|
Post by greekgod on Jun 24, 2015 17:55:45 GMT -6
Tell us what your plan would be to "finance" the purchase of "Ace Hardware" . Greek, there is no viable plan to borrow enough to purchase it unless it is purchased at a significant discount. You are too stupid to see it. To buy something like that, you have to have the resources to purchase it mostly if not all outright, and what fool would lay his capital down in this age, in this area? It would be like a kid trying to break into farming without having a family farm. We could do it when I was a kid, not today bud........ even with your vaunted "cheap" money. Sniper. You're wrong again. I'll let you chew that for awhile. I enjoy that you recognize the fact that due to the current inheritance tax changes implemented under ""W's" administration it does indeed make it difficult for those whose family does not own a "farm" to make it possible to buy farmland. But isn't that the Tax Policy you support? Why should you and I support a Farm Policy to support farmer's ? Should children of farmers who inherited the land, be permitted to be TO BIG TO FAIL? g
|
|
|
Post by greekgod on Jun 24, 2015 18:08:58 GMT -6
Sniper, You know what I really enjoy? It's the very simple fact that neither you nor Job, present a plan on how to purchase a viable business. Why would that be? A Corporate Lackey from Indiana, and a self-proclaimed UIC Law School Graduate ( who takes pride in "busting teacher's unions ") present a better plan than I presented? Let me guess, because you have no clue how to accomplish the deal. g
|
|
|
Post by roman on Jun 24, 2015 18:29:53 GMT -6
Sniper, You know what I really enjoy? It's the very simple fact that neither you nor Job, present a plan on how to purchase a viable business. Why would that be? A Corporate Lackey from Indiana, and a self-proclaimed UIC Law School Graduate ( who takes pride in "busting teacher's unions ") present a better plan than I presented? Let me guess, because you have no clue how to accomplish the deal. g Why would I attempt to cobble up such a plan? I have never pretended to be a businessman. I was just a humble lawyer. From what Sniper has posted, I would have to agree: It would require too much money to purchase a business with such an expensive inventory. More important, what would be the long-term profit expectations? You are the one pretending to be a successful businessman, but the simplistic plan you set forth above shows that you have no understanding of "business."
|
|
|
Post by roman on Jun 24, 2015 18:49:16 GMT -6
Let's review Greek's "plan." I have omitted his usual extraneous comments to focus on the key elements of his "plan."
========================================================================================
"What would the down payment on a business with that inventory need at this time?
If you buy the inventory, not a retail but wholesale, that would be assignable to the bank in case your default on the loan.
For the building the same would apply. Perhaps, Bill would be willing to rent the building. Who knows?
Now you have to come up with the down payment. I really don't know the amount at this time nor the length of the loan.
I you have any equity in your home, or other personal property you can use that to come up with come up with part or all of the down payment of the purchase.
Oh, and I'd get a good CPA and Attorney to put the package together.
Oh, and I would not walk into the Bank, and tell them how much I can increase the business at ACE, I would reassure all the employees at ACE I want to keep them.
I would make certain all my business bills were paid before taking anything from the business."
_________________________________________________________________________________________________________
It would be interesting to see how a "good" CPA and attorney would put together the "package" Greek described.
|
|
|
Post by greekgod on Jun 24, 2015 19:15:01 GMT -6
Sniper, You know what I really enjoy? It's the very simple fact that neither you nor Job, present a plan on how to purchase a viable business. Why would that be? A Corporate Lackey from Indiana, and a self-proclaimed UIC Law School Graduate ( who takes pride in "busting teacher's unions ") present a better plan than I presented? Let me guess, because you have no clue how to accomplish the deal. g Why would I attempt to cobble up such a plan? I have never pretended to be a businessman. I was just a humble lawyer. From what Sniper has posted, I would have to agree: It would require too much money to purchase a business with such an expensive inventory. More important, what would be the long-term profit expectations? You are the one pretending to be a successful businessman, but the simplistic plan you set forth above shows that you have no understanding of "business." Job, Of course you're not a businessman. Obviously you have not concept of business. You agree with Sniper it "would require too much money to purchase a business with such an expensive inventory"? I am so happy I did not have you as an attorney. Quick question , when one purchases a business , how does the lender consider inventory? Call a friend, Job. Get back when your know the answer. g
|
|
|
Post by roman on Jun 24, 2015 19:50:30 GMT -6
Hire me Greek? There is no way you could afforded to hire me.
|
|
|
Post by greekgod on Jun 24, 2015 20:08:00 GMT -6
Let's review Greek's "plan." I have omitted his usual extraneous comments to focus on the key elements of his "plan." ======================================================================================== "What would the down payment on a business with that inventory need at this time? If you buy the inventory, not a retail but wholesale, that would be assignable to the bank in case your default on the loan. For the building the same would apply. Perhaps, Bill would be willing to rent the building. Who knows? Now you have to come up with the down payment. I really don't know the amount at this time nor the length of the loan. I you have any equity in your home, or other personal property you can use that to come up with come up with part or all of the down payment of the purchase. Oh, and I'd get a good CPA and Attorney to put the package together. Oh, and I would not walk into the Bank, and tell them how much I can increase the business at ACE, I would reassure all the employees at ACE I want to keep them. I would make certain all my business bills were paid before taking anything from the business." _________________________________________________________________________________________________________ It would be interesting to see how a "good" CPA and attorney would put together the "package" Greek described. Job, You're correct of course. Why should I pay an attorney? g
|
|
|
Post by greekgod on Jun 24, 2015 20:35:21 GMT -6
Hire me Greek? There is no way you could afforded to hire me. Job, Why would I want to hire you?
