This Forum is not dying

[C'dale Girl]

Oh, yeah...I love the suburbs... I love reliving high school every day of my life...

I actually had a nice time with all the football parents...but there was one lady...the one with tattoos, like...gang tattoos, and four inch long fingernails with dollar signs on them...niiiiice...

Speaking of the "nice" suburbs, last weekend, my son had a baseball tourney in one of the tonier areas in STL...most new neighborhoods going up have houses starting in the 600's going into 1 mil plus..so it's quality people there

As in unsupervised, cash-loaded, druggies... We were visiting a friend out there between games (this is where I grew up) and he's got horses and a barn, etc, oh and 3 teenage boys...so anyway he's telling us about how he keeps catching kids partying in his barn, only they're like 18 yr old "kids" and bigger than he is, and the biggest guy had a showdown with him and refused to leave. So he went and called the cops, and had to point a gun at this guy to get him to leave. The cops come and they're like, well we didn't see anybody...

Anyway, he's like I'll show you, and we go out to his barn, and open the door and there's 2 kids right there smoking dope! And another one climbing his fence to get in...

Hey, I know that barn. We were planning on partying there after the high school reunion in a few weeks. Great, our plans are now foiled. (j/k of course)

 

[Crankyfeet]

Just because you have a minority stake in a business doesn't mean the other partner can do whatever he wants without regard to how it affects you.

So where do you draw the line? You mean I could have 10% of a company and have veto power over any capital decision made concerning the company by the other 90% shareholder?

You are probably right Bro... but I am just interested now in correcting my own misunderstanding if that's the case. In company law AFAIK, there is a procedure you need to follow (like convening a shareholder meeting... taking minutes etc.). If he skipped any of those steps... he is vulnerable AFAIK.

I appreciate that a lot of the law is "what a fair and reasonable man would do"... but I was always under the impression that the majority shareholder has the last say on matters (brought up in the procedural way). And selling off the assets would be one such example. Though it doesn't seem like he went through any meeting of directors.

Also... It's not clear whether it is a limited liability company... or a partnership. There are some differences I understand.

Please hoe into any errors... I'm only interested in learning here.

Malkmus might be helpful.

 

[C'dale Girl]

C...if you're still out there...we both know what happens when American girls hit the party...

(Forward to 6 minutes)
http://www.youtube.com/watch?v=DRjuXQPj_ow&feature=related

ciao, babies...

Funny. Well, it's after midnight here and us Americans will turn into pumpkins, so I best be heading to bed (for real this time; before was a joke for Cranky. )

Ciao ciao ciao.

 

[Crankyfeet]

Just because you have a minority stake in a business doesn't mean the other partner can do whatever he wants without regard to how it affects you.

Hmmm.... I found this Bro.... it is Illinois Law concerning a Delaware company I think.... but it seems to back up what you are saying...

I think you are right according to this... he does have a case. I apologize ... though the foot's in my mouth...


http://blog.shareholderoppression.com/2007/05/case-analysis-minor-v-albright.html

 

[TheDarkLord]

Nah... I hold my knife and fork in each hand when I eat... I drink more tea than coffee... I stay up after 10:30pm... I play sports more than I watch it... I don't get up at dawn... I still put "mate" on the end of every second sentence... I can catch a ball without needing a glove to do it... I don't cheat at golf... and I know where some other countries are located.

But apart from that... I'm similar to an American I suppose...

ROTFLMAO!

 

[TheDarkLord]

So, it looks like JTE is legit? Well, that makes things a little better since at least he isn't getting his kicks by taking us all out on a ride.

 

[jhuskey]

So, it looks like JTE is legit? Well, that makes things a little better since at least he isn't getting his kicks by taking us all out on a ride.

Ain't gonna happen, at least not with me.

 

[TheDarkLord]

Ain't gonna happen, at least not with me.

Well, I was referring to the big stories that he has built about himself - job in Houston paying around 60k, felony, 26k bike collection, etc. and now cross dressing...

 

[jhuskey]

Well, I was referring to the big stories that he has built about himself - job in Houston paying around 60k, felony, 26k bike collection, etc. and now cross dressing...

