NCsoft Corporation to Sell Entire Shares of NC Interactive Inc.

[Lucretia MacEvil]

NCsucks can shuffle paper all they want; I just want CoX back!

[Leandro]

I have zero hope in CoH returning

I have 100% confidence in COH returning, through a community server, with updates from the community itself. Remember that many of our devs were players first, too. I see no reason why we wouldn't find creative people to make content again.

If you follow my Twitter, you'll see I've been already messing around with editing maps. New zones are completely possible, and hell will freeze twice over before we hit the limits of possible new NPCs with the costume creator.

[Victoria Victrix]

I just woke up to this, I had no idea.

And I have no clue. 

Larry suggests:

A creative accounting move, I suspect.
Larry: "You can't sue us for anything, that company no longer exists!"

[Rae]

I am almost as baffled as the baffled analyst in the Korea times article.

But to be fair, that's pretty much my default state.

[Ampithere]

File me in the "Wut?" column.

On the plus side, paper shuffling of this sort may work to our advantage as far as community servers are concerned. I'd imagine it will be more difficult for them to prove ownership of any IP that may or may not be violated if they are busy dodging taxes.

Speaking of that, is that legal? It sounds like the sort of thing that's not legal. Of course, businesses probably get to do all kinds of things that would land me in federal prison. I can't make taxes go away by throwing stacks of paper at them. 

[Kistulot]

Speaking of that, is that legal? It sounds like the sort of thing that's not legal. Of course, businesses probably get to do all kinds of things that would land me in federal prison. I can't make taxes go away by throwing stacks of paper at them. 

Bare in mind even if it isn't, proving that costs more capital than any of us have.

[Atlantea]

Bare in mind even if it isn't, proving that costs more capital than any of us have.

Maybe. Maybe not.

Depends on if we find a relatively young, up-and-coming politically ambitious State Prosecutor in California interested in making his mark by investigating the shady dealings of a foreign company possibly involved in tax evasion and responsible for multiple job losses in the silicon valley tech sector.

Put a few of the right words in the right ears... Interesting things might happen.

[JanessaVR]

Maybe. Maybe not.

Depends on if we find a relatively young, up-and-coming politically ambitious State Prosecutor in California interested in making his mark by investigating the shady dealings of a foreign company possibly involved in tax evasion and responsible for multiple job losses in the silicon valley tech sector.

Put a few of the right words in the right ears... Interesting things might happen.

That's devious.  And vicious.  And mean.

I like the way you think.   

[Surelle]

Maybe. Maybe not.

Depends on if we find a relatively young, up-and-coming politically ambitious State Prosecutor in California interested in making his mark by investigating the shady dealings of a foreign company possibly involved in tax evasion and responsible for multiple job losses in the silicon valley tech sector.

Put a few of the right words in the right ears... Interesting things might happen.

You would really have to have a boatload of proof first.  We can't very well tell them to investigate NC for potential tax fraud because we don't like NCSoft and they shut down our favorite game.     

But I wonder if the "inside source" at NC Korea who told Fansy and VV that all ties are broken once the game closes *really* meant "after this deal goes through."     Things that make ya go "Hmmmmm."  I wonder if Fansy has heard anything new.  Maybe we should try and PM him after this December 24th deal goes down.

[Manga]

I can *sometimes* speak Corporation.  NCSoft is a particularly insane corporation, though, so it's more difficult to tell.

Anyway, what they're doing looks like they're dissolving the entire U.S. based subsidiary, and creating a new one as a stockholder of NCSoft.  Stockholder as opposed to wholly owned subsidiary.

This serves three purposes: 

1.  It's pretty likely this means everyone working for NCSoft or Arenanet outside of Korea are now fired.

2.  They're doing a ghost stock buy-back (creating a subsidiary to buy back stock, reducing the volume, and hopefully boosting the price), which looks better for their stock on the Korean side.  I think that might be illegal in the U.S. to do that, but I guess it's completely legal there.

3.  Gives an opportunity to anyone willing to deal in Korean currency who wants to buy out their U.S. operations.

[Victoria Victrix]

I'm fumbling blindly here--

Could this be a way to shed all of their NCSoft Interactive employees without providing a severance package?

[JWBullfrog]

I would not put it past them. It's a perfect NCStupid move
Actually, I put nothing past corporations. I've worked for too many of them.

[corvus1970]

Actually, I put nothing past corporations. I've worked for too many of them.

Ah, a kindred spirit!

[Victoria Victrix]

.....

This could be a way not only to shed all of their NCSoft Interactive employees without a severance package, but to rehire them at lower pay and with fewer benefits.

