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RE: Buy out...



> ...Maybe we should consider a restriction on the
> maximum
> we can afford to pay (ratio based on that months contribution) with
> a time
> limitation so that it doesn't drag on forever?   In which case, we
> would
> have to sell something to raise additional funds.  It doesn't feel
> right to
> me that we should have our hands completely tied for several months
> while we
> accumulate the necessary cash...   


If you think about how we're set up, our hands are not tied. The
money / stocks we're talking about belong to the departing member. We
can either sell his shares (he will incur the commission), or we will
buy his shares - which is what we usually do. There is no rule that
says we have to buy them; that's up to us. 

While I don't recommend it, we could sell all the member's shares (a
few of each stock). He would bear the cost of each sale, and walk
away with the money. We would have all our funds, including that
month's collections at our disposal to buy whatever we want.

I'm sure we'll be discussing this Sunday, I expect we'll arrive at a
compromise (selling some shares, buying some with our cash). I think
also (Nancy?) that it is a requirement that we all sign a new
agreement, which gives an opportunity to tweak that section.

-G


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