The good news is, Ty Coon is a billionaire. The bad news is, Ty Coon recently turned 98-years-old and is sick…very sick. In his younger years, Coon amassed a billion dollar fortune as the owner of an international Mexican fast food chain. While Coon always found time for tacos, he never had time for sophisticated
Protesting Property Tax Valuations
By Jamie Ribman on
Posted in Money, Property Issues
Ward and June recently received their property valuations from Comfort County. Their broker son Beaver Cleaver told them that, because county property valuations are intended to reflect the market value of the property as of January 1 this year, widespread foreclosures, declining building permits and high office vacancy rates should send Comfort County property values…
Complying with Bank Loans
By Jamie Ribman on
Posted in Money
A year ago Standup Stanley bought Hotel 8 Properties. Stan’s banker Betty Maekit-hapen was able to get him the purchase money and an operating line of credit loan from DaytonaMac Bank. Hotel 8 was able to use its valuable Arizona real estate and cash flow as collateral without Stan’s personal liability so long as Hotel…
Entertainment Business Tax Expenses
By Jamie Ribman on
Posted in Legal Risk Management, Money
Snidely Whiplash, a personal injury lawyer, was trying to get business from his friend “Attila” who is a chiropractor. Attila’s common law wife Hun loves mud-wrestling matches. “If I could arrange something to please Hun,” thinks Snidely, “surely Attila will send me some business!”
Snidely learns that the world mud wrestling playoffs are coming to…
Debt Collection Tactics
By Jamie Ribman on
Posted in Money
With times getting tougher, Greeda Greenshade at ShortCircuit City noticed that her customers were paying their invoices much later. So, Greeda hired an outside firm StrongArm Collectors to collect the aging receivables. ShortCircuit did get a little concerned, however, when one of its best customers Delia Dish called to complain about StrongArm’s collectors who left…
Returning Preferential Payments to the Bankruptcy Court
By Jamie Ribman on
Posted in Money
Recently Cash Crash met a CFO of a large computer software company on a plane. The CFO was beaming because he just collected a $1 million receivable from GIA – money that would not have been paid without the economic bailout. Cash Crash asked the CFO if he considered the possibility that his money may…