Would you trust the owner of a company whose first business was sold under
@littlefranciscan (18327)
United States
May 25, 2010 5:24am CST
Would you trust the owner of a company whose first business
was sold from under the feet of customers without much warning..?
How about if he told new customers coming in that he sold his
old company's data base but was keeping the company..
Then tax problems happen and he files bancrupcy and creates
a new business..
Would you want to trust a peron who doesn't take responsability for what
happens inside his company?
This is happened with the customers of a recently closed payroll company
... and the owner
has started another company.. not in payroll ..but has started a cleaning
company in the same state.
3 people like this
5 responses
@joey_matthews (8354)
•
4 Nov 10
I guess it really depends on the situation and how much comes into public knowledge. I would be wary but I wouldn't class them all as being bad businesses as sometimes owners aren't very good at making a profit. A similar thing happened with some banks over here and people still use that certain bank despite it being run by a guy who almost lost many peoples savings.
1 person likes this
@littlefranciscan (18327)
• United States
7 Nov 10
do they use the certain bank because it's the only one around ; or does
the guy hold their mortgage?
1 person likes this
@joey_matthews (8354)
•
7 Nov 10
Well I can only say about the one in my city but it's exactly that "one" in our city centre.
I think they've mainly got people with pensions but I know that they was one of worst for borrowing to people who couldn't afford the repayments. I don't like them personally but as and why people use them I will never know. Possibly because they offer low rates and try to tempt people *shrugs*
@frontvisions101 (16043)
• Philippines
25 May 10
I would. It doesn't dePend on what status his previous company has. I'm sure experts take note of that but there are times when the reason why he sold his company is because of financial growth. You'll be more suprised how often this happens.
1 person likes this
@littlefranciscan (18327)
• United States
25 May 10
FInancial growth or to unload unhappy customers..
@HADDOWZ (1469)
•
29 May 10
Unfortunately there are many very smart buisness men/woman who spend their whole working lives in specializing in doing just this. They buy, sell, and start companies under different names so no-one really knows their past history. The only people who prosper from this being themselves. They dont give a second thought to the new investors, employees, or customers. It's all a money game.
The rich get richer and the poorer get poorer.
Putting a company into administration bails them out of any possible liabilty, so other people end up suffering, creditors, suppliers, taxman, and customers.
@syankee525 (6261)
• United States
25 May 10
i really dont think i would. when it comes to do any kind of business with any companies i am picky.
1 person likes this
@littlefranciscan (18327)
• United States
25 May 10
IT appalls me knowing that the owner sold his company for 8 figures and then
files bancrupcy when crowds of clients begin to point out that he owes all
their tax money that was never filed.
He starts a new company and tells the rest of the former clients of the company
he once own..I have filed bancrupcy, you cannot get money from me..
It's completely wrong!
@picjim (3002)
• India
25 May 10
I would never trust such a person.From what you have said it appears that he will only siphon the money from the company to his private account.He probably would have sold the data base also for gain.I feel it is the licensing authorities who ought to take corrective action by checking the antecedents and disallowing such people from starting new companies.
1 person likes this
@littlefranciscan (18327)
• United States
25 May 10
I think it's awful that this is happening.. He first sold the company... to his
competition..Then when unpaid taxes, which was part of the service of the company,
started rolling in, he files bancrupcy.. So far there is over a couple million
dollars in unpaid taxes. .Businesses who trusted his company would pay the
taxes are left on a limb because he filed the bancrupcy .. which puts
a wall around his assets.. I feel that a business owner that does this
and goes on to create another business should pay back all those taxes
he left unpaid by the previous company.
