https://www.forbes.com/sites/noahki...f-the-2-4-billion-sale-to-coach/#218c0f355b2b
please give more examples
please give more examples
Selling too early
- Thread starter zdreg
- Start date
Miles Gilbert "Tim" Horton (famous hockey player) one of the co-founders of Tim Hortons.
I believe the family took the other co-founder Ron Joyce to court because they stated they sold the business to him for 1 million dollars and allowed to keep like +40 stores if he didn't sell it to anyone else. He sold it to Wendy's International (part of the Restuarant Brands International) and +15 years later it merged with Burger King for 18$ billion dollars (some news said it was 11$ billion dollars).
They lost the court case although it was well known at the time that Ron Joyce was working in secret on the deal with Wendy's for hundreds of millions and underestimated the value of Tim Hortons so that he could purchase it from the family for 1$ million dollars.
It was said that he knew Wendy had plans to take Tim Horton's into an IPO...it did do just that and raised 700$ million as an IPO.
Family was allowed to keep their charity foundation with the name and a few allowed to work as employees of the business.
Funny part of the story, one of Miles Horton's daughters that was an employee of one of the Tim Horton's stores married the son of Ron Joyce essentially ensuring the family was back in on part of the 700$ million dollar IPO although its never been disclosed how much they got.
Also, it was rumor that the daughter had a dislike of McDonalds in Canada and that persuaded her husband to encourage the board of Tim Hortons to merge part of their ownership (like 15 - 20%) with Burger King to prevent McDonalds from getting a monopoly hold here in Canada.
wrbtrader
I believe the family took the other co-founder Ron Joyce to court because they stated they sold the business to him for 1 million dollars and allowed to keep like +40 stores if he didn't sell it to anyone else. He sold it to Wendy's International (part of the Restuarant Brands International) and +15 years later it merged with Burger King for 18$ billion dollars (some news said it was 11$ billion dollars).
They lost the court case although it was well known at the time that Ron Joyce was working in secret on the deal with Wendy's for hundreds of millions and underestimated the value of Tim Hortons so that he could purchase it from the family for 1$ million dollars.
It was said that he knew Wendy had plans to take Tim Horton's into an IPO...it did do just that and raised 700$ million as an IPO.
Family was allowed to keep their charity foundation with the name and a few allowed to work as employees of the business.
Funny part of the story, one of Miles Horton's daughters that was an employee of one of the Tim Horton's stores married the son of Ron Joyce essentially ensuring the family was back in on part of the 700$ million dollar IPO although its never been disclosed how much they got.
Also, it was rumor that the daughter had a dislike of McDonalds in Canada and that persuaded her husband to encourage the board of Tim Hortons to merge part of their ownership (like 15 - 20%) with Burger King to prevent McDonalds from getting a monopoly hold here in Canada.
wrbtrader
Now imagine what could have happen for the family had they not sold their business for 1$ million dollars plus 40 stores.
They would be billionaires today...a lot more than just a hockey family name and on that Forbes list of the world's wealthiest famiy list.
Slick move by one of the daughters to married into the Joyce family to get them back in on something than just 1$ million dollars.
wrbtrader
They would be billionaires today...a lot more than just a hockey family name and on that Forbes list of the world's wealthiest famiy list.
Slick move by one of the daughters to married into the Joyce family to get them back in on something than just 1$ million dollars.
wrbtrader
Nothing worse for a man's mental health than "what could have been". The world is huge and opportunities exist all the time.
Edit: though I think the value in the stories is "let winners run, but take a little off"
Edit: though I think the value in the stories is "let winners run, but take a little off"
Example? Darn near every frickin' trade I make! It's ok tho, I make up for it by holding losers way too long. 
Example? Darn near every frickin' trade I make! It's ok tho, I make up for it by holding losers way too long.
ROFL!
Dang right. In the late 90's my tax CPA asked me why I traded AMZN so much, I explained their disruptive business mode l & how it was going to dominate retail, & all that.
His words have haunted me every day since "If you really believe in AMZN, Why not just hold a small position long term, until you retire? 10-20k shares you can buy from your petty cash. How are you going to feel 20-30 years from now if it goes to the moon and your day trading doesn't pan out?"
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OMG Mr. Gumby, that's horrible! Reminds me of the thoughts I had about FB going public, and Alibaba around the same time. I did some FA on them, and thought they would be good buys at their IPOs.
But I decided against it, because I was in "safe gubmint bonds and REIT" at the time, and I did not know how to invest in individual stocks.
