# When your Company Files Bankruptcy



## PlumberDave (Jan 4, 2009)

What do you do?
Beacon Plumbing filed Chapter 11 today. It will take a bit for proceedings in the court system but my tools are on the truck. the owner will not shut the doors and I hope my gut feeling is good to trust the Man that has been too good to me for 6 years. But the court system scares me to death they can confinscate the whole lot. When do you pull your tools?


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## uaplumber (Jun 16, 2008)

How much do you need your pay check?
If you live week to week, run now.
If you can absorb a bounced check stay and pray.


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## M5Plumb (Oct 2, 2008)

I remember my younger days of training in the Navy...I was part of the scuttling crew. That meant I was going down with the ship when she sank. I soon found my self in a job that I was doing more of the directing and made the call to either get in and save it or pull the cork and run like hell. 
For you, I think this might be the time to pull that cork.


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## Phat Cat (Apr 1, 2009)

If he's treated you good for 6 years, don't you feel some responsibility to stay and try and help the guy?

Even in bankruptcy, your tools are yours. The court can only confiscate business assets and possibly the owner's assets.


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## ILPlumber (Jun 17, 2008)

PlumbCrazy said:


> If he's treated you good for 6 years, don't you feel some responsibility to stay and try and help the guy?
> 
> Even in bankruptcy, your tools are yours. The court can only confiscate business assets and possibly the owner's assets.


While I do agree with you. I believe the court will take it all and sort out what belongs to whom later. 

It will takes weeks if not months to recover your tools after they are "frozen". 

The repo man is not gonna stand there and wait with the truck on the hook so you can get your stuff out.


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## Plumber (Jan 18, 2009)

PlumberDave said:


> What do you do?
> Beacon Plumbing filed Chapter 11 today. It will take a bit for proceedings in the court system but my tools are on the truck. the owner will not shut the doors and I hope my gut feeling is good to trust the Man that has been too good to me for 6 years. But the court system scares me to death they can confinscate the whole lot. When do you pull your tools?


That's a shocker. Do not worry about it, though. He's as aggressive as an owner as there ever was. Hang with him. And your tools are safe because Chapter 11 is a "reorganization of finances".

What you forgot to tell everyone is that he was busted for using unlicensed plumbers. I mentioned that in a post recently...$20,000.00 in fines in 2008. That scandal was on the local new stations for weeks.

You have to play by the rules all the time. I'm going to tattoo that on my forehead.


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## Phat Cat (Apr 1, 2009)

I thought you would be able to move your tools before the actual hearing date. Is this not the case?

Now that the whole truth has come out - are you comfortable with a company that knowingly stiffed YP cos.?


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## PlumberDave (Jan 4, 2009)

PlumbCrazy said:


> I thought you would be able to move your tools before the actual hearing date. Is this not the case?
> 
> Now that the whole truth has come out - are you comfortable with a company that knowingly stiffed YP cos.?


I do believe from what I have read overnite They won't take any action until the first plan hearing if anything. Problem is I found out from the paper not the boss I do not want to find out from the paper they confinscated the lot before I can get my stuff out. I can see a month of hassle to get my stuff. 

Am I comfortable, have you done biz with Dex? Dex is getting what they reap for now. the rest of it, No I am not. The economy took a turn the plan didn't take into account in the smallest of ways and that is bad planing. Bill the owner makes some real whacky moves day to day, But dam this Co went from 6 plumbers 5-6 years ago to 80 employees in the field in 2008 so I do not get to see alot. What I do know Bill will stand with and for all of his guys. By filling Bankrupcy it might not be in his hands for much longer and that makes me uncomfortable.


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## PlumberDave (Jan 4, 2009)

Plumber said:


> That's a shocker. Do not worry about it, though. He's as aggressive as an owner as there ever was. Hang with him. And your tools are safe because Chapter 11 is a "reorganization of finances".
> 
> What you forgot to tell everyone is that he was busted for using unlicensed plumbers. I mentioned that in a post recently...$20,000.00 in fines in 2008. That scandal was on the local new stations for weeks.
> 
> You have to play by the rules all the time. I'm going to tattoo that on my forehead.


