How much do you need your pay check?
If you live week to week, run now.
If you can absorb a bounced check stay and pray.
If you live week to week, run now.
If you can absorb a bounced check stay and pray.
When your Company Files Bankruptcy
What do you do?
Beacon Plumbing filed Chapter 11 today. It will take a bit for proceedings in the court system but my tools are on the truck. the owner will not shut the doors and I hope my gut feeling is good to trust the Man that has been too good to me for 6 years. But the court system scares me to death they can confinscate the whole lot. When do you pull your tools?
Beacon Plumbing filed Chapter 11 today. It will take a bit for proceedings in the court system but my tools are on the truck. the owner will not shut the doors and I hope my gut feeling is good to trust the Man that has been too good to me for 6 years. But the court system scares me to death they can confinscate the whole lot. When do you pull your tools?
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I remember my younger days of training in the Navy...I was part of the scuttling crew. That meant I was going down with the ship when she sank. I soon found my self in a job that I was doing more of the directing and made the call to either get in and save it or pull the cork and run like hell.
For you, I think this might be the time to pull that cork.
For you, I think this might be the time to pull that cork.
If he's treated you good for 6 years, don't you feel some responsibility to stay and try and help the guy?
Even in bankruptcy, your tools are yours. The court can only confiscate business assets and possibly the owner's assets.
Even in bankruptcy, your tools are yours. The court can only confiscate business assets and possibly the owner's assets.
While I do agree with you. I believe the court will take it all and sort out what belongs to whom later.If he's treated you good for 6 years, don't you feel some responsibility to stay and try and help the guy?
Even in bankruptcy, your tools are yours. The court can only confiscate business assets and possibly the owner's assets.
It will takes weeks if not months to recover your tools after they are "frozen".
The repo man is not gonna stand there and wait with the truck on the hook so you can get your stuff out.
That's a shocker. Do not worry about it, though. He's as aggressive as an owner as there ever was. Hang with him. And your tools are safe because Chapter 11 is a "reorganization of finances".What do you do?
Beacon Plumbing filed Chapter 11 today. It will take a bit for proceedings in the court system but my tools are on the truck. the owner will not shut the doors and I hope my gut feeling is good to trust the Man that has been too good to me for 6 years. But the court system scares me to death they can confinscate the whole lot. When do you pull your tools?
What you forgot to tell everyone is that he was busted for using unlicensed plumbers. I mentioned that in a post recently...$20,000.00 in fines in 2008. That scandal was on the local new stations for weeks.
You have to play by the rules all the time. I'm going to tattoo that on my forehead.
I thought you would be able to move your tools before the actual hearing date. Is this not the case?
Now that the whole truth has come out - are you comfortable with a company that knowingly stiffed YP cos.?
Now that the whole truth has come out - are you comfortable with a company that knowingly stiffed YP cos.?
I do believe from what I have read overnite They won't take any action until the first plan hearing if anything. Problem is I found out from the paper not the boss I do not want to find out from the paper they confinscated the lot before I can get my stuff out. I can see a month of hassle to get my stuff.I thought you would be able to move your tools before the actual hearing date. Is this not the case?
Now that the whole truth has come out - are you comfortable with a company that knowingly stiffed YP cos.?
Am I comfortable, have you done biz with Dex? Dex is getting what they reap for now. the rest of it, No I am not. The economy took a turn the plan didn't take into account in the smallest of ways and that is bad planing. Bill the owner makes some real whacky moves day to day, But dam this Co went from 6 plumbers 5-6 years ago to 80 employees in the field in 2008 so I do not get to see alot. What I do know Bill will stand with and for all of his guys. By filling Bankrupcy it might not be in his hands for much longer and that makes me uncomfortable.
I could go into why we got singled out in this market but we were in the wrong.That's a shocker. Do not worry about it, though. He's as aggressive as an owner as there ever was. Hang with him. And your tools are safe because Chapter 11 is a "reorganization of finances".
What you forgot to tell everyone is that he was busted for using unlicensed plumbers. I mentioned that in a post recently...$20,000.00 in fines in 2008. That scandal was on the local new stations for weeks.
You have to play by the rules all the time. I'm going to tattoo that on my forehead.
Yea we got nailed for reason. I do Not in anyway agree with the actions the company took at that time. there are reasons we did what we did but they were illegal and we all continue to pay for it.
I may be wrong but I'd bet we all had a bit of supervision not 75%. I rode with a Licensed plumber for a year and that was it, on my own since.
If the IRS gets involved, you have no choices, no way to get anything.
I was dealing with a sports shop that I would deliver my t-shirts to get printed, then they'd do the work and I'd pick them up.
Guy called me up and as a nice gesture, told me to get my stuff because once they seize everything, you'll never get it back.
Don't think for a minute that the IRS isn't aware when a business files bankruptcy. They are the first ones to lock up bank accounts, seize property because they want to make sure the liquidation goes in favor to them first...and just because someone is pointing fingers and saying hey that's mine, it doesn't pan out that way. You find out when the dust settles, and even then, you might as well cut your losses.
