Buying out the other director

[Paddy]

One thought that did cross my mind was if he turned nasty afterwards.....I don't think he would but it's still in the back of my mind and I fear for the safety of my wife and kids.

Highly unlikely anything will happen as he would be the first suspect. Any sign of trouble, get the solicitor to warn him and then slap an injunction him. (not that costly)

[Scrag Meister]

The love of money is the root of all evil.

Shame someone would jeopardise a friendship to get a few quid.

Priorities wrong there me thinks.

[EternalOptimist]

One thought that did cross my mind was if he turned nasty afterwards.....I don't think he would but it's still in the back of my mind and I fear for the safety of my wife and kids.

there are usually very good reasons why the people who you remember from your past, dont make it to your present or future

[Sands of Time]

there are usually very good reasons why the people who you remember from your past, dont make it to your present or future

Thought for today?


Bing!

[EternalOptimist]

Thought for today?


Bing!

by their fruits, shall ye know them

[conned tractor]

The love of money is the root of all evil.

Shame someone would jeopardise a friendship to get a few quid.

Priorities wrong there me thinks.

Exactly, he even said it's not exactly fair you having two salaries, whilst i'm here slogging my guts out (read doing half a job, not getting out of bed and reliant on anybody that will help to complete anything technical - including creating a spreadsheet , ) greed eh.

On the other hand, why should I get two 'salaries' . I have created the product, the equipment to produce it, I have run around the country picking up parts/equipment hiring lorries to pick it up (paid for personally again). All other technical aspects have been dealt with by me. My father helped me out building the equipment. My wife has dealt with the suppliers (originally would have been nice for him to pick this up). My mother and brother have helped with some initial production, to provide samples, and to see now what can be improved in the processes (he did attend these sessions but I'm heavily reliant on my brother who does have a bit of technical nouse. My brother and his mate built the office. I rewired and replumbed the unit. My brother supplied all IT and built the website and forum (no holidays please) but is waiting for the content to go in it (I'll let you guess). He, the other partner, had promised someone a poster, so he got onto the graphic designer, had him make it who email it back and then emailed this to me as he can't use the printer (reasonably high end epson, but not that difficult) asking for me to do x copies, he's bought the paper and it's on the desk. Sorry, ranting again.

The initial reason for going into business with him was to help him out a bit, which required a bit of leg work on his part, and some basic administration. I left the business plan to him deliberately, I know what the financial analysis looked like as I had done it myself seperately and even discussed my analysis with him, but witheld this information deliberately because I needed him to do it and understand it. When asked about it (another angry exchange) he retorted with comments like, I only understand big business financials, GPs and all that, but couldn't, or didn't want to, break down the unit price, take away from the sale price, multiply by a volume over time, take away the fixed costs and operating costs and provide the profit (simple common sense calcs). He also upsold to provide an extra service which would have created at a loss, i.e. cost us money and then got heated again that we're doing something f00king wrong.

I've just sent the email to the solicitor to act on my behalf, an additional cost but removes me personnally from the situation. The further plan is to take on the unit, as temperary storage for the equipment if nothing else, let the dust settle and then decide what to do, either selling on the equipment or picking it up at a later date, pending of course what happens.

What he doesn't realise is I'm quite happy to let it all go, contracting isn't that bad and continues to keep me and my family in a reasonable comfort.

I feel a bit like I'm, what's that saying again, washing my dirty laundry in public. I will probably have to keep anonimity after this whereas I originally wanted to reveal the product and even ask for reviews of it from some of you other members. We'll see, it will also reveal my personal details. Maybe I should team up with the writing skills of EO (although we haven't had a story for a while ) and publish a book on "how to inadvertantly screw over a business partner" or "how to screw yourself over in business" from the other perspective.

Then again, it could all be walty mitty. Anyone seen my tornado.

[lukemg]

Have followed this thread with interest. Really admire anyone in this game who is prepared to strike out like this and try to get something else up and running, you have clearly put a lot of effort and money into this.
Wish I had the hunger and drive to do something similar. This looks sortable so I hope it is and you can come out of it ok.

[conned tractor]

Scrap, scrap, scrap

UPDATE - By the string of semi*-abusive (*not life threatening) text messages i've recieved directly and indirectly (members of my family passing on messages ) I think it's safe to assume he has recieved the solicitors letter. The last text I got even implied that he'd tell my wife of some of the things I've got up to over the years - yes, I haven't always been a good lad when in my 20's and he's got some dirt on me (I am a good lad now though, honest gov'), but I think he's just grabbing at straws. He'd be a dick if he tried it, we'll see. My family is the most valuable thing I have.

I've told him to seek 'real legal advice' and to keep future communication formal.

Looks like he wants to scrap though, ah well, could do without it myself. I still don't think he realises I didn't need any of this in the first place - just trying to create a job for him and a bit of extra pocket money. Incompetent moron.

[Cliphead]

UPDATE - By the string of semi*-abusive (*not life threatening) text messages i've recieved directly and indirectly (members of my family passing on messages ) I think it's safe to assume he has recieved the solicitors letter. The last text I got even implied that he'd tell my wife of some of the things I've got up to over the years - yes, I haven't always been a good lad when in my 20's and he's got some dirt on me (I am a good lad now though, honest gov'), but I think he's just grabbing at straws. He'd be a dick if he tried it, we'll see. My family is the most valuable thing I have.

I've told him to seek 'real legal advice' and to keep future communication formal.

Looks like he wants to scrap though, ah well, could do without it myself. I still don't think he realises I didn't need any of this in the first place - just trying to create a job for him and a bit of extra pocket money. Incompetent moron.

Make sure to keep all those communications in some tangible form.

[TheFaQQer]

Might be worth keeping a copy of some of them - demanding money with menaces etc. might come in handy at some stage.