I could go into why we got singled out in this market but we were in the wrong. 

Yea we got nailed for reason. I do Not in anyway agree with the actions the company took at that time. there are reasons we did what we did but they were illegal and we all continue to pay for it.

I may be wrong but I'd bet we all had a bit of supervision not 75%. I rode with a Licensed plumber for a year and that was it, on my own since.


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## DUNBAR PLUMBING (Sep 11, 2008)

If the IRS gets involved, you have no choices, no way to get anything.


I was dealing with a sports shop that I would deliver my t-shirts to get printed, then they'd do the work and I'd pick them up.


Guy called me up and as a nice gesture, told me to get my stuff because once they seize everything, you'll never get it back. 


Don't think for a minute that the IRS isn't aware when a business files bankruptcy. They are the first ones to lock up bank accounts, seize property because they want to make sure the liquidation goes in favor to them first...and just because someone is pointing fingers and saying hey that's mine, it doesn't pan out that way. You find out when the dust settles, and even then, you might as well cut your losses.


I'd bail, get your stuff and tell him you see him on the dark side. :laughing:


And here's the bad thing folks,


Anytime a business goes under...there's going to be a plumbing supply house usually taking it on the chin in upaid materials. So when the price of that material goes up.....that's a partial reason for it.


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## DUNBAR PLUMBING (Sep 11, 2008)

I should mention the above only applies to companies that are heavily behind on taxes.


If you're current, they are not even a concern.


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## para1 (Jun 17, 2008)

When is the auction? I want to put in a bid on that speed boat.:jester:


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## Plumber (Jan 18, 2009)

PlumberDave said:


> I could go into why we got singled out in this market but we were in the wrong.
> 
> Yea we got nailed for reason. I do Not in anyway agree with the actions the company took at that time. there are reasons we did what we did but they were illegal and we all continue to pay for it.
> 
> I may be wrong but I'd bet we all had a bit of supervision not 75%. I rode with a Licensed plumber for a year and that was it, on my own since.


Are your hours booked and everything licensed? This is the reason that shop should be union. The union keeps everything focused and you'd be surprised at the "suggestions" the other union members have when things get weird.

The company's not dead and it would be a good time for the senior employees to step up big time. There aren't jobs out there that pays like he does, kid. Help him through this.


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## Jason Bennett (Dec 30, 2008)

What I would do,ask what plan they have.is plumbing the only service they do?More service more work.you could take your tools at the end of each day.about staying with him,I would have a back-up job to go to.just be honest with him about your feeling and he should be honest with you,good luck


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## Plumber Jim (Jun 19, 2008)

Well, the first thing that has to happen is the owner will go to court and face his creditors. He has to have a plan and the creditors have to agree to allow him to continue his business under the new plan. If he makes his payments to the court as planned then he can keep his doors open. Is the truck you drive paid for free and clear? Do you take the truck home? If so you will be able to get your stuff out. just keep your tools neat and easy to remove if the time comes.


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## grandpa (Jul 13, 2008)

PlumbCrazy said:


> Even in bankruptcy, your tools are yours. The court can only confiscate business assets and possibly the owner's assets.


Yes, but a receiver will automatically grab everything, and it will be up to you to make a claim and PROVE what is yours. It will not be pleasant.

I don't know anything about this Beacon situation. If they are planning a reorganization, then obviously some arrangements will have to be made to allow people to keep operating the trucks and not feel their personal tools are at risk. If the company doors are not closed yet , you need to have this discussion right away. 