I'd bail, get your stuff and tell him you see him on the dark side. :laughing:
And here's the bad thing folks,
Anytime a business goes under...there's going to be a plumbing supply house usually taking it on the chin in upaid materials. So when the price of that material goes up.....that's a partial reason for it.
I was dealing with a sports shop that I would deliver my t-shirts to get printed, then they'd do the work and I'd pick them up.
Guy called me up and as a nice gesture, told me to get my stuff because once they seize everything, you'll never get it back.
Don't think for a minute that the IRS isn't aware when a business files bankruptcy. They are the first ones to lock up bank accounts, seize property because they want to make sure the liquidation goes in favor to them first...and just because someone is pointing fingers and saying hey that's mine, it doesn't pan out that way. You find out when the dust settles, and even then, you might as well cut your losses.
I'd bail, get your stuff and tell him you see him on the dark side. :laughing:
And here's the bad thing folks,
Anytime a business goes under...there's going to be a plumbing supply house usually taking it on the chin in upaid materials. So when the price of that material goes up.....that's a partial reason for it.
I should mention the above only applies to companies that are heavily behind on taxes.
If you're current, they are not even a concern.
If you're current, they are not even a concern.
When is the auction? I want to put in a bid on that speed boat.:jester:
Are your hours booked and everything licensed? This is the reason that shop should be union. The union keeps everything focused and you'd be surprised at the "suggestions" the other union members have when things get weird.I could go into why we got singled out in this market but we were in the wrong.
Yea we got nailed for reason. I do Not in anyway agree with the actions the company took at that time. there are reasons we did what we did but they were illegal and we all continue to pay for it.
I may be wrong but I'd bet we all had a bit of supervision not 75%. I rode with a Licensed plumber for a year and that was it, on my own since.
The company's not dead and it would be a good time for the senior employees to step up big time. There aren't jobs out there that pays like he does, kid. Help him through this.
What I would do,ask what plan they have.is plumbing the only service they do?More service more work.you could take your tools at the end of each day.about staying with him,I would have a back-up job to go to.just be honest with him about your feeling and he should be honest with you,good luck
Well, the first thing that has to happen is the owner will go to court and face his creditors. He has to have a plan and the creditors have to agree to allow him to continue his business under the new plan. If he makes his payments to the court as planned then he can keep his doors open. Is the truck you drive paid for free and clear? Do you take the truck home? If so you will be able to get your stuff out. just keep your tools neat and easy to remove if the time comes.
Yes, but a receiver will automatically grab everything, and it will be up to you to make a claim and PROVE what is yours. It will not be pleasant.Even in bankruptcy, your tools are yours. The court can only confiscate business assets and possibly the owner's assets.
I don't know anything about this Beacon situation. If they are planning a reorganization, then obviously some arrangements will have to be made to allow people to keep operating the trucks and not feel their personal tools are at risk. If the company doors are not closed yet , you need to have this discussion right away.
Some years ago, I had ordered a part for my truck...I think it was a headlight switch or something, under $100. Between the time I ordered and paid for that, and went in to pick it up ( this was only a matter of a week or so), the dealership went under...doors sealed. There was a phone number for the lawyer, I called and said I want my switch...they said get in line. I am still in line ( since 1999!)....
The Comment Section over at the Times heated up. In one post the Beacon owner (allegedly) said that he did 20,667 jobs a year, averaged over that last 3 years. http://community.seattletimes.nwsou...ay.php?source_name=mbase&source_id=2008982455
Even if he's lying by half, that's alot of work. $124,000.00 in service charges alone.
Even if he's lying by half, that's alot of work. $124,000.00 in service charges alone.
not a lie at all. 15-17mil 2007 12mil in 2008. 40 trucks 8am to 11pm average hours. We work hard and got paid good.The Comment Section over at the Times heated up. In one post the Beacon owner (allegedly) said that he did 20,667 jobs a year, averaged over that last 3 years. http://community.seattletimes.nwsou...ay.php?source_name=mbase&source_id=2008982455
Even if he's lying by half, that's alot of work. $124,000.00 in service charges alone.
Soooo sweet. I wonder if he needs a GM? Is his ego small enough to accommodate mine? :laughing:not a lie at all. 15-17mil 2007 12mil in 2008. 40 trucks 8am to 11pm average hours. We work hard and got paid good.
Seriously.
You stay in touch about this b.k. It affects the whole region.
It seems like the only fair thing to do is to have Obama bail the Plumbing Company out. This way the phone book can continue to make ridiculous profits, the owner can continue to make reckless decisions and we can all back his mistakes.
I am starting to better understand the new meaning of the word "free" in the "Land of the free" and it has little to do with Freedom.
Mark
I am starting to better understand the new meaning of the word "free" in the "Land of the free" and it has little to do with Freedom.
Mark
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