Tuesday, August 19, 2008

Rick's rats on its clients

I gather the kiss-of-death for any brothel owner is to blow confidentiality. You do that once - and nobody much has any incentive to keep you in business.

The kiss of death for a "adult entertainment venue" is much the same. So it is with great interest I read this extract from the 3Q earnings release for Ricks - a listed consolidator of strip joints:

Eric Langan, President and CEO, said: "Both our internal growth and expansion by acquisition programs continue on course and we are looking forward to a strong performance at Rick's Cabaret Minneapolis in our fourth quarter, which should benefit from the Republican National Convention in early September." He noted that the company's cash position increased to approximately $13 million at the end of the quarter due to strong cash flow and a recent capital raise.

Are RICK's executives ratting on the Grand Old Party? Is this sensible?

In the mode of Fox News: "We report - you decide".

I might turn up at the next conference call to ask the poisonous question: how much did turnover in Minneapolis go up around the convention? But only after the obligatory congratulations for a great quarter guys...


1 comment:

Larry said...

"the kiss-of-death for any brothel owner is to blow confidentiality...."


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