Some years ago, I had ordered a part for my truck...I think it was a headlight switch or something, under $100. Between the time I ordered and paid for that, and went in to pick it up ( this was only a matter of a week or so), the dealership went under...doors sealed. There was a phone number for the lawyer, I called and said I want my switch...they said get in line. I am still in line ( since 1999!)....


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## Plumber (Jan 18, 2009)

The Comment Section over at the Times heated up. In one post the Beacon owner (allegedly) said that he did 20,667 jobs a year, averaged over that last 3 years. http://community.seattletimes.nwsou...ay.php?source_name=mbase&source_id=2008982455

Even if he's lying by half, that's alot of work. $124,000.00 in service charges alone.


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## PlumberDave (Jan 4, 2009)

Plumber said:


> The Comment Section over at the Times heated up. In one post the Beacon owner (allegedly) said that he did 20,667 jobs a year, averaged over that last 3 years. http://community.seattletimes.nwsou...ay.php?source_name=mbase&source_id=2008982455
> 
> Even if he's lying by half, that's alot of work. $124,000.00 in service charges alone.


not a lie at all. 15-17mil 2007 12mil in 2008. 40 trucks 8am to 11pm average hours. We work hard and got paid good.


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## Plumber (Jan 18, 2009)

PlumberDave said:


> not a lie at all. 15-17mil 2007 12mil in 2008. 40 trucks 8am to 11pm average hours. We work hard and got paid good.


Soooo sweet. I wonder if he needs a GM? Is his ego small enough to accommodate mine? :laughing: 

Seriously.

You stay in touch about this b.k. It affects the whole region.


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## ToUtahNow (Jul 19, 2008)

It seems like the only fair thing to do is to have Obama bail the Plumbing Company out. This way the phone book can continue to make ridiculous profits, the owner can continue to make reckless decisions and we can all back his mistakes.

I am starting to better understand the new meaning of the word "free" in the "Land of the free" and it has little to do with Freedom.

Mark


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## Plumber (Jan 18, 2009)

para1 said:


> When is the auction? I want to put in a bid on that speed boat.:jester:


I just saw that the boat wasn't his at all. He briefly sponsored it, but kept the image up. Boy-oh-boy, what a con artist. I wonder if he'll survive this.



> ...you'll still see prominent images of Billy and Jane Schumacher's U-37 unlimited hydroplane. Not only did Beacon stop sponsoring the boat last October, but now the company is heading towards bankruptcy. http://www.kndo.com/Global/story.asp?S=10155163&nav=menu484_4_1


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## beaconplumbing (Jun 20, 2010)

Hi all,

The bankruptcy has been resolved. If you have any questions feel free to contact us through our website at http://www.beaconplumbing.net

Thank you.


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## Redwood (Sep 8, 2008)

beaconplumbing said:


> Hi all,
> 
> The bankruptcy has been resolved. If you have any questions feel free to contact us through our website at http://www.beaconplumbing.net
> 
> Thank you.


Yea Sure...

How many cents on the dollar did you end up paying out?
:whistling2:

Wanna sponsor a hydroplane? :laughing:

Are your Creditors Still Freakin?


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## Master Mark (Aug 14, 2009)

*the screwing continues*



Redwood said:


> Yea Sure...
> 
> How many cents on the dollar did you end up paying out?
> :whistling2:
> ...


 
the sad thing is, even after takeing a terrible beating
usually a few hundred grands worth, 
the same supply houses will go ahead and give them credit all over again..:blink: 

usually they start over under a new name.

I dont understand it...

its going on here too, but their is one supply house in our town that wont let one crook in their doors anymore....:thumbup:


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## BROOKLYN\PLUMB (May 21, 2010)

stop freakin' calln' BEACON 1800-FREAKIN sounds like a sex hot line to me is that how you got so many calls actually not a bad idea how about 1800-NIPPLES or 1800-RODDING


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## ILPlumber (Jun 17, 2008)

I find this hilarious. That is all.......


