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  • Originally posted by gmen0820 View Post
    Looking into it to do what?

    To see what he can do with the other partner. I doubt he can do anything at this point, who the hell knows.

    I think he put down a certain amount in the contract, so can't he get some of his money back or something?

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    • Originally posted by Moke View Post
      To see what he can do with the other partner. I doubt he can do anything at this point, who the hell knows.

      I think he put down a certain amount in the contract, so can't he get some of his money back or something?
      Without knowing the details, who knows.

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      • Originally posted by Drez View Post
        Without knowing the details, who knows.

        Yep, I don't know the details either. my dad has got to figure it out, hopefully.

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        • Without knowing the details, I'm gonna assume that whatever your father invested was subject to the same risk that all investments are subjected to.

          Unless you suspect that your father's partners intentionally ****ed your dad over, or that his request for the tax advance was not justifiable under the agreed-upon terms, then I think the bottom line is that your father got a raw deal.
          My body was sculpted to the proportions of Michelangelo's David.

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          • Originally posted by Moke View Post
            Yep, I don't know the details either. my dad has got to figure it out, hopefully.
            He needs to see a lawyer. Yes, I know, another expense, but one that is necessary.

            Please tell me he consulted one (and not the business partner's) before entering into the contract.

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            • Yeah, no idea man.

              Going to do insanity in a bit to get my mind off ****

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              • Originally posted by gmen0820 View Post
                Without knowing the details, I'm gonna assume that whatever your father invested was subject to the same risk that all investments are subjected to.

                Unless you suspect that your father's partners intentionally ****ed your dad over, or that his request for the tax advance was not justifiable under the agreed-upon terms, then I think the bottom line is that your father got a raw deal.
                Well, it'd be strange for there not to be a stipulation covering salary, even if it just a percentage of revenue or profit.

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                • Originally posted by gmen0820 View Post
                  Without knowing the details, I'm gonna assume that whatever your father invested was subject to the same risk that all investments are subjected to.

                  Unless you suspect that your father's partners intentionally ****ed your dad over, or that his request for the tax advance was not justifiable under the agreed-upon terms, then I think the bottom line is that your father got a raw deal.
                  Well, it'd be strange for there not to be a stipulation covering salary, even if it just a percentage of revenue or profit.

                  Comment


                  • Originally posted by Drez View Post
                    Well, it'd be strange for there not to be a stipulation covering salary, even if it just a percentage of revenue or profit.
                    Percentage of profit is typically what you'd expect as a minority shareholder, and is what you buy into the place for. Salary, though, is normally agreed upon; typically on a per-hour, wage-like basis, so not really salary, per se.

                    The problem is when the business isn't doing well. Then you get hit with a triple-whammy: no percentage to claim, no funds to draw wages from, and the reality of a return-less investment.

                    This situation is normally when the major shareholders buys out, or screws the minor shareholder. If it's legal screwing, though, then it's a really raw deal.
                    My body was sculpted to the proportions of Michelangelo's David.

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                    • It was a raw deal pretty much, so my dad is an idiot for going through with whatever he thought he was going to do.

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                      • Originally posted by Moke View Post
                        It was a raw deal pretty much, so my dad is an idiot for going through with whatever he thought he was going to do.
                        Not necessarily, but restaurants are a brutal business. 50%-60% fail in the first few years.

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                        • Originally posted by Drez View Post
                          Not necessarily, but restaurants are a brutal business. 50%-60% fail in the first few years.

                          I always thought it was even more than that.

                          It's just horrible, my mom thinks that he doesn't want to work.

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                          • Not really an idiot. It's tough to foresee those types of things. I'm sharing what I've heard from others, but for someone who hasn't heard something like that would think: "This guy (partner) is loaded, he's been successful, and his investment risk is far higher than mine -- so he definitely won't let this thing go belly up."

                            Unfortunately, though, the relative risk tends to favor the majority shareholder, and when that balance is too far in the partner's favor, that's when the shady, yet legal, **** happens.

                            The pizzerias that I work for have a similar buy-in system in place, but they're a slam-dunk deal with far more aligned interests. In addition to his impressive track-record, my boss is very ethical, too.
                            My body was sculpted to the proportions of Michelangelo's David.

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                            • Originally posted by Drez View Post
                              Not necessarily, but restaurants are a brutal business. 50%-60% fail in the first few years.
                              Most small-businesses, in general, fail within the first 5 years. A lot of that is due to incompetent ownership, but with restaurants in particular, it's a very saturated market with a lot of variables.

                              Originally posted by Moke View Post
                              I always thought it was even more than that.

                              It's just horrible, my mom thinks that he doesn't want to work.
                              The rift between your mother and father is only compounding the issue, and that's a shame. It's a bad situation, as is.
                              My body was sculpted to the proportions of Michelangelo's David.

                              Comment


                              • Originally posted by gmen0820 View Post
                                Most small-businesses, in general, fail within the first 5 years. A lot of that is due to incompetent ownership, but with restaurants in particular, it's a very saturated market with a lot of variables.

                                The rift between your mother and father is only compounding the issue, and that's a shame. It's a bad situation, as is.
                                Yep, I know.

                                It's affecting all of us.

                                My mom expects me to pay for my car insurance next month...not sure how I can really afford it...I'm gonna have to figure out a way to get to school/work a different way now.

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