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OT Lats & Atts demise explained

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redviking
Master Marine Consultant

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USA
1771 Posts

Initially Posted - 05/22/2013 : 09:29:01

http://truthaboutlatsandatts.wordpress.com/

fascinating read...

sten

Edited by - on

Davy J
Master Marine Consultant

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USA
1511 Posts

Response Posted - 05/22/2013 : 13:34:54

Lots of strange things seemed to have occurred before and after the "sale" of the magazine.

Just some observations made during my six or seven years of subscriptions:

The last two years the magazine was published, it went bi-monthly on and off without much fanfare.

The Lost Soul has an extensive refit.... then is sold not very long after.

The Bitchin/Shannon project is announced, then "time shares" of the boat are sales pitched, then the boat is listed as for sale, unfinished. This was before the "sale" of the magazine.

The "sale" of the magazine is announced, then a few months later, after the subscription renewals are mailed out, the business is said to be locked up......

Then the former owners cite non-compete agreements as their reason for not being able to "rescue" or take back the deal.... BTW, I sold one of my former companies. The non-compete agreement was written so that if the buyer failed his obligations, my obligation to honor the non-compete agreement was terminated.

Then..... not maybe three weeks.... the new media project is announced. Of course all the former players of the magazine are now employed there....

After these observations, I lost some respect for the organization. It seems as if they are more like cheerleaders for their own brand, more than the sailing lifestyle...

Edited by - on

Stinkpotter
Master Marine Consultant

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Djibouti
9089 Posts

Response Posted - 05/22/2013 : 14:35:04

This guy writes about as well as he does his due diligence. (He assumed credit card accounts without knowing they had balances?? We could go on...) They're all living in some sort of dream world--now a nightmare. I've watched "Bob Bitchin's" videos and read some of his stuff, never knowing any of this was going on... but often wondering what scams he was using to fund his lifestyle. Now I have some clues.

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redviking
Master Marine Consultant

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USA
1771 Posts

Response Posted - 05/22/2013 : 16:13:57

Yeah, I've met Bob & Jody at a few shows... Always felt a little shifty to me. They've come back now as Cruising Outpost www.cruisingoutpost.com Same crew... Sounds like a legal nightmare for the guy that bought the place...

Sten

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delliottg
Former Mainsheet C250 Tech Editor

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USA
4479 Posts

Response Posted - 05/22/2013 : 17:34:03

<blockquote id="quote">quote:<hr height="1" noshade id="quote">Originally posted by Stinkpotter
 This guy writes about as well as he does his due diligence. (He assumed credit card accounts without knowing they had balances?? We could go on...) They're all living in some sort of dream world--now a nightmare. I've watched "Bob Bitchin's" videos and read some of his stuff, never knowing any of this was going on... but often wondering what scams he was using to fund his lifestyle. Now I have some clues.
<hr height="1" noshade id="quote"></blockquote id="quote">

I particularly liked his bit about how the magazine needed some "professional editing", while the editor in my head was screaming about how the article itself was written. Although to give him the benefit of the doubt, it sounds like he was pretty mad when he wrote it. However, if you waited a year to write something, maybe it should be a bit more polished.

It sounds to me like this guy's (these guy's?) understanding of business revolved around "these must be good guys, so I should believe what they're telling me", as opposed to "let my accountant go over your books and I'll get back to you". I've never bought someone else's business, but I have walked away from a business my best friend & I were thinking about buying. The financials just didn't add up, and the guy wanted to do an owner's note on the sale (and charge us about 2% over the going rate for it), he & his wife would be hired back immediately as "consultants", etc. It just kept feeling more & more sketchy, so I bailed, my friend stuck it out for another couple of weeks trying to figure out how to make it work, and then bailed as well.

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Dave5041
Former Mainsheet Editor

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USA
3758 Posts

Response Posted - 05/23/2013 : 10:12:16

<blockquote id="quote">quote:<hr height="1" noshade id="quote"> (these guy's?) <hr height="1" noshade id="quote"></blockquote id="quote">
(These guys')

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Stinkpotter
Master Marine Consultant

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Djibouti
9089 Posts

Response Posted - 05/23/2013 : 12:01:28

The Edit Wars have begun! That one caught my eye, too... But as a past professional writer of sorts, who knows nobody can thoroughly proofread their own writing (because they already know what it says), I just wrinkle my nose and chew on my tongue. In the L&A diatribe, I almost became too annoyed to finish. But the writer was not a writer for the mag, much less an editor. He's an amateur entrepreneur wannabe who was easily taken by a semi-professional con-man. When you swim with sharks.......

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redviking
Master Marine Consultant

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USA
1771 Posts

Response Posted - 05/23/2013 : 12:43:45

Which one was the con man? I'm confused... The events that led up to this incident certainly makes one wonder. And then how do we explain the resurgence under Cruising Outpost?

Sten

Edited by - on

jerlim
Master Marine Consultant

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USA
1484 Posts

Response Posted - 05/23/2013 : 13:40:17

What's become of Cruising Outpost? I bit and went for a subscription, a few issues were published but I can't recall the last time I received one...

Edited by - on

Stinkpotter
Master Marine Consultant

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Djibouti
9089 Posts

Response Posted - 05/23/2013 : 15:08:10

<blockquote id="quote">quote:<hr height="1" noshade id="quote">Originally posted by jerlim
 What's become of Cruising Outpost? I bit and went for a subscription, a few issues were published but I can't recall the last time I received one...<hr height="1" noshade id="quote"></blockquote id="quote">...which might answer Sten's question.

Edited by - Stinkpotter on 05/23/2013 15:08:48

Davy J
Master Marine Consultant

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USA
1511 Posts

Response Posted - 05/23/2013 : 15:35:07

<blockquote id="quote">quote:<hr height="1" noshade id="quote">What's become of Cruising Outpost? I bit and went for a subscription, a few issues were published but I can't recall the last time I received one...<hr height="1" noshade id="quote"></blockquote id="quote">
Well this question piqued my interest and I went over to the website....

Besides the name, it's completely the same as the old website and operation. It looks like the print copy only comes out quarterly now.

When I went to the St Pete boat show last fall, their booth was exactly the same as the old booth, but with the new name and signage. And the very same people working it. Hawking the very same products as before.

The whole situation seems shady to me....

Edited by - on

redviking
Master Marine Consultant

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USA
1771 Posts

Response Posted - 05/24/2013 : 12:54:49

Shady isn't really quite the word... Unscrupulous... Any publication shouldn't sell products too... Stupid. Why would a competing product choose to advertise? L&A's model has been flawed since the beginning... I see a second crash and burn in Mr. Bitchin's future.

Sten

Edited by - on

Stinkpotter
Master Marine Consultant

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Djibouti
9089 Posts

Response Posted - 05/24/2013 : 13:36:08

...then he'll re-emerge under yet another banner, blaming somebody else, and with a new set of victims (creditors). And his little cult will be cheering him on...

Edited by - Stinkpotter on 05/24/2013 13:36:43

redviking
Master Marine Consultant

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USA
1771 Posts

Response Posted - 05/25/2013 : 07:05:18

<blockquote id="quote">quote:<hr height="1" noshade id="quote">Originally posted by Stinkpotter
 And his little cult will be cheering him on...
<hr height="1" noshade id="quote"></blockquote id="quote">

It is very much like that... I know sailors and cruisers who adore Bob & Jody. OK, almost worship... It's a church of sorts for those who sail the dream...

sten

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