Monday, November 5, 2012

ICM reduces workforce by 25

"Our efforts in recent years focused on developing various products/services . . ."

SEE HERE

SkunK

32 comments:

Anonymous said...

Aka we need more money for our losing legal battle so adios to 25 peeps.
Nycdream

Anonymous said...

Oh yeah how's that indemnification looking now
Nycdream

nobody12378 said...

Missing the BIG picture -- where is the money going to come from to pay the award? No debtors prisons in this country.

Anonymous said...

When the powers that be hire friends instead of qualified people, the number of employees becomes inflated past levels that are adequate to run the company. Dave VanderGriend is directly to blame for turning a blind eye to this practice at ICM as the number of his employees has more than doubled in the last couple of years. Consequently, those that were hired because they knew one of the higher ups have kept their jobs during this layoff regardless of how much they actually knew about ethanol or how productive they were within the company. Shame on Mr. VanderGriend for taking a hands off approach in the growth of his company. He was too busy "promoting" ethanol to see that there were corrupt individuals who were only interested in furthering their own agendas.
former employee
Wichita, KS

Anonymous said...


It's amazing the way ICM treats people...I wonder if Dave actually knows about the deals...the way ICM employees with good performance reviews are laid off so that managers can give consulting contracts to their spouses companies.

Anonymous said...

from icm profits, or assets.

Anonymous said...

Infringement takes a toll.

Anonymous said...

If Romney wins tomorrow he will bring back debtors prisons.

Anonymous said...

losing in court
losing employees
indemnification is a empty promise when they can't keep there own house in order

Anonymous said...

I smell blood in the water............................................./\..................

Anonymous said...

..../\......

Anonymous said...

SHARK!!!

nobody12378 said...

People are waiting, almost breathlessly, for the Q3. I think that there is only one likely issue that could be addressed in the Q3 that would have a significant impact on the PPS.

The PPS is not driven by earnings or quarterly filings. Financing, dilution, settlements, and litigation closure are the keys. If earnings drove the PPS why on earth would we be selling at a nickel with an estimated yearly earnings per share that could rival twenty-five cents? If we do not hear about new financing by January 7, 2013 it did not happen. New financing would require a SEC 8-K that must be filed within 4 business days of its execution. Even the external communication choke-hold the attorneys have on GERS cannot block that filing. Therefore, we have only a few days before YAGI owns all of this, possibly leaving the common shareholders in the cold. That is why we are selling at a nickel -- the price point between future potential and the increasing anxiety and risk of no announcement of new financing -- yet. I would say that if the Q3 is silent on new financing that there will be significant pressure on the PPS regardless of what else is in the Q3 filing.

Anonymous said...

dipchit donkey boy HEE HAW^

Anonymous said...

renegotiating with YAGI does not require and 8k.

nobody12378 said...

You are wrong -- may take a little reading above the 5th grade level but the language is clear.

http://www.sec.gov/answers/form8k.htm

nobody12378 said...

A report on this form is required to be filed or furnished, as applicable, upon the occurrence of any one or more of the
events specified in the items in Sections 1 - 6 and 9 of this form. Unless otherwise specified, a report is to be filed or furnished within
four business days after occurrence of the event. If the event occurs on a Saturday, Sunday or holiday on which the Commission
is not open for business, then the four business day period shall begin to run on, and include, the first business day thereafter.


Item 1.01 Entry into a Material Definitive Agreement.
(a) If the registrant has entered into a material definitive agreement not made in the ordinary course of business of the
registrant, or into any amendment of such agreement that is material to the registrant, disclose the following information:
(1) the date on which the agreement was entered into or amended, the identity of the parties to the agreement or amendment
and a brief description of any material relationship between the registrant or its affiliates and any of the parties, other than in respect
of the material definitive agreement or amendment; and
(2) a brief description of the terms and conditions of the agreement or amendment that are material to the registrant.
(b) For purposes of this Item 1.01, a material definitive agreement means an agreement that provides for obligations that are
material to and enforceable against the registrant, or rights that are material to the registrant and enforceable by the registrant against
one or more other parties to the agreement, in each case whether or not subject to conditions.

And there is much more which states that any such agreement must be filed -- read at your leisure.

Anonymous said...

Spreading rumors about no refinancing without knowing is just wild speculation and serves no purpose except to fill shareholders with anxiety. Why not save your "Panic Posts" until REAL news is issued.

Anonymous said...

300 highly skilled workers furloughed since this litigation began. Jobs to pay for litigation. It's so sad to watch the company he built ground up crumble like it is. Self inflicted destruction.
former employee

nobody12378 said...

We know that there has not been refinancing as of four days ago. Ignoring the lack of news that must be filed with the SEC and the resultant lack of progress on this issue critical to common shareholders is absolutely fraudulent pumping.

Anonymous said...

the pimp got punkt

Anonymous said...

when YAGI screwed up the agreement through its various assignments, was an 8k filed? NO!

nobody12378 said...

Maybe you should consider reporting them to the SEC? The language is very clear and the definitions laid out for all to read on their web site.

nobody12378 said...

This "financing" definitely comes under the 8-K requirement. Why? Well why would YAGI make such an agreement (rolling over the old agreement), when calling the note and selling off the intellectual property would yield much more than the value of the note? It is theirs on December 31 for the calling. We are much further along now in the legal process than we were when the financing was last renegotiated. The IP is much more valuable because of our $117 million that has been used in part to defray these huge legal costs and move the litigation forward. You do not consider the take over of GERS adverted due to a new financing agreement a material event? Then you must not own stock in the company.

Anonymous said...

have you seen much dilution lately? NO!

Anonymous said...

get up and go vote ROMNEY 2012!!!!

Anonymous said...

Go O b a m a .................

Anonymous said...

back to kenya^

Anonymous said...

Realize Obama is going to win
Too bad

Anonymous said...

if obumer wins we all lose

Anonymous said...

Romney'll stop ip infringement.

Anonymous said...

......./\....-.....

 
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