According to the March 31 News & Record, a group of local businessmen acknowledges owing Greensboro $200,000 for managing the Greensboro hockey team. The article goes on to say lawyers doubt the money will be repaid because the group has no assets.
These are successful businessmen who have done much for the city. I am sure their intentions were good when they tried to save the team. But I am tired of legal maneuvering that allows people to walk away from their obligations and leave us to pick up the tab.
These are presidents and owners of successful companies in our city. The amount of $200,000 divided equally makes it $40,000 each. To them, that's really not that much money.
So my request is simply this: Do the right thing. Pay the money you admit that you owe.
I'm sure they are aware of how public opinion affects business, so once more -- do the right thing.
Thomas P. Martin
Greensboro
Comments (9)
Question to the Attorneys out there: If the "group" has no assets, couldnt they be sued individually? Is this a class action lawsuit kind of action? We KNOW they have assets individually...
Posted by Lilly | April 13, 2005 8:31 AM
Until they do, boycott their businesses. The only way these guys are going to 'do the right thing' is if they have a little painful encouragement.
I guess I need to set up a corportation and spend money like crazy on whatever my interests are. Then I can just claim that the corporation is bankrupt and walk away.
Posted by mr t | April 13, 2005 8:32 AM
Like the robber barons of the late 19th and early 20th century this is how they have made their riches, on the backs of others.
Some would call it shrewd business, I call it as it is, theft.
Posted by mrproduce | April 13, 2005 9:40 AM
Lilly, if the business is set up as an LLC or "Limited Liability Corporation", the individual assets of the owners are legally protected if the corporation goes under. I think this is how the hockey group was set up. Individually the owners cannot be held liable for the company's obligations.
That doesn't mean they shouldn't be ethically required to pay since I think they are probably monetarily secure enough to do so. Until they come around, I think boycotting their personal businesses is the best way to voice your displeasure.
Posted by Kehaar | April 13, 2005 10:40 AM
Boycotting it is. Please list which businesses and who owns them for those out there who are not in the know. Thanks.
Posted by Lilly | April 13, 2005 11:44 AM
The only ones of which I am aware, Lilly, are Bill Black Automotive, Brady Trane (Heating and Air Conditioning) and Libby Hill Seafood. That knowledge comes from following this topic in the media and a little personal research. I think there are two other business owners involved, but I can't remember names or what businesses they run.
Posted by Kehaar | April 13, 2005 12:41 PM
No problems boycotting here! No Cadillacs or Oldsmobils, HVAC people are a dime a dozen and who wants to eat "seafood" at that dump.
Posted by Eric Jones | April 14, 2005 8:01 AM
As someone who has known the Conrad family most of my life, I can honestly say classifying Libby Hill as a dump is unfair and without merit.
It is your choice to not support their business or any other business. Calling names of fine people like Ken and Luke Conrad (boy, that man was really nice to me when I was growing up) is simply not called for.
As for the Generals, you can place that blame right on the doorstep of the one and only (thank goodness) Matt Brown.
He had enough sense to know the Generals thing wasn't going to work almost from day 1. He did this in his great scheme to rid the Coliseum of any local afoordable entertainment in that building,
Posted by Michael Bondurant | April 14, 2005 7:43 PM
I disagree that Libby Hill is a dump. I happen to think it is a good value for your money. Unfortunately, the Generals weren't.
Posted by MR T | April 15, 2005 11:24 AM