| T.R | Title | User | Personal
Name | Date | Lines |
|---|
| 393.1 | Will this hurt? | ICS::WALKER | | Fri Sep 21 1990 13:11 | 3 |
| Ooooh! A whole other way for the government to f**k us!
Briana
|
| 393.2 | | JJLIET::JUDY | Ladies with an attitude | Fri Sep 21 1990 13:17 | 5 |
|
Yeah, I heard about it. On the radio they talked to
one of the 'employees' and she thought it was quite
funny that they are now working for the gov't.
|
| 393.3 | love it! | TLE::D_CARROLL | Assume nothing | Fri Sep 21 1990 16:24 | 5 |
| Hysterical!
This made my day.
D!
|
| 393.4 | | GOLF::KINGR | Save the EARTH, we may need it later!!! | Sun Sep 23 1990 00:39 | 5 |
| I may be one of few but I think it is about time the that this has cum
about. This is something that has should have happened long time ago.
REK
|
| 393.5 | Warning! Pun alert! | CUPMK::SLOANE | It's boring being king of the jungle. | Mon Sep 24 1990 11:12 | 5 |
| So the Mustang Ranch has gone belly up, huh?
I guess now they have to stick it to the stockholders.
Bruce
|
| 393.6 | And another | CUPMK::SLOANE | It's boring being king of the jungle. | Mon Sep 24 1990 11:48 | 3 |
| It just shows that business is softening all over.
Bruce
|
| 393.7 | | HPSRAD::SUNDAR | Ganesh | Tue Sep 25 1990 17:34 | 12 |
| Well actually the Mustang Ranch had already filed for Chapter 11
a year or two back, the recent news items refers to a filing for
Chapter 7 which I believe amounts to going totally under. When I
heard the news I looked up this particular institution in the
"Visitors' Guide to Nevada's Brothels" that I'd picked up on
a recent trip to Reno (by the way, a most entertaining book that
I'd recommend without reservation). To give you some idea of the
scale of operations at the Mustang, no fewer than 100,000 "clients"
from all over the world visit the Mustang every year. Which makes
the bankruptcy filings sound a bit fishy.
Ganesh.
|
| 393.8 | | BOLT::MINOW | Cheap, fast, good; choose two | Tue Sep 25 1990 21:25 | 7 |
| re: .7:
100,000 clients per year translates to 12 per hour, every hour, every day.
If they weren't making money, at least their laundry service was doing ok.
Martin.
|
| 393.9 | this is better than elephant jokes! | COOKIE::CHEN | Madeline S. Chen, D&SG Marketing | Thu Sep 27 1990 20:21 | 8 |
| Gee, I wonder if their pricing was based on a cost-plus model, or on
a market driven model? If on cost-plus, then they were probably
overpriced, and losing market share. If market driven, being the
oldest, most traditional establishment around probably meant they
were losing money. Good thing we're in hi-tech and don't have those
problems.
-m
|
| 393.10 | | ULTRA::WITTENBERG | Secure Systems for Insecure People | Fri Sep 28 1990 10:56 | 52 |
| I received this yesterday, and thought it was the best description
I've seen.
--David
From: RANGER::TBAKER "Tom Baker 226-2125 - It's simple, but not easy" 24-SEP-1990 10:05:46.07
To: nac::_robins,nm%bruce,curless,smaug::ebert,egypt::resale,mastaj,sargent
CC:
Subj: IRS vs Mustang Ranch
From Barron's, Sept. 24, 1990 "Up and Down Wall Street"
By Alan Abelson. Copied without permission.
The one pure play on prostitution - and wouldn't you just know -
the government had to go mess with it.
Last week, everybody's friend, the IRS, seized Mustang Ranch, a
legal brothel in Nevada, and the only publicly owned firm in the
field. We admit there's something inherently logical about it -
the world's second oldest profession has now merged with the
world's oldest profession (collecting taxes).
Besides peremptorily wiping out a whole category of the stock
market, the IRS - which now stands for Interactive Recreational
Services - has placed in jeopardy a thriving business at a time
when the economy needs every bit of help it can get. Pragmatic
considerations aside, we view this dastardly act as a direct blow
against private enterprise, and we can't think of a more private
enterprise.
We can only hope that Mustang Ranch's employees, reportedly a
feisty bunch, will not take this lying down.
The IRS claims Mustang Ranch owes between $5 million and $13
million in unpaid taxes. Conceivably, the issue centers on how
much depreciation a brothel can take, tricky since brothels have
in common with brokerage houses the fact that most of their
assets go home every night. (We're aware that the two have at
least one other thing in common.)
In any case, it now seems certain that the Mustang Ranch will
wind up in bankruptcy, a prospect that saddens us. It just
doesn't seem right that a self-respecting outfit must share that
ignominious fate with feckless S&Ls and busted LBOs by the
dozen. That kind of association is enough to give brothels a
bad name.
(remainder omitted)
[*> This space for rent <*]
|
| 393.11 | | HPSRAD::SUNDAR | Ganesh | Fri Sep 28 1990 16:45 | 7 |
| If they do the same thing they did with RTC, the S&L bailout company,
i.e. make a grand announcement in the papers of Mustang junk bonds
to raise cash, I intend sending in my check right away. In a business
like this it's hard to lose forever.. even if you're the government.
Ganesh.
|