Potential conflict of interest? We’ve dropped this low?

Discussion in 'Politics' started by AugustaGator, Jan 17, 2019.

  1. AugustaGator

    AugustaGator Junior Member
    Lifetime Member

    Joined:
    Jun 12, 2014
    Messages:
    20,966
    Oxbucks:
    $6,615
    Ratings:
    +8,997 / -374
  2. Gator Fever

    Gator Fever Senior Member

    Joined:
    Jun 13, 2014
    Messages:
    23,818
    Oxbucks:
    $4,557
    Ratings:
    +8,622 / -383
    I don't see a legal issue with it.
     
  3. AugustaGator

    AugustaGator Junior Member
    Lifetime Member

    Joined:
    Jun 12, 2014
    Messages:
    20,966
    Oxbucks:
    $6,615
    Ratings:
    +8,997 / -374
    Fiduciary obligation to corporation is compromised.
     
    • Gator By Marriage

      Gator By Marriage A convert to Gatorism
      Lifetime Member

      Joined:
      Dec 31, 2018
      Messages:
      5,379
      Oxbucks:
      $8,351
      Ratings:
      +8,595 / -129
      As Jerry Seinfeld might say: "Neumann!"
       
    • Bushmaster

      Bushmaster Well-Known Member
      Lifetime Member

      Joined:
      Jul 27, 2018
      Messages:
      1,168
      Oxbucks:
      $1,877
      Ratings:
      +1,953 / -120

      Not unless the rents are above fair market.

      I do the exact same thing. I own the building my partnership rents from. This is actually the most common arrangement by far.
       
      • Concrete Helmet

        Concrete Helmet Hook, Line, and Sinker
        Lifetime Member

        Joined:
        Jul 29, 2014
        Messages:
        12,608
        Oxbucks:
        $6,781
        Ratings:
        +11,159 / -887
        Same here but our Partnership(investment company) owns the building our other business rents....
         
      • Politigator

        Politigator L-boy's Cousin
        BANNED

        Joined:
        Oct 5, 2018
        Messages:
        2,863
        Oxbucks:
        $984
        Ratings:
        +993 / -1,494
        Sure, for a publicly traded company or one with many shareholders it could very well be a conflict. For ansmall privately held with limited Coowners not really a big deal.
         
        • Like Like x 2
        • Dislike Dislike x 1
        • Stoned Stoned x 1
        • List
        • AugustaGator

          AugustaGator Junior Member
          Lifetime Member

          Joined:
          Jun 12, 2014
          Messages:
          20,966
          Oxbucks:
          $6,615
          Ratings:
          +8,997 / -374
          Exactly.
           
          • Bushmaster

            Bushmaster Well-Known Member
            Lifetime Member

            Joined:
            Jul 27, 2018
            Messages:
            1,168
            Oxbucks:
            $1,877
            Ratings:
            +1,953 / -120

            Not sure what part of fair rental value is escaping your attention. That has not been shown in this thread.

            Also, if this is a publicly held company, a financial statement audit is required. As part of that audit, related party transactions must be disclosed to include an assessment on the business reason for the transaction and whether the transaction is considered arms length.

            But please, do not let the fact that you are both talking out of your ass keep you from the outrage.
             
            • Detroitgator

              Detroitgator Well-Known Member
              Lifetime Member

              Joined:
              Jul 15, 2014
              Messages:
              16,266
              Oxbucks:
              $10,366
              Ratings:
              +17,077 / -101
              I do the same as you and Crete... i find the people that live in the land of theory vs. the land of actually amusing now... you, Crete, and I are running "schemes" and cheating the system by doing this... heard it here a million times from the land of theory people. ;)
               
              • AugustaGator

                AugustaGator Junior Member
                Lifetime Member

                Joined:
                Jun 12, 2014
                Messages:
                20,966
                Oxbucks:
                $6,615
                Ratings:
                +8,997 / -374
                This is public company vs private. They have public debt and planning on going public.

                In land of actual, this is how pensions get ****ed.
                 
