The government has a word for the practice of brining up a company, accumulating debt and assets, transferring the assets to a new company and then closing the one with debt. It's called 'Pyramiding'. This is what I believe they were doing. Most of the companies stayed in existence for less than a year. Assets were transferred to associates for less than their value and then transferred back into a new company. Customers, phone lines, furniture, employees, sometimes even the same office locations, was merged into a new company name leaving the investors of the old company with nothing but debt.
|
<Unknown Name> 2003 - ? |
|
MPact Development 2002 - 2003 |
|
Hypervelocity 2001 - 2002 |
|
Vicode 2001-2002 |
|
Vicom 2000 - 2001 |
| MJM
- PC Solutions 1998 - 2000 |
|
<Name Unknown> ??? - 1998 |
Vicom
wasn't 'The' company, any more than any of the others were. Here is the
string of companies that I know about. There were more before and I would
guess there will be more later. The flow shows the asset, customer and
money flow. (Follow the money.)
Location: North Sheridan.
Owners: Max Stevens and Robert Jaster
Location: North LakeView and 833 N Chicago
Owners: Mark Bruce, Max Stevens and Robert Jaster
Mark actually sold MJM and then brought it back under the same name in less than a year.
Location: 833 N. Chicago
Owners: Mark Bruce, Max Stevens, Robert Jaster, Al Petrangelo and other investors
Location: 833 N Chicago
Owners: Mark Bruce and Tim Waldusky
Location: 833 N Chicago and 1224 w. Van Buren
Owners: Max Stevens, Robert Jaster, Mark Bruce, Tim Waldusky
Al Petrangelo and other investors. Stock Offering Info.
Location: 1224 w. Van Buren
Owners: Max Stevens, Robert Jaster, Mark Bruce, Rosemary Bruce, Tim Waldusky
Al Petrangelo and other investors
Location: 1224 w. Van Buren ???
Owners: ???
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