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## Titan Plumbing (Oct 8, 2009)

beaconplumbing said:


> Hi all,
> 
> The bankruptcy has been resolved. If you have any questions feel free to contact us through our website at http://www.beaconplumbing.net
> 
> Thank you.


Hi all,

We've just screwed many people out of money, but all is fine (for me). Feel free to contact us. (yeah right)

Thank you.


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## beaconplumbing (Jun 20, 2010)

I am not here to stir up trouble. If you don't feel the need to actually contact Beacon Plumbing there is no need to fill this thread with so much disdain. 

I work for Beacon and am doing my job by updating this thread with relevant information.

http://www.plumbingzone.com/f2/keeping-things-positive-8498/


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## RealLivePlumber (Jun 22, 2008)

Relavant to who?


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## Master Mark (Aug 14, 2009)

*call around and tell everyone*

Happy days....keeping things positive....great idea:laughing::laughing:

I wonder how much $$$ they owed to all their suppliers
when they went under??? 

How many jobs were left half completed...

we got a builder in town here that went under leaving
people with half built homes and liens all over the place....


When Beacon goes back to them to open a new account you 
should thell those suppliers you screwed to think and
 "stay positive" ....maybe give them a ride on that boat.....

or ....take vaseline with you:thumbup:

I know you will still get credit......again.....


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## Redwood (Sep 8, 2008)

It's funny how your erased debt gets converted to overhead and is paid by everyone else...:whistling2:

Now in your market areas you have competitors that you buried with your massive "free" advertising campaigns...

I say free because you never paid for them...

Now your competition is indirectly paying for those ad campaigns in the form of increased rates to make up for your financial irresponsibility...

Kinda stinks doesn't it?:whistling2::yes:


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## PlumberDave (Jan 4, 2009)

Hey folks, 
We did just recently come out of bankruptcy. As far as suppliers and customers go we didn't screw any one of them we have been a cash account at the suppliers for as long as I have been here 6 years.(a real pain to get parts but that is how we do it.) Customers have been taken care of. Now Advertisers they got the short end. Phone book execs lost the bonuses and trips to wherever. But coming out of 11 doesn't mean it's all peachy, economy is still down we still owe some big debt but it will turn around and hopefully we won't hire hacks when it does. Boss is now watching the board so later.


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## Redwood (Sep 8, 2008)

PlumberDave said:


> Hey folks,
> We did just recently come out of bankruptcy. Now Advertisers they got the short end. Phone book execs lost the bonuses and trips to wherever.


I'd say your competitors got the short end of the stick as well...:whistling2:

A few of them could probably have used a 2 - 3 million dollar advertising campaign too....:yes:

Especially if it didn't cost them a dime...:furious::furious:


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## Titan Plumbing (Oct 8, 2009)

PlumberDave said:


> Hey folks,
> We did just recently come out of bankruptcy. As far as suppliers and customers go we didn't screw any one of them we have been a cash account at the suppliers for as long as I have been here 6 years.(a real pain to get parts but that is how we do it.) Customers have been taken care of. Now Advertisers they got the short end. Phone book execs lost the bonuses and trips to wherever. But coming out of 11 doesn't mean it's all peachy, economy is still down we still owe some big debt but it will turn around and hopefully we won't hire hacks when it does. *Boss is now watching the board so later*.


And this means what???????????????


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## UnclogNH (Mar 28, 2009)

The term "file for bankruptcy" No longer applies As of June 21st 2010 at 7:18 pm eastern standard time
It's now called go to court and file for a "Freakin Beacon!


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## Phat Cat (Apr 1, 2009)

The whole deal reminds me of Wall Street. Those who were making the most were taking the biggest risks . . . However, the risk is small when you are allowed to walk away from some of the liabilities.

What about all the smaller companies that played it safe and paid for all of their advertising in YP? They took little risk and made little gains.

I have no problem with the big guys taking big risks and raking it in. But when it hits the fan, man up!


