Thursday, December 31, 2009

JT channeled by JB: The Statement

Link is in the title. Below is the complete, as posted, statement.

Ballers Cafe has just received confirmation that JT has set out to align themselves with a strategic partner which will help carry the brand and its storied line of products into the next decade. From the information that we have been able to gather, JT is actively looking to merge the business or license the brand in early 2010 with another company within the paintball industry that can match the strengths JT has held for over 40 years in the Action Sports Industry.
Riding on the momentum from a successful new products launch of its FX Concept line at the 2009 Paintball Extravaganza, all indications showed that JT in fact had turned the corner in their rebuilding strategy and were on the right path to significantly growing their position among the major paintball manufactures. This will definitely be a significant asset for whoever partners with JT by adding both the new and existing products and technology from JT / Viewloader into their lineup. Sources close to JT have also confirmed that they are also positioning the company for a probable merger by informing its employee’s of the pending changes and preparing them with different changeover scenarios, possible relocation, and probable work force reductions. Nothing has been set in stone or finalized at the time of this writing but from what we were told, JT is exploring all their options and narrowing the list for equitable partners.
After all the unsubstantiated negative press that has been circulating recently about JT closing its doors for good, the editorial staff at Baller’s CafĂ© ensured that it had all the facts correct and that we spoke to the right people who would give us the correct information before we released anything. One additional and very important point we did managed to obtain was that in no way were the leaders of JT just going to “shudder the brand” and let it die. There is too much pride and commitment within the JT organization to let that happen. If, and only if, the leadership team is ensured they have the right partner that is a fit for the JT name, then they will move to lock in a deal. JT has been in business for 40 years and is looking to be in business for at least another 40 more, except this time they will do so with the right partner who is as passionate about paintball as they are. More will be added on Ballers Cafe as the news to who JT will be partnering with becomes public.

Before I get started I want to say how much I respect Rich and the XSV kids and that I appreciate their loyalty to JT. I only hope it is returned.

With respect to the above statement I have a few comments.
There was no effort involved to "find the truth", it is a prepared statement, an embarrassingly obvious prepared statement.
The claim is that JT is actively seeking "a partner"--which means they need a buyer. Did the hunt begin yesterday? The day before maybe? Why do they need a buyer? Did they just discover this "fact" in the last 10 days? That vicious rumor is completely untrue but come to think of it we sure could use a buyer. Maybe for the same reason they closed down the Neosha paint plant recently? (See yesterday's post and link.)
Regarding employees it's relocation and/or loss of employment--and that's if they find a buyer?
Does the Baller's Cafe have all the facts correct or is JB simply passing out the party line? And could somebody actually learn the English language for god's sake? "shudder the brand" Are you kidding me?
And finally, there's too much pride to let it die but if and only if the right partner is found will a merger/sale/whatever go forward. (The very definition of empty blather. I checked. Webster's says so.) But what happens if the right partner isn't found? (And the list of candidates seems to be shrinking daily.)

Fortunately for the great unwashed paintball still has a few remaining beacons of truth willing to seek the truth and give us the facts in the face of unsubstantiated negative press. Knowing that, I for one, rest easier.


Reiner Schafer said...

How many eligible companies that might be the right fit (right partner with equal passion about paintball) could there possibly be? I would think an hour or two on the phone by JT heads would find out if there is any potential interest at all out there. If interest, then there would be negotiations. After negotiations were completed (or failed) a statement would be released. Isn't this the way these kind of things would normally be handled?

Hang on, a statement has been released. Does that mean obvious avenues have been pursued already? My guess is, yes.

Industry In/Outsider said...

I have to say, I'm amazed and somewhat disappointed at the same time that you have shown so much restraint in your commentary...
I know I would not give them any, because of that I chose not to comment on it in any way.