First NLC

Posted: Wed Aug 01, 2007 8:25 pm

it is done as well. per inside source, the wholesale division shut down today.

plz confirm.

Spontaneously Combusted Joined: 12 Mar 2007 Posts: 2099

LOL...if you have an inside source, what do you need confirmation of?

Flash in the pan Joined: 14 Mar 2007 Posts: 35

My source tells me they are still in the game. What I heard was that they laid off 100 or so yesterday.

Flash in the pan Joined: 31 Jul 2007 Posts: 28

First NLC is dead,they justwont admit it yet. THis is the 5th round of layoffs since the first of the year, they are in litigation from a class action suit filed against them by thier employees for failing to pay overtime, submissions are almost non existant nad they have closed all but thier Boca Raton ops center and FBR (thier parent company) is "exploring all options for maximizing the return on First NLC (read as looking for a buyer).

They may still be doing business but not because they are healthy or can survive they are merely allowing a slow bleed rather than just cutting thier losses and getting out.

Basically, even if they are still there today they wont be in fairly short order.

Posted: Tue Jan 08, 2008 6:39 am

First NLC Ailing Post updated with an interesting tip.

http://ml-implode.com/ailing/l.....12-17.html