Propworx Closing its Doors

Alan Castillo said:

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Where did those $400,000 go ?

Well, with questions like this ... it does seem to me to confirm that the true intent of this line of questioning is to carry out a witch hunt hoping to find misconduct on the part of Alec or just imply wrongdoing on his part ... which is unfortunate and mean spirited in nature, in my honest opinion. Wouldn't one have to think that all of the bank records and financial transactions of the company would be reviewed by the trustee to ensure everything was above board before the bankruptcy petition was granted? And since it was granted - can we not conclude that everything was above board? I'm not an expert on bankruptcy law at all; but I'm sure I've read that these types of reviews do take place and the petitioner's conduct has to be in order (no fraud, etc.) for everything to be approved by the court ... for instance, on a personal basis, one cannot charge one's credit card up to the limit on luxuries and transfer assets to a relative for safekeeping and then declare bankruptcy the next day to avoid that credit card debt. The bankruptcy would not be granted if improper conduct was evident. And I would have to think that there are tons of legitimate areas where money would be spent to fund the ongoing operations of the company - including rental of office / warehouse space, marketing, payroll for several employees, shipping, etc. Continued ill-intentioned questioning really just tarnishes the reputation of the questioner - not Alec or Propworx.

gbg1701 said:

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Well, with questions like this ... it does seem to me to confirm that the true intent of this line of questioning is to carry out a witch hunt hoping to find misconduct on the part of Alec or just imply wrongdoing on his part ... which is unfortunate and mean spirited in nature, in my honest opinion. Wouldn't one have to think that all of the bank records and financial transactions of the company would be reviewed by the trustee to ensure everything was above board before the bankruptcy petition was granted? And since it was granted - can we not conclude that everything was above board? I'm not an expert on bankruptcy law at all; but I'm sure I've read that these types of reviews do take place and the petitioner's conduct has to be in order (no fraud, etc.) for everything to be approved by the court ... for instance, on a personal basis, one cannot charge one's credit card up to the limit on luxuries and transfer assets to a relative for safekeeping and then declare bankruptcy the next day to avoid that credit card debt. The bankruptcy would not be granted if improper conduct was evident. And I would have to think that there are tons of legitimate areas where money would be spent to fund the ongoing operations of the company - including rental of office / warehouse space, marketing, payroll for several employees, shipping, etc. Continued ill-intentioned questioning really just tarnishes the reputation of the questioner - not Alec or Propworx.

I don't think people who ask legitimate questions should feel their reputation is being tarnished.

You say there "are tons of legitimate areas where money would be spent to fund the ongoing operations of the company - including rental of office / warehouse space, marketing, payroll for several employees, shipping, etc."
Agreed. So it is safe to say the whole operation was poorly managed.

I can only hope history does not repeat itself.
James

gbg1701, re-read my post #108, #117 & #122.

I have made the reasons behind my questions amply clear in those posts.

Those questions still stand.

gbg1701, I am starting to equate your passion in defending Alec Peters on the same lines as Don Hillenbrand’s attacks on him.

Unless you are speaking on Alecs’ behalf, I would have a discussion directly with him, and not you.

What you think my reasons are, or what you think of me, is totally irrelevant to me.

I have answered you already. Once again, re-read my post #108, #117 & #122.

I have made the reasons behind my questions amply clear in those posts.

There is absolutely no point in me replying any further to your jabs and speculations.

gbg1701 said:

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TymerDC, Good point about "no crimes, in the eyes of the U.S. Laws, have been committed" as certainly the bankruptcy petition was approved which it would not have been if there was misconduct evident. And also, I personally don't think that mismanagement or incompetence is an issue either; as we can look at Alec's very successful track record with prior companies. So he has proven that he can successfully handle the day to day issues of running diverse businesses. But - as I mentioned earlier - I suspect that defining the scope of Propworx's suppliers to be just major production studios for specialized auctions focusing on a single television series or feature film - could have significantly limited the potential for future business. How often would one expect opportunities to arise where a major production studio wanted to auction all of its assets from a single popular TV show? I think that defining that narrow a source of auction material truly had the best interests of the collector in mind to ensure the absolute authenticity of the memorabilia that was sold - but it certainly prevented Propworx from holding a regular quarterly or more frequent auction schedule. I suspect that they might have been able to hold many more auctions and perhaps not filed for bankruptcy if they were willing to accept auction memorabilia from thousands of individual consignors - but that would have compromised the impeccable provenance of the memorabilia. So you could say that Alec erred on the side of wanting to provide impeccable product to his customers - is that the fault the questioners are trying to bring to light? I honestly think that questioning private business affairs like this, and asking all these questions which truly seem to be an attempt to uncover wrongdoing, come across as ill intentioned. Or based on a preconception of guilt. And finding someone guilty until proven innocent is not an admirable characteristic that would reflect positively on one's reputation. (That's not to say that one shouldn't question apparent wrongdoing -- but there are no reasonable grounds to assume wrongdoing here at all.)