[Golden Girl]

.....

This could be a way not only to shed all of their NCSoft Interactive employees without a severance package, but to rehire them at lower pay and with fewer benefits.

What kind of evil company would do that?

[Victoria Victrix]

What kind of evil company would do that?

 

[Atlantea]

I can *sometimes* speak Corporation.  NCSoft is a particularly insane corporation, though, so it's more difficult to tell.

Anyway, what they're doing looks like they're dissolving the entire U.S. based subsidiary, and creating a new one as a stockholder of NCSoft.  Stockholder as opposed to wholly owned subsidiary.

This servers three purposes: 

1.  It's pretty likely this means everyone working for NCSoft or Arenanet outside of Korea are now fired.

2.  They're doing a ghost stock buy-back (creating a subsidiary to buy back stock, reducing the volume, and hopefully boosting the price), which looks better for their stock on the Korean side.  I think that might be illegal in the U.S. to do that, but I guess it's completely legal there.

3.  Gives an opportunity to anyone willing to deal in Korean currency who wants to buy out their U.S. operations.

Allow me to amend my idea from above then.

Find a relatively young, up-and-coming politically ambitious Prosecutor. Could be a State prosecutor.

Or - if you want to REALLY get mean - an IRS investigator or one from the Federal Treasury Department!

See if the investigator in question might be interested in investigating the money shuffling of a foreign company possibly involved in insider trading and stock manipulation (And maybe tax evasion too. Worth looking into if you're looking for the other stuff too) and that if they are trying to manipulate their own stock on the sly, that as a direct result of that manipulation, they are responsible for dozens of job losses in the silicon valley tech sector.

Who said WE need the proof? Just point out to the investigator that NCSoft's money trail looks awfully weird. Maybe you might want to look into this?

If he or she looks into it and says "No - there's nothing there. What they're doing is perfectly legal by US and California law."   Then hey - no harm, no foul.

But if they look into it and say, "Hey... that's strange..."

Well then. Well well well.


And JanessaVR? I appreciate the compliment. (bows)

But you know, I'm normally not a sneaky, devious vicious bastard.

Unless you MOTIVATE me.

Right now? I'm VERY motivated!   

[Surelle]

I can *sometimes* speak Corporation.  NCSoft is a particularly insane corporation, though, so it's more difficult to tell.

Anyway, what they're doing looks like they're dissolving the entire U.S. based subsidiary, and creating a new one as a stockholder of NCSoft.  Stockholder as opposed to wholly owned subsidiary.

This servers three purposes: 

1.  It's pretty likely this means everyone working for NCSoft or Arenanet outside of Korea are now fired.

2.  They're doing a ghost stock buy-back (creating a subsidiary to buy back stock, reducing the volume, and hopefully boosting the price), which looks better for their stock on the Korean side.  I think that might be illegal in the U.S. to do that, but I guess it's completely legal there.

3.  Gives an opportunity to anyone willing to deal in Korean currency who wants to buy out their U.S. operations.

I can't imagine them getting away with firing all of ArenaNet's dev team.  Do you know how hard it is for an entirely new team to pick up game code and run with it?  I mean, they're going to have to hire somebody to carry on!  And I've read somewhere or other (I think on the forums here) about ArenaNet having an escape clause built into their contracts where they could buy out their GW franchise if it came to that.  AN just seems to savvy to let NCSoft totally tank them in one fell swoop like that.  And they have never messed with them before.

Does Guild Wars 2 sell well in Korea and Asia, or only mainly in NA and EU?  I thought the Asians were big into it too; GW1 was overrun with Koreans in the arenas back when it first came out anyway.  I mean, why mess with success, especially so early on in GW2's lifespan.  I'd imagine there are several expansions planned already.

[Nyx Nought Nothing]

What kind of evil company would do that?

Most companies. There are some privately held companies that have a model where providing better pay and benefits for employees produces better quality work and motivated, loyal employees (Costco being one example), but most publicly held companies treat all employees as being essentially identical and thus providing the least amount of compensation possible is always the goal. NCsoft is one of the latter, but it's not so much evil per se as callous. As always there are exceptions. (NCsoft is not exceptional in this or any other manner.)

[corvus1970]

Most companies. There are some privately held companies that have a model where providing better pay and benefits for employees produces better quality work and motivated, loyal employees (Costco being one example), but most publicly held companies treat all employees as being essentially identical and thus providing the least amount of compensation possible is always the goal. NCsoft is one of the latter, but it's not so much evil per se as callous. As always there are exceptions. (NCsoft is not exceptional in this or any other manner.)

Golden Girl was being facetious.