An Experiment Against Getty

[Couch_Potato]

Something that may be of interest.

I have some data on Getty UK's accounts filed in 2009 and 2010.

In 2009 they listed their trade debtors assets as £72,000.

In 2010 their accounts showed trade debtors as £69,185,000, a small increase of 95990%

Of course it may be something unrelated such as a change in policy that means charges aren't paid up front but it seems a drastic swing in just 12 months.

Just for the record. This information is freely available in their accounts which in the UK are open to the public.

Something else that may be of interest is this:

http://www.moodys.com/research/Moodys-downgrades-Gettys-CFR-to-B2-from-Ba3-assigns-B1--PR_256183

Probably couldn't afford to sue anyone even if it was their policy :p

[Robert Krausankas (BuddhaPi)]

don't forget Getty Images recently purchased Picscout for a large sum...could this be part of these numbers below?

Something that may be of interest.

I have some data on Getty UK's accounts filed in 2009 and 2010.

In 2009 they listed their trade debtors assets as £72,000.

In 2010 their accounts showed trade debtors as £69,185,000, a small increase of 95990%

Of course it may be something unrelated such as a change in policy that means charges aren't paid up front but it seems a drastic swing in just 12 months.

Just for the record. This information is freely available in their accounts which in the UK are open to the public.

Something else that may be of interest is this:

http://www.moodys.com/research/Moodys-downgrades-Gettys-CFR-to-B2-from-Ba3-assigns-B1--PR_256183

Probably couldn't afford to sue anyone even if it was their policy :p

[Couch_Potato]

Getty's purchase of Picscout was 2011 and was for a reported $20 million.

Trade Debtors are amounts owed by customers who have purchased something which wouldn't relate to picscout.

As I said, it could be a restructure of the way they released images, but to be owed that much at year end is strange. Doubt we'll ever know for sure though.

[Robert Krausankas (BuddhaPi)]

Thanks for the clarification!  Perhaps that amount reflects the number of extortion letters that are being ignored! 

Getty's purchase of Picscout was 2011 and was for a reported $20 million.

Trade Debtors are amounts owed by customers who have purchased something which wouldn't relate to picscout.

As I said, it could be a restructure of the way they released images, but to be owed that much at year end is strange. Doubt we'll ever know for sure though.

[Greg Troy (KeepFighting)]

I appreciate the information couch patato, I breifly scanned it and it looks interesting.  I will read it in detail when I get home this evening.  Thanks again!

[Couch_Potato]

If you want more information let me know and I'll message where you can get it.

It's not really a secret and as I said, this information is freely available but I'd rather Getty didn't know where I sourced it.

[Couch_Potato]

Thanks for the clarification!  Perhaps that amount reflects the number of extortion letters that are being ignored! 

Getty's purchase of Picscout was 2011 and was for a reported $20 million.

Trade Debtors are amounts owed by customers who have purchased something which wouldn't relate to picscout.

As I said, it could be a restructure of the way they released images, but to be owed that much at year end is strange. Doubt we'll ever know for sure though.

I think the interest is if these figures do indeed relate to any extortion letters then these would indeed by treated as a debt, which makes any of the companies chasing on behalf of Getty liars when they say it isn't a debt.

Of course this is speculation, and the figures could be related to something else, but perhaps a letter recipient in the UK could fairly ask the question about how Getty views the amount being requested and as the letter also provides an invoice, whether this is listed on their accounts as a debt.

[stinger]

Greg:  My fear is that all this work you have done to prepare for the "War to end all wars" with Getty will be for naught, because they probably don't have the stones to push you any further.

What I hope is, if they push hard on anyone here on this forum, that you might take what you have learned to guide that person in taking the fight to Getty.

This war isn't over when one of us win.  It is over when the trolls start trolling and get back to the business they are supposed to be in, rather than using the law as a business plan to go after the small fish.

[Greg Troy (KeepFighting)]

Yes, please do. You can send it to me through the ELI message system or email me directly at [email protected]. Thanks!

