Response - Maxim / Sun Village

[Robert]

Below is an attachment of a PDF letter I received from Derek Elliott It's addresses to those that have an interest in what's going on with the Elliott Group.

[DavidZ]

wow...........

[abe]

If anyone is inclined to feel sorry for the Elliotts, I can only remind you of the old adage: "You lie down with dogs, you get up with fleas." or something like that.

In the same way that the Elliotts would say to an "owner" suffering buyers' remorse : "You agreed to the deal." they are now complaining about exorbitant commissions paid to their vaunted agents , etc. etc.

It's hysterical that the scammers got scammed and are now griping about it.

Hysterical--well except for the victims.

[Conchman]

According to that newsletter, everybody BUT the owners/exec.mgnt of Elliott/SV/MB are to blame. Interesting!

[abe]

Conchman is exactly right--furthermore, it's very interesting that there has been so little response to this on this board. My guess is that those who have given these sharks money are still in shock at this "defense/explanation" of what went wrong. Oh, well--these poor people really fell for the glitz/glamour approach that made all "investors" out to be Hollywood mogul types. Invitations to Film Festivals, the spurious link with Maxim magazine (always a Bible for real estate investors (ha,ha), etc. Truly a classic example of building phony dreams.

[planner]

Unbelievable! Talk about shifting or trying to shift the blame. Derek Elliot is ultimately responsible for the decisions made. It was all about greed! And I am sure it still is! He agreed to the 20% commissions up front. He always knew about them. Why is he now whining? And he claims Catledge made millions in commissions - well do the math - how many millions then did Elliott and company receive? How much of that was used as intended and how much was wasted?

I think you can look and see that mismanagement and greed caused most of their problems.

[kashbarker]

Originally Posted by planner

Unbelievable! Talk about shifting or trying to shift the blame. Derek Elliot is ultimately responsible for the decisions made. It was all about greed! And I am sure it still is! He agreed to the 20% commissions up front. He always knew about them. Why is he now whining? And he claims Catledge made millions in commissions - well do the math - how many millions then did Elliott and company receive? How much of that was used as intended and how much was wasted?

I think you can look and see that mismanagement and greed caused most of their problems.

Your so very correct " mismanagement and greed" caused the problems. My questions is, Now What??? It's either work with the Elliott's on solutions or go to battle with the Elliott's. As far as Catledge is concerned, It sounds like he talked the Elliott's into a situation in which they became too dependant on Impact sales, and when things slowed down, that was the start of big problems. I'm hopeful that things will work out if all involved will be honest and work together, but if not we will all loose. Any ideas you or others have on SOLUTIONS, please present them. Thanks..

[freeair]

ouch..i feel so sorry about this..

[planner]

Elliott made the decision to "put all their eggs in one basket: with Catledge. He had a sales force on the ground that worked - not perfectly - but it worked. He got greedy and entered into the sole agreement with Catledge.

Catledge didn't have to "talk" him into it. He knows the score!

[kashbarker]

Originally Posted by planner

Elliott made the decision to "put all their eggs in one basket: with Catledge. He had a sales force on the ground that worked - not perfectly - but it worked. He got greedy and entered into the sole agreement with Catledge.

Catledge didn't have to "talk" him into it. He knows the score!

You are correct. What I would like at this point is ideas on how to correct the problems. Elliott's say that they are open to ideas on how to best correct the mistakes, so I'm asking everyone to help with ideas. Thanks...