Bankruptcy trend among small firms stuns lenders

[krazykarl]

SN,


Insurance is a great example and you yourself admit that no one could start an insurance company if they need the full liable amount. Insurance is a regulated industry. Clothing stores at the local mall are not.


You are correct that the banter is fruitless. Perhaps you will reread my posts someday and, instead of taking the literal translation, extrapolate what my context meant. If you think I implied that every business since the creation of time should have their full to-the-grave cap-ex before their doors open you entirely missed my point and are, in fact, a cretinous moron.


Kind Regards -

kk

 

[silver914]

Quote from Swan Noir:

Karl ...

You are an imbecile.

Oh, I wouldn't go that far. Smug, yes and more than likely narcissistic. Glad I don't know him.

Along with insurance throw in Krispy Kreme, Playboy, and Disneyland, three of my favorite things; doughnuts, porn, and roller coasters. People like Karl love to point fingers. That's okay. It'll come home to roost some day. Perhaps it did and he's just still bitter.

 

[krazykarl]

Quote from silver914:

Oh, I wouldn't go that far. Smug, yes and more than likely narcissistic. Glad I don't know him.

Along with insurance throw in Krispy Kreme, Playboy, and Disneyland, three of my favorite things; doughnuts, porn, and roller coasters. People like Karl love to point fingers. That's okay. It'll come home to roost some day. Perhaps it did and he's just still bitter.

lol - not bitter: I look at it as tuition. I don't like pointing fingers. Frankly it irritates me when there is a situation where fingers can be pointed. With regard to the mall store going belly-up, I wasn't pointing fingers, it's blatantly obvious why the store went under.

 

[bigarrow]

How long have you been in business Karl?

 

[Anaconda]

Quote from Swan Noir:


So ... the lease in question was 84 months and you are still a giant ignorant asshole. Here is a list of a few businessmen who have made commitments based on expectations of future revenue rather than cash on hand: J. P. Morgan, Carnegie, Rockefeller, Krupp, the Rothschild family, every insurance company the world over ... need I go on?

Besides the namecalling, it does not help your case to point to individuals/families who were/are some of the biggest scumbags on the face of the earth. "Businessmen" is a kind term for them. They did not have expectations of future revenue, they made it happen any way possible, including murder.

Bottom line, krazykarl gave a direct rebuttal to your argument and you dance around it. If you're serious about business, you don't assume or hope, you plan for each scenario. Particularly the downside, exit and the point at which you call it quits.
This is the main reason that every aspiring business owner and entrepreneur should write a proper business plan. Talk with any quality investor when it comes to starting venture, business, etc. The first focus is on the downside, the "what ifs" and the exit if the sh*t hits the fan.

Just because you feel that you should own a small business & you can put in some work into it, does not mean you are owed success or even marginal profitability.

 

[Sandybestdog]

Quote from bigarrow:

How long have you been in business Karl?

Since January 2006 when he started to get paid to make stupid, after the fact comments on ET.

 

[krazykarl]

Quote from bigarrow:

How long have you been in business Karl?

Formed the LLC in 2000 - before then did freelance projects with some friends for a few years.

 

[Swan Noir]

What rebuttal? He asked me if I thought you needed to take a bank loan to start a business. That's a rebuttal?

And I even answered him.

Quote from Anaconda:

B

Bottom line, krazykarl gave a direct rebuttal to your argument and you dance around it. ccess or even marginal profitability.

 

[Anaconda]

Quote from Swan Noir:

What rebuttal? He asked me if I thought you needed to take a bank loan to start a business. That's a rebuttal?

And I even answered him.

You state that going out there and winging it is a sound business strategy on borrowed money. Signing a 7 year lease is sensible even though you have no clue if you can meet it for the next 12 months.

This is the type of attitude that is predominant in today's small businesses that are now going bankrupt.

Who is to blame besides the owners of these small businesses?

 

[krazykarl]

Quote from Anaconda:

You state that going out there and winging it is a sound business strategy on borrowed money. Signing a 7 year lease is sensible even though you have no clue if you can meet it for the next 12 months.

This is the type of attitude that is predominant in today's small businesses that are now going bankrupt.

Who is to blame besides the owners of these small businesses?

Anaconda, you know I don't agree with nearly all of your posts, but it's the Banks/Obama/Space Aliens/Chinese Space Aliens that dress like Obama/Bush Jr./Federal Reserve/Wal-Mart/etc. that are to blame. Everyone is to blame except the individuals that made the commitments. As a nation we need to take more individual responsibility and stop passing the damn buck.(just my opinion - no pun intended.)