JoeMemphis wrote: ↑Wed Oct 27, 2021 7:01 pm
If you are no victim you should try not to sound like one.
Credibility on an anonymous message board is worth exactly what in your opinion? Reputation on an anonymous message board is worth what? Pro tip GoU - we are anonymous so we don’t have to worry about that shit. If it’s all that important to you then that’s pretty pathetic.
Not me. I do realize some people come to a message board to pretend to be someone they aren't, and to be a big expert. Maybe that's you, but my personal credibility IS important to me, even on an anonymous board. Of course, I'm not anonymous to many people here. You, on the other hand are. No one knows who you are. So all we have is what you say about yourself. And you said a lot today about your willingness to make shit up about others.
I would think that I would be in a much better decision to know whether a deal I lost money on is theft. Certainly in a much better position than you.
Really? So explain to me how, if someone contracts to build a house for you, takes your money and doesn't build the house, how is that not theft? Now, again, I realize it's legal. But it's theft.
The half million dead analogy is yours not mine. It’s not how I think. Perhaps it’s how you think.
No, you're the one that defends these corporations when they kill.
I can tell from your post that you don’t fully understand how VC deals are structured. Once again, you don’t have all the relative facts but you go on talking g like you do.
I know how these work, I've read quite a lot on them, as well as Mitt Romney and what he did. I could give you some links if you need to bring yourself up to speed.
Finally, the folks you were dealing with that did a deal with GS, you make it sound like they were not smart enough to read and understand their agreement. I have been in those meetings as well. I have actually read those documents that lay out the rights of the lender and the rights of the debtor. Nothing is hidden. It’s all in there. They clearly let you know how much the money costs and what you as the business have to do to stay in compliance and in control. It’s not easy but if the owners performs as they claim, it will work. It the owner fails then the lender can call the loan. Its that simple. It the owner has a better option, then they should take it. I have told owners as much. But if you are looking for someone to take a risky bet on your business, it’s going to come with strings. If you don’t like to deal, borrow the money elsewhere or go bankrupt. The VC company usually isn’t hurting for deals.
Oh, yeah, the company was sold from a major defense contractor and the leaders of the company got huge payoffs and bonuses to spin the company off. They made out with millions apiece. But then they had all this debt the company had to pay off. It caused them to drown with no way to make a profit. Of course, once they made their millions, they tried to fix things by attacking the workers, but they had a union to protect them. First they tried to cut wages and benefits, and that caused a strike that set them further back. Then they tried to declared bankruptcy to give the pension plan over the the PBCG, but the union blocked that in court, too. They did freeze the pension, but the workers were able to keep what they had earned. Then they tried to sell the company to a Chinese company, but we blocked that in court too. We were finally able to talk another one of the companies we had contracts with, a competitor, to buy them, and the people are still working.
But that's the normal way for these companies - pay off those who are making the decision to sell or not. They do what's in their best interests and then they fuck everyone else in the company.
Luckily for our folks, having a great union with resources protected them all the way. Without a union, they'd have gotten their pension stolen like Romney stole the steel company pension. Without the union, the company would have sold their product lines off, shut it down, and ran the dead husk through bankruptcy and it would be no more, and the workers left with nothing at all.
What do you call that? Oh, yeah, "just business". Winners and losers, right?