Icon + MC = ?

[jrosenfeld]

https://www.prnewswire.com/news-releases/mc-group-merges-with-icon-to-form-one-of-the-largest-brand-implementation-companies-in-the-united-states-300912712.html

[Signsfast]

= we have a service opportunity in your area that requires a 2 man bucket truck and a NTE of $250, and oh now we will pay you in 90+ or not at all

[Erik Sine]

slow payer + slow player = x

 

x=?

[imanut]

And that's after they took over coastal signs in March.  But all of that after being leveraged by an equity group.  Follow the $, 

[Snoochie]

Gary,

 

You are correct my Friend.

 

Always follow the money and pay heed to the story it surely tells......

 

Peace Out

[richard2717]

Glad that MC sent that sorry sub agreement when they did. I will never do work for Icon again. I was a little bit upset over losing out on MC work because they sent me a lot that filled in the gaps, but it is surely for the best in this instance

[jamesw001]

It is okay to bleed red ink all over their contracts before sending it back to them. I do that with almost every one. You've got to protect yourself and if their contracts are so one-sided that they put all of the liability on you, fix it before sending the signed contract back!

 

Then, if it's a company that requires you to sign every single PO they send to you, save a copy of the marked up contract in a file so you can send it back (with a new signature and date) with the new PO they send you just to make sure they didn't add anything funny to it. That sure beats having to re-read every single contract every single time you get a little service job!

 

Just because they send it to you that way doesn't mean you have to accept it. It's a contract and you need to make sure it is a fair deal for both parties.

 

That includes their, usually ridiculous, "budget" amounts. Those crazy-low numbers are just a negotiation ploy designed to get you to work for pennies. That doesn't mean you have to accept it if you want the work. Change it to what the job is actually worth and send it back. You'll usually get it ... if you're a good company that they want to work with.

 

 

Edited October 1, 2019 by jamesw001

[Snoochie]

Icon + MC = Arcapita....

 

https://www.prnewswire.com/ae/news-releases/arcapita-s-portfolio-company-mc-group-continues-its-growth-with-another-acquisition-814768814.html

 

https://www.arcapita.com/our-board/

[paul321]

All I can say is WOW !     I guess they will not be celebrating 4th of July, or any other American Holidays anymore 
 

 

[imanut]

That's what I said after I looked up the people behind arcapita.  But they understand bankruptcy laws in the US.  Quite varied purchases also. $$$$.  Will make for long distance mailings to get paid? 

[jrosenfeld]

A private equity firm has no interest in running the day to day operations.  Their sole goal is to inject money, paying for operating capital, expansion and acquisition with the goal of selling the components off down the line for profit.  It makes sense that there's behind the scene financing for the Icon acquisition.  I didn't think MC had the bandwidth to pull that off.

 

If I was a sub working for Icon I'd want to take a look at my existing contracts and pay closer attention to invoicing. 

[Sign Lady]

Holy Heavens!  I didn't know this company was involved with MC - Had not read it anywhere or heard it.  Anybody else?   

[Service gallore]

On 10/21/2019 at 9:47 AM, paul321 said:

All I can say is WOW !     I guess they will not be celebrating 4th of July, or any other American Holidays anymore 
 

 

I work for them ,first thing they did was take Good Friday,  not a Holiday 

Anymore