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Thread Derailed Completely

"Nepotism is kind of a factor of life. You might be here because of nepotism, but you're not still here because of nepotism,”
 
Deacsfan27 said:
Those are just details man.

All I saw is that you got handed a business at 26.
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And my stockholders were damned lucky that happened. I made them a lot of money over the years.

(And so were my employees. I increased pay, benefits and put a matching 401K plan in during 1984, not long after it first became available.)
 
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It's like Trumps business claims where if he had just put the gift money in a market account his net worth would be double what it currently is.
 
bobknightfan said:
Also, nobody "gifted" me anything. I worked there unloading trucks and learning the business during the summers when I was in college. Then after graduating I wasn't given a job there. I started on a job with Burlington Industries at $610/month. I only went to this business when my father-in-law asked me as his health got worse. And I earned everything I made. I was given no stock....ever...in the company. I was paid a salary plus incentive bonus based upon profits. The company was doing $500K of business when I got there and I built it up to $2.5M when it was sold. And since I didn't own any stock, I didn't get anything from the sale, either. (I did get 18 months of extended salary from the buyer for signing a 3-year non-compete clause...as I could have otherwise gone to a competitor and taken much of the company's business.) Furthermore, the family only owned 50% of the business. My father-in-law had a silent 50% owner in the business who was not involved in the business operations but had the necessary credit to allow the business to get started years earlier. (The nature of the business involved significant equipment expense and my father-in-law needed this partner to borrow the money to get the business going & expanded.) He should have had a buy-sell agreement with this other owner, but he never had one, so the guy got 50% of the profits for all those years for a relatively small initial out-of-pocket expense.
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Congrats on not fucking up the business that was handed to you. Sucks you father-in-law didn't love wife enough to leave her his share of the business.
 
bobknightfan said:
Your math works different from mine. The way my math works, $2.5M is 5x $500K.
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I guess there was no inflation between 1973 and 1992? I wasn't an Econ major, but I believe that $500k in 1973 would have been worth north of $1.5M in 1992. Anyone want to doublecheck my math?
 
Deacfreak07 said:
I guess there was no inflation between 1973 and 1992? I wasn't an Econ major, but I believe that $500k in 1973 would have been worth north of $1.5M in 1992. Anyone want to doublecheck my math?
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Fair enough. I will cede that point to you.

Still think I did a pretty good job. Took over just as the Arab oil embargo was roiling things and inflation was becoming a huge problem. Our business (industrial food service) involved about 18 fleet vehicles that were seeing fuel prices explode and the cost of vending machines and products were extremely affected by rising fuel costs....while competition impacted our ability to raise prices to cover the exploding costs.
 
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bobknightfan said:
Fair enough. I will cede that point to you.

Still think I did a pretty good job. Took over just as the Arab oil embargo was roiling things and inflation was becoming a huge problem. Our business (industrial food service) involved about 18 fleet vehicles that were seeing fuel prices explode and the cost of vending machines and products were extremely affected by rising fuel costs....while competition impacted our ability to raise prices to cover the exploding costs.
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Nice. Similar to youths like BillBrasky, you did something positive with the things that were given to you!
 
RChildress107 said:
Congrats on not fucking up the business that was handed to you. Sucks you father-in-law didn't love wife enough to leave her his share of the business.
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He did leave her his share of the business, which eventually went to her two daughters. All I did was run it for her. She was only interested in being a "Mom" and was never active in the business. By the way, she lived with us for almost 40 years, from August, 1977 until she passed away at the age of 97 on January 13th.
 
So all the bullshit you talk about being self-made is just a bunch of malarkey

Sent from my SM-S903VL using Tapatalk
 
ChrisL68 said:
So all the bullshit you talk about being self-made is just a bunch of malarkey

Sent from my SM-S903VL using Tapatalk
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I don't remember saying anything about being "self-made". I'm not even sure what the term means. All I do know is that I started work at 21, a month after I graduated from WF, and didn't stop until I was 68. (Actually haven't completely stopped yet.) I wasn't still going to school with no income to pay for it at the age of 25, 26, 27 or 28.
 
RChildress107 said:
Your understanding of sarcasm is worse than your understanding of character. BKF was being mocked for plenty of reasons, his father in laws untimely death clearly wasn't one of them.
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Two facts here. First, a man who died at 62 years old in 1973 lived a very long life compared to his birth cohort. Second, jhmd2000 continually mocked the death of my 16 year old cousin.

http://www.ogboards.com/forums/show...on-MO)?p=2132408&highlight=cousin#post2132408

I specifically told him my cousin was killed in Chicago, but he kept using his ridiculous argument that I and others don't care about Chicago deaths because we care about police violence. It's one reason I finally had to put him on ignore. Makes no sense to waste time arguing with somebody like that.



bobknightfan said:
I don't remember saying anything about being "self-made". I'm not even sure what the term means. All I do know is that I started work at 21, a month after I graduated from WF, and didn't stop until I was 68. (Actually haven't completely stopped yet.) I wasn't still going to school with no income to pay for it at the age of 25, 26, 27 or 28.
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Because you didn't need to go to school in order to get a good job. You got one handed to you.

I'm still laughing that you tried to take credit for inflation. That's a good one.
 
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Sorry Professor, but this isn't your classroom. You might get challenged when you launch a baseless accusation. Like that one, for instance. Link fail. I will leave it to the audience to determine if you have the evidence to support that charge.
 
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bobknightfan said:
I don't remember saying anything about being "self-made". I'm not even sure what the term means. All I do know is that I started work at 21, a month after I graduated from WF, and didn't stop until I was 68. (Actually haven't completely stopped yet.) I wasn't still going to school with no income to pay for it at the age of 25, 26, 27 or 28.
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How many posters do you think fit that description?
 
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