Bankruptcy trend among small firms stuns lenders

[spinn]

Quote from krazykarl:

You don't need a crystal ball, you need risk-management and common sense.

Karl is mentally and I too am glad I do not know him.....he seems like a trust fund kid who has never had a job, to be honest.

 

[krazykarl]

Quote from Sandybestdog:

Hey Dipshit, you don’t see his point because you have no idea what you’re talking about. Why are continually bashing my friend and saying that he didn’t have the resources or capital he needed? What part of “he was well financed at the start of the lease” don’t you understand? He didn’t need to borrow any money to be well financed (although he has several credit lines), he already had enough. He didn’t rely on “hope” or “wishing” or “advertising”. He relied on the fact that he had already been running a successful clothes store in this mall for almost 10 years.

The fact of the matter is you judge everything after the fact and use the outcome as the determing factor as to how well the business started. If somebody opened a business on a shoe string and made all kinds of commitments that they couldn’t honor but it worked out, you’d say they had a sound business plan and “forecast the economic climate correctly.” If on the other hand somebody was well capitalized and had a solid business plan and in fact had already been in business for several years and that business didn’t work out, you will always say that person didn’t do anything right.

There’s no doubt you work for a large multinational company that hires you to bash small business and encourages community oriented, local, good small businesses to close their doors and stop trying.

I imagine if we started to talk about why GM failed, your first response would be that they paid their employees too much. Cause after all, an employee who is well paid is bad for that business.

lol. You're using logical fallacy to attempt to prove your point. Your friend's result was directly attributable to the decisions he made or didn't make. You cannot argue that. When faced with challenges he made the wrong decisions, or didn't make the correct ones soon enough, any number of perhaps a thousand other possibilities.

As I said earlier, I'm self-employed.

I would love to talk about why GM failed. Start a thread on it and I'll contribute to it.

 

[krazykarl]

Quote from spinn:

Karl is mentally and I too am glad I do not know him.....he seems like a trust fund kid who has never had a job, to be honest.

I've worked for large companies in the past. What part of "self-employed" is so difficult for you to grasp?

 

[silver914]

I've changed my mind. Karl's original statement was that the only businesses going bankrupt were one's making poor decisions. His subsequent antagonistic remarks and dedication to replying to each and every rebuttal leads me to think he's just plain bored.

He knows better, he's just fucking with everyone. That's okay. I do that too.

Now, Anaconda disappoints me. He sounds truly convinced. I have read some of his posts in the past and find him interesting at times. Not this time.

Karl, weren't you shorting GOOG about a year ago? I could be thinking of someone else. I haven't the time nor the inclination to look it up.

 

[krazykarl]

Quote from silver914:

I've changed my mind. Karl's original statement was that the only businesses going bankrupt were one's making poor decisions. His subsequent antagonistic remarks and dedication to replying to each and every rebuttal leads me to think he's just plain bored.

He knows better, he's just fucking with everyone. That's okay. I do that too.

Now, Anaconda disappoints me. He sounds truly convinced. I have read some of his posts in the past and find him interesting at times. Not this time.

Karl, weren't you shorting GOOG about a year ago? I could be thinking of someone else. I haven't the time nor the inclination to look it up.

Yeah I was synthetically short google and made a good amount. I have a thread with my entries and exists if you get board.

 

[spinn]

Quote from krazykarl:

I've worked for large companies in the past. What part of "self-employed" is so difficult for you to grasp?

You are mean, probably a hypocrite and a shoe-in for this weeks blowinsky award.

 

[krazykarl]

Quote from spinn:

You are mean, probably a hypocrite and a shoe-in for this weeks blowinsky award.

Excuse you? How am I "mean"? Just because you don't agree with my opinions hardly qualifies you as a character judge.

 

[bigarrow]

Quote from krazykarl:


Having 74 vs. 84 months is NOT prudent;

Karl I don't know of any business that knows what there gross or net income will be for the next 7 years. Do you?

 

[krazykarl]

Quote from bigarrow:

Karl I don't know of any business that knows what there gross or net income will be for the next 7 years. Do you?

No. What does that have to do with anything? My comment related to there being no difference between 74 months or 84 months worth of revenue, from a planning/decision perspective. Taken out of context like that the comment is silly - you need the whole paragraph before it.

edit: re-reading my paragraph "prudent" should probably have been "relevant".

 

[bigarrow]

Quote from krazykarl:

No. What does that have to do with anything? My comment related to there being no difference between 74 months or 84 months worth of revenue, from a planning/decision perspective. Taken out of context like that the comment is silly - you need the whole paragraph before it.

edit: re-reading my paragraph "prudent" should probably have been "relevant".

I thought that was the point of your comment that they need the complete amount of the lease payments in reserve or in guaranteed payments. I guess I don't know what your point is.