Trudeau Interview on Billiards Digest website

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I got a call from a friend today. He had been on the phone with the SPOUSE of an IPT player. So, this is 3rd hand and I don't know what to believe.


Anyway, The SPOUSE had been on the phone with KT and revealed to the SPOUSE that the IPT had been sold to HO for 100 Million.

Do I believe it? I believe the friend that called me and I believe that that is what KT told the SPOUSE.

After reading the BD Interview, I believe that KT knows nothing about truth and really believes that most people are very stupid. His arrogance goes beyond reality. He has little if any knowledge of the difference between right and wrong.

I choose not to believe one word this person says.

I apologize to Linda.
 
BigDaddyInc. said:
This guy sucks i think the players should dump him and kick him to the curb i would'nt show up to another event boycott his a#%!!
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I agree!!! let go back to the UPA. 12k for first place....$500 for 5th..Aw the good ole days
 
Fleece3 said:
I agree!!! let go back to the UPA. 12k for first place....$500 for 5th..Aw the good ole days
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What difference does it make to you? I bet you can't make two balls in a row anyway.
 
KT: There’s two ways to look at profit. There’s profit and there’s cash flow. When you write a proforma and have a sponsorship package that comes in at $1 million, that goes onto your books as revenue even though it hasn’t hit your account yet. And then you depreciate certain expenses over five years. You can look at it that way and say this is a very profitable business on a proforma basis.

Now cash flow, on the other hand, may be very tight and may even be upside down for a while. So, in terms of cash flow, we’re currently putting out a lot more than we’re bringing in. But in terms of what’s on the books for revenue, etc., it’s very solid.

BD: The qualifiers have become a bit of a problem. Participation is dwindling, in large part caused by the credibility hit the IPT has taken recently.

KT: If I’m a player out there and I hear that the IPT players haven’t been paid, I may seriously question whether the IPT is going to be around next year and if it’s wise for me to risk $2,000 into a qualifier.

BD: There are certainly a number of players who have turned their lives upside down, quit jobs, borrowed money, etc., banking on your promises with the IPT. How many tournaments can they bank on in 2007?

KT: I can’t give you a specific number right now. I think we have 10 or 11 in the books. We’ll be close to that. We may have to scale back a little bit, I’m not sure. Our first objective is to get the players paid, get our next tournament behind us and get through the IPO. Once we have that, we can lock up sponsors for 2007

In reading the BD interview with KT, certain items raise some red flags:
1. How much money will be raised in the IPO and how successful will the IPO be? The financial markets can be extremely efficient in valueing new enterprises and may value the IPO at much less than what KT is expecting.
2. KT is apparently planning on using the IPO proceeds to meet the 2007 payroll and pay other expenses too. Using the IPO may be fine for getting the business off the ground but ultimately, the income from sponsorships, tv and the qualifiers, needs to be sufficient to pay the IPT's expenses.
3. KT admits that in terms of cash flow, he is spending much more than he is bringing in, however, he says that revenue-wise, business is "very solid." Based upon what we know, is this business as solid as KT says it is? Is KT playing an accounting game in how he defines profit and cash flow?
 
Well, I got blasted when I said this before.....but screw it, I'm saying it again :
KEVIN TRUDEAU = SCHEISTER!!!!!!!!

Southpaw
 
AzHousePro said:
http://www.billiardsdigest.com/trudeau_interview/

Let the games begin.

Mike
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You have to admire a man who can look you in the eye, and lie to you with a straight face. And tell a different story to everyone he talks to. Of course, how can he remember what he said yesterday. This is what happens to all liars. They forget who they told what to. They get caught up in their own web of deceit.

Mike at BD tripped him up several times, and KT tried to bob and weave around it. He sounded like a man who got caught, but wasn't ready to give it up yet. He may never. It will be one explanation after another, until he fades into the haze. This one time may be his undoing though.

Months ago, I verbalized my concerns about the IPT, KT, the Qualifiers and the much delayed Tour. Now I am thinking that this is one huge mis-step for Trudeau, that may ultimately lead to his downfall, incarceration and slide into obscurity. Where he rightfully belongs.
 
The K*&T BD interview was, IMHO, a step UP!

He was more honest about his vision with regards to the future of the IPT than he's been. Less bu!!sh!t orientated towards soliciting participants for qualifiers and/or making the players feel warm and fuzzy about the future.

Based on his statement about the players trying to borrow money its obvious he doesn't know pool players, understand the lifestyle, like them or respect them. Great pool players are rarely from privilged backgrounds and have endured more than a few bad rolls.Not many are financialy responsible.

What bothers me the most about the interview is he wasn't CLEAR how he was going to make up the initial funding shortfall. He said HE would make up the differance but not HOW and WHEN......just venting

By being more truthfull more people now see him for what he is.
 
ribdoner said:
What bothers me the most about the interview is he wasn't CLEAR how he was going to make up the initial funding shortfall. He said HE would make up the differance but not HOW and WHEN.
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The funding shortfall will be covered by the proceeds from the IPO. The more successful the IPO is, the more money he has for his tournaments...and vice versa.
 
