Eric Bischoff updated the blog section of his website with comments on the lawsuit filed by Scott Levy (a/k/a Raven) and two other wrestlers regarding the independent contractor issue. "WWE is now a publicly traded company," Bischoff wrote. It is responsible to it's shareholders and therefore must react tomarket conditions and influences much differently than when it was a privately held company.

"While the Chairman can stack the deck with a Board of Directors and executive management team that looks more like a friends and family reunion than anything else, should the IRS determine that WWE's contracted talent are employees and not independent contractors, there is the potential for significant fines, expenses, and cost of doing business on a go-forward basis that could have a serious negative impact on WWE stock." To read the full blog, visit EricBischoff.com.

Powell's POV: Very interesting read. Bischoff said the independent contractor vs. employee debate was raised by people within Time Warner, and there were concerns that an unfavorable ruling from the IRS could have resulted in fines and cause problems for the stock. Highly recommended read.

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