Author Topic: RICK - RCI Hospitality  (Read 14703 times)

TedKord

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Re: RICK - RCI Hospitality
« Reply #20 on: August 28, 2016, 06:49:29 AM »
I hadn't seen that Langan had been arrested. I just did a quick Google search and couldn't find it. On the other hand, I'm not shocked he's had relationships with dancers. His third wife was a dancer. This slightly older story goes over some of his background.

http://www.forbes.com/forbes/2008/1027/142.html

His personal life is not something I'd want to emulate or even approve of. I think the stock trades cheap because people don't want to be associated with he business, and I doubt that will ever change. On the positive side, that will make it easy for Langan to do buy backs at below intrinsic value.


arcube

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Re: RICK - RCI Hospitality
« Reply #21 on: August 28, 2016, 10:13:21 AM »
If your model template has a row to handle that combination of risks, go for it.

Johnny - you crack me up.

johnny

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Re: RICK - RCI Hospitality
« Reply #22 on: August 28, 2016, 09:23:40 PM »
I hadn't seen that Langan had been arrested.

yeah, they didn't file an 8-k. it was also such a non-surprise for me that i didn't bother bookmarking or saving the site.

johnny

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Re: RICK - RCI Hospitality
« Reply #23 on: August 28, 2016, 09:37:54 PM »
If you do a modest amount of work you can find references to it in legal documents. Specifically, documents about the divorce from Jante, who was a former dancer and is now an attorney (ruh roh!).

Here are some quotes that should get you started:

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However, after being arrested following a domestic dispute with Jante, Eric again filed for divorce on August 2, 2011. Eric was eventually charged with certain criminal offenses stemming from the dispute.

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While she did not do so in the trial court, Jante contends here that there are several different methods for determining how to value stock options during a divorce, including the “intrinsic value method” and the “Black/Scholes method.” Jante complains that, instead of using a recognized valuation methodology, the trial court simply accepted as true Eric’s unreliable testimony that the stock options were worth $300 or nothing.

At least he hangs out with the smarter dancers!

johnny

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Re: RICK - RCI Hospitality
« Reply #24 on: August 28, 2016, 09:57:50 PM »
Due diligence update: I have friend requested Jante' (the court documents omitted the apostrophe). I'll let you know when she accepts.

rawraw

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Re: RICK - RCI Hospitality
« Reply #25 on: August 29, 2016, 02:52:06 AM »
^That is dedication

jawn619

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Re: RICK - RCI Hospitality
« Reply #26 on: August 29, 2016, 06:18:00 AM »
the business is in secular decline.

Jurgis

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Re: RICK - RCI Hospitality
« Reply #27 on: August 29, 2016, 08:08:13 AM »
the business is in secular decline.

Baby boomers can't get elections even with Viagra?
"Before you can be rich, you must be poor." - Nef Anyo

DTEJD1997

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Re: RICK - RCI Hospitality
« Reply #28 on: August 29, 2016, 10:40:45 AM »
the business is in secular decline.

An attorney I work with is quite a "party" guy.  A week ago or so he went into a crazy, ranting, diatribe on the state of strip clubs in/around Detroit.  Evidently, they have hit rock bottom.  There is a severe problem getting good looking dancers.

As he put it...."I go to a strip club to escape reality, to look at hot women that I don't see in real life"...."I don't want to see everyday, broken down, busted, tatted up, overweight women.  I am just not going to pay money for it.  I go to a strip club for a smiley face, not a frowny face!" 

Of course, I am paraphrasing a bit for public consumption.

This goof admits that he can spend $200, $300 or maybe even more...but lately he says he spends $50 or much less.

I asked what he thinks the problem is.  He replied that heroin is a ravage.  He also was bemoaning that society is getting "too fat".  Also that quality women can get on "web cams" and make similar $ and not have to meet degenerates in person.

So I don't know if this is a problem limited to just Detroit, or is it nationwide?

If this is nationwide, then yes, I could very much see MOST clubs being in decline, shutting down.  Who wants to pay big $$$$ to see ugly, overweight, tatted up women?

Maybe it is like malls?  All but the highest end are collapsing, partly from competition on the interwebs?

johnny

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Re: RICK - RCI Hospitality
« Reply #29 on: August 30, 2016, 04:16:06 PM »
Maybe it is like malls?  All but the highest end are collapsing, partly from competition on the interwebs?

This is the sense I've gotten from people with decades of experience in the industry. Clubs that were printing presses in the 80s and 90s are now doing numbers that makes them indistinguishable from "normal" businesses of their size. On the other hand, maybe everybody has just leveled up their tax evasion practices.