Haig Bagerdjian has flown P360 into the ground. About 15 years ago he tried to build something similar to RedBox except on a grander scale. Ken Holland, the original owner of IVC/P360 knew his employees and spoke to them on a one to one bases often. Ken knew everyone's talents. Haig on the other hand kept himself aloof and was never seen. If he had taken the time to get to know his talented engineers, he would have known they had hardware, programming, networking, database and PC boards design skills. Another project Haig sunk tons of money into, paid outsiders to do the work and allowed the project to fly right into the ground, without realizing that the talent to do the job was right under his nose.
I joined IVC in 1992, Ken Holland built a great empire. He knew knew and visited all his employees, weekly catered lunches, sent gifts to those with newborns and paid an honest wage. He was loved by all but as usual, all good things come to an end. Point360 purchased IVC and we were allowed to grow for about a year, no changes. We were in lockdown for a week. Company records were examined for fraud. Heig was paying a 3rd party company to write software. We never received a product. I think P360 was tricked out of a million dollars. We watched Heig as he crushed other post productions houses in New York, Texas and San Francisco. Without knowing anything except being a bean counter, we were moved out of the 2777 Ontario Street, the IVC landmark, away from the action to a crappy little hole in the wall at the Media Center. Heig started another venture to compete with RedBox. Because Heig didn't know his employee capabilities, he missed Jim and Sandy, two top programmers could have written his software. His RedBox venture was a disaster. One by one the chickens were picked off. After 19.9 years, just before christmas, I got sacked. It actually was a relief. The facility was horrible and the drive long. Ken Hollands mighty empire is an empty shell now, and getting ready to close it's doors for good. Rumor has it that Heig has purchased buildings with his own money outside of the P360 corporation, is renting those buildings back to P360 and has moved corporate equipment into them. Don't you just love Heig?
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