Being 'locked' is also a bit deceptive, unless you're an idiot with a worse lawyer. If Costco can't pay the bills, you pivot or walk away.
GAY Combo Breaker Spam Thread
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Amstel
The Hoarse Whisperer
idk. I finance franchisees of small franchises where they're locked into a situation if they get to 60 days late on anything (electric bill, equip finance pmts, phone, etc) the franchisee loses their store to the corporate franchisor for $1.00.
A franchisee that's got rough credit and/or no $$ is ripe to agree to that. I've only had one of those deals fail.
Yes, that's what I'm saying. You walk away. As long as its someone else's money, well that's business.
Sounded to me like Amstel was saying the franchisee works really hard to not fall INTO default. Because of the high penalty - they lose any money they have put in and of course, all that sweat equity. Every business owner's prayer "let me get in the black and stay in the black".
Walking away generally means bankruptcy - you can only do that every 7 years. Albiet, going through bankruptcy makes you a good risk on any future venture where you are putting up substantial capital, since you can't walk away for another almost 7 years.
Amstel
The Hoarse Whisperer
Amstel
The Hoarse Whisperer
I get customers who to open a gym(etc) say this to me after their BK, and banks that say "So. You still can't get blood from a stone." Your "good risk" scenario usually includes some type of almost zero risk collateral.Albiet, going through bankruptcy makes you a good risk on any future venture where you are putting up substantial capital, since you can't walk away for another almost 7 years.
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You can walk away from anything. It doesn't require a bankruptcy. In fact, if you're able to do everything correctly, it won't even effect your personal credit. Of course you'd lose any collateral that you put in (but in the case of people with bad credit, I doubt they had much to throw in anyway).Sounded to me like Amstel was saying the franchisee works really hard to not fall INTO default. Because of the high penalty - they lose any money they have put in and of course, all that sweat equity. Every business owner's prayer "let me get in the black and stay in the black".
Walking away generally means bankruptcy - you can only do that every 7 years. Albiet, going through bankruptcy makes you a good risk on any future venture where you are putting up substantial capital, since you can't walk away for another almost 7 years.
If you're incorporated - maybe. Just because you're incorporated doesn't mean someone can't ask you to take on a loan as an individual, if you want the loan that will hopefully keep you from losing your collateral AND capital.. Collateral and capital are not the same thing. Collateral is something put up to secure a loan. You can't spend the collateral or spend against it - that secures the loan. Capital is assets you have or had, to put into the business. In a default you could lose the agreed upon collateral AND your capital. Loss of collateral doesn't always satisfy the total debt - it just beat a stick in the eye for the lender.
In the chicken contract case the farmers home and his place of business are the same place.
It's not like walking away from a home mortgage but you still have a job and can rent or buy somewhere else to live. Or walking away from a failing business but you still have your house and can find work somewhere else.
You live and work on the same land that is the collateral.
Amstel
The Hoarse Whisperer
In my world it's a "commercial transaction" with a "Personal Guaranty" ie: like cosigning for your biz. 99% of what I do is that. It's fun to explain to a customer that says "but what's the purpose of incorporating if I have to PG?" & I get that, so I have to explain that in a new business it makes sense because it limits their liability if a customer comes in, slips and falls and breaks a nail. But, for me, no PG would equate to me giving an 18yr old with no credit(the biz has no credit) this sizable equipment finance opportunity.
Amstel
The Hoarse Whisperer
This would certainly be a "market interrupter"
https://www.businessinsider.com/ale...b-grown-clean-steak-meat-photos-video-2018-12
@Ledboots
This redefines conspicuous consumption .
Mary Antoinette " Let them eat Kobe beef ."
Unless they find a way to make it cheaply .
But did the donor cells give consent?
Amstel
The Hoarse Whisperer
I keep thinking about this, but have come to the conclusion that over time it will be like everything else. Concluded to be *somewhat* acceptable because it's "the least offensive option"
Hear about the moil that made a change purse out of foreskins ?
It turned into a briefcase when he stroked it .
We can finally eat long-pig with a clear conscience .
And walk on all fours again .
Most vegans are content with this being ethical.
Another financially risky thing about chickens being raised like that is bird flu and other contagious health concerns
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