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## Redwood (Sep 8, 2008)

PlumbCrazy said:


> The whole deal reminds me of Wall Street. Those who were making the most were taking the biggest risks . . . However, the risk is small when you are allowed to walk away from some of the liabilities.
> 
> What about all the smaller companies that played it safe and paid for all of their advertising in YP? They took little risk and made little gains.
> 
> *I have no problem with the big guys taking big risks and raking it in. But when it hits the fan, man up!*


Yep....

To do what you did isn't right....

It just takes a pair of...


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## Don The Plumber (Feb 14, 2010)

I'll bet the big beacons took big paychecks all the while this was going on. Even after they knew they could never pay their creditors.
Thats the new corporate screw. Buy, buy, buy, your way into debt, cry, cry, cry, your way out of debt.


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## Redwood (Sep 8, 2008)

Don The Plumber said:


> I'll bet the big beacons took big paychecks all the while this was going on. Even after they knew they could never pay their creditors.
> Thats the new corporate screw. Buy, buy, buy, your way into debt, cry, cry, cry, your way out of debt.


Oh Yea!

It was Champaign and Caviar with Miss Beacon at the races....

Skyboxes watching the Seahawks with more Champaign and Caviar....

Till the day they filed....:whistling2:


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## Master Mark (Aug 14, 2009)

*Had that happen here*



Don The Plumber said:


> I'll bet the big beacons took big paychecks all the while this was going on. Even after they knew they could never pay their creditors.
> Thats the new corporate screw. Buy, buy, buy, your way into debt, cry, cry, cry, your way out of debt.


we had a huge company in town do a nasty deed when they knew they were gonna close the doors....

they had great credit with all the supply houses , so they decided to buy everything that they could get their slimey hands on till they maxed out the creditlines with everybody....

then they moved all this merchandise off their companies property and put it all in a near by pole barn....
*and then they filed for bankruptsy.....*

our law states that if the un-paid for merchandise is not on the plumbers property , it cant be seized......

so then this skumbag has an auction and sells off everything that he stole from the supply houses,,,,, 

some of the supply house owners came out to the acution to look the s.o.b in the eye as he was selling off their stuff.....


no one will do business with that a-hole ever agian here

Redwood....

big balls, but no morals... .


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## OldSchool (Jan 30, 2010)

*The whole things smells :furious:*

*If Beacon is on the verge of Bankruptcy now it is enviable that they will be there eventually.*

*If they can not pay there debt now....they will never be able to do it in the future.*

*All I got to say is the overall actions of Beacon is bad for the plumbing industry in general.*

*It means tighter financing for plumbing companies overall.*

*Furthermore customer trust in down payments toward job will suffer.*

*If you are going to go big, manager yourself accordingly or find some other trade to tarnish *


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## Redwood (Sep 8, 2008)

OldSchool said:


> *The whole things smells :furious:*
> 
> *If Beacon is on the verge of Bankruptcy now it is enviable that they will be there eventually.*
> 
> ...


Uuuummm Old School....

Beacon Plumbing Filed for Bankruptcy 4/3/2009....
This was just in response to Beacon Stopping by and posting how they are all better now and they are out of bankruptcy...

http://seattletimes.nwsource.com/html/businesstechnology/2008982455_webbeacon03.html


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## OldSchool (Jan 30, 2010)

Redwood said:


> Uuuummm Old School....
> 
> Beacon Plumbing Filed for Bankruptcy 4/3/2009....
> This was just in response to Beacon Stopping by and posting how they are all better now and they are out of bankruptcy...
> ...


:laughing: my bad

what is it over or just the beginning


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## rocksteady (Oct 8, 2008)

OldSchool said:


> :laughing: my bad
> 
> what is it over or just the beginning


The funny (sad?) thing is you were right. This *isn't* the end of this story.









Paul


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## Redwood (Sep 8, 2008)

I guess it's all over...

