the profits

Princeton, KY

#580 Mar 23, 2012
egregious wrote:
Theres a reason no one is making money in textbooks anymore. Not sure why CAJ should be the exception. The world may not be flat, but something we've all been told since birth applies here: if it sounds to good to be true, it probably is.
What makes you think no one is making money in text books anymore?
Here's a quote from an article on a competitor of Chuck's. The quote is from a board member of Chegg and like CAJM, Chegg is a privately held company with millions of dollars from private investors.
"Chegg allows students to rent, buy and sell used textbooks and other school-related goods and services. It's a huge market, generating $11 billion in revenue and $3 billion in profit a year, according to Rick Bolander, a Gabriel co-founder and a member of the Chegg board. "If we can take just 5% of that market, we'll be very happy," he says."
Mainly I'm posting this for all the CAJM employees that have been following this thread and don't know what to believe. Well believe this, there are huge profits to be made in the college textbook industry. CBR and SEB are great companies to work for.
griffo

Herndon, VA

#581 Mar 23, 2012
the profits wrote:
<quoted text>What makes you think no one is making money in text books anymore?
Here's a quote from an article on a competitor of Chuck's. The quote is from a board member of Chegg and like CAJM, Chegg is a privately held company with millions of dollars from private investors.
"Chegg allows students to rent, buy and sell used textbooks and other school-related goods and services. It's a huge market, generating $11 billion in revenue and $3 billion in profit a year, according to Rick Bolander, a Gabriel co-founder and a member of the Chegg board. "If we can take just 5% of that market, we'll be very happy," he says."
Mainly I'm posting this for all the CAJM employees that have been following this thread and don't know what to believe. Well believe this, there are huge profits to be made in the college textbook industry. CBR and SEB are great companies to work for.
How can they be that good if they pay less than $13 an hour?
beenthere

Ft Mitchell, KY

#582 Mar 23, 2012
the profits wrote:
<quoted text>
"Chegg allows students to rent, buy and sell used textbooks and other school-related goods and services. It's a huge market, generating $11 billion in revenue and $3 billion in profit a year, according to Rick Bolander, a Gabriel co-founder and a member of the Chegg board. "If we can take just 5% of that market, we'll be very happy," he says."
CBR and SEB are great companies to work for.
No argument here, the market holds a lot of potential. But exactly which part of the $3 billion is the -$6 million CBR made? I'm just asking because I don't know how you make profit when your spending more to purchase your textbooks than you are to sell/rent them.
the profits

Princeton, KY

#583 Mar 23, 2012
Wages are a function of job skills and supply of workers. Some would think $13 is a great wage when compared to other job opportunities in Murray. Some would say it isn't enough. I would say always be training for your next step up in pay by being able to do a job that someone else can't.$13 an hour beats City of Murray starting pay, beats many of the MSU positions on campus, beats starting pay at MCCH for some positions. Entry wage as a bank teller is about $13/hr. It's about the starting wage in our area. Certainly there is no shortage of folks applying for those jobs either.

Now what makes a company good is being strong enough to pay fair wages and turn enough profit to be in business for a long time.
hound dog

Murray, KY

#584 Mar 23, 2012
Have you done your research? Yes, the market has a lot of potential. Many markets have potential. However, if you do any amount of searches about college textbook sales, you'll see most people are seeing a decline.

http://chronicle.com/article/As-Textbooks-Go-...

This is a lot like when CAJ bought a dial-up ISP after broadband started becoming commonplace. We all knew what was coming, but apparently somehow there was money still to be made in modem banks when everyone was moving from it to DSL and cable.

There may be short term gains to be made from people exiting the market and leaving opportunity, but it's still a shrinking market with a diminished future, and any huge investment at this point can almost be seen as throwing good money after bad.
really

United States

#585 Mar 23, 2012
the profits wrote:
<quoted text>
What makes you think no one is making money in text books anymore?
Here's a quote from an article on a competitor of Chuck's. The quote is from a board member of Chegg and like CAJM, Chegg is a privately held company with millions of dollars from private investors.
"Chegg allows students to rent, buy and sell used textbooks and other school-related goods and services. It's a huge market, generating $11 billion in revenue and $3 billion in profit a year, according to Rick Bolander, a Gabriel co-founder and a member of the Chegg board. "If we can take just 5% of that market, we'll be very happy," he says."
Mainly I'm posting this for all the CAJM employees that have been following this thread and don't know what to believe. Well believe this, there are huge profits to be made in the college textbook industry. CBR and SEB are great companies to work for.
So, how much profit is SEB and CBR making then. It doesnt matter what other companies are doing. there are computer companies that make it and some that dont. IS SEB AND CBR MAKING A PROFIT????
according to the legal submitted documents they are not.
ARE THE DOCUMENTS FALSE? IS CBR AND SEB MAKING A PROFIT? Say so and back it up so that we may know the truth.
really

