Mindsight/Meacham Road has not gone out of business (as recklessly reported elsewhere) and partner Dan Niccolai is optimistic about the future of the 10-year old full-service company.
That’s despite partner Larry Kane’s filing of Chapter 11 reorganization for the benefit of creditors the end of January. In defense of the action, said Niccolai, “We did what he had to do to protect ourselves.”
Protection was needed, they said, from a former partner whose departure was mutual more than a year ago. Mindsight owes him the remainder of his termination payments as set forth in an employment contract when he left the company. It is said Mindsight’s payments grew increasingly late as other bills mounted up last year. The former partner’s potential legal action to collect may have been one factor instigating the Chapter 11 action.
Niccolai claims the Schaumburg-based corporate video house is “truly on the road to recovery,” which will be good news to the many freelancers who are waiting to be paid for work completed months ago.
“The reality is, 2003 will be a different for us than 2002. We have a great story to tell,” said Niccolai. He stated Mindsight is “carving out a niche in production launches,” such as one for Kohler plumbing. Its clients in the past have included Motorola, Whirlpool, Abbott Labs and Kraft.
Everyone is working hard to make the company succeed, Niccolai said and “our forecast is attributed to a better sales effort.” Still, two employees uncertain of the company’s future ? long-time editor Paul May and graphics designer Mark Jakeway ? quit last Friday.
Niccolai, Jack Liga and a third partner originally owned VPA, a thriving corporate video production house. They moved into the Meacham Road facilities owned by Larry Kane, whose other business interests are primarily in the high-tech realm.