GI Joes is BACK!

[toolfan]

Nope, it would be like if your dad ran a gun business into the ground, I purchased one of his guns from a creditor, you subsequently started a similar business, and then felt you were entitled to my gun.

Don't get me wrong, I think it's very unfortunate that these rightful heirs of the G.I. Joe's name won't be able to use it - but Wholesale Sports hasn't done anything unusual or corrupt. Just business as usual in corporate America.

Except that dad sold it to some people who ran it into the ground, and the people who bought it intend to run Wholesale Sports into the ground.

Venture Capatalists are not concerned with the long term welfare of the company, only with their profits. Unsustainable business practices are their forte, because they can borrow (generally based on the name of the company they are using, GI Joes in this instance), cash the loan check then sell the company to another firm or let it file bankruptcy and let another firm buy the name and repeat the procedure.

Nothing unusual or illegal about it, but I wouldn't go so far as to say it isn't corrupt.

 

[ZachS]

Venture Capatalists are not concerned with the long term welfare of the company, only with their profits. Unsustainable business practices are their forte, because they can borrow (generally based on the name of the company they are using, GI Joes in this instance), cash the loan check then sell the company to another firm or let it file bankruptcy and let another firm buy the name and repeat the procedure.

You're mixing up venture capital (which funds start-ups) with private equity... I agree that the latter has lots of downsides, but these trademarks could just as easily have ended up on the market if G.I. Joe's failed as a family-owned company (or an employee-owned company, or a corporation, etc.). Even though was pulled under by the rapacious business practices and boneheaded marketing decisions of the last owner, it could have easily failed with any business structure.


Anyway, I've always preferred Andy & Bax.

 

[Cougfan2]

Nope, it would be like if your dad ran a gun business into the ground, I purchased one of his guns from a creditor, you subsequently started a similar business, and then felt you were entitled to my gun.

Don't get me wrong, I think it's very unfortunate that these rightful heirs of the G.I. Joe's name won't be able to use it - but Wholesale Sports hasn't done anything unusual or corrupt. Just business as usual in corporate America.

I think may be you missed my point, or I did not make it well. I don't think Wholesale Sports did anything unusual or corrupt. I think the guys that tried to bring back GI Joe's may have got some bad legal advice.

 

[bcp]

GI Moe's

Willie and Joe's

 

[gogoDawgs]

G.I. Jane

 

[Brandon44647]

I read in the business section of the Oregonian a company called FAC, who also runs Wholesale Sports bought the rights to the name "GI JOES" & "JOES". Then turned around and sued the group trying to revive GI JOES, They said forget it, they won't/can't fight it..... So they are closing the doors.....

 

[DieselScout]

I read in the business section of the Oregonian a company called FAC, who also runs Wholesale Sports bought the rights to the name "GI JOES" & "JOES". Then turned around and sued the group trying to revive GI JOES, They said forget it, they won't/can't fight it..... So they are closing the doors.....

They bought the names when the stores went out of business. It's a common practice to keep competitors down. It really sucks, I was looking forward to the GI JOES of my childhood returning.

 

[Dan-Dee Sales Inc]

very interesting.

 

[Trlsmn]

Great to here they are dead! They screwed me out of a gift card when the stopped honoring them at the liquidation sale so they can go screw themselves! I would have never set foot in the new place.

 

[Cougfan2]

Great to here they are dead! They screwed me out of a gift card when the stopped honoring them at the liquidation sale so they can go screw themselves! I would have never set foot in the new place.

I understand your being upset, but to be fair to them, the liquidation sale was put on by the company that bought out the inventory to liquidate it. They name on the storefront may have been GI Joe's and the employees may have been wearing GI Joe's Swag, but at that point GI Joe's as a company no longer existed.

Still doesn't take the sting out of being screwed out of the gift card, but understand who it was that screwed you.

 

[baalzebubba]

There were alot of bad stories from the liquidators. The incredible deal on a scooter didn't work out when someone got it home and found that it didnt have oil in the case... ruined and all sales final. Weak

 

[shotgun-2]

Why all the animosity with Sportsman Warehouse/UFA, they bought out a couple of defunct sporting goods chains and restarted them filling a void.

Were you better off when the doors of those stores were closed and your choice of places to buy your sporting supplies were limited and inconvenient?

UFA entered into a business agreement with the bankrupt chains and did what was necessary to try to make a profitable business. I'm sure one of the reasons the former owners of G.I. Joes are able to try to restart their business is because of funds recieved from UFA. They need to just find another name to build on and maybe they can use the phrase "Formally Joes" with it. If thats not legal then move forward with some creative advertising.

The more sporting goods/gun stores in business the better for us.

As far as Canadians owning the chain, so what? U.S. businesses own stores all over Canada, we have a good trade relationship with them.:dinner:eace:

 

[DieselScout]

Why all the animosity with Sportsman Warehouse/UFA, they bought out a couple of defunct sporting goods chains and restarted them filling a void.

Were you better off when the doors of those stores were closed and your choice of places to buy your sporting supplies were limited and inconvenient?

UFA entered into a business agreement with the bankrupt chains and did what was necessary to try to make a profitable business. I'm sure one of the reasons the former owners of G.I. Joes are able to try to restart their business is because of funds recieved from UFA. They need to just find another name to build on and maybe they can use the phrase "Formally Joes" with it. If thats not legal then move forward with some creative advertising.

The more sporting goods/gun stores in business the better for us.

As far as Canadians owning the chain, so what? U.S. businesses own stores all over Canada, we have a good trade relationship with them.:dinner:eace:

There is no animosity from me. While I am sad to see GI Joe's is not returning, I am glad to see Wholesale Sports is still here. What they did in buying the Joe's name and then suing the people is business, there is nothing touchy-feely about it. It's the way it's done. I understand it, and while in this instance I don't like the outcome, I'd rather have WS open, then everything closed. WS has a decent selection and while I don't purchase guns there I do tend to buy about everything else.

 

[longcolt]

I too hoped the GI Joes was going to restart, but alas it was not to be.

So I will continue to shop at Fisherman's Marine in Oregon City.