If you want more information let me know and I'll message where you can get it.

It's not really a secret and as I said, this information is freely available but I'd rather Getty didn't know where I sourced it.

[Greg Troy (KeepFighting)]

Stinger, you can rest assured that I am not going anywhere in that I plan to be here fighting and assisting others as long as ELI is needed. This is also the reason why I have been so open with my experiment so that others may join in the fight and can view and use my letters as a template for theirs.

Just because I have now placed the ball back in Getty's court does not mean I am here sitting on my hands. While I feel that my current packet is greatly improved over the information I had included with my previous complaint letters I am still continuously reading and researching through the net, court cases and rulings for items that are relevant and bolster ELI's side as well as things that will show a long history of questionable business practices by this company.

As a matter fact just last night I found a very interesting article from back in 2007 when Getty was a public company where to shareholders filed lawsuits against Jonathan Klein as well as other top Getty executives were accused of backdating stock options so that they could rake in huge personal profits. I would like to preface this by saying I have not had a chance as of yet to read the suits or find out what their outcomes were so I do not know as of yet but one of the stockholders bringing the suit says that 21 out of 25 of the discretionary grants just happened to coincide with his story close in the stock price making the redemption of the stock options extremely profitable for the executives. A link to the article may be found here:

http://seattletimes.com/html/businesstechnology/2003610937_getty10.html

So again rest assured that I am not going anywhere and I will be here and continue to help everyone I can.

<----Edit---->

I just got done going over the information in the article above and found that to stockholder lawsuits were result. I have uploaded the complaints from PACER to my Scribd account and will make them available here. From what I can see the parties agreed to settle in Getty paid the plaintiffs legal fees which in one case was $900,000 but it appears that the settlement was caused by the merger of Getty resulting in Getty no longer being a publicly held company. It looks as if at least in the Edwards case that he was trying to say that Getty was doing this to kill the cases. I have scanned the complaints and the order and found them very interesting and wanted to share them with the rest of you.

This is the kind of information whether it be recent or old I am looking for an if anyone has more information, articles, court cases or rulings about Getty or a relevant to the Getty/troll issues please share them.

Edmonds v Getty complaint:
http://www.scribd.com/doc/109044444/Edmonds-v-Getty-Shareholder-Complaint

Edmonds v Getty stipulation:
http://www.scribd.com/doc/109044445/Edmonds-v-Getty-Stipulation

Edmonds v Getty order:
http://www.scribd.com/doc/109044443/Edmonds-v-Getty-Order

Lopez v Getty lawsuit:
http://www.scribd.com/doc/109044451/Lopez-v-Getty-Stockholder-Lawsuit

Greg:  My fear is that all this work you have done to prepare for the "War to end all wars" with Getty will be for naught, because they probably don't have the stones to push you any further.

What I hope is, if they push hard on anyone here on this forum, that you might take what you have learned to guide that person in taking the fight to Getty.

This war isn't over when one of us win.  It is over when the trolls start trolling and get back to the business they are supposed to be in, rather than using the law as a business plan to go after the small fish.

[gtilflm]

Greg, the vigor with which you're pursuing this is commendable.  Bravo!

[Greg Troy (KeepFighting)]

Thank you gtilflm and peeved, I appreciate the kind words.

Be sure to go back and look at my previous post as I have edited it in added court documents that I found pertaining to the lawsuits mentioned in that 2007 article.

[Robert Krausankas (BuddhaPi)]

I hang my head in shame...That is all...carry on.

[Greg Troy (KeepFighting)]

Never! ......Teamwork!

I hang my head in shame...That is all...carry on.

[Greg Troy (KeepFighting)]

Got the link, thanks!

Yes, please do. You can send it to me through the ELI message system or email me directly at [email protected]. Thanks!

If you want more information let me know and I'll message where you can get it.

It's not really a secret and as I said, this information is freely available but I'd rather Getty didn't know where I sourced it.