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  • -hanko
    CGN/CGSSA Contributor
    CGN Contributor
    • Jul 2002
    • 14174

    Originally posted by Kate
    Finally an actual business model that makes sense...
    Please explain how that makes sense and can happen.

    You might also explain why Piazza is not again shoveling you-know-what.
    True wealth is time. Time to enjoy life.

    Life's journey is not to arrive safely in a well preserved body, but rather to slide in sideways, totally worn out, shouting "holy schit...what a ride"!!

    Heaven goes by favor. If it went by merit, you would stay out and your dog would go in. Mark Twain

    A man's soul can be judged by the way he treats his dog. Charles Doran

    Comment

    • AR15fan
      CGN/CGSSA Contributor
      • Nov 2008
      • 628

      Everything you are asking is subject to the approval or disapproval of any reorganization plan as presented to the bankruptcy court. Nothing is known this early. And everything can be wiped out as the result of negotiations with creditors and other stakeholders.

      Comment

      • Paseclipse
        CGN/CGSSA Contributor
        • Jul 2011
        • 1246

        Link about the reorganization if it hasn't been posted yet- https://www.frontsight.com/reorganization/

        To skip all the fluff and drama scroll down to where it says "Here's WHY:"

        IDK, I can't say I like the $100 per day per student fee. I liked to occasionally go to Skill Builders to brush back up on everything and at $200 I can't see that happening now for the lower courses.

        $100 per day is reasonable compared to other places, but when you factor in gas, food, lodging and travel time, it's cheaper to just go to a local trainer. Not to mention the yearly background check fee of $50.

        Honestly, a yearly membership fee of say a few hundred dollars wouldn't bother me that much. After a few courses it would make up for it. And I agree with some other people in this post... I REALLY wish Iggy would just drop the whole resort nonsense and keep it the way it is. More overhead costs will just bury the place even deeper.

        It's just too bad this has all come down the tube. I had a lot of fun going there, met some good friend's and I will have lifelong fond memories at that place. Hopefully they can keep the place going.
        Last edited by Paseclipse; 05-24-2022, 9:12 PM.

        Comment

        • damon1272
          Veteran Member
          • Aug 2006
          • 4857

          I see it going away after a bit. Bankruptcy spells bad management. You are right when you add up all the expense it is cheaper to train at home.
          Too bad as I really enjoyed it.

          Comment

          • -hanko
            CGN/CGSSA Contributor
            CGN Contributor
            • Jul 2002
            • 14174

            Originally posted by Paseclipse
            It's just too bad this has all come down the tube. I had a lot of fun going there, met some good friend's and I will have lifelong fond memories at that place. Hopefully they can keep the place going.
            Why would you think that Piazza is not lying now ???...He's lied since he started FS in socal
            Last edited by -hanko; 05-25-2022, 12:12 AM.
            True wealth is time. Time to enjoy life.

            Life's journey is not to arrive safely in a well preserved body, but rather to slide in sideways, totally worn out, shouting "holy schit...what a ride"!!

            Heaven goes by favor. If it went by merit, you would stay out and your dog would go in. Mark Twain

            A man's soul can be judged by the way he treats his dog. Charles Doran

            Comment

            • NorthBay Shooter
              Senior Member
              • Apr 2015
              • 679

              While the chapter 11 is a smart business move (based on where the organization is now), it is really just a way for him to buy time while looking for a buyer. This is the beginning of the end. I will never attend another class there at 100/day.

              Comment

              • missiondude
                Senior Member
                • May 2008
                • 1646

                I just canceled a class that was split between the end of May and beginning of June. Not going to get there and find that they want the $100 a day for half a class, or spend all the money to get there and find the place locked. Eff Iggy, I am done.
                sigpicThe right of the people to keep and bear arms shall not be infringed. The original common sense gun law...

                Comment

                • Vinnie Boombatz
                  Veteran Member
                  • Feb 2020
                  • 3036

                  Originally posted by missiondude
                  I just canceled a class that was split between the end of May and beginning of June. Not going to get there and find that they want the $100 a day for half a class, or spend all the money to get there and find the place locked. Eff Iggy, I am done.
                  I have a few classes booked for later this fall and found out that you can’t use Front Sight Bucks for any portion of the the daily class fees. Part of me doesn’t mind paying the fee, but another part of me worries about paying for a class that’s so far off in the future with the tumultuous state of affairs surrounding the place, especially in the latest emails where Piazza is still on a mission to create the “resort”.

