How would you best describe this business owner?

A family run printing company of 10 employees operates for 38 years with revenues of $2 million, survives through all the ups and downs, even in the bad economy. One of the 2 owners dies and the other is left with no choice but to sell the company. It's sold to a young businessman with no experience, he teams up with a printing franchise and they start telling him what to do. Within 3 months, the main pressman/mechanic father of 2, is laid off 2 weeks before Christmas on the basis on lack of work. Another well qualified employee is shifted into his position, and within a month, that employee too is laid off just a week before his vacation. Another employee with 20 years is left to run the Bindery, the pressroom, and deliver to customers. He and the remaining employees have their health benefits cut with 1 day notice, violation by CT law. but only enforceable if employees had any outstanding health bills. Checks start bouncing on a regular basis. Owner buys 2 cats and lets them run loose in the shop. Owner gets divorce papers. Owner gets non rent payment notice on his condo. Owner owes 4 months business rent Owner doesn't pay movers of equipment Owner doesn't pay franchise fees. Owes back taxes. 3 credit cards denied. Non payment of various outside services. Then 20 year employee father of 4 is cut 1 day before fathers day again by claims of lack of work. This person also overseen the billing statements income, and knew about all the operating costs and minimums required, and saw the company was still in the black. 1 week later, a different printing company, part of the same franchise but not related to the owner of the above printing company goes out of business, and the 4 or 5 employees are farmed into the above printing company to fill the positions. 3 more of the original employees are cut to make room for these others. So besides the initial question. Anyone else have family operations switched to Corporate horror stories? Actually, the previous boss stayed on as salesman, and had agreements that none of his employees would be traded. Does that change anything. Yes it is life, but so are the consequences of axing the very the people who are responsible for the customer base as well. You know what I mean? It is dishonesty basically scumbaggish to do something like that in my opinion, and thankfully all the customers contacted agree and won't be doing business with the guy. Actually, the previous boss stayed on as salesman, and had agreements that none of his employees would be traded. That was all part of the sale. Does that change anything. Yes it is life, but so are the consequences of axing the very the people who are responsible for the customer base as well. You know what I mean? It is dishonesty basically scumbaggish to do something like that in my opinion, and thankfully all the customers contacted agree and won't be doing business with the guy.

5 months ago - 1 answers