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CardSpike & CAP - The Implosion!

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by on 01-31-2009 at 06:37 AM (611 Views)
I'm stunned and amazed by the fiasco that has unfolded over the last few months. Who would have thought a business as large and well established as CAP could self destruct in such a quick and dramatic fashion?

Threats, mass bannings and a scandal all within the span of several weeks are a sure fire way to get the job done. What could easily have been avoided by providing transparency and honesty has mushroomed into a full out assault on the owners of this once mighty forum.

With GPWA and APCW digging up the dirt, CAP was in a heap of trouble. But, instead of coming clean and going into "damage control" mode, Lou went on the offensive by banning everyone who opposed or questioned him and threatening lawsuits left and right. Instead of paying the players and affiliates who were owed money from CardSpike, he banned them from PAP and CAP.

You would think that the lessons learned from the AP/UB scandal (where management did everything wrong) would give Lou a clue about how to avoid going down the same road. I guess not!

Putting the last nail in the coffin!
To order security to physically remove Steven Corfman from the hotel lobby and then challenge J Todd to a fist fight is beyond ludicrous. Lou has made himself the laughing stock of the industry. His credibility is completely shot.

Warren Jolly has no choice now but to distance himself and CAP from this man. Naming Dominique "Administrator" of CAP is a smart move and hopefully, the first of many. Warren has apparently issued passes to Michael and his staff so they can now attend the CAP conference without fear of reprisal, another smart move that shows he is indeed distancing himself from his partner.

But, Warren needs to do much more. If he has any plans to salvage CAP/PAP, Warren must come clean about CardSpike and make sure all affiliates and players are paid.

Can Warren save CAP? I'm doubtful but time will tell.

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Comments

  1. Jeremy's Avatar
    Great post man. I think Lou would have been better off staying home. His outburst at the event is very unfortunate and is not going to help him. Quite frankly I think Lou is in a shitty spot because unfortunately he is the front man and the fall guy for the whole situation.

    Granted, he is in the wrong in so many ways. I just think it's comical that Corfman is now thanking Warren and Alex, and somehow Lou is probably going to get 110% of the AMI problems and transparency issues laid on him.

    Being the name and face of the business in the public is a bitch sometimes. Great post though man.
  2. Steve's Avatar
    Excellent post Keep,

    I also wonder if Warren can save CAP from going under. They have bruised many good relationships with affiliates which I don't think are repairable. In my experience, affiliates may forgive but never forget.

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