FTP Discussion Thread (Everything but big new news goes here. Cliffs in OP) - Page 2 - Poker News

99killed · 08-26-2011, 02:32 AM

ftpinformant, are you out there ???

looshle · 08-26-2011, 02:33 AM

Quote:

Originally Posted by EYESCREW

Logic would dictate that if a failing business were taken over new management would be brought in and if a thriving business were taken over/bought out there would be a better chance of keeping the present management team intact.

Genher is under the impression, forgive me if I'm wrong, that Full Tilt was this thriving business prior to Black Friday. In light of all the information released since April 15th it's pretty clear that FT was not thriving at all.

I wouldn't say FTP wasn't a thriving business. They made millions and managed their money terribly. A good comparison would be a really good poker player with bad bankroll/life management. FTP was making a ****load of money and only have themselves to blame. If they weren't a thriving business, people wouldn't be looking to put 350 mill into their company, which would 100% happen if it wasn't for the DOJ.

gradx · 08-26-2011, 02:41 AM

Quote:

Originally Posted by looshle

I wouldn't say FTP wasn't a thriving business. They made millions and managed their money terribly.

why leave money on the table for the DOJ? they knew their days were numbered and kept paying out dividends to keep cash flow low...it was intentional and...failure by design. it was an illegal business and they flaunted it on TV to the ire of politicians and prosecutors.

don't say it was mismanagement, they were riding the gravy train as hard and as fast as they could while their time was limited. remember, the DOJ was sending cease and desist notices for quite some time and started rolling in the indictments and arrests

edit: and it was the ONLY poker site I know primarily owned by United States citizens. take that fwiw and you can see the big picture, especially when they weren't a major player until Party/Empire/Ongame exited the U.S. Yep, FTP was a late comer with great software, low traffic and full of rocks with the lowest rb % of any site save pstars.

Diamond_Flush · 08-26-2011, 02:48 AM

Quote:

Originally Posted by yegor

new hearings should take place before Sept 15th and we should get an announcement 2 weeks before that. amirite?

I know I have posted this more than once, but iirc, there should be 7 days notice before a hearing, not 14, and that notice is due from the AGCC to FTP, not to the public. There is nothing that requires the AGCC to give any specific advance notice to anyone but FTP, however, I think they obviously will post an update on their site under the circumstances.

At last word, the hearing was postponed to be no later than Sept 15.

looshle · 08-26-2011, 03:16 AM

Quote:

Originally Posted by gradx

why leave money on the table for the DOJ? they knew their days were numbered and kept paying out dividends to keep cash flow low...it was intentional and...failure by design. it was an illegal business and they flaunted it on TV to the ire of politicians and prosecutors.

don't say it was mismanagement, they were riding the gravy train as hard and as fast as they could while their time was limited. remember, the DOJ was sending cease and desist notices for quite some time and started rolling in the indictments and arrests

edit: and it was the ONLY poker site I know primarily owned by United States citizens. take that fwiw and you can see the big picture, especially when they weren't a major player until Party/Empire/Ongame exited the U.S. Yep, FTP was a late comer with great software, low traffic and full of rocks with the lowest rb % of any site save pstars.

their days were numbered? if they managed the company and money correctly, they'd be in the same boat as Stars, most likely the 2nd biggest site in the world. With the right decisions, they'd be doing fine, the people calling the shots just abused it and ruined it's chances to thrive.

AllBlackDan · 08-26-2011, 03:48 AM

Lol at Full Tilt not communicating what has happened/is happening to their players!!

So fn tiilting!

You would think they would send at least a cookie cutter "everything is fine, we are working out some licensing/financing issues" (ie LIE) to their loyal customers explaining why their site isn't up and working, but no, nada, just complete and utter silence!!

It's amazing how contemptuous they are being toward their customers!!

Not even making an effort to explain or even lie to them about why they can't get their money or get to their site, not everyone reads 2+2 so there mustve been a lot of in the dark fishies.

Going to their website is a laugh, only way someone would know whats happening would be to click on the Alderney Gaming Authority logo and it links to their statement.

