The Veritable Quandary to Close - say it ain't so?!?!?!

You called me clueless. LOL.

His mortgage could be one year old. It would be silly to leave a lot of equity tied up in the property. He might have more than one mortgage, too.

The place could be worth $100M. If he owes $80M and the government offered $70M, he has to come up with the difference. The price then/now is irrelevant.

Did you hear the one about the company that sold widgets for $2 that cost them $3 to make. Sales were huge, because those are a good deal. "They must be profitable," says barfo.

Look, the owner didn't say he's moving to another location. He's still going to have loyal patrons, witness those who say they like ke the food and will miss the place. He didn't stay open because this $250M monstrosity is going to dwarf the place and ruin the ambiance, wreck traffic patterns and parking, etc. If the profits were so good, he'd stay or move the business. Or sell it to someone because the name, recipes, goodwill, processes, etc., mean profit.

 

Yes. And you are indeed clueless, and you keep proving it.

Sure.

Sure.

Sure, if you imagine he just bought the place. Too bad for your theory, he didn't.

Apparently you don't know much about the restaurant business. A steamed widget with widget sauce and a side of baby widgets does not cost $3 to make, nor does it sell for $2.

He's also been running the place for 45 years. That probably makes him at least as old as you and I. Seems just possible that he's ready to retire.

Like there is any parking to wreck.

Yeah, he probably lost money for 45 years as the restaurant just got more and more popular. Seems plausible in DennyWorld.

barfo

 

So you got fucked by the gubment and didn't do anything about it.

You sure you ain't a democrat?

 

barfo,

I didn't say he didn't make money. Strawman after strawman and you aren't even arguing against those very well.

A conservative guess on my part would be that the restaurant is generating $400K in free cash before paying the owner.

That still doesn't mean he has no debt or the business has none. Hell, if his suppliers give him net 30 or even net 90, he owes them a decent amount.

The guy isn't so old that he tried to keep the business open but the government killed it.

 

Inconvenienced by the government. I expect no less.

Nobody else took pictures or made a stink. They've seen it all along.