United States

#586 Mar 23, 2012
Did CBR and SEB make money last year or did they lose 6 million with 5 million going to management? Did they have to go back to Griffin and borrow more money to operate?
really

United States

#587 Mar 23, 2012
Is there truth to the rumor that CAJ is hiring a management firm to manage his management firm. hum, that sounds kind of weird. Maybe they are getting lessons in management? Did Jim Sims have an outside management firm running SEB or was it all in house?
Am i misinformed about how this all is operating? Please inform me and the general public on why there is an outside management firm CAJ that according to the documents is the only entity making $$$$ does griffin get a cut of CAJ or is CAJ just siphoning off all the money? I would really like to wrap my head around all of this it seems so wasteful. Seems like way too much is going to management?
the profits

Princeton, KY

#588 Mar 23, 2012
Hound Dog-interesting article on bookstores. Yep, they are on the dinosaur list. The reason bookstores are in decline is the internet buying and renting. Research is easy if you look at enrollment of college students in US, all time high. Those students need books, yep some are turning to ebooks but not nearly as predicted. College textbooks are still in demand and will be for the next 5 to 10 years. Yes, relatively short window, huge profits. But in those 5 to 10 years these companies (SEB/CBR) will change to remain profitable. After all thats what CBR is, a change to the business model that SEB was using. Instead of selling books they rent the books. The only way to kill the need for a method to learn (books) is to eliminate the university education model. Anyone predicting that? Heck no.
former SEB employee

Ft Mitchell, KY

#589 Mar 23, 2012
really wrote:
Is there truth to the rumor that CAJ is hiring a management firm to manage his management firm. hum, that sounds kind of weird. Maybe they are getting lessons in management? Did Jim Sims have an outside management firm running SEB or was it all in house?
Am i misinformed about how this all is operating? Please inform me and the general public on why there is an outside management firm CAJ that according to the documents is the only entity making $$$$ does griffin get a cut of CAJ or is CAJ just siphoning off all the money? I would really like to wrap my head around all of this it seems so wasteful. Seems like way too much is going to management?
Jim Sims did not use outside management. Unless you count allowing his head IT guy to call all the shots. Of course, that only led to layoffs of staff and the quitting of sales people and managers and shrinking inventory. Hmmm. That guy works for chuck now. Wonder if that is a coincidence.
question for profit

United States

#590 Mar 23, 2012
the profits wrote:
Hound Dog-interesting article on bookstores. Yep, they are on the dinosaur list. The reason bookstores are in decline is the internet buying and renting. Research is easy if you look at enrollment of college students in US, all time high. Those students need books, yep some are turning to ebooks but not nearly as predicted. College textbooks are still in demand and will be for the next 5 to 10 years. Yes, relatively short window, huge profits. But in those 5 to 10 years these companies (SEB/CBR) will change to remain profitable. After all thats what CBR is, a change to the business model that SEB was using. Instead of selling books they rent the books. The only way to kill the need for a method to learn (books) is to eliminate the university education model. Anyone predicting that? Heck no.
So they are not profitable now and have not been for 3 years and all the hype is that they will be profitable in the future? So why take the millions out now? Why not play it smart and take the millions in profits out when the companies are actually making money. Couldn't that extra money have been reinvested in the company instead of just going to griffin to borrow more? I mean why 7 million dollar estate now? why not after it makes money instead of losing? Just thinking out loud of course!
hound dog

Murray, KY

#591 Mar 23, 2012
the profits wrote:
Hound Dog-interesting article on bookstores. Yep, they are on the dinosaur list. The reason bookstores are in decline is the internet buying and renting. Research is easy if you look at enrollment of college students in US, all time high. Those students need books, yep some are turning to ebooks but not nearly as predicted. College textbooks are still in demand and will be for the next 5 to 10 years. Yes, relatively short window, huge profits. But in those 5 to 10 years these companies (SEB/CBR) will change to remain profitable. After all thats what CBR is, a change to the business model that SEB was using. Instead of selling books they rent the books. The only way to kill the need for a method to learn (books) is to eliminate the university education model. Anyone predicting that? Heck no.
I would agree, except that I'm on the other side of the financial risk argument. It's hard to say what the future market will hold for sure, but one thing's for certain: when you enter an online market, your competition is enormous, and there are far more savvy and established businesses than CBR/SEB. Plus, I can think of a few ways that companies like Amazon could score huge business simply by contracting deals with universities to exclusively provide e-book distribution for all the students at a fraction of what it would cost a student normally.

