Rick’s Overstates their Goodwill Wildly

Don’t worry, it’s an accounting/finance term. I am going to blog a financial analysis of Rick’s Cabaret, about the only stripclub-focused publically traded company left. There’s another, but its volume is nothing and it’s pretty much an obvious shell.

I feel invigorated and hope the journey into Rick’s sketchy financials (just the bits off yahoo and google finance are scary as all getout) will be an amusing and profitable one.

I think I will go into it later, but stating upfront that a significant fraction of your revenue stream is from dancer tipout is not really a good approach. Even mentioning that is immensely questionable, particularly in light of the ridiculous goodwill assessment. Even a behemoth of goodwill, CocaCola is not so absurd in its ‘goodwill’ crediting.

But these are bagatelles for now and I don’t want to jump guns, so I will pause for now.