KT said....<<When you say financing is “in escrow,” you have commitments, letters of credit from financing institutions and sometimes the financing package just doesn’t turn out like you expected.>>

I have said this over and over...I don't mind at all that a spectacular business venture was attempted and didn't turn out as first expected. Risk is what built America.

But when things fall short of expectations...LYING about what is going on is simply inexcusable.

Mr. Trudeau is a sophisticated businessman and he KNOWS VERY WELL WHAT ESCROW IS....and it is NOT what he said above.

"Escrow" is....according to Webster and everyone who has passed a highschool econ class..."a deed, a bond, money, or a piece of property held in trust by a third party to be turned over to the grantee only upon fulfillment of a condition.

There was never any escrow account or trust...just promises based upon unrealistic expectations. But KT has built a career and a marketing empire based upon lies and upon certain infamous occasions...fraud. Personally, I think he is a pathological liar and just can't help himself...I think he will try to lie his way out of any and all negative outcomes and just like someone quoted in another thread..."fake it until you make it."

Jim
 
poolsharkallen...<<The funding shortfall will be covered by the proceeds from the IPO.>>

MAY be covered by the IPO not "will be coverd." The IPO IF THERE IS ONE is Mr. Ho's IPO not KT's. In FACT, I know of no credible source of information that Ho is even CONSIDERING allocating ANY PORTION OF HIS IPO proceeds to the IPT. Are you aware of any such credible source? Just curious.
Regards,
Jim
 
wacheck...<<if he cares at all about exposure and future credibility, then maybe this BD interview will make him more accountable to his promises to pay the players.....>>

And maybe Tinker Bell will mate with Bugs Bunny and produce Tinkerbunnies.

(-:
 
av84fun said:
poolsharkallen...<<The funding shortfall will be covered by the proceeds from the IPO.>>

MAY be covered by the IPO not "will be coverd." The IPO IF THERE IS ONE is Mr. Ho's IPO not KT's. In FACT, I know of no credible source of information that Ho is even CONSIDERING allocating ANY PORTION OF HIS IPO proceeds to the IPT. Are you aware of any such credible source? Just curious.
Regards,
Jim
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Hey Jim,

Why confuse people with the truth? It's much better to leave them with lingering hope.
 
Wally...<<"Let’s put it behind us and move ahead."
sounds like a politician caught with his pants down.>>

Yep...that's certainly what Clinton said to Lewinsky that day in the Oval Office!!! (-:
 
PoolSharkAllen said:
The funding shortfall will be covered by the proceeds from the IPO. The more successful the IPO is, the more money he has for his tournaments...and vice versa.
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You and I have the same opinion,but, that's all we have. I would just like to see K*&T step up, grow a pair and be very plain about how and when he will make up the differance between the initial funding and his financial obligations from RENO.
 
av84fun said:
KT said....<<When you say financing is “in escrow,” you have commitments, letters of credit from financing institutions and sometimes the financing package just doesn’t turn out like you expected.>>

I have said this over and over...I don't mind at all that a spectacular business venture was attempted and didn't turn out as first expected. Risk is what built America.

But when things fall short of expectations...LYING about what is going on is simply inexcusable.

Mr. Trudeau is a sophisticated businessman and he KNOWS VERY WELL WHAT ESCROW IS....and it is NOT what he said above.

"Escrow" is....according to Webster and everyone who has passed a highschool econ class..."a deed, a bond, money, or a piece of property held in trust by a third party to be turned over to the grantee only upon fulfillment of a condition.

There was never any escrow account or trust...just promises based upon unrealistic expectations. But KT has built a career and a marketing empire based upon lies and upon certain infamous occasions...fraud. Personally, I think he is a pathological liar and just can't help himself...I think he will try to lie his way out of any and all negative outcomes and just like someone quoted in another thread..."fake it until you make it."

Jim
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No no Jim, this is a new kind of escrow. It's called a TruEscrow. You may not have heard of this one before.
 
KT said....<<Do you know how many players came up to me asking for a loan? Almost 50. I was a little ticked off at that.>>

Yeah and they probably said they would put up their promised prize money as collateral and THAT is what pissed Trudeau off!!!

(-:
 
Jay...<<Why confuse people with the truth? It's much better to leave them with lingering hope.>>

Ooops! Rignt you are. Now I'll have to take a 30 day suspension from the KT Admirer's Club for letting the truth slip out like that!!!!

(-:

Jim
 
Jay...<<No no Jim, this is a new kind of escrow. It's called a TruEscrow. You may not have heard of this one before.>>

DAMN! That's ANOTHER 30 day suspension from the KT Admirer's Club. Now I'm busted for 60 days! One more violation and I might get 5-10...WOE IS ME!!!!!!!!!!!! )-:

On
 
av84fun said:
poolsharkallen...<<The funding shortfall will be covered by the proceeds from the IPO.>>

MAY be covered by the IPO not "will be coverd." The IPO IF THERE IS ONE is Mr. Ho's IPO not KT's. In FACT, I know of no credible source of information that Ho is even CONSIDERING allocating ANY PORTION OF HIS IPO proceeds to the IPT. Are you aware of any such credible source? Just curious.
Regards,
Jim
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I think it is implicit that some or all of the proceeds from the IPO will be used by the IPT. However, this now raises the question as to what kind of business (gambling, pool, gaming) the IPO will be financing?
 
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