Plus, I think part of the whole dial-up internet service deal was that rural customers wouldn't be able to get broadband. There are a lot of operating costs (look at CBR running in the red) that simply can't be recouped. For my money, that's a lot of risk in a market that's rapidly changing, and a lot of infrastructure and operating costs that could simply overwhelm the profit margin. And with the volatility, who can accurately predict if you'll get any ROI on it?

Just seems like a lot of gambling with money that's not his. That's all I'm trying to say.
the profits

Princeton, KY

#592 Mar 23, 2012
CAJM is profitable, how much don't know. I don't work there and figure there are only a few people that get to see the actual numbers. There are probably some banks in the area that see the numbers and their not going to share either. CAJM is a privately held company and unless Chuck wants to tell you how much he makes it ain't gonna happen. So how do I know their profitable... Chuck told me. Ha!

As for management firm hired to manage his management firm... I have no idea what your talking about.

I suspect Chuck uses different experts in different area like tax law, or such for advice if that is what you mean. Many companies use consultants for a wide range of expertise.

Don't trust the numbers from one side of a civil complaint. could be they are in error. "Bigger Picture's" post earlier today is closest I've seen to what I think actual truth is.
Cha Ching

Murray, KY

#593 Mar 23, 2012
This has gotten hilarious. So many business experts. Murray KY business analysts unite. You guys need to go GLOBAL. Fix the planet.
fix the planet

United States

#594 Mar 23, 2012
Cha Ching wrote:
This has gotten hilarious. So many business experts. Murray KY business analysts unite. You guys need to go GLOBAL. Fix the planet.
I believe you would be surprised at some of the minds participating in the conversation, and might be underestimating the citizens concerned. There are many of us that have done or do well, have four year college degrees or higher, and have been around both unsuccessful and successful business people. Frankly, that is why i am inquisitive, because the CAJ goes against everything I've seen work in the past. Things like being frugal, ethical behavior, and humility seem to have triumphed in the past over what i see going on today. The Gordon Gecko types usually fade out fast.
hound dog

Murray, KY

#595 Mar 23, 2012
Cha Ching wrote:
This has gotten hilarious. So many business experts. Murray KY business analysts unite. You guys need to go GLOBAL. Fix the planet.
Yes, believe it or not we're not all as stupid and ignorant as you. I know that's hard to swallow. Wash it down with a shot of whiskey. It'll help numb the pain in your head from your brain cells committing suicide out of pity for you.
CAJ + DG 4 Ever

United States

#596 Mar 23, 2012
former SEB employee wrote:
<quoted text>Jim Sims did not use outside management. Unless you count allowing his head IT guy to call all the shots. Of course, that only led to layoffs of staff and the quitting of sales people and managers and shrinking inventory. Hmmm. That guy works for chuck now. Wonder if that is a coincidence.
Lol! Please tell me you aren't talking about that massive tool, Earl! In a lot of ways he is worse than Chuckles. Dumbest sack of rocks in town, IMHO. Yes, I used to work for him so I feel Very qualified to say so. And, no, he didn't fire me. In fact, he cried like a baby when I left.
fix the planet

United States

#597 Mar 23, 2012
the profits wrote:
CAJM is profitable, how much don't know. I don't work there and figure there are only a few people that get to see the actual numbers. There are probably some banks in the area that see the numbers and their not going to share either. CAJM is a privately held company and unless Chuck wants to tell you how much he makes it ain't gonna happen. So how do I know their profitable... Chuck told me. Ha!
As for management firm hired to manage his management firm... I have no idea what your talking about.
I suspect Chuck uses different experts in different area like tax law, or such for advice if that is what you mean. Many companies use consultants for a wide range of expertise.
Don't trust the numbers from one side of a civil complaint. could be they are in error. "Bigger Picture's" post earlier today is closest I've seen to what I think actual truth is.
That's funny, you know they are profitable because Chuck told you. From what I've heard he tells everyone he has a Jet Plane also....
of course he will say they are profitable, so why doesn't he file a response quickly to the allegations with documents showing they are profitable? If i was in the right and I was profitable id want to prove it to the world. Especially considering the allegations. I am anxiously awaiting his response. I hope i am proven wrong, it will go a long way to restoring my faith in people of position. But, i have seen time and time again the absence of humility and ethics leads to a persons downfall.
Bud Whit

United States

#598 Mar 23, 2012
Chuckles is planting $50,000 worth of trees in front of his new house this week. Something tells me he is not worried about this lawsuit. You guys that are hoping to see his downfall might as well move along.
Just me

Dubuque, IA

#599 Mar 23, 2012
Why keep this going on maybe chuck needs to find a marketing team that will turn thing around quick. Chuck has tons of options if you wishes to use them. Chuck must be a smart man or he wouldn't be where he is today. So I fully think he will turn this around an be on top of things again.

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