Have you ever just said "Fuck It"?
- Thread starter Stoo
- Start date
I don't recommend saying Fuck it, I find it's harmful to the work environment and demotivates other staff. I have found Not Giving a Fuck to be more effective and would recommend it as a useful alternative. 
http://www.youtube.com/watch?v=6wS5xOZ7Rq8
On a serious note have you even looked at the buyout offer? It might be something to consider, the offer might be decent and even if it's a break even it might help your employees to land on their feet as finding another job in this economy will take them some time.
http://www.youtube.com/watch?v=6wS5xOZ7Rq8
On a serious note have you even looked at the buyout offer? It might be something to consider, the offer might be decent and even if it's a break even it might help your employees to land on their feet as finding another job in this economy will take them some time.
Normally, I would take offense at this, but since you don't know me, I won't. With the benefit of hindsight, I think my biggest flaw as a business owner is that I have been too lenient, too generous and too optimistic over the years. That's probably why most of my staff has been here forever. It's a nice place to work, with above average wages, benefits and a very good pension plan. I believe that I am a good, supportive business owner in that regard.james t kirk said:
The "buyout" is really a merger, with me ending up in a minority position... hence it is essentially a buyout. Without disclosing the details, there are significant debt issues at the other company. Undoubtedly a merger would trigger a review of his banking agreements and could very well end up with the other company's LOC being pulled, putting him out of business. This isn't just my opinion, it is the opinion of my financial guy (a CMA) as well as that of a really smart consultant I use.
The other part of it is that most of my employees would not have jobs in this new operation. The whole point of doing the merger is to reduce overhead... plant, and people generally.
So in other words, the guy who stands to benefit this most from this is me, but in doing this deal, it might trigger the closing of another company. So your conclusion that I am "selfish" is in fact entirely wrong. My concern is that in doing this deal "for me" I would probably end up triggering a series of events that would end up putting perhaps 50 people out of work.
What I am trying to do is (a) look after myself and (b) look after as many of my employees and suppliers as possible. I just know that it's possible. Are there other buyers out there? Perhaps, but the industry I am in is in a tail spin. Over the past couple of years, I have spoken to at least 6 colleagues in the same business who are all having the same problems I am. In fact, we are probably in better shape than the majority of them...
JFK, thanks for the PM. I actually know that guy personally, and I think he might be worth chatting with.
Is it too early to start drinking? I've been up since 3:00 AM, so doesn't that make it close to happy hour?
Offer to sell the company to your employees.
You start a new holding company. That Company - Stoo Inc. owns 100% of your existing Company. You make yourself the majority share-holder - 51%, and the remaining employees the remainder. You don't charge the other share holders a dime to be owners.
Say there are 100 shares in the new company valued at $1.00 each. You own 51 shares and the remaining shares are distributed amoungst your loyal employees.
The new holding company is in debt to you personally - say for X million dollars where X is the net worth of the company as determined by an accounting firm of your choice.
As the new company generates profit, that profit goes directly to you to pay off the debt. Conversely, as the debt decreases, the new shares rise in value the corresponding amount. (Say after the first year.)
As such, you make your current employees owners and hopefully engage them in the process. The company lives on, but you get your money out as the new company generates profit.
Once the debt is paid, you still own 51% (so you've had control throughout time.)
Now, at that time, you decide whether or not you want to sell your remaining shares to the other share holders, or whomever, or stay on.
In this fashion, you don't screw anyone, you motivate your good employees, and you get your money out.
You start a new holding company. That Company - Stoo Inc. owns 100% of your existing Company. You make yourself the majority share-holder - 51%, and the remaining employees the remainder. You don't charge the other share holders a dime to be owners.
Say there are 100 shares in the new company valued at $1.00 each. You own 51 shares and the remaining shares are distributed amoungst your loyal employees.
The new holding company is in debt to you personally - say for X million dollars where X is the net worth of the company as determined by an accounting firm of your choice.
As the new company generates profit, that profit goes directly to you to pay off the debt. Conversely, as the debt decreases, the new shares rise in value the corresponding amount. (Say after the first year.)
As such, you make your current employees owners and hopefully engage them in the process. The company lives on, but you get your money out as the new company generates profit.
Once the debt is paid, you still own 51% (so you've had control throughout time.)
Now, at that time, you decide whether or not you want to sell your remaining shares to the other share holders, or whomever, or stay on.
In this fashion, you don't screw anyone, you motivate your good employees, and you get your money out.
Absolutely.
