"MATW doesn't get to keep those products ".
--Sure they do. If EI doesn't buy them back, the units previously purchased and not sold are the property of Matthews.
"and if EI takes them back the carrier they chose becomes liable or in MATW's view."
--The products are FOB point of origin, which means once the product is on EI's carrier's vehicle, they are owned by EI. If the trucker loses them, EI has to go after the carrier.
"Now, you still would have to deal with breach of contract, which the BINDING LOU is."
--A "letter or memorandum of understanding" is not a contract. It leads to a contract. With no monetary penalties outlined in the LOU, "binding" loses some of its punch, in my unschooled opinion.
"If EI needs the inventory they should buy the products so they can sell them - if EI does not need the inventory MATW can not sell them on their own because MATW has breached the deal and is no longer authorized to sell the products - so it behooves MATW to follow through (my interpretation)".
--"In the event Matthews fails to comply with the minimum repurchase requirements set forth in Section 1 hereof, Matthews’ rights with respect to the Products shall be non-exclusive for the duration of the remainder of the Term."
In other words, MATW can continue to sell them, but so can others. (my interpretation)
"BTW, when did EI have the ST and Vatican products for sale?"
--From the 2008 10K:
"Currently, we produce...and market five logo designed products: caskets, urns, vault covers (Major League Baseball and Star Trek), garden memorial stones (American Kennel Club and Cat Fanciers’ Association), and cemetery medallions* (Major League Baseball, Star Trek, Precious Moments and Collegiate Licensing Company.)". I also remember seeing Vatican urns, with the tall twisted crosses, on the old EI website a couple years back. I'm sure most of you did. Is it a safe assumption that we'd try to sell them at that time?
As always, my commentary is purely my own interpretation of the facts. I may be right, or wrong. As they say "JIMO".
"..if giving people money so they could buy things actually made people
prosperous, welfare recipients would be the richest people on the
planet." (Bill Bonner)
AI
