i like everyone else am still waiting for payment. i suppose i'm running on faith. i stopped posting because, just being negitive over and over can't be a good thing. but i decided, venting and talking it out, can be a good thing. i hope to god the checks come within a few weeks, i would be suprised if they didn't,Bernie Friend.
Waiting Patiently
- Thread starter 8-ball bernie
- Start date
yeah, this whole thing is a total utter mystery. in the entire 500 years of billiards, i have never been witness, to such mysterious acts. i hope i get my $5,000. i still have faith,maybe i'm naive,but i still have a glimmer of hope.
8-ball bernie said:
People may goof on you and poke fun at you on this board, but when it comes down to it, you are a pool player who is getting the run around by a promoter.
Nobody liked it for Harriman. Nobody liked it for Earl. Nobody likes it for you. Hope you and the rest get paid soon.
8-ball bernie said:
This does not mean you won't get paid but the simple fact is, KT doesn't have much money and never did. He may wheel and deal and rob Peter to pay Paul and you will get your money but as far as the money in his pocket, no. He is a phony and always have been even with the success of the book, he is an illusion of creative debt management like a lot of people who spend their lives trying to create and keep up a false image.
I was asked by the moderator a while back to cool it with the KT stuff and I have but much of what I have learned confirms what I thought was the case from the beginning. In light of recent happenings in his world it is very evident he is strapped for cash at the moment. One is this announcement regarding his partnering up with Donald Barrett another TV con man he may have had dealings with in the past.
http://biz.yahoo.com/prnews/060911/dcm020.html?.v=61 When I first read this the first thing that came to mind was KT needs money since he is not a guy from who does partnerships unless he has to.
The next recent clue is this 9/27 article regarding his law suit
http://timesunion.com/AspStories/story.asp?storyID=520527&category=BUSINESS&newsdate=9/27/2006. This law suit is to restore his credibility and right after filing the suit he immediately tried to get the suit postponed for three years. That didn't make much sense since the sooner he could resolve the matter the better. Now he doesn't want to show his books or even a tax return that would be his proof that he has been harmed. Why, because it would show that he doesn't have any money and that the claims of huge book sales and profits were all false.
I subscribed to a company that does informicial research for a few week a while back. It showed that KT at one time was spending millions a month and running hundreds of TV spots a month. Was he making money, maybe but maybe not. He churned a lot of money, it came in and may have gone out just as fast because of the huge cost of operating. How do I know this? Well, because if you tracked his advertising you saw it go up and up and then drop off in a free fall till all advertising stopped. What this tells you is they had reached the point of diminishing returns, in other words as long as the spending of a dollar produced a dollar and a penny they were in the black. When it doesn't they have to cut back and the free fall snowballs and it is over quickly.
KT made some public statements when his second version of the book came out that they were not going to advertise it and see if it would sell through the book stores. That made no sense since their past success was through the informecials and the book store sales never did do well. So, the new book comes out and does not sell. He then in just the last couple of months goes back to the heave informicial blitz, he begins popping up all over the dial, but just for a short time and now it is back to almost nothing again. This tells you one or both of two things. One the book did not sell and two there is no money left to continue the advertising blitz. This recent advertising blitz attempt to revive the book may very well have drained the money ear marked to the IPT.
I think it goes without saying KT is very strapped for cash and scrambling to keep things going, not just the IPT but all his interests. KT's finances themselves are not that hard to track. As recently as three years ago he was broke and had to surrender all his cash as well as property, car and jewelry to pay off his fines. Then the book came out and he all of a sudden claims to be a billionaire. I remember Grady writing a post talking about what it means to be a billionaire. He talks about Oprah, Trump and so on. Does anyone in their right mind think a guy who was broke became a billionaire in 12 months selling $29.85 books on late night TV? Of course not, did he make some money, sure but it probably went as fast as it came, he has a pattern of this behavior. I can't help but keep coming back to what he told the judge when he was faced with prison time over defrauding AMX.
He said, he had no choice he was trying to keep his company afloat and didn't know what else to do. Had no choice, most people would have closed their business, not tried to steal money to keep it going. Does anyone think this is not the same guy who was standing before the judge? Does anyone think he will put the well being of a few pool players before his own or book business that is now floundering? The simple fact seems to be everything points to them not having the money to keep the IPT going, it was an illusion from the start. Again that doesn't mean you won't get paid, but I seriously doubt there will be any IPT in the future. Like I have said from the beginning of this whole thing, it just doesn't make sense and never has. I wish you luck Bernie
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I actually like your posts, macguy though many don't. Like the sun is responsible for casting shadows. Can't blame the sun for that. Its just the shadows that are there because of your bright mind. And then everyone gets upset about the shadows and forgets the sun. Then they even think you are the shadow. 
