Thanks for the response GRDadof3
I am a blogger, I write for my blog The Ledger. I write about West Michigan business new stories that interest me. Typically, I ask questions, make suggestions, and provide opinions. So no, I am not an expert, nor do I have the press badge or business card that grants me access to business leaders or records that normal press member could obtain. But I do a lot of research (hopefully in reading my posts this is quite evident) and I make do with this information. All in all my blog is just my thoughts and opinions, and I don’t claim it as anything more.
Spearia is a well-known company that was constantly in the news. Danny Beckett in spoke quite openly about money in many of his interviews and articles. Being a privately held company, balance sheets, and PL statements for Spearia were not readily available. So I took all the information I could find on the company (which was plenty), and began writing.
In regards to the possible misallocation of resources on large community events, I did focus on money. It's certainly possible that many of these events were well-sponsored and required little monetary investment from Spearia (as you mentioned and as a former employee mentioned on my blog)...but that doesn't preclude the events from being missteps either, as they must have required considerable planning and coordinating. Employee time and effort are also limited resources that might have been spent in a more productive manner. I think this was a factor in Spearia's downfall, though certainly not the only one. In fact, my post stated "ultimately it looks like a multitude of decision may have lead the company to unravel.”
The Spearia saga inspired no shortage of questions, and I posed many of those in my post, hoping to get answers and further insight on the company and what happened in the last two months. The response on both my site and the board here has been wonderful. I'm very excited that my post has inspired comments and discussion, leading to additional details that can paint a fuller, and clearer picture.
In fact, thanks to my post, I have spoken to some former Spearia employees & vendors that provided a lot of valuable information. I hope to be able to verify some of their accounts before publishing an additional update.
Thanks again for your interest in this story, and I certainly hope that the story of Spearia and Danny Beckett becomes a valuable lesson for any current and future business. Per Danny it looks like he has some other ideas (which he is extremely good at) so it will be interesting to follow him in the upcoming year, and see what he does next.