My Man's Sportin' Wood
01-10-2009, 11:10 AM
As many of you know, Jeff's business partner of 10 years decided in April of '07 that he didn't want Jeff around anymore and forced him to sell his shares because he had placed so many of his (the partners) family and close friends in key positions in the company. Jeff was unable to buy the partner out because he couldn't run it without all these key people and they would surely leave when the partner left. So it was a coup and Jeff was out. Over the next 8 months, the partner ran a 3 million dollar a year business into the ground, embezzeled all of the assets and filed bankruptcy. The business closed in December of '07 (BTW, Jeff only got one payment out of 12 on his "buyout" and was left with the debt of the commercial building that the partner had maxed out the equity on before the prices of real estate fell).
Sounds a lot similar to the situation here. One person telling another "I don't need you here, I can do it better without you," and then proving himself wrong and running the business into the ground.
Nice work, y'all deserve a round of applause.
Sounds a lot similar to the situation here. One person telling another "I don't need you here, I can do it better without you," and then proving himself wrong and running the business into the ground.
Nice work, y'all deserve a round of applause.