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| Topic: So my dad passed..input needed | |
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Now I am stuck with these arrangements since he had no plans at all. My question is he owned a business where he has 30 employees. I have no desire to keep this, or sell it. I have made my own way in this life, and want nothing of his. Most of his employees have been with his company for 10+ years. I talked with my attorney today about giving the business to the employees in shares, and letting the own/operate their own business. It would pretty much stand as is with mgmt, with the exception that the employees would be making a substantial amount more than they are now. Thoughts, or does this sound like a recipe for failure?
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Edited by
franshade
on
Fri 02/29/08 10:17 AM
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sorry posted twice
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Rob - my sincerest and deepest condolences on your father's passing. re: business - why do you think it may be a recipe for failure? |
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Would this be something that your dad would have liked to be done? I think that you should follow whatever you think that your father would have liked for his company and employees. I know that might not be much help. Good luck.
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Rob - my sincerest and deepest condolences on your father's passing. re: business - why do you think it may be a recipe for disaster? thank you. Because some people could possibly try to give more input than is required for them to do their job since they would have ownership stake. If all you have done for 15 years is run a machine, you should not be involved in the day to day operation, and sales of the company. It is just a huge headache for me. I don't want to make a decision that will leave people with families out of a job |
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Its your choice dude... I would wait and think about it.... mabey hold on to it... or if you do divide it up.... keep 51% of the shares.... that way your kids and thier kids and thier kids will always have money for college... like you said... you dont need buisness.... but think about the things you could be doing with that extra money with minimal effort.
Good luck, and sorry for your loss... |
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rob im very sorry for your loss.
 about the business, im sorry i dont know. |
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No business advice, but offer my sincerest condolences. Bless you and your family. Prayers for you and yours.
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hhmmmm.....i think employee owned is a good idea
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Would this be something that your dad would have liked to be done? I think that you should follow whatever you think that your father would have liked for his company and employees. I know that might not be much help. Good luck. quite frankly if he was concerned with it he should have made arrangements prior to his illness. I am not trying to sound cold, but people who are not prepared leave us in these situations. It is up to me now, I havent seen him in years prior to his death so I have no idea what he would have wanted |
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sorry for your loss.
As for business talk to your dad's attorney, she what his will says, maybe the decision is already made for you. |
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Rob go with your heart and the advice of an Attorney throw it in front of the employees I think you will find your answers by bringing them all together and explaining to them what your plans are. I'm sure they will do everythig possible to keep your Dad's dream alive for now it would be there dream as well. That is a very honorable thing to do. Kuddos to you and what ever you decide.
 
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sorry for your loss. As for business talk to your dad's attorney, she what his will says, maybe the decision is already made for you. |
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Condolences Rob
... no business input sorry guy 
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Edited by
suzyQ41
on
Fri 02/29/08 10:23 AM
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Now I am stuck with these arrangements since he had no plans at all. My question is he owned a business where he has 30 employees. I have no desire to keep this, or sell it. I have made my own way in this life, and want nothing of his. Most of his employees have been with his company for 10+ years. I talked with my attorney today about giving the business to the employees in shares, and letting the own/operate their own business. It would pretty much stand as is with mgmt, with the exception that the employees would be making a substantial amount more than they are now. Thoughts, or does this sound like a recipe for failure? I am sorry to hear about your dad. It is a hard thing to go through. As for his business, there are so many options. Listen to your lawyer and weigh out all of the options. And remember, Rome wasn't built in one day.
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My condolences
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sorry for your loss. As for business talk to your dad's attorney, she what his will says, maybe the decision is already made for you. Where is the House, what kind of business maybe I could help you, and the $ you raise can be used toward his funeral and the rest given to charity |
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Rob..This may sound nuts to you..but, everyone told me to give it a year before you make any decisions..because your mind will be alot clearer by then. In the meantime..talk with your lawyer and perhaps other family members..and weigh out all your options..that would be best for you. I'm sorry to hear about your Dad, my prayers are with you.
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If your going to donate the house should maybe go to a women's shelter for abused women it would be a good cause. Just a thought. As far as donating money ect St Jude's Cancer Hospital for kids would be a great place and you know the money would be used well. Just a couple of thoughts for you to ponder with.
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Edited by
darkowl1
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Fri 02/29/08 10:32 AM
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what you said, sounds like an incredible oppertunity for your new employees, you can change to open book accounting, and keep track easilier, while being a silent partner, it might take off like hell. you know, i'm sorry about your dad already. i hope your heart is not taking a beating too bad mentally, a lot goes on in the spirit world, and he will grow in leaps and bounds, so he will know that you are the awesome son, and person that we know you to be.!!!!! i'm always here for you, my nola brother. be safe and well.
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