I ain't goin for a ride with. I don't think Shimano pedals are compatible with heels.

 

[TheDarkLord]

I ain't goin for a ride with. I don't think Shimano pedals are compatible with heels.

There was at least one person (on another forum) who installed cleats into pumps. Also, there shouldn't be any problems biking on platform pedals with heels. In fact, I see that on a daily basis here...

 

[C'dale Girl]

I ain't goin for a ride with. I don't think Shimano pedals are compatible with heels.

Lol, you make me laugh j. You have NO IDEA the amount of comebacks I had in response to his posts directed at me in that thread that I let slide . . .

 

[nns1400]

There was at least one person (on another forum) who installed cleats into pumps. Also, there shouldn't be any problems biking on platform pedals with heels. In fact, I see that on a daily basis here...

I just use this for commuting...

 

[C'dale Girl]

I just use this for commuting...

Bahahahahahaha

Almost spit my coffee out on that one. That's awesome. Pretty witty of you coming up with that one . . .

 

[TheDarkLord]

I just use this for commuting...

That gives the idea of commuting in high heels a whole new meaning.

 

[TheDarkLord]

Lol, you make me laugh j. You have NO IDEA the amount of comebacks I had in response to his posts directed at me in that thread that I let slide . . .

Why did you let them slide then? He could use some nice comebacks.

 

[Bro Deal]

Hmmm.... I found this Bro.... it is Illinois Law concerning a Delaware company I think.... but it seems to back up what you are saying...

It has to be general law everywhere. Otherwise a business with minority ownership would be next to impossible, or at least incredibly stupid to get involved in, because the minority owners would be totally at the mercy of the majority owners.

It seems to me that if Butthead cancelled the races, which are the only real asset of the company, he effectively destroyed the business, and according to the story there was no legitimate reason why he did so. The value of Ruoff's 40% just evaporated.

If he was willing to pay Butterworth $90K for his 60% then he must think his 40% is worth $60K. That seems really low to me. The $1500/month payment to Butterworth would have amounted to $18K a year. If Ruoff were to draw off even $2500/month for living expenses that amounts to $30K per year. Combined with the $18K that is $48K per year. A business that can throw off $48K per year should be worth more than $150K (ignoring time value of money) unless it is very risky.

Anyway, there is something here that does not make sense. By his own calculation he was rat ****ed out of $60K. He was screwed out of an additional $4k. Unless the real estate market differs from the current national one, he is likely to get raped when he sells his house. Yet he does not want to sue.

 

[Bro Deal]

I just use this for commuting...

I wonder what type of gas mileage that sucker gets. The aerodynamics are poor but it does look light.

 

[C'dale Girl]

It has to be general law everywhere. Otherwise a business with minority ownership would be next to impossible, or at least incredibly stupid to get involved in, because the minority owners would be totally at the mercy of the majority owners.

It seems to me that if Butthead cancelled the races, which are the only real asset of the company, he effectively destroyed the business, and according to the story there was no legitimate reason why he did so. The value of Ruoff's 40% just evaporated.

If he was willing to pay Butterworth $90K for his 60% then he must think his 40% is worth $60K. That seems really low to me. The $1500/month payment to Butterworth would have amounted to $18K a year. If Ruoff were to draw off even $2500/month for living expenses that amounts to $30K per year. Combined with the $18K that is $48K per year. A business that can throw off $48K per year should be worth more than $150K (ignoring time value of money) unless it is very risky.

Anyway, there is something here that does not make sense. By his own calculation he was rat ****ed out of $60K. He was screwed out of an additional $4k. Unless the real estate market differs from the current national one, he is likely to get raped when he sells his house. Yet he does not want to sue.

I only skimmed it and did not analyze or process all of the detailed facts. That said, based on your posts and his blog, it seems to me there is an argument for fraud along with the breach of fiduciary duty. Don't know enough about it though . . .

 

[jhuskey]

I just use this for commuting...

I hear high heels can make your ankles hurt and swell...... so does your butt swell up riding in this thing.

 

[hawkeye87]

I just use this for commuting...

LOL! That picture is priceless!