Eric Bischoff Smarter and More Responsible? FULL BLOG 1/9/2009

[Black Widow]

ON THE CONGRESSIONAL INVESTIGATIONS

I’ve been debating whether or not I was going to comment on the recently released testimony from the government’s investigation into WWE and TNA.

From the beginning, let me make two things really clear: (a) I do believe that a meaningful drug testing/wellness program is long overdue in the professional wrestling industry, and (b) the idea that Congress (or any other arm of the federal government) should be providing any type of oversight in this area is a joke.

Why?

Three letters: SEC.

This comedy club (otherwise known as the as the Securities Exchange Commission) has broad subpoena powers and oversight of public securities. Yet despite this oversight, and the fact that there were numerous “red flags” that should have prevented the Bernard Madoff disaster from becoming the biggest single-handed financial scam in history, this world record fraud some how just fell through the cracks. $50 BILLION DOLLARS LATER Christopher Cox , the class clown that serves as Chairman of the SEC (the same guy who declared that Bear Sterns was in reasonably good shape three days before they went belly up) promises “an investigation”.

Who’s he going to put in charge of this investigation? Perhaps a good choice would be Minnesota’s newly proclaimed King of Comedy (I mean Governor) Al Franken. Since its clear the government’s ability to provide oversight is a joke, at least there would be a good punch line.

With Congress having found a new all time low when it comes to public confidence, regulatory agencies that have been tipping martini’s while guys like Bernard Madoff has been ripping off charities, and some jackass named Blagojevich making a laughing stock of the political process, I can’t help but understand why Vince McMahon treated investigators with such contempt. Congress should spend their energy and resources investigating themselves. It would be money well spent.

The market will mandate that WWE clean up their act. Advertising dollars determine who survives and who gets the ax in the world of television. No advertiser wants to be associated with a program or company that has the kind of record that WWE was piling up, especially when that company is touting a “cradle to the grave” marketing strategy. Pressure from advertisers and as a result, the television networks that are the life blood of WWE is the only reason Vince has succumbed to the pressure of REAL drug testing.

ON MATT HARDY’S RECENT REVIEW OF “THE WRESTLER”

Matt, you are a friggin goof. Lets set aside the fact that your brother is walking a “three strikes and you’re out” tight rope as a result of his drug abuse, and if internet “news” was accurate, suffered the loss of his home and property due to a fire because he was too irresponsible to insure it. Your recent recap of your “lifestyle” frames you as a candidate to the Jake Roberts Hall of Fame. Your suggestion that you and your generation are “smarter and more responsible” than previous generations of wrestlers makes me sick. You are a mid-card talent that should be grateful to even get a check every other week. Enjoy it while it lasts. And rather than looking down your nose at previous generations of professional wrestlers, donate a portion of your check to one of them and ask them to point out all the parallels between your current career path/lifestyle and theirs.

It would be the smartest and most responsible thing you could do.

ON DARREN ARONOFSKYS VIEW OF PRO-WRESTLERS AS SAG/AFTRA MEMBERS

When our company produced CCW, it was an AFTRA production. As a result we had to pay “fringes” (fees that go into insurance and benefits packages) that significantly increased the cost of production. I am not going to spend the time to calculate what the financial impact to WWE would be if WWE was forced (which is the only way it would ever happen) to become a SAG or AFTRA show, but suffice to say the number would be staggering to WWE. Combine that with union rules regarding overtime, residuals, and things like mandatory meal breaks, and it’s easy to see why Vince McMahon would fight this move until his last breath.

It’ an interesting situation to watch however, because I am not sure how long WWE will continue to be able to dodge the union bullet. The arenas WWE produces their events in are generally union “houses”. The local crews that are hired to set up staging etc., are union members (usually). Which means that for the most part, everyone associated with the staging of a WWE event are either employees of WWE, the arena, or members of a union.

Everyone except the talent.

The other thing that is going to be interesting to watch is the independent contractor/employee lawsuit. I have gone on record as saying that Scott Levy and company are desperately looking for some kind of a pay day, and I have zero respect for someone who knowingly goes into an agreement fully aware of its terms and then comes back and cries foul. It wreaks “loser”.

That said, the implications of this lawsuit are beyond frightening. Should the government, as a result of this suit, determine that WWE wrestlers are employees, the fines and back taxes that WWE could be held liable for are astronomical. There is no statute of limitations on these taxes and in the case of a public company, the Chairman can be held personally responsible.

As I stated in a recent blog on this subject, this potential exposure was a major concern for the finance execs at AOL/Time Warner. How ironic would it be that three guys who had no real impact on the industry while they were in it, could have a devastating impact on it years after they could no longer find work in it?

ON BHE TV NEWS

We have a couple of new shows in development and are appreciative of all of the positive feedback on our most recent project “Confessions of a Teen Idol” that airs on Sunday nights at 8pm on VH-1. The show premiered to strong ratings and is getting great reviews.

We will be headed to Waco, Texas soon to shoot a new series we created with Ted Nugent. This one is going to be crazy.

We are working on some format tweaks for season 2 of CCW and hope to have an announcement soon.

If you happen to play the slots at Native American Indian casinos, look for the new “Hulkamania” games. This is a project we have been working on for some time and are very excited about and proud of. Not many people realize that while 70% of gaming revenues in the United States come from Native American gaming, there are many tribes that don’t have gaming operations. More often than not, these tribes suffer from a lack of healthcare, basic services, and economic conditions that would make some of the poorest urban communities in America look good by comparison. This initiative is a result of Hulk Hogan’s interest in helping Native American children. You can read more about it by going to www.hulkhogan.com and click on media, then go to recent news.


ericbischoff.com

[DUKE NUKEM]

wow thanks for the read Ryan