Hmm this is a response and a list test... You wonder where all that
$$ from the loans went to... I'd take even money that some of it lined
a few pockets through boosted salaries and such... yeah they probably
screwed themselves all the way to the bank..
On 6/14/18 8:26 AM, Seth Mattinen wrote:
On 6/14/18 7:58 AM, ch...@wbmfg.com wrote:
Well, they were in fear that I would end up running it again (I was in
legal control for the past couple of years but it was impractical to
actually take over, I just wanted the lawsuit to end). During
discovery we found that the highest point of owner equity occurred at
the point where they threw me out. And now they are upside down.
They acquired tons of debt. A friend of mine was told their strategy
was to drive the boat up onto the rocks so that if I came back I would
have a company with negative equity. In short, anything that is
financially detrimental to Chuck McCown was the strategy.
They had good growth and have plenty of revenue. But now they have
tons of debt service and a poor chance of getting commercial
financing. Beehive Telephone also sued Beehive Broadband for failure
to pay on intracompany notes (yep sued themselves) and then continued
to loan more money to Beehive Broadband, all parties committed lender
liability fraud.
That's hilarious. They thought they where going to fuck you over, but
instead dug themselves in a hole that's exclusively theirs.
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