Wilfred, this Soo Hoo Khoon Peng fellow’s name is appearing in many places, but I am not sure that there is 100% confirmation that he is an investor yet (only circumstantial evidence running in the low-to-mid 90s!). However, if the dude cashed out of the wine business just to buy into the WA, and Mr. Wine Ethics is stupid enough to make the claim that he did not sell to anybody connected to the wine business on that barest of technicalities (and yes, he did make that claim), he should be boiled in duck fat along with his frites at L’ Ami Louis! The exact quote:
“I have again taken on some investors, three 30-early 40ish highly qualified business and technology people and enthusiastic wine lovers as well as long time subscribers. They are totally independent of the wine industry and have a very global vision that is essential in today’s world.”
that Soo Hoo will ‘command and control’ the Wine Advocate.
And this:
The source then says the primary interest of the group is to ‘Allow advertising, allow independent reviewers to conduct public speaking events, presentations and seminars all for a fee, [and] spin off a Chinese edition of TWA’.
So apparently they are focusing on the Asian market, big time.
Too bad WE didn’t think of this, and put together an investment banking deal!
An unnamed source is cited as stating that “Soo Hoo will ‘command and control’ the Wine Advocate.” Sounds like a majority interest. Doesn’t sound consistent with what Bob has posted on the other board.
So, two sets of “facts.” Which set do you believe?
Lots of possibilities here. Most likely IMO is spin and/or distortion, possibly intentional, possibly unintentional or just poor reporting. My guess is that Bob still has control, but $15MM??? That sounds like a controlling chunk of change. Then again, my speculation is no more informed than anyone else’s.
One thing is sure: If both parties truly believe they are in charge, someone is going to end up unhappy.
Nathan, I agree on Jay. When Campogate broke, it looked like Parker was in for a load of grief on a guilt-by-association basis vis a vis BigJay. When it was over, it still seemed like guilt by association, but reversed…Jay guilty by association with Parker, Parker guilty by association with Campo, who was yet another of Parker’s adventures in poor judgment. Whatever Jay’s weaknesses as a WA staffer, he is an intelligent, decent and sincere person, all things that his buddy Parker is not…
David,
Lisa sounded like she is in charge. Soo Hoo has to be very gentle with Bob as if Bob doesn’t corporate, say adios to $15 mil and at least 20k reduction in the annual subscription. Bob on the other hand can no longer exert much control as TWA aint his.