Quote:
Originally Posted by Seahawk
So, just to be clear, a business is offered money to sell and accepts it and folks here think it is the buyers fault, the buyer is to blame?
Here is an idea, you partner with the company, buy the company that is for sale or convince them not to sell.
Or not, blame the buyer.
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If the seller had a choice of whom to sell to or whether to sell at all, I would agree there is some amount of responsibility on his shoulders.
But we don't always have a choice - or the choice is too economically devastating to consider.
I'm at an age where I have known more than a couple of business owners who were ready to sell out and retire. If you own a business, retiring isn't like handing in your resignation and going to the beach. A good portion of your net worth is wrapped up in the business, and you need to liquidate that value to have money to retire on. We are in the checkout line in the supermarket of life. Our produce is beginning to rot. Our meat is shrinking and turning gray. We don't have forever to find the right buyer.
I was a 65 year old owner of a company I had been running since 1988. I was sick of it, ready to retire, and couldn't find a buyer.
By age 70, if my only choices were to fund a retirement by selling to a PE outfit and watching them put it out of business, or closing it down myself, retiring, and living on Social Security I would sell out.
And that makes it
MY fault the buyer is a dick?