Holy .... NGC just took PCGS behind the woodshed!

Isn't there a major dealer that's a silent partner with them? I thought I had read that before but I would love an official ownership list as well

 

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Wouldn't it be a hoot if Albanese was the majority owner?

 

lol. Cascade may have nailed the final outcome perfectly if that is the case

 

I wouldn't be surprised if he still has a stake in the firm but maybe not the majority stock holder. I don't know the stockholders but I do know that Heritage has a piece of it.

 

The suit would likely involve members of several states and given the amount sued for, it would likely be filed in federal district court. Anyone with a PACER account could easily find it if one were ever filed.

 

Doesn't Salzberg have some sort of ownership interest in NGC? If so and it is significant, I doubt he will be going anywhere.

 

He won't. Most people are glad he stood up and said something.

 

I'm going to disagree. I have my own opinion and this post is not about Mr. Salzbergs comments.

Someone I know received a copy of the press release about the same time it was made public. We have been monitoring the discussion on four forums since that time. True or not, it appears that opinions are split with an edge to "unfavorable" for NGC.

 

???

They're even "taking him behind the woodshed" on the NGC forum. I almost could believe that but most members there and elsewhere are heavily criticizing him from what I'm seeing, and I follow all forums.

 

I don't know what their corporate structure looks like but I'm sure a board or committee or the majority stakeholder can vote him out if needed unless he is the one who holds a majority stake in the company. Maybe not. The point is that I bet this is going to backfire big time.

 

It won't backfire. If anything, their business will pick up.

 

Would you like to make a little wager? Think carefully though. As you know I'm good at predicting outcomes

 

How would we determine a winner???

 

I don't believe Mr. Salzberg is going anywhere until it is his personal decision to make a change. I believe if anyone did some checking into the ownership of NGC they should find a well-connected web of "market-makers" with one big, benevolent, spider at its center. Say what you wish, whatever his motive, he has done a great deal for our hobby.

Major executives DO NOT make statements without a thoughtful process to anticipate the outcome including any legal aspects. Time will tell. At the least, it is free advertising and makes NGC look like the "protector" of grading standards to the uninformed collectors.

 

If NGC goes out of business or has deep layoffs as happened several years ago; or if Mr. Salzberg leaves the company (for any reason such as health) @Cascade wins. IMO, he will not win this one. Perhaps he'll pick the winner of the Super Bowl for us.

 

So pleased to see TPG's all pointing out the inherent flaws in their service. Hopefully this awakens the collecting community.

If you aren't smart enough to know the coin, and you buy it based on some TPG opinion.....well, then you get what you paid for.....someone else's subjective opinion that offers no guarantee. Sounds like a big waste of money.............now NGC has proven it.

Like I said...I am so pleased.

 

I was thinking about that too. Might be too ambiguous for a wager. Still, I think there will be backlash over this to the point where he and his board wish they had never executed such a strategy.

 

I agree with this. I do also agree with cascade though that this really isn't going to have the impact NGC is hoping it does just like the registry decision will likely hurt them in the long run

 

No big change in CLCT this week: https://www.google.com/webhp?sourceid=chrome-instant&ion=1&espv=2&ie=UTF-8#q=clct stock

 

When did NGC layoff graders?