|
Chuck must be wearing shades.
![]()
bp
<part15sbs{at}gmail{dot}com>
On 6/14/2018 8:02 AM, Jay Weekley
wrote:
Sounds
like the future is bright.
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.
I presume the board of Beehive Telephone has stopped doing this
illegal lending activity. But what do you do now with Beehive
Broadband with horrible debt and the inability to borrow? I am
no longer an owner, shareholder or equity partner in any of
those entities. So they are in my rearview mirror these days.
-----Original Message----- From: Jay Weekley
Sent: Thursday, June 14, 2018 8:49 AM
To: ch...@wbmfg.com ; af@af.afmug.com
Subject: Re: [AFMUG] this list
How is Beehive Broadband doing from a business perspective?
ch...@wbmfg.com wrote:
Everyone needs to give a big thank you
to Paul McCall for hosting this list for almost 5 years. Paul
stepped up when I was in a pretty tight pinch.
Five years ago, I was given 30 days to get all my hosted stuff
off of my own company’s systems. Not cool.
I had payroll, time clocks, accounting, inventory management,
asterisk, NAT/SAN storage, web hosting, mailman, email,
database, CNC manufacturing network, solidworks server,
featurecam server and probably a few more.
I had previously been told that I would have to start paying
for this, I kept asking for a quote. Instead of a quote they
started corrupting my data. Started with the PDF files, then
the next day the Excel files, then the next day the word docs.
Funny thing, a little voice in my head told me to get a clean
backup. The very next day after the backup the corruption
started. Then instead of a quote I got an eviction notice.
Then at the end of 30 days they sued me. Which lasted for 4.5
years.
In the end, financially, I am very glad they sued me... still
not supposed to talk about it, they wanted it to be kept
confidential. You can imagine why. I also have a non
disparagement agreement that covers the company and the
employees.
Funny thing, a bit over a week ago those Beehive boys all got
fired.
Yep.
Those three clowns that I hired, that I gave equity to that
stabbed me in the back, helped to throw myself, the longtime
CFO and a bunch of other people out of the company, took over
our jobs and were the main actors in that lawsuit (they sued
most of the people that were defenestrated). (your word for
the day)
So, those captains of business and industry that have made my
life hell while showing me how it is done, showed me how it is
done I guess...
And since they are no longer employees my non disparagement
& confidentiality agreement I signed as part of my
settlement does not cover them!
I do NOT include Bryan Scott in this list. He was not one of
the three. He did not get fired. He quit about a year ago due
to many “problems” within the company. He is now a college
teacher. From my perspective he is the only one that didn’t
lie during the depositions.
So thanks Paul. And thanks to lots of people, many of you,
that supported me through that rough patch.
<http://www.avg.com/email-signature?utm_medium=email&utm_source=link&utm_campaign=sig-email&utm_content=emailclient>
Virus-free. www.avg.com
<http://www.avg.com/email-signature?utm_medium=email&utm_source=link&utm_campaign=sig-email&utm_content=emailclient>
<#DAB4FAD8-2DD7-40BB-A1B8-4E2AA1F9FDF2>
|