                  I’m just going to wait and see how things evolve and pan out over the next 6 months or so before committing to paying those fees, spending money on gas and lodging, etc.
                  Last edited by Vinnie Boombatz; 05-26-2022, 11:43 AM.
                  sigpic

                  Comment

                  • Citizen_B
                    Senior Member
                    • Mar 2014
                    • 1429

                    I'm still unsure legally how he can just declare bankruptcy, reset membership obligations, and start fresh with new terms like nothing happened.

                    If he does escape the legal hurdles, I strongly suspect he runs the same game all over again. More crazy promises, selling "assets" to raise cash, then over time diluting said "assets".

                    Comment

                    • beanz2
                      I need a LIFE!!
                      • Nov 2008
                      • 12032

                      sigpic
                      The wife will be pissed, but Jesus always forgives.

                      Comment

                      • hermosabeach
                        I need a LIFE!!
                        • Feb 2009
                        • 19132

                        This thread probably makes people on the hate list to be cancelled


                        The Chapter 11 Reorganization allows Front Sight the opportunity to terminate the memberships of those in the organization who have in any way disparaged Front Sight, its management and staff, or aligned with the enemies of Front Sight.
                        Last edited by hermosabeach; 05-26-2022, 12:36 PM.
                        Rule 1- ALL GUNS ARE ALWAYS LOADED

                        Rule 2 -NEVER LET THE MUZZLE COVER ANYTHING YOU ARE NOT PREPARED TO DESTROY (including your hands and legs)

                        Rule 3 -KEEP YOUR FINGER OFF THE TRIGGER UNTIL YOUR SIGHTS ARE ON THE TARGET

                        Rule 4 -BE SURE OF YOUR TARGET AND WHAT IS BEYOND IT
                        (thanks to Jeff Cooper)

                        Comment

                        • Vinnie Boombatz
                          Veteran Member
                          • Feb 2020
                          • 3036

                          Originally posted by hermosabeach
                          This thread probably makes people on the hate list to be cancelled


                          The Chapter 11 Reorganization allows Front Sight the opportunity to terminate the memberships of those in the organization who have in any way disparaged Front Sight, its management and staff, or aligned with the enemies of Front Sight.
                          sigpic

                          Comment

                          • LV_G22
                            Member
                            • Mar 2017
                            • 164

                            Just finished 2-day Advanced Tactical Handgun today.

                            36 students on our range, 38 next range.

                            Great class, great instructors.....

                            It did get a bit hot

                            Chapter 11 bankruptcy (re-organization) is a process that must work it's way through the court system, with approval by the court for all significant plans.

                            It is a re-organization, which means that:

                            Frontsight is open for training.

                            Currently, they seem to be honoring memberships with the addition of a $100 per student per day fee.

                            Brad Ackman addressed the bankruptcy in the classroom yesterday morning. He referred you to Naish's e-mail regarding Frontsight's thoughts and reasons. He also stressed that this is now a formal court-mediated process, so there are actually no exact answers to the millions of member questions regarding the issues.

                            I will add that anything else posted here is pure speculation, conjecture, and members own ideas for what they think should happen....

                            Comment

                            • w00dmaster
                              Member
                              • Apr 2014
                              • 161

                              $100 day

                              So your membership and FS bucks, gifts and everything is gone? Welcome to the club of founding members. If this works as izzy says he again gets everything he wants and is protected by the courts? $100 a day is not enough to keep the doors open and he will have to give the reorganization courts a viable plan out of bankruptcy. I see by the comments, you freebee guys don't like having to even pay $100 day. You were ok as long as it was free. chapter 11 will not make the fraud case from his investors go away. Who ever told him that were wrong, if that was the case every Ponzi case would just go to chapter 11? Its over Front site is done, and yes to make a class date, send money not knowing when you get there if they will even be open is foolish. The fat lady is going to sing soon!

                              Comment

                              • Doctor_Chicago
                                Junior Member
                                • May 2019
                                • 83

                                I will be the largest unsecured creditor of Front Sight and I will be involved in the 341 Creditors Meeting. There are many things to be considered and will take time to work through it with all parties involved.

                                Sent from my SM-G965U using Tapatalk

                                Comment

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