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Showing posts from June, 2014

What Happened next?

I very much apologize for the spelling errors in the last post what can I say, it was stream of consciousness and laziness. I hate when people who don't spell things it drives me crazy!
So what did I do with the money? Well luckily, I am also a musician and creatively inclined. So what I started to do was create a brand and a look that wasn't foodservice it was multi-channel. Meaning if I presented this to anyone it was going to work based on the design. I was lucky enough to come up with a design and a look that would work in both segments, foodservice and retail. But then there was one big, I shouldn't say big, huge opportunity that I was presented to during this time. I wasn't even focused on it, but I knew instantly it would transform our company.
We had a connection to Trader Joe's. Yeah That Trader Joe's and I was told the buyer lived 2 towns over from me and was looking for a new opportunity! As you can imagine, I have heard the stories about Trader Joe…

So What Do You Do With Some Disposable Working Capital!!

SPEND IT! Well not really all of it but, you had better spend it on things that wil impact your business in a positive way or you're sunk!! Right?
So I micro-managed this place for now almost a year now, it's 1998 and it is time to sink or swim.
I had taken every punch from the bank, as a matter of fact that got worse, because they sold their bad loans to another bank, who was known for collecting, ruthlessly! you see that's what banjs do, guys. They write off loans on their books for tax purposes as losses and then turnaround and make money by, selling these loans in packages to other banks. It makes sense doesn't it? If you could buy a 6,000,000 dollar loan for $60,000, and then squeeze out $80,000 maybe $100,000 at the end of the day, wouldn't you do it? I would. Ultimate arbitrage right?
So, here I was With $250k that the new bank couldn't touch nd they probably bought my loan for $25,000. You don't think I knew that?
You are so wrong if you didn't…