Thursday, September 26, 2019

Business 101

Debt Shark

I am feeling the effects of a business transition gone wrong... my succession plan has become a casualty of the ever changing times in which we live.

Many years [ about 12 ish! ] of building a business was destroyed [ the vale of it] with Donald Trump's first venture in to foreign policy - his first visit was to Saudi Arabia and he asked them to pick sides and the sides picked pushed our host country into an alliance with Iran and with all the noise currently I think that will get worse before it gets better. [ People on the ground said it would fix in 6 weeks nearly 2 years ago - and that was before drone strikes on the Saudi Oil Fields ]

So what to do??

One of the strategies I have followed was to have all accumulated assets in someone else's [ the wife ] name so risk didn't mean losing everything. However, that has some strange "unexpected" consequences. Coffee becomes a decision when you are relying on cash flow to fund it but $10k's is just a computer click away... a speeding ticket [8ks over in a 60 zone by a hidden camera in a "open stretch" ] arrives in someone else's name and your integrity is questioned... it was just a fine - no points but Business 101 is to have no personal assets so that mistakes don't cost you your safe haven.

I understand that something you didn't incur, the person getting the fine, for example, is annoying BUT I have difficulty with the attached judgement sent my way... maybe I should never exceed any speed limit but seriously 8 k is a rounding issue and the fine is just taxation by stealth.

So my rant today is not about the blowback but that if you are in business, put your personal assets out of reach because the system attacks you because it can. A public servant [ don't fight Government because they normally win and when they lose nobody but you loses ]  who makes errors doesn't put his house on the line everyday!

An interesting aside... most people chased by debt collectors used to have EXCELLENT credit ratings until the wheels fell off [ and from personal experience ] often from NOT their fault.

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