First Official News From Fleer from beckett.com

[Greenbeans]

From the dirthole of the universe (beckett.com) comes the first official news about Fleer that I have seen. Here is the post:

Fleer Suspends Trading Card Operations
5/18/2005 5:04:17 PM



Fleer has suspended its trading card operations indefinitely until the future of the company can be mapped out, a source told Beckett.com Wednesday.

The company laid off the majority of its work force late last week - including several product developers and managers - although a few employees still remain. “The trading card operation is suspended and we’re not releasing anything new going forward until ownership determines the course of action it wants to take,” said the source, who requested anonymity.

The source said Fleer’s decision to suspend operations came “as a surprise” to most of the employees. “Obviously, we were shopped around last year,” the source said, “but we did turn our misfortunes around in the last year.”

While Beckett has received several questions about unfulfilled redemptions, the Fleer official could offer no definitive update. “It’s not that we aren’t going to ship those redemptions, it’s not that we are,” the source said. “All aspects of our trading card business, including redemptions, are suspended right now.”

Rumors of Press Pass buying Fleer to secure the NBA license and the Fleer Collectibles die-cast category have recently surfaced. Efforts to reach Press Pass for comment were unsuccessful Wednesday.

Fleer - which was purchased by Alex Grass and son Roger in 1999 for $26 million from Marvel Enterprises, Inc. - was shopped around twice in the last two years, most recently late last year, said an executive with one of the card manufacturers that met with the embattled company. “The debt we would have had to assume was just too great,” the executive said. “It wasn’t so much debt from the sports card line, but more when they tried to expand the gaming line. There were some pretty serious royalties [that hurt them].”

Fleer produced two benchmark trading cards in the 1980s. In 1984, the company was the only major manufacturer to release a Roger Clemens card, including the then-Boston Red Sox youngster in its 1984 Fleer Update set. That set also included the first licensed card of future Hall of Famer Kirby Puckett.

In 1986, Fleer helped resurrect the basketball card industry by releasing the classic 1986-87 Fleer Basketball set which included Michael Jordan’s Rookie Card - a card valued at $800 in Near Mint condition. Last year, Fleer jumped back into the high-end Rookie Card race, producing one of the hottest cards of the year - Ben Roethlisberger’s Fleer Hot Prospects JSY AU RC. Limited to just 50 copies, it carried an initial value of $200 in the October 2004 issue of Beckett Football. Within three months, its value had rocketed to $750.

Yet despite some successes in the secondary market, Fleer still seemed to struggle with collector acceptance.

“One of the biggest difficulties with Fleer over the years is that, with a few notable exceptions such as Ultra, Tradition, Greats of the Game and Hot Prospects, the company never established true brand identities,” says Beckett Price Guide analyst Rich Klein. “It was also confusing to collectors when names of products were switched on seemingly a random basis from Fleer Showcase to Flair Showcase and then back again to Fleer Showcase. In addition, with a few exceptions, the products Fleer introduced in recent years never resonated with collectors as the brands they created in the early- and mid-1990s.”

[LakersMC]

Thanks Greenbeans. Nice find. I was wondering when beckett would post something.

I like the guy's point about Fleer changing brands so much. Fleer Genuine, Box Score, Focus, Impact ... it was all so confusing ... and crappy.

[rmgibson2000]

yea, how forgetting to mention the majority of their products are porrly produced. it is common knowledge all people who buy fleer products stand a fifty/fifty chance if getting something damaged in their packs!

[lemonlime]

Thanks Greenbeans. Nice find. I was wondering when beckett would post something.

I like the guy's point about Fleer changing brands so much. Fleer Genuine, Box Score, Focus, Impact ... it was all so confusing ... and crappy.

true, and chalk that up the NEW managment. i absolutely do not like the wishywashy answer about redemptions either. that is an awful way to handle things, 'maybe so, maybe not'. what kind of bs answer is that?? whoever is behind all this should take a major financial bath. it sounds like a good thing that they have gone under. they treat their employees like crap for another thing.

[MLublansky]

Well i never had a problem with Fleer they have made some good products in the past but one thing i was wondering about you look at the Fleer Michael Jordon Rookie you think the BV on that will go down and i blame managment for everything that has happen to fleer i have alot of auto's from there that i jusr wont trade or sell i have turned in 8 redemptions to fleer all auto's #ed under 50 well i can kiss them goodbye :new_all_c

[lemonlime]

Well i never had a problem with Fleer they have made some good products in the past but one thing i was wondering about you look at the Fleer Michael Jordon Rookie you think the BV on that will go down and i blame managment for everything that has happen to fleer i have alot of auto's from there that i jusr wont trade or sell i have turned in 8 redemptions to fleer all auto's #ed under 50 well i can kiss them goodbye :new_all_c

this has been discussed alittle already but i have to say that i dont think that this will go down in value. the are a fixture in basketball history. however, if they do...lordy help all the people that have $1k's and thousands invested in that stuff.

[MLublansky]

i agree you know it might be a great time to pick one up you never know traders might not want any fleer cards

[Greenbeans]

I just find it funny that they have only suspended operations....maybe it isnt the end?

[tommy251]

I have a fleer redemption should I send it in and see what happens?

[Greenbeans]

well at this point what do you have to gain or lose with it? if you dont send it in its worthless, and if you do and dont get anything back, at least you tried