And they have to stay off the Champaign and Caviar until next time they do it...


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## OldSchool (Jan 30, 2010)

There should be no next time ..... or maybe we should all do it at once on the same day at the same time to the same people


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## mickeyz (Aug 18, 2010)

PlumberDave said:


> What do you do?
> Beacon Plumbing filed Chapter 11 today. It will take a bit for proceedings in the court system but my tools are on the truck. the owner will not shut the doors and I hope my gut feeling is good to trust the Man that has been too good to me for 6 years. But the court system scares me to death they can confinscate the whole lot. When do you pull your tools?


Bill Cahill is a douche. He left a lot of guys high and dry with medical bills. He also is a megalomaniac who has a god complex. He enslaves guys with their big fat commissions. He sends hacks out to "plumb" while charging massive amounts of money while these hacks experiment on peoples homes. What does that say about him? God help him!


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## Master Mark (Aug 14, 2009)

*now tell me what you really think*



mickeyz said:


> Bill Cahill is a douche. He left a lot of guys high and dry with medical bills. He also is a megalomaniac who has a god complex. He enslaves guys with their big fat commissions. He sends hacks out to "plumb" while charging massive amounts of money while these hacks experiment on peoples homes. What does that say about him? God help him!


 I guess you have been burned by him....


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## PlumberDave (Jan 4, 2009)

We cut all the "hacks" are you still here?


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## pdxplumber (Nov 21, 2009)

What the hell is going on up in Seattle? I thought my old boss was the only megalomaniac that ran up crazy debts with the yellow pages. 
My question is, why do these people get involved in plumbing companies?
They don't have any interest in the trade, the work, the technologies. Why not just sell used cars or dietary supplements?





|


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## Plumber (Jan 18, 2009)

PlumberDave said:


> We cut all the "hacks" are you still here?


A year later, are you still there, Dave? Is it busy?


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## Widdershins (Feb 5, 2011)

Plumber said:


> A year later, are you still there, Dave? Is it busy?


 Beacon is doing fine -- They've slimmed down a bit out of necessity, but they're doing fine. And by fine, I mean they aren't doing any better or worse than the rest of us.

Bill has never been one of my favorites, not even a little bit, but he's a pretty damned shrewd businessman.


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## Plumber (Jan 18, 2009)

Widdershins said:


> Beacon is doing fine -- They've slimmed down a bit out of necessity, but they're doing fine. And by fine, I mean they aren't doing any better or worse than the rest of us.
> 
> Bill has never been one of my favorites, not even a little bit, but he's a pretty damned shrewd businessman.


wtf do dat mean? lol........

His phone bill is more than most companies' gross and it is amazing to me that he's not homeless with his nut.

Figure he grosses 100k a month with a nut of 200k. How in the world does he do it?


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## Widdershins (Feb 5, 2011)

Plumber said:


> wtf do dat mean? lol........
> 
> His phone bill is more than most companies' gross and it is amazing to me that he's not homeless with his nut.
> 
> Figure he grosses 100k a month with a nut of 200k. How in the world does he do it?


 You really don't have a clue, Plumber.


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## U666A (Dec 11, 2010)

Widdershins said:


> You really don't have a clue, Plumber.


The "comment on the person above" thread is that way dude...

<<<

:laughing:


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## Plumber (Jan 18, 2009)

Widdershins said:


> You really don't have a clue, Plumber.


But I asked Dave how it was going?

edit: ooohhhh you got 11 posts a day. Never mind....

The reason I have so many posts was during that bad winter in 09. Otherwise, I would be outside doing something...


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## abudgetplumb (Aug 22, 2011)

I buy the best tools i can afford so i'd go get them. will they still be in business? just curious, i have a friend that works there


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## Widdershins (Feb 5, 2011)

abudgetplumb said:


> I buy the best tools i can afford so i'd go get them. will they still be in business? just curious, i have a friend that works there


 This thread was started in 2009.


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