In case you've forgotten, Global Entertainment is the events center management company paid $100,000 in about August by CFAB/Dodge City Commission/Ford County Commission to wait and see when we build an events center. Their weak financial position was noted at the time by some, a position that has gotten weaker since. I guess that $100,000 fee from CFAB was really needed. And no doubt a better review.
This is from the Feb. 19, 2008 issue of
The Business Journal of Phoenix: Global Entertainment Corp., a public company that develops sports multi-purpose facilities and operates the Central Hockey League, is exploring options, including a possible sale of assets
Global Entertainment considers sale of assets - The Business Journal of Phoenix:
And from one financial firm is the filed financial statements of Global:
On January 14, 2008
, Global Entertainment reported fiscal second quarter net revenues of $3.0 million and a net loss of $0.6 million or $(0.09) per share. In the year ago period, GEE reported revenues of $12.8 million and net income of $0.1 million or $0.02 per share.
Revenues decreased primarily due to lower ICC project management fees stemming from a decrease in major projects under management. Revenues at some subsidiaries increased as the Company realized the initial benefits of its integrated strategic approach of providing add-on services.
As of November 30, 2007, the Company was not in compliance with the covenants of both of its credit facilities; however, it received a waiver from its lenders.
http://www.taglichbrothers.com/equit...t-02042008.pdf