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Thread: B&A Precision

  1. #5641
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    Quote Originally Posted by wheelieking71 View Post
    I get why people think it is important to "diversify". But, meh, I would rather specialize.
    My angle is, I break the good/fast/cheap triangle in the milled aluminum widget production world.
    I go just far enough at each tip of the triangle. No more, no less. And provide all three.

    So I personally don't want to diversify my work. Customers is another story! I definitely need to diversify there!
    My idea of "diversify" is solely in sources of income, which is what really matters if you lose one or two of them. I used to make only one very specialized product line but my biggest customer was only 10%, with most under 3%.

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  3. #5642
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    Quote Originally Posted by Ox View Post
    Dare I ask how high limit?

    Personally - I am fine with having any of my debt backed up, but it does feel nice when you can say for sure that "That is mine", and that it's not tied to something else somewhere...



    -------------------

    Think Snow Eh!
    Ox
    Precisely why I told him to keep everything separate, on its own note. And why I am so furious at them for doing exactly what I told them not to do!

    The BFH is almost paid off. (US Bank) I was gonna throw the chunk at it to get it over with and end that payment.
    Not now! Every extra penny I can muster, now goes to the other joint. I need them out of my life pronto.

  4. #5643
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    Quote Originally Posted by standardparts View Post
    Used to be $100K max with no nasty credit history. The interest rate might not be for the feint of heart.

    Basically credit cards are unsecured credit so if opportunity presents itself the reality is most people in business have a good size line if credit. Again not much room for error if the cash flow/profit gets ate up by interest.

    Gets real sketchy when you max the plastic AND the credit line. Been the ruin if many a good man.
    Just looked on the US Bank site...shows $100K unsecured.
    I wonder what the interest is @ about $80K? That would end my moral furiosity.

  5. #5644
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    Quote Originally Posted by wheelieking71 View Post
    I wonder what the interest is @ about $80K? That would end my moral furiosity.
    This thread has over 940,000 views. Too bad you can't monetize it.
    Ten Cents per view and you would be home free.

  6. #5645
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    When you talk about selling the robot, did you sell the S300 as well or just the robot with the conveyors?

    Are the pallet Brothers staying? Seems like they could annihilate a variety of parts that might walk in the door.

    And now that the project is over can you show the parts? It's like Wilson's face in Home Improvement...

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  8. #5646
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    Uh Wheelie - I seem to recall that there are at least some states where a contract is not enforceable unless everybody got a signed copy. I am not a lawyer. But you might to call one....

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    Quote Originally Posted by bryan_machine View Post
    Uh Wheelie - I seem to recall that there are at least some states where a contract is not enforceable unless everybody got a signed copy. I am not a lawyer. But you might to call one....
    In my current situation it is more an issue of principal and integrity, than reality.
    Yea, my situation could have gotten REAL ugly. And, they legally could have stepped in and cleaned me out.
    But, lucky for me! my situation isn't there yet. This is a matter of principal. He asked me how I wanted to handle these "loans". I told him.
    As far as I am concerned, that was the end of the story. The fact that they did what they did seals the deal!
    If my situation got real grim? I would look in to the legalities like you suggest. But I'mma try my best not to have to go there!

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  11. #5648
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    A shop owner friend of mine, who is long deceased, told me that "Friendly bankers - aren't all that friendly!"

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  13. #5649
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    This stuff is why I am so glad my wife went to law school, real nice having in house counsel

  14. #5650
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    Quote Originally Posted by wheelieking71 View Post
    In my current situation it is more an issue of principal and integrity, than reality.
    Yea, my situation could have gotten REAL ugly. And, they legally could have stepped in and cleaned me out.
    But, lucky for me! my situation isn't there yet. This is a matter of principal. He asked me how I wanted to handle these "loans". I told him.
    As far as I am concerned, that was the end of the story. The fact that they did what they did seals the deal!
    If my situation got real grim? I would look in to the legalities like you suggest. But I'mma try my best not to have to go there!
    If it were me I'd look into the legalities now not later. So either your prepared then, or become prepared now if it seems like it could get a whole lot worse and get away from you in a hurry.

    A visit with an attorney should be free for an initial consultation.


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