Business Summary

Summary of JME/SPS recent issues (thank you to the OP for permission to post)

* they have spent over a month with a public stance that they have completed their deal with Jeff and have nothing more to do with him
* they have now admitted that their contract fell through, they are no long purchasing WF or SPWF
* they are planning to throw their own competing events to replace them next year
* meanwhile they are running this SPWF for Jeff, while he still owns it, and they can't kick him out of the hotel or event because it's all still legally his, nor can they prevent him from paying himself for it since he can fire and replace them at any time; even if they keep repeating that he /won't/ be on premises or compensated

... trying to interpret what the Whitehouses said last night, it appears that SPS had a handshake verbal contract with Jeff in January which he will not honor, and which was based on Jeff misrepresenting the state of SPWF's finances to his own staff to inflate the sale. Therefore the written contract returned to SPS by lawyers does not reflect the verbal contract they agreed upon, and SPS has not and will not be signing it.

That said, given that they are continuing to act as Jeff's employees, and will be running the event that he still owns for him, for free, I think it is reasonable to say that most of the shareholders of SPS have deals with Jeff, while SPS itself does not.