                • Stoned Stoned x 1
                • Drunk Drunk x 1
                • List
                • Concrete Helmet

                  Concrete Helmet Hook, Line, and Sinker
                  Lifetime Member

                  Joined:
                  Jul 29, 2014
                  Messages:
                  12,608
                  Oxbucks:
                  $6,781
                  Ratings:
                  +11,159 / -887
                  Does that land of theory include interest paid, improvements, special assessments, restrictions, upkeep, ridiculous local fees for being in a Historical district, permitting fees to even wipe your ass, while keeping Environmental locals happy by NOT being able to pave more of YOUR property to accommodate required parking and paying code enforcement fines when you put rocks down instead :lol:.....Oh, I almost forgot about paying the property tax.....That sounds alot like the Land of "You didn't build that":lol2:
                   
                • Bushmaster

                  Bushmaster Well-Known Member
                  Lifetime Member

                  Joined:
                  Jul 27, 2018
                  Messages:
                  1,168
                  Oxbucks:
                  $1,877
                  Ratings:
                  +1,953 / -120

                  Nothing you posted matters. Companies have to have places to do business, someone has to own those places of business.

                  Pensions get screwed because they are defined benefit plans and companies can't afford them.
                   
                • AugustaGator

                  AugustaGator Junior Member
                  Lifetime Member

                  Joined:
                  Jun 12, 2014
                  Messages:
                  20,966
                  Oxbucks:
                  $6,615
                  Ratings:
                  +8,997 / -374
                  :crazy:

                  This has nothing to do we renting property. This is about arm's length transactions and pushing off long-term leases at the height of market.

                  Pensions get screwed because they get these BS leases that can't be sustained.
                   
                  • Stoned Stoned x 1
                  • Drunk Drunk x 1
                  • List
                  • Concrete Helmet

                    Concrete Helmet Hook, Line, and Sinker
                    Lifetime Member

                    Joined:
                    Jul 29, 2014
                    Messages:
                    12,608
                    Oxbucks:
                    $6,781
                    Ratings:
                    +11,159 / -887
                    Conversely if the company can't sustain profitability don't pensions get screwed too...
                     
                    • AugustaGator

                      AugustaGator Junior Member
                      Lifetime Member

                      Joined:
                      Jun 12, 2014
                      Messages:
                      20,966
                      Oxbucks:
                      $6,615
                      Ratings:
                      +8,997 / -374
                      They are supposed to be funded with other cash flows devices.

                      401ks are the next pension.
                       
                    • Concrete Helmet

                      Concrete Helmet Hook, Line, and Sinker
                      Lifetime Member

                      Joined:
                      Jul 29, 2014
                      Messages:
                      12,608
                      Oxbucks:
                      $6,781
                      Ratings:
                      +11,159 / -887
                      I'm certainly no expert but aren't all commercial leases usually long term...some between 20-50 years?
                      Most large businesses are in fact leaseholders themselves(not in the same name)....Ray Kroc was never really that interested in hamburgers...it was owning the real estate that was the goal....
                       
                      • Gator By Marriage

                        Gator By Marriage A convert to Gatorism
                        Lifetime Member

                        Joined:
                        Dec 31, 2018
                        Messages:
                        5,379
                        Oxbucks:
                        $8,351
                        Ratings:
                        +8,595 / -129
                        Reminds me of an old joke:

                        Kid: "Dad, what's the difference between 'theory' and 'reality?'"
                        Dad: "Well son, I'll give you a real life example. Go ask your mother if she'd sleep with the guy next door for a million bucks."
                        Kid (a few minutes later): "She said she would."
                        Dad: "Now go ask your older sister the same question."
                        Kid (a few minutes later): "She said she would too."
                        Dad: "Well, there you have it son."
                        Kid: "I don't understand"
                        Dad: "In theory, we are sitting on two million bucks. In reality we are living with a couple of whores."
                         
                        • Detroitgator

                          Detroitgator Well-Known Member
                          Lifetime Member

                          Joined:
                          Jul 15, 2014
                          Messages:
                          16,266
                          Oxbucks:
                          $10,366
                          Ratings:
                          +17,077 / -101
                           
                          • Detroitgator

                            Detroitgator Well-Known Member
                            Lifetime Member

                            Joined:
                            Jul 15, 2014
                            Messages:
                            16,266
                            Oxbucks:
                            $10,366
                            Ratings:
                            +17,077 / -101
                            (my comment wasn't really directed at you... ;) )
                             

                          Share This Page

                          The Box

                          Help

                          You don't have the necessary permissions to use the chat.

                            1. There are currently no users chatting.
                              • About Us

                                Our community sprung up when the Gatorsports message board was shut down in the summer of 2014. We pride ourselves on offering Gator-biased, yet critical discussion among people of all different backgrounds. We are working every day to make sure our community is the best Gator message board you will find.
                              • Like us on Facebook

                              • Buy us a Zima!

                                The management works very hard to make sure the community is running the best software, best designs, and all the other bells and whistles. Care to buy us a non-alcoholic Zima? We'd really appreciate it! Just click the "Donate" tab at the top of the page.