Englishman in Bandung

By Vodkaman

The Future?

I decided just for interest, to do a Google on Hilco Global, to see what it is they  actually do; An American financial services holding company. On the Hilco Global Wiki  page, second paragraph in, you find the link between Hilco Global and Gordon Brothers.

A text search within the Wiki article reveals two more entries in the references section,  were Hilco and Gordon are working together. Hilco an Gordon are what are known as vulture  capitalist companies, they 'help' struggling companies that are threatened by bankrupsy.

This 'help' can be in the form of managerial advice and/or a fiscal injection, which seems  to be what is promised here. The Gordon Brothers Wiki page lists Jessops as one of its  dealings, so the comment made by Barrioboy was not that unrealistic and a glimmer of hope  is offered.

But, these companies are not called vulture capitalists for no good reason and are often  involved in the final rape of a failing companies assetts before it finally sinks into  oblivion. What is of value in Blip that grabs the interest of these vultures is rather  sketchy. They do have an interest in collecting intellectual property (IP) and customer  lists, as stated in the 'Coldwater Creek Liquidation Auction Won by Hilco/Gordon' article.

Joes notion that Hecktman and Sager 'share our collective passion and enthusiasm for the  Blipfoto platform' may be a tad naive, possibly an understatement. What I cannot figure  out, is what Hecktman and Sager's interest is in Polaroid-Blipfoto which is relatively  small potatoes in the fiscal world of their dealings.

Then, in the fourth paragraph from the bottom of the Hilco Wiki article, what a surprise,  Hilco Global owns Polaroid! Something very fishy is going on here. A further search into  the Polaroid acquisition reveals that it was a Hilco/Gordon joint venture. This occurred  in 2009 and Polaroid is still alive, so a glimmer of hope there.

Blipfoto entered a partnership with Polaroid, presumably a relationship that would benefit  both companies. Why then does Blipfoto go into liquidation only three months later. Surely  if Hilco/Gordon are successful company managers, this ugly step could have been averted.

Forward to today's announcement; 'Polaroid Blipfoto platform is now in the hands of its  NEW owners' and 'Both Graham and I have spoken in depth with Jeff and Bobby in the last  few days, and they have asked us both to play an active role in the company going  forward'. Joe no longer owns Blipfoto, it has been snatched from his grasp. May be Joe's  love for his creation, his baby, compels him to accept the invitation to stay on and make  it work in the future, after all, I doubt Hecktman and Sager will be present at the coal  face and someone with enthusiasm is necessary to run it and make it work.

It is my opinion that something deeply underhand and unsavoury has happened here and poor  old Joe has been robbed. I still cannot figure out why. Possibly Hilco and Gordon  recognize the potential of Blip to go BIG TIME, like Flockr, Torture and Faceache, in  which case, the first priority would be a takeover.

So, while you are all whooping it up over the survival of your blessed Blip, spare a  thought for its founder and your friend - Joe. He is going to be a part of making Blip  reach astronomic proportions and will only be able to dream about what might have been,  consoled in the knowledge that he started it. That has to be worth something I suppose,  but fiscally - NADA!

If you are interested in what is going on, then you should do a bit of research  yourselves, as I have only scratched the surface for this article. There is a ton of  information out there. Have a looksee yourself and form your own opinions. Bring your  opinions back here and see if you can change mine.


Sign in or get an account to comment.