Any GIs Sold Their Businesses To DGIs? : LUSENET : TimeBomb 2000 (Y2000) : One Thread

Have been contemplating but just don't know.....Any feedback from those who have had to make this decision one way or the other???

-- Larry (, October 20, 1999


Answer: ALL OF THEM. Remember P.T. Barnum's dictum.

-- profit of doom (, October 20, 1999.

Yes, I'll fess up to selling a business that grossed close to .5 mil last year to a young associate who was totally briefed on y2k back in late 1998 and chose to believe the boss was a hysteric. (The young can have a bit of a problem with overconfidence and lack of respect for the experience of their elders). I had contemplated putting it on the open market but didn't feel right about doing that given what I believe.

I've had a nice vacation for 6 months now while the young energetic associate works his butt off and gets to know his new partners in business: The IRS, OSHA, State Rev, State Unemp., assorted insurance companies etc etc.

Payments have been nice and regular, but that will end. I don't have much doubt that I'll end up with the business back, and there won't be any point in pursuing a breach of contract in the backed up courts. Vacation for me, learning experience for him.

-- A Regular (, October 21, 1999.

Goldman Sachs Sees Gold

-- (, October 21, 1999.

Yeah, I think they know what they're doing...Believe they have their writ in a tinger on being short gold. Apreciate the link....but my biz is not "quite" that large:>)

-- Larry (, October 21, 1999.

I have given it serious thought. But I have come to the conclusion that should Y2K effects be mainly economic, I might be jumping from the pan into the fire. At least by holding on to my business I retain a good customer base, and a good reputation for quality work. I also avoid the chore of competing with scores of others trying to find employment, or trying to start another business during hard times. Time will tell if I have chosen wisely.

-- Uncle Deedah (, October 21, 1999.

I'm a GI that bought a business from a DGI. Spring water sales was core activity, but also came with acreage, remote location, grapes, fruit trees and great beauty. Seemed like a better idea than an electronic representation of money that may go "poof in the night".

-- I Got Water at the Spring (igotwater@the.spring), October 21, 1999.

Sure did. Got paid cash, but probably let it go for a lot less than it was worth. Oh well, I can start over anywhere. Didn't have much choice, since the family is all moving out of state. It is all about priorities and faith.

-- Jim the Window Washer (, October 21, 1999.

Moderation questions? read the FAQ