2 things that have made me say fuck it big time
1 being in business and having to deal with the unethical and those who will not pay for great service but expect it like you are their fucking slave
2 working in a non union environment
say what you will about unions but they do give the worker much needed rights unavailable outside a good union shop
workers' legal rights are often theoretical and easily broken
2 things that have made me say fuck it big time
1 being in business and having to deal with the unethical and those who will not pay for great service but expect it like you are their fucking slave
2 working in a non union environment
say what you will about unions but they do give the worker much needed rights unavailable outside a good union shop
workers' legal rights are often theoretical and easily broken
Dark Chimera said:
If I owned a shop, and the shop decided to organize, I'd close the doors regardless of personal cost and have the entire staff out on their asses before the first union meeting.
Just saying.
Hmmm... Worthy of a ponder. Fortunately it's the weekend... I always do my best pondering with a large glass of something in hand...JohnFK said:
I had a chat with one of my overpriced types this afternoon... He is also pondering this weekend. I gave him the choice of adjusting his income or resigning.
Monday should be interesting!
Welcome to the wonderful world of Wal Marta 1 player said:
So would I. I see your POV clearly. You got enough to do without dealing with a union, like staying competitive for example
It is the merry dance of capitalism - nothing to do with who is the nicest
I agree with Marx on this but I suspect he did not for see unions and workers legal rights as being the saving grace of capitalism - unsure what he had to say on this topic.
If a capitalist is forced to treat employees fair and with respect because the threat of unions, or the competition for workers with union shops, force them to, a lot of shops would vote down unions anyways as they cost the workers money as well in dues and strikes.
do what most of the internet buyouts do.Stoo said:
agree to stay for 3 years if he buys you out completely instead of being in a minority position.
so you become a 9-5 employee on a 3 year contract.
I would tend to agree ... Unless of course you're doing business with Kyra. Then I recommend saying 'fuck it' as much as possibleKyra_to said:
Kyra, I only say "Fuck It" in my inside voice. Although there's no question that my staff are aware that I am not happy with the situation. I've always operated in a pretty open fashion...Kyra_to said:
Actually the reason I say this is...Dark Chimera said:
It is MY shop, I spent the money to create it, I worked hard to build it, I manage it, I pay the salaries, and I retain the profits that are made from MY efforts.
A job is nothing more than a contract that a person will provide a certain amount of labor for a certain wage. If the employer is unhappy with the performance of the employee, he can terminate the contract. If the employee is not happy with the wage that they are being paid for their efforts, they can seek employment elsewhere.
It is when a union comes in and demands that they have a RIGHT to certain benefits, at a cost to the owner/shareholders of the company, that I have a problem. NOBODY tells me that they have a right to MY effort or money, regardless of the profits I make. Others, (my staff included) have a right to start their own company and be my competition, and the have right to drive me out of business if they are able. If I pay unfair wages and all my employees leave, then I have really screwed myself, haven't I? That is the way in which a free market economy 'should' work.
EXTREMELY well said player, and I COMPLETELY agree! Except you left out one small detail... on top of everything else you mentioned, the element of risk is also there. You are risking YOUR fortunes in YOUR business. When business fluctuates for what ever the reason it is your profit and loss statement that gets hit FIRST.a 1 player said:
Union demands can KILL a business- one only need to look at what the CAW is doing to the car industry for current evidence of this. Now I am NOT saying the the CAW is solely responsible for the current woes of their business, but it is most certainly a contributing factor.
I said fuck it last year
Started hobbying (as it is called), went on trip, starting treating various medical conditions and dating (hobbying and dating is the best of both worlds.... Best 69 ever while dating. only knew her 3 hours! ). I said fuck conventional thinking and that "be nice" bullshit that so many are trapped by, and said, "I'm gonna enjoy this ride for awhile!"
Never looked back. Life is awesome.
That's what happened when I said fuck it.
I think this post is off topic, but the subject line caught my attention.
Started hobbying (as it is called), went on trip, starting treating various medical conditions and dating (hobbying and dating is the best of both worlds.... Best 69 ever while dating. only knew her 3 hours!
). I said fuck conventional thinking and that "be nice" bullshit that so many are trapped by, and said, "I'm gonna enjoy this ride for awhile!" Never looked back. Life is awesome.
That's what happened when I said fuck it.
I think this post is off topic, but the subject line caught my attention.
I have been listening to friends (including you folks) and family and they are all pretty much saying the same thing: If I don't like what I'm doing, then change it. And in theory, I agree. I really only plan on working at a real job for about 7 or 8 more years, so I suppose that this is a good a time as any to begin that transition. I am not worried about my future (financial or otherwise) but doing what I want will have negative implications for my staff. I want to minimize this as much as possible, within reason.JohnFK said:
The easiest thing to do (for me) would be to simply close the company down. The "right" thing to do is to try to merge it or sell it and try to insure that my staff remains employed...
Was thinking the same thing....
Every once in awhile you have to learn to say "What the fuck!"JohnFK said:
