expense: 2008.

I wonder what it could be?!?


Well, it's unusual...

ADG
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Old 02-09-2010, 01:27 AM   #34
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Old 02-09-2010, 02:39 AM   #35
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It's not a privately owned company anymore, right? So how does Hugh still "DESERVE" the right to fuck over the other company's owners? Really, I'm confused by the entitlement mentality I'm reading, but I could be mis-reading or not knowing stuff as well.
ya lots of people started companies that went public. they aren't entitled to use the private jet and vacation houses for life.

he's just a dude that got lucky doing the right thing at the right time. he couldn't start an adult business today or survive in today's economy (and isn't).

adult companies are liquidating and magazines are all going under. if there's a case, he'll lose, cash out, and still get more pussy than any of us.
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Old 02-09-2010, 05:07 AM   #36
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He should sell. It would be a nice way to end it rather then have to close the thing himself.
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Old 02-09-2010, 05:59 AM   #37
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No more High Class call girls for him
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Old 02-09-2010, 06:11 AM   #38
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It's not a privately owned company anymore, right? So how does Hugh still "DESERVE" the right to fuck over the other company's owners? Really, I'm confused by the entitlement mentality I'm reading, but I could be mis-reading or not knowing stuff as well.
He is still a major shareholder and has the most "controlling/voting stock " he planned that well..... cant say he hasnt got brains......

I think what a lot are missing is once he goes it will be the end of Playboy as HE is Playboy...no one else could do what he does....even if its just hangin with hot models !!.

I would also say Richard Branson ...Donald Trump...and even Don KIng as examples are the main key to thier companies fortunes in the same way.
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Old 02-09-2010, 06:16 AM   #39
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i doubt the misery Hugh Hefner lives in is considered a good life any longer, maybe 40 years ago, but not now.
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Old 02-09-2010, 06:21 AM   #40
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So you think that the shareholders should lose money and get screwed so that Hugh can maintain his legacy and live the good life?
Yes......
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Old 02-09-2010, 06:43 AM   #41
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Once Hef dissapears there won't be no real Playboy anymore

I hope they realize that

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Old 02-09-2010, 06:53 AM   #42
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Only in America..
Yeah, the Mexican Hefner is doing much better...
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Old 02-09-2010, 07:53 AM   #43
Semi-Retired-Dave
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he's an icon but hasn't been in the focus of the company in a while. PB is a nice mag and stuff but it's online stuff is weak and doesn't make $$. more hardcore mags and sites make more income. it's legacy of the magazine will live on since its playboy.

he should sell his shares, walk away, and enjoy life.
Why not keep his shares and live life as he is? How much more can a guy enjoy life.
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Old 02-09-2010, 11:03 AM   #44
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Once Hef dissapears there won't be no real Playboy anymore

I hope they realize that
Very true.
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Old 02-09-2010, 12:04 PM   #45
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Poor Hugh.
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Old 02-09-2010, 01:07 PM   #46
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Hef's persona is a huge part of that brand. remove him, his publicity and his property and see how that affects the shareholders stock and the brand
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Old 02-09-2010, 01:14 PM   #47
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Hef's persona is a huge part of that brand. remove him, his publicity and his property and see how that affects the shareholders stock and the brand
Exactly.
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Old 02-09-2010, 02:15 PM   #48
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Well,not sure can Hef do much-he cant turn playboy magazine into tube
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Old 02-09-2010, 03:25 PM   #49
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Well,not sure can Hef do much-he cant turn playboy magazine into tube
lol good one
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Old 02-09-2010, 03:29 PM   #50
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Yeah, the Mexican Hefner is doing much better...
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