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Old 09-20-2012, 08:10 AM   #631
Tom Davenport
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Re: Stop Anthos from Taking over CrossFit

Interesting. After demonizing the industry, is Mr. Glassman approaching PI (excuse me, PE) firms to raise money to buy out Lauren? Level Equity Management and THL Credit, perhaps? Others as well?
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Old 09-20-2012, 10:15 AM   #632
Chris Mason
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Re: Stop Anthos from Taking over CrossFit

Quote:
Originally Posted by Nathan Holmes View Post
Not true, Todd did. I merely pointed out that your statements and question were flawed.



I'll let Todd address that.



Matthew 7:3
Sorry, confused you and him. As to my statements and questions being flawed, I certainly agree that the 5X number could be an incorrect rule of thumb and my using the acronym PI for private equity was stupid. For the balance, I think not and you have presented nothing that satisfactorily refutes them.
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Old 09-20-2012, 10:20 AM   #633
Chris Mason
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Re: Stop Anthos from Taking over CrossFit

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Originally Posted by Nathan Holmes View Post
Matthew 7:3
As to the biblical reference, I am most definitely confident in my positions on most things, but when presented with evidence to the contrary I will admit being wrong, or the possibility of being wrong. My 5X comment being a good example. I was given that number. I am not 100% confident that it is accurate and when someone with evidently greater knowledge than I told me it is not accurate I clearly stated they could be correct. I am not being stubborn in not totally giving up on the figure as I don't truly know what the person telling me it is wrong does know - i.e. their level competency. If Louie Simmons tells me I have something wrong about his system then I will 100% admit to being wrong because I know with certainty he knows more about his own system than I do.
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Old 09-20-2012, 10:59 AM   #634
Doug Lowry
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Re: Stop Anthos from Taking over CrossFit

No one wants to chime in on Crossfit being "Unbuyable" but coach shopping around with other private equity firms?
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Old 09-20-2012, 11:02 AM   #635
Eric A. Brown
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Re: Stop Anthos from Taking over CrossFit

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Originally Posted by Doug Lowry View Post
No one wants to chime in on Crossfit being "Unbuyable" but coach shopping around with other private equity firms?
Does seem odd.

Is there much in the way of evidence of Anthos actually screwing over the companies it has invested in? I am sure that some may not like everything that occurs, but someone with better business knowledge than I (this is not difficult, I know little about the subject) should be able to track their investment history and provide some fairly basic information.

Because otherwise we have little beyond a great deal of speculation and fear-mongering, which serves little purpose. Or at least no good purpose.
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Old 09-20-2012, 11:35 AM   #636
Chris Mason
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Re: Stop Anthos from Taking over CrossFit

If he wants to buyout his ex's shares then he needs cash to do it. Investment is where most businesses go when seeking large sums of cash. The difference is if coach makes the deal for cash he sets the terms. In other words, he can control the terms of the deal such as what input, if any, the potential investor(s) have etc.

There is nothing confusing about it at all?
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Old 09-20-2012, 12:26 PM   #637
Nathan Holmes
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Re: Stop Anthos from Taking over CrossFit

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Originally Posted by Doug Lowry View Post
No one wants to chime in on Crossfit being "Unbuyable" but coach shopping around with other private equity firms?
This is a completely different situation. After reading the documents, it appears as though Coach is pursuing taking out a loan to buy Ms. Jenai's shares. The documents obviously indicate he has been approved.

One can only assume that Coach is putting some of his shares of the Crossfit up as collateral. They are certainly the most valuable assett he owns, and I seriously doubt he has any real assets that even approach the value needed to secure a ~$20 mil loan.

Todd, feel free jump in and correct me if I'm wrong, but I am guessing that the lender has little-to-no input into the daily operations of the company unless they believe he is deliberately ruining the company (i.e. "their" property if he were to default on the loan).

IF everything I wrote is remotely accurate, I don't think you can compare Coach's pursuit of a loan to Ms. Jenai's attempt to straight-up sell her shares of Crossfit.

Hey Chris, do we finally agree on something?
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Old 09-20-2012, 12:52 PM   #638
Bryan Kemper
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Re: Stop Anthos from Taking over CrossFit

From what I have read and heard, the crux of the Anthos deal is that they have brought ideas to the table that were totally against the current aim of CFHQ and the affiliate system. "Leaving money on the table" has come up time and again. Coach prefers the system in place for affiliates and does not consider them a cash cow for the milking of profits. If in order to maintain this and to buy out control it requires his pursuit of monetary backing of sort that is line with his vision for a very successful company, so be it.
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Old 09-20-2012, 12:54 PM   #639
Nathan Holmes
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Re: Stop Anthos from Taking over CrossFit

Quote:
Originally Posted by Chris Mason View Post
If he wants to buyout his ex's shares then he needs cash to do it. Investment is where most businesses go when seeking large sums of cash. The difference is if coach makes the deal for cash he sets the terms. In other words, he can control the terms of the deal such as what input, if any, the potential investor(s) have etc.

There is nothing confusing about it at all?
It sounds like you are insinuating that Coach would sell shares to raise cash. That would definitely fly in the face of being "unbuyable". But, like I said above, I don't think that is what he is doing. Just like we need to wait and see what happens with Anthos, I think it would be wise for everyone to reserve their "GOTCHA"s until everything is settled.
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Old 09-20-2012, 02:18 PM   #640
Nathan Holmes
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Re: Stop Anthos from Taking over CrossFit

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If in order to maintain this and to buy out control it requires his pursuit of monetary backing of sort that is line with his vision for a very successful company, so be it.
Careful, though, you make it sound like it wouldn't be contradictory for him to sell part of Crossfit. To quote coach, "There's nothing for sale, not one little sliver, ever, at any price." http://goo.gl/5rQyz YOU MUST ANNOTATE ALL LINKS WHETHER WORK AND FAMILY SAFE.

I don't like to resort to extremes, but if he sold even one share (or "one little sliver"), for any purpose, that would make him a bit of a liar. However, he has said that when the time comes, he is going to put it into a trust. I believe him. I don't think we should try to justify coach's actions before he takes them. Especially in this case, it makes one look two faced to say on this message board that Ms. Jenai shouldn't sell her shares to whoever she wants but Coach Glassman can.
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