|
|
|
Post by chevypower on Jun 24, 2015 21:41:32 GMT -6
The lender considers inventory by the profits that will be projected at first, and profits is the whole game.
|
|
|
Post by OutlawwithaSnipeSniper on Jun 25, 2015 6:58:29 GMT -6
Greekie is too stupid to consider we know that inventory is valued at cost, not retail. Further, there isn't a bank around that would give someone, even with good credit, capital secured by inventory at that valuation.
Greek has never been to store closing auctions where other businessmen purchase said inventory at 10 to 20 cents on the dollar, and usually closer to the 10 cent mark.
I was being VERY conservative with the 1 Million dollar inventory, I had $ 260,000 approx at the store, and it wouldn't fill 1/8th of Ace's store.
I'm tired of jacking with him, so to close my participation, let's just enjoy our Ace, and hope like heck it is still here as a GREAT place to shop, and understand that if we don't support it, lots of items that you take for granted that you can buy right now, won't be there, because we flat just aren't big enough anymore to recreate the magic.
|
|
|
Post by Kyle Mitchell on Jun 25, 2015 7:27:44 GMT -6
The lender considers inventory by the profits that will be projected at first, and profits is the whole game. WTH are you talking about? Do you just post BS because you don't have anything meaningful to post?
|
|
|
Post by Kyle Mitchell on Jun 25, 2015 7:28:01 GMT -6
Well we can go to Peru or Pontiac or Seneca and Morris. Those look to be the closest stores to streator. Snipe, No wonder you NEED YOUR NANNY CORPORATION. What would the down payment on a business with that inventory need at this time? If you buy the inventory, not a retail but wholesale, that would be assignable to the bank in case your default on the loan. For the building the same would apply. Perhaps, Bill would be willing to rent the building. Who knows? Now you have to come up with the down payment. I really don't know the amount at this time nor the length of the loan. I you have any equity in your home, or other personal property you can use that to come up with come up with part or all of the down payment of the purchase. But, of course you wouldn't have the guts. I never had a Nanny Corporation 401K, but if you have the Stones, perhaps you could withdraw it, pay the hit on taxes and GO GALT. Oh, and I'd get a good CPA and Attorney to put the package together. But, since you know it all about the "Monthly Nut", you don't need to pay for advice. Oh, and I would not walk into the Bank, and tell them how much I can increase the business at ACE, I would reassure all the employees at ACE I want to keep them. I would make certain all my business bills were paid before taking anything from the business. Sorry, Snipe, this is just a quick outline. Pretty much a "turn key" business, eh Snipe? A man as intent on Going Gaul, and raising chickens, being the "tip of the spear", and understanding how Capitalism works should be able to start from there, right. Oh, and as a "backup" plan for failure, you should take on a partner you trust and never watch the books. g P.S. Snipe, you might to incorporate you new investment in another country, and keep your account off shore. Humm, sounding better all the time isn't it? WTH does a down payment have to do with anything? The scenario(with low dollar amounts) was a million dollar business loan and the costs involved with it. Of course banks would want to make sure that an owner was also invested in the business, but unless the owners investment was at least a million dollars of assets that could be secured, would any down payment really have any bearing on the cost of the loan? If banks do loan for just inventory for such small businesses, because it would be so hard to track and secure, wouldn't it be a huge risk and therefor be much more costly than other loans? Since you aren't smart enough to understand what the "nut" could be, how much do you suppose the monthly interest payment on that million dollar loan would be? Yes, I agree that it would be unlikely that someone would step up with the huge amounts of cash needed to buy the business, considering that our population keeps on declining and our City leaders are not addressing the problems that are making more and more good people want to leave. We can't even support a movie theatre and it seems that even the National Guard gave up on our declining community.
|
|
|
Post by chevypower on Jun 25, 2015 12:23:34 GMT -6
The lender considers inventory by the profits that will be projected at first, and profits is the whole game. WTH are you talking about? Do you just post BS because you don't have anything meaningful to post? Suppose you get a Business loan? they want the profit margin and the retail price also, if there is not enough profit then you do not get the loan, these are the facts on this, and you had better dot your I s and cross your t s when going for a Business loan/ grant.
|
|
|
Post by chevypower on Jun 25, 2015 12:25:35 GMT -6
inventory has a lot to do with the loan too, not just the Building alone in most cases.
|
|
|
Post by tikigirl on Jun 26, 2015 11:04:19 GMT -6
Streator Ace Hardware is 100% NOT closing. Stop running with baseless rumors people.
|
|