At Least He's Honest. Would This Attitude Have 'Saved' Light Airplane Business??

"Denny" wrote in message
oups.com...
Love it!... Yes, if more businesses structured this way ATLA would have
to lower it's annual membership dues to stay in business...

True story:
Stanley, is a person I know well enough to be privy to the inside
information... He manufactures and markets custom audio products
(primarily stereo amps, CB audio equipment, etc.) for retailers to sell
under private labels... Got served with a subpoena with a claim for
damages: severe injury, defective design, can't get it up anymore, loss
of consortium, yadda, yadda, etc... Stanley advised the attorney and
the judge that the product could not cause any injury unless horribly
misused, that the offshore corporation which actually owned the product
(legally he was merely an employee) had no insurance and no assets, and
did not intend to appear for deposition or court... Got served
multiple notices to court which 'the corporation' ignored... The judge
awarded a default judgement of many hundreds of thousands of dollars
(Stanley was told later that judge was literally in a rage over being
ignored - no sense of humor, tsk, tsk).. At this point the plaintiff
must have seen the handwriting on the wall because he bailed out,
signing over his part of the 'windfall' to the attorney as payment of
his fee... When the attorney tried to collect he was again informed
that there were no assets... The attorney marched into the factory
with a squad of deputy sheriffs and a paper stating that he owned the
company...

Fine, the production foreman said, smiled, put on his coat, and walked
out... The majority of the workers took one look at the big city,
weasel, lawyer - who was standing on a crate and yelling that they now
worked for him - put on their coats and followed the foreman...
Within hours the attorney found that the building was leased on a
monthly basis (8 days left to the next lease payment, bubba!) - the
machinery was leased (ditto) - the employees were from a national
temp-labor company (ditto)... There was not a scrap of paper, blue
print, production manual, order sheet, customer list, bills, etc., in
the factory - all this was performed by a separate corporation and
transmitted to work stations in the factory... When the foreman made
a single phone call from his car as he left (computers were also
leased), the internet connection hung up and the attorney was left with
nothing but blank screens.. The machined/molded/stamped parts and
circuit boards were made in Taiwan under an exclusive contract to a
Bahamian Corporation and not available to anyone else... In the end
all the plaintiff's attorney got was a bunch of bills and and a few
dozen completed amplifiers; as the new owner under the law (heh heh) he
inherited the assets (essentially zero) and the liabilities (lease and
labor bills now due), and no way to manufacture new product...

Within weeks Stanley had another factory up and running under another
corporation, producing an identical line of amplifiers for his private
label customers...

Denny

Another one for Snopes.com although not quite as well-concocted or
believable.

Another one for Snopes.com although not quite as well-concocted or
believable
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Interesting how the real world is never neat and perfect, eh...
Cheers ...

Denny