Though if kt sold 49% to eurosports and 51% to Mr Macau, he's loaded now.
Kinda funny, the IPT being 'new' and both players in the finals met ten years ago in a final.
I hadnt looked at this site for 2 weeks and everybody is saying its over. Its not. Just some higher laws of economics at work. haha
Though if kt sold 49% to eurosports and 51% to Mr Macau, he's loaded now.
Kinda funny, the IPT being 'new' and both players in the finals met ten years ago in a final.
I hadnt looked at this site for 2 weeks and everybody is saying its over. Its not. Just some higher laws of economics at work. haha
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baffled,confused,mystery,what other words, can be put forth? i hate to cause waves, but~~~ i'm trying not to bite the hand that feeds? me,or should have fed me. this whole situation reminds me of when an entire city blacks out, and everyone steps outside,questioning what happened, and when will the power go back on? the questions that run through our brains is staggering, we here at the forum are not trying to be assholes by having negitive words written,on the contrary, we had our hopes high in the clouds that the IPT could perhaps save pool as we know it, instead, we are for lack of a better term "in the dark" i hope that some offical can shed some type of flashlight on our darkened world,for it is most baffeling what the hell happened,agree? the question is how long is too long to wait for our checks?
Bernie Friend confused and sadened IPT member 2006.
Bernie Friend confused and sadened IPT member 2006.
I thought Bernie met Jimmy Hoffa's fate 
I guess you dodged the hit by hiding out for a while 
I guess you dodged the hit by hiding out for a while <<Does anyone in their right mind think a guy who was broke became a billionaire in 12 months selling $29.85 books on late night TV?>>
Right and just two years ago, in the Federal Trade Commission lawsuit, he was compelled to surrender his $2million California house and a $180k Mercedes as a fine. People don't surrender their houses and cars if they have any cash.
http://www.ftc.gov/os/caselist/0323064/040907stip0323064.pdf
Right and just two years ago, in the Federal Trade Commission lawsuit, he was compelled to surrender his $2million California house and a $180k Mercedes as a fine. People don't surrender their houses and cars if they have any cash.
http://www.ftc.gov/os/caselist/0323064/040907stip0323064.pdf
av84fun said:
av84fun, I didn't read all 29 pages in detail, but one of the provisions definitely caught my attention, #XIV, "Right to Reopen", there appears to be an "avalanche clause" that escalates the $2M fine to $20M in the event that any of the defendants or included enterprises is shown and proven to have given false financial information in relation to the settlement.
That means that if KT, or any other defendant, misrepresented their financial condition at the time, or that of any of the businesses and enterprises involved in the settlement they would, jointly and severally, own the government another $18M.
Just a stretch, but maybe he is reluctant to pay the three or four million owed for fear that he may be required to show it's source. I'm sure that the Feds would love to first make him very poor and then put him away for a long time.
macguy said:
You have absolutely no clue how much money KT has and your very, very twisted logic makes very little sense.
I always find it interesting how people like yourself who hate someone or something can search and find any negative thing anywhere to prove their point.
I wish we could research every thing you have ever done wrong in your life and publish this as fact. Do you know the end result? You would be considered a very evil person.
The only fair test for anyone or anything is to weigh the amount of good against the amount of bad and then draw your conclusions.
To this point as regards the pool world KT is still heavily on the side of good and even if he never paid anyone else he may still have done much more good than harm.
Just my opinions.
Gabber
Banned
If KT is a billionaire how come he can't pay 3 million in prize money? This is a guy who, according to Rackmsuckr, spent 140 mil in one day just for tax purposes!
The most logical and simplest conclusion for them not paying on time is that they don't have the cash. If they have the money, why don't they pay?
I agree with Mac, I read that at one point KT had 136 ads a week on just one TV station.
Gabber
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wayne said:
I think macguy's logic is very reasonable.
The discussion is about the IPT and KT. If you have any points on this topic, go ahead and make them. To attack the poster rather than discuss the points suggests that you lack any retort. You're shooting a messenger Wayne.
Dave
Gabber said:If KT is a billionaire how come he can't pay 3 million in prize money? This is a guy who, according to Rackmsuckr, spent 140 mil in one day just for tax purposes!
The most logical and simplest conclusion for them not paying on time is that they don't have the cash. If they have the money, why don't they pay?
I agree with Mac, I read that at one point KT had 136 ads a week on just one TV station.
Gabber
He's banned now from running commercial in TV.
Even an optimist like me who wants IPT to succeed is starting to wonder. Maybe KT was banking too much on immediate return, but it didn't happened.