Newsgroups: rec.arts.comics.misc From: [an 171760] at [anon.penet.fi] Date: Tue, 16 May 1995 13:14:02 UTC Subject: Re:The Terrible =?iso-8859-1?Q?Tekno=2AComi=8A?= >[an 171760] at [anon.penet.fi] wrote: >>Sorry to post this anonymously, but I work for Tekno and hope to keep >>my position just long enough to find another. >I'll just presume for the sake of following up that the author is who >s/he claims s/he is (a Tekno employee) and that this isn't just an >elaborate troll. Alas, I wish it were. With a CEO who has frequent temper tantrums, an attrition rate approaching warp drive, and Tekno's few experienced comic industry superstars shaking their heads in bewilderment--the message is clear. For the voyeuristic among you (and who isn't?), thought I would relate a few pieces of overtly soiled linen: 1) Corporate Director of Operations left 3 months ago because CEO THREW a book at her head! 2) During interviews, CEO and President state categorically that comics are just an entrance into the entertainment industry. Could care less about the books!! Hell, they were doing licensing deals even before there were characters!! 3) Publishing has a burn rate that is astronomical. The numbers for retail are somewhat more guarded, but there are hundreds of thousands of back issues plastered all over 2 warehouses. The Product Manager/Buyer loves to spend other peoples money. 4) Recent Internal Audit by Arther Anderson went down to the wire. The Controller was in isolation for a few months. >>Tekno has left a trail of red ink in recent months, with major >>suppliers holding massive unpaid debts. The company is currently >>bolstered only by its marginally profitable retail kiosks. Yes, >>although not highly publicized, Tekno stabs its direct market partners >>in the back by also operating 8 retail locations. > >They actually *did* build the kiosks! Ah! The original prospectus >which was published in part in a Comics Journal article mentioned that >Tekno had these plans but I never heard anyhting else about them. >Where are they I wonder? Are they in malls? Fascinating. When a Tekno >rep first appeared in rac promoting the books I asked about these >things but that person didn't want to talk about them (I got a >semi-nasty email, maybe I deserved it ;) ) Oh well, I don't think a >lot of retailers were putting a lot of trust in Tekno in the first >place were they? Didn't want to burden the group with a binary, but I have a high quality scanned picture of one of our kiosks. E-mail me, I'll send it. Or if the group wants it posted I'll be happy to do so. It is very attractive, but the breakeven on these babies would challenge Methuselah!! Average monthly revenue is only about $16K, only a handful of people know the cost structure. The locations are as follows: Malls of America, Minnesota Roseville? Mall, Minnesota Tyrone Square Mall, St. Petersberg, Florida Orlando Mall?, Orlando Altamont Springs Mall, Orlando Sawgrass Outlet Mall, Ft. Lauderdale, Florida Miami Intl. Mall, Miami, Florida Virginia Beach Mall (name escapes me), Norfolk, Virginia >>While appearing to support its "creators" Tekno has recently been >>abandoned by Majel Roddenberry, due to non-payment of appearance fees. > >They didn't pay Majel Roddenberry? Tacky... Actually, I am not 100% certain of the reason she has ceased relations, but since no other vendors receive timely payment this was my best guess. However, she has definitely had a MAJOR falling out with our head folks. Very certain that Nimoy will not do any more appearances either. >>Mickey Spillane is also on the brink of severing any >>relationship with Tekno beyond his contractual minimums. > >Well they got what they wanted from him right? Two appearances on >Entertainment Tonight and his name in the indicia, that's all they >wanted to pay for isn't it? Mickey is a great guy, who loves the spotlight. He is more accepting of Tekno's bullshit than others. >>Of course, >>none of the Tekno "celebrity authors" have ever had any real creative >>input. Smoke and mirrors are the norm at Tekno. > >This we had already gathered. Yes, I have followed the postings in racm for some time. I should have listened more carefully before making the worst strategic move of my career. >> With very poor solicited demand for Mike Danger (only >>45,000 issues), and Lost Universe about to become spun off into an even >>more confusing book, things look bleak. The founders are scratching >>for any attempt to dump the company, having successfully sold the >>Sci-Fi Channel while it too had massive debts. >The good news of course is that their books have been remarkably easy >to come by so far in the quarter bins (at least around these parts). I >wasn't under the impression that they were doing so horribly though. >Matt High's most recent Cap City numbers indicate that they occupy the >number eight spot overall for the month of May: > >Tekno Comix .20 1.14 .95 1.16 .88 1.29 > >This puts them behind only the big six and Wizard. I, of course, have >no idea what their operating cost are so I can't tell you from just >this number how that would reflect on their overall financial >situation. Over $400k spent on convention booth alone. Smoke machine, virtual reality, fancy light attachments, video wall, massive giveaways, robotic hands, Hollywood designed characters, fancy dinners sponsored, AT&T, AMEX and Office Depot closing accounts....... Oh yes, the CEO and President (who are married) each received $40K bonuses last year. This from a company that LOST $6.2 million!!!! Also, their contracts pay each a $650 monthly car allowance, and they own the company that leases VERY overpriced office space to Big Entertainment, the parent comapny of Tekno Comix. >>The company has made failed attempts at additional funding, with Bear >>Stearns unwilling to proceed on an essential Private Placement. The >>Controller fields over 50 requests per day from vendors, and 13 of 14 >>of Tekno's bank accounts are barren. >Well if this is true they're doomed, or at the very least headed >towards a major restructuring. This time last year I predicted that >they wouldn't make it to 1996, maybe I'm a tremendous economic >prognosticator and just don't realize it, but I do think they'll stay >around for a little longer (though not too long) The group has been right on the money with projections, critiques etc. Tekno is not a major player, and as the industry re-structures and consolidates they will not be missed by many. What do you say to a bunch of wealthy, petulant children who only wanted to incorporate the worst features of Marvel, without having at least paid the dues of the Lee/Kirby Silver Age??? >>Not sure why I posted this. I have much more to tell, but this seems >>vaguely like I may be wasting bandwidth. If so, I apologize. Guess I >>hope the company does fold, and unsuspecting comic book fans will be >>spared a few bucks to spend on less "Witch Oil" type products. >Definitely not a waste a bandwidth imo, I'd listen to anything you >feel you can comfortably reveal to us (maybe I'm just nosy :) ). As to >the witch oil products, well I was never under the impression that the >creators whose names were above thet titles were doing any of the work >so I don't feel taken in the least. I bought three issues of _Mr Hero_ >because I think Vance is a fine writer (Kings in Disguise) and >Slampyak a fine artist (Jazz Age Chronicles). I dropped it because I >realized that I could find much better examples of their work in my >own collection. I would have bought the Veitch and Talbot stuff, but >it just seemed so uninspired when I read it in the store that I >couldn't be bothered to spend the money. So far I don't see that the >company has produced anything really good since the frisbee. > >Good luck finding another job, and thanks for posting this. > >bart >anxiously awaiting the response of one of Tekno's official >spokespersons :) Bart, the "official spokesperson" spends every day wondering if he will have a job, and waiting to find out what crack-brained scheme the CEO wants him to follow. Not even sure they read this spot any more. After all, they do not want to know what people who have supported the "real" industry for years think. It might take time away from their weak PR attempts to convince the public that movie deals are imminent!!!! HA!!!!HA!!!!HA!!!!HA!!!! ---------------------------------------------------------------------------- To find out more about the anon service, send mail to [h--p] at [anon.penet.fi.] If you reply to this message, your message WILL be *automatically* anonymized and you are allocated an anon id. Read the help file to prevent this. 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