Central-B Companies 2008 Resolution:

A Public Apology and Roadmap

Last Updated: April 10, 2009

Purpose:

This page is one step of many steps the Central-B Companies are taking to communicate about the serious disruptions and problems that began in 2008, along with progress in resolving the impacts of those problems. It will be updated from time to time with new information, and is the result of a dedicated team of resolution administrators and other volunteers.

What Happened:

• A major investor in the Central-B Companies collapsed in connection with the U.S. Subprime Mortgage Crisis. Without prior warning, this investor proceeded to breach agreements with the Central-B Companies, with devastating results:

  • Funding to the Central-B Companies was ceased without notice, despite the investor's commitments to just-opened and soon-to-open fledgling offices.
    
  • Crucial teams providing customer support and technical support were laid off and made unavailable to the Central-B Companies, despite the investor's commitments to provide this support.
• As a direct result of the abrupt breaches and due to the large scale of the amounts and resources promised and not fulfilled, affiliated companies Central-B Medias, LLC and Central-B Properties, LLC were instantly overwhelmed, and lacked information to advise others. Additionally the Central-B Companies, in continuing to fulfill their obligations under the agreement, despite the investor's breach, have not yet publicly released any of the investor's details or specific figures of the breach.
• Separate matters nonetheless affected our operations: A few key Administrators faced serious personal difficulties just prior and just after the larger business concerns began:
  • Extended family health emergency of founding administrator, resulting in reduced availability and response.
    
  • Deaths of administrators' close family members
  • Loss or near loss of housing of employees and administrators affected by the U.S. Housing Market Correction and Recession
• Since then, the Central-B Companies have been party to a number of regrettable actions, situations, and lapses, including:
  • The abrupt termination of new and old administrators
    
  • The abrupt termination of newly hired employees
  • Instances of severely delayed employee wages
  • Instances of severely delayed payments to service providers
  • Service interruptions and project stalls of custom services clients
  • Lapses in communication to people affected

Resolution Roadmap / How We're Fixing This:

• We apologize. For all the listed problems and the other hardships problems they have in turn caused, we sincerely and humbly apologize to all affected former employees, service providers, and clients, as well as their families and business associates. None of the administrators or employees of the Central-B Companies, at any point prior or since, have wanted to do business as we have had to these months.
• We communicate. This page is part of a larger effort to reach out. We will individually contact everyone directly affected, through postal mail, e-mail, phone, or some mixture of these, to both apologize and work through any remaining matters outstanding. If you are affected and have not been contacted recently, we will contact you soon. We also encourage you to contact us with updates, support, or concerns using the contact information below, and again apologize that we cannot immediately contact everyone while still resolving these matters properly and as promptly as possible.
  
• We take responsibility. This problem did not start with us, but we are working to end it with us. We take responsibility and have worked to stop the transmission of hardship through the Central-B Companies. We're glad to say that we have resolved many matters and work each day to resolve more in as practical, ethical, and sensible a manner as feasible.
  
• We continue to operate. The decision to continue operations was a difficult one, especially when for many months since, we could not properly advise everyone affected of the time or nature of a resolution. Part of the decision to continue operating is very simple: We can only properly resolve the remaining matters through continued operations. Another part is also simple: the Central-B Companies are just 2 of many companies who have distributed hardship relating to the U.S. Subprime Mortgage Crisis; we want to fix what can be fixed, and in doing so demonstrate how strugling companies can overcome, mend bridges that can be mended, and resume operations as better, stronger companies. We want to give back just as soon as we can, and we're reaching out to everyone affected, as well as our local communities to chronicle our progress and advise of options we may not have considered.
• We're adapting. Both Central-B Medias, LLC and Central-B Properties, LLC have significanctly changed their business models and operations to prioritize resolution and ceased services and operations that do not further both resolution and continued sustainable growth under that requirement. As we restore stalled prior plans, one high-traffic location in St. Louis is now made available for sharing with local business and as an incubation area for local startups.
  
• We have help. We have partnered with volunteers and administrators current and present to accomplish the immense body of research, communication, and logistics required to fix things when every hour counts. The phone number and e-mail address posted below allows for 24-hour turnaround handling of response of inquiries and updates, although in come cases a more complete response will take more time than the immediate 24-hour turnaround response we promise.

Thank You

We thank you! The overwhelming response from clients, service providers and previous employees: "We understand. We'll work with you."

This outpouring of support encourages us and helps us to help you.

To the few that have had very different response, our message to you in the meantime: "We understand--and we want to work through this with you."

To everyone, we thank you for your patience and understanding through a situation that is difficult for everyone involved.

We extend a special thank you to the following organizations (out of consideration for everyone involved, no individuals will be thanked here) for their excellent service and patient efforts:

• Justine Petersen Housing & Reinvestment Corporation of St. Louis, Missouri
  Provider of mortgage assistance, investment loans, and a number of important community initiatives
  
• Volz Electric of St. Louis, Missouri
  A highly recommended full-service electrical services provider serving the greater St. Louis, Missouri Metro area.
  
• Roto-Rooter
  A full-service, prompt and professional national firm handling all plumbing, sewer, and drain services in the U.S.
  
• unVOXT
  unVOXT provides voice and new media services and integration.
  

Questions & Answers:

How You Can Help:

Contact:

The resolution group (described above) is working to provide easier, reliable ways for affected individuals and companies to provide updates, support, concerns or make inquiries, in addition to the daily resolution efforts and outreach.

Please review this entire page before using the contact options below, as we depend on the resolution team's core work to communicate and arrange resolutions so that the operations necessary for the fastest, most complete resolutions continues with focus.

Please note that we are not equipt to handle resolution requests or updates through the main telephone numbers and e-mail addresses of the Central-B Companies and request that you direct all inquiries, support, concerns and updates through the contact options below.