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I think this is a great way, you are keeping the business open and your employees get trained on how the business is run. I know it would be hard for me to sell, after putting your blood sweat and tears into a company just to have it broken-up.
I want to commend the Select Machine owners for not selling and letting it get broken up just for the client list. It’s nice to see that people are actually looking out for their employees. Most companies now a day have no loyalty to their employees.
I once worked for a non-demolition company way back when that could have benefited from this approach. The owners were getting older and wanted to retire, but several potential buyers wanted to break it up and take the client list and sell off all the equipment. The owners did not want to do this because of the time and money they had put into the business, unfortunately they could find a buyer that would not guarantee that would not break it up.
Look at the tax advantages too. I liked the part about the company eating lunch together every Friday and then leaving at 2 P.M.
Best decision I ever made was working 4 10 hour days. Especially on a day like today where it is 80 degrees and not a cloud in the sky. We are taking off for Opening Day too.
You and I both know that work never stops 24/7. You can't shut your brain off. If I have to write a very technical submittal, I have found out that I do my best writing between 11 PM and 2 AM when everything is quiet.