Then as I said before.......just don't do business with Propworx. Nohting you said weather your right or wrong is going to have any effect one way or the other.......don't you think all the energy your expelling here could be put to better use?

We need a new emotion button for shooting myself in the head. This argument has gone on way too long!!

then leave the thread if its making you angry

Here we go

gbg1701 said:

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I think it's clear on this issue you seem to believe there is a greater justification for asking questions than I do.

Indeed I do.

But that's great. We agree to disagree, and I'll leave it at that.

Ah the joys of expressing and respecting mutual opinions

Moviefreak said:

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We need a new emotion button for shooting myself in the head. This argument has gone on way too long!!

alienscollection.com said:

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Winner winner chicken dinner!

Alan Castillo said:

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Indeed I do.

But that's great. We agree to disagree, and I'll leave it at that.

Ah the joys of expressing and respecting mutual opinions

now thats

alienscollection.com said:

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hahahahahaha

Alec has said they have re-organized so "They're Back!!!!"

Amish Trooper said:

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LOL funny you say that. I just got an email from Propworx stating it is listing 50 lots of BSG,Caprica etc items on Ebay

Let me get this straight.

If one screws people and steals lots of money it is ok as long as it is done legally?

We may need to rethink that system.

You forgot to add as long as we all still get some cool swag THEN it's ok!

NCC1968 said:

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Let me get this straight.

If one screws people and steals lots of money it is ok as long as it is done legally?

We may need to rethink that system.

Bootlegger137 said:

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Winner winner chicken dinner!

thats great.

Originally Posted by Alan Castillo
Where did those $400,000 go ?


Isn't it possible some of the 400k is in the new items Propworx is auctioning?

Alan Castillo said:

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Unless you are speaking on Alecs’ behalf, I would have a discussion directly with him, and not you.

That would assume I would want to speak to you. If you aren't a Propworx customer, I am not interested in chatting. If you are, you know how to contact me directly.

gbg1701 said:

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But - as I mentioned earlier - I suspect that defining the scope of Propworx's suppliers to be just major production studios for specialized auctions focusing on a single television series or feature film - could have significantly limited the potential for future business. How often would one expect opportunities to arise where a major production studio wanted to auction all of its assets from a single popular TV show? I think that defining that narrow a source of auction material truly had the best interests of the collector in mind to ensure the absolute authenticity of the memorabilia that was sold - but it certainly prevented Propworx from holding a regular quarterly or more frequent auction schedule. I suspect that they might have been able to hold many more auctions and perhaps not filed for bankruptcy if they were willing to accept auction memorabilia from thousands of individual consignors - but that would have compromised the impeccable provenance of the memorabilia. So you could say that Alec erred on the side of wanting to provide impeccable product to his customers - is that the fault the questioners are trying to bring to light?

You hit the nail on the head. The Market was too small and couldn't sustain us as we were doing business.

Alec

TymerDC said:

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I'm not at all taking sides here but it just dawned on me......"is there a point to all this?" Nothing anyone says here is going to stop Propworx from continuing doing business. I see no point in all this back and forth mud slinging and arguing....things are what they are and nothings going to change anything......just my 2 cents.

Morals or ethics-wise aside...no crimes, in the eyes of the U.S Laws, have been committed. Simply put, if you don't like Propworx then don't ever do business with them......and vise-versa if you do like Propworx.

Exactly. And since it seems almost everyone who HAS done business with Propworx is happy with us, and all the complainers and attacks are from people who have not done business with us, I suggest there is no point to this thread.

The more that the two parties post in this thread, the less I like either of them. This is one of those instances where it's best to just let it die.

Linnear said:

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That would assume I would want to speak to you

Rest assured that that was the last thing on mind.

Linnear said:

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And since it seems almost everyone who HAS done business with Propworx is happy with us, and all the complainers and attacks are from people who have not done business with us, I suggest there is no point to this thread.

Some may not have done business with you, but at the end of the day, you have addressed members of this board, and under the circumstances, questions were sure to arise.

Discussing any matter whatsoever is, of course, your entire prerogative.

What you cannot prevent, however, is others from continuing to speak, so long as it is done in a civilised manner of course.

Have a nice day