Zorro
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- May 2, 2012
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**SNIP**
One of the more puzzling aspects for me (ditto those with whom I've discussed it) is why two business partners would hand over $300,000 -- and then exit the business? Why? They'd been partners in the business since 2008. More than anyone, they'd know the shape that business was in by the time they parted with $300,000. They would have known the calibre and acumen of the individual to whom they were lending such a large sum of money and presumably would have known reasonably well the chances they had of retrieving that money. They clearly didn't want to stick around to safeguard their investment, surely? So why would they hand over the money and head for the door (same day, according to the media reports)?
I read that as a sell-out. Partners say to GBC this is not going well, buy us out. He says the bank won't lend. OK, we transfer the whole business to you and you owe us $300k. They leave.