This company sucks balls and I wish I never contributed any money to their thievery fund!!!

Rant over/

dear23 · 08-26-2011, 03:52 AM

Quote:

Originally Posted by gradx

who is FTP's lead technical and software architect(s)? he'd be the primary asset i would want and he'd come cheaper than purchasing the company

Exactly. I think the fantastic software fooled many of us. It appeared like the company was in good hands. By the time the site went down, its software was by far the best in the market. I'd hire those software guys in a second if I was in a position to do that.

Too bad I didn't know that there's one company for software and another for customer service and money handling. It's now obvious that the latter was a complete scam. Only an idiot would hire that leadership. For example, the CS has been a constant subject on the forums for years - never any improvement in it.

FTP was the Traci Lords of poker. A lot of FUN while it lasted.

MICK E JUICE · 08-26-2011, 03:52 AM

Quote:

Originally Posted by AllBlackDan

Lol at Full Tilt not communicating what has happened/is happening to their players!!

So fn tiilting!

You would think they would send at least a cookie cutter "everything is fine, we are working out some licensing/financing issues" (ie LIE) to their loyal customers explaining why their site isn't up and working, but no, nada, just complete and utter silence!!

It's amazing how contemptuous they are being toward their customers!!

Not even making an effort to explain or even lie to them about why they can't get their money or get to their site, not everyone reads 2+2 so there mustve been a lot of in the dark fishies.

Going to their website is a laugh, only way someone would know whats happening would be to click on the Alderney Gaming Authority logo and it links to their statement.

This company sucks balls and I wish I never contributed any money to their thievery fund!!!

Rant over/

They made a statement...cliffs are at start of this thread

insidemanpoker · 08-26-2011, 04:02 AM

Man, Noah, we need to get those answers from Ifrah/FTP fast because this discussion is denigrating to the lowest level

Not anybody's fault, but the baseless speculation has returned. No day it's positive, then next negative. I would say the truth lies in between hdmet/Ledason and Gehner.

cjm8301 · 08-26-2011, 05:08 AM

the comment that one day its positive, the next day its negative is very tilting to me. what have we seen positive come out of the full tilt situation? rumors and people talking about potential investors? i truly hope that everyone who has money on full tilt gets it (myself included), but the fact that none of us in the US have seen a penny since black friday and full tilt acting like they don't give a s*it about their players is simply ridiculous. obviously they don't care about how they treat their players, but if they would at least take 5 minutes a week they could tell us what the situation is with OUR money that they mismanaged (to put it nicely). i can't believe guys like lederer and the rest of the people who own shares of the company would allow their fellow poker players to be treated so poorly when they obviously can do something about it!

insidemanpoker · 08-26-2011, 05:46 AM

For those who really do believe they have a less than 20% chance of getting paid by FTP, please PM me.

That includes you LedaSon.

V-Delaney · 08-26-2011, 06:19 AM

Quote:

Originally Posted by insidemanpoker

For those who really do believe they have a less than 20% chance of getting paid by FTP, please PM me.

That includes you LedaSon.

Expect your inbox to be full very soon

munkey · 08-26-2011, 06:22 AM

Thanks for the super detailed list of questions noah et al, I'd assumed there was a limit on the number but I guess if not then max the opportunity.

Will be interesting the response, I expect it to be delayed by FTP and he'll have to announce that there will be an announcement when they are ready

coolnout · 08-26-2011, 06:48 AM

Quote:

Originally Posted by insidemanpoker

For those who really do believe they have a less than 20% chance of getting paid by FTP, please PM me.

That includes you LedaSon.

Is there some reason you believe otherwise? I'd love some optimistic news.
Lately all the news about ftp have been negative and haven't seen any other reason to think otherwise.

Big Mack · 08-26-2011, 07:20 AM

Quote:

Originally Posted by insidemanpoker

For those who really do believe they have a less than 20% chance of getting paid by FTP, please PM me.

That includes you LedaSon.

Instead of PMing you, can you just tell us?