Playboy Enterprises: Worthless, Part 4

4. PLA management is worthless.

So back in the roaring '60s, Hugh turned his jack mag into quite the brand. And when he took it public in 1971, dudes were waiting in line to have a share of the "Bunny." Hef pocketed millions.

Then the company came to him again in the early 90s. Now, the price of cash was his daughter Christie. Make her the CEO of my fabulous franchise.

And lo and behold, decades later, his daughter has basically run the company into the ground. Want some examples????

--Christie was behind the wheel when the company made its ludicrous purchase of Club Jenna for over $20MM. That purchase has produced no measurable results to the company's bottom line.

-- CH orchestrated the purchase of Spice TV and several other cable porn companies, hoping they would justify the revenue. Guess what, they didn't. Spice died as other cable porn outlets came online, and PLA's cable TV franchise is so tenuous that a single broadcast company can cancel their distributorship unilaterally, and PLA can't do a fucking thing about it.

So for all this incompetence, guess what Hef's daughter got in return for being fired from the company:

--$2MM in cash, lump sum
--30,000 Shares of PLA stock, class B
--$22M in vacation pay
--Payment in full on her Diner's Club Card.
--All "personal costs" to be reimbursed

All this skank had to do was:

1. Don't badmouth the company
2. Don't compete against the company for two years
3. Make "intellectual use" of Playboy.

Yeah, right. Hugh fired his daughter, then set her up for life.

Read the shit here: http://www.sec.gov/Archives/edgar/data/1072341/000116923209001548/d76389_ex1027-d.txt

Fuck this whore and phuck Playboy!!!!