Michael Hardner Posted March 4, 2011 Report Share Posted March 4, 2011 I caught this article in a local SW Ontario paper: Sachem I remembered this old guy. He seemed quite bright, and he even got himself a deal ! His invention was a drill that allowed truckers to roll up straps on their trucks more quickly. But the result was disappointing and wasn't explained by Dragons Den or CBC: Schmidt stated in an interview with The Sachem he received a phone call seven months later after he was filmed on the show last May from Dickinson’s assistant stating that the deal had been dropped without any explanation.“What they said, what they promised, didn’t come through,” he said. He added, “They didn’t even say why, “Not even a phone call in one year, it is very disappointing, I am hoping they will reconsider.” Schmidt advises any inventor considering to audition for the show should “keep in mind that it is exposure but a deal in the den doesn’t always mean a deal is a deal.” For more information about the Mag Rollup visit www.magrollup.com Quote Link to comment Share on other sites More sharing options...
Moonlight Graham Posted March 4, 2011 Report Share Posted March 4, 2011 yup, remember this guy. How do you just "drop a deal"? I'm sure the Dragons have to double-check the statements of sales figures and everything that the pitch people say on the show, and have their lawyers etc. go through everything before a finalized deal is made. But 7 months seems like a long time. I would hate to do a deal with Kevin O'Leary, he seems so ruthless and profit-driven that he would screw people around and drop people without notice the moment they don't financially benefit him anymore. At least the others seem to have a better sense of business ethics. But on the other hand, if you got a profitable & watertight deal with Kevin i'm sure he would do his best to make both him & you as much money as humanly possible. Love that show! Quote Link to comment Share on other sites More sharing options...
Michael Hardner Posted March 4, 2011 Author Report Share Posted March 4, 2011 Me too. It's very Canadian and also not Canadian in so many ways too. I'm just surprised, greatly surprised, that the kindly old guy didn't get an explanation. Quote Link to comment Share on other sites More sharing options...
Michael Hardner Posted March 4, 2011 Author Report Share Posted March 4, 2011 George Schmidt of Cayuga appeared on the CBC show Dragons' Den on February 9 at 8 p.m. hoping the dragons’ attention would give his latest gadget, the Mag Rollup, some attention. Quote Link to comment Share on other sites More sharing options...
M.Dancer Posted March 4, 2011 Report Share Posted March 4, 2011 I would hate to do a deal with Kevin O'Leary, he seems so ruthless and profit-driven that he would screw people around and drop people without notice the moment they don't financially benefit him anymore. One would hope. Why would you want to invest in a company that doesn't benefit you? Quote Link to comment Share on other sites More sharing options...
GostHacked Posted March 4, 2011 Report Share Posted March 4, 2011 (edited) Are they planning on stealing his idea?? And I must admit that is a really ingenious product. I know a few truckers that would love this thing.. Edited March 4, 2011 by GostHacked Quote Link to